Common use of General Description of Facility Clause in Contracts

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 by payment of any Tranche Rate funding breakage costs in accordance with Section 2.6(e). (iv) Any prepayment of a Tranche Rate Loan on a day other than the last day of an Interest Period therefor shall include interest on the principal amount being repaid and shall be subject to Section 2.6(e). All prepayments of an Advance shall be applied first to that portion of such Advance comprised of Base Rate Loans and then to that portion of such Advance comprised of Tranche Rate Loans, in direct order of Interest Period maturities.

General Description of Facility. Subject to and upon the terms and conditions herein set forth, Xxxxxx Lender hereby establishes in favor of Borrower the Revolving Loan pursuant to which Xxxxxx Lender agrees to make Advances to Borrower in accordance with this Section 2.1 on a revolving basis upon Xxxxxxxx's Borrower’s request. Subject to the terms and conditions set forth herein, Xxxxxx Lender 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 Lender’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, 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 by payment of any Tranche Rate funding breakage costs in accordance with Section 2.6(e). (iv) Any prepayment of a Tranche Rate Loan on a day other than the last day of an Interest Period therefor shall include interest on the principal amount being repaid and shall be subject to Section 2.6(e). All prepayments of an Advance shall be applied first to that portion of such Advance comprised of Base Rate Loans and then to that portion of such Advance comprised of Tranche Rate Loans, in direct order of Interest Period maturities.

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).. DOCVARIABLE BABC_DocID4891-7708-7367.4 (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 by payment of any Tranche Rate funding breakage costs in accordance with Section 2.6(e). (iv) Any prepayment of a Tranche Rate Loan on a day other than the last day of an Interest Period therefor shall include interest on the principal amount being repaid and shall be subject to Section 2.6(e). All prepayments of an Advance shall be applied first to that portion of such Advance comprised of Base Rate Loans and then to that portion of such Advance comprised of Tranche Rate Loans, in direct order of Interest Period maturities.

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 by payment of any Tranche Rate funding breakage costs in accordance with Section 2.6(e). (iv) Any prepayment of a Tranche Rate Loan on a day other than the last day of an Interest Period therefor shall include interest on the principal amount being repaid and shall be subject to Section 2.6(e). All prepayments of an Advance shall be applied first to that portion of such Advance comprised of Base Rate Loans and then to that portion of such Advance comprised of Tranche Rate Loans, in direct order of Interest Period maturities.