Common use of Individual Currency Loans Clause in Contracts

Individual Currency Loans. Subject to the terms and conditions set forth herein, each applicable Lender severally agrees to make loans under one or more of its Individual Currency Commitments (each such loan, an “Individual Currency Loan”) to the Permitted Borrowers in respect of the applicable Non-Core Currencies from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s applicable Individual Currency Commitment; provided, however, that after giving effect to any Individual Currency Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments, (ii) the Dollar Equivalent of the aggregate outstanding principal amount of all Individual Currency Loans shall not exceed the Aggregate Individual Currency Commitments, and (iii) the aggregate principal amount of the Individual Currency Loans of any Lender denominated in an applicable Non-Core Currency shall not exceed such Lender’s Individual Currency Commitment in such applicable Non‑Core Currency. Within the limits of each Lender’s Individual Currency Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). All Individual Currency Loans shall be Eurocurrency Rate Loans.

Appears in 2 contracts

Samples: Five Year Credit Agreement (Tiffany & Co), Credit Agreement (Tiffany & Co)

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Individual Currency Loans. Subject to the terms and conditions set forth herein, each applicable Lender severally agrees to make loans under one or more of its Individual Currency Commitments (each such loan, an “Individual Currency Loan”) to the Permitted Borrowers in respect of the applicable Non-Core Currencies from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s applicable Individual Currency Commitment; provided, however, that after giving effect to any Individual Currency Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments, (ii) the Dollar Equivalent of the aggregate outstanding principal amount of all Individual Currency Loans shall not exceed the Aggregate Individual Currency Commitments, and (iii) the Dollar Equivalent of the aggregate outstanding principal amount of Individual Currency Loans denominated in any Non-Core Currency (other than Euros (France)) shall not exceed the Non-Core Currency Sublimit I, (iv) the Dollar Equivalent of the aggregate outstanding principal amount of Individual Currency Loans denominated in Euros (France) shall not exceed the Non-Core Currency Sublimit II, (v) the aggregate outstanding principal amount of the Individual Currency Loans of any Lender denominated in an applicable Non-Core Currency shall not exceed such Lender’s Individual Currency Commitment in such applicable Non‑Core CurrencyNon-Core Currency and (vi) the sum (without duplication) of (A)(I) the Revolving Credit Exposure of any Lender plus (II) the aggregate outstanding principal amount of Swing Line Loans made by such Lender or its Affiliates plus (III) the Outstanding Amount of all outstanding Letters of Credit issued by such Lender (or any Affiliate thereof) (and for which the participations of other Lenders have not been funded) plus (IV) the aggregate outstanding principal amount of all Individual Currency Loans of such Lender (or any Affiliate thereof) shall not exceed (B) the sum of (I) such Lender’s Core Currency Commitment plus (II) such Lender’s (and its Affiliates’) aggregate Individual Currency Commitments. Within the limits of each Lender’s Individual Currency Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). All Individual Currency Loans shall be Eurocurrency Rate Loans.. NYDOCS02/1167307 35

Appears in 1 contract

Samples: Credit Agreement (Tiffany & Co)

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Individual Currency Loans. Subject to the terms and conditions set forth herein, each applicable Lender severally agrees to make loans under one or more of its Individual Currency Commitments (each such loan, an “Individual Currency Loan”) to the Permitted Borrowers in respect of the applicable Non-Core Currencies from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s applicable Individual Currency Commitment; provided, however, that after giving effect to any Individual Currency Borrowing, (i) the Total Outstandings shall not exceed the Aggregate Commitments, (ii) the Dollar Equivalent of the aggregate outstanding principal amount of all Individual Currency Loans shall not exceed the Aggregate Individual Currency Commitments, and (iii) the Dollar Equivalent of the aggregate outstanding principal amount of Individual Currency Loans denominated in any Non-Core Currency (other than Euros (France)) shall not exceed the Non-Core Currency Sublimit I, (iv) the Dollar Equivalent of the aggregate outstanding principal amount of Individual Currency Loans denominated in Euros (France) shall not exceed the Non-Core Currency Sublimit II, (v) the aggregate outstanding principal amount of the Individual Currency Loans of any Lender denominated in an applicable Non-Core Currency shall not exceed such Lender’s Individual Currency Commitment in such applicable Non‑Core CurrencyNon-Core Currency and (vi) the sum (without duplication) of (A)(I) the Revolving Credit Exposure of any Lender plus (II) the aggregate outstanding principal amount of Swing Line Loans made by such Lender or its Affiliates plus (III) the Outstanding Amount of all outstanding Letters of Credit issued by such Lender (or any Affiliate thereof) (and for which the participations of other Lenders have not been funded) plus (IV) the aggregate outstanding principal amount of all Individual Currency Loans of such Lender (or any Affiliate thereof) shall not exceed (B) the sum of (I) such Lender’s Core Currency Commitment plus (II) such Lender’s (and its Affiliates’) aggregate Individual Currency Commitments. Within the limits of each Lender’s Individual Currency Commitment, and subject to the other terms and conditions hereof, the NYDOCS02/1167307 37 Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). All Individual Currency Loans shall be Eurocurrency Rate Loans.

Appears in 1 contract

Samples: Credit Agreement (Tiffany & Co)

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