Revolving B Loans. Subject to the terms and conditions set forth herein, each Revolving B Lender severally agrees to make loans (each such loan, a “Revolving B Loan”) to the Revolving A/B Borrowers in Dollars or in one or more Alternative Currencies from time to time on any Business Day during the Availability Period for the Revolving B Commitments in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount of the Revolving B Loans of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, and (iii) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments. Each Revolving B Lender may, at its option, make any Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary by causing any foreign or domestic branch or Affiliate of such Lender to make such Revolving B Loan; provided that any exercise of such option shall not affect the obligation of such Revolving A/B Borrower to repay such Revolving B Loan in accordance with the terms of this Agreement. Within the limits of each Lender’s Revolving B Commitment, and subject to the other terms and conditions hereof, the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B Loans may be Base Rate Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans or a combination thereof, as further provided herein (provided that Lux 2 may not borrow Base Rate Loans).
Appears in 2 contracts
Sources: Credit Agreement (Corpay, Inc.), Credit Agreement (Fleetcor Technologies Inc)
Revolving B Loans. Subject Each Revolving B Loan Lender severally agrees, subject to the terms and conditions limitations set forth hereinbelow in the last sentence hereof, each Revolving B Lender severally agrees to make loans (each such loan, a “Revolving B Loan”) lend to the Revolving A/B Borrowers in Dollars or in one or more Alternative Currencies Company from time to time on any Business Day during the Availability Period for period from the Second Amendment Effective Date to the Revolving B Commitments in Loan Commitment Termination Date an aggregate amount not to exceed at any time outstanding the amount exceeding its Pro Rata Share of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount amount of the Revolving B Loans Loan Commitment to be used for the purposes identified in subsection 2.5F. The amount of each Revolving B Loan Lender's Revolving B Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate amount of the Revolving B Loan Commitments as of the Second Amendment Effective Date is $30,000,000; provided that the Revolving B Loan Commitment of Lenders shall be adjusted to give effect to any assignments of the Revolving B Loan Commitment pursuant to subsection 10.1B; and provided further, that the Revolving B Loan Commitment shall be reduced from time to time by the amount of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, reductions thereto made pursuant to subsections 2.4B(ii) and (iii) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments2.4B(iii). Each Revolving B Lender may, at its option, make any Loan Lender's Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary by causing any foreign or domestic branch or Affiliate of such Lender to make such Commitment shall expire on the Revolving B LoanLoan Commitment Termination Date and all Revolving B Loans and all other amounts owed hereunder with respect to the Revolving B Loans and the Revolving B Loan Commitments shall be paid in full no later than that date. Amounts borrowed under this subsection 2.1A(vii) may be repaid and reborrowed to but excluding the Revolving B Loan Commitment Termination Date; provided that from June 16, 2002 through January 31, 2003 and from June 16, 2003 through January 31, 2004, the Company may not have any exercise of such option shall not affect the obligation of such Revolving A/B Borrower to repay such outstanding Revolving B Loan Loans.
B. Subsection 2.4A of the Credit Agreement is hereby amended by deleting it in accordance with its entirety and substituting the terms of this Agreement. Within the limits of each Lender’s Revolving B Commitment, and subject to the other terms and conditions hereof, the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B Loans may be Base Rate Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans or a combination thereof, as further provided herein (provided that Lux 2 may not borrow Base Rate Loans).following therefor:
Appears in 1 contract
Revolving B Loans. Subject (a) MAKING THE REVOLVING B LOANS. The Bank has made "Revolving B Loans" (as defined in the Existing Credit Agreement) to the Borrowers under the Existing Credit Agreement, which remain outstanding on the Effective Date (immediately prior to the effectiveness of this Agreement). Upon the effectiveness of this Agreement, each "Revolving B Loan" (as defined in the Existing Credit Agreement) shall automatically be deemed to be a "Revolving B Loan" to the Borrowers by the Bank under this Agreement. In addition, the Bank agrees, on the terms and conditions hereinafter set forth, to make Revolving B Loans to the Borrowers from the Effective Date to the Termination Date in an aggregate principal amount at any one time outstanding not to exceed the amount of the Revolving B Commitment (less the aggregate amount of any L/C Outstandings). The Bank shall have no obligation to make a Revolving B Loan if either (i) the sum of the aggregate principal amount of the outstanding Revolving B Loans plus the principal amount of such requested Revolving B Loan would exceed the Available Revolving B Commitment, or (ii) the sum of (A) the aggregate principal amount of the outstanding Revolving B Loans, (B) the principal amount of the requested Revolving B Loan, and (C) the L/C Outstandings would exceed the amount equal to the Revolving B Advance Value. Each Revolving B Loan shall be in an amount equal to $100,000 or an integral multiple of $100,000 in excess thereof, and shall be made on at least one Business Day's prior written notice. Each Notice of Borrowing with respect to a Revolving B Loan shall be irrevocable, shall be signed by either Borrower (it being understood that only the signature of one Borrower shall be required) and shall be in writing, substantially in the form of Exhibit D hereto, specifying, INTER ALIA, the proposed amount of such Revolving B Loan and the Business Day for such Revolving B Loan. On the Business Day specified and upon