Common use of Description of Facility Clause in Contracts

Description of Facility. The Lenders hereby establish in ----------------------- favor of the Borrower a revolving credit facility pursuant to which, and upon the terms and subject to the conditions herein set out: (i) each Lender severally agrees to make Ratable Loans to the Borrower in accordance with Section 2.2 in amounts not to exceed in the aggregate at any one time outstanding the amount of its Commitment less the amount of such Lender's pro rata (relative to its Commitment amount) share of the outstanding principal amount of all Competitive Bid Advances (regardless of which Lender or Lenders made such Competitive Bid Advances) exclusive of Competitive Bid Advances being repaid substantially contemporaneously with the making of any such Ratable Loans; and (ii) each Lender may, in its sole discretion, make bids to make Competitive Bid Loans to the Borrower, and make such Loans, in accordance with Section 2.3.

Description of Facility. The Subject to Section 2.1.4, the Lenders hereby establish in ----------------------- favor of the Borrower Borrowers a revolving credit facility pursuant to which, and upon the terms and subject to the conditions herein set out: (ia) each Lender severally agrees to make Ratable Loans to the Borrower Borrowers in accordance with Section 2.2 in amounts not to exceed in the aggregate at any one time outstanding the amount of its Commitment less the amount of such Lender's pro pro-rata (relative to its Commitment amount) share of the sum of (i) the outstanding principal amount of all Competitive Bid Advances (regardless of which Lender or Lenders made such Competitive Bid Advances) exclusive of Competitive Bid Advances being repaid substantially contemporaneously with the making of any such Ratable LoansLoans plus (ii) the outstanding amount of Facility Letter of Credit Obligations at such time; and (iib) each Lender may, in its sole discretion, make bids to make Competitive Bid Loans to the either Borrower, and make such Loans, in accordance with Section 2.3.

Description of Facility. The Lenders hereby ----------------------- establish in ----------------------- favor of the Borrower a revolving credit facility pursuant to which, and upon the terms and subject to the conditions herein set out: : (ia) each Lender severally agrees to make Ratable Loans to the Borrower in accordance with Section 2.2 in ----------- amounts not to exceed in the aggregate at any one time outstanding the amount of its such Lender's Commitment less the amount of such Lender's pro pro-rata (relative to its Commitment amount) share of the outstanding principal amount of all Competitive Bid Advances (regardless of which Lender or Lenders made such Competitive Bid Advances) exclusive of Competitive Bid Advances being repaid substantially contemporaneously with the making of any such Ratable LoansLoans (but not later than the close of business on the same day); and and (iib) each Lender may, in its sole discretion, make bids to make Competitive Bid Loans to the Borrower, and make such Loans, in accordance with Section 2.3.. -----------