General Description of Facility. Subject to and upon the terms and conditions herein set forth, the Lenders hereby establish in favor of the Borrower a revolving credit facility pursuant to which each Lender severally agrees (to the extent of such Lender’s Commitment) to make Loans to the Borrower in accordance with Section 2.2.
General Description of Facility. Subject to and upon the terms and conditions herein set forth, (i) the Lenders hereby establish in favor of the Borrower a revolving credit facility pursuant to which each Lender severally agrees (to the extent of such Lender’s Commitment) to make Loans to the Borrower in accordance with Section 2.2; (ii) the Issuing Bank may issue Letters of Credit in accordance with Section 2.21; and (iii) each Lender agrees to purchase a participation interest in the Letters of Credit pursuant to the terms and conditions hereof; provided that in no event shall the aggregate principal amount of all outstanding Loans and outstanding LC Exposure exceed the Aggregate Commitment Amount in effect from time to time.
General Description of Facility. Subject to and upon the terms and conditions herein set forth, (i) the Lender hereby establishes in favor of the Borrower a revolving credit facility pursuant to which the Lender agrees (up to the Revolving Commitment) to make Revolving Loans to the Borrower in accordance with Section 2.2, and (ii) the Lender agrees to issue Letters of Credit in accordance with Section 2.22 hereof; provided, that in no event shall the aggregate principal amount of all outstanding Revolving Loans plus the aggregate Available Amounts of all outstanding Letters of Credit exceed at any time the Revolving Commitment from time to time in effect.
General Description of Facility. Subject to and upon the terms and conditions herein set forth, Xxxxxx hereby establishes in favor of Borrower the Revolving Loan pursuant to which Xxxxxx agrees to make Advances to Borrower in accordance with this Section 2.1 on a revolving basis upon Xxxxxxxx's request. Subject to the terms and conditions set forth herein, Xxxxxx agrees to make Advances to Borrower from time to time during the Availability Period, in an aggregate principal amount outstanding at any time that will not result in Xxxxxx's Revolving Credit Exposure exceeding the lesser of (i) the Revolving Commitment and (ii) the Borrowing Base (the "Revolving Loan Availability"). During the Availability Period, Borrower shall be entitled to borrow, prepay and reborrow the Revolving Loan in accordance with the terms and conditions of this Agreement and the Note; provided, that Borrower may not borrow or reborrow should there exist a Default or Event of Default and provided further that if the 4891-8586-8126.7 Revolving Loan Availability shall at any time be less than zero dollars (such condition being an "Overadvance"), Borrower shall, within three (3) Business Days, without demand or notice, or within one (1) Business Day if demand or notice has been given, reduce the then outstanding principal balance of the Revolving Loan so that such Overadvance shall no longer exist. Any such prepayment shall be applied in accordance with Section 2.1(iii).
(i) Borrower shall deliver to Lender a Notice of Borrowing with respect to each proposed borrowing of an Advance. Once given, a Notice of Borrowing shall be irrevocable and Borrower shall be bound thereby.
(ii) Borrower hereby authorizes Xxxxxx to make Advances based on telephonic or electronic notices made by any Person which Xxxxxx, in good faith, believes to be acting on behalf of Xxxxxxxx, in accordance with procedures established by or otherwise acceptable to Xxxxxx from time to time in its sole discretion (including Xxxxxx's confirmation of such notices).
(iii) So long as no Event of Default has occurred and is continuing, any prepayments made by Borrower pursuant to Section 2.1 shall be applied as follows: first to pay any Overadvances that may be outstanding, and second to prepay the remaining Advances without a corresponding reduction in the Revolving Loan Commitment. If any Event of Default has occurred and is continuing, such amounts shall be applied as provided in Section 8.2. All prepayments made pursuant to Section 2.1 must be accompanied...
General Description of Facility. Subject to and upon the terms and conditions herein set forth, (i) the Lenders hereby establish in favor of the Borrower a revolving credit facility pursuant to which the Lenders severally agree (to the extent of each Lender’s Commitment) to make Loans to the Borrower in an amount not to exceed the aggregate Commitments in accordance with Section 2.2, (ii) the Issuing Bank agrees to issue Letters of Credit in accordance with Section 2.20, and (iii) each Lender agrees to purchase a participation interest in the Letters of Credit pursuant to the terms and conditions hereof; provided, that in no event shall the aggregate principal amount of all outstanding Loans and the LC Exposure exceed at any time the Aggregate Commitments in effect at such time.
General Description of Facility. Subject to and upon the terms and conditions herein set forth, each Lender severally agrees to make its portion of the Initial Term Loan to the Borrower on the Closing Date in a principal amount not exceeding such Lender’s Initial Term Commitment.
General Description of Facility. Subject to and upon the terms and conditions herein set forth, the Lenders hereby establish in favor of the Borrower a term loan credit facility pursuant to which the Lenders severally agree (to the extent of such Lender’s Term Loan Commitment) to make Term Loans to the Borrower in accordance with Section 2.2; provided, that in no event shall the aggregate principal amount of all outstanding Term Loans exceed at any time the Aggregate Term Loan Commitments from time to time in effect.
General Description of Facility. Subject to and upon the terms and conditions herein set forth, (a) Lenders hereby establish in favor of Borrowers a revolving credit facility pursuant to which each Lender severally agrees (to the extent of such Lender's Revolving Commitment) to make Revolving Loans to Borrowers in accordance with Section 2.2; (b) Swingline Lender agrees to make Swingline Loans in accordance with Section 2.4; and (c) LC Issuer agrees to issue Letters of Credit in accordance with Section 2.22.
General Description of Facility. Subject to and upon the terms and conditions herein set forth, (i) the Lender hereby establishes in favor of the Borrower a revolving credit facility pursuant to which the Lender agrees (up to the Revolving Commitment) to make Revolving Loans to the Borrower in accordance with Section 2.2, (ii) the Lender hereby establishes in favor of the Borrower a term credit facility pursuant to which the Lender agrees (up to the Term Commitment) to make Term Loans to the Borrower in accordance with Section 2.4, and (iii) the Lender agrees to issue Letters of Credit in accordance with Section 2.22 hereof; provided, that in no event shall the aggregate principal amount of all outstanding Revolving Loans plus the aggregate Available Amounts of all outstanding Letters of Credit exceed at any time the Revolving Commitment from time to time in effect.
General Description of Facility. Subject to and upon the terms and conditions herein set forth, (i) the Lenders hereby establish in favor of the Borrower a revolving credit facility pursuant to which the Lenders severally agree (to the extent of each Lender's Pro Rata Share up to such Lender's Revolving Commitment) to make Revolving Loans to the Borrower in accordance with Section 2.2, (ii) the Swingline Lender agrees to make Swingline Loans in accordance with Section 2.4, and (iii) the Letter of Credit Issuer agrees to issue Letters of Credit in accordance with Section 2.22 hereof; provided, that in no event shall the aggregate principal amount of all outstanding Revolving Loans and Swingline Loans plus the aggregate Available Amounts of all outstanding Letters of Credit exceed at any time the Aggregate Revolving Commitments from time to time in effect.
