Common use of Limitation on Borrowings Clause in Contracts

Limitation on Borrowings. Notwithstanding anything to the contrary herein contained, the Lenders shall not be required to advance any Borrowing, conversion or continuation hereunder, or cause an L/C Credit Extension hereunder, if: (A) after giving effect to such Borrowing, conversion or continuation, or L/C Credit Extension: (A) the Principal Obligation would exceed the Available Commitment; (B) solely in the case of an L/C Credit Extension, the Letter of Credit Liability would exceed the Letter of Credit Sublimit; or (C) the Alternative Currency Liability would exceed the Alternative Currency Sublimit; (B) an Investment Suspension Event shall have occurred and is continuing; (C) a Borrower Party has delivered to: (A) the Administrative Agent a notice that indicates that it reasonably believes that the assets of such Borrower Party constitutes Plan Assets or (B) an investor a Plan Asset Notice; (D) any portion of such loan(s) shall be used for an investment in a Sanctioned Country or Sanctioned Person; (E) such Xxxxxx’s Pro Rata Share of the Principal Obligations in respect of the applicable Fund Group Sublimit would exceed such Lender’s Commitment with respect to such Fund Group Sublimit; (F) the conditions precedent for such Borrowing or for the issuance of such Letter of Credit in Section 7.02 have not been satisfied; (G) such Loan is to be denominated in a currency other than Dollars or an Alternative Currency; or (H) an Event of Default or a Potential Default exists.

Appears in 1 contract

Samples: Revolving Credit Agreement (Lafayette Square USA, Inc.)

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Limitation on Borrowings. Notwithstanding anything to the contrary herein contained, the Lenders shall not be required to advance any Borrowing, conversion or continuation hereunder, or cause an L/C Credit Extension hereunder, if:: LEGAL_US_E # 163726163.4 (A1) after giving effect to such Borrowing, conversion or continuation, or L/C Credit Extension: (A) the Principal Obligation would exceed the Available Commitment; (B) solely in the case of an L/C Credit Extension, the Letter of Credit Liability would exceed the Letter of Credit Sublimit; or (C) the Alternative Currency Liability would exceed the Alternative Currency Sublimit; (B2) an Investment Suspension Event shall have occurred and is continuing; (C3) a Borrower Party has delivered to: (A) the Administrative Agent a notice that indicates that it reasonably believes that the assets of such Borrower Party constitutes Plan Assets or (B) an investor a Plan Asset Notice; (D4) any portion of such loan(s) shall be used for an investment in a Sanctioned Country or Sanctioned Person; (E5) such XxxxxxLender’s Pro Rata Share of the Principal Obligations in respect of the applicable Fund Group Sublimit would exceed such Lender’s Commitment with respect to such Fund Group Sublimit; (F6) the conditions precedent for such Borrowing or for the issuance of such Letter of Credit in Section 7.02 have not been satisfied; (G7) such Loan is to be denominated in a currency other than Dollars or an Alternative Currency; or (H) 8) an Event of Default or a Potential Default exists.

Appears in 1 contract

Samples: Revolving Credit Agreement (Lafayette Square USA, Inc.)

Limitation on Borrowings. Notwithstanding anything to the contrary herein contained, the Lenders shall not be required to advance any Borrowing, conversion or continuation hereunder, or cause an L/C Credit Extension hereunder, if: (Ai) after giving effect to such Borrowing, conversion or continuation, or L/C Credit Extension: (A) the Principal Obligation would exceed the Available Commitment; (B) solely in the case of an L/C Credit Extension, the Letter of Credit Liability would exceed the Letter of Credit Sublimit; or (C) the Alternative Currency Liability would exceed the Alternative Currency Sublimit; (Bii) an Investment Suspension Event shall have occurred and is continuing; (Ciii) a Borrower Party has delivered to: (A) the Administrative Agent a notice that indicates that it reasonably believes that the assets of such Borrower Party constitutes Plan Assets or (B) an investor a Plan Asset Notice; (Div) any portion of such loan(s) shall be used for an investment in a Sanctioned Country or Sanctioned Person; (Ev) such XxxxxxLender’s Pro Rata Share of the Principal Obligations in respect of the applicable Fund Group Sublimit would exceed such Lender’s Commitment with respect to such Fund Group Sublimit; (Fvi) the conditions precedent for such Borrowing or for the issuance of such Letter of Credit in Section 7.02 have not been satisfied; (Gvii) such Loan is to be denominated in a currency other than Dollars or an Alternative Currency; or (Hviii) an Event of Default or a Potential Default exists.

