Common use of Making of Revolving Credit Loans Clause in Contracts

Making of Revolving Credit Loans. Subject to the terms and conditions set forth in this Agreement, each of the Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with §2.1(c), such sums as are requested by the Borrower for the purposes set forth in §7.19 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) the sum of such Lender’s Commitment and (ii) such Lender’s Percentage of the sum of (A) the Unencumbered Pool Availability minus (B) the sum of the amount of all outstanding Revolving Credit Loans, Swing Loans and Letter of Credit Liabilities and the Unsecured Debt; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment, and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans, Letter of Credit Liabilities and the Unsecured Debt shall not at any time cause a violation of the covenants set forth in §8.1(a). The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of the Borrower set forth in §9.1 and §9.2 have been satisfied on the date of such request. The Agent may assume that the conditions in §9.1 and §9.2 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Making of Revolving Credit Loans. Subject (a) The Agent may assume that each Lender will make its ratable portion of any amount to be borrowed available to the terms and conditions set forth Agent in this Agreement, each of the Lenders severally agrees to lend to the Borroweraccordance with Section 2.02(c), and the Agent may in its discretion, in reliance upon such assumption, make available to the applicable Revolving Loan Borrower may borrow (on such date a corresponding amount. If and repay and reborrow) from time to time between the Closing Date extent such Lender shall not make such ratable portion available to the Agent, such Lender and the Maturity Date upon notice by the applicable Revolving Loan Borrower severally agree to repay to the Agent given in accordance forthwith on demand such corresponding amount, together with §2.1(c)interest thereon for each day from the date such amount is made available to such Revolving Loan Borrower until the date such amount is repaid to the Agent, as to such sums Revolving Loan Borrower, at the rate of interest applicable to Revolving Credit Loans hereunder, and as are requested to such other Lender, at the Federal Funds Effective Rate and until so repaid such amount shall be deemed to constitute a Revolving Credit Loan by the Agent to such Revolving Loan Borrower for the purposes set forth in §7.19 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal hereunder entitled to the lesser of (i) the sum of such Lender’s Commitment and (ii) such Lender’s Percentage benefits of the sum of (A) Collateral and the Unencumbered Pool Availability minus (B) other provisions hereof applicable to the sum of the amount of all outstanding Revolving Credit Loans. If such Lender shall repay to the Agent such corresponding amount, Swing Loans and Letter of Credit Liabilities and the Unsecured Debt; provided, that, in all events no Default or Event of Default amount so repaid shall have occurred and be continuing; and provided, further, that the outstanding principal amount constitute such Lender's ratable portion of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter made on such borrowing date for purposes of Credit Liabilities shall not at any time exceed the Total Commitment, and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans, Letter of Credit Liabilities and the Unsecured Debt shall not at any time cause a violation of the covenants set forth in §8.1(a). The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of the Borrower set forth in §9.1 and §9.2 have been satisfied on the date of such request. The Agent may assume that the conditions in §9.1 and §9.2 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfiedthis Agreement. No Lender shall have be responsible for the failure of any obligation other Lender to make its ratable portion of such Revolving Credit Loans available on the borrowing date. (b) Without limiting the generality of Article IX, each Lender expressly authorizes the Agent to determine on behalf of such Lender (i) whether to make Revolving Credit Loans requested or deemed requested by a Revolving Loan Borrower on any borrowing date, (ii) any reduction or increase of advance rates applicable to the Borrower Borrowing Base, (iii) the creation or elimination of any reserves against the Borrowing Base, and (iv) whether specific items of inventory or Receivables constitute "Eligible Inventory" or "Eligible Receivables," respectively, in accordance with the maximum aggregate principal outstanding balance definitions of more than such terms set forth in Article I. The Agent shall give prompt notice to the principal face amount Lenders of its Revolving Credit Noteany determinations made pursuant to clauses(ii) and (iii) above.

