European Swingline Commitment. Subject to the terms and conditions set forth herein and from and after the European Swingline Activation Date, the European Swingline Lender agrees to make European Swingline Loans to the European Administrative 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 10.10) result in (i) the aggregate principal amount of outstanding European Swingline Loans exceeding the European Swingline Commitment, (ii) the Total U.S./European Revolving Exposure exceeding the Total U.S./European Commitment, (iii) the Total Adjusted Revolving Exposure exceeding the Total Adjusted Borrowing Base, or (iv) the Total Revolving Exposure exceeding the lesser of (A) the total Revolving Commitments 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 may borrow, repay and reborrow European Swingline Loans.
Appears in 2 contracts
Samples: Credit Agreement (Novelis Inc.), Credit Agreement (Novelis South America Holdings LLC)
European Swingline Commitment. Subject to the terms and conditions set forth herein and from and after the European Swingline Activation Dateherein, the European Swingline Lender agrees to make European Swingline Loans to the European Administrative 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 10.102.01(e)) result in (i) the aggregate principal amount of outstanding European Swingline Loans exceeding the European Swingline Commitment, (ii) the Total U.S./European Revolving Exposure exceeding the Total U.S./European Commitment, (iii) the Total Adjusted Revolving Exposure exceeding the Total Adjusted Borrowing Base, or (iviii) the Total Revolving Exposure exceeding the lesser of (A) the total Total Revolving Commitments 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 may borrow, repay and reborrow European Swingline Loans.
Appears in 1 contract
Samples: Credit Agreement (Novelis Inc.)
European Swingline Commitment. Subject to the terms and conditions set forth herein and from and after the European Swingline Activation Dateherein, the European Swingline Lender agrees to make European Swingline Loans to the European Administrative Borrower Borrower, theany Swiss Borrower, any U.K. Borrower, and theany 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 10.102.01(e)) result in (i) the aggregate principal amount of outstanding European Swingline Loans exceeding the European Swingline Commitment, (iiii)(A) the Total U.S./European Adjusted Revolving Exposure (German) exceeding the Total U.S./European CommitmentAdjusted Borrowing Base (German), (iiiB) 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 (iviii) the Total Revolving Exposure exceeding the lesser of (A) the total Total Revolving Commitments Commitment and (B) the Total Borrowing Base then in effecteffect one or more of the Funding Conditions failing to be satisfied; provided that the European Swingline Lender shall not be required to make a European Swingline Loan (iix) to refinance an outstanding European Swingline Loan, or if another European Swingline Loan is then outstanding or (iiiiy) 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, theeach Swiss Borrower, each U.K. Borrower, and theeach German Borrower may borrow, repay and reborrow European Swingline Loans.
Appears in 1 contract
Samples: Credit Agreement (Novelis Inc.)
European Swingline Commitment. Subject to the terms and conditions set forth herein and from and after the European Swingline Activation Dateherein, the European Swingline Lender agrees to make European Swingline Loans to the European Administrative Borrower Borrower, any Swiss Borrower, any U.K. Borrower, and any 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 10.102.01(e)) result in (i) the aggregate principal amount of outstanding European Swingline Loans exceeding the European Swingline Commitment, (ii) one or more of the Total U.S./European Revolving Exposure exceeding the Total U.S./European Commitment, (iii) the Total Adjusted Revolving Exposure exceeding the Total Adjusted Borrowing Base, or (iv) the Total Revolving Exposure exceeding the lesser of (A) the total Revolving Commitments and (B) the Total Borrowing Base then in effectFunding Conditions failing to be satisfied; provided that the European Swingline Lender shall not be required to make a European Swingline Loan (ix) to refinance an outstanding European Swingline Loan, or if another European Swingline Loan 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. Within the foregoing limits and subject to the terms and conditions set forth herein, the European Administrative Borrower, each Swiss Borrower, each U.K. Borrower, and each German Borrower may borrow, repay and reborrow European Swingline Loans.
Appears in 1 contract
Samples: Credit Agreement (Novelis Inc.)