Reductions of Revolving Exposure. In the event and on each occasion that the aggregate principal amount of all Revolving Loans and all Swing Line Loans outstanding at such time exceeds the lesser of (A) the Maximum Credit and (B) the Borrowing Base then in effect, the Borrower shall prepay Swing Line Loans and Revolving Borrowings (or, if no such Loans or Borrowings are outstanding, deposit Cash Collateral in accordance with Section 2.4(l)) in an aggregate amount equal to such excess.
Appears in 4 contracts
Samples: Credit and Guaranty Agreement (QualTek Services Inc.), Credit and Guaranty Agreement (QualTek Services Inc.), Credit and Guaranty Agreement (QualTek Services Inc.)
Reductions of Revolving Exposure. In the event and on each occasion that the sum of (i) the aggregate principal amount of all Revolving Loans and all Swing Line Loans outstanding at such time and (ii) the Letter of Credit Usage at such time exceeds the lesser of (A) the Maximum Credit and (B) the Borrowing Base then in effectLine Cap, the Borrower shall prepay Swing Line Loans and Revolving Borrowings (or, if no such Loans 1095171012\7\AMERICAS or Borrowings are outstanding, deposit Cash Collateral in accordance with Section 2.4(l2.3(h)) in an aggregate amount equal to such excess.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (PetIQ, Inc.), Credit and Guaranty Agreement (PetIQ, Inc.)
Reductions of Revolving Exposure. In the event and on each occasion that the sum of (i) the aggregate principal amount of all Revolving Loans and all Swing Line Loans outstanding at such time and (ii) the Letter of Credit Usage at such time exceeds the lesser of (A) the Maximum Credit and (B) the Borrowing Base then in effect, the Borrower shall prepay Swing Line Loans and Revolving Borrowings (or, if no such Loans or Borrowings are outstanding, deposit Cash Collateral in accordance with Section 2.4(l2.4(h)) in an aggregate amount equal to such excess.
Appears in 1 contract
Reductions of Revolving Exposure. In the event and on each occasion that the aggregate principal amount of all Revolving Loans and all Swing Line Loans outstanding at such time exceeds the lesser of (A) the Maximum DMFIRM #406105327 v2 101 Credit and (B) the Borrowing Base then in effect, the Borrower shall prepay Swing Line Loans and Revolving Borrowings (or, if no such Loans or Borrowings are outstanding, deposit Cash Collateral in accordance with Section 2.4(l)) in an aggregate amount equal to such excess.
Appears in 1 contract
Samples: Credit and Guaranty Agreement (QualTek Services Inc.)
Reductions of Revolving Exposure. In the event and on each occasion that the aggregate principal amount of all Revolving Loans and all Swing Line Loans outstanding at such time exceeds the lesser of (A) the Maximum Credit and (B) the Borrowing Base then in effect, the Borrower shall prepay Swing Line Loans and Revolving Borrowings (or, if no such Loans or Borrowings are outstanding, deposit Cash Collateral in accordance with Section 2.4(l)) in an aggregate amount equal to such excess.. 116
Appears in 1 contract
Samples: Abl Credit and Guaranty Agreement (QualTek Wireline LLC)
Reductions of Revolving Exposure. In the event and on each occasion that the aggregate principal amount of all Revolving Loans and all Swing Line Loans outstanding at such time exceeds the lesser of (A) the Maximum Credit and (B) the Borrowing Base then in effect, the Borrower shall prepay Swing Line Loans and Revolving Borrowings (or, if no such Loans or Borrowings are outstanding, deposit Cash Collateral in accordance with Section 2.4(l)) in an aggregate amount equal to such excess.. (b)
Appears in 1 contract
Samples: Credit and Guaranty Agreement (QualTek Services Inc.)
