Common use of Facility A Clause in Contracts

Facility A. Until the Revolving Credit Termination Date, each Lender agrees, on the terms and conditions set forth in this Agreement, to make loans (individually, a "Facility A Loan" and, collectively, the "Facility A Loans") to the Borrowers from time to time in a principal amount requested by either Borrower up to the maximum amount of the Facility A Commitment which each Lender agrees to extend to the Borrowers as set forth opposite such Lender's signature hereto under the heading "Facility A Commitment" or as otherwise provided in Section 10.13 hereof, as such amount may be reduced pursuant hereto. The Facility A Commitments may be utilized by the Borrowers in the form of Facility A Loans and Letters of Credit, all as more fully hereinafter set forth, provided that the aggregate principal amount of Facility A Loans and Letters of Credit outstanding at any one time under Facility A shall not exceed the lesser of (i) the Facility A Commitments and (ii) the Borrowing Base as then determined and computed. During the period from and including the date hereof to but not including the Revolving Credit Termination Date, the Borrowers may use the Facility A Commitments by borrowing, repaying and reborrowing Facility A Loans in whole or in part and/or by having the Agent issue Letters of Credit, having such Letters of Credit expire or otherwise terminate without having been drawn upon or, if drawn upon, reimbursing the Agent for each such drawing, and having the Agent issue new Letters of Credit, all in accordance with the terms and conditions of this Agreement. For purposes of this Agreement, where a determination of the unused or available amount of the Facility A Commitments is necessary, the Facility A Loans, the Facility B Loans and the face amount of all Letters of Credit shall be deemed to utilize the Facility A Commitments. The obligations of the Lenders hereunder are several and not joint, and no Lender shall under any circumstances be obligated to extend credit under the Facility A Commitments in excess of its Facility A Commitment. Each Borrowing of Facility A Loans shall be made ratably from the Lenders in accordance with their Facility A Commitments.

Appears in 1 contract

Samples: Credit Agreement (Lasalle Partners Inc)

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Facility A. Until the Revolving Credit Termination DateEach Lender agrees to lend to Borrower its Pro Rata Part of one or more Borrowings under Facility A which Borrower may borrow, each Lender agrees, on the terms repay and conditions set forth in reborrow under this Agreement, to make loans ; (individually, a "a) Each Borrowing under Facility A Loan" and, collectively, must occur on a Business Day and no later than the "Facility A Loans") to the Borrowers from time to time in a principal amount requested by either Borrower up to the maximum amount of Business Day immediately preceding the Facility A Commitment which each Lender agrees to extend to the Borrowers as set forth opposite such Lender's signature hereto under the heading "Facility A Commitment" Maturity Date; (b) Each Borrowing must be in an amount not less than (i) $1,000,000 or as otherwise provided in Section 10.13 hereofa greater integral multiple of $100,000 (if an ABR Borrowing other than a Swing Line Borrowing) or (ii) $2,000,000 or a greater integral multiple of $100,000 (if a LIBOR Rate Borrowing); (c) When determined, as such amount may be reduced pursuant hereto. The Facility A Commitments may be utilized by the Borrowers in the form of Facility A Loans and Letters of Credit, all as more fully hereinafter set forth, provided that the aggregate principal amount of Facility A Loans and Letters of Credit outstanding at any one time under Facility A shall not exceed the lesser of (i) the Facility A Commitments and Commitment Usage may not exceed the Facility A Committed Sum, (ii) the Borrowing Base as then determined and computed. During the period from and including the date hereof to but not including the Revolving Credit Termination Date, the Borrowers may use the Facility A Commitments by borrowing, repaying and reborrowing Facility A Loans in whole or in part and/or by having the Agent issue Letters of Credit, having such Letters of Credit expire or otherwise terminate without having been drawn upon or, if drawn upon, reimbursing the Agent for each such drawing, and having the Agent issue new Letters of Credit, all in accordance with the terms and conditions of this Agreement. For purposes of this Agreement, where a determination of the unused or available amount no Lender's Pro Rata Part of the Facility A Commitments is necessaryCommitment Usage may exceed such Lender's Facility A Committed Sum, and (iii) the Facility A LoansCommitment Usage, when aggregated with the Facility B Loans and Principal Debt may not exceed the face Total Commitment; (d) The Borrower shall make a Borrowing under Facility A on the Closing Date in an amount sufficient to refinance its existing revolving credit facility with The Chase Manhattan Bank, as Agent; and (e) The principal amount of all Letters $2,512,300 of Credit shall be deemed to utilize the Facility A Commitments. The obligations of Committed Sum shall be available to Borrower from the Lenders hereunder are several and not jointdate hereof until March 15, and no Lender shall under any circumstances be obligated to extend credit under 1999, (the "LEASE FACILITY FUND") at which time the Facility A Commitments in excess of its Facility A Commitment. Each Borrowing of Facility A Loans Committed Sum shall be made ratably permanently reduced by the Lease Facility Fund and no amounts of the Lease Facility Fund may be drawn by Borrower thereafter. Borrowings from the Lenders in accordance with their Lease Facility A CommitmentsFund shall be used solely for the purchase by Borrower of certain designated properties approved by Agent and subject to the lease agreements between Monro Leasing, LLC, a Delaware limited liability company, and a Wholly Owned Subsidiary of Borrower, as Lessee, and Brazos Automotive Properties, L.P., as Lessor.

