Commitments to Make Loans. Subject to the terms and conditions of this Credit Agreement, each Lender severally agrees to make loans ("Revolving Credit Loans") to the Borrower from time to time from the Effective Date through the Availability Termination Date as requested by the Borrower in accordance with the terms of Section 2.2 hereof; provided, that (a) the aggregate principal amount of all outstanding Revolving Credit Loans (after giving effect to any amount requested) plus all outstanding Swing Line Loans and L/C Obligations shall not exceed the Aggregate Commitment; and (b) the sum of (i) the principal amount of outstanding Revolving Credit Loans (after giving effect to any amount requested) from any Lender to the Borrower plus (ii) the product of (x) such Lender's Commitment Percentage multiplied by (y) the aggregate outstanding L/C Obligations and Swing Line Loans, shall not at any time exceed such Lender's Commitment as set forth on Schedule 1 hereto. Each Revolving Credit Loan by a Lender shall be in a principal amount equal to such Lender's Commitment Percentage of the aggregate principal amount of Revolving Credit Loan requested on such occasion. Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow Revolving Credit Loans hereunder until the Availability Termination Date
Commitments to Make Loans. Each Bank severally agrees, on the terms and conditions set forth herein, to make Loans to the Borrower from time to time before the Termination Date; provided that, immediately after each such Loan is made, the aggregate outstanding principal amount of Loans by such Bank shall not exceed the amount of its Commitment, provided further that the aggregate principal amount of all Loans at any one time outstanding shall not exceed the aggregate amount of the Commitments of all of the Banks at such time. Each Euro-Dollar Borrowing under this Section shall be in an aggregate principal amount of $5,000,000 or any larger multiple of $1,000,000 and each Base Rate Borrowing under this Section shall be in an aggregate principal amount of $1,000,000 or any larger multiple of $1,000,000 (except that any such Borrowing may be in the aggregate amount of the Unused Commitments) and each Borrowing under this Section 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, repay or, to the extent permitted by Section 2.09, prepay Loans and reborrow under this Section at any time before the Termination Date.
Commitments to Make Loans. Each Bank severally agrees, on the terms and conditions set forth herein, to make Loans to the Borrower from time to time before the Final Maturity Date; provided that, immediately after each such Loan is made, the aggregate outstanding principal amount of Loans by such Bank shall not exceed the amount of its Commitment, provided further that the aggregate principal amount of all Loans, at any one time outstanding shall not exceed the aggregate amount of the Commitments of all of the Banks at such time. Each Borrowing under this Section shall be in an aggregate principal amount of $5,000,000 or any larger multiple of $1,000,000 (except that any such Borrowing may be in the aggregate amount of the Unused Commitments, if any) 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, repay or, to the extent permitted by Section 2.10, prepay Loans under this Section at any time before the Final Maturity Date; provided, however, (i) except for the initial Borrowing and the Final Drawdown, the proceeds of any Borrowing shall be used exclusively for the purpose of repaying Loans maturing on the date of such Borrowing and for no other purpose; (ii) the ability to reborrow may be limited by the provisions of Section 2.08(c) hereof; (iii) each Borrowing shall be made from the several Banks ratably in proportion to their respective Commitments; and (iv) the Final Drawdown shall be made, if at all, on or before December 2, 1996.
Commitments to Make Loans. So long as no Event of Default has occurred and is continuing, subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Loan”) to the Borrower from time to time, on any Business Day during the Revolving Credit Period; provided, however, that after giving effect to all amounts requested, the Aggregate Note Principal Balance shall not exceed the lesser of (i) Aggregate Commitments and (ii) the Asset Base, calculated (in the case of clause (ii)) after giving effect to the addition of the Eligible Containers, if any, to be acquired with the proceeds of such Loan. Loans shall be LIBOR Rate Loans or, under the circumstances set forth in Section 5.4 or Section 5.5 hereof, a Cost of Funds Loan.
