Commitments and Loans Sample Clauses
The 'Commitments and Loans' clause defines the obligations of lenders to provide funds and the borrower's right to draw on those funds under a loan agreement. It typically outlines the maximum amount available, the conditions under which loans can be requested, and the process for disbursing funds. This clause ensures both parties understand the scope and mechanics of the lending arrangement, thereby providing clarity and predictability regarding the availability and use of loan proceeds.
Commitments and Loans. Prior to the Restatement Effective Date, certain term loans were previously made to the Borrowers and certain revolving loans were previously made to the Borrowers as “Dollar Tranche Revolving Loans” and “Multicurrency Tranche Revolving Loans” under the Existing Credit Agreement which remain outstanding as of the Restatement Effective Date (such outstanding loans being hereinafter referred to as the “Existing Loans”). Subject to the terms and conditions set forth in this Agreement, the parties hereto agree that on the Restatement Effective Date the Existing Loans shall be re-evidenced as Initial Term Loans and Revolving Loans that are “Dollar Tranche Revolving Loans” and “Multicurrency Tranche Revolving Loans”, as the case may be, under this Agreement and the terms of the Existing Loans shall be restated in their entirety and shall be evidenced by this Agreement. Subject to the terms and conditions set forth herein, (a) each Dollar Tranche Lender (severally and not jointly) agrees to make Dollar Tranche Revolving Loans to the Borrowers in Dollars from time to time during the Availability Period in an aggregate principal amount that will not result in (i) such Lender’s Dollar Tranche Revolving Credit Exposure exceeding such Lender’s Dollar Tranche Commitment or (ii) the sum of the total Dollar Tranche Revolving Credit Exposures exceeding the aggregate Dollar Tranche Commitments, (b) each Multicurrency Tranche Lender (severally and not jointly) agrees to make Multicurrency Tranche Revolving Loans to the Borrowers in Agreed Currencies from time to time during the Availability Period in an aggregate principal amount that will not result in (i) subject to Sections 2.04 and 2.11(b), the Dollar Amount of such Lender’s Multicurrency Tranche Revolving Credit Exposure exceeding such Lender’s Multicurrency Tranche Commitment, (ii) subject to Sections 2.04 and 2.11(b), the sum of the Dollar Amount of the total Multicurrency Tranche Revolving Credit Exposures exceeding the aggregate Multicurrency Tranche Commitments or (iii) subject to Sections 2.04 and 2.11(b), the sum of the Dollar Amount of the total Multicurrency Tranche Revolving Credit Exposures, in each case denominated in Mexican Pesos, exceeding $500,000,000 and (c) each Additional Term Lender with an Additional Term Loan Commitment (severally and not jointly) agrees to make an Additional Term Loan to the Company in Dollars and to LKQ Netherlands in euro, in each case, on the Restatement Effective Date in an a...
Commitments and Loans. (a) Subject to and upon the terms and conditions herein set forth, each Initial Lender severally (and not jointly) agrees on the Closing Date to make a loan or loans denominated in Dollars (each an “Initial Loan”) to the Borrower in an amount equal to such Initial Lender’s Initial Commitment, which Initial Loans may, at the option of the Borrower, be incurred and maintained as, and/or converted into, ABR Loans or Eurodollar Loans in accordance with the provisions hereof; provided that all Initial Loans made by each of the Initial Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Initial Loans of the same Type. Amounts paid or prepaid in respect of Initial Loans may not be reborrowed.
(b) Each Lender may at its option make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that (A) any exercise of such option shall not affect (1) the obligation of the Borrower to repay such Loan or (2) the obligations, duties and rights of such Lender hereunder and (B) in exercising such option and without limiting the rights of the Borrower under Section 2.10 and 5.4 in respect of any increased costs to it, such Lender shall use its reasonable efforts to minimize any increased costs to the Borrower resulting therefrom (which obligation of the Lender shall not require it to take, or refrain from taking, actions that it determines would result in increased costs for which it will not be compensated hereunder or that it determines would be otherwise disadvantageous to it).
