Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Bank severally agrees, on the terms and conditions set forth in this Agreement, to lend to the Borrower pursuant to this Section 2.01 from time to time amounts such that, upon giving effect to each such Borrowing: (i) the then aggregate outstanding principal Dollar Amount of all Syndicated Loans made by such Bank to the Borrower shall not exceed the amount of such Bank's Commitment then in effect and (ii) the then aggregate outstanding principal Dollar Amount of all Syndicated Loans and all Money Market Loans made by the Banks to the Borrower shall not exceed the aggregate amount of the Commitments then in effect. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of $10,000,000 (or the Approximate Equivalent Amount thereof) or a larger multiple of $1,000,000 (or the Approximate Equivalent Amount thereof) (except that any such Borrowing may be in the aggregate amount of the unused Commitments or the Equivalent Amount thereof) 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 2.01, repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow under this Section 2.01 at any time prior to the Termination Date. Subject to the preceding provisions of this Section 2.01, each Bank severally agrees to make Euro-Currency Loans in the Agreed Currencies.
Appears in 2 contracts
Samples: Credit Agreement (Arco Chemical Co), Credit Agreement (Arco Chemical Co)
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, Agreement to lend make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrower Borrowers and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers pursuant to this Section 2.01 Article from time to time during the term hereof in amounts such that, upon giving effect to each such Borrowing: that (i) the then aggregate outstanding principal Dollar Equivalent Amount of all Syndicated Aggregate Loans made by such Bank to at any one time outstanding together with (a) the Borrower Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage at such time and (b) if applicable, the Dollar Equivalent Amount of such Bank’s Pro Rata Share of Rupee Letter of Credit Usage, shall not exceed the amount Dollar Equivalent Amount of such Bank's Commitment then in effect its Commitment, and (ii) the then aggregate outstanding principal Dollar Equivalent Amount of all Syndicated Loans and all Money Market Loans made by such Bank at any time outstanding in respect of a Tranche together with the Banks to the Borrower Dollar Equivalent Amount of such Bank’s pro rata share of Letter of Credit Usage in respect of such Tranche shall not exceed the aggregate amount Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the Commitments case of a Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate, as applicable, for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then in effecthave an Investment Grade Rating from both S&P and Mxxxx’x. Each Borrowing outstanding under this Section 2.01 2.1 of: (A) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of $10,000,000 (1,000,000, or the Approximate Equivalent Amount thereof) or a larger an integral multiple of $1,000,000 500,000 in excess thereof; (B) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or the Approximate Equivalent Amount an integral multiple of HK$4,000,000 in excess thereof; (C) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (D) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (E) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; (F) Euro-Dollar Loans denominated in Pounds Sterling shall be in an aggregate principal amount of £500,000, or an integral multiple of £250,000 in excess thereof; and (G) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); and each Borrowing in respect of the unused Commitments or Tranche specified in the Equivalent Amount thereof) and applicable Notice of Borrowing shall be made from the several Applicable Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow under this Section 2.01 at any time prior to the Termination DateCurrency Commitments for such Tranche. Subject to the preceding provisions of this Section 2.012.15 hereof, each Bank severally agrees in no event shall the aggregate Dollar Equivalent Amount of all Aggregate Loans outstanding at any time, plus the Dollar Equivalent Amount of Letter of Credit Usage, plus the Dollar Equivalent Amount of Rupee Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to make Euro-Currency Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Agreed CurrenciesDollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Amb Property Lp), Revolving Credit Agreement (Amb Property Corp)
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to lend make Loans to the Borrower and to Qualified Borrowers and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower and Qualified Borrowers pursuant to this Section 2.01 Article from time to time during the term hereof in amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Equivalent Amount of all Syndicated Committed Loans made by such Bank to at any one time outstanding plus such Bank’s Pro Rata Share of Swingline Loans outstanding together with such Bank’s Pro Rata Share of the Borrower Letter of Credit Usage at such time shall not exceed the amount Dollar Equivalent Amount of its Commitment (provided, in the case of any Loan in an Alternate Currency, (i) such Bank's Commitment then in effect Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (ii) the then aggregate outstanding principal Dollar Amount of all Syndicated Loans and all Reuters Monitor Money Market Loans made by the Banks Rates Service (or any successor thereto) reports a London Interbank Offered Rate for such Alternate Currency relating to the applicable Interest Period, and (iii) Borrower shall not exceed the aggregate amount of the Commitments then in effecthave an Investment Grade Rating from both S&P and Mxxxx’x). Each Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount Dollar Equivalent Amount of $10,000,000 5,000,000 (or or, with respect to an Alternate Currency Borrowing only, the Approximate Dollar Equivalent Amount thereof) of $3,000,000), or a larger an integral multiple of the Dollar Equivalent Amount of $1,000,000 (or the Approximate Equivalent Amount thereof) in excess thereof (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 unused Commitments or Swingline Lender the Equivalent Amount thereofamount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within Subject to the foregoing limitsprovisions of Section 9.19 hereof, in no event shall the aggregate Dollar Equivalent Amount of Loans outstanding at any time, plus outstanding Dollar Equivalent Amount of the Letter of Credit Usage, exceed $550,000,000 (as adjusted pursuant to Section 9.19, the Borrower may borrow under this Section 2.01“Facility