Limitations on Tranches. Notwithstanding anything to the contrary in this Agreement, all borrowings, conversions and continuations of Term Benchmark Loans and RFR Loans and all selections of Interest Periods shall be in such amounts and be made pursuant to such elections so that, (a) after giving effect thereto, the aggregate principal amount of the Term Benchmark Loans comprising each Tranche shall be equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof and (b) no more than ten (10) Tranches shall be outstanding at any one time.
Appears in 4 contracts
Samples: Credit Agreement (Meritage Homes CORP), Credit Agreement (Beazer Homes Usa Inc), Credit Agreement (Meritage Homes CORP)