Commitments and Loans. 19 2.1 LOANS.........................................................19 2.2
Commitments and Loans. On and subject to the terms and conditions of this Agreement, each of the Lenders, severally and for itself alone, agrees to make and/or participate in Credit Extensions to the Borrowers as follows:
Commitments and Loans. 21 2.1 Loans........................................................................................21 2.2
Commitments and Loans. 28 SECTION 2.02. Loans........................................................................ 29 SECTION 2.03.
Commitments and Loans. On the Effective Date, each Lender made a loan in dollars to the Borrower in a principal amount not exceeding such Lender’s Commitment (the “Original Loans”). Notwithstanding anything to the contrary contained herein (and without affecting any other provision hereof), the funded portion of each Original Loan made on the Effective Date (i.e., the amount advanced in cash to the Borrower on the Effective Date) was equal to 96.0% of the principal amount of such Loan (it being agreed that the Borrower shall be obligated to repay 100.0% of the principal amount of each such Loan as provided hereunder). On the Crack Spread Hedge Unwind Date, 100% of the then outstanding principal balance of the Original Loans will be deemed to be divided, without further action by any Lender or the Borrower, into two separate tranches as follows, in each case on a pro rata basis according to the outstanding principal amount of the Original Loans owed to each of the Lenders: (i) an aggregate
Commitments and Loans. 16 2.1 Loans........................................................... 16 2.2 Terminations or Reductions of Loan Commitments.................. 16 2.3 Fees............................................................ 17 2.4
Commitments and Loans. (a) On the terms and subject to the conditions set forth in this Agreement, each of the Lenders severally agrees, from time to time on any Business Day occurring on or after Closing Date but prior to the Commitment Termination Date, to make loans (relative to each Lender, its “Loans”) to the Borrowers in an aggregate amount equal to such Lender’s Pro Rata Share of the aggregate amount of the Loans requested by the Borrowers to be made on such Business Day. The Lenders shall distribute the proceeds of such Loan to the Borrowers no later than 11:00 a.m. (New York City time) on the related Funding Date in accordance with Section 2.03.
(b) On the terms and subject to the conditions hereof, the Borrowers may from time to time borrow, prepay and reborrow Loans. No Lender shall be required to make any Loan if, after giving effect thereto, (i) the Outstanding Aggregate Loan Amount would exceed the Available Amount or (ii) such Lender’s Outstanding Lender Loan Amount would exceed such Lender’s Pro Rata Share of the Available Amount.
Commitments and Loans. (a) Subject to the terms and conditions and relying on the representations and warranties of the Borrowers set forth herein, (i) each Tranche G Lender agrees, severally and not jointly, to make a Tranche G Loan in U.S. Dollars to Stone on the Closing Date in a principal amount not to exceed its Tranche G Commitment, and (ii) each Tranche H Lender agrees, severally and not jointly, to make a Tranche H Loan in U.S. Dollars to Canco on the Closing Date in a principal amount not to exceed its Tranche H Commitment. Amounts paid or repaid in respect of Term Loans may not be reborrowed.
(b) Subject to the terms and conditions and relying on the representations and warranties of the Borrowers set forth herein, each Revolving Lender agrees, severally and not jointly, to make Revolving Loans, including by means of a B/A or B/A Equivalent Loan, to Canco from time to time during the Revolving Credit Availability Period, in U.S. Dollars or Canadian Dollars (as requested by Canco), in an aggregate principal amount that will not result in (i) such Revolving Lender's Applicable Percentage of the Revolving Credit Utilization exceeding such Revolving Lender's Revolving Credit Commitment or (ii) the aggregate Revolving Credit Utilization exceeding the aggregate Revolving Credit Commitments. Within the limits set forth in the preceding sentence, Canco may borrow, pay or prepay and reborrow Revolving Loans.