European Swingline Commitment. Subject to the terms and conditions set forth herein, the European Swingline Lender agrees to make European Swingline Loans to the European Administrative Borrower, the U.K. Borrower, and the German Borrower, from time to time during the Revolving Availability Period, in an aggregate principal amount at any time outstanding that will not (subject to the provisions of Section 2.01(e)) result in (i) the aggregate principal amount of outstanding European Swingline Loans exceeding the European Swingline Commitment, (ii)(A) the Total Adjusted Revolving Exposure (German) exceeding the Total Adjusted Borrowing Base (German), (B) the Total Adjusted Revolving Exposure (Swiss) exceeding the Total Adjusted Borrowing Base (Swiss) or (B) the Total Adjusted Revolving Exposure exceeding the Total Adjusted Borrowing Base, or (iii) the Total Revolving Exposure exceeding the lesser of (A) the Total Revolving Commitment and (B) the Total Borrowing Base then in effect; provided that the European Swingline Lender shall not be required to make a European Swingline Loan (i) to refinance an outstanding European Swingline Loan, or if another European Swingline Loan is then outstanding or (ii) if a European Swingline Loan has been outstanding within three (3) Business Days prior to the date of such requested European Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the European Administrative Borrower, the U.K. Borrower, and the German Borrower may borrow, repay and reborrow European Swingline Loans.
Appears in 2 contracts
Samples: Credit Agreement (Novelis Inc.), Credit Agreement (Novelis Inc.)
European Swingline Commitment. Subject to the terms and conditions set forth hereinof this Agreement, the European Swingline Lender agrees to make European Swingline Loans to the European Administrative BorrowerForeign Borrowers (but with each of the Borrowers, including, without limitation, each of the U.K. BorrowerForeign Borrowers, jointly and the German Borrower, severally obligated to repay such Loans) from time to time during from the Revolving Availability PeriodClosing Date through the European Swingline Termination Date as requested by the Foreign Borrowers, in an aggregate principal accordance with the terms of Section 2.12(b); provided, that (a) the Assigned Dollar Value of all outstanding European Swingline Loans (after giving effect to any amount at any time outstanding that will not (subject requested) when added to the provisions sum of Section 2.01(e)) result in (i) the aggregate principal amount (reflecting the Assigned Dollar Value of any outstanding Foreign Currency Loans) of all outstanding Revolving Loans plus (ii) the sum of the principal amount of any drawings not reimbursed pursuant to Section 2.5(d) and the undrawn amount of outstanding Letters of Credit (reflecting the Assigned Dollar Value of such unreimbursed drawings made in an Alternative Currency or such undrawn amount of any Letters of Credit payable in an Alternative Currency) plus (iii) the aggregate principal amount of any outstanding Swingline Loans, shall not exceed the Aggregate Commitment, and (b) the Assigned Dollar Value of all outstanding European Swingline Loans exceeding (after giving effect to any amount requested) shall not exceed the European Swingline Commitment, (ii)(A) the Total Adjusted Revolving Exposure (German) exceeding the Total Adjusted Borrowing Base (German), (B) the Total Adjusted Revolving Exposure (Swiss) exceeding the Total Adjusted Borrowing Base (Swiss) or (B) the Total Adjusted Revolving Exposure exceeding the Total Adjusted Borrowing Base, or (iii) the Total Revolving Exposure exceeding the lesser of (A) the Total Revolving Commitment and (B) the Total Borrowing Base then in effect; provided that the European Swingline Lender shall not be required to make a European Swingline Loan (i) to refinance an outstanding European Swingline Loan, or if another European Swingline Loan is then outstanding or (ii) if a European Swingline Loan has been outstanding within three (3) Business Days prior to the date of such requested European Swingline LoanCommitted Amount. Within the foregoing limits and subject Subject to the terms and conditions set forth herein, hereof the European Administrative Borrower, the U.K. Borrower, and the German Borrower Foreign Borrowers may borrow, repay and reborrow Revolving Loans hereunder until the European Swingline LoansTermination Date.
Appears in 2 contracts
Samples: Credit Agreement (Ahl Services Inc), Credit Agreement (Ahl Services Inc)
European Swingline Commitment. Subject to the terms and conditions set forth hereinof this Agreement, the European Swingline Lender agrees to make European Swingline Loans to the European Administrative BorrowerForeign Borrowers (but with each of the Borrowers, including, without limitation, each of the U.K. BorrowerForeign Borrowers, jointly and the German Borrower, severally obligated to repay such Loans) from time to time during from the Revolving Availability PeriodClosing Date through the European Swingline Termination Date as requested by the Foreign Borrowers, in an aggregate principal accordance with the terms of Section 2.12(b); provided, that (a) the Assigned Dollar Value of all outstanding European Swingline Loans (after giving effect to any amount at any time outstanding that will not (subject requested) when added to the provisions sum of Section 2.01(e)) result in (i) the aggregate principal amount (reflecting the Assigned Dollar Value of any outstanding Foreign Currency Loans) of all outstanding Revolving Loans plus (ii) the undrawn amount of outstanding Letters of Credit plus (iii) the aggregate principal amount of any outstanding Swingline Loans, shall not exceed the Aggregate Commitment, and (b) the Assigned Dollar Value of all outstanding European Swingline Loans exceeding the European Swingline Commitment, (ii)(Aafter giving effect to any amount requested) the Total Adjusted Revolving Exposure (German) exceeding the Total Adjusted Borrowing Base (German), (B) the Total Adjusted Revolving Exposure (Swiss) exceeding the Total Adjusted Borrowing Base (Swiss) or (B) the Total Adjusted Revolving Exposure exceeding the Total Adjusted Borrowing Base, or (iii) the Total Revolving Exposure exceeding the lesser of (A) the Total Revolving Commitment and (B) the Total Borrowing Base then in effect; provided that the European Swingline Lender shall not be required to make a European Swingline Loan (i) to refinance an outstanding European Swingline Loan, or if another European Swingline Loan is then outstanding or (ii) if a European Swingline Loan has been outstanding within three (3) Business Days prior to the date of such requested European Swingline Loanexceed $7,500,000. Within the foregoing limits and subject Subject to the terms and conditions set forth herein, hereof the European Administrative Borrower, the U.K. Borrower, and the German Borrower Foreign Borrowers may borrow, repay and reborrow Revolving Loans hereunder until the European Swingline LoansTermination Date.
Appears in 1 contract
Samples: Credit Agreement (Ahl Services Inc)