Revolving Availability. After giving effect to the transactions contemplated hereby, including the Owl Rock Payoff, the amount of the Outstanding Revolving Credit shall not exceed $0.00.
Revolving Availability. After giving effect to all Credit Extensions occurring on the Closing Date, the aggregate unused Revolving Commitments shall exceed the aggregate amount of all Revolving Outstandings by at least $10,000,000.
Revolving Availability. From and after the Closing Date and until the Maturity Date, Borrowers may borrow, and subsequently repay and reborrow, amounts constituting Revolving Loan Proceeds (including amounts in the Xxxxxxxxxx Holdback to the extent applicable) under this Agreement, so long as (x) the principal amount of the Loan outstanding as Revolving Loan Proceeds at any time does not exceed the Revolving Availability (provided that during the Xxxxxxxxxx Lease Holdback Period, advances from the Xxxxxxxxxx Holdback constituting a portion of the Revolving Availability shall be reserved for the purposes set forth below except to the extent such amounts have been previously advanced from the Xxxxxxxxxx Holdback and repaid in accordance with the terms of this Agreement), and (y) the outstanding principal balance of the Loan (including the principal amount of the Term Loan outstanding) does not exceed the amount of the Aggregate Commitments; provided, however, during the Xxxxxxxxxx Lease Holdback Period, a portion of the Revolving Loan Proceeds equal to Twenty-Five Million Dollars ($25,000,000.00) (the “Xxxxxxxxxx Holdback”) shall be held-back and reserved for advances to pay or reimburse Borrower for costs and expenses for tenant improvements, tenant allowance or any other work required pursuant to the terms of the Xxxxxxxxxx Lease. For avoidance of doubt, any proceeds advanced from the Xxxxxxxxxx Holdback may be repaid and re-borrowed (subject to the satisfaction and compliance with the Revolving Loan Proceeds Disbursement Conditions defined below) as part of the Revolving Availability. Borrowers shall pay to Administrative Agent, for the ratable benefit of the Lenders, within five (5) days of written Notice from Administrative Agent, any amount necessary to comply with the preceding sentence. Revolving Loan Proceeds shall be disbursed to Borrower (but not more frequently than three (3) disbursements per month), subject to the following terms and conditions (collectively, the “Revolving Loan Proceeds Disbursement Conditions”):
(i) no Default or Potential Default shall exist; and
(ii) Administrative Agent shall have received Draw Request signed by an Authorized Signer; and
(iii) Administrative Agent shall not have suspended (or such suspension, if any, shall not then exist) the disbursements of Revolving Loan Proceeds for a failure of the Properties to satisfy the Ongoing Debt Service Coverage Ratio in accordance with Section 4.22; and
(iv) Borrowers’ representations and warranties...
Revolving Availability. Permit Revolving Availability, at any time, to be less than ten percentthe greater of (x) $30,000,000, and (y) 10.0%) of the AdjustedSpecified Combined Loan Cap.
Revolving Availability. Prior to the applicable Maturity Date, the Outstanding Principal under each of the Syndicated Facility and the Operating Facility may revolve and the Borrower may borrow, repay and re-borrow Cdn. Dollars or U.S. Dollars and may issue, repay and re-issue Bankers’ Acceptances thereunder, and may under the Operating Facility only, request the issuance of Letters of Credit, in each case in accordance with the terms of this Agreement.
Revolving Availability. At any time, the amount by which the Total Revolving Credit Commitments at such time exceeds the aggregate Revolving Credit Exposures of all Revolving Lenders at such time.
Revolving Availability. After giving effect to all Credit Extensions occurring on the Closing Date, the aggregate unused Revolving Commitments shall exceed the aggregate amount of all Revolving Outstandings by at least $40,000,000. The documents referred to in this Section 4.01 shall be delivered to the Administrative Agent no later than the Closing Date. The certificates and opinions referred to in this Section 4.01 shall be dated the Closing Date.
Revolving Availability. After giving effect to all Credit Events occurring on the Restatement Effective Date, the aggregate unused Revolving Commitments shall exceed the aggregate amount of all Revolving Outstandings by at least $15,000,000.
Revolving Availability. Permit Revolving Availability at any time to be less than ten percent (10%) of the Adjusted Combined Loan Cap.
Revolving Availability. With respect to any request for a Credit Extension under the Revolving Facility, upon giving effect to the Credit Extension so requested, the aggregate total Revolving Credit Exposure of all of the Lenders shall not exceed the lesser of (A) the Aggregate Revolving Commitments in effect as of the date of such Credit Extension and (B) the Borrowing Base in effect as of the date of such Credit Extension. Each Borrowing Request by the Borrower delivered hereunder and each Credit Extension shall be deemed to constitute a representation and warranty by the Borrower on and as of the date of the applicable Credit Extension that the matters and conditions specified in this Section 4.2 have been satisfied on and as of the date of such Borrowing Request.
