Commitments to Lend. Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans to the Borrower and participate in Letters of Credit issued by a Fronting Bank on behalf of the Borrower pursuant to this Section from time to time during the Availability Period in amounts such that the aggregate principal amount of Committed Revolving Loans by such Revolving Credit Bank at any one time outstanding plus such Revolving Credit Bank’s Revolving Commitment Percentage of the Letter of Credit Usage shall not exceed the amount of its Revolving Commitment. The aggregate amount of Committed Revolving Loans to be made hereunder together with the Letter of Credit Usage shall not exceed the Revolving Loan Amount. Each Borrowing under this subsection (a) shall be in an aggregate principal amount of at least $2,500,000, or an integral multiple of $500,000 in excess thereof, and shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each 2028 Revolving Credit Bank Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans in Dollars to the Borrower and participate in Letters of Credit issued by a Fronting Bank on behalf of the each Borrower pursuant to this Section 2.01(a) (each such loan, a “2028 Revolving Loan”) from time to time during the Availability Period in amounts such that its 2028 Revolving Outstandings shall not exceed its 2028 Revolving Commitment; provided, that, immediately after giving effect to each such 2028 Revolving Loan, (i) the aggregate principal amount of Committed all outstanding Revolving Loans by such Revolving Credit Bank at (after giving effect to any one time outstanding plus such Revolving Credit Bank’s Revolving Commitment Percentage of the Letter of Credit Usage amount requested) shall not exceed the amount aggregate Commitments less the sum of its Revolving Commitment. The aggregate amount of Committed Revolving all outstanding Swingline Loans to be made hereunder together with the and Letter of Credit Usage Liabilities and (ii) the Borrower Revolving Outstandings of any Borrower (after giving effect to any amount requested) shall not exceed the Revolving Loan Amountsuch Borrower’s Sublimit. Each Borrowing under this subsection of 2028 Revolving Loans (aother than Mandatory Letter of Credit Borrowings) shall be in an aggregate principal amount of at least $2,500,000, 10,000,000 or an any larger integral multiple of $500,000 1,000,000 (except that any such Borrowing of 2028 Revolving Loans may be in excess thereof, the aggregate amount of the unused 2028 Revolving Commitments) and shall be made from the several 2028 Revolving Credit Banks Lenders ratably in proportion to their respective 2028 Revolving Commitments. Subject Within the foregoing limits, each Borrower may borrow under this Section 2.01(a), repay, or, to the limitations set forth hereinextent permitted by Section 2.10, any amounts repaid may be reborrowedprepay, 2028 Revolving Loans made to it and reborrow under this Section 2.01(a).
Appears in 1 contract
Sources: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)
Commitments to Lend. Each Revolving Credit Bank severally agrees, on Subject to the terms and conditions set forth in this Agreementherein, each Lender severally agrees to make Committed Revolving Loans Advances to the Borrower and participate in Letters of Credit issued by a Fronting Bank on behalf of the Borrower pursuant to this Section from time to time during before the Availability Period in amounts Termination Date; provided that, (i) immediately after each such that Advance, the aggregate principal amount of Committed Revolving Loans Advances by such Revolving Credit Bank at any one time outstanding plus such Revolving Credit Bank’s Revolving Commitment Percentage of the Letter of Credit Usage Lender shall not exceed the amount of its Revolving Commitment, and (ii) at no time shall the aggregate outstanding principal amount of all Advances to Borrower exceed the Aggregate Commitment. The aggregate All Advances to Borrower shall be considered in determining whether the Aggregate Commitment has been exceeded in calculating the amount available for Borrowing by Borrower hereunder and in determining the amount of Committed Revolving Loans any mandatory payments required by Section 3.7(b), and for calculation of fees pursuant to be made hereunder together with the Letter of Credit Usage shall not exceed the Revolving Loan AmountSection 3.19. Each Prime Rate Borrowing under this subsection (a) Section 3.1 shall be in an aggregate principal amount of at least Two Hundred Fifty Thousand Dollars ($2,500,000, 250,000) or an integral multiple of $500,000 in excess thereof, more and each LIBOR Rate Borrowing under this Section 3.1 shall be made from in an aggregate principal amount of One Million Dollars ($1,000,000) or more (except that any such Borrowing may be in the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitmentsaggregate amount of the Unused Commitment). Subject Each Advance by a Lender shall not exceed such Lender's prorata share of the requested Advance and the Aggregate Commitment. Within the foregoing limits, the Borrower may borrow under this Section 3.1, repay or, to the limitations set forth hereinextent permitted by Section 3.7(c), prepay Advances and reborrow under this Section up to the then-remaining Unused Commitment at any amounts repaid may be reborrowedtime before the Termination Date.