Amount”), repay, or with Loans denominated in Alternate Currencies and Letter of Credit Usage for Alternate Currency Letters of Credit being marked to market monthly on the extent permitted by Section 2.11, prepay Loans and reborrow under this Section 2.01 at any time prior to the Termination Datelast Business Day of each month. Subject to the preceding provisions of this Section 2.01limitations set forth herein, each Bank severally agrees to make Euro-Currency Loans in the Agreed Currenciesany amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. From Each of the date hereof to but not ------------------- including the Termination Date, each Bank severally Banks agrees, on the terms and conditions set forth in this Agreementherein, to lend make Loans (which may be, at the option of the Borrower and subject to the terms and conditions hereof, Base Rate Loans, Euro-Dollar Loans or Foreign Currency Loans) to the Borrower pursuant to this Section 2.01 from time to time amounts such before the Termination Date; provided that, upon giving effect to immediately after each such Borrowing: Loan is made,
(i) the then sum of the aggregate outstanding principal amount of Base Rate Loans and Euro-Dollar Amount Loans and the Dollar Equivalent of all Syndicated Foreign Currency Loans made by such Bank to the Borrower shall not exceed the amount of such Bank's Commitment then in effect and its Commitment, and
(ii) the then aggregate outstanding principal Dollar Amount amount of all Syndicated Base Rate Loans and Euro-Dollar Loans of all Money Market Banks and the Dollar Equivalent of the aggregate principal amount of the Foreign Currency Loans made by the of all Banks to the Borrower shall not exceed the aggregate amount of all of the Commitments Commitments. The Dollar Equivalent of each Foreign Currency Loan on the date each Foreign Currency Loan is disbursed pursuant hereto shall be deemed to be the amount of such Foreign Currency Loan outstanding for the purpose of calculating the aggregate outstanding principal amount of the Foreign Currency Loans for purposes of the foregoing clause(ii); provided, however, that if at the time of receipt of any Notice of Borrowing, the aggregate outstanding principal amount of all Base Rate Loans and Euro- Dollar Loans and the Dollar Equivalent of the aggregate principal amount of the Foreign Currency Loans of all Banks is equal to or greater than 75% of all of the Commitments, then the Dollar Equivalent of each Foreign Currency Loan shall be calculated as of such date, rather than as of the date such Foreign Currency Loans were disbursed, and in effectthe event that, as a result of such calculation, the aggregate outstanding principal amount of all Base Rate Loans and Euro-Dollar Loans and the Dollar Equivalent of the aggregate principal amount of the Foreign Currency Loans exceeds the aggregate amount of the Commitments, then (i) no Borrowing shall be made in an amount which would cause the limits set forth in the proviso contained in the first sentence of this Section 2.01 to be exceeded, and (ii) the Foreign Currency Loans shall be subject to mandatory repayment pursuant to the provisions of Section 2.10(b), if applicable, and until such prepayment is made, no additional Borrowings shall be permitted. Each Fixed Rate Borrowing under this Section 2.01 shall be in an aggregate principal amount of $10,000,000 5,000,000 (or the Approximate Dollar Equivalent Amount thereofthereof in the Foreign Currency) or a any larger integral multiple of $1,000,000 (or the Approximate Dollar Equivalent Amount thereof) thereof in the Foreign Currency); each Base Rate Borrowing under this Section shall be in an aggregate principal amount of $1,000,000 or any larger integral multiple of $500,000 (except that any such Base Rate Borrowing may be in the aggregate amount of the unused Commitments or the Equivalent Amount thereof) and shall be made from the several Banks ratably in proportion to their respective CommitmentsUnused Commitment). Within the foregoing limits, the Borrower may borrow under this Section 2.01Section, repayrepay or, or to the extent permitted by Section 2.112.09, prepay Loans and reborrow under this Section 2.01 at any time prior to before the Termination Date. Subject Notwithstanding the foregoing, if there shall occur on or prior to the preceding provisions date of this Section 2.01any Foreign Currency Loan any change in national or international financial, each Bank severally agrees political or economic conditions or currency exchange rates or exchange controls which would in the opinion of the Agent make it impracticable to make Euro-such Foreign Currency Loans in Loan, then the Agreed CurrenciesAgent shall forthwith give notice thereof to the Borrower and the Banks, and such Foreign Currency Loan shall be made on such date as Base Rate Loans, unless the Borrower notifies the Agent at least two Domestic Business Days before such date that it elects not to borrow on such date.
Appears in 1 contract
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, Agreement to lend make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrower Borrowers and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers pursuant to this Section 2.01 Article from time to time during the term hereof in amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Amount amount of all Syndicated Loans made by such Bank to the Borrower at any one time outstanding together with such Bank’s pro rata share of Letter of Credit Usage at such time shall not exceed the amount Dollar Equivalent Amount of its Commitment; provided, that, in the case of a Euro-Dollar Loan denominated in an Alternate Currency, (i) such Bank's Commitment then in effect Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (ii) except in the then aggregate outstanding principal Dollar Amount case of all Syndicated Loans and all Money Market Loans made by Canadian Dollars, the Banks Reuters screen (or any successor thereto) reports an Interbank Offered Rate for such Alternate Currency relating to the Borrower applicable Interest Period, and (iii) AMB LP shall not exceed the aggregate amount of the Commitments then in effecthave an Investment Grade Rating from both S&P and Xxxxx’x. Each Borrowing outstanding under this Section 2.01 2.1 of: (a) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of $10,000,000 (1,000,000, or the Approximate Equivalent Amount thereof) or a larger an integral multiple of $1,000,000 500,000 in excess thereof; (b) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or the Approximate Equivalent Amount an integral multiple of HK$4,000,000 in excess thereof; (c) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (d) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (e) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of €1,000,000, or an integral multiple of €500,000 in excess thereof; and (f) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of the unused Commitments or the Equivalent Amount thereof) Credit); and each Borrowing shall be made from the several Banks ratably in proportion to their respective Commitments. Within Subject to the foregoing limitsprovisions of Section 2.15 hereof, in no event shall the aggregate Dollar Equivalent Amount of all Loans outstanding at any time, plus outstanding Dollar Equivalent Amount of Letter of Credit Usage, exceed $250,000,000 (as adjusted pursuant to Section 2.15, the Borrower may borrow under this “Facility Amount”) except as provided in Section 2.012.10, repay, or to with all Loans denominated in Alternate Currencies being marked-to-market in the extent permitted by manner set forth in Section 2.11, prepay Loans and reborrow under this Section 2.01 at any time prior to the Termination Date2.10. Subject to the preceding provisions of this Section 2.01limitations set forth herein, each Bank severally agrees to make Euro-Currency Loans in the Agreed Currenciesany amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in of this Agreement, to lend make loans to the Borrower pursuant Company and to this Section 2.01 Approved Subsidiary Borrowers in Dollars and in Agreed Foreign Currencies, ratably in proportion to the respective unutilized Commitments of the Banks, during the period from and including the Effective Date to but not including the Termination Date for such Bank in an aggregate principal amount at any one time outstanding up to but not exceeding the amount of the unutilized Commitment of such Bank as in effect from time to time amounts such time, provided that, upon giving effect to immediately after each such Borrowing: Loan is made, (i) the then aggregate outstanding principal Dollar Amount amount of all Syndicated Loans made by such Bank to Letter of Credit Exposures, together with the Borrower shall not exceed the aggregate principal amount of such Bank's Commitment then in effect and (ii) the then aggregate outstanding principal Dollar Amount of all Syndicated Committed Loans and all Money Market Loans made by the Banks to the Borrower shall Negotiated Rate Loans, may not exceed the aggregate amount of the Commitments then as in effect. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of $10,000,000 effect from time to time and (or the Approximate Equivalent Amount thereofii) or a larger multiple of $1,000,000 (or the Approximate Equivalent Amount thereof) (except that any such Borrowing may be in the aggregate amount of any Bank's Letter of Credit Exposure, together with the unused Commitments or the Equivalent Amount thereof) 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 2.01, repay, or to the extent permitted by Section 2.11, prepay aggregate unpaid principal amount of such Bank's Committed Loans and reborrow under this Section 2.01 at any time prior to Negotiated Rate Loans, may not exceed the Termination Dateaggregate amount of such Bank's Commitment. Subject to the preceding provisions terms and conditions of this Section 2.01Agreement, each Bank severally agrees to make during such period the Company and any such Approved Subsidiary Borrowers may borrow, repay and reborrow the amount of the Commitments by means of Base Rate Loans in Dollars and Euro-Currency Loans in any Agreed Foreign Currency; provided that no more than twenty (20) separate Interest Periods for both Euro-Currency Loans and Competitive Loans may be outstanding at the Agreed same time (for which purpose Interest Periods described in different lettered clauses of the definition of the term `Interest Period', and Interest Period for Loans in different Currencies, shall be deemed to be different Interest Periods even if they are coterminous).
Appears in 1 contract
Samples: Credit Agreement (Honeywell Inc)
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreementherein, to lend make Syndicated Loans in Dollars or Offshore Currencies (as specified in the Notice of Borrowing) to the Borrower pursuant to this Section 2.01 from time to time amounts such before the Termination Date; provided that, upon giving effect to immediately after each such Borrowing: Syndicated Loan is made, (i) the then Dollar Equivalent Amount of the aggregate principal amount outstanding principal Dollar Amount of all Syndicated Loans made by such Bank to the Borrower shall not exceed the amount of such Bank's Commitment then in effect and its Commitment, (ii) the then Dollar Equivalent Amount of the aggregate outstanding principal Dollar Amount amount of all Syndicated Loans and all Loans, Money Market Loans made by the Banks to the Borrower and Swing Line Loans outstanding shall not exceed the Total Revolving Credit Commitment, and (iii) the Dollar Equivalent Amount of the aggregate principal amount of all Offshore Loans shall not exceed the Commitments then Total Alternate Currency Sublimit. In the event that, at any time, any of the limits set forth in effect(i), (ii) or (iii) of the immediately preceding sentence are exceeded, the Borrower agrees to immediately make such payments and prepayments as shall be necessary to comply with each such provision. Each Syndicated Borrowing under this Section 2.01 shall be in the Dollar Equivalent Amount of an aggregate principal amount of (i) in the case of Base Rate Loans, $10,000,000 (1,000,000 or the Approximate Equivalent Amount thereof) or a any larger multiple of $1,000,000 500,000, and (ii) in the case of Euro_Dollar Loans and Offshore Loans, $5,000,000 (or the Approximate Dollar Equivalent Amount thereofthereof in any Offshore Currency) or any larger multiple of $500,000 (or the Dollar Equivalent Amount thereof in any Offshore Currency), except that any such Syndicated Borrowing, whether a Base Rate Borrowing, a Euro_Dollar Borrowing or an Offshore Borrowing, may be in the Dollar Equivalent Amount of the aggregate principal amount of the unused Commitments or the Equivalent Amount thereof) and Unused Commitments. Each Syndicated Borrowing under this Section 2.01 shall be made from the several Banks ratably in proportion to their respective Commitments. Any Bank's Money Market Loans shall not reduce such Bank's Commitment, or be included in calculating its Unused Commitment, for purposes of future Borrowings under this Section 2.01. Within the foregoing limits, the Borrower may borrow under this Section 2.01, repayrepay or, or to the extent permitted by Section 2.112.10, prepay Syndicated Loans and reborrow under this Section 2.01 at any time prior to before the Termination Date. Subject to the preceding provisions of this Section 2.01, each Bank severally agrees to make Euro-Currency Loans in the Agreed Currencies.
