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. (ii) Notwithstanding clause (i), above, with respect to Overadvances permitted pursuant to the final paragraph of Section 2.01(a), the Borrower shall be required to repay such Overadvances, if any, together with all accrued but unpaid interest relating thereto, on the 180th day following the date of this Agreement. (iii) Beginning on December 31, 1999 amounts prepaid on Facility B on or prior to such date pursuant to subsection (d)(i) hereof because of borrowings in excess of the Facility B Borrowing Base, will be available for reborrowing prior to the Facility B Commitment Termination Date in accordance with the terms and conditions of this Agreement otherwise applicable thereto. Except as provided in clause (iv) below, no other amounts prepaid or repaid pursuant to subsection (d)(i) or (d)(ii) shall be available for reborrowing whether before or after the Facility A Commitment Termination Date or the Facility B Commitment Termination Date, respectively. (iv) Amounts prepaid in accordance with the provisions of Section 7.06(b)(iii)(A)(1)(IV) shall be available for reborrowing prior to the Facility A Commitment Termination Date. (v) 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 applicable 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 prepayments in accordance with Section 3.04(b).
Sample 1
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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. 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
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
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. 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
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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

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.

  • 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. (b) Subject to Section 2.11, (i) each Borrowing denominated in dollars shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith, (ii) each Borrowing denominated in Euro shall be comprised entirely of EURIBOR Loans, (iii) each Borrowing denominated in Hong Kong Dollars shall be comprised entirely of 1-HIBOR Loans, (iv) each Borrowing denominated in Singapore Dollars shall be comprised entirely of SIBOR Loans, (v) each Borrowing denominated in Australian Dollars shall be comprised entirely of Australian Bank Xxxx Rate Loans, (vi) each Borrowing denominated in Canadian Dollars shall be comprised entirely of Canadian BA Rate Loans and (vii) each Borrowing denominated in any Permitted Foreign Currency (other than Euros, Hong Kong Dollars, Singapore Dollars, Australian Dollars or Canadian Dollars) shall be comprised entirely of Eurodollar Loans. Each Lender at its option may make any Revolving Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Revolving Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Revolving Loan in accordance with the terms of this Agreement. (c) At the commencement of each Interest Period for any Eurodollar Borrowing, EURIBOR Borrowing, HIROR Borrowing, SIBOR Borrowing, Australian Bank Xxxx Rate Borrowing or Canadian BA Rate Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum. At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Revolving Commitments. Borrowings of more than one Type may be outstanding at the same time; provided that there shall not at any time be more than a total of ten Eurodollar Borrowings, EURIBOR Borrowings, HIBOR Borrowings, SIBOR Borrowings, Australian Bank Xxxx Rate Borrowings or Canadian BA Rate Borrowings outstanding. (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date.

  • Revolving Loan Borrowings During the Revolving Commitment Period, subject to the terms and conditions hereof, each Revolving Credit Lender severally agrees to make Revolving Loans denominated in Dollars to the Borrowers (on a joint and several basis) in an aggregate amount not to exceed at any time outstanding the amount of such Xxxxxx’s Revolving Commitment; provided, that after giving effect to the making of any Revolving Loans, (i) in no event shall the aggregate amount of Revolving Exposure exceed the aggregate amount of Revolving Commitments then in effect and (ii) no Lender’s Revolving Exposure shall exceed such Xxxxxx’s Revolving Commitment. Subject to the terms and conditions hereof, amounts borrowed pursuant to this Section 2.01(c) may be repaid and reborrowed during the Revolving Commitment Period. Revolving Loans may be Base Rate Loans or SOFR Loans as further provided herein.

  • Pro Rata Borrowings 8 1.08 Interest...........................................................................................8 1.09