Appears in 1 contract
Sources: Loan Agreement (First Interstate Bancsystem of Montana Inc)
Commitments to Lend. (a) Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving the Loans to the Borrower and participate in Letters of Credit issued by a Fronting Bank on behalf of the Borrower pursuant to this Section from time to time during the Availability Period Term in amounts such that the aggregate principal amount of Committed Revolving the Loans by such Revolving Credit Bank at any one time outstanding plus such Revolving Credit Bank’s Revolving Commitment Percentage of the Letter of Credit Usage shall not exceed the amount of its Revolving Commitment. The aggregate amount of Committed Revolving Loans to be made hereunder together with the Letter of Credit Usage shall not exceed One Hundred Fifty Million Dollars ($150,000,000) (the Revolving "Loan Amount"). Each Borrowing under this subsection (a) shall be in an aggregate principal amount of at least $2,500,000, or an integral multiple of $500,000 1,000,000 in excess thereof, thereof and shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the number of new Borrowings shall be limited to two Borrowings per calendar month.
(b) Notwithstanding anything in the preceding subparagraph (a) to the contrary, the Borrowings shall in no event exceed (and no Bank shall be deemed to have committed to fund its pro rata share of an amount which exceeds) (A) the aggregate of the Allocated Mortgaged Property Loan Amount for all Mortgaged Properties, as it may increase or decrease from time to time in accordance with the provisions hereof or (B) an amount which would result in the violation of any provision of Section 5.8(a) or (b).
Appears in 1 contract
Sources: Revolving Credit Agreement (Carramerica Realty Corp)
Commitments to Lend. Each Revolving Credit Bank Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans to the Borrower and Borrowers or participate in Letters of Credit issued by a the Fronting Bank Lender on behalf of the Borrower Borrowers pursuant to this Section Article from time to time during the Availability Period term hereof in amounts such that the aggregate principal amount of Committed Revolving Loans by such Revolving Credit Bank Lender at any one time outstanding plus such Revolving Credit BankLender’s Revolving pro rata share (based on the ratio of its Commitment Percentage to the aggregate of the all Commitments) of Letter of Credit Usage shall not exceed the amount of its Revolving Available Commitment. The aggregate amount of Committed Revolving Loans to be made hereunder together with the Letter of Credit Usage shall not exceed the Revolving Loan Amountlesser of (i) the Facility Amount and (ii) the Total Available Commitments. The aggregate dollar amount of Letters of Credit Usage shall not at any time exceed Ten Million Dollars ($10,000,000). Each Borrowing outstanding under this subsection Section 2.1 (aother than a Borrowing in connection with a draw under a Letter of Credit) shall be in an aggregate principal amount of at least $2,500,0005,000,000 (for LIBOR Loans) or $1,000,000 (for Alternate Base Rate Loans), or in each case an integral multiple of $500,000 1,000,000 in excess thereof, thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.2(c)) and shall be made from the several Revolving Credit Banks Lenders ratably in proportion to their respective Revolving Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans to the Borrower and participate in Letters of Credit issued by a the Fronting Bank on behalf of the Borrower pursuant to this Section Article from time to time during the Availability Period term hereof in amounts such that the aggregate principal amount of Committed Revolving Loans plus such Bank's Pro Rata Share of Swingline Loans by such Revolving Credit Bank at any one time outstanding plus together with such Revolving Credit Bank’s Revolving Commitment Percentage 's pro rata share of the Letter of Credit Usage shall not exceed the amount of its Revolving Commitment. The aggregate amount of Committed Revolving Loans to be made hereunder together with the Letter of Credit Usage shall not exceed the Revolving Loan Amount. Each Borrowing outstanding under this subsection (a) Section 2.1 shall be in an aggregate principal amount of at least $2,500,0003,000,000, or an integral multiple of $500,000 100,000 in excess thereofthereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. In no event shall the aggregate Loans outstanding at any time, plus outstanding Letter of Credit Usage, exceed $700,000,000, as the same may be reduced from time to time as a result of cancellation of Commitments by Borrower. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Sources: Revolving Credit Agreement (Equity Residential Properties Trust)