Commitments to Make Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “Loan”) to the Borrower from time to time, on any Business Day during the Revolving Credit Period; provided, however, that (x) the principal amount of each Loan shall not exceed an amount equal to the product of (1) the Advance Rate then in effect and (2) the sum of the Net Book Values of the Owner Containers to be acquired with the proceeds of such Loan, and (y) after giving effect to the requested Loan, the Aggregate Loan Principal Balance shall not exceed the lesser of (i) the Aggregate Commitments and (ii) the Asset Base, calculated (in the case of clause (ii)) after giving effect to the origination or acquisition of the Owner Containers to be originated or acquired with the proceeds of such Loan. Loans shall be LIBOR Rate Loans or, under the circumstances set forth in Section 5.4 or 5.5, a Base Rate Loan.
Commitments to Make Loans. Subject to the terms and conditions hereof, each Lender that has a Commitment severally agrees to make a term loan or term loans to Borrower (each a “Loan” and collectively, the “Loans”), which Loans (i) shall be incurred pursuant to a single drawing on the Closing Date and (ii) shall be denominated in U.S. dollars. Once repaid, Loans incurred hereunder may not be re-borrowed.
Commitments to Make Loans. (a) Each Lender, severally but not jointly, agrees to make term loans to the Borrowers (collectively the “Loans” and each individually a “Loan”) from time to time, in the amount that the Borrowers may request (as set forth in Section 2.3) up to, but not exceeding, after giving effect to such Loan and all other outstanding Loans of such Lender, the unused portion of such Xxxxxx’s Commitment; provided, that the sum of the Loans advanced by the Lenders under this Section 2.1 shall not exceed the Aggregate Commitment Amount.
Commitments to Make Loans. (1) Each Lender, severally but not jointly, agrees to make revolving loans to each Borrower, which may be repaid and reborrowed from time to time on any Business Day, during the period from the First Amendment Effective Date to the Termination Date, in such amounts as a Borrower may from time to time request.
(2) All Loans shall be made by the Lenders on a pro rata basis, calculated for each Lender based on its Percentage.
Commitments to Make Loans. (a) The Bank hereby agrees, on the terms and conditions set forth herein, to make the Tranche A Loan to the Borrower on the Closing Date in the amount of the Tranche A Commitment. Upon funding the Tranche A Loan, the Tranche A Commitment shall terminate and the Bank shall have no obligation to make further advances thereunder.
(b) The Bank hereby agrees, on the terms and conditions set forth herein, to make the Tranche B Loan to the Borrower on the Closing Date or within 1 year thereafter upon receipt of a Notice of Borrowing from the Borrower, in an amount equal to the lesser of (i) the Tranche B Commitment, or (ii) so much of the Tranche B Commitment as is required to repay the indebtedness of the Borrower to Xxxxx Enterprises, Inc. in its entirety (the proceeds of which will, in turn, be used by Xxxxx Enterprises, Inc. to repay any and all indebtedness, liabilities and obligations of Xxxxx Enterprises, Inc. to INTERREDIC). If the Borrower fails to deliver a Notice of Borrowing requesting that the Tranche B Loan be made on the Closing Date or within 1 year after the Closing Date, the Tranche B Commitment shall terminate and the Bank shall have no obligation to make an advance thereunder. Upon funding of the Tranche B Loan (in an amount equal to or less than the Tranche B Commitment), the Tranche B Commitment shall terminate and the Bank shall have no obligation to make further advances thereunder.
Commitments to Make Loans. Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, each Bank severally agrees to make loans (the "Loans") to the Borrower at any time or from time to time on or after the date hereof to, but not including, the Expiration Date in an aggregate principal amount not to exceed at any one time such Bank's Revolving Credit Commitment minus the sum of (i) such Bank's Net Exposure under outstanding Letters of Credit issued pursuant to Section 2.10, (ii) such Bank's Net Exposure under Escrow Agreements entered into pursuant to Section 2.11 and (iii) such Bank's Euro-Rate Term Loans outstanding. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.01 if Borrower elects one of the revolving credit Interest Rate Options pursuant to Section 3.01(a).
