Discretionary Facility. It is acknowledged and agreed by each Borrower that each Lender has no obligation to make any Loan hereunder unless it has issued Lending Instructions, and that the decision whether or not to issue Lending Instructions under this Master Agreement is within the sole and exclusive discretion of each Lender. It is acknowledged and agreed by each Lender that no Borrower is obligated to borrow money hereunder unless it has issued Borrowing Instructions.
Discretionary Facility. (a) Discretionary Facility and Discretionary Loan Subfacilities. So long as no Default or Potential Default under the Loan Documents then exists or arises as a result of any Discretionary Loan (or commitment therefor or Borrowing thereunder), then subject to the terms and conditions of this Section 2.4, on and after the Closing Date (but prior to June 30, 2004, for Discretionary Pro Rata Loans), the Borrowers may request from time to time, that the Lenders commit to make one or more Discretionary Loans (in an amount of not less than $50,000,000 or such lesser amount as may be available under the Maximum Discretionary Commitment) under one or more of the following Discretionary Loan Subfacilities:
(i) Discretionary Revolver Subfacility pursuant to which one or more Discretionary Revolver Loans (and Borrowings thereunder) may be made by one or more Discretionary Lenders committing to such Discretionary Revolver Loan, so long as (A) one or more Discretionary Lenders commit to each such Discretionary Revolver Loan in accordance with the procedures set forth in Sections 2.4(c) and 2.4(d) hereof; (B) on the date commitments for each such Discretionary Revolver Loan are effective and on each Borrowing Date thereunder, (x) the sum of the aggregate Committed Sums of all Discretionary Lenders for all other Discretionary Revolver Loans and the aggregate Discretionary Term Loan Principal Debt (or unfunded Committed Sums for any Discretionary Term Loan) under all Discretionary Term Loans does not exceed (y) the Maximum Discretionary Commitment; (C) each Discretionary Revolver Loan shall terminate on the Termination Date for the Revolver Facility; (D) the interest rates for Borrowings under each Discretionary Revolver Loan shall be Eurodollar Rate Borrowings or Base Rate Borrowings with an Applicable Margin to be specified in the Supplemental Credit Documents for such Discretionary Revolver Loan; and (E) Borrowings under each Discretionary Revolver Loan shall be made, prepaid, and repaid on identical terms as Borrowings under the Revolver Facility.
(ii) Discretionary Term Loan A Subfacility pursuant to which one or more Discretionary Term Loans (and Borrowings thereunder) may be made by one or more Discretionary Lenders committing to such Discretionary Term Loan, so long as (A) one or more Discretionary Lenders commit to each such Discretionary Term Loan in accordance with the procedures set forth in Sections 2.4(c) and 2.4(d) hereof; (B) on the date commitments for eac...
Discretionary Facility. EACH BORROWER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT PROVIDES FOR A CREDIT FACILITY THAT IS COMPLETELY DISCRETIONARY ON THE PART OF THE ADMINISTRATIVE AGENT AND THE LENDERS AND THAT THE ADMINISTRATIVE AGENT OR THE LENDERS HAVE ABSOLUTELY NO DUTY OR OBLIGATION TO ADVANCE ANY LOAN OR TO ISSUE ANY LETTER OF CREDIT. EACH BORROWER UNDERSTANDS THAT WITHOUT REASON, CAUSE OR PRIOR NOTICE, THE ADMINISTRATIVE AGENT AND THE LENDERS MAY AND AT THE REQUEST OF THE REQUIRED LENDERS SHALL CEASE ADVANCING LOANS AND ISSUING LETTERS OF CREDIT AND MAKE DEMAND FOR PAYMENT OF ALL OBLIGATIONS (INCLUDING CASH COLLATERALIZATION OF LETTERS OF CREDIT IN ACCORDANCE HEREWITH) OF EACH BORROWER TO THE ADMINISTRATIVE AGENT OR THE LENDERS AT ANY TIME. EACH BORROWER REPRESENTS AND WARRANTS TO THE ADMINISTRATIVE AGENT AND THE LENDERS THAT SUCH BORROWER IS AWARE OF THE RISKS ASSOCIATED WITH CONDUCTING BUSINESS UTILIZING AN UNCOMMITTED FACILITY.
