Common use of Limitation on Amount of Advances Clause in Contracts

Limitation on Amount of Advances. Notwithstanding anything in this Agreement to the contrary, (i) the Dollar Equivalent of the aggregate principal amount of the Revolving Credit Advances made or participated in by any Lender (which for any Lender includes all U.S. Advances and all Canadian Advances by such Lender, whether directly by such Lender or through an Affiliate of such Lender in the case of Canadian Advances) at any time outstanding shall not exceed the amount of its respective Revolving Credit Commitment as of the date any such Advance is made, (ii) the aggregate principal amount of Letter of Credit Advances outstanding at any time shall not exceed $30,000,000 (iii) the aggregate Dollar Equivalent of all Canadian Advances shall not exceed $40,000,000 at any time, (iv) the sum of the Dollar Equivalent of the aggregate Revolving Credit Advances plus the Dollar Equivalent of the aggregate amount of Unrestricted Guaranties shall not exceed the aggregate Revolving Credit Commitments, (v) the sum of the Dollar Equivalent of the aggregate Revolving Credit Advances, plus the aggregate Tooling Revolving Credit Loans, plus the aggregate Dollar Equivalent of the Unrestricted Guaranties, plus the outstanding Swingline Loans and plus the aggregate outstanding amount of the Mexican Facility Tranche A Loans shall not exceed the amount of the Borrowing Base, (vi) the aggregate principal amount of the Tooling Revolving Credit Loans made by any Lender at any time outstanding shall not exceed the amount of its respective Tooling Revolving Credit Commitment as of the date any such Loan is made, (vii) the aggregate Tooling Revolving Credit Loans shall not exceed the amount of the Tooling Revolving Credit Borrowing Base, and (viii) the principal amount of the Term Loan made by any Lender shall not exceed the amount of such Lenders Term Loan Commitment as of the date the Term Loan is made.

Appears in 2 contracts

Samples: Credit Agreement (Prudenville Manufacturing Inc), Credit Agreement (Oxford Automotive Inc)

AutoNDA by SimpleDocs

Limitation on Amount of Advances. Notwithstanding anything in this Agreement to the contrary, (i) the Dollar Equivalent of the aggregate principal amount of the Revolving Credit Advances made or participated in by any Lender (which for any Lender includes all U.S. Advances Loans, the Swing Loans and all Canadian Advances by such Lender, whether directly by such Lender or through an Affiliate the Facility Letter of such Lender in the case of Canadian Advances) Credit Obligations at any time outstanding to the Borrowers shall not exceed the amount of its respective Aggregate Revolving Credit Commitment as of the date any such Advance is made, provided, however, that (iii) the Dollar Equivalent of the aggregate principal amount of Facility Letter of Credit Advances outstanding Obligations at any time shall not exceed $30,000,000 10,000,000, (iiiii) the aggregate Dollar Equivalent amount of all Canadian Advances Swing Loans denominated in Dollars at any time outstanding shall not exceed $40,000,000 at any time, (iv) the sum of the Dollar Equivalent of the aggregate Revolving Credit Advances plus 10,000,000 and the Dollar Equivalent of the aggregate amount of Unrestricted Guaranties shall not exceed the aggregate Revolving Credit Commitments, (v) the sum of the Dollar Equivalent of the aggregate Revolving Credit Advances, plus the aggregate Tooling Revolving Credit Loans, plus the aggregate Dollar Equivalent of the Unrestricted Guaranties, plus the outstanding Swingline Swing Loans and plus the aggregate outstanding amount of the Mexican Facility Tranche A Loans shall not exceed the amount of the Borrowing Base, (vi) the aggregate principal amount of the Tooling Revolving Credit Loans made by any Lender denominated in Eligible Currencies at any time outstanding shall not exceed $5,000,000, (iii) the amount Dollar Equivalent of its respective Tooling the Aggregate Revolving Credit Outstandings of any Revolving Credit Lender shall not exceed the Revolving Credit Commitment as of such Lender, (iv) the Dollar Equivalent of the date Aggregate Multicurrency Revolving Credit Outstandings of any Multicurrency Revolving Credit Lender shall not exceed the Multicurrency Revolving Credit Commitment of such Loan is made, Lender and (viiv) the aggregate Tooling Dollar Equivalent of the Aggregate Multicurrency Revolving Credit Loans shall Outstandings of all Multicurrency Revolving Credit Lenders will not exceed the amount of the Tooling Multicurrency Revolving Credit Borrowing BaseCommitments that the Company has designated to the Agent as activated (the "Activated Aggregate Multicurrency Revolving Commitments"), which activation or deactivation shall be in increments of $10,000,000, shall be effective five Business Days after notification by the Company to the Agent and shall not be reduced below the Dollar Equivalent of the Aggregate Multicurrency Revolving Credit Outstandings of all Multicurrency Revolving Credit Lenders, and (viiivi) the principal Dollar Revolving Credit Loans will not exceed the difference of the Aggregate Revolving Credit Commitments minus the amount of the Term Loan made by any Lender shall not exceed the amount of such Lenders Term Loan Commitment as of the date the Term Loan is madeActivated Aggregate Multicurrency Revolving Credit Commitment.