Appears in 1 contract

Samples: Credit Agreement (Monro Muffler Brake Inc)

Facility A. Until the Revolving Credit Termination Date, each Each Facility A Lender severally agrees, on the terms and conditions set forth in this Agreementhereinafter , to make loans advances (individually, a "Facility A Loan" and, collectively, the "Facility A LoansAdvances") to the Borrowers from time Borrower of up to time in a an aggregate principal amount requested by either Borrower up not to exceed such Facility A Lender's Facility A Commitment on any Business Day from the maximum amount of date hereof until the Facility A Commitment which each Lender agrees to extend to the Borrowers as set forth opposite such Lender's signature hereto under the heading "Termination Date. Each Facility A Commitment" or as otherwise provided Loan shall be in Section 10.13 hereofan amount equal to at least $1,000,000 (or, as such amount may be reduced pursuant hereto. The if less, the aggregate remaining unused amounts of all Facility A Commitments may Lenders' Facility A Commitments) (unless such Facility A Loan is made in order to pay Nortel any amount owing to Nortel or any Affiliate thereof, in which case there shall be utilized by the Borrowers in the form no minimum amount for such Facility A Advance) and shall consist of Facility A Loans and Letters Advances of Credit, all as more fully hereinafter set forth, provided that the same Type made on the same day by the Facility A Lenders ratably according to their respective Facility A Commitments. In no event shall the aggregate principal amount of all Facility A Loans and Letters of Credit Advances outstanding at on any one time under Facility A shall not date exceed the lesser of of: (i) the Facility A Maximum Commitments and as of such date, and (ii) the Facility A Borrowing Base as then determined and computedof such date. During Notwithstanding the immediately preceding sentence, for the period from the date of this Agreement to and including [*] days after the date hereof to but not including the Revolving Credit Termination Date, the Borrowers may use the Facility A Commitments by borrowing, repaying and reborrowing Facility A Loans in whole or in part and/or by having the Agent issue Letters of Credit, having such Letters of Credit expire or otherwise terminate without having been drawn upon or, if drawn upon, reimbursing the Agent for each such drawing, and having the Agent issue new Letters of Credit, all in accordance with the terms and conditions of this Agreement. For purposes of this Agreement, where a determination the aggregate outstanding principal balance of the unused or available amount of Facility A Advances under Tranche 2 may exceed the Facility A Commitments is necessaryBorrowing Base for Tranche 2 of Facility A, but not the Facility A Loans, the Facility B Loans and the face amount of all Letters of Credit shall be deemed to utilize the Facility A Commitments. The obligations of the Lenders hereunder are several and not joint, and no Lender shall under any circumstances be obligated to extend credit under the Facility A Maximum Commitments in excess of its Facility A Commitment. Each Borrowing for Tranche 2 of Facility A Loans (the "Overadvance") provided that, (I) the Overadvance shall not exceed at any one time [*] in the aggregate, (II) any such Overadvance shall consist of loans from the Borrower to either or both [*] PCS and [*]/Omnipoint, which loans: --------------------------------------------------------------------------- * CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SEC (1) shall be made ratably from used by [*] PCS and [*]/Omnipoint, respectively, for the Lenders payment to Nortel for Nortel Goods and Services used in accordance with their Facility A Commitments.the [*] BTAs and the [*] BTAs, respectively; (2) are evidenced by Intercompany Notes that constitute Collateral hereunder; and (3) are repaid within [*] days of the date of this Agreement; and

Appears in 1 contract

Samples: Loan Agreement (Omnipoint Corp \De\)

Facility A. Until the Revolving Credit Termination Date, each Each Facility A Lender severally agrees, on the terms and conditions set forth in this Agreementhereinafter , to make loans advances (individually, a "Facility A Loan" and, collectively, the "Facility A LoansAdvances") to the Borrowers from time Borrower of up to time in a an aggregate principal amount requested by either Borrower up not to exceed such Facility A Lender's Facility A Commitment on any Business Day from the maximum amount of date hereof until the Facility A Commitment which each Lender agrees to extend to the Borrowers as set forth opposite such Lender's signature hereto under the heading "Termination Date. Each Facility A Commitment" or as otherwise provided Loan shall be in Section 10.13 hereofan amount equal to at least $1,000,000 (or, as such amount may be reduced pursuant hereto. The if less, the aggregate remaining unused amounts of all Facility A Commitments may Lenders' Facility A Commitments) (unless such Facility A Loan is made in order to pay Nortel any amount owing to Nortel or any Affiliate thereof, in which case there shall be utilized by the Borrowers in the form no minimum amount for such Facility A Advance) and shall consist of Facility A Loans and Letters Advances of Credit, all as more fully hereinafter set forth, provided that the same Type made on the same day by the Facility A Lenders ratably according to their respective Facility A Commitments. In no event shall the aggregate principal amount of all Facility A Loans and Letters of Credit Advances outstanding at on any one time under Facility A shall not date exceed the lesser of of: (i) the Facility A Maximum Commitments and as of such date, and (ii) the Facility A Borrowing Base as then determined and computedof such date. During Notwithstanding the immediately preceding sentence, for the period from the date of this Agreement to and including 180 days after the date hereof to but not including the Revolving Credit Termination Date, the Borrowers may use the Facility A Commitments by borrowing, repaying and reborrowing Facility A Loans in whole or in part and/or by having the Agent issue Letters of Credit, having such Letters of Credit expire or otherwise terminate without having been drawn upon or, if drawn upon, reimbursing the Agent for each such drawing, and having the Agent issue new Letters of Credit, all in accordance with the terms and conditions of this Agreement. For purposes of this Agreement, where a determination the aggregate outstanding principal balance of the unused or available amount of Facility A Advances under Tranche 2 may exceed the Facility A Commitments is necessaryBorrowing Base for Tranche 2 of Facility A, but not the Facility A Loans, the Facility B Loans and the face amount of all Letters of Credit shall be deemed to utilize the Facility A Commitments. The obligations of the Lenders hereunder are several and not joint, and no Lender shall under any circumstances be obligated to extend credit under the Facility A Maximum Commitments in excess of its Facility A Commitment. Each Borrowing for Tranche 2 of Facility A Loans (the "Overadvance") provided that, (I) the Overadvance shall not exceed at any one time $20,000,000 in the aggregate, (II) any such Overadvance shall consist of loans from the Borrower to either or both Wichita PCS and D&E/Omnipoint, which loans: (1) shall be made ratably from used by Wichita PCS and D&E/Omnipoint, respectively, for the Lenders payment to Nortel for Nortel Goods and Services used in accordance with their Facility A Commitments.the Wichita BTAs and the Denver & Ephrata BTAs, respectively; (2) are evidenced by Intercompany Notes that constitute Collateral hereunder; and (3) are repaid within 180 days of the date of this Agreement; and