Appears in 1 contract
Samples: Credit Agreement (Home Depot Inc)
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, (a) to lend make Committed Loans to the Borrower and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower pursuant to this Section 2.01 Article from time to time amounts during the term hereof in Dollar Equivalent Amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Equivalent Amount of all Syndicated Committed Loans made by such Bank to at any one time outstanding plus such Bank’s Pro Rata Share of Swingline Loans outstanding together with such Bank’s Pro Rata Share of the Borrower Letter of Credit Usage at such time shall not exceed the amount Dollar Equivalent Amount of its Commitment (it being understood and agreed that Banks with Dollar Commitments shall only be obligated to fund in Dollars with respect to such Dollar Commitments), and (b) in furtherance and clarification of the foregoing, as to Banks with a Multi-Currency Commitment, to participate in Alternate Currency Letters of Credit issued by the Fronting Bank on behalf of Borrower pursuant to this Article and to make Euro-Currency Loans to Borrower denominated in any Alternate Currency at any time and from time to time during the Term, in an aggregate principal Dollar Equivalent Amount not to exceed such Bank's Commitment then in effect and (ii) the then aggregate outstanding principal Dollar Amount of all Syndicated Loans and all Money Market Loans made by the Banks to the Borrower shall not exceed the aggregate amount of the Commitments then in effect’s Multi-Currency Commitment. Each Euro-Currency Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount Dollar Equivalent Amount of approximately $10,000,000 5,000,000, or an integral multiple of a Dollar Equivalent Amount of approximately $1,000,000 in excess thereof, and each Base Rate Borrowing (or Borrowing bearing interest at the Approximate Offered Rate) shall be in an aggregate principal Dollar Equivalent Amount thereof) of approximately $1,000,000, or a larger an integral multiple of a Dollar Equivalent Amount of approximately $1,000,000 (or the Approximate Equivalent Amount thereof) in excess thereof (except that any such Borrowing may be in the aggregate amount of the unused Commitments available in accordance with Section 3.2(b), or the in any Dollar Equivalent Amount thereofrequired 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 Banks ratably in proportion to their respective Commitments. Within In no event shall the foregoing limitsaggregate Dollar Equivalent Amount of Loans outstanding at any time, plus the Dollar Equivalent Amount of the Letter of Credit Usage, exceed $2,200,000,000 (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 Borrower may borrow under this Section 2.01, repay, or “Facility Amount”). In no event shall the aggregate Dollar Equivalent Amount of Loans attributable to the extent permitted by Section 2.11, prepay Loans and reborrow under this Section 2.01 Multi-Currency Commitments outstanding at any time prior time, plus the Dollar Equivalent Amount of the Letter of Credit Usage with respect to Letters of Credit attributable to the Termination DateMulti-Currency Commitments, exceed $750,000,000 (“Multi-Currency Facility Amount”). Subject to the preceding provisions of this Section 2.01limitations set forth herein, each Bank severally agrees to make Euro-Currency Loans in the Agreed Currenciesany amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, (a) to lend make Loans to the Borrower and to the Qualified Borrowers pursuant to this Section 2.01 Article from time to time during the term hereof in amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Amount amount of all Syndicated Committed Loans made by such Bank to at any one time outstanding plus such Bank’s Pro Rata Share of Swingline Loans outstanding at such time together with such Bank’s pro rata share of the Borrower Letter of Credit Usage at such time shall not exceed the amount Dollar Equivalent Amount of its Commitment, and (b) in furtherance and clarification of the foregoing, as to Banks with an Alternate Currency Commitment only, to participate in Alternate Currency Letters of Credit issued by the Fronting Bank on behalf of Borrower or the Qualified Borrowers pursuant to this Article and to make Euro-Dollar Loans to Borrower and to the Qualified Borrowers denominated in any Alternate Currency (provided (i) such Bank's Commitment then in effect Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, and (ii) the then Reuters Monitor Money Rates Service (or any successor thereto) reports a London Interbank Offered Rate for such Alternate Currency relating to the applicable Interest Period, in an aggregate outstanding principal Dollar Equivalent Amount of all Syndicated Loans and all Money Market Loans made by the Banks not to the Borrower shall not exceed the aggregate amount of the Commitments then in effectsuch Bank’s Alternate Currency Commitment. Each Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount Dollar Equivalent Amount of $10,000,000 (5,000,000, or an integral multiple of the Approximate Dollar Equivalent Amount thereof) or a larger multiple of $1,000,000 (or the Approximate Equivalent Amount thereof) 100,000 in excess thereof (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 unused Commitments or Swingline Lender the Equivalent Amount thereofamount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within In no event shall (i) the foregoing limitsaggregate Dollar Equivalent Amount of Loans outstanding at any time, plus outstanding Dollar Equivalent Amount of the Letter of Credit Usage, exceed $2,500,000,000, the Borrower may borrow under this Section 2.01, repay“Facility Amount”), or (ii) the aggregate amount of Loans denominated in an Alternate Currency plus the outstanding Letter of Credit Usage for Alternate Currency Letters of Credit exceed the Alternate Currency Sublimit, with, in the case of both clauses (i) and (ii), Loans denominated in Alternate Currencies and Letter of Credit Usage for Alternate Currency Letters of Credit being marked to market monthly on the last Business Day of each month. Notwithstanding any other provision of this Agreement to the contrary, each Borrowing denominated in Dollars shall be deemed to use the Dollar Commitments to the extent permitted by Section 2.11the Dollar Sublimit would not be exceeded thereby, prepay Loans and reborrow under this Section 2.01 at any time prior to use the Termination DateAlternate Currency Commitments if such Alternate Currency Commitments are available in the event that the Dollar Commitments would be so exceeded. Subject to the preceding provisions of this Section 2.01limitations set forth herein, each Bank severally agrees to make Euro-Currency Loans in the Agreed Currenciesany amounts repaid may be reborrowed.