Appears in 1 contract

Samples: Credit Agreement (Lason Inc)

Limitation on Amount of Advances. Notwithstanding anything in this Agreement to the contrary, (i) the U.S. Dollar Equivalent of the aggregate principal amount of the Revolving U.S. Syndicated Loans, the Swingline Loans and the Letters of Credit Advances made or participated in by any Lender (which for any Lender includes all U.S. Advances and all Canadian Advances by such Lender, whether directly by such Lender or through an Affiliate of such Lender in the case of Canadian Advances) at any time outstanding to the Company shall not exceed the amount aggregate U.S. Commitments of its respective Revolving Credit Commitment all Lenders as of the date any such Advance is made, (ii) provided, however, that the U.S. Dollar Equivalent of the aggregate principal amount of Letter Letters of Credit Advances outstanding at any time shall not exceed $30,000,000 and the U.S. Dollar Equivalent of the aggregate of Swingline Loans at any time outstanding shall not exceed $20,000,000, (ii) the U.S. Dollar Equivalent of the Pro Rata Share of the aggregate U.S. Syndicated Loans, the Swingline Loans and the Letters of Credit of any U.S. Lender shall not exceed the U.S. Commitment of such U.S. Lender, (iii) the aggregate U.S. Dollar Equivalent of all the aggregate Canadian Advances Syndicated Loans of any Canadian Lender shall not exceed $40,000,000 at any timethe Canadian Commitment of such Canadian Lender, (iv) the sum of the U.S. Dollar Equivalent of the aggregate Revolving Credit Advances plus the Dollar Equivalent Canadian Syndicated Loans of the aggregate amount of Unrestricted Guaranties shall not exceed the aggregate Revolving Credit Commitments, (v) the sum of the Dollar Equivalent of the aggregate Revolving Credit Advances, plus the aggregate Tooling Revolving Credit Loans, plus the aggregate Dollar Equivalent of the Unrestricted Guaranties, plus the outstanding Swingline Loans and plus the aggregate outstanding amount of the Mexican Facility Tranche A Loans shall all Canadian Lenders will not exceed the amount of the Borrowing Baseaggregate Canadian Commitments that the Canadian Borrower has designated to the Agent as activated (the "Activated Aggregate Canadian Commitments"), and the Canadian Borrower can activate or de-activate the Canadian Commitments at any time provided that any such activation or de-activation shall be in increments of $5,000,000 and shall not exceed $15,000,000 in aggregate amount, shall be effective ten Business Days after notification by the Canadian Borrower to the Agent and shall not reduce the Activated Aggregate Canadian Commitments below the U.S. Dollar Equivalent of the aggregate Canadian Syndicated Loans of all Canadian Lenders, and (viv) the aggregate principal amount of the Tooling Revolving U.S. Syndicated Loans, the Swingline Loans and the Letters of Credit Loans made by any Lender at any time outstanding shall will not exceed the amount of its respective Tooling Revolving Credit Commitment as difference of the date any such Loan is made, (vii) the aggregate Tooling Revolving Credit Loans shall not exceed U.S. Commitments minus the amount of the Tooling Revolving Credit Borrowing Base, and (viii) the principal amount of the Term Loan made by any Lender shall not exceed the amount of such Lenders Term Loan Commitment as of the date the Term Loan is madeActivated Aggregate Canadian Commitments.

Appears in 1 contract

Samples: Guaranty Agreement (Universal Forest Products Inc)

AutoNDA by SimpleDocs

Limitation on Amount of Advances. Notwithstanding anything in this Agreement to the contrary, (i) the Dollar Equivalent of the aggregate principal amount of the Revolving Credit Advances made or participated in by any Lender (which for any Lender includes all U.S. Advances and all Canadian Advances by such Lender, whether directly by such Lender or through an Affiliate of such Lender in the case of Canadian Advances) at any time outstanding shall not exceed the amount of its respective Revolving Credit Commitment as of the date any such Advance is made, (ii) the aggregate principal amount of Letter of Credit Advances outstanding at any time shall not exceed $30,000,000 (iii) the aggregate Dollar Equivalent of all Canadian Advances shall not exceed $40,000,000 at any time, (iv) the sum of the Dollar Equivalent of the aggregate Revolving Credit Advances plus the Dollar Equivalent of the aggregate amount of Unrestricted Guaranties shall not exceed the aggregate Revolving Credit Commitments, (v) the sum of the Dollar Equivalent of the aggregate Revolving Credit Advances, plus the aggregate Tooling Revolving Credit Loans, Loans plus the aggregate Dollar Equivalent of the Unrestricted Guaranties, Guaranties plus the outstanding Swingline Loans and plus the aggregate outstanding amount of the Mexican Facility Tranche A Loans shall not exceed the amount of the Borrowing Base, (vi) the aggregate principal amount of the Tooling Revolving Credit Loans made by any Lender at any time outstanding shall not exceed the amount of its respective Tooling Revolving Credit Commitment as of the date any such Loan is made, (vii) the aggregate Tooling Revolving Credit Loans shall not exceed the amount of the Tooling Revolving Credit Borrowing Base, and (viii) the principal amount of the Term Loan made by any Lender shall not exceed the amount of such Lenders Term Loan Commitment as of the date the Term Loan is made.

Appears in 1 contract

Samples: Credit Agreement (Prudenville Manufacturing Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.