Commitments to Lend. Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans to the Borrower and participate in Letters of Credit issued by a the Fronting Bank on behalf of the Borrower pursuant to this Section from time to time during the Availability Period Term in amounts such that the aggregate principal amount of Committed Revolving Loans by such Revolving Credit Bank at any one time outstanding plus such Revolving Credit Bank’s Revolving 's Commitment Percentage of Swingline Loans outstanding together with such Bank's Commitment Percentage of the Letter of Credit Usage shall not exceed the amount of its Revolving Commitment. The aggregate amount of Committed Revolving Loans to be made hereunder together with the Letter of Credit Usage and outstanding Money Market Loans shall not exceed the Revolving Loan Amount. Each Borrowing under this subsection (a) shall be in an aggregate principal amount of at least $2,500,000, or an integral multiple of $500,000 in excess thereofthereof and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans to the Borrower and or participate in Letters of Credit issued by a the Fronting Bank on behalf of the Borrower pursuant to this Section Article from time to time during the Availability Period term hereof in amounts such that the aggregate principal amount of Committed Revolving Loans by such Revolving Credit Bank at any one time outstanding plus together with such Revolving Credit Bank’s Revolving 's pro rata share (based on the ratio of its Commitment Percentage to the aggregate of the all Commitments) of Letter of Credit Usage shall not exceed the amount of its Revolving Available Commitment. The aggregate amount of Committed Revolving Loans to be made hereunder together with the Letter of Credit Usage shall not exceed the Revolving Loan Amountlesser of (i) Two Hundred Million Dollars ($200,000,000) or (ii) the Total Available Commitments (subject, however, to the right to cure as set forth in Section 2.10(a), provided the LTV Ratios do not exceed 57%, as set forth therein, or Section 2.10(c), and provided further that during such cure period, the Borrower may only borrow in order to acquire a New Acquisition that will cure any Default under Sections 2.10(a) or (c)), and the aggregate dollar amount of all Letters of Credit issued and outstanding shall not exceed Thirty Million Dollars ($30,000,000). Each Borrowing outstanding under this subsection Section 2.1 (aother than a Borrowing in connection with a draw under a Letter of Credit) shall be in an aggregate principal amount of at least $2,500,000, or an integral multiple of $500,000 100,000 in excess thereof, thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.2(c)) and shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Sources: Revolving Credit Agreement (Trinet Corporate Realty Trust Inc)
Commitments to Lend. Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans to the Borrower and participate in Letters of Credit issued by a the Fronting Bank on behalf of the Borrower pursuant to this Section Article from time to time during the Availability Period term hereof in amounts such that the aggregate principal amount of Committed Revolving Loans plus such Bank's Pro Rata Share of Swingline Loans by such Revolving Credit Bank at any one time outstanding plus together with such Revolving Credit Bank’s Revolving Commitment Percentage 's pro rata share of the Letter of Credit Usage shall not exceed the amount of its Revolving Commitment. The aggregate amount of Committed Revolving Loans to be made hereunder together with the Letter of Credit Usage shall not exceed the Revolving Loan Amount. Each Borrowing outstanding under this subsection (a) Section 2.1 shall be in an aggregate principal amount of at least $2,500,0003,000,000, or an integral multiple of $500,000 100,000 in excess thereofthereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. In no event shall the aggregate Loans outstanding at any time, plus outstanding Letter of Credit Usage, exceed $700,000,000. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Sources: Revolving Credit Agreement (Equity Residential Properties Trust)
Commitments to Lend. (a) Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans to the Borrower and participate in Letters of Credit issued by a the Fronting Bank on behalf of the Borrower pursuant to this Section Article from time to time during the Availability Period term hereof in amounts such that the aggregate principal amount of Committed Revolving Loans plus such Bank’s Pro Rata Share of Swingline Loans by such Revolving Credit Bank at any one time outstanding plus together with such Revolving Credit Bank’s Revolving Commitment Percentage Pro Rata Share of the Letter of Credit Usage shall not exceed the amount of its Revolving Commitment. The aggregate amount of Committed Revolving Loans to be made hereunder together with the Letter of Credit Usage shall not exceed the Revolving Loan Amount. Each Borrowing outstanding under this subsection (a) Section 2.1 shall be in an aggregate principal amount of at least $2,500,0003,000,000, or an integral multiple of $500,000 100,000 in excess thereofthereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. In no event shall the aggregate Loans outstanding at any time, plus outstanding Letter of Credit Usage, exceed $1,000,000,000, as the same may be reduced from time to time as a result of cancellation of Commitments by Borrower, or increased pursuant to Section 2.1(b) hereof. