Lenders Not Required To Make Loans Sample Clauses

Lenders Not Required To Make Loans. No Lender shall be required to make any Loan (x) if, after giving effect thereto, the aggregate outstanding principal amount of all Loans (a) of all Lenders would exceed the lesser of (i) the Available Borrowing Base and (ii) the Commitment Amount, or (b) of such Lender would exceed such Lender's Percentage of the lesser of (i) the Available Borrowing Base and (ii) the Commitment Amount, or (y) if, after giving effect thereto, any of the "Commitment Amount" as defined in the Credit Agreement remains unused.
Sample 1Sample 2
AutoNDA by SimpleDocs
Lenders Not Required To Make Loans. No Lender shall be ---------------------------------- required to make any Loan if, after giving effect thereto: (a) the aggregate outstanding principal amount of all Loans of all Lenders would exceed the Total Commitment Amount; or (b) the aggregate outstanding principal amount of all Loans of such Lender would exceed such Lender's Percentage of the Total Commitment Amount.
Sample 1Sample 2
Lenders Not Required To Make Loans. No Lender shall be required to make any Loan if, after giving effect thereto, the aggregate outstanding principal amount of: (a) all Revolving A Loans (i) of all Revolving A Lenders with a Revolving A Loan Commitment would exceed the Revolving A Loan Commitment Amount reduced by the aggregate amount of the outstanding Revolving A Loans and the aggregate amount of all Letter of Credit Outstandings issued by Revolving A Lenders; or (ii) of such Revolving A Lender with a Revolving A Loan Commitment would exceed such Revolving A Lender's Revolving A Loan Commitment reduced by the aggregate amount of such Revolving A Lender's outstanding Revolving A Loans and such Revolving A Lender's percentage of the aggregate amount of all Letter of Credit Outstandings; (b) all Revolving B Loans (i) of all Revolving B Lenders with a Revolving B Loan Commitment would exceed the Revolving B Loan Commitment Amount; or (ii) of such Revolving B Lender with a Revolving B Loan Commitment would exceed such Revolving B Lender's Revolving B Loan Commitment reduced by the aggregate amount of such Revolving B Lender's outstanding Revolving B Loans; or (c) all Revolving C Loans (i) of all Revolving C Lenders with a Revolving C Loan Commitment would exceed the Revolving C Loan Commitment Amount; or (ii) of such Revolving C Lender with a Revolving C Loan Commitment would exceed such Revolving C Lender's Revolving C Loan Commitment reduced by the aggregate amount of such Revolving C Lender's outstanding Revolving C Loans; provided, however, in no event shall the foregoing prohibit or restrict any Lender from acquiring another Lender's Loan Commitment in accordance with Section 10.11.
Sample 1
Lenders Not Required To Make Loans. No ---------------------------------- Lender shall be required to make (a) any Revolving Loan if, after giving effect thereto, (i) the aggregate outstanding principal Dollar Equivalent amount of all Revolving Loans, all L/C Obligations and all Money Market Loans of all Lenders would exceed the Revolving Loan Commitment Amount, or
Sample 1
Lenders Not Required To Make Loans. No Lender shall be required to make any Loan (x) if, after giving effect thereto, the aggregate outstanding principal amount of all Loans plus the Effective Amount of all L/C Obligations (a) of all Lenders would exceed the lesser of (i) the Available Borrowing Base and (ii) the Commitment Amount, or (b) of such Lender would exceed such Lender's Percentage of the lesser of (i) the Available Borrowing Base and (ii) the Commitment Amount, or if, after giving effect thereto, any loans are outstanding under the Seasonal (y) Line of Credit Agreement.
Sample 1
Lenders Not Required To Make Loans. No Lender shall be ---------------------------------- required to make: (a) any Revolving Loan if, after giving effect thereto, (i) the aggregate outstanding principal amount of all Revolving Loans would exceed the Revolving Loan Commitment Amount, or (ii) the aggregate outstanding principal amount of all Revolving Loans of such Lender would exceed such Lender's Revolving Loan Commitment; or (b) any Term Loan if, after giving effect thereto, (i) the aggregate outstanding principal amount of all 364-Day Term Loans would exceed the 364-Day Term Loan Commitment Amount, or (ii) the aggregate outstanding principal amount of all Construction Term Loans would exceed the Construction Term Loan Commitment Amount, or (iii) the outstanding principal amount of the 364-Day Term Loan of such Lender would exceed such Lender's 364-Day Term Loan Commitment, or (iv) the aggregate outstanding principal amount of all Construction Term Loans of such Lender would exceed such Lender's Construction Term Loan Commitment.
Sample 1

Related to Lenders Not Required To Make Loans

  • Certificates for Reimbursement; Repayment of Outstanding Loans; Borrowing of New Loans A certificate of a Lender or the Issuing Lender setting forth the amount or amounts necessary to compensate such Lender or the Issuing Lender or its holding company, as the case may be, as specified in Sections 5.8.1 [Increased Costs Generally] or 5.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Failure to Make Advances The failure of any Lender to make the Advance to be made by it on the date specified in Section 2.03(c) shall not relieve any other Lender of its obligation hereunder to make its Advance on such date, but no Lender shall be responsible for the failure of any other Lender to make the Advance to be made by such other Lender on such date.