Discretionary Facility. THE BORROWER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT PROVIDES FOR A CREDIT FACILITY THAT IS COMPLETELY DISCRETIONARY ON THE PART OF THE LENDERS AND THAT THE LENDERS HAVE ABSOLUTELY NO DUTY OR OBLIGATION TO ADVANCE ANY LOANS OR TO ISSUE ANY LETTER OF CREDIT. THE BORROWER UNDERSTANDS THAT WITHOUT REASON, CAUSE OR PRIOR NOTICE, THE LENDERS MAY CEASE ADVANCING LOANS AND ISSUING LETTERS OF CREDIT AND MAY MAKE DEMAND FOR PAYMENT (AND CASH COLLATERALIZATION WITH RESPECT TO OUTSTANDING LETTERS OF CREDIT) OF ALL OBLIGATIONS OF THE BORROWER TO THE LENDERS AT ANY TIME. THE BORROWER REPRESENTS AND WARRANTS TO THE LENDERS THAT THE BORROWER AND THE OTHER LOAN PARTIES AWARE OF THE RISKS ASSOCIATED WITH CONDUCTING BUSINESS UTILIZING AN UNCOMMITTED FACILITY.
Discretionary Facility. The provisions of Section 1.1, 1.2 and 1.3 of the Eighth Amendment to the Credit Agreement continue to apply.
Discretionary Facility. Subject to the terms and conditions set forth herein, Lender shall make Loans to Borrower from time to time during the Availability Period in an aggregate principal amount that will not result (after giving effect to any application of proceeds of such Borrowing pursuant to Section 2.10) in Lender’s Revolving Credit Exposure exceeding the Available Amount. Within the foregoing limits and subject to the terms and conditions set forth herein, Borrower may borrow, prepay and reborrow Loans.
Discretionary Facility. The Bank may modify, restrict, suspend or terminate the Credit at any time for any reason and without affecting Borrower’s then existing obligations under this Note. Any Request for a Loan hereunder shall be limited in amount, such that the sum of (i) the principal amount of such Request; (ii) the Outstanding Principal Amount under this Note; and (iii) the aggregate face amounts of (or, if greater, Borrower’s aggregate reimbursement obligations to the Bank (or any of its affiliates) in connection with) any letters of credit issued by the Bank (or any of its affiliates) at the request (or for the benefit) of Borrower, pursuant to this Credit; does not exceed the Maximum Principal Amount under this Note. Notwithstanding the above, the Bank shall have the sole and absolute discretion whether to make any Loan (or any portion of any Loan) requested by Borrower, regardless of any general availability under the Maximum Principal Amount.
Discretionary Facility. It is acknowledged and agreed by each Borrower that AMR has no obligation to make any Loan hereunder, and that the decision whether or not to make any Loan requested by any Borrower is within the sole and exclusive discretion of AMR. AMR may terminate the credit facilities provided for herein either in whole or in part with respect to one or more Borrowers at any time by written notice to the affected Borrower(s).
Discretionary Facility. THE BORROWER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT PROVIDES FOR A CREDIT FACILITY THAT IS COMPLETELY DISCRETIONARY ON THE PART OF THE LENDERS AND THAT THE LENDERS HAVE ABSOLUTELY NO DUTY OR OBLIGATION TO ADVANCE ANY LOANS. THE BORROWER UNDERSTANDS THAT WITHOUT REASON, CAUSE OR PRIOR NOTICE, THE LENDERS MAY CEASE ADVANCING LOANS AND THE REQUIRED LENDERS MAY MAKE DEMAND FOR PAYMENT OF ALL OBLIGATIONS OF THE BORROWER TO THE LENDERS AT ANY TIME. THE BORROWER REPRESENTS AND WARRANTS TO THE LENDERS THAT THE BORROWER IS AWARE OF THE RISKS ASSOCIATED WITH CONDUCTING BUSINESS UTILIZING AN UNCOMMITTED FACILITY.
Discretionary Facility. THE BORROWER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT PROVIDES FOR AN UNCOMMITTED CREDIT FACILITY THAT IS COMPLETELY DISCRETIONARY ON THE PART OF THE ADMINISTRATIVE AGENT AND THE LENDERS AND THAT THE ADMINISTRATIVE AGENT OR THE LENDERS HAVE ABSOLUTELY NO DUTY OR OBLIGATION TO MAKE ANY REVOLVING CREDIT LOAN OR TO ISSUE ANY LETTER OF CREDIT. THE BORROWER UNDERSTANDS THAT PURSUANT TO THE TERMS OF THIS AGREEMENT, WITHOUT REASON, CAUSE OR PRIOR NOTICE, THE ADMINISTRATIVE AGENT AND EACH OF THE LENDERS MAY CEASE MAKING REVOLVING CREDIT LOANS AND ISSUING LETTERS OF CREDIT. THE BORROWER REPRESENTS AND WARRANTS TO THE ADMINISTRATIVE AGENT AND THE LENDERS THAT THE BORROWER IS AWARE OF THE RISKS ASSOCIATED WITH CONDUCTING BUSINESS UTILIZING AN UNCOMMITTED FACILITY.