Appears in 1 contract

Samples: Revolving Credit Agreement (Lafayette Square Empire BDC, Inc.)

Limitation on Borrowings. Notwithstanding anything to the contrary herein contained, the Lenders shall not be required to advance any Borrowing, conversion or continuation hereunder, or cause an L/C Credit Extension hereunder, if: (Ai) after giving effect to such Borrowing, conversion or continuation, or L/C Credit Extension: (A) the Principal Obligation would exceed the Available Commitment; (B) solely in the case of an L/C Credit Extension, the Letter of Credit Liability would exceed the Letter of Credit Sublimit; or (C) the Alternative Currency Liability would exceed the Alternative Currency Sublimit; (Bii) an Investment Suspension Event shall have occurred and is continuing; (Ciii) a the Borrower Party has delivered to: (A) the Administrative Agent a notice that indicates that it reasonably believes that the assets of such Borrower Party constitutes constitute Plan Assets or (B) an investor Investor a Plan Asset Notice; (Div) any portion of such loan(s) shall be used for an investment in a Sanctioned Country or Sanctioned Person; (E) such Xxxxxx’s Pro Rata Share of the Principal Obligations in respect of the applicable Fund Group Sublimit would exceed such Lender’s Commitment with respect to such Fund Group Sublimit; (Fv) the conditions precedent for such Borrowing or for the issuance of such Letter of Credit in Section 7.02 have not been satisfied; (G) such Loan is to be denominated in a currency other than Dollars or an Alternative Currency; or (Hvi) an Event of Default or a Potential Default exists.

Appears in 1 contract

Samples: Revolving Credit Agreement (Nuveen Churchill Direct Lending Corp.)

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Limitation on Borrowings. Notwithstanding anything to the contrary herein contained, the Lenders shall not be required to advance any Borrowing, conversion or continuation hereunder, or cause an L/C Credit Extension hereunder, if: (Ai) after giving effect to such Borrowing, conversion or continuation, or L/C Credit Extension: (A) the Principal Obligation would exceed the Available Commitment; or (B) solely in the case of an L/C Credit Extension, the Letter of Credit Liability would exceed the Letter of Credit Sublimit; or (C) the Alternative Currency Liability would exceed the Alternative Currency Sublimit; (Bii) an Investment Suspension Event shall have occurred and is continuing; (Ciii) a Borrower Party has delivered to: (A) the Administrative Agent a notice that indicates that it reasonably believes that the assets of such Borrower Party constitutes Plan Assets or (B) an investor a Plan Asset Notice;; 38 (Div) any portion of such loan(s) shall be used for an investment in a Sanctioned Country or Sanctioned Person; (Ev) such XxxxxxLxxxxx’s Pro Rata Share of the Principal Obligations in respect of the applicable Fund Group Sublimit would exceed such Lender’s Commitment with respect to such Fund Group Sublimit; (Fvi) the conditions precedent for such Borrowing or for the issuance of such Letter of Credit in Section 7.02 have not been satisfied; (Gvii) such Loan is to be denominated in a currency other than Dollars or an Alternative Currency; or (Hviii) an Event of Default or a Potential Default exists.

Appears in 1 contract

Samples: Revolving Credit Agreement (Lafayette Square USA, Inc.)

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