Common use of NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS Clause in Contracts

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The obligations of each Bank to make Term Loans to the Borrower shall be in the proportion that such Bank's Term Loan Commitment bears to the Term Loan Commitments of all Banks to the Borrower, but each Bank's Term Loan to the Borrower shall never exceed its Term Loan Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments].

Appears in 3 contracts

Samples: Credit Agreement (Koppers Inc), Credit Agreement (Elgin National Industries Inc), Credit Agreement (Compudyne Corp)

AutoNDA by SimpleDocs

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The obligations of each Bank to make Term Loans to the Borrower shall be in the proportion that such Bank's ’s Term Loan Commitment bears to the Term Loan Commitments of all Banks to the Borrower, but each Bank's ’s Term Loan to the Borrower shall never exceed its Term Loan Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments].

Appears in 2 contracts

Samples: Credit Agreement (Koppers Inc), Credit Agreement (KI Holdings Inc.)

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The ------------------------------------------------------- obligations of each Bank to make a Term Loans Loan to the Borrower shall be in the proportion that such Bank's Term Loan Commitment bears to the Term Loan Commitments of all Banks to the Borrower, but each Bank's Term Loan to the Borrower shall never exceed its Term Loan Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [the Term Loan Commitments]Loans.

Appears in 2 contracts

Samples: Term Loan Facility (Mariner Post Acute Network Inc), Credit Agreement (Mariner Post Acute Network Inc)

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The obligations of each Bank to make Term Loans to the Borrower shall be in the proportion that such Bank's Term Loan A Commitment and Term Loan B Commitment bears to the Term Loan A Commitments and Term Loan B Commitments of all Banks to the Borrower, but each Bank's Term Loan A and Term Loan B to the Borrower shall never exceed its Term Loan A Commitment and Term Loan B Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make a Term Loans hereunder Loan A after December 31, 2000 or to make a Term Loan B after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments].

Appears in 1 contract

Samples: Credit Agreement (Linc Net Inc)

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The obligations of each Bank to make Term Loans to the Borrower shall be in the proportion that such Bank's ’s Term Loan Commitment bears to the Term Loan Commitments of all Banks to the Borrower, but each Bank's ’s Term Loan to the Borrower shall never exceed its Term Loan Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall make a single disbursement of the Term Loan proceeds on the Closing date and the Banks shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments].

Appears in 1 contract

Samples: Credit Agreement (Ii-Vi Inc)

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The obligations of each Bank to make a Term Loans Loan to the Borrower TEC shall be in the proportion that such Bank's Term Loan Commitment bears to the Term Loan Commitments of all Banks to the BorrowerTEC, but each Bank's Term Loan to the Borrower TEC shall never exceed its Term Loan Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, commitments and the Borrower TEC shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments]2.11.1.

Appears in 1 contract

Samples: Credit Agreement (Commercial Intertech Corp)

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The obligations of each Bank to make a Term Loans Loan to the Borrower shall be in the proportion that such Bank's Term Loan Commitment bears to the Term Loan Commitments of all Banks to the Borrower, but each Bank's Term Loan to the Borrower shall never exceed its Term Loan Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [the Term Loan Commitments]Loans.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Arch Coal Inc)

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The obligations of each Bank to make Term Loans to the Borrower shall be in the proportion that such Bank's Term Loan Commitment bears to the Term Loan Commitments of all Banks to the Borrower, but each Bank's Term Loan to the Borrower shall never exceed its Term Loan Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 2.12 [Term Loan Commitments].

Appears in 1 contract

Samples: Credit Agreement (Arch Coal Inc)

AutoNDA by SimpleDocs

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The obligations of each Bank to make Term Loans to the Borrower shall be in the proportion that such Bank's Term Loan Commitment bears to the Term Loan Commitments of all Banks to the Borrower, but each Bank's Term Loan to the Borrower shall never exceed its Term Loan Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on to any other Bank hereunder. The Banks shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, commitments and the Borrower shall not have the right to borrow, repay and or reborrow under Section 3.1 [Term Loan Commitments]3.1.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Federated Investors Inc /Pa/)

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The obligations of each Bank to make Term Loans to the Borrower shall be in the proportion that such Bank's Term Loan Commitment bears to the Term Loan Commitments of all Banks to the Borrower, but each Bank's Term Loan to the Borrower shall never exceed its Term Loan Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make Term Loans hereunder after the Closing Third Amendment Effective Date. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments].

Appears in 1 contract

Samples: Credit Agreement (Freemarkets Inc)

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The obligations of each Bank to make Term Loans to the Borrower shall be in the proportion that such Bank's Term Loan Commitment with respect to each of Term Loan A, Term Loan B and Term Loan C, respectively, bears to the Term Loan Commitments of all Banks to the BorrowerBorrower with respect to each of Term Loan A, Term Loan B and Term Loan C, respectively, but each Bank's Term Loan to the Borrower shall never exceed its Term Loan Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Borrower shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments]Loans.

Appears in 1 contract

Samples: Credit Agreement (Orius Corp)

NATURE OF BANKS' OBLIGATIONS WITH RESPECT TO TERM LOANS. The obligations of each Bank to make Term Loans to the Borrower Borrowers shall be in the proportion that such Bank's Term Loan Commitment bears to the Term Loan Commitments of all Banks to the BorrowerBorrowers, but each Bank's Term Loan to the Borrower Borrowers shall never exceed its Term Loan Commitment. The failure of any Bank to make a Term Loan shall not relieve any other Bank of its obligations to make a Term Loan nor shall it impose any additional liability on any other Bank hereunder. The Banks shall have no obligation to make Term Loans hereunder after the Closing Date. The Term Loan Commitments are not revolving credit commitments, and the Borrower Borrowers shall not have the right to borrow, repay and reborrow under Section 3.1 [Term Loan Commitments].

Appears in 1 contract

Samples: Senior Secured Revolving Credit Facility and Term Loan Credit Agreement (Res Care Inc /Ky/)

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