Common use of Commitments to Lend Clause in Contracts

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 or any larger multiple of $5,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans to the extent permitted by Section 2.11, and reborrow at any time prior to the Termination Date.

Appears in 4 contracts

Sources: Credit Agreement (At&t Capital Corp /De/), Credit Agreement (At&t Capital Corp /De/), Credit Agreement (At&t Capital Corp /De/)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 25,000,000 or any larger multiple of $5,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to the Termination DateDate under this Section.

Appears in 4 contracts

Sources: Credit Agreement (Target Corp), Credit Agreement (Target Corp), Credit Agreement (Target Corp)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section 2.01 from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 5,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b3.03(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay or, to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to the Termination DateDate under this Section 2.01.

Appears in 3 contracts

Sources: Bridge Credit Agreement (Tyco International LTD), Credit Agreement (Tyco International LTD), 364 Day Credit Agreement (Tyco International LTD)

Commitments to Lend. Each During its Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 5,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to the Termination Dateunder this Section.

Appears in 2 contracts

Sources: Credit Agreement (Harcourt General Inc), Credit Agreement (Harcourt General Inc)

Commitments to Lend. (a) Revolving Credit Loans. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section 2.01 from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 10,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b3.03(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay or, to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to the Termination DateDate under this Section 2.01.

Appears in 2 contracts

Sources: 364 Day Credit Agreement (Tyco International LTD /Ber/), 364 Day Credit Agreement (Tyco International LTD /Ber/)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and during the Revolving Credit Period; provided that, immediately after the Effective Date and prior to the Termination Date in amounts each such that loan is made, the aggregate outstanding principal amount of all Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 10,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)3.2) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans to the extent permitted by Section 2.11, 2.10 and reborrow at any time prior to during the Termination DateRevolving Credit Period under this Section.

Appears in 2 contracts

Sources: Credit Agreement (Trigon Healthcare Inc), Credit Agreement (Trigon Healthcare Inc)

Commitments to Lend. Each During the Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans lend to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 10,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans to the extent permitted by Section 2.11, and reborrow at any time prior to under this Section. The Commitments shall terminate on the Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Commercial Credit Co)

Commitments to Lend. Each During the Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 5,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this SectionSection , prepay Loans repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to during the Termination DateRevolving Credit Period under this Section.

Appears in 1 contract

Sources: Credit Agreement (Nick Acquisition Corp)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such Date; provided that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 5,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to the Termination DateDate under this Section.

Appears in 1 contract

Sources: Credit Agreement (Central Hudson Gas & Electric Corp)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts Date; provided that, immediately after each such that Loan is made, the aggregate outstanding principal amount of all Committed Loans made by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under pursuant to this Section shall be in an aggregate principal amount of $50,000,000 10,000,000 or any larger integral multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to accordance with their respective CommitmentsPercentages. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans to the extent permitted by Section 2.11, 2.12 and reborrow at any time prior to the Termination Date.Date under this Section..

Appears in 1 contract

Sources: Credit Agreement (CNF Transportation Inc)

Commitments to Lend. Each During its Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 5,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.112.12, prepay Loans and reborrow at any time prior to the Termination Dateunder this Section.

Appears in 1 contract

Sources: Credit Agreement (Neiman Marcus Group Inc)

Commitments to Lend. Each During the Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 10,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to during the Termination DateRevolving Credit Period under this Section.

Appears in 1 contract

Sources: Credit Agreement (Score Acquisition Corp)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and during the Revolving Credit Period; provided that, immediately after the Effective Date and prior to the Termination Date in amounts each such that loan is made, the aggregate outstanding principal amount of all Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 5,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)3.2) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans to the extent permitted by Section 2.11, 2.11 and reborrow at any time prior to during the Termination DateRevolving Credit Period under this Section.

Appears in 1 contract

Sources: Credit Agreement (Ultramar Diamond Shamrock Corp)

Commitments to Lend. Each During the Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 15,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to during the Termination DateRevolving Credit Period under this Section 2.01.

Appears in 1 contract

Sources: Short Term Credit Agreement (Litton Industries Inc)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and during the Revolving Credit Period; provided that, immediately after the Effective Date and prior to the Termination Date in amounts each such that loan is made, the aggregate outstanding principal amount of all Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 5,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)3.02) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans to the extent permitted by Section 2.11, 2.11 and reborrow at any time prior to during the Termination DateRevolving Credit Period under this Section.