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each 2026 Revolving Credit Bank Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans in Dollars to the Borrower and participate in Letters of Credit issued by a Fronting Bank on behalf of the each Borrower pursuant to this Section 2.01(a) (each such loan, a “2026 Revolving Loan”) from time to time during the Availability Period in amounts such that its 2026 Revolving Outstandings shall not exceed its 2026 Revolving Commitment; provided, that, immediately after giving effect to each such 2026 Revolving Loan, (i) the aggregate principal amount of Committed all outstanding Revolving Loans by such Revolving Credit Bank at (after giving effect to any one time outstanding plus such Revolving Credit Bank’s Revolving Commitment Percentage of the Letter of Credit Usage amount requested) shall not exceed the amount aggregate Commitments less the sum of its Revolving Commitment. The aggregate amount of Committed Revolving all outstanding Swingline Loans to be made hereunder together with the and Letter of Credit Usage Liabilities and (ii) the Borrower Revolving Outstandings of any Borrower (after giving effect to any amount requested) shall not exceed the Revolving Loan Amountsuch Borrower’s Sublimit. Each 2026 Revolving Borrowing under this subsection (aother than Mandatory Letter of Credit Borrowings) shall be in an aggregate principal amount of at least $2,500,000, 10,000,000 or an any larger integral multiple of $500,000 1,000,000 (except that any such 2026 Revolving Borrowing may be in excess thereof, the aggregate amount of the unused 2026 Revolving Commitments) and shall be made from the several 2026 Revolving Credit Banks Lenders ratably in proportion to their respective 2026 Revolving Commitments. Subject Within the foregoing limits, each Borrower may borrow under this Section 2.01(a), repay, or, to the limitations set forth hereinextent permitted by Section 2.10, any amounts repaid may be reborrowedprepay, 2026 Revolving Loans made to it and reborrow under this Section 2.01(a).
Appears in 1 contract
Sources: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)
Commitments to Lend. (a) Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans to the Borrower and participate in Letters of Credit issued by a the Fronting Bank on behalf of the Borrower pursuant to this Section Article from time to time during the Availability Period term hereof in amounts such that the aggregate principal amount of Committed Revolving Loans by such Revolving Credit Bank at any one time outstanding plus such Revolving Credit Bank’s Revolving Commitment Percentage 's Pro Rata Share of Swingline Loans outstanding together with such Bank's pro rata share of the Letter of Credit Usage at such time shall not exceed the its Commitment. Each Euro-Dollar Borrowing outstanding under this Section 2.1 shall be in an aggregate principal amount of its Revolving Commitment. The aggregate amount $5,000,000, or an integral multiple of Committed Revolving Loans to be made hereunder together with $1,000,000 in excess thereof, and each Base Rate Borrowing (or Borrowing bearing interest at the Letter of Credit Usage shall not exceed the Revolving Loan Amount. Each Borrowing under this subsection (aOffered Rate) shall be in an aggregate principal amount of at least $2,500,0001,000,000, or an integral multiple of $500,000 1,000,000 in excess thereofthereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. In no event shall the aggregate Loans outstanding at any time, plus the Letter of Credit Usage, exceed $750,000,000 (as adjusted pursuant to paragraph (b) of this Section 2.1, Section 2.11(e) or as may otherwise be provided in this Agreement, the "Facility Amount"). Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans revolving loans to the Borrower and participate in Letters of Credit issued by a Fronting Bank on behalf of the Borrower Borrowers pursuant to this Section from time to time during on and after the Availability Period in amounts Effective Date and prior to the Termination Date; provided that, immediately after each such that loan is made (and after giving effect to any substantially concurrent application of the aggregate principal amount of proceeds thereof to repay outstanding Committed Revolving Loans by and Swingline Loans):
(i) such Revolving Credit Bank at any one time outstanding plus such Revolving Credit Bank’s Revolving Commitment Percentage of Outstanding Committed Amount shall not exceed its Commitment;
(ii) the Letter of Credit Total Usage shall not exceed the amount of its Revolving Commitment. The Total Commitments; and
