Common use of Money Market Borrowings Clause in Contracts

Money Market Borrowings. (i) The Money Market Option. In addition to Committed Borrowings ----------------------- pursuant to Section 2.1(a) and Section 2.3 hereof, the Borrower may, as set forth in this Section 2.1(c), request the Banks at any time or from time to time during the Term to make offers to make Money Market Loans to the Borrower, not to exceed, at such time, the Available Facility (adjusted pro rata for changes in the aggregate Commitments) less all Loans then outstanding (excluding any Loans or any portion thereof to be repaid from the proceeds of such Money Market Loans). The Banks may, but shall have no obligation to, make such offers and the Borrower, as the case may be, may, but shall have no obligation to, accept any such offers in the manner set forth in this Section.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Cabot Industrial Properties Lp), Revolving Credit Agreement (Cabot Industrial Trust)

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Money Market Borrowings. (ia) The Money Market Option. In addition to Committed Borrowings ----------------------- pursuant to Section 2.1(a) and Section 2.3 hereof2.01, the Borrower may, as set forth in this Section 2.1(c)Section, request the Banks at any time or from time to time during the Term term of the Loans to make offers to make Money Market Loans to the Borrower, not to exceed, at such time, the lesser of (i) the Total Available Facility Commitments and (adjusted pro rata for changes in the aggregate Commitmentsii) less all Loans then outstanding (excluding any Loans or any portion thereof to be repaid from the proceeds of such Money Market Loans)$175,000,000. The Banks may, but shall have no obligation to, make such offers and the Borrower, as the case may be, Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section.

Appears in 1 contract

Samples: Revolving Credit Agreement (Security Capital Atlantic Inc)

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