Making of Revolving Credit Loans. (a) Except as set forth in SECTION 2.17 and SECTION 2.25, Revolving Credit Loans (other than Swingline Loans) by the Revolving Credit Lenders shall be either Prime Rate Loans or LIBO Loans as the Lead Borrower on behalf of the Borrowers may request subject to and in accordance with this SECTION 2.03, provided, that all Swingline Loans shall be only Prime Rate Loans. All Revolving Credit Loans made pursuant to the same Borrowing shall, unless otherwise specifically provided herein, be Revolving Credit Loans of the same Type. Each Revolving Credit Lender may fulfill its Revolving Credit Commitment with respect to any Revolving Credit Loan by causing any lending office of such Revolving Credit Lender to make such Revolving Credit Loan; but any such use of a lending office shall not affect the obligation of the Borrowers to repay such Revolving Credit Loan in accordance with the terms of the applicable Note. Each Revolving Credit Lender shall, subject to its overall policy considerations, use reasonable efforts (but shall not be obligated) to select a lending office which will not result in the payment of increased costs by the Borrowers pursuant to SECTION 2.24. Subject to the terms other provisions of this SECTION 2.03 and conditions set forth the provisions of SECTION 2.25, Borrowings of Revolving Credit Loans of more than one Type may be incurred at the same time, but no more than six (6) Borrowings of LIBO Loans may be outstanding at any time. (b) The Lead Borrower shall give the Administrative Agent written notice in this Agreementthe form of Exhibit 2.03(b) a "Notice of Revolving Credit Extension") of each Borrowing. Any such notice, to be effective, must be received by the Administrative Agent not later than 2:00 p.m., New York time, on (i) the third Business Day in the case of LIBO Loans, and (ii) the Business Day of a proposed Borrowing of Prime Rate Loans. Such notice shall be irrevocable and shall specify the amount of the proposed Borrowing (which shall be in an integral multiple of $500,000, but not less than $1,000,000 in the case of LIBO Loans and not less than $100,000 in the case of Prime Rate Loans) and the date thereof (which shall be a Business Day) and shall contain disbursement instructions. Such notice shall specify whether the Borrowing then being requested is to be a Borrowing of Prime Rate Loans or LIBO Loans and, if LIBO Loans, the Interest Period with respect thereto. If no election of Interest Period is specified in any such notice for a Borrowing of LIBO Loans, such notice shall be deemed a request for an Interest Period of one (1) month. If no election is made as to the Type of Loan, such notice shall be deemed a request for Borrowing of Prime Rate Loans. The Administrative Agent shall promptly notify each Revolving Credit Lender of its proportionate share of such Borrowing, the date of such Borrowing, the Type of Borrowing being requested and the Interest Period or Interest Periods applicable thereto, as appropriate. On the borrowing date specified in such notice, each Revolving Credit Lender shall make its share of the Lenders severally agrees to lend Borrowing available at the office of the Administrative Agent at 000 Xxxxxxx 0, Norwalk, Connecticut 06851, no later than 1:00 p.m., New York time, in immediately available funds. Unless the Administrative Agent shall have received notice from a Revolving Credit Lender prior to the proposed date of any Borrowing that such Revolving Credit Lender will not make available to the Administrative Agent such Revolving Credit Lender's share of such Borrowing, the Administrative Agent may assume that such Revolving Credit Lender has made such share available on such date in accordance with this SECTION 2.03 and may, in reliance upon such assumption, make available to the Borrowers a corresponding amount. In such event, if a Revolving Credit Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Revolving Credit Lender and the Borrowers severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including, the date such amount is made available to the Borrowers to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Revolving Credit Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrowers, the interest rate applicable to Prime Rate Loans. If such Revolving Credit Lender pays such amount to the Administrative Agent, then such amount shall constitute such Revolving Credit Lender's Revolving Credit Loan included in such Borrowing. Upon receipt of the funds made available by the Revolving Credit Lenders to fund any Borrowing hereunder, the Administrative Agent shall disburse such funds into an account (each a "Disbursement Account") maintained by a Borrower, and in its name, at a bank acceptable to the Borrower may borrow (and repay and reborrow) Administrative Agent into which the Administrative Agent shall, from time to time between the Closing Date and the Maturity Date upon notice by the Borrower deposit proceeds of Revolving Credit Loans made to the Agent given Borrowers in accordance with §2.1(c), such sums as are requested the provisions of SECTION 5.12 or otherwise in the manner specified in the Notice of Revolving Credit Extension delivered by the Borrower for Lead Borrower. The Administrative Agent shall use reasonable efforts to make the purposes set forth in §7.19 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) the sum of such Lender’s Commitment and (ii) such Lender’s Percentage of the sum of (A) the Unencumbered Pool Availability minus (B) the sum of the amount of all outstanding Revolving Credit Loans, Swing Loans and Letter of Credit Liabilities and the Unsecured Debt; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of funds so received from the Revolving Credit Loans Lenders available to the Borrowers no later than 4:00 p.m., New York time. (c) The Administrative Agent, without the request of the Lead Borrower, may advance any interest, fee, service charge, or other payment to which the Administrative Agent or its Affiliates or any Lender is entitled from any Borrower pursuant hereto or any other Loan Document and may charge the same to the Loan Account notwithstanding that an Overadvance may result thereby. The Administrative Agent shall advise the Lead Borrower of any such advance or charge promptly after giving effect the making thereof and will endeavor, but not be obligated, to all amounts requested), Swing Loans and Letter furnish one (1) Business Day's notice prior to making any such advance or charge. Such action on the part of Credit Liabilities the Administrative Agent shall not at any time exceed the Total Commitment, and the outstanding principal amount constitute a waiver of the Revolving Credit Loans Administrative Agent's rights and each Borrower's obligations under SECTION 2.19 (after giving effect a). Any amount which is added to all amounts requested), Swing Loans, Letter of Credit Liabilities and the Unsecured Debt shall not at any time cause a violation principal balance of the covenants set forth Loan Account as provided in §8.1(a). The Revolving Credit Loans this SECTION 2.03(c) shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation bear interest at the interest rate then and warranty by the Borrower that all of the conditions required of the Borrower set forth in §9.1 and §9.2 have been satisfied on the date of such request. The Agent may assume that the conditions in §9.1 and §9.2 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation thereafter applicable to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit NotePrime Rate Loans.

Making of Revolving Credit Loans. On any Business Day when Borrowers desire that the Lender make a Revolving Credit Loan, Uni-Marts shall provide notice to the Lender by completing, executing and delivering to the Lender, by 12:00 noon New York time, a completed Loan Request, in the form attached as Exhibit "B" to this Agreement, and if no Borrowing Base Certificate has been delivered during the week during which such Borrowing Base Certificate is submitted, a Borrowing Base Certificate, in the form attached as Exhibit "C" to this Agreement, setting forth the borrowing base calculations for the each Borrower and the Borrowers taken as a whole, together with the appropriate supporting documentation and evidence and, if necessary to revise or update information provided in any remittance report required by the Lender on the Lender's standard form delivered by the Borrowers at Closing, a revised remittance report. Subject to the terms and conditions set forth in of this Agreement, each upon the Lender's review, approval and processing of the Lenders severally agrees to lend to Loan Request, the Borrower, Borrowing Base Certificate and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with §2.1(c), such sums as are any other information requested by the Borrower for Lender, the purposes set forth in §7.19 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to Lender shall make the lesser of (i) the sum of such Lender’s Commitment and (ii) such Lender’s Percentage of the sum of (A) the Unencumbered Pool Availability minus (B) the sum of the amount of all outstanding Revolving Credit Loans, Swing Loans and Letter of Credit Liabilities and the Unsecured Debt; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount proceeds of the Revolving Credit Loans (after giving effect Loan available to all amounts requested)the Borrowers at the Lender's Office, Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment, and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans, Letter of Credit Liabilities and the Unsecured Debt shall not at any time cause a violation of the covenants set forth in §8.1(a). The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions required of the Borrower set forth in §9.1 and §9.2 have been satisfied on the date of such request. The Agent may assume specified in the Loan Request in immediately available funds, provided that the conditions in §9.1 and §9.2 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender Uni-Marts shall have any obligation to make Revolving Credit Loans delivered to the Borrower in Lender the maximum aggregate principal outstanding balance of more Loan Request and any other information requested by the Lender no later than the principal face amount of its Revolving Credit Note12:00 noon prevailing New York time on such specified date.