Common use of European Swingline Commitment Clause in Contracts

European Swingline Commitment. Subject to the terms and conditions of this Agreement, the European Swingline Lender agrees to make European Swingline Loans to the Foreign Borrowers (but with each of the Borrowers, including, without limitation, each of the Foreign Borrowers, jointly and severally obligated to repay such Loans) from time to time from the Closing Date through the European Swingline Termination Date as requested by the Foreign Borrowers, in 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 requested) when added to the sum of (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 (after giving effect to any amount requested) shall not exceed the European Swingline Committed Amount. Subject to the terms and conditions hereof the Foreign Borrowers may borrow, repay and reborrow Revolving Loans hereunder until the European Swingline Termination Date.

Appears in 2 contracts

Samples: Credit Agreement (Ahl Services Inc), Credit Agreement (Ahl Services Inc)

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European Swingline Commitment. Subject to the terms and conditions of this Agreementset forth herein and from and after the European Swingline Activation Date, the European Swingline Lender agrees to make European Swingline Loans to the Foreign Borrowers (but with each of the Borrowers, including, without limitation, each of the Foreign Borrowers, jointly and severally obligated to repay such Loans) European Administrative Borrower from time to time from during the Closing Date through the European Swingline Termination Date as requested by the Foreign BorrowersRevolving Availability Period, in accordance with an aggregate principal amount at any time outstanding that will not (subject to the terms provisions of Section 2.12(b); provided, that (a10.10) the Assigned Dollar Value of all outstanding European Swingline Loans (after giving effect to any amount requested) when added to the sum of result in (i) the aggregate principal amount (reflecting of outstanding European Swingline Loans exceeding the Assigned Dollar Value of any outstanding Foreign Currency Loans) of all outstanding Revolving Loans plus European Swingline Commitment, (ii) the sum of Total U.S./European Revolving Exposure exceeding 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 Total U.S./European Commitment, (iii) the aggregate principal amount Total Adjusted Revolving Exposure exceeding the Total Adjusted Borrowing Base, or (iv) the Total Revolving Exposure exceeding the lesser of any outstanding (A) the total Revolving Commitments and (B) the Total Borrowing Base then in effect; provided that the European Swingline Loans, Lender shall not exceed the Aggregate Commitment, and be required to make a European Swingline Loan (bi) the Assigned Dollar Value of all to refinance an outstanding European Swingline Loans (after giving effect to any amount requested) shall not exceed the Loan, or if another European Swingline Committed AmountLoan 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. Subject Within the foregoing limits and subject to the terms and conditions hereof set forth herein, the Foreign Borrowers European Administrative Borrower may borrow, repay and reborrow Revolving Loans hereunder until the European Swingline Termination DateLoans.

Appears in 2 contracts

Samples: Credit Agreement (Novelis Inc.), Security Agreement (Novelis South America Holdings LLC)

European Swingline Commitment. Subject to the terms and conditions of this Agreementset forth herein, the European Swingline Lender agrees to make European Swingline Loans to the Foreign Borrowers (but with each of European Administrative Borrower, the BorrowersU.K. Borrower, includingand the German Borrower, without limitation, each of the Foreign Borrowers, jointly and severally obligated to repay such Loans) from time to time from during the Closing Date through the European Swingline Termination Date as requested by the Foreign BorrowersRevolving Availability Period, in accordance with an aggregate principal amount at any time outstanding that will not (subject to the terms provisions of Section 2.12(b2.01(e); provided, that (a) the Assigned Dollar Value of all outstanding European Swingline Loans (after giving effect to any amount requested) when added to the sum of result in (i) the aggregate principal amount of outstanding European Swingline Loans exceeding the European Swingline Commitment, (reflecting the Assigned Dollar Value of any outstanding Foreign Currency Loans) of all outstanding Revolving Loans plus (iiii)(A) the sum of Total Adjusted Revolving Exposure (German) exceeding the principal amount of any drawings not reimbursed pursuant to Section 2.5(dTotal Adjusted Borrowing Base (German), (B) and the undrawn amount of outstanding Letters of Credit Total Adjusted Revolving Exposure (reflecting Swiss) exceeding the Assigned Dollar Value of such unreimbursed drawings made in an Alternative Currency Total Adjusted Borrowing Base (Swiss) or such undrawn amount of any Letters of Credit payable in an Alternative Currency(B) plus the Total Adjusted Revolving Exposure exceeding the Total Adjusted Borrowing Base, or (iii) the aggregate principal amount Total Revolving Exposure exceeding the lesser of any outstanding (A) the Total Revolving Commitment and (B) the Total Borrowing Base then in effect; provided that the European Swingline Loans, Lender shall not exceed the Aggregate Commitment, and be required to make a European Swingline Loan (bi) the Assigned Dollar Value of all to refinance an outstanding European Swingline Loans (after giving effect to any amount requested) shall not exceed the Loan, or if another European Swingline Committed AmountLoan 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. Subject Within the foregoing limits and subject to the terms and conditions hereof set forth herein, the Foreign Borrowers European Administrative Borrower, the U.K. Borrower, and the German Borrower may borrow, repay and reborrow Revolving Loans hereunder until the European Swingline Termination DateLoans.

Appears in 2 contracts

Samples: Credit Agreement (Novelis Inc.), Credit Agreement (Novelis Inc.)

European Swingline Commitment. Subject to the terms and conditions of this Agreementset forth herein, the European Swingline Lender agrees to make European Swingline Loans to the Foreign Borrowers (but with each of the BorrowersEuropean Administrative Borrower, includingtheany Swiss Borrower, without limitationany U.K. Borrower, each of the Foreign Borrowersand theany German Borrower, jointly and severally obligated to repay such Loans) from time to time from during the Closing Date through the European Swingline Termination Date as requested by the Foreign BorrowersRevolving Availability Period, in accordance with an aggregate principal amount at any time outstanding that will not (subject to the terms provisions of Section 2.12(b2.01(e); provided, that (a) the Assigned Dollar Value of all outstanding European Swingline Loans (after giving effect to any amount requested) when added to the sum of result in (i) the aggregate principal amount of outstanding European Swingline Loans exceeding the European Swingline Commitment, (reflecting the Assigned Dollar Value of any outstanding Foreign Currency Loans) of all outstanding Revolving Loans plus (iiii)(A) the sum of Total Adjusted Revolving Exposure (German) exceeding the principal amount of any drawings not reimbursed pursuant to Section 2.5(dTotal Adjusted Borrowing Base (German), (B) and the undrawn amount of outstanding Letters of Credit Total Adjusted Revolving Exposure (reflecting Swiss) exceeding the Assigned Dollar Value of such unreimbursed drawings made in an Alternative Currency Total Adjusted Borrowing Base (Swiss) or such undrawn amount of any Letters of Credit payable in an Alternative Currency(B) plus the Total Adjusted Revolving Exposure exceeding the Total Adjusted Borrowing Base, or (iii) the aggregate principal amount Total Revolving Exposure exceeding the lesser of any outstanding (A) the Total Revolving Commitment and (B) the Total Borrowing Base then in effect one or more of the Funding Conditions failing to be satisfied; provided that the European Swingline Loans, Lender shall not exceed the Aggregate Commitment, and be required to make a European Swingline Loan (bix) the Assigned Dollar Value of all to refinance an outstanding European Swingline Loans (after giving effect to any amount requested) shall not exceed the Loan, or if another European Swingline Committed AmountLoan is then outstanding or (iiy) if a European Swingline Loan has been outstanding within three (3) Business Days prior to the date of such requested European Swingline Loan. Subject Within the foregoing limits and subject to the terms and conditions hereof set forth herein, the Foreign Borrowers European Administrative Borrower, theeach Swiss Borrower, each U.K. Borrower, and theeach German Borrower may borrow, repay and reborrow Revolving Loans hereunder until the European Swingline Termination DateLoans.

Appears in 1 contract

Samples: Credit Agreement (Novelis Inc.)

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European Swingline Commitment. Subject to the terms and conditions of this Agreementset forth herein, the European Swingline Lender agrees to make European Swingline Loans to the Foreign Borrowers (but with each of the Borrowers, including, without limitation, each of the Foreign Borrowers, jointly and severally obligated to repay such Loans) European Administrative Borrower from time to time from during the Closing Date through the European Swingline Termination Date as requested by the Foreign BorrowersRevolving Availability Period, in accordance with an aggregate principal amount at any time outstanding that will not (subject to the terms provisions of Section 2.12(b2.01(e); provided, that (a) the Assigned Dollar Value of all outstanding European Swingline Loans (after giving effect to any amount requested) when added to the sum of result in (i) the aggregate principal amount (reflecting of outstanding European Swingline Loans exceeding the Assigned Dollar Value of any outstanding Foreign Currency Loans) of all outstanding Revolving Loans plus European Swingline Commitment, (ii) the sum of Total Adjusted Revolving Exposure exceeding 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 Total Adjusted Borrowing Base, or such undrawn amount of any Letters of Credit payable in an Alternative Currency) plus (iii) the aggregate principal amount Total Revolving Exposure exceeding the lesser of any outstanding (A) the Total Revolving Commitment and (B) the Total Borrowing Base then in effect; provided that the European Swingline Loans, Lender shall not exceed the Aggregate Commitment, and be required to make a European Swingline Loan (bi) the Assigned Dollar Value of all to refinance an outstanding European Swingline Loans (after giving effect to any amount requested) shall not exceed the Loan, or if another European Swingline Committed AmountLoan 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. Subject Within the foregoing limits and subject to the terms and conditions hereof set forth herein, the Foreign Borrowers European Administrative Borrower may borrow, repay and reborrow Revolving Loans hereunder until the European Swingline Termination DateLoans.

Appears in 1 contract

Samples: Security Agreement (Novelis Inc.)

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