Common use of Individual Revolving Advances Clause in Contracts

Individual Revolving Advances. Each Lender, severally and not jointly, will make Revolving Advances to each Borrower in aggregate amounts outstanding at any time not greater than such Lender's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of outstanding Revolving Credit Letters of Credit or (y) the Formula Amount less the aggregate amount of outstanding Revolving Credit Letters of Credit.

Appears in 2 contracts

Samples: Revolving Credit, Term Loan and Security Agreement (PVC Container Corp), Revolving Credit, Term Loan and Security Agreement (PVC Container Corp)

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Individual Revolving Advances. Each Lender, severally and not ------------------------------ jointly, will make Revolving Advances to each Borrower Borrowers in aggregate amounts outstanding at any time not greater than such Lender's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of outstanding Revolving Credit Letters of Credit or (y) the Formula Amount less the aggregate amount of outstanding Revolving Credit Letters of Credit.

Appears in 1 contract

Samples: Revolving Credit Loan and Security Agreement (Intelligroup Inc)

Individual Revolving Advances. Each Lender, severally and not jointly, will make Revolving Advances to each Borrower in aggregate amounts outstanding at any time not greater than such Lender's Commitment Percentage of the lesser of (xi) the Maximum Revolving Advance Amount less the aggregate amount of outstanding Revolving Credit Letters of Credit or and (yii) the such Borrower's Individual Formula Amount less the aggregate maximum amount of outstanding Revolving Credit available to be drawn on Letters of Credit.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Robotic Vision Systems Inc)

Individual Revolving Advances. Each Lender, severally and not jointly, will make Revolving Advances to each Borrower in aggregate amounts outstanding at any time not greater than such Lender's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of outstanding Revolving Credit Letters of Credit or (y) the such Borrower's Individual Formula Amount less the aggregate amount of outstanding Revolving Credit Letters of CreditAmount.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Vista Information Solutions Inc)

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Individual Revolving Advances. Each Lender, severally and not jointly, will make Revolving Advances to each Borrower in aggregate amounts outstanding at any time not greater than such Lender's ’s Commitment Percentage of the lesser of (x) the such Borrower’s Individual Maximum Revolving Advance Amount less the aggregate amount of outstanding Revolving Credit Letters of Credit or (y) the such Borrower’s Individual Formula Amount less the aggregate amount of outstanding Revolving Credit Letters of Credit.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Horizon Offshore Inc)

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