Common use of Revolver Facilities Clause in Contracts

Revolver Facilities. (a) On the Closing Date, subject to the terms and conditions contained in this Agreement, the Lenders agree to establish in favor of the Borrower reducing revolving credit facilities (the "Revolvers") in the aggregate principal amount of $180,000,000, allocated among the Lenders as set forth in Schedule 1.01(a) (collectively, in either case, as reduced pursuant to Section 1.01(e) and subject to Section 1.01(b), the "Commitments" and, with respect to each Lender's allocation of the Revolvers, its "Commitment"), which shall expire on December 31, 2003 (such date, or such earlier date as the Commitments shall expire or be terminated hereunder, being referred to herein as the "Expiration Date"). (b) The Lenders shall have no obligation to make any loans under the Commitments (the "Loans") if, after giving effect to such Loans, the sum of (A) the aggregate amount of all outstanding Loans plus (B) the Letter of Credit Exposure plus (C) that portion of the Permitted Seller Debt Outstandings not secured by Letters of Credit (such sum being referred to herein as the "Aggregate Exposure") would exceed the aggregate Commitments then in effect. For purposes of this Agreement, the term "Available Commitments" shall mean, at any time, the aggregate amount of the Commitments then in effect minus the Letter of Credit Exposure minus that portion of the Permitted Seller Debt Outstandings not secured by Letters of Credit.

Revolver Facilities. (a) On the Closing Date, subject to the terms and conditions contained in this Agreement, the Lenders agree to establish in favor of the Borrower reducing revolving credit facilities (the "Revolvers") in the aggregate principal amount of $180,000,000225,000,000, allocated among the Lenders as set forth in Schedule 1.01(a) (collectively, in either case, as reduced pursuant to Section 1.01(e) and subject to Section Sections 1.01(b)) and to assignments under Article XII, the "Commitments" and, with respect to each Lender's allocation of the Revolvers, its "Commitment"), which shall expire on December October 31, 2003 2004 (such date, or such earlier date as the Commitments shall expire or be terminated hereunder, being referred to herein as the "Expiration Date"). (b) The Lenders shall have no obligation to make any loans under the Commitments (the "Revolving Loans") if, after giving effect to such Revolving Loans, the sum of (A) the aggregate amount of all outstanding Revolving Loans plus (B) the Commitment Reserve plus (C) the Letter of Credit Exposure plus (CD) that portion of the Permitted Seller Debt Outstandings not secured by Letters of Credit (such sum being referred to herein as the "Aggregate Exposure") would exceed the aggregate Commitments then in effect. For purposes of this Agreement, the term "Available Commitments" shall mean, at any time, the aggregate amount of the Commitments then in effect minus the Commitment Reserve, if any, minus the Letter of Credit Exposure minus that portion of the Permitted Seller Debt Outstandings not secured by Letters of Credit.

Revolver Facilities. (a) On the Closing Date, subject to the terms and conditions contained in this Agreement, the Revolver Lenders agree to establish in favor of the Borrower reducing revolving credit facilities (the "Revolvers") in the aggregate principal amount of $180,000,00090,000,000, allocated among the Revolver Lenders as set forth in Schedule 1.01(a) (collectively, in either case, as reduced pursuant to Section 1.01(e1.01(f) and 1.07 and subject to Section 1.01(b1.01(c), the "Revolver Commitments" and, with respect to each Revolver Lender's allocation of the Revolvers, its "Revolver Commitment"), which shall expire on December 31June 30, 2003 (such date, or such earlier date as the Revolver Commitments shall expire or be terminated hereunder, being referred to herein as the "Expiration Date"). (b) Borrowings under the Revolver Commitments shall not be available until the Term Loans referred to below have been disbursed in full. (c) The Revolver Lenders shall have no obligation to make any loans under the Revolver Commitments (the "Revolving Loans") if, after giving effect to such Revolving Loans, the sum of (A) the aggregate amount of all outstanding Revolving Loans plus (B) the Letter of Credit Exposure plus (C) that portion of the Permitted Seller Debt Pioneer Outstandings not secured by Letters of Credit (such sum being referred to herein as the "Aggregate Exposure") would exceed the aggregate Revolver Commitments then in effect. For purposes of this Agreement, the term "Available Revolver Commitments" shall mean, at any time, the aggregate amount of the Revolver Commitments then in effect minus the Letter of Credit Exposure minus that portion of the Permitted Seller Debt Outstandings not secured by Letters of CreditPioneer Outstandings.

Revolver Facilities. (a) On the Closing Date, subject to the terms and conditions contained in this Agreement, the Lenders agree to establish in favor of the Borrower reducing revolving credit facilities (the "RevolversREVOLVERS") in the aggregate principal amount of $180,000,00030,000,000, allocated among the Lenders as set forth in Schedule 1.01(aSCHEDULE 1.01(A) (collectively, in either case, as reduced pursuant to Section 1.01(e) SECTION 1.02 and subject to Section 1.01(b)1.06, the "CommitmentsCOMMITMENTS" and, with respect to each Lender's allocation of the Revolvers, its "CommitmentCOMMITMENT"), which shall expire on December March 31, 2003 (such date, or such earlier date as the Commitments shall expire or be terminated hereunderthereunder, being referred to herein as the "Expiration DateEXPIRATION DATE"). (b) The borrowings under this SECTION 1.01 shall be evidenced by the Borrower's Reducing Revolving Credit Notes, each in the form attached hereto as SCHEDULE 1.01(B) (together with any additional Reducing Revolving Credit Notes issued to any assignee(s) of the Commitments under ARTICLE XIII or otherwise issued in substitution therefor or replacement thereof, the "Notes"). The Notes are hereby incorporated by reference herein and made a part hereof. (c) The aggregate principal amount of loans made by the Lenders under the Commitments (collectively, the "LOANS") as requested in any Loan Request shall be (i) at least $500,000 and, if more, an integral multiple of $100,000, in the case of LIBOR Loans, and $100,000, and, if more, an integral multiple thereof, in the case of Base Rate Loans, or (ii) such lesser amount as equals the then unadvanced portion of the aggregate Commitments. The Lenders shall have no obligation to make any loans under Loans to the Commitments (the "Loans") Borrower if, after giving effect to such Loansthereto, the sum of (A) outstanding principal balance under the aggregate amount of all outstanding Loans plus (B) the Letter of Credit Exposure plus (C) that portion of the Permitted Seller Debt Outstandings not secured by Letters of Credit (such sum being referred to herein as the "Aggregate Exposure") Notes would exceed the aggregate Commitments then in effectAvailable Commitments. For purposes From the Closing Date to and including the Expiration Date and within the limits of this Agreementthe aggregate Available Commitments, the term "Available Commitments" shall meanBorrower may borrow, at any time, the aggregate amount of the Commitments then in effect minus the Letter of Credit Exposure minus that portion of the Permitted Seller Debt Outstandings not secured by Letters of Creditrepay and reborrow under this SECTION 1.01.