Appears in 1 contract
Samples: Revolving Credit Agreement (Eop Operating LTD Partnership)
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, (a) to lend make Loans to the Borrower and to Qualified Borrowers and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower and Qualified Borrowers pursuant to this Section 2.01 Article from time to time during the term hereof in amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Amount amount of all Syndicated Committed Loans made by such Bank to at any one time outstanding plus such Bank's Pro Rata Share of Swingline Loans outstanding together with such Bank's pro rata share of the Borrower Letter of Credit Usage at such time shall not exceed the amount Dollar Equivalent Amount of its Commitment, and (b) in furtherance and clarification of the foregoing, as to Banks with an Alternate Currency Commitment only, to participate in Alternate Currency Letters of Credit issued by the Fronting Bank on behalf of Borrower and Qualified Borrowers pursuant to this Article and to make Euro-Dollar Loans to Borrower and Qualified Borrowers denominated in any Alternate Currency (provided (i) such Bank's Commitment then in effect Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (ii) the Reuters Monitor Money Rates Service (or any successor thereto) reports a London Interbank Offered Rate for such Alternate Currency relating to the applicable Interest Period, and (iii) Borrower shall then have an Investment Grade Rating from both S&P and Xxxxx'x) at any time and from time to time during the Term, in an aggregate outstanding principal Dollar Equivalent Amount of all Syndicated Loans and all Money Market Loans made by the Banks not to the Borrower shall not exceed the aggregate amount of the Commitments then in effectsuch Bank's Alternate Currency Commitment. Each Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount Dollar Equivalent Amount of $10,000,000 5,000,000 (or or, with respect to an Alternate Currency Borrowing only, the Approximate Dollar Equivalent Amount thereof) of $3,000,000), or a larger an integral multiple of the Dollar Equivalent Amount of $1,000,000 (or the Approximate Equivalent Amount thereof) in excess thereof (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 unused Commitments or Swingline Lender the Equivalent Amount thereofamount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within Subject to the foregoing limitsprovisions of Section 9.19 hereof, in no event shall (i) the aggregate Dollar Equivalent Amount of Loans outstanding at any time, plus outstanding Dollar Equivalent Amount of the Letter of Credit Usage, exceed $500,000,000 (as adjusted pursuant to Section 9.19, the Borrower may borrow under this Section 2.01, repay"Facility Amount"), or (ii) the aggregate amount of Loans denominated in an Alternate Currency plus the outstanding Letter of Credit Usage for Alternate Currency Letters of Credit exceed the Alternate Currency Sublimit, with, in the case of both clauses (i) and (ii), Loans denominated in Alternate Currencies and Letter of Credit Usage for Alternate Currency Letters of Credit being marked to market monthly on the last Business Day of each month. Notwithstanding any other provision of this Agreement to the contrary, each Borrowing denominated in Dollars shall be deemed to use the Dollar Commitments to the extent permitted by Section 2.11the Dollar Sublimit would not be exceeded thereby, prepay Loans and reborrow under this Section 2.01 at any time prior to use the Termination DateAlternate Currency Commitments if such Alternate Currency Commitments are available in the event that the Dollar Commitments would be so exceeded. Subject to the preceding provisions of this Section 2.01limitations set forth herein, each Bank severally agrees to make Euro-Currency Loans in the Agreed Currenciesany amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, Agreement to lend make Loans in Dollars or (in the case of Euro-Dollar Loans only) Alternate Currencies to the Borrower Borrowers and to participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrowers pursuant to this Section 2.01 Article from time to time during the term hereof in amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Equivalent Amount of all Syndicated Loans made by such Bank to the Borrower at any one time outstanding together with such Bank’s pro rata share of Letter of Credit Usage at such time shall not exceed the Dollar Equivalent Amount of its Commitment and the aggregate principal amount of Loans by such Bank at any time outstanding in respect of a Tranche together with such Bank's Commitment then ’s pro rata share of Letter of Credit Usage in effect and (ii) the then aggregate outstanding principal Dollar Amount respect of all Syndicated Loans and all Money Market Loans made by the Banks to the Borrower such Tranche shall not exceed the aggregate amount Dollar Equivalent Amount of its Currency Commitment for such Tranche; provided, that, in the Commitments case of a Euro-Dollar Loan denominated in an Alternate Currency, (x) such Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (y) except in the case of Canadian Dollars, the Reuters screen (or any successor thereto) reports an Interbank Offered Rate for such Alternate Currency relating to the applicable Interest Period, and (z) AMB LP shall then in effecthave an Investment Grade Rating from both S&P and Mxxxx’x. Each Borrowing outstanding under this Section 2.01 2.1 of: (a) Euro-Dollar Loans denominated in Dollars shall be in an aggregate principal amount of $10,000,000 (1,000,000, or the Approximate Equivalent Amount thereof) or a larger an integral multiple of $1,000,000 500,000 in excess thereof; (b) Euro-Dollar Loans denominated in Hong Kong Dollars shall be in an aggregate principal amount of HK$8,000,000, or the Approximate Equivalent Amount an integral multiple of HK$4,000,000 in excess thereof; (c) Euro-Dollar Loans denominated in Singapore Dollars shall be in an aggregate principal amount of S$2,000,000, or an integral multiple of S$1,000,000 in excess thereof; (d) Euro-Dollar Loans denominated in Canadian Dollars shall be in an aggregate principal amount of CA$1,000,000, or an integral multiple of CA$500,000 in excess thereof; (e) Euro-Dollar Loans denominated in Euros shall be in an aggregate principal amount of € 1,000,000, or an integral multiple of €500,000 in excess thereof; and (f) Base Rate Loans shall be in an aggregate principal amount of $500,000, or an integral multiple of $100,000 in excess thereof; (except that any such Borrowing may only be in the aggregate amount available in accordance with Section 4.2(b), or in any amount required to reimburse the Fronting Bank for any drawing under any Letter of Credit); and each Borrowing in respect of the unused Commitments or Tranche specified in the Equivalent Amount thereof) and applicable Notice of Borrowing shall be made from the several Applicable Banks ratably in proportion to their respective Commitments. Within the foregoing limits, the Borrower may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow under this Section 2.01 at any time prior to the Termination DateCurrency Commitments for such Tranche. Subject to the preceding provisions of this Section 2.012.15 hereof, each Bank severally agrees in no event shall the aggregate Dollar Equivalent Amount of all Loans outstanding at any time, plus outstanding Dollar Equivalent Amount of Letter of Credit Usage, exceed $250,000,000 (as adjusted pursuant to make Euro-Currency Section 2.15, the “Facility Amount”) except as provided in Section 2.10, nor shall the aggregate Dollar Equivalent Amount of all Loans in respect of a Tranche at any time outstanding, plus the Agreed Currenciesoutstanding Dollar Equivalent Amount of Letter of Credit Usage in respect of such Tranche, exceed the Tranche Commitment applicable to such Tranche, with all Loans denominated in Alternate Currencies being marked-to-market in the manner set forth in Section 2.10. Subject to the limitations set forth herein, any amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to lend make the Tranche A Loans to Xxxx and CarrAmerica LP and participate in Letters of Credit issued by the Borrower Fronting Bank on behalf of Xxxx or CarrAmerica LP pursuant to this Section 2.01 from time to time time, but, together with the Tranche B Loans, not more frequently than four times monthly, during the Term in amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Amount amount of all Syndicated Tranche A Loans made by such Bank at any one time outstanding together with such Bank's pro rata share of Letter of Credit Usage with respect to the Borrower Xxxx and CarrAmerica LP shall not exceed the amount of its Tranche A Commitment. The aggregate amount of Tranche A Loans to be made hereunder together with the Letter of Credit Usage with respect to Xxxx and CarrAmerica LP, shall not exceed Three Hundred Seventy-Six Million Dollars ($376,000,000) (the "Tranche A Loan Amount"). Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make the Tranche B Loans to Xxxx XX and Xxxx and participate in Letters of Credit issued by the Fronting Bank on behalf of Xxxx XX pursuant to this Section from time to time, but, together with the Tranche A Loans, not more frequently than four times monthly, during the Term in amounts such that the aggregate principal amount of Tranche B Loans by such Bank at any one time outstanding, together with such Bank's Commitment then in effect and (ii) the then aggregate outstanding principal Dollar Amount pro rata share of all Syndicated Loans and all Money Market Loans made by the Banks Letter of Credit Usage with respect to the Borrower Xxxx XX, shall not exceed the amount of its Tranche B Commitment. The aggregate amount of Tranche B Loans to be made hereunder, together with the Commitments then in effectLetter of Credit Usage with respect to Xxxx XX, shall not exceed Seventy-Four Million Dollars ($74,000,000) (the "Tranche B Loan Amount"). Each Borrowing under this Section 2.01 subsection
(a) shall be in an aggregate principal amount of at least $10,000,000 (2,500,000, or the Approximate Equivalent Amount thereof) or a larger an integral multiple of $1,000,000 (or the Approximate Equivalent Amount thereof) in excess thereof (except that any such Borrowing may be in the aggregate amount of the unused Commitments or the Equivalent Amount thereofavailable in accordance with Section 3.2(c)) 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 2.01, repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow under this Section 2.01 at any time prior to the Termination Date. Subject to the preceding provisions limitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the number of this Section 2.01, each Bank severally agrees new Borrowings shall be limited to make Euro-Currency Loans in the Agreed Currenciesfour Borrowings per month and no more than ten Borrowings shall be outstanding at any time.
Appears in 1 contract
Samples: Revolving Credit Agreement (Carramerica Realty Corp)
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to lend make Loans to the Borrower and to Qualified Borrowers and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower and Qualified Borrowers pursuant to this Section 2.01 Article from time to time during the term hereof in amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Equivalent Amount of all Syndicated Committed Loans made by such Bank to at any one time outstanding plus such Bank’s Pro Rata Share of Swingline Loans outstanding together with such Bank’s Pro Rata Share of the Borrower Letter of Credit Usage at such time shall not exceed the amount Dollar Equivalent Amount of its Commitment (provided, in the case of any Loan in an Alternate Currency, (i) such Bank's Commitment then in effect Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, (ii) the then aggregate outstanding principal Dollar Amount of all Syndicated Loans and all Reuters Monitor Money Market Loans made by the Banks Rates Service (or any successor thereto) reports a London Interbank Offered Rate for such Alternate Currency relating to the applicable Interest Period, and (iii) Borrower shall not exceed the aggregate amount of the Commitments then in effecthave an Investment Grade Rating from either S&P or Xxxxx’x). Each Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount Dollar Equivalent Amount of $10,000,000 5,000,000 (or or, with respect to an Alternate Currency Borrowing only, the Approximate Dollar Equivalent Amount thereof) of $3,000,000), or a larger an integral multiple of the Dollar Equivalent Amount of $1,000,000 (or the Approximate Equivalent Amount thereof) in excess thereof (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 unused Commitments or Swingline Lender the Equivalent Amount thereofamount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within Subject to the foregoing limitsprovisions of Section 9.19 hereof, in no event shall (i) the Borrower may borrow under this Section 2.01aggregate Dollar Equivalent Amount of Loans outstanding at any time, repayplus outstanding Dollar Equivalent Amount of the Letter of Credit Usage, exceed $600,000,000 (the “Facility Amount”), or (ii) the aggregate Dollar Equivalent Amount of Loans denominated in an Alternate Currency plus the outstanding aggregate Dollar Equivalent Amount of the Letter of Credit Usage for Alternate Currency Letters of Credit exceed the Alternate Currency Sublimit, with, in the case of both clauses (i) and (ii), Loans denominated in Alternate Currencies and Letter of Credit Usage for Alternate Currency Letters of Credit being marked to market monthly on the last Business Day of each month and immediately prior to each Borrowing. Notwithstanding any other provision of this Agreement to the contrary, it is understood and agreed that if (i) the Alternate Currency Commitments shall have been drawn to such extent that the remaining Dollar Commitments shall be insufficient to permit any portion of a Borrowing denominated in Dollars to be funded based upon the Pro Rata Shares of each of the Banks, such Borrowing may still be made, with any such portion to be funded, pro rata, by any Banks that shall not have participated in the Alternate Currency Commitments, and (ii) if the Dollar Commitments shall have been drawn to such extent that the remaining Alternate Currency Commitments shall be insufficient to permit any portion of a Borrowing denominated in an Alternate Currency to be funded based upon the Pro Rata Shares of each of the Banks with an Alternate Currency Commitment, then, to the extent permitted necessary to enable such Banks with Alternate Currency Commitments to fund such portion, such Borrowing shall also include a Borrowing in Dollars, pro rata, from the Banks do not have Alternate Currency Commitments, which Borrowing in Dollars will be used to repay, pro rata, Loans in Dollars of such Banks with Alternate Currency Commitments as designated by Section 2.11, prepay Loans and reborrow under this Section 2.01 at any time prior to the Termination DateBorrower in its notice of Borrowing. Subject to the preceding provisions of this Section 2.01limitations set forth herein, each Bank severally agrees to make Euro-Currency Loans in the Agreed Currenciesany amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, (a) to lend make Loans to the Borrower and to the Qualified Borrowers pursuant to this Section 2.01 Article from time to time during the term hereof in amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Amount amount of all Syndicated Committed Loans made by such Bank to at any one time outstanding plus such Bank’s Pro Rata Share of Swingline Loans outstanding at such time together with such Bank’s pro rata share of the Borrower Letter of Credit Usage at such time shall not exceed the amount Dollar Equivalent Amount of its Commitment, and (b) in furtherance and clarification of the foregoing, as to Banks