Common use of Loan Commitment Clause in Contracts

Loan Commitment. Subject to the terms and conditions set forth herein, each Lender severally agrees to make Loans to the Borrower in Dollars, at any time and from time to time, during the period from the Closing Date to the earlier of the Maturity Date and the date of termination of the Loan Commitment (each, a "Loan" and collectively, the "Loans"); provided that (i) the sum of the aggregate amount of Loans outstanding to the Borrower plus the L/C Obligations then outstanding on any day shall not exceed the Loan Commitment and (ii) with respect to each individual Lender, the Lender's pro rata share of the sum of outstanding Loans plus the L/C Obligations then outstanding on any day shall not exceed such Lender's Commitment Percentage of the Loan Commitment. Subject to the terms and conditions of this Credit Agreement, the Borrower may borrow, repay and reborrow the amount of the Loan Commitment made to it.

Appears in 4 contracts

Samples: Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Dominion Resources Inc /Va/)

AutoNDA by SimpleDocs

Loan Commitment. Subject to the terms and conditions set forth herein, each Lender severally agrees to make Loans to the Borrower in Dollars, at any time and from time to time, during the period from the Closing Date to the earlier of the Maturity Date and the date of termination of the Loan Commitment (each, a "Loan" and collectively, the "Loans"); provided that (i) the sum of the aggregate amount of Loans outstanding to the Borrower plus the L/C Obligations then outstanding on any day shall not exceed the Loan Commitment and (ii) with respect to each individual Lender, the Lender's ’s pro rata share of the sum of outstanding Loans plus the L/C Obligations then outstanding on any day shall not exceed such Lender's ’s Commitment Percentage of the Loan Commitment. Subject to the terms and conditions of this Credit Agreement, the Borrower may borrow, repay and reborrow the amount of the Loan Commitment made to it.

Appears in 4 contracts

Samples: Five Year Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Consolidated Natural Gas Co/Va), Credit Agreement (Dominion Resources Inc /Va/)

Loan Commitment. Subject to the terms and conditions set forth herein, each Lender severally agrees to make Loans revolving loans (each a "Loan" and collectively the "Loans") to the Borrower Borrower, in Dollars, at any time and from time to time, during the period from and including the Closing Date to the earlier of but not including the Maturity Date and (or such earlier date if the date of termination Committed Amount has been terminated as provided herein); provided, however, that the sum of the Loan Commitment aggregate principal amount of outstanding Loans shall not exceed the lesser of (eachi) the Committed Amount and (ii) the Borrowing Base; provided, a "Loan" and collectivelyfurther, the "Loans"); provided that (i) the sum of the aggregate amount of Loans outstanding to the Borrower plus the L/C aggregate amount of LOC Obligations then outstanding on any day shall not exceed the Loan Commitment Committed Amount and (ii) with respect to each individual Lender, the Lender's pro rata share of the sum of outstanding Loans plus the L/C such Lender's pro rata share of outstanding LOC Obligations then outstanding on any day shall not exceed such Lender's Commitment Percentage of the Loan CommitmentCommitted Amount. Subject to the terms and conditions of this Credit AgreementAgreement (including Section 3.3), the Borrower may borrow, repay and reborrow the amount of the Loan Commitment made to itLoans.

Appears in 1 contract

Samples: Credit Agreement (Anchor Holdings Inc)

AutoNDA by SimpleDocs

Loan Commitment. Subject to the terms and conditions set forth herein, each Lender severally agrees to make Loans to the Borrower in Dollars, at any time and from time to time, during the period from the Closing Date to the earlier earliest of (i) the Maturity Date Revolving Termination Date, (ii) the date of delivery of a Notice to Convert and (iii) the date of termination of the Loan Commitment (each, a "Loan" and collectively, the "Loans"); provided that (i) the sum of the aggregate amount of Loans outstanding to the Borrower plus the L/C Obligations then outstanding on any day shall not exceed the Loan Commitment and (ii) with respect to each individual Lender, the Lender's ’s pro rata share of the sum of outstanding Loans plus the L/C Obligations then outstanding on any day shall not exceed such Lender's ’s Commitment Percentage of the Loan Commitment. Subject to the terms and conditions of this Credit Agreement, the Borrower may borrow, repay and reborrow the amount of the Loan Commitment made to it.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Consolidated Natural Gas Co/Va)

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