Commitment to Make RC Loans Clause Samples
Commitment to Make RC Loans. (a) Subject to and upon the terms and conditions set forth in this Agreement, the RC Lenders shall make advances to the Borrower until the Maturity Date in an aggregate principal amount outstanding at any one time not to exceed $25,000,000 (as the same may be reduced or increased pursuant to the terms of this Agreement, the “Commitment”); provided, however, that (a) the aggregate amount of the Commitment available for borrowing at any time shall not exceed the Available Commitment at such time; and (b) the amount and percentage of the Commitment and the Available Commitment which each RC Lender is obligated to lend shall not exceed at any time the amount or percentage set forth on Schedule 1.1 hereto (as supplemented and amended by giving effect to the assignments contemplated in this Agreement). The Commitment of any RC Lender is sometimes referred to herein as such Lender’s Commitment. Within the limits set forth above, the Borrower may borrow under this
Section 2.1 repay or prepay such advances, and reborrow under this Section 2.
1. The amounts loaned to the Borrower pursuant to the revolving credit facility described in this Section 2.1 are referred to as the “RC Loans.”
(b) Except as set forth below in this paragraph (b), all RC Loans shall be advanced in U.S. Dollars. By written request which request shall be delivered to the Agent at least three Business Days prior to the date of any advance, the Borrower may request that any RC Loan be made in Euros, British Pounds Sterling, Japanese Yen or such other freely convertible foreign currency as the Borrower may request and subject to availability of each of the Lenders and so long as such Loan in such currency would not result in additional unreimbursed Liabilities of any such Lender or be contrary to Law applicable to any such Lender, the applicable RC Loan shall be made in the requested currency. Any RC Loan so made in a currency other than U.S. dollars (a “Foreign Currency Loan”) shall be repaid in the currency in which the Loan was made; interest payments thereon shall be made in the currency in which the Loan was made. The amount of any Foreign Currency Loan shall at all times be deemed to equal the U.S. Dollar equivalent thereof determined using the Spot Exchange Rate.
Commitment to Make RC Loans. Subject to and upon the terms and conditions set forth in this Agreement, the RC Lenders shall make advances to the Borrower until the RC Maturity Date in an aggregate principal amount outstanding at any one time not to exceed the lesser of the following: (a) $3,500,000.00 (as the same may be reduced by any mandatory or voluntary reductions pursuant to the terms of this Agreement, the "RC COMMITMENT"); or (b) the amount of the Borrowing Base; provided, however, that no advance shall be made in excess of the amount of the Available Commitment, and provided, further, however that the percentage and aggregate amount of all RC Loans which each RC Lender is obligated to lend shall not exceed at any time the percentage or amount of the RC Commitment set forth opposite the name of such RC Lender on Schedule 1.1 hereto (as supplemented and amended by giving effect to the assignments contemplated in this Agreement). The portion of the RC Commitment attributable to each RC Lender is sometimes referred to herein as such Lender's RC Commitment. Within the limits set forth above, the Borrower may borrow under this Section 1.1, repay or prepay such advances, and reborrow under this Section 1.
1. The amounts loaned to the Borrower pursuant to the reducing revolving credit facility described in this Section 1.1 are referred to as the "RC LOANS".
Commitment to Make RC Loans. Subject to, and upon the terms and conditions set forth in this Agreement, the RC Lenders shall make advances to the Borrower until the RC Maturity Date in an aggregate principal amount outstanding at any one time not to exceed Three Hundred Million Dollars ($300,000,000) (as the same may be increased or reduced pursuant to the terms of this Agreement, the “RC Commitment”); provided, however, that (a) the aggregate amount of the RC Commitment available for borrowing at any time shall not exceed the Available RC Commitment at such time; and (b) the amount and percentage of the RC Commitment and the Available RC Commitment which each RC Lender is obligated to lend shall not exceed at any time the amount or percentage set forth on Schedule 2.1.1 for such RC Lender (as supplemented and amended by giving effect to the assignments contemplated by this Agreement and any other adjustments contemplated by this Agreement). The RC Commitment of any RC Lender is sometimes referred to herein as such RC Lender’s RC Commitment. Within the limits set forth above, the Borrower may borrow under this Section 2.1, repay or prepay such advances, and reborrow under this Section 2.1. The amounts loaned to the Borrower pursuant to the revolving credit facility described in this Section 2.1 are referred to as the “RC Loans.”