Revolver Loans Clause Samples
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Revolver Loans. (a) The parties hereto acknowledge and agree that effective as of the Closing Date, to the extent the Existing Principal Obligations exceed the Tranche B Maximum Amount, the Existing Principal Obligations in the amount of such excess are hereby converted into Tranche A Revolver Loans outstanding hereunder (the “Converted Tranche A Revolver Loans”), without constituting a novation, and shall be allocated to each Tranche A Revolver Lender with a Tranche A Revolver Commitment such that after giving effect to such allocation, the amount of Tranche A Revolver Loans held by each Tranche A Revolver Lender is equal to such Tranche A Revolver Lender’s Pro Rata share of the Converted Tranche A Revolver Loans. To the extent such allocation results in losses or expenses to any Lender as a result of the prepayment of any LIBOR Loan on a date other than the scheduled last day of the applicable Interest Period, Borrower shall be responsible for such loss or expense pursuant to Section 3.9. Each Tranche A Revolver Lender agrees, severally on a Pro Rata basis up to its Tranche A Revolver Commitment, on the terms set forth herein, to make Tranche A Revolver Loans to Borrower from time to time through the Commitment Termination Date; provided that (i) no Tranche A Revolver Loan shall be made pursuant to this Section 2.1.1(a) at any time when the outstanding principal amount of the Tranche B Revolver Loan is less than the Tranche B Maximum Amount and (ii) the aggregate amount of Tranche A Revolver Loans and LC Obligations shall not exceed the Tranche A Revolver Commitments. The Tranche A Revolver Loans may be repaid and reborrowed as provided herein. In no event shall Tranche A Revolver Lenders have any obligation to honor a request for a Tranche A Revolver Loan if (x) the sum of the unpaid balance of Tranche A Revolver Loans outstanding at such time (including the requested Loan) would exceed an amount equal to the Aggregate Borrowing Base minus the Tranche B Borrowing Base or (y) the sum of the unpaid balance of Tranche A Revolver Loans outstanding at such time (including the requested Loan) plus the unpaid balance of Tranche B Revolver Loans outstanding at such time would exceed the Aggregate Borrowing Base.
(b) The parties hereto acknowledge and agree that effective as of the Closing Date, the Existing Principal Obligations in an amount up to the Tranche B Maximum Amount are hereby converted into Tranche B Revolver Loans outstanding hereunder (the “Converted Tranche B Rev...
Revolver Loans. Each Lender agrees, severally on a Pro Rata basis up to its Revolver Commitment, on the terms set forth herein, to make Revolver Loans to Borrowers from time to time through the Commitment Termination Date. The Revolver Loans may be repaid and reborrowed as provided herein. In no event shall Lenders have any obligation to honor a request for a Revolver Loan if the unpaid balance of Revolver Loans outstanding at such time (including the requested Loan) would exceed the Borrowing Base.
Revolver Loans. Each Lender agrees, severally to the extent of its Revolver Commitment and not jointly with the other Lenders, upon the terms and subject to the conditions set forth herein, to make Revolver Loans to Borrower on any Business Day during the period from the date hereof through the Business Day before the last day of the Original Term, not to exceed in aggregate principal amount outstanding at any time such Lender's Revolver Commitment at such time, which Revolver Loans may be repaid and reborrowed in accordance with the provisions of this Agreement; provided, however, that Lenders shall have no obligation to Borrower whatsoever to make any Revolver Loan on or after the Commitment Termination Date or if at the time of the proposed funding thereof the aggregate principal amount of all of the Revolver Loans and Pending Revolver Loans then outstanding exceeds, or would exceed after the funding of such Revolver Loan, the Borrowing Base. Each Borrowing of Revolver Loans shall be funded by Lenders on a Pro Rata basis in accordance with their respective Revolver Commitments (except for Fleet with respect to Settlement Loans). The Revolver Loans shall bear interest as set forth in SECTION 2.1 hereof. Each Revolver Loan shall, at the option of Borrower, be made or continued as, or converted into, part of one or more Borrowings that, unless specifically provided herein, shall consist entirely of Base Rate Loans or LIBOR Loans.
Revolver Loans. In addition, unless otherwise specifically provided in this Agreement, all references in the Loan Documents to U.S. Revolver Loans shall be deemed, as the context requires, to include references to U.S. Incremental Loans made pursuant to this Agreement. The U.S. Borrower shall have no obligation to offer to existing Lenders the opportunity to subscribe to the U.S. Incremental Facility, and no existing Lender will have an obligation to make a U.S. Incremental Loan unless and until it expressly commits to do so in writing. The U.S. Borrower shall have the right to cause the U.S. Incremental Loans to be made by a new Lender identified by the U.S. Borrower that is an Eligible Assignee and is reasonably acceptable to the Agent, provided that any such new Lender shall be required to comply with Section 13.3.
Revolver Loans. Lender agrees, on the terms set forth herein, to make Revolver Loans to Borrowers in an aggregate amount up to the Revolver Commitment, from time to time through the Commitment Termination Date. The Revolver Loans may be repaid and reborrowed as provided herein. In no event shall Lender have any obligation to honor a request for a Revolver Loan if Revolver Usage at such time plus the requested Revolver Loan would exceed the Borrowing Base.
Revolver Loans. (a) U.S.
Revolver Loans. Whenever any Borrower desires funding of a Borrowing of any Loans, the Administrative Borrower shall give the Agent a Notice of Borrowing. Such notice must be received by the Agent no later than 11:00 a.m. (Local Time) (i) on the Business Day of the requested funding date, in the case of Base Rate Loans and (ii) at least three Business Days prior to the requested funding date, in the case of Term SOFR Loans; provided, that, if the Administrative Borrower wishes to request Term SOFR Loans having an Interest Period other than one, three or six months in duration as provided in the definition of “Interest Period”, the applicable notice must be received by the Agent no later than 11:00 a.m. (Local Time) at least four Business Days prior to the requested funding date of Term SOFR Loans, whereupon the Agent shall give prompt notice to the Revolver Lenders of such request and determine whether the requested Interest Period is acceptable to all of them. No later than 11:00 a.m. (Local Time) three Business Days prior to the requested date of such Borrowing of Term SOFR Loans, the Agent shall notify the Administrative Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all of the Lenders. Notices received after 11:00 a.m. (Local Time) shall be deemed received on the next Business Day. Each Notice of Borrowing shall be irrevocable and shall specify (A) the amount of the Borrowing, (B) the requested funding date (which must be a Business Day), (C) whether the Borrowing is to be made as a Base Rate Loan or a Term SOFR Loan, and (D) in the case of Term SOFR Loans, the duration of the applicable Interest Period (which shall be deemed to be one month if not specified).
Revolver Loans. (a) U.S. Revolver Loans to the U.S. Borrower; European Revolver Loans to the European Borrower. Each U.S. Lender agrees, severally and not jointly with the other U.S. Lenders, upon the terms and subject to the conditions set forth herein, to make (i) U.S. Revolver Loans to the U.S. Borrower and (ii) so long as the applicable Specified Transaction Conditions have been satisfied with respect thereto, European Revolver Loans to the European Borrower, in each case, on any Business Day during the period from the Third Restatement Date to the U.S./European Revolver Commitment Termination Date, not to exceed in aggregate principal amount outstanding at any time, such U.S. Lender’s U.S./European Revolver Commitment at such time, which U.S./European Revolver Loans may be repaid and reborrowed in accordance with the provisions of this Agreement; provided, however, that such U.S. Lenders shall have no obligation to the U.S. Borrower or the European Borrower whatsoever to honor any request for a U.S. Revolver Loan or a European Revolver Loan, as applicable, (x) on or after the U.S./European Revolver Commitment Termination Date, (y) if the amount of the proposed U.S. Revolver Loan exceeds U.S. Availability on the proposed funding date for such U.S. Revolver Loan or (z) if the amount of the proposed European Revolver Loan exceeds the Maximum European Subline Amount on the proposed funding date for such European Revolver Loan. Each Borrowing of U.S./European Revolver Loans shall be funded by U.S. Lenders on a Pro Rata basis. The U.S./European Revolver Loans shall bear interest as set forth in Section 3.1. Each U.S. Revolver Loan shall, at the option of the U.S. Borrower, be made or continued as, or converted into, part of one or more Borrowings that, unless specifically provided herein, shall consist entirely of U.S. Base Rate Loans or LIBOR Loans. Each European Revolver Loan shall consist entirely of LIBOR Loans. The U.S./European Revolver Loans shall be repaid in accordance with the terms of this Agreement and shall be secured by all of the U.S./European Facility Collateral. Each U.S. Revolver Loan shall be funded in Dollars or, at the option of the U.S. Borrower, Euros and repaid in the same currency as the underlying U.S. Revolver Loan was made; provided, however, that the aggregate amount of U.S. Revolver Loans that may be denominated in Euros shall not exceed the Dollar Equivalent of $50,000,000 less the Dollar Equivalent of the outstanding U.S. LC Obligations (exc...
Revolver Loans. (a) Subject to and in reliance upon the terms, conditions, representations, and warranties in the Loan Documents, each Lender severally, but not jointly, agrees to make loans (each such Loan a "LOAN") to Borrower from time to time on any Business Day during the period from the Conditions Effective Date to the Maturity Date, in an aggregate amount not to exceed at any time outstanding the amount of such Lender's Pro Rata Share of one or more Borrowings under (i) the Acquisition Subfacility (further described in SECTION 2.01(b) below) not to exceed such Lender's Committed Sum under the Acquisition Subfacility, and (ii) the Working Capital/Distribution Subfacility (further described in SECTION 2.01(c) below) not to exceed, when aggregated with the Outstanding Amount of the L/C Obligations, such Lender's Committed Sum under the Working Capital/Distribution Subfacility. Such Borrowings may be repaid and reborrowed from time to time in accordance with the terms and provisions of the Loan Documents; PROVIDED THAT, each such Borrowing must occur on a Business Day and no later than the Business Day immediately preceding the Maturity Date.
(b) Loans under the Acquisition Subfacility shall be available to Borrower for the purposes set forth in SECTION 6.12(b). After giving effect to any Borrowing under the Acquisition Subfacility, the aggregate Outstanding Amount of all Loans under the Acquisition Subfacility shall not exceed the Acquisition Subfacility Commitment then in effect.
(c) Loans under the Working Capital/Distribution Subfacility shall be available to Borrower for the purposes set forth in SECTION 6.12(c); PROVIDED, HOWEVER, Borrowings under the Working Capital/Distribution Subfacility will be available to fund not more than $2,250,000 in Distribution Loans in any four (4) consecutive fiscal quarters. After giving effect to any Borrowing under the Working Capital/Distribution Subfacility, the aggregate Outstanding Amount of all Loans and L/C Obligations under the Working Capital/Distribution Subfacility shall not exceed the Working Capital/Distribution Subfacility Commitment then in effect.
Revolver Loans. In the event that Swing Lender is not obligated to make a Swing Loan, each Revolver Lender agrees, severally on a Pro Rata basis up to its Revolver Commitment, on the terms set forth herein, to make Revolver Loans to Borrowers from time to time through the Revolver Commitment Termination Date. The Revolver Loans may be repaid and reborrowed as provided herein. In no event shall Revolver Lenders have any obligation to honor a request for a Revolver Loan if Revolver Usage at such time plus the requested Loan would exceed the Revolver Borrowing Base. The Revolver Loans shall be made pursuant to a Borrowing Request, duly completed and given by a Responsible Officer of Administrative Borrower to Administrative Agent not later than 11:00 a.m. on the requested funding date. If any Revolver Lender shall not remit the full amount that it is required to make available to Administrative Agent in immediately available funds as and when required hereby and if Administrative Agent has made available to Borrowers such amount, then that Revolver Lender shall be obligated to immediately remit such amount to Administrative Agent, together with interest at the Defaulting Lender Rate for each day until the date on which such amount is so remitted. Notices received by the Administrative Agent after the applicable required time shall be deemed received on the next Business Day. Each Borrowing Request shall be irrevocable and shall specify (A) the borrowing amount, and (B) the requested funding date (which must be a Business Day). Unless otherwise sooner paid, any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other Loan Document with respect to Revolver Loans, which shall become due, shall be deemed a request for a Revolver Loan as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Revolver Loan under this Agreement, or any other Loan Document and such request shall be irrevocable.