Excess Borrowings Sample Clauses

Excess Borrowings. (i) Subject to clause (ii) below as it applies to Tranche 2 of Facility A, if on any date the aggregate principal amount of outstanding Facility A Advances or Facility B Advances, respectively, shall exceed either the Facility A Maximum Commitments or Facility B Maximum Commitments, respectively, or the Facility A Borrowing Base or the Facility B Borrowing Base, respectively, the Borrower shall immediately prepay the then-outstanding balance of Facility A Advances or Facility B Advances, as applicable, by an amount equal to such excess together with all accrued (or accreted, in the case of Facility B) but unpaid interest relating thereto.
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Excess Borrowings. If, at any time, for any reason (i) the Total Revolving Outstandings (other than any Overadvances and Protective Advances to the extent permitted hereunder) at such time exceed the Line Cap then in effect, (ii) the Total Revolving Outstandings at such time exceed the Revolving Credit Maximum Amount at such time (except to the extent consented to by all Lenders in accordance with Section 2.02(h)), or (iii) the Total Revolving Outstandings at such time exceed the amount then permitted to be outstanding under Section 6.08, then in any such case the Borrowers shall immediately prepay Revolving Loans and Swingline Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess.
Sample 1
Excess Borrowings. If on any date the aggregate principal amount ------------------ of outstanding Advances shall exceed the Maximum Commitments or the Borrowing Base, the Borrower shall immediately prepay the then-outstanding balance of Advances by an amount equal to such excess together with all accrued but unpaid interest relating thereto. No amounts prepaid pursuant to this subsection (c) shall be available for reborrowing whether before or after the Commitment Termination Date. Any such prepayment shall be applied to the prepayment of a ratable aggregate principal amount of the applicable Advances. Each prepayment hereunder shall be allocated among the Lenders on a pro rata basis. The Borrower shall pay such additional --- ---- amounts as are sufficient to pay the Lenders' Breakage Costs associated with such prepayment in accordance with (S) 3.04(b). -----------
Sample 1
Excess Borrowings. Except as provided in Section 1.1(a)(ii), Borrower shall immediately repay the Revolving Loan to the extent that the outstanding principal balance of the Revolving Loan exceeds the lesser of the Borrowing Base and the Maximum Amount. The prepayments shall be applied in accordance with Section 1.5(e).
Sample 1
Excess Borrowings. If at any time the Revolving Loan Indebtedness shall exceed the Borrowing Limit, the Companies shall immediately pay cash to the Lender to be credited to the Revolving Loan in such amount as shall be necessary to reduce the Revolving Loan Indebtedness to the Borrowing Limit.
Sample 1
Excess Borrowings. The Borrowers will immediately prepay the Loans on any date that the aggregate principal amount of all Loans exceeds the lesser of (A) the difference between (x) the total Commitment and (y) the aggregate amount of all reserves established by the Administrative Agent prior to such date in accordance with the definition of the term “Availability” and (B) the maximum aggregate principal amount of Loans projected to be outstanding during the then current Budget Period as set forth in the Budget (subject to the Permitted Deviation therefrom and except as otherwise permitted in Section 2.1(b)(i)), to the full extent of any such excess. On each day that any Loans are outstanding, the Borrowers shall hereby be deemed to represent and warrant to the Agents and the Lenders that (1) the difference between (x) the total Commitment and (y) the aggregate amount of all reserves established by the Administrative Agent prior to such day in accordance with the definition of the term “Availability” equals or exceeds the aggregate principal amount of all Loans outstanding on such day and (2) the aggregate principal amount of all Loans outstanding on such day does not exceed the maximum aggregate principal amount of Loans projected to be outstanding during the then current Budget Period as set forth in the Budget (subject to the Permitted Deviation therefrom and except as otherwise permitted in Section 2.1(b)(i)).
Sample 1
Excess Borrowings. If at any time the Outstanding Loans for any Tranche exceeds the maximum Commitment for such Tranche, then Borrower shall within three (3) Business Days of the date the Administrative Agent so notifies the Borrower in writing pay to the Administrative Agent the amount of such excess for the respective accounts of the Lenders. Each repayment under this subparagraph shall be allocated among the Lenders, in proportion, as nearly as practicable, to the respective Outstanding Amounts under the appropriate Tranche in inverse order of maturity, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.
Sample 1
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Excess Borrowings. If at any time, (i) the sum of the Revolving Credit Outstandings at such time and the aggregate principal amount of Term Loans outstanding at such time exceeds the Aggregate Maximum Credit at such time, (ii) the Revolving Credit Outstandings of any Borrower exceeds the Maximum Available Borrowing Base of such Borrower at such time or (iii) the aggregate Australian Dollar Outstandings at such time exceed the aggregate Australian Dollar Sublimits at such time, then the Borrowers (or, in the case of clause (ii) above, such Borrower and, in the case of clause (iii) above, the Australian Borrowers) shall forthwith prepay first the Swing Loans, then the Revolving Loans and then the Term Loans then outstanding (and, in the case of clause (ii) above, owing by such Borrower and, in the case of clause (iii) above, owing by the Australian Borrowers) in an amount equal to such excess and in the currency such Loans were made. If any such excess remains after such repayment, the Borrowers (or, in the case of clause (ii) above, such Borrower and, in the case of clause (iii) above, the Australian Borrowers) shall provide cash collateral for the Letter of Credit Obligations of the Borrowers (or, in the case of clause (ii) above, such Borrower CREDIT AGREEMENT SWIFT & COMPANY and, in the case of clause (iii) above, the Australian Borrowers) in the manner set forth in Section 9.3 (Actions in Respect of Letters of Credit) in an amount equal to 102% of such excess and, if any such excess remains after providing such cash collateral, the Company and Australian Holdings shall prepay the Term Loans owing by either of them in the amount of such excess. All repayments of the Term Loans made pursuant to this clause (c) shall be applied (x) first, pro rata to the last four (or, if less, all remaining) installments of the Term Loans and (y) after each such installment shall have been paid in full, to the remaining installments of the Term Loans in the inverse order of their maturity.
Sample 1
Excess Borrowings. Borrower shall not permit or allow the aggregate unpaid amount of the Revolving Loan at any time to exceed the Maximum Available Amount, and Borrower shall repay the Revolving Loan by an amount equal to and to the extent of any such excess, immediately upon obtaining notice or knowledge thereof.
Sample 1