fulfillment of the applicable terms and conditions set forth hereinin Article III hereof, each Revolving B Lender severally agrees to the Bank will make loans (each such loan, a “Revolving B Loan”) to the Revolving A/B Borrowers in Dollars or in one or more Alternative Currencies from time to time on any Business Day during the Availability Period for the Revolving B Commitments in an aggregate amount not to exceed at any time outstanding the amount proceeds of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount of the Revolving B Loans of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, and (iii) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments. Each Revolving B Lender may, at its option, make any Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary the Borrowers by causing any foreign or domestic branch or Affiliate of such Lender to make such Revolving B Loan; provided that any exercise of such option shall not affect the obligation of such Revolving A/B Borrower to repay such Revolving B Loan in accordance crediting Account Number 350-902-9720 maintained with the terms of this AgreementBank, at its office in Charlotte, Nor▇▇ ▇▇▇▇▇▇▇▇, not later than 2:00 P.M. (Charlotte time) on such date. Within the limits of each Lender’s the Revolving B Commitment, the Borrowers may borrow, prepay and subject reborrow pursuant to this Section 2.2(a) until the other terms Termination Date. It is understood and conditions hereofagreed that from time to time the Bank may issue Letters of Credit for the account of a Borrower pursuant to L/C Applications, and that such Letters of Credit and any unpaid drawings shall reduce any amount available to be borrowed under the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B Loans may be Base Rate Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans or a combination thereof, as further provided herein (provided that Lux 2 may not borrow Base Rate Loans)Commitment.
Appears in 1 contract
Sources: Pledge and Security Agreement (Triarc Companies Inc)
Revolving B Loans. Subject to the terms and conditions set forth herein, each Each Revolving B Lender severally agrees agrees, subject to make loans (each such loan, a “the limitations set forth below with respect to the ----------------- maximum amount of Revolving B Loan”) Loans permitted to the Revolving A/B be outstanding from time to time, to lend to Borrowers in Dollars or in one or more Alternative Currencies from time to time on any Business Day during the Availability Period for period from the Closing Date to but excluding the Revolving B Commitments in Loan Commitment Termination Date an aggregate amount not to exceed at any time outstanding the amount exceeding its Pro Rata Share of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount amount of the Revolving B Loans Loan Commitments to be used for the purposes identified in subsection 2.5B. The original amount of each Revolving B Lender's Revolving B Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate original amount of ------------ the Revolving B Loan Commitments is $31,000,000; provided that the Revolving B Loan Commitments of Revolving B -------- Lenders shall be adjusted to give effect to any assignments of the Revolving B Loan Commitments pursuant to subsection 10.1B and shall be reduced from time to time by the amount of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, and (iii) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitmentsreductions thereto made pursuant to subsection 2.4. Each Revolving B Lender may, at its option, make any Lender's Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary by causing any foreign or domestic branch or Affiliate of such Lender to make such Commitment shall expire on the Revolving B LoanLoan Commitment Termination Date and all Revolving B Loans and all other amounts owed hereunder with respect to the Revolving B Loans and the Revolving B Loan Commitments shall be paid in full no later than that date; provided that any exercise of such option shall not affect the obligation of such -------- each Revolving A/B Borrower to repay such Lender's Revolving B Loan in accordance with Commitment shall expire immediately and without further action on February 7, 2002 if a Revolving Loan is not made on or before that date. Amounts borrowed under this subsection 2.1A(ii)(b) may be repaid and reborrowed to but excluding the terms of this Agreement. Within the limits of each Lender’s Revolving B CommitmentLoan Commitment Termination Date. Anything contained in this Agreement to the contrary notwithstanding, the Revolving B Loans and the Revolving B Loan Commitments shall be subject to the other terms and conditions hereof, following limitations in the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B Loans may be Base Rate Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans or a combination thereof, as further provided herein (provided that Lux 2 may not borrow Base Rate Loans).amounts indicated:
Appears in 1 contract
Revolving B Loans. Subject to the terms and conditions set forth herein, each Revolving B Lender severally agrees to make loans (each such loan, a “Revolving B Loan”) to the Revolving A/B Borrowers in Dollars or in one or more Alternative Currencies from time to time on any Business Day during the Availability Period for the Revolving B Commitments in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount of the Revolving B Loans of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, and (iii) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments. Each Revolving B Lender may, at its option, make any Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary by causing any foreign or domestic branch or Affiliate of such Lender to make such Revolving B Loan; provided that any exercise of such option shall not affect the obligation of such Revolving A/B Borrower to repay such Revolving B Loan in accordance with the terms of this Agreement. Within the limits of each Lender’s Revolving B Commitment, and subject to the other terms and conditions hereof, the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B Loans may be Base Rate Loans or Eurocurrency Rate Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans or a combination thereof, as further provided herein (provided that Lux 2 may not borrow Base Rate Loans).
Appears in 1 contract
Revolving B Loans. Subject Each Revolving B Loan Lender severally agrees, subject to the terms and conditions limitations set forth hereinbelow in the last sentence hereof, each Revolving B Lender severally agrees to make loans (each such loan, a “Revolving B Loan”) lend to the Revolving A/B Borrowers in Dollars or in one or more Alternative Currencies Company from time to time on any Business Day during the Availability Period for period from the Second Amendment Effective Date to the Revolving B Commitments in Loan Commitment Termination Date an aggregate amount not to exceed at any time outstanding the amount exceeding its Pro Rata Share of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount amount of the Revolving B Loans Loan Commitment to be used for the purposes identified in subsection 2.5F. The amount of each Revolving B Loan Lender's Revolving B Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate amount of the Revolving B Loan Commitments as of the Second Amendment Effective Date is $30,000,000; provided that the Revolving B Loan Commitment of Lenders shall be adjusted to give effect to any assignments of the Revolving B Loan Commitment pursuant to subsection 10.1B; and provided further, that the Revolving B Loan Commitment shall be reduced from time to time by the amount of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, reductions thereto made pursuant to subsections 2.4B(ii) and (iii) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments2.4B(iii). Each Revolving B Lender may, at its option, make any Loan Lender's Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary by causing any foreign or domestic branch or Affiliate of such Lender to make such Commitment shall expire on the Revolving B LoanLoan Commitment Termination Date and all Revolving B Loans and all other amounts owed hereunder with respect to the Revolving B Loans and the Revolving B Loan Commitments shall be paid in full no later than that date. Amounts borrowed under this subsection 2.1A(vii) may be repaid and reborrowed to but excluding the Revolving B Loan Commitment Termination Date; provided that from the Second Amendment Effective Date through March 14, 2001 and from June 16, 2001 through the Third Amendment Effective Date, the Company may not have any exercise of such option shall not affect the obligation of such Revolving A/B Borrower to repay such outstanding Revolving B Loan Loans.
B. The first paragraph of subsection 2.1C(ii) of the Credit Agreement is hereby amended by deleting it in accordance with its entirety and substituting the terms of this Agreement. Within the limits of each Lender’s Revolving B Commitment, and subject to the other terms and conditions hereof, the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B Loans may be Base Rate Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans or a combination thereof, as further provided herein (provided that Lux 2 may not borrow Base Rate Loans).following therefor:
Appears in 1 contract
Revolving B Loans. Subject to the terms and conditions set forth herein, each Revolving B Lender severally agrees to make loans (each such loan, a “Revolving B Loan”) to the Revolving A/B Borrowers in Dollars or in one or more Alternative Currencies from time to time on any Business Day during the Availability Period for the Revolving B Commitments in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount of the Revolving B Loans of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, and (iii) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments. Each Revolving B Lender may, at its option, make any Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary by causing any foreign or domestic branch or Affiliate of such Lender to make such Revolving B Loan; provided that any exercise of such option shall not affect the obligation of such Revolving A/B Borrower to repay such Revolving B Loan in accordance with the terms of this Agreement. Within the limits of each Lender’s Revolving B Commitment, and subject to the other terms and conditions hereof, the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B Loans may be Base Rate Loans, Term SOFR Loans, Alternative Currency Daily 13971043v3 Rate Loans or Alternative Currency Term Rate Loans or a combination thereof, as further provided herein (provided that Lux 2 may not borrow Base Rate Loans).
Appears in 1 contract
Sources: Credit Agreement (Corpay, Inc.)
Revolving B Loans. Subject to the terms and conditions set forth herein, each Revolving B Lender severally agrees to make loans (each such loan, a “Revolving B Loan”) to the Revolving A/B Borrowers in Dollars or in one or more Alternative Currencies from time to time on any Business Day during the Availability Period for the Revolving B Commitments in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount of the Revolving B Loans of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, and (iii) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments. Each Revolving B Lender may, at its option, make any Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary by causing any foreign or domestic branch or Affiliate of such Lender to make such Revolving B Loan; provided that any exercise of such option shall not affