Facility C Commitment. Relying on each of the representations and warranties set out in ARTICLE 2 and subject to the terms of this Agreement, each Lender, severally and not jointly, agrees to make its Facility C Commitment under the Facility C Credit available to the US Borrower, on a revolving basis, during the period from the date hereof until the Facility C Termination Date:
5.1.1.1 in USDollars by way of US Prime Rate Advances;
5.1.1.2 in USDollars by way of SOFR Advances; and
5.1.1.3 in USDollars by way of Sweep to Loan Arrangement as US Prime Rate Advances; provided that a Lender shall have no obligation (a) to make any Facility C Advance if at any time the amount thereof exceeds its then Facility C Available Commitment; or (b) to make any Advance or Conversion Advance under Facility C Credit at any time that a Default or an Event of Default has occurred and is continuing (without having been cured or waived as provided in this Agreement).
Facility C Commitment. Subject to all the terms and conditions of this Restated Loan Agreement and prior to the termination of its commitment as hereinafter provided, Bank hereby agrees to make loans (each a "Facility-C Loan") to Borrower in such amounts as Borrower shall request pursuant to this Section 1.C. at any time from the date hereof through September 7, 1999 (the "Facility-C Availability End Date"), in an aggregate principal amount not to exceed $750,000.00 (the "Facility-C Commitment"). If at any time or for any reason, the outstanding principal amount of the Facility-C Loan Account (as hereinafter defined) is greater than the Facility-C Commitment, Borrower shall immediately pay to Bank, in cash, the amount of such excess. Any commitment of Bank, pursuant to the terms of this Restated Loan Agreement, to make Facility-C Loans shall expire on the Facility-C Availability End Date, subject to Bank's right to renew said commitment in its sole and absolute discretion at Borrower's request. Any such renewal of said commitment shall not be bidding upon Bank unless it is in writing and signed by an officer of Bank. Facility-C Loans that are repaid by Borrower may not be reborrowed. Borrower promises to pay to Bank the outstanding unpaid principal balance (and all accrued unpaid interest thereon) of the Facility-C Loan Account on or before September 7, 2002 ("Facility-C Maturity Date").
Facility C Commitment. The Banks agree, severally, in accordance with their respective Commitment Ratios, and not jointly, upon the terms and subject to the conditions of this Agreement, to lend to the Borrower, on the Agreement Date, an amount not to exceed, in the aggregate, the Facility C Commitment. Subject to the terms and conditions hereof, Advances under the Facility C Commitment may be repaid and reborrowed to effect a change in the Interest Rate Basis or Interest Periods relating thereto; provided, however there shall be no increase in the principal amount outstanding under the Facility C Commitment after the Agreement Date.
Facility C Commitment. Upon receipt by Borrower of new or additional equity investments by any new or existing shareholders of Borrower totalling at least Fifteen Million Dollars ($15,000,000.00) and delivery of evidence to Bank of such equity investment, in form satisfactory to Bank, and subject to all the terms and conditions of this Loan Agreement and prior to the termination of its commitment as hereinafter provided, Bank hereby agrees to make loans (each a "Facility-C Loan") to Borrower in such amounts as Borrower shall request pursuant to this Section 3 at any time from the date hereof through March 31, 1998 (the "Facility-C Availability End Date"), in an aggregate principal amount not to exceed to exceed $1,500,000.00 (the "Facility-C Commitment Amount"). If at any time or for any reason, the outstanding principal amount of the Facility-C Loan Account (as hereinafter defined) is greater than the Facility-C Commitment Amount, Borrower shall immediately pay to Bank, in cash, the amount of such excess. Any commitment of Bank, pursuant to the terms of this
Facility C Commitment. (a) From and including the Closing Date and prior to the Facility Termination Date, each Facility C Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Loans to the Borrower under Facility C from time to time in amounts not to exceed in the aggregate at any one time outstanding the amount of its Facility C Commitment. Loans under Facility C shall be (i) applied as set forth in Section 6.2, (ii) evidenced by the Facility C Notes and (iii) secured pursuant to the terms of the Collateral Documents. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow under Facility C at any time prior to the Facility Termination Date so long as any portion of the Aggregate Facility C Commitment remains unutilized. The Facility C Commitments shall expire on the Facility Termination Date.
(b) The Borrower hereby agrees that if at any time the outstanding balance of Advances under Facility C exceeds the Aggregate Facility C Commitment, the Borrower
Facility C Commitment. Subject to all the terms and conditions of this Loan Agreement and prior to the termination of its commitment as hereinafter provided, Bank hereby agrees to make loans (each a "Facility-C Loan") to Borrower in such amounts as Borrower shall request pursuant to this Section 3 at any time prior to June 30, 1999 (the "Facility-C Availability End Date"), in an aggregate principal amount not to exceed $2,000,000.00 (the "Facility-C Commitment"). If at any time or for any reason, the outstanding principal amount of the Facility-C Loan Account (as hereinafter defined) is greater than the Facility-C Commitment, Borrower shall immediately pay to Bank, in cash, the amount of such excess. Any commitment of Bank, pursuant to the terms of this Loan Agreement, to make Facility-C Loans shall expire on the Facility-C Availability End Date, subject to Bank's right to renew said commitment in its sole and absolute discretion at Borrower's request. Any such renewal of said commitment shall not be binding upon Bank unless it is in writing and signed by an officer of Bank. Facility-C Loans that are repaid by Borrower may not be reborrowed. Borrower promises to pay to Bank the outstanding unpaid principal balance (and all accrued unpaid interest thereon) of the Facility-C Loan Account on the dates set forth below, the final such date being June 30, 2002 ("Facility-C Maturity Date").
Facility C Commitment. On the terms and subject to the conditions of this Agreement (including without limitation Sections 2.1.1(c) and 2.1.4 and, with respect to Facility C Working Capital Loans, Section 8.1.11), from time to time on any Business Day occurring prior to the Facility C Loan Conversion Date, each Lender will make loans (relative to such Lender, its “Facility C Loans”) to the Borrower and/or issue, or participate in, Facility C Letters of Credit pursuant to Article IV in an aggregate principal amount not to exceed the amount set forth opposite such Lender’s name on Schedule I under the caption “Facility C Commitment” (such amount as the same may be reduced hereunder or as reduced or increased pursuant to Section 11.1(ii) or as a result of one or more assignments under Section 11.11.1, such Lender’s “Facility C Commitment”). On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow Facility C Loans prior to the Facility C Loan Conversion Date. Restrictions on Loans. None of the Lenders shall be permitted or required to:
Facility C Commitment amount not to exceed at any time outstanding the amount set forth opposite such Lender's name on Schedule II under the caption "Facility C Commitment" (such ----------- amount as the same may be reduced hereunder or as reduced or increased as a result of one or more assignments under Section 11.11.1, such Lender's "Facility --------------- -------- C Commitment"). On the terms and subject to the conditions hereof, the Borrower ------------ may from time to time borrow, prepay and reborrow Facility C Loans prior to the Facility C Loan Conversion Date.
Facility C Commitment. The Banks agree, severally, in accordance with their respective Commitment Ratios, and not jointly, upon the terms and subject to the conditions of this Agreement, to lend to the Borrower, prior to the Maturity Date, an amount not to exceed at any one time outstanding, in the aggregate, the Facility C Commitment. Subject to the terms and conditions hereof, Advances under the Facility C Commitment may be repaid and reborrowed from time to time on a revolving basis."
(b) Section 2.4 of the Loan Agreement, Commitment Fees, is hereby amended by deleting subsection 2.4(a) thereof in its entirety and by substituting the following in lieu thereof:
(a) The Borrower agrees to pay each of the Banks, in accordance with their respective Commitment Ratios for the applicable Commitment, a commitment fee on the aggregate unborrowed balance of (i) the Facility A Commitment and the Facility B Commitment for each day from the Agreement Date until the Maturity Date and (ii) the Facility C Commitment for each day from the effective date of the Second Amendment to Loan Agreement until the Maturity Date, (X) at all times during which the Total Leverage Ratio is greater than or equal to 4.50:1, at the rate of three-eighths of one percent (3/8%) per annum, and (Y) at all times during which the Total Leverage Ratio is less than 4.50:1, at the rate of one-quarter of one percent (1/4%) per annum."
(c) Subsection 2.5(a) of the Loan Agreement, Scheduled Reductions in Facility A Commitment, is hereby amended by deleting the existing subsection in its entirety and substituting the following in lieu thereof:
(a) Scheduled Reductions in Facility A and Facility C Commitment. Commencing March 31, 2000 and at the end of each calendar quarter thereafter, (i) the Facility A Commitment shall be automatically and permanently reduced by an amount equal to the percentage of the Facility A Commitment as in effect on the Agreement Date and (ii) the Facility C Commitment shall be automatically and permanently reduced by an amount equal to the Facility C Commitment as in effect on the date of the Second Amendment to Loan Agreement, pro rata between the Facility A Commitment and the Facility C Commitment, as set forth below: Amount of Dates of Facility A and Facility C Commitment Reductions Each Reduction -------------------------------------------------------- -------------- March 31, 2000, June 30, 2000, September 30, 2000 and December 31, 2000 2.500% March 31, 2001, June 30, 2001, September 30, 2001...
Facility C Commitment