Related to Excess Borrowings

  • Revolving Borrowings Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrower, in Dollars, from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving Commitment; provided, however, that after giving effect to any Revolving Borrowing, (i) the Total Revolving Outstandings shall not exceed the Revolving Facility, and (ii) the Revolving Exposure of any Lender shall not exceed such Revolving Lender’s Revolving Commitment. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow Revolving Loans, prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein; provided, however, any Revolving Borrowings made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such Revolving Borrowing.

  • Bank Borrowings If the Fund borrows money from any bank (including the Custodian if the borrowing is pursuant to a separate agreement) for investment or for temporary or emergency purposes using Securities held by the Custodian hereunder as collateral for such borrowings, the Fund shall deliver to the Custodian Instructions specifying with respect to each such borrowing: (a) the Series to which such borrowing relates; (b) the name of the bank, (c) the amount of the borrowing, (d) the time and date, if known, on which the loan is to be entered into, (e) the total amount payable to the Fund on the borrowing date, (f) the Securities to be delivered as collateral for such loan, including the name of the issuer, the title and the number of shares or the principal amount of any particular Securities, and (g) a statement specifying whether such loan is for investment purposes or for temporary or emergency purposes and that such loan is in conformance with the 1940 Act and the Fund’s prospectus. The Custodian shall deliver on the borrowing date specified in Instructions the specified collateral against payment by the lending bank of the total amount of the loan payable, provided that the same conforms to the total amount payable as set forth in the Instructions. The Custodian may, at the option of the lending bank, keep such collateral in its possession, but such collateral shall be subject to all rights therein given the lending bank by virtue of any promissory note or loan agreement. The Custodian shall deliver such Securities as additional collateral as may be specified in Instructions to collateralize further any transaction described in this Section. The Fund shall cause all Securities released from collateral status to be returned directly to the Custodian, and the Custodian shall receive from time to time such return of collateral as may be tendered to it. In the event that the Fund fails to specify in Instructions the Series, the name of the issuer, the title and number of shares or the principal amount of any particular Securities to be delivered as collateral by the Custodian, the Custodian shall not be under any obligation to deliver any Securities.

  • Revolving Loans and Borrowings (a) Each Loan shall be made as part of a Borrowing consisting of Revolving Loans made by the Lenders in accordance with their respective Applicable Percentages. The failure of any Lender to make any Revolving Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Revolving Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Revolving Loans as required.

  • Revolving Loan Borrowings (i) Each Borrowing of Revolving Loans shall be made on notice given by a Borrower to the Revolving and LC Administrative Agent not later than 11:00 a.m. (New York time) (A) on the Business Day of the proposed Borrowing, in the case of a Borrowing of Base Rate Loans and (B) three Business Days prior to the date of the proposed Borrowing, in the case of a Borrowing of Eurodollar Rate Loans. Each such notice shall be in substantially the form of Exhibit C-2 (a “Notice of Revolving Borrowing”) (or shall be made by telephone and the same information shall be confirmed promptly thereafter in writing), specifying (1) the date of such proposed Borrowing, (2) the aggregate amount of such proposed Borrowing, (3) whether any portion of the proposed Borrowing will be of Base Rate Loans or Eurodollar Rate Loans, (4) the initial Interest Period or Interest Periods for any such Eurodollar Rate Loans, and (5) remittance instructions. The Revolving Loans shall be made as Base Rate Loans unless, subject to Section 2.17, the Notice of Revolving Borrowing specifies that all or a portion thereof shall be Eurodollar Rate Loans. Each Borrowing of Revolving Loans shall be in an aggregate amount that is an integral multiple of $1,000,000.00 (or $500,000.00 with respect to Swing Loans) and shall be allocated ratably in accordance with each Revolving Lender’s Revolving Commitment.

  • Term Borrowings Subject to the terms and conditions expressly set forth herein, each Term Lender severally agrees to make to the Borrower on the Closing Date one or more Term Borrowings of Initial Term Loans denominated in Dollars in an aggregate amount not to exceed at any time outstanding the amount of such Term Lender’s Initial Term Commitment. Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be re-borrowed. Term Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.

  • Pro Rata Borrowings All Borrowings of Loans under this Agreement shall be incurred from the Lenders pro rata on the basis of their Commitments. It is understood that no Lender shall be responsible for any default by any other Lender of its obligation to make Loans hereunder and that each Lender shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to make its Loans hereunder.

  • All Borrowings On the date of each Borrowing:

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Repayment of Outstanding Loans; Borrowing of New Loans On the on the effective date of such increase, the Borrower shall repay all Loans then outstanding, subject to the Borrower’s indemnity obligations under Section 5.10 [Indemnity]; provided that it may borrow new Loans with a Borrowing Date on such date. Each of the Lenders shall participate in any new Loans made on or after such date in accordance with their respective Ratable Shares after giving effect to the increase in Revolving Credit Commitments contemplated by this Section 2.11.

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