  • Mandatory Prepayments and Commitment Reductions (a) If any Indebtedness shall be incurred by any Group Member (other than Excluded Indebtedness), an amount equal to 100% of the Net Cash Proceeds thereof shall be applied on the date of such issuance, incurrence or contribution toward the prepayment of the Term Loans and the reduction of the Revolving Commitments as set forth in Section 4.2(d). (b) If on any date any Group Member shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, unless a Reinvestment Notice shall be delivered in respect thereof, 100% of the Net Cash Proceeds thereof shall be applied on such date toward the prepayment of the Term Loans and the reduction of the Revolving Commitments as set forth in Section 4.2(d); provided that, notwithstanding the foregoing, on each Reinvestment Prepayment Date, an amount equal to the Reinvestment Prepayment Amount with respect to the relevant Reinvestment Event shall be applied toward the prepayment of the Loans as set forth in Section 4.2(d). (c) If, for any fiscal year of the Borrower, commencing with the fiscal year ending December 31, 2010, there shall be Excess Cash Flow, the Borrower shall, on the relevant Excess Cash Flow Application Date, apply the difference between (i) the ECF Percentage of such Excess Cash Flow and (ii) all optional prepayments of the Term Loans during such fiscal year toward the prepayment of the Term Loans and the reduction of the Revolving Commitments. Each such prepayment and commitment reduction shall be made on a date (an “Excess Cash Flow Application Date”) no later than five Business Days after the earlier of (A) the date on which the financial statements of the Borrower referred to in Section 7.1(a), for the fiscal year with respect to which such prepayment is made, are required to be delivered to the Lenders and (B) the date such financial statements are actually delivered. (d) Amounts to be applied in connection with mandatory prepayments and commitment reductions made pursuant to Section 4.2(a), (b) and (c) shall be applied, first, to the prepayment of the Term Loans in accordance with Section 4.8(b) and second, to reduce permanently the Revolving Commitments. Any such reduction of the Revolving Commitments shall be accompanied by prepayment of the Revolving Loans and/or Swingline Loans to the extent, if any, that the Total Revolving Extensions of Credit exceed the amount of the Total Revolving Commitments as so reduced; provided that if the aggregate principal amount of Revolving Loans and Swingline Loans then outstanding is less than the amount of such excess (because L/C Obligations constitute a portion thereof), the Borrower shall, to the extent of the balance of such excess, replace outstanding Letters of Credit and/or deposit an amount in cash in a cash collateral account established with the Administrative Agent for the benefit of the Lenders on terms and conditions satisfactory to the Administrative Agent. The application of any prepayment pursuant to Section 4.2 shall be made, first, to Base Rate Loans and, second, to Eurodollar Loans. Each prepayment of the Loans under Section 4.2 (except in the case of Revolving Loans that are Base Rate Loans and Swingline Loans) shall be accompanied by accrued interest to the date of such prepayment on the amount prepaid.

  • Availability of Types of Advances If any Lender determines that maintenance of its Eurodollar Loans at a suitable Lending Installation would violate any applicable law, rule, regulation, or directive, whether or not having the force of law, or if the Required Lenders determine that (i) deposits of a type and maturity appropriate to match fund Eurodollar Advances are not available or (ii) the interest rate applicable to Eurodollar Advances does not accurately reflect the cost of making or maintaining Eurodollar Advances, then the Agent shall suspend the availability of Eurodollar Advances and require any affected Eurodollar Advances to be repaid or converted to Floating Rate Advances, subject to the payment of any funding indemnification amounts required by Section 3.4.

  • Application of Mandatory Prepayments by Type of Loans Except as provided in subsection 2.4D, any amount required to be applied as a mandatory prepayment of the Loans and/or a reduction of the Revolving Loan Commitment Amount pursuant to subsections 2.4B(iii)(a)-(f) shall be applied first to prepay the Term Loans to the full extent thereof, second, to the extent of any remaining portion of such amount, to prepay the Swing Line Loans to the full extent thereof and to permanently reduce the Revolving Loan Commitment Amount by the amount of such prepayment, third, to the extent of any remaining portion of such amount, to prepay the Revolving Loans to the full extent thereof and to further permanently reduce the Revolving Loan Commitment Amount by the amount of such prepayment, fourth, to the extent of any remaining portion of such amount, to further permanently reduce the Revolving Loan Commitment Amount to the full extent thereof and fifth, to the extent of any remaining portion of such amount, to cash collateralize any outstanding Letters of Credit. Any mandatory reduction of the Revolving Loan Commitment Amount pursuant to this subsection 2.4B shall be in proportion to each Revolving Lender’s Pro Rata Share.

  • Application of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans Considering each Class of Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

  • Repayment of Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Revolving Loans outstanding on such date.

  • Loans, Advances, Investments, Etc Make or commit or agree to make, or permit any of its Subsidiaries make or commit or agree to make, any Investment in any other Person except for Permitted Investments.

  • CONDITIONS TO ALL BORROWINGS The obligations of the Lenders to make any Loan or issue any Letter of Credit, whether on or after the Closing Date, shall also be subject to the satisfaction of the following conditions precedent:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!