Common use of Computations of Outstandings Clause in Contracts

Computations of Outstandings. Whenever reference is made in this Agreement to the principal amount outstanding on any date under this Agreement, such reference shall refer to the aggregate principal amount of all Loans outstanding on such date under this Agreement after giving effect to all Extensions of Credit to be made on such date and the application of the proceeds thereof. At no time shall the principal amount outstanding under this Agreement exceed the aggregate amount of the Commitments hereunder. References to the unused portion of the Commitments under this Agreement shall refer to the excess, if any, of the Commitments hereunder over the principal amount outstanding hereunder; and references to the unused portion of any Lender's Commitment under this Agreement shall refer to such Lender's Percentage of the unused Commitments hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Panhandle Eastern Pipe Line Co), Credit Agreement (Panhandle Eastern Pipe Line Co), Credit Agreement (Consumers Energy Co)

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Computations of Outstandings. Whenever reference is made in this Agreement to the principal amount outstanding on any date under this Agreement, such reference shall refer to the sum of (i) the aggregate principal amount of all Loans outstanding on such date under this Agreement plus (ii) the aggregate LC Outstandings of all Letters of Credit outstanding on such date, in each case after giving effect to all Extensions of Credit to be made on such date and the application of the proceeds thereof. At no time shall the principal amount outstanding under this Agreement exceed the aggregate amount of the Commitments hereunder. References to the unused portion of the Commitments under this Agreement shall refer to the excess, if any, of the Commitments hereunder over the principal amount outstanding hereunder; and references to the unused portion of any Lender's Commitment under this Agreement shall refer to such Lender's Percentage of the unused Commitments hereunder.

Appears in 3 contracts

Samples: Credit Agreement (CMS Energy Corp), Credit Agreement (Consumers Energy Co), Credit Agreement (Consumers Energy Co)

Computations of Outstandings. Whenever reference is made in this Agreement to the principal amount outstanding on any date under this Agreement, such reference shall refer to the aggregate principal amount of all Loans outstanding on such date under this Agreement after giving effect to all Extensions of Credit to be made on such date and the application of the proceeds thereof. At no time shall the outstanding principal amount outstanding under this Agreement of the Loans exceed the aggregate amount of the Commitments hereunder. References to the unused portion of the Commitments under this Agreement shall refer to the excess, if any, of the Commitments hereunder over the outstanding principal amount outstanding hereunderof the Loans; and references to the unused portion of any Lender's Commitment under this Agreement shall refer to such Lender's Percentage of the unused Commitments hereunderCommitments.

Appears in 1 contract

Samples: Credit Agreement (CMS Energy Corp)

Computations of Outstandings. Whenever reference is made in this Agreement to the principal amount outstanding on any date under this Agreement, such reference shall refer to the sum of (i) the aggregate principal amount of all Loans outstanding on such date under this Agreement plus (ii) the aggregate LC Outstandings of all Letters of Credit outstanding on such date, in each case after giving effect to all Extensions of Credit to be made on such date and the application of the proceeds thereof. At no time shall the principal amount outstanding under this Agreement exceed the aggregate amount of the Commitments hereunderCommitments, and at no time shall the portion of the principal amount outstanding under this Agreement attributed to any Borrower exceed such Borrower's Availability Sublimit. References to the unused portion of the Commitments under this Agreement shall refer to the excess, if any, of the Commitments hereunder over the principal amount outstanding hereunder; and references to the unused portion of any Lender's Commitment under this Agreement shall refer to such Lender's Percentage of the unused Commitments hereunderCommitments.

Appears in 1 contract

Samples: Credit Agreement (Tucson Electric Power Co)

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Computations of Outstandings. Whenever reference is made in this Agreement to the principal amount outstanding on any date under this Agreement, such reference shall refer to the aggregate principal amount of all Loans outstanding on such date under this Agreement after giving effect to all Extensions of Credit to be made on such date and the application of the proceeds thereof. At no time shall the outstanding principal amount outstanding under this Agreement of the Facility A Revolving Loans exceed the aggregate amount of the Commitments Facility A Revolving Commitment hereunder. References to the unused portion of the Facility A Revolving Commitments under this Agreement shall refer to the excess, if any, of the Facility A Revolving Commitments hereunder over the outstanding principal amount outstanding hereunderof the Facility A Revolving Loans; and references to the unused portion of any Lender's Facility A Revolving Commitment under this Agreement shall refer to such Lender's Percentage of the unused Commitments hereunderFacility A Revolving Commitments.

Appears in 1 contract

Samples: Credit Agreement (Panhandle Eastern Pipe Line Co)

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