Common use of Extended Revolving Loan Commitments Clause in Contracts

Extended Revolving Loan Commitments. (a) (i) On the Initial Maturity Date, Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Lenders to purchase participations therein and to make payments in respect thereof pursuant to Sections 3.04 and 3.05) under (and ratably participated in by Lenders under the applicable tranche pursuant to) the outstanding 2023 Extended Revolving Loan Commitments and any Extended Revolving Loan Commitments up to an aggregate amount not to exceed the aggregate principal amount of the unutilized 2023 Extended Revolving Loan Commitments and the Extended Revolving Loan Commitments at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated).

Appears in 2 contracts

Samples: Abl Credit Agreement (Tesla, Inc.), Amendment and Restatement Agreement (Tesla, Inc.)

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Extended Revolving Loan Commitments. (a) (i) On If the Initial Maturity DateDate shall have occurred at a time when Extended Revolving Loan Commitments are in effect, then such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Lenders to purchase participations therein and to make payments in respect thereof pursuant to Sections 3.04 and 3.05) under (and ratably participated in by Lenders under the applicable tranche pursuant to) the outstanding 2023 Extended Revolving Loan Commitments and any Extended Revolving Loan Commitments up to an aggregate amount not to exceed the aggregate principal amount of the unutilized 2023 Extended Revolving Loan Commitments and the Extended Revolving Loan Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated).

Appears in 1 contract

Samples: Security Agreement (Tesla Motors Inc)

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Extended Revolving Loan Commitments. (aiia) (i) On If the Initial 2023 ExtendedInitial Maturity DateDate shall have occurred at a time when Extended Revolving Loan Commitments are in effect, then such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Lenders to purchase participations therein and to make payments in respect thereof pursuant to Sections 3.04 and 3.05) under (and ratably participated in by Lenders under the applicable tranche pursuant to) the outstanding 2023 Extended Revolving Loan Commitments and any Extended Revolving Loan Commitments up to an aggregate amount not to exceed the aggregate principal amount of the unutilized 2023 Extended Revolving Loan Commitments and the Extended Revolving Loan Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated).

Appears in 1 contract

Samples: Abl Credit Agreement (Tesla, Inc.)

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