(iii) subject to Section 3.03(c), the aggregate outstanding principal amount of Committed Revolving Loans and Money Market Loans (x) to be made hereunder Foot Locker Europe B.V. does not exceed $40,000,000 and (y) to the Company, together with the Letter aggregate outstanding principal amount of Credit Usage shall Swingline Loans, does not exceed the Revolving Loan Amount$50,000,000. Each Base Rate Borrowing under this subsection (a) Section 2.01 shall be in an aggregate principal amount of at least $2,500,000, 2,500,000 or an integral any larger multiple of $500,000 in excess thereof1,000,000, and each Euro-Dollar Borrowing shall be in an aggregate principal amount of $5,000,000 or any larger multiple of $1,000,000; provided that (x) any such Borrowing may be in an aggregate amount equal to the aggregate unused amount of the Commitments and (y) if such Borrowing is made on the Swingline Maturity Date, such Borrowing may be in the aggregate amount of the Swingline Loans outstanding on such date. Each such Borrowing shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. Subject Within the foregoing limits and subject to Section 2.11, the Borrowers may borrow under this
Section 2.01 prepay Loans to the limitations set forth hereinextent permitted by Section 2.13, and reborrow under this Section 2.01 at any amounts repaid may be reborrowedtime prior to the Termination Date.
Appears in 1 contract
Sources: Credit Agreement (Foot Locker Inc)
Commitments to Lend. (a) (i) Each Revolving Credit Bank severally ------------------- agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans to the Borrower and or participate in Letters of Credit issued by a the Fronting Bank on behalf of the Borrower pursuant to this Section Article from time to time during the Availability Period term hereof in amounts such that the aggregate principal amount of Committed Revolving Loans by such Revolving Credit Bank at any one time outstanding plus together with such Revolving Credit Bank’s Revolving 's pro rata share (based on the ratio of its Commitment Percentage to the aggregate of the all Commitments) of Letter of Credit Usage shall not exceed the amount of its Revolving Available Commitment. The aggregate amount of Committed Revolving Loans to be made hereunder (including Swing Loans) together with the Letter of Credit Usage and outstanding Money Market Loans shall not exceed the Revolving Loan Amountlesser of (i) Three Hundred Fifty Million Dollars ($350,000,000) (as such amount may be increased pursuant to Section 9.18) or (ii) the Total Available Commitments (subject, however, to the right to cure as set forth in Section 2.11(a), provided the LTV Ratio does not exceed 60%, as set forth therein, or Section 2.11(c), and provided further that during such cure period, the Borrower may only borrow in order to acquire a New Acquisition that will cure any Default under Sections 2.11(a) or (c)), and the aggregate dollar amount of all Letters of Credit issued and outstanding shall not exceed Thirty Million Dollars ($30,000,000). Each Borrowing outstanding under this subsection Section 2.1 (aother than a Borrowing in connection with a draw under a Letter of Credit) shall be in an aggregate principal amount of at least $2,500,000, or an integral multiple of $500,000 100,000 in excess thereof, thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.2(c)) and shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Sources: Revolving Credit Agreement (Trinet Corporate Realty Trust Inc)
Commitments to Lend. Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make the Committed Revolving Loans to the Borrower and participate in Letters of Credit issued by a the Fronting Bank on behalf of the Borrower pursuant to this Section 2.16 from time to time time, during the Availability Period Term in amounts such that the sum of (i) the aggregate principal amount of Committed Revolving Loans by such Revolving Credit Bank at any one time outstanding outstanding, plus (ii) such Revolving Credit Bank’s Revolving Commitment Percentage pro rata share of the Letter of Credit Usage shall not exceed the amount of its Revolving such Bank’s Commitment (in no event shall a Bank’s participation in a Money Market Loan reduce a Bank’s Commitment). The aggregate amount of Committed Revolving Loans to be made hereunder together with the aggregate pro rata share of principal amount of Money Market Loans participated in by such Bank (or its Designated Bank) and the Letter of Credit Usage shall not exceed the Revolving Loan Amountaggregate Commitments of the Banks. Each Committed Borrowing under this subsection (a) Section 2.1 shall be in an aggregate principal amount of at least $2,500,000, or an integral multiple of $500,000 1,000,000 in excess thereofthereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.2(b)) and, and other than with respect to Money Market Loans, shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the number of new Borrowings shall be limited to four Borrowings per month and no more than ten Borrowings shall be outstanding at any time.