Appears in 1 contract

Sources: Credit Agreement (Ultramar Diamond Shamrock Corp)

Commitments to Lend. Each During the Availability Period, each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans in Dollars to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 10,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b3.2(b)) and shall be made from the several Banks ratably in proportion to their respective Available Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.11, and reborrow prepay Loans at any time prior to during the Termination DateAvailability Period under this Section.

Appears in 1 contract

Sources: Credit Agreement (Ingersoll Rand Co LTD)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and during the Revolving Credit Period; provided that, immediately after the Effective Date and prior to the Termination Date in amounts each such that loan is made, the aggregate outstanding principal amount of Committed all Loans by such Bank at any one time outstanding shall not exceed the amount lesser of its CommitmentCommitment and its pro rata share of the Available Amount. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 5,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)of the unused Commitments) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans to the extent permitted by Section 2.11, 2.08 and reborrow at any time prior to during the Termination DateRevolving Credit Period under this Section.

Appears in 1 contract

Sources: Credit Agreement (Iomega Corp)

Commitments to Lend. Each Bank Lender severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section Company from time to time on and after the Effective Date and prior to the Termination Date in amounts Date; provided that, immediately after each such that loan is made, the aggregate outstanding principal amount of Committed such Lender's Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 10,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in an aggregate amount equal to the aggregate unused amount available in accordance with Section 3.02(b)of the Commitments) and shall be made from the several Banks Lenders ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower Company may borrow under this Sectionborrow, prepay Loans (to the extent permitted by Section 2.11, 2.08) and reborrow Loans at any time prior to the Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Polaroid Corp)

Commitments to Lend. Each During the Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower Company pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of $50,000,000 25,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b3.03(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower Company may borrow under this SectionSection 2.01, prepay Loans repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to during the Termination DateRevolving Credit Period under this Section 2.01.

Appears in 1 contract

Sources: Credit Agreement (Rockwell Automation Inc)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section 2.01 from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 5,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay or, to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to the Termination DateDate under this Section 2.01.

Appears in 1 contract

Sources: Credit Agreement (Tyco International LTD)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans in Dollars to the any Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding to all Borrowers shall not exceed the amount of its Commitment. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of $50,000,000 5,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b3.02(c)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the a Borrower may borrow under this Sectionborrow, prepay Loans repay, or, to the extent permitted by Section 2.112.10, prepay Loans and reborrow at any time prior to the Termination Datetime.

Appears in 1 contract

Sources: Credit Agreement (Lincoln Electric Co)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 25,000,000 or any larger multiple of $5,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to the Termination DateDate under this Section.

Appears in 1 contract

Sources: Credit Agreement (Target Corp)

Commitments to Lend. Each During the Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 15,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to during the Termination DateRevolving Credit Period under this Section.

Appears in 1 contract

Sources: Credit Agreement (Litton Industries Inc)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts Date; provided that, immediately after each such that loan is made, the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 10,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)of the unused Commitments) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.112.12, prepay Loans and reborrow at any time prior to the Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Clorox Co /De/)

Commitments to Lend. Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after alter the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 or any larger multiple of $5,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans to the extent permitted by Section 2.112.10, and reborrow at any time prior to the Termination Date.

Appears in 1 contract

Sources: Credit Agreement (Cit Group Inc)

Commitments to Lend. Each During the Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing under this Section shall be in an aggregate principal amount of $50,000,000 15,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.11, and reborrow at any time prior to the Termination Date.,

Appears in 1 contract

Sources: Credit Agreement (Litton Industries Inc)

Commitments to Lend. Each During the Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing Borrowing, under this Section shall be in an aggregate principal amount of $50,000,000 10,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b3.3(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to during the Termination DateRevolving Credit Period under this Section.

Appears in 1 contract

Sources: Credit Agreement (Meadwestvaco Corp)

Commitments to Lend. Each During the Revolving Credit Period each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time on and after the Effective Date and prior to the Termination Date in amounts such that the aggregate principal amount of Committed Loans by such Bank at any one time outstanding shall not exceed the amount of its Commitment. Each Borrowing Borrowing, under this Section shall be in an aggregate principal amount of $50,000,000 10,000,000 or any larger multiple of $5,000,000 1,000,000 (except that any such Borrowing may be in the aggregate amount available in accordance with Section 3.02(b3.3(b)) and shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section, prepay Loans repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow at any time prior to during the Termination DateRevolving Credit Period under this Section.

Appears in 1 contract

Sources: 364 Day Credit Agreement (Meadwestvaco Corp)