with an Alternate Currency Commitment only, to participate in Alternate Currency Letters of Credit issued by the Fronting Bank on behalf of Borrower or the Qualified Borrowers pursuant to this Article and to make Euro-Dollar Loans to Borrower and to the Qualifed Borrowers denominated in any Alternate Currency (provided (i) such Bank's Commitment then in effect Alternate Currency is readily available to such Banks and is freely transferable and convertible to Dollars, and (ii) the then Reuters Monitor Money Rates Service (or any successor thereto) reports a London Interbank Offered Rate for such Alternate Currency relating to the applicable Interest Period, in an aggregate outstanding principal Dollar Equivalent Amount of all Syndicated Loans and all Money Market Loans made by the Banks not to the Borrower shall not exceed the aggregate amount of the Commitments then in effectsuch Bank’s Alternate Currency Commitment. Each Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount Dollar Equivalent Amount of $10,000,000 (5,000,000, or an integral multiple of the Approximate Dollar Equivalent Amount thereof) or a larger multiple of $1,000,000 (or the Approximate Equivalent Amount thereof) 100,000 in excess thereof (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 unused Commitments or Swingline Lender the Equivalent Amount thereofamount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within Subject to the foregoing limitsprovisions of Section 2.1(b) hereof, in no event shall (i) the aggregate Dollar Equivalent Amount of Loans outstanding at any time, plus outstanding Dollar Equivalent Amount of the Letter of Credit Usage, exceed $1,250,000,000 (as adjusted pursuant to Section 2.1(b), the Borrower may borrow under this Section 2.01, repay“Facility Amount”), or (ii) the aggregate amount of Loans denominated in an Alternate Currency plus the outstanding Letter of Credit Usage for Alternate Currency Letters of Credit exceed the Alternate Currency Sublimit, with, in the case of both clauses (i) and (ii), Loans denominated in Alternate Currencies and Letter of Credit Usage for Alternate Currency Letters of Credit being marked to market monthly on the last Business Day of each month. Notwithstanding any other provision of this Agreement to the contrary, each Borrowing denominated in Dollars shall be deemed to use the Dollar Commitments to the extent permitted by Section 2.11the Dollar Sublimit would not be exceeded thereby, prepay Loans and reborrow under this Section 2.01 at any time prior to use the Termination DateAlternate Currency Commitments if such Alternate Currency Commitments are available in the event that the Dollar Commitments would be so exceeded. Subject to the preceding provisions of this Section 2.01limitations set forth herein, each Bank severally agrees to make Euro-Currency Loans in the Agreed Currenciesany amounts repaid may be reborrowed.
Appears in 1 contract
Samples: Revolving Credit Agreement (Eop Operating LTD Partnership)
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, (a) to lend make Committed Loans to the Borrower and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower pursuant to this Section 2.01 Article from time to time amounts during the term hereof in Dollar Equivalent Amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Equivalent Amount of all Syndicated Committed Loans made by such Bank to at any one time outstanding plus such Bank’s Pro Rata Share of Swingline Loans outstanding together with such Bank’s Pro Rata Share of the Borrower Letter of Credit Usage at such time shall not exceed the amount Dollar Equivalent Amount of its Commitment, and (b) in furtherance and clarification of the foregoing, to participate in Alternate Currency Letters of Credit issued by the Fronting Bank on behalf of Borrower pursuant to this Article and to make Euro-Currency Loans to Borrower denominated in any Alternate Currency at any time and from time to time during the Term, in an aggregate principal Dollar Equivalent Amount not to exceed such Bank's Commitment then in effect and (ii) the then aggregate outstanding principal Dollar Amount of all Syndicated Loans and all Money Market Loans made by the Banks to the Borrower shall not exceed the aggregate amount of the Commitments then in effect’s Commitment. Each Euro-Currency Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount Dollar Equivalent Amount of approximately $10,000,000 5,000,000, or an integral multiple of a Dollar Equivalent Amount of approximately $1,000,000 in excess thereof, and each Base Rate Borrowing (or Borrowing bearing interest at the Approximate Offered Rate) shall be in an aggregate principal Dollar Equivalent Amount thereof) of approximately $1,000,000, or a larger an integral multiple of a Dollar Equivalent Amount of approximately $1,000,000 (or the Approximate Equivalent Amount thereof) in excess thereof (except that any such Borrowing may be in the aggregate amount of the unused Commitments available in accordance with Section 3.2(b), or the in any Dollar Equivalent Amount thereofrequired 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 Banks ratably in proportion to their respective Commitments. Within In no event shall the foregoing limitssum of the aggregate Dollar Equivalent Amount of Loans outstanding at any time, plus the Dollar Equivalent Amount of the Letter of Credit Usage, exceed $1,200,000,000 (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 Borrower may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow under this Section 2.01 at any time prior to the Termination Date“Facility Amount”). Subject to the preceding provisions of this Section 2.01limitations set forth herein, each Bank severally agrees to make Euro-Currency Loans in the Agreed Currenciesany amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each (a) Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to lend make Committed Loans to the Borrower and participate in Letters of Credit issued by the Fronting Bank on behalf of the Borrower pursuant to this Section 2.01 Article from time to time during the term hereof in amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Amount amount of all Syndicated Committed Loans made by such Bank to at any one time outstanding plus such Bank's Pro Rata Share of Swingline Loans outstanding together with such Bank's pro rata share of the Borrower Letter of Credit Usage at such time shall not exceed the amount of such Bank's Commitment then in effect and (ii) the then aggregate outstanding principal Dollar Amount of all Syndicated Loans and all Money Market Loans made by the Banks to the Borrower shall not exceed the aggregate amount of the Commitments then in effectits Commitment. Each Euro-Dollar Borrowing outstanding under this Section 2.01 2.1 shall be in an aggregate principal amount of $10,000,000 (5,000,000, or the Approximate Equivalent Amount thereof) or a larger an integral multiple of $1,000,000 in excess thereof, and each Base Rate Borrowing (or Borrowing bearing interest at the Approximate Equivalent Amount thereofOffered Rate) shall be in an aggregate principal amount of $1,000,000, or an integral multiple of $1,000,000 in excess thereof (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 unused Commitments or Swingline Lender the Equivalent Amount thereofamount of any Swingline Loan) and, other than with respect to Money Market Loans and Swingline Loans, shall be made from the several Banks ratably in proportion to their respective Commitments. Within In no event shall the foregoing limitsaggregate 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 Borrower may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow under this Section 2.01 at any time prior to the Termination Date"Facility Amount"). Subject to the preceding provisions of this Section 2.01limitations set forth herein, each Bank severally agrees to make Euro-Currency Loans in the Agreed Currenciesany amounts repaid may be reborrowed.
Appears in 1 contract
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to lend make the Tranche A Loans to Xxxx and CarrAmerica LP and participate in Letters of Credit issued by the Borrower Fronting Bank on behalf of Xxxx or CarrAmerica LP pursuant to this Section 2.01 from time to time time, but, together with the Tranche B Loans, not more frequently than four times monthly, during the Term in amounts such that, upon giving effect to each such Borrowing: (i) that the then aggregate outstanding principal Dollar Amount amount of all Syndicated Tranche A Loans made by such Bank at any one time outstanding together with such Bank's pro rata share of Letter of Credit Usage with respect to the Borrower Xxxx and CarrAmerica LP shall not exceed the amount of its Tranche A Commitment. The aggregate amount of Tranche A Loans to be made hereunder together with the Letter of Credit Usage with respect to Xxxx and CarrAmerica LP, shall not exceed Three Hundred Seventy-Six Million Dollars ($376,000,000) (the "Tranche A Loan Amount"). Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to make the Tranche B Loans to Xxxx XX and Xxxx and participate in Letters of Credit issued by the Fronting Bank on behalf of Xxxx XX pursuant to this Section from time to time, but, together with the Tranche A Loans, not more frequently than four times monthly, during the Term in amounts such that the aggregate principal amount of Tranche B Loans by such Bank at any one time outstanding, together with such Bank's Commitment then in effect and (ii) the then aggregate outstanding principal Dollar Amount pro rata share of all Syndicated Loans and all Money Market Loans made by the Banks Letter of Credit Usage with respect to the Borrower Xxxx XX, shall not exceed the amount of its Tranche B Commitment. The aggregate amount of Tranche B Loans to be made hereunder, together with the Commitments then in effectLetter of Credit Usage with respect to Xxxx XX, shall not exceed Seventy-Four Million Dollars ($74,000,000) (the "Tranche B Loan Amount"). Each Borrowing under this Section 2.01 subsection (a) shall be in an aggregate principal amount of at least $10,000,000 (2,500,000, or the Approximate Equivalent Amount thereof) or a larger an integral multiple of $1,000,000 (or the Approximate Equivalent Amount thereof) in excess thereof (except that any such Borrowing may be in the aggregate amount of the unused Commitments or the Equivalent Amount thereofavailable in accordance with Section 3.2(c)) 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 2.01, repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow under this Section 2.01 at any time prior to the Termination Date. Subject to the preceding provisions limitations set forth herein, any amounts repaid may be reborrowed. Notwithstanding anything to the contrary, the number of this Section 2.01, each Bank severally agrees new Borrowings shall be limited to make Euro-Currency Loans in the Agreed Currenciesfour Borrowings per month and no more than ten Borrowings shall be outstanding at any time.
Appears in 1 contract
Samples: Revolving Credit Agreement (Carramerica Realty Corp)
Commitments to Lend. From the date hereof to but not ------------------- including the Termination Date, each Each Bank severally agrees, on the terms and conditions set forth in this Agreement, to lend make Loans in Dollars or Alternate Currency, as applicable, to the Borrower and the Initial Qualified Borrowers, as applicable, pursuant to this Section 2.01 from time to time amounts such that, upon giving effect to each such Borrowing: (i) Article on the then aggregate outstanding principal Dollar Amount of all Syndicated Loans made by such Bank to the Borrower shall not exceed the amount of such Bank's Commitment then in effect and (ii) the then aggregate outstanding principal Dollar Amount of all Syndicated Loans and all Money Market Loans made by the Banks to the Borrower shall not exceed the aggregate amount of the Commitments then in effect. Each Borrowing under this Section 2.01 shall be Effective Date in an aggregate principal amount of $10,000,000 (or the Approximate Equivalent Amount thereof) or a larger multiple of $1,000,000 (or the Approximate Equivalent Amount thereof) equal to its Commitment (except that any such Borrowing it is understood and agreed that Loans in Alternate Currencies may be in funded on the aggregate amount of following Business Day). The initial Borrowing shall be made on the unused Commitments or the Equivalent Amount thereof) Effective Date and shall be made from the several Banks ratably in proportion to their respective Commitments. Within , except that the foregoing limits, Alternate Currency Loans shall be funded by each Bank as indicated on the Borrower may borrow under this Section 2.01, repay, or to the extent permitted by Section 2.11, prepay Loans and reborrow under this Section 2.01 at any time prior to the Termination Datesignature pages hereto. Subject to the preceding provisions of this Section 2.019.19 hereof, in no event shall the aggregate amount of Loans in Dollars outstanding at any time, exceed $345,000,000 (as adjusted pursuant to Section 9.19, the “Facility Amount”) less the Dollar Equivalent Amount of any Loans denominated in Alternate Currencies as of the date that the amount in Euros and/or Yen of such Loans was determined by the Administrative Agent. For the avoidance of doubt, Loans denominated in Alternate Currencies shall not be marked to market and accordingly, the Dollar Equivalent Amount of such Loans from time to time may cause the Dollar Equivalent Amount of all Loans to exceed the Facility Amount.. In the event that the Facility Amount shall be increased pursuant to Section 9.19, each Bank severally agrees to make Euro-Currency Loans Borrowing thereafter shall be in an aggregate principal amount of $5,000,000, or an integral multiple of $1,000,000 in excess thereof (except that any such Borrowing may be in the Agreed Currenciesaggregate amount of the Commitments then available to be borrowed). Any amounts repaid may not be reborrowed.
Appears in 1 contract
Samples: Credit Agreement (Amb Property Lp)