Appears in 1 contract
Sources: Revolving Credit Agreement (Carramerica Realty Corp)
Commitments to Lend. Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans to the Borrower and or participate in Letters of Credit issued by a the Fronting Bank on behalf of the Borrower pursuant to this Section Article from time to time during the Availability Period term hereof in amounts such that the aggregate principal amount of Committed Revolving Loans by such Revolving Credit Bank at any one time outstanding plus together with such Revolving Credit Bank’s Revolving 's pro rata share (based on the ratio of its Commitment Percentage to the aggregate of the all Commitments) of Letter of Credit Usage shall not exceed the amount of its Revolving Available Commitment. The aggregate amount of Committed Revolving Loans to be made hereunder together with the Letter of Credit Usage and outstanding Money Market Loans shall not exceed the Revolving Loan Amountlesser of (i) Two Hundred Million Dollars ($200,000,000) or (ii) the Total Available Commitments (subject, however, to the right to cure as set forth in Section 2.11(a), provided the LTV Ratios do not exceed 60%, as set forth therein, or Section 2.11(c), and provided further that during such cure period, the Borrower may only borrow in order to acquire a New Acquisition that will cure any Default under Sections 2.11(a) or (c)), and the aggregate dollar amount of all Letters of Credit issued and outstanding shall not exceed Thirty Million Dollars ($30,000,000). Each Borrowing outstanding under this subsection Section 2.1 (aother than a Borrowing in connection with a draw under a Letter of Credit) shall be in an aggregate principal amount of at least $2,500,000, or an integral multiple of $500,000 100,000 in excess thereof, thereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.2(c)) and shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Sources: Revolving Credit Agreement (Trinet Corporate Realty Trust Inc)
Commitments to Lend. Each Revolving Credit Bank severally agrees, on the terms and conditions set forth in this Agreement, to make Committed Revolving Loans to the Borrower and participate in Letters of Credit issued by a the Fronting Bank on behalf of the Borrower pursuant to this Section Article from time to time during the Availability Period term hereof in amounts such that the aggregate principal amount of Committed Revolving Loans by such Revolving Credit Bank at any one time outstanding plus such Revolving Credit Bank’s Revolving Commitment Percentage 's Pro Rata Share of Swingline Loans outstanding together with such Bank's pro rata share of the Letter of Credit Usage at such time shall not exceed the amount of its Revolving Commitment. The aggregate amount of Committed Revolving Loans to be made hereunder together with the Letter of Credit Usage shall not exceed the Revolving Loan Amount. Each Borrowing outstanding under this subsection (a) Section 2.1 shall be in an aggregate principal amount of at least $2,500,0005,000,000, or an integral multiple of $500,000 1,000,000 in excess thereofthereof (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit or to repay the Swingline Lender the amount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Revolving Credit Banks ratably in proportion to their respective Revolving Commitments. Subject to the provisions of Section 9.20 hereof, in no event shall the aggregate Loans outstanding at any time, plus outstanding Letter of Credit Usage, exceed $500,000,000 (the "Facility Amount"). Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract