Foreign Revolver Loan Sample Clauses

Foreign Revolver Loan. Each Lender severally agrees, on the terms and subject to the conditions hereinafter set forth, to make Foreign Revolver Advances to the Foreign Borrower on a Business Day during the period from the Closing Date to the Maturity Date, in an aggregate principal amount not to exceed at any time outstanding such Lender's Foreign Revolver Specified Percentage of the difference between the Foreign Revolver Commitment and the sum (without duplication) of (i) the undrawn face amount of all outstanding Letters of Credit, plus (ii) reimbursement obligations under Article III hereof (or if any Letters of Credit or reimbursement obligations are denominated in a currency other than Dollars, the Dollar equivalent of such currency), plus (iii) Foreign Revolver Advances then outstanding. Subject to the terms and conditions of this Agreement, the Foreign Borrower may borrow, repay and reborrow the Foreign Revolver Advances; provided, however, that at no time shall the sum (without -------- ------- duplication) of (i) all outstanding Foreign Revolver Advances, plus (ii) the undrawn face amount of all outstanding Letters of Credit (or if any Letter of Credit is denominated in a currency other than Dollars, the Dollar equivalent of such currency), plus (iii) reimbursement obligations under Article III hereof (or if any reimbursement obligation is denominated in a currency other than Dollars, the Dollar equivalent of such currency)exceed the Foreign Revolver Commitment.
Sample 1
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Foreign Revolver Loan. Payment of the Obligations under the Foreign Revolver Loan will be secured by (i) a Guarantee of Domestic Borrower secured by the Domestic Collateral; (ii) a first perfected security interest in all tangible and intangible assets of Foreign Borrower including current and future IRU Agreements, but excluding: (A)assets purchased and subject to Liens under vendor financing arrangements permitted hereunder, (B) certain assets set forth on Schedule 8.13 or approved by Majority Lenders that may not by contract or ------------- law be pledged or assigned, and (C) the Excluded IRU Agreements; (iii) 100% of the Capital Stock of all FB Subsidiaries; (iv) Guaranties by all Domestic DB Subsidiaries, which Guaranties shall be secured by a first perfected security interest in all tangible and intangible assets of such Domestic DB Subsidiaries including current and future IRU Agreements, but excluding: (A) assets purchased and subject to Liens under vendor financing arrangements permitted hereunder, (B) certain assets set forth on Schedule 8.13 or approved by Majority Lenders ------------- that may not by contract or law be pledged or assigned, and (C) the Excluded IRU Agreements;(v)Guaranties by FB Subsidiaries;(vi) Guaranties made by FB Subsidiaries with assets in excess of $2 million, shall be secured by a first perfected security interest in all tangible and intangible assets of such FB Subsidiaries including current and future IRU Agreements, but excluding: (A) assets purchased and subject to Liens under vendor financing arrangements permitted hereunder, (B) certain assets set forth on Schedule 8.13 or approved ------------- by Majority Lenders that may not by contract or law be pledged or assigned, and (C) the Excluded IRU Agreements; (vii) Guaranties by Foreign DB Subsidiaries, which Guaranties shall be secured by a first perfected security interest in all tangible and intangible assets of such Foreign DB Subsidiaries including current and future IRU Agreements, but excluding: (A) assets purchased and subject to Liens under vendor financing arrangements permitted hereunder, (B) certain assets set forth on Schedule 8.13 or approved by Majority Lenders that may not ------------- by contract or law be pledged or assigned, and (C) the Excluded IRU Agreements. (collectively, together with all other Properties or assets of the Borrowers, their Subsidiaries and other Persons securing the Foreign Obligations from time to time, the "Foreign Collateral"). The Domestic Coll...
Sample 1
Foreign Revolver Loan. Payment of the Obligations under the Foreign Revolver Loan will be secured by (i) a Guarantee of Domestic Borrower secured by the Domestic Collateral; (ii) a first perfected security interest in all tangible and intangible assets of Foreign Borrower including current and future IRU Agreements, but excluding: (A) assets purchased and subject to Liens under vendor financing arrangements permitted hereunder, (B) certain assets set forth on Schedule 8.13 or approved by Majority Lenders that may not by contract or law be pledged or assigned, and (C) the Excluded IRU Agreements; (iii) 100% of the Capital Stock of all FB Subsidiaries; (iv) Guaranties by all Domestic DB Subsidiaries (other than PGE Fiber), which Guaranties shall be secured by a first perfected security interest in all tangible and intangible assets of such Domestic DB Subsidiaries including current and future IRU Agreements, but excluding: (A) assets purchased and subject to Liens under vendor financing arrangements permitted hereunder, (B) certain assets set forth on Schedule 8.13 or approved by Majority Lenders that may not by contract or law be pledged or assigned, (C) the Excluded IRU Agreements, and (D) any assets of PGE Fiber;(v)
Sample 1

Related to Foreign Revolver Loan

  • Revolver Loans Each Lender agrees, severally on a Pro Rata basis up to its Revolver Commitment, on the terms set forth herein, to make Revolver Loans to Borrowers from time to time through the Commitment Termination Date. The Revolver Loans may be repaid and reborrowed as provided herein. In no event shall Lenders have any obligation to honor a request for a Revolver Loan if the unpaid balance of Revolver Loans outstanding at such time (including the requested Loan) would exceed the Borrowing Base.