Appears in 1 contract

Samples: Loan Agreement (Omnipoint Corp \De\)

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Facility A. Until the Revolving Credit Termination Date, each Lender agrees, on Subject to the terms and conditions set forth in this Agreementcontained herein and until the Termination Date, to Lenders shall make loans (individually, to Borrower on a "Facility A Loan" and, collectively, the "Facility A Loans") to the Borrowers revolving basis in amounts requested by Borrower from time to time (the "FACILITY A LOANS" and each, a "FACILITY A LOAN") in a principal an aggregate amount requested outstanding at any time not to exceed the lesser of $10,000,000.00 or the amount permitted by either Borrower up to the maximum amount paragraph (f) of the this Section 2.02. In addition, each Facility A Commitment which each Lender agrees to extend to the Borrowers as set forth opposite Loan shall be in an aggregate amount that is an integral multiple of $100,000.00, and no such Lender's signature hereto under the heading "Facility A Commitment" or as otherwise provided in Section 10.13 hereof, as such amount may Loan shall be reduced pursuant heretoless than the Minimum Loan. The Facility A Commitments may Loans may, upon request of Lenders, be utilized evidenced by the Borrowers a Revolving Loan Note in the form attached hereto as EXHIBIT A. Subject to availability, at Borrower's request, L/C Issuer will issue documentary letters of Facility A Loans and Letters of Creditcredit (each, all as more fully hereinafter set forth, provided that the a "DOCUMENTARY LETTER OF CREDIT") up to an aggregate principal dollar amount of Facility A Loans and Letters of Credit outstanding at any one time of Four Million Dollars ($4,000,000.00) under Facility A A, and any such drawdowns made under such Documentary Letters of Credit shall not exceed the lesser of (i) the Facility A Commitments and (ii) the Borrowing Base as then determined and computed. During the period from and including the date hereof to but not including the Revolving Credit Termination Date, the Borrowers may use the Facility A Commitments be funded by borrowing, repaying and reborrowing Facility A Loans in whole or in part and/or by having at the Agent issue Letters time of Creditsuch drawdown; PROVIDED, having such Letters of Credit expire or otherwise terminate without having been drawn upon orHOWEVER, if drawn upon, reimbursing the Agent for each such drawing, and having the Agent issue new Letters of Credit, all in accordance with the terms and conditions of this Agreement. For purposes of this Agreement, where a determination of the unused or available amount of the Facility A Commitments is necessary, the Facility A Loans, the Facility B outstanding Loans and the face amount of all outstanding Documentary Letters of Credit shall be deemed to utilize not at any time exceed the Facility A Commitments. The obligations of the Lenders hereunder are several and not joint, and no Lender shall under any circumstances be obligated to extend credit under the Facility A Commitments in excess of its Facility A CommitmentMaximum Amount. Each Borrowing of Facility A Loans shall be made ratably from the Lenders drawdown and any expense payable by Borrower in accordance with their EXHIBIT J hereto under any such Documentary Letter of Credit shall constitute a Loan under Facility C from the date of such drawdown to the first day of the next succeeding calendar month, at which time such Facility C Loan shall be refunded under Facility A Commitmentsand each Lender shall fund its respective Applicable Percentage of such Facility A Loan. Borrower shall deliver to L/C Issuer a completed and executed application form together with such other documents in the forms then required by L/C Issuer prior to the issuance of any Documentary Letter of Credit. In the event of any inconsistency between L/C Issuer's required forms and this Agreement, the Mortgages and the Assignments, the provisions of this Agreement, the Mortgages and the Assignments shall prevail. In addition, the special provisions of EXHIBIT J shall apply to any and all Documentary Letters of Credit.

Appears in 1 contract

Samples: Participation and Loan and Security Agreement (K-Sea Transportation Partners Lp)

Facility A. Until the Revolving Credit Termination Date, each Lender agrees, on Subject to the terms and conditions set forth in this Agreementcontained herein and until the Termination Date, to Lenders shall make loans (individually, to Borrower on a "Facility A Loan" and, collectively, the "Facility A Loans") to the Borrowers revolving basis in amounts requested by Borrower from time to time in a principal amount requested by either Borrower up to (the maximum amount of the Facility A Commitment which each Lender agrees to extend to the Borrowers as set forth opposite such Lender's signature hereto under the heading "Loans” and each, a “Facility A Commitment" Loan”) in an aggregate amount outstanding at any time not to exceed the lesser of $10,000,000.00 or as otherwise provided in the amount permitted by paragraph (f) of this Section 10.13 hereof2.02. In addition, as such amount may be reduced pursuant hereto. The each Facility A Commitments may Loan shall be utilized in an aggregate amount that is an integral multiple of $100,000.00, and no such Facility A Loan shall be less than the Minimum Loan. Facility A Loans may, upon request of Lenders, be evidenced by the Borrowers a Revolving Loan Note in the form attached hereto as Exhibit A. Subject to availability, at Borrower’s request, L/C Issuer will issue documentary letters of Facility A Loans and Letters credit (each, a “Documentary Letter of Credit, all as more fully hereinafter set forth, provided that the ”) up to an aggregate principal dollar amount of Facility A Loans and Letters of Credit outstanding at any one time of Four Million Dollars ($4,000,000.00) under Facility A A, and any such drawdowns made under such Documentary Letters of Credit shall not exceed the lesser of (i) the Facility A Commitments and (ii) the Borrowing Base as then determined and computed. During the period from and including the date hereof to but not including the Revolving Credit Termination Date, the Borrowers may use the Facility A Commitments be funded by borrowing, repaying and reborrowing Facility A Loans in whole or in part and/or by having at the Agent issue Letters time of Creditsuch drawdown; provided, having such Letters of Credit expire or otherwise terminate without having been drawn upon orhowever, if drawn upon, reimbursing the Agent for each such drawing, and having the Agent issue new Letters of Credit, all in accordance with the terms and conditions of this Agreement. For purposes of this Agreement, where a determination of the unused or available amount of the Facility A Commitments is necessary, the Facility A Loans, the Facility B outstanding Loans and the face amount of all outstanding Documentary Letters of Credit shall be deemed to utilize not at any time exceed the Facility A Commitments. The obligations of the Lenders hereunder are several and not joint, and no Lender shall under any circumstances be obligated to extend credit under the Facility A Commitments in excess of its Facility A CommitmentMaximum Amount. Each Borrowing of Facility A Loans shall be made ratably from the Lenders drawdown and any expense payable by Borrower in accordance with their Exhibit J hereto under any such Documentary Letter of Credit shall constitute a Loan under Facility C from the date of such drawdown to the first day of the next succeeding calendar month, at which time such Facility C Loan shall be refunded under Facility A Commitmentsand each Lender shall fund its respective Applicable Percentage of such Facility A Loan. Borrower shall deliver to L/C Issuer a completed and executed application form together with such other documents in the forms then required by L/C Issuer prior to the issuance of any Documentary Letter of Credit. In the event of any inconsistency between L/C Issuer’s required forms and this Agreement, the Mortgages and the Assignments, the provisions of this Agreement, the Mortgages and the Assignments shall prevail. In addition, the special provisions of Exhibit J shall apply to any and all Documentary Letters of Credit.

Appears in 1 contract

Samples: Participation and Loan and Security Agreement (K-Sea Tranportation Partners Lp)

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