  • All Borrowings The obligation of any Bank to make a Loan to a Borrower on the occasion of any Borrowing is subject to the satisfaction of the following conditions by such Borrower: (a) receipt by the Administrative Agent of a Notice of Borrowing as required by Section 2.2, which is completed in a manner satisfactory to the Administrative Agent in all respects; (b) immediately after such Borrowing, the aggregate outstanding principal amount of the Loans to the borrowing Borrower will not exceed its Maximum Amount; (c) immediately after such Borrowing, the aggregate principal amount of the Loans to all Borrowers will not exceed the aggregate Commitment Amounts; (d) immediately before and after such Borrowing, no Default or Event of Default shall have occurred and be continuing with respect to the borrowing Borrower; (e) each of the representations and warranties of the borrowing Borrower contained in this Agreement shall be true on and as of the date of such Borrowing (unless any such representation and warranty shall relate solely to an earlier date, in which case such representation and warranty shall be true and correct as of such earlier date); (f) receipt by the Administrative Agent with respect to the borrowing Borrower (other than a Borrower listed on Schedule 4.9 (as supplemented from time to time)) of a duly executed FRB Form FR U-1 for each Bank as required pursuant to FRB Regulation U (12 C.F.R. § 221.1 et seq.), which the Administrative Agent will promptly deliver to each Bank, in form and substance satisfactory to the Administrative Agent and its counsel, together with all information requested by the Administrative Agent in connection therewith, including updates of information, if any, required by such Regulation U, provided the Administrative Agent will request of said borrowing Borrower such documentation with respect to Form FR U-1 as any Bank may reasonably request and will deliver the same to said requesting Bank upon receipt; and (g) receipt by the Administrative Agent of payment instructions from the Borrower, as required under Section 2.3(b). Each Borrowing hereunder shall be deemed to be a representation and warranty by the borrowing Borrower on the date of such Borrowing as to the facts specified in clauses (b), (c), (d) and (e) of this Section.

  • 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.

  • Revolving Credit Borrowings Subject to the terms and conditions expressly set forth herein, on the Closing Date (subject to the Closing Date Revolver Cap) and thereafter each Revolving Credit Lender severally agrees to make Revolving Credit Loans denominated in an Approved Currency to the Borrower pursuant to Section 2.02 (each such loan, together with any loans made pursuant to an Extended Revolving Credit Commitment, Incremental Revolving Loans and Refinancing Revolving Credit Loans, a “Revolving Credit Loan”) from time to time, on any Business Day during the period from the Closing Date until the Maturity Date, in an aggregate principal amount not to exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment; provided that after giving effect to any Revolving Credit Borrowing, the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Lender’s Pro Rata Share or other applicable share provided for under this Agreement of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share or other applicable share provided for under this Agreement of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Credit Commitment. Within the limits of each Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and re-borrow under this Section 2.01(b) in each case without premium or penalty (subject to Section 3.05). Revolving Credit Loans denominated in Dollars may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.

  • Borrowings to Repay Swing Loans PNC may, at its option, exercisable at any time for any reason whatsoever, demand repayment of the Swing Loans, and each Lender shall make a Revolving Credit Loan in an amount equal to such Lender’s Ratable Share of the aggregate principal amount of the outstanding Swing Loans, plus, if PNC so requests, accrued interest thereon, provided that no Lender shall be obligated in any event to make Revolving Credit Loans in excess of its Revolving Credit Commitment minus its Ratable Share of Letter of Credit Obligations. Revolving Credit Loans made pursuant to the preceding sentence shall bear interest at the Base Rate Option and shall be deemed to have been properly requested in accordance with Section 2.5.1 [Revolving Credit Loan Requests] without regard to any of the requirements of that provision. PNC shall provide notice to the Lenders (which may be telephonic or written notice by letter, facsimile or telex) that such Revolving Credit Loans are to be made under this Section 2.6.5 and of the apportionment among the Lenders, and the Lenders shall be unconditionally obligated to fund such Revolving Credit Loans (whether or not the conditions specified in Section 2.5.1 [Revolving Credit Loan Requests] are then satisfied) by the time PNC so requests, which shall not be earlier than 3:00 p.m. on the Business Day next after the date the Lenders receive such notice from PNC.

  • The Revolving Credit Borrowings Subject to the terms and conditions set forth herein each Revolving Credit Lender severally agrees to make revolving credit loans denominated in an Approved Currency to the Borrower from its applicable Lending Office (each such loan, a “Revolving Credit Loan”) from time to time as elected by the Borrower pursuant to Section 2.02, on any Business Day during the period from the Closing Date until the Maturity Date with respect to such Revolving Credit Lender’s applicable Revolving Credit Commitment, in an aggregate Principal Amount not to exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment at such time; provided that after giving effect to any Revolving Credit Borrowing, the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Lender’s Pro Rata Share or other applicable share provided for under this Agreement of the Outstanding Amount of all L/C Obligations, plus such Lender’s Pro Rata Share or other applicable share provided for under this Agreement of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Credit Commitment. Within the limits of each Lender’s Revolving Credit Commitments, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Credit Loans denominated in Dollars may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein.

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