  • Revolver Advances (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Revolver Commitment agrees (severally, not jointly or jointly and severally) to make revolving loans (“Advances”) to Borrower in an amount at any one time outstanding not to exceed the lesser of:

  • Prepayments of Revolving Credit Advances The Borrower ---------------------------------------- may, upon notice at least two Business Days' prior to the date of such prepayment, in the case of Eurodollar Rate Advances, and not later than 12:00 noon (New York City time) on the date of such prepayment, in the case of Base Rate Advances, to the Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amount of the Revolving Credit Advances comprising part of the same Revolving Credit Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in -------- ------- an aggregate principal amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

  • Repayment of Revolver Loans Revolver Loans shall be due and payable in full on the Revolver Termination Date, unless payment is sooner required hereunder. Revolver Loans may be prepaid from time to time, without penalty or premium. If any Asset Disposition includes the disposition of Accounts or Inventory, then Net Proceeds equal to the greater of (a) the net book value of such Accounts and Inventory, or (b) the reduction in the Borrowing Base upon giving effect to such disposition, shall be applied to the Revolver Loans. Notwithstanding anything herein to the contrary, if an Overadvance exists, Borrowers shall, on the sooner of Agent’s demand or the first Business Day after any Borrower has knowledge thereof, repay the outstanding Revolver Loans in an amount sufficient to reduce the principal balance of Revolver Loans to the Borrowing Base.

  • Mandatory Repayments of Revolving Credit Loans If at any time the sum of the outstanding principal amount of the Revolving Credit Loans plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations plus the outstanding amount of Swing Line Loans exceeds the lesser of (i) the Total Commitment at such time, and (ii) the Borrowing Base at such time, then, in any case, the Borrower shall immediately pay the amount of such excess to the Administrative Agent for the respective accounts of the Lenders for application: first, to any Unpaid Reimbursement Obligations; second, to the Swing Line Loans; third, to the Revolving Credit Loans; and fourth, to provide to the Administrative Agent Cash Collateral for Reimbursement Obligations as contemplated by §4.2. Each payment of any Unpaid Reimbursement Obligations or prepayment of Revolving Credit Loans shall be allocated among the applicable Lenders, in proportion, as nearly as practicable, to each Reimbursement Obligation or (as the case may be) the respective unpaid principal amount of each applicable Lender’s Revolving Credit Loan, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.

  • Revolving Credit Loan The Borrower hereby requests a [Revolving Credit Loan under §2.1] [Swing Loan under §2.5] of the Credit Agreement: Principal Amount: $ Type (LIBOR Rate, Base Rate): Drawdown Date: Interest Period for LIBOR Rate Loans: by credit to the general account of the Borrower with the Agent at the Agent’s Head Office. [If the requested Loan is a Swing Loan and the Borrower desires for such Loan to be a LIBOR Rate Loan following its conversion as provided in §2.5(d), specify the Interest Period following conversion: ]

  • Disbursement of Revolving Credit and Swingline Loans Not later than 2:00 p.m. on the proposed borrowing date, (i) each Revolving Credit Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Revolving Credit Loans to be made on such borrowing date and (ii) the Swingline Lender will make available to the Administrative Agent, for the account of the Borrower, at the office of the Administrative Agent in funds immediately available to the Administrative Agent, the Swingline Loans to be made on such borrowing date. The Borrower hereby irrevocably authorizes the Administrative Agent to disburse the proceeds of each borrowing requested pursuant to this Section in immediately available funds by crediting or wiring such proceeds to the deposit account of the Borrower identified in the most recent notice substantially in the form attached as Exhibit C (a “Notice of Account Designation”) delivered by the Borrower to the Administrative Agent or as may be otherwise agreed upon by the Borrower and the Administrative Agent from time to time. Subject to Section 5.7 hereof, the Administrative Agent shall not be obligated to disburse the portion of the proceeds of any Revolving Credit Loan requested pursuant to this Section to the extent that any Revolving Credit Lender has not made available to the Administrative Agent its Revolving Credit Commitment Percentage of such Loan. Revolving Credit Loans to be made for the purpose of refunding Swingline Loans shall be made by the Revolving Credit Lenders as provided in Section 2.2(b).

  • Revolving Credit Loan Requests Except as otherwise provided herein, subject to the notice requirements set forth in this Section 2.5.1 and the other terms and conditions hereof, the Borrower may from time to time prior to the Expiration Date request the Lenders to make Revolving Credit Loans, or renew or convert the Interest Rate Option applicable to existing Revolving Credit Loans pursuant to Section 4.2 [Interest Periods], by delivering to the Administrative Agent, not later than 11:00 a.m., (i) three (3) Business Days prior to the proposed Borrowing Date with respect to the making of Revolving Credit Loans to which the LIBOR Rate Option applies or the conversion to or the renewal of the LIBOR Rate Option for any Loans; and (ii) the same Business Day of the proposed Borrowing Date with respect to the making of a Revolving Credit Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any Loan, of a duly completed request therefor substantially in the form of Exhibit 2.5.1 or a request by telephone immediately confirmed in writing in such form and delivered by facsimile or email (in “pdf,” “tif” or similar format) (each, a “Loan Request”); it being understood that the Administrative Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify or certify, as applicable (i) the proposed Borrowing Date; (ii) the aggregate amount of the proposed Loans comprising each Borrowing Tranche, which amount shall be in (x) an integral multiple of $1,000,000 and not less than $5,000,000 for each Borrowing Tranche under the LIBOR Rate Option and (y) an integral multiple of $50,000 and not less than the lesser of $500,000 or the maximum amount available for Borrowing Tranches to which the Base Rate Option applies; (iii) whether the LIBOR Rate Option or Base Rate Option shall apply to the proposed Loans comprising the applicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an appropriate Interest Period for the Loans comprising such Borrowing Tranche.

  • Interest on Revolving Credit Loans Except as otherwise provided in Section 5.11,

  • Funds for Revolving Credit Loans (a) Subject to the other provisions of this §2, not later than 11:00 a.m. (Cleveland, Ohio time) on the proposed Drawdown Date of any Revolving Credit Loan, each of the Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the Lenders. All such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

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