New Revolving Loans Sample Clauses

New Revolving Loans. (a) Subject to the terms and conditions of this subsection 2.1.2, at any time and from time to time but prior to the Maturity Date, by written notice (each, a "Commitment Increase Notice") to Bank, Borrower may elect to request an increase in the aggregate amount of the existing Revolving Loan Commitment (any such increase, the "New Revolving Loan Commitment") by an amount not in excess of $10,000,000 in the aggregate and not less than $1,000,000 in any individual request (or such lesser amount which shall be approved by Bank or such lesser amount that shall constitute the difference between $10,000,000 and all such New Revolving Loan Commitments obtained prior to such date) and integral multiples of $1,000,000 in excess of that amount. Each Commitment Increase Notice shall specify (i) the date (each, an "Increased Revolving Loan Amount Date") on which Borrower proposes that the New Revolving Loan Commitment shall be effective, which shall be a date not less than (A) ten (10) Business Days after the date on which such Commitment Increase Notice is delivered to Bank if Bank agrees to provide such New Revolving Loan Commitment and (ii) twenty (20) Business Days after the date on which such Commitment Increase Notice is delivered to Bank if Bank declines to provide such New Revolving Loan Commitment and one or more financial institutions other than Bank (each, a "New Bank") agree to provide such New Revolving Loan Commitment and (ii) the identity of each New Bank to whom Borrower proposes any portion of such New Revolving Loan Commitments, as applicable, be allocated and the amounts of such allocations. Borrower first shall offer the New Revolving Loan Commitment to Bank and Borrower shall accept any New Revolving Loan Commitment which Bank elects to provide. Bank and each New Bank may elect or decline, in its sole discretion, to provide a New Revolving Loan Commitment. In the event Bank declines to provide all or any portion of such New Revolving Loan Commitment, Bank shall have approved each New Bank which is to provide a New Revolving Loan Commitment. In the event of any oversubscription for any New Revolving Loan Commitment Bank shall determine the final allocation amounts. Such New Revolving Loan Commitment shall become effective as of such Increased Revolving Loan Amount Date; PROVIDED THAT (1) no Incipient Default or Event of Default shall exist on such Increased Revolving Loan Amount Date before or after giving effect to such New Revolving Loan Commit...
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New Revolving Loans. (a) Subject to the terms and conditions set forth herein and in the Amended Credit Agreement, each New Revolving Lender severally and not jointly agrees to provide its New Revolving Commitment to the Borrower on the Fourth Amendment Effective Date in an aggregate principal amount not to exceed the amount set forth opposite such New Revolving Lender’s name on Schedule II hereto. Amounts borrowed under this Section 4(a) and may be repaid or prepaid and reborrowed, in accordance with the terms of the Credit Agreement. The Borrower shall give notice to the Administrative Agent of the proposed Fourth Amendment Effective Date no later than one Business Day prior thereto, and the Administrative Agent shall notify each New Revolving Lender thereof.
Sample 1
New Revolving Loans. (a) Subject to the terms and conditions and relying upon the representations and warranties herein set forth, each Lender agrees, severally and not jointly, to make New Revolving Loans in dollars to the Borrower, at any time and from time to time during the New Revolving Credit Availability Period, in an aggregate principal amount at any one time outstanding not to exceed the excess, if any, of (i) the applicable Dollar Amount of such Lender's New Revolving Credit Commitment set forth in Schedule 2.02(a), at such time over (ii) the Dollar Amount of such Lender's New Revolving Credit Exposure and Existing Letter of Credit Exposure at such time.
Sample 1
New Revolving Loans. (i) Subject to the satisfaction (or waiver) of the conditions set forth in Section 2 hereof and in reliance upon the representations and warranties set forth in Section 3 hereof, each New Revolving Lender and each Increasing Revolving Lender severally, but not jointly, hereby agrees to establish New Revolving Commitments on the Seventh Amendment Effective Date such that, after giving effect to the establishment of such New Revolving Commitments, the total Revolving Commitment of such New Revolving Lender or such Increasing Revolving Lender, as applicable, will be the amount set forth opposite the name of such New Revolving Lender or such Increasing Revolving Lender, as applicable, on Schedule I hereto. The (x) New Revolving Commitments shall comprise a single Class with the 2017 Initial Revolving Commitments and (y) if and when Revolving Loans are incurred under the New Revolving Commitments, such Revolving Loans shall comprise a single Class with the 2017 Initial Revolving Loans, in each case, with terms and provisions identical to the 2017 Initial Revolving Commitments and 2017 Initial Revolving Loans, as applicable (including without limitation ranking pari passu in right of payment and of security and maturing on the same date).
Sample 1
New Revolving Loans. Each Lender severally agrees, subject to the limitations set forth below with respect to the maximum amount of New Revolving Loans permitted to be outstanding from time to time, to lend to Company from time to time during the period from the Third Amendment Effective Date to but excluding the Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the New Revolving Loan Commitments to be used for the purposes identified in subsection 2.5B. The aggregate original amount of the New Revolving Loan Commitments is $70,000,000; provided that the New Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the New Revolving Loan Commitments pursuant to subsection 10.1B; and provided, further that the amount of the New Revolving Loan Commitments shall be reduced from time to time by the amount of any reductions thereto made pursuant to subsection 2.4B(ii). Each Lender’s New Revolving Loan Commitment shall expire on the Revolving Loan Commitment Termination Date and all New Revolving Loans and all other amounts owed hereunder with respect to the New Revolving Loans and the New Revolving Loan Commitments shall be paid in full no later than that date. Amounts borrowed under this subsection 2.1A(iv)(b) may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement to the contrary notwithstanding, the New Revolving Loans and the New Revolving Loan Commitments shall be subject to the limitation that in no event shall the Total Utilization of Revolving Loan Commitments at any time exceed the New Revolving Loan Commitments then in effect.”.
Sample 1

Related to New Revolving Loans

  • The Revolving Loans (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Loans to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate outstanding amount not to exceed at any time such Lender’s Available Commitment at such time. Within the limits of each Lender’s Commitment and as hereinabove and hereinafter provided, including without limitation Section 2.01(b), the Borrower may request a Borrowing hereunder, and repay or prepay Revolving Loans pursuant to Section 2.14 and utilize the resulting increase in the Available Commitments for further Extensions of Credit in accordance with the terms hereof.

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Revolving Loan Borrowings (i) Each Borrowing of Revolving Loans shall be made on notice given by a Borrower to the Revolving and LC Administrative Agent not later than 11:00 a.m. (New York time) (A) on the Business Day of the proposed Borrowing, in the case of a Borrowing of Base Rate Loans and (B) three Business Days prior to the date of the proposed Borrowing, in the case of a Borrowing of Eurodollar Rate Loans. Each such notice shall be in substantially the form of Exhibit C-2 (a “Notice of Revolving Borrowing”) (or shall be made by telephone and the same information shall be confirmed promptly thereafter in writing), specifying (1) the date of such proposed Borrowing, (2) the aggregate amount of such proposed Borrowing, (3) whether any portion of the proposed Borrowing will be of Base Rate Loans or Eurodollar Rate Loans, (4) the initial Interest Period or Interest Periods for any such Eurodollar Rate Loans, and (5) remittance instructions. The Revolving Loans shall be made as Base Rate Loans unless, subject to Section 2.17, the Notice of Revolving Borrowing specifies that all or a portion thereof shall be Eurodollar Rate Loans. Each Borrowing of Revolving Loans shall be in an aggregate amount that is an integral multiple of $1,000,000.00 (or $500,000.00 with respect to Swing Loans) and shall be allocated ratably in accordance with each Revolving Lender’s Revolving Commitment.

  • The Revolving Credit Loans Subject to the terms and conditions set forth herein, each Revolving Credit Lender severally agrees to make loans (each such loan, a “Revolving Credit Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate principal amount not to exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any such Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility, and (ii) the Revolving Credit Exposure of any Lender shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

  • Making Revolving Credit Loans The Administrative Agent shall, promptly after receipt by it of a Loan Request pursuant to Section 2.5 [Revolving Credit Loan Requests; Swing Loan Requests], notify the Lenders of its receipt of such Loan Request specifying the information provided by the Borrower and the apportionment among the Lenders of the requested Revolving Credit Loans as determined by the Administrative Agent in accordance with Section 2.2 [Nature of Lenders’ Obligations with Respect to Revolving Credit Loans]. Each Lender shall remit the principal amount of each Revolving Credit Loan to the Administrative Agent such that the Administrative Agent is able to, and the Administrative Agent shall, to the extent the Lenders have made funds available to it for such purpose and subject to Section 7.2 [Each Loan or Letter of Credit], fund such Revolving Credit Loans to the Borrower in U.S. Dollars and immediately available funds at the Principal Office prior to 2:00 p.m., on the applicable Borrowing Date; provided that if any Lender fails to remit such funds to the Administrative Agent in a timely manner, the Administrative Agent may elect in its sole discretion to fund with its own funds the Revolving Credit Loans of such Lender on such Borrowing Date, and such Lender shall be subject to the repayment obligation in Section 2.6.2 [Presumptions by the Administrative Agent].

  • Revolving Loan Commitments Lender will make loans to Borrower on a revolving basis (“Revolving Loans”) from time to time and Borrower may repay such loans from time to time until the Termination Date in such amounts as Borrower may request from Lender; provided, that after giving effect to such Revolving Loans, the Revolving Loans outstanding will not at any time exceed the Borrowing Availability.

  • Revolving Credit Loans The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate Lenders on the applicable Maturity Date for the Revolving Credit Facilities of a given Class the aggregate principal amount of all of its Revolving Credit Loans of such Class outstanding on such date.

  • Procedure for Advances of Revolving Credit Loans and Swingline Loans Section 2.4 Repayment and Prepayment of Revolving Credit and Swingline Loans

  • Funds for Revolving Credit Loans (a) Subject to the other provisions of this §2, not later than 11:00 a.m. (Cleveland, Ohio time) on the proposed Drawdown Date of any Revolving Credit Loan, each of the Lenders will make available to the Agent, at the Agent’s Head Office, in immediately available funds, the amount of such Lender’s Commitment Percentage of the amount of the requested Revolving Credit Loan. Upon receipt from each Lender of such amount, the Agent will make available to the Borrower the aggregate amount of such Revolving Credit Loan made available to the Agent by the Lenders. All such funds received by the Agent by 11:00 a.m. (Cleveland, Ohio time) on any Business Day will be made available to the Borrower not later than 2:00 p.m. on the same Business Day; funds received after such time will be made available by not later than 11:00 a.m. on the next Business Day. The failure or refusal of any Lender to make available to the Agent at the aforesaid time and place on any Drawdown Date the amount of its Commitment Percentage of the requested Revolving Credit Loan shall not relieve any other Lender from its several obligation hereunder to make available to the Agent the amount of its Commitment Percentage of any requested Revolving Credit Loan but in no event shall the Agent (in its capacity as Agent) have any obligation to make any funding or shall any Lender be obligated to fund more than its Commitment Percentage of the requested Revolving Credit Loan or to increase its Commitment Percentage on account of such failure or otherwise.

  • Revolving Loan Notes The Revolving Loans made by the Lenders to a Borrower shall be evidenced, upon request by any Lender, by a promissory note of such Borrower payable to each Lender in substantially the form of Exhibit 2.7(a) hereto (the “Revolving Loan Notes”) and in a principal amount equal to the amount of such Lender’s Commitment Percentage of the Revolving Loan Commitment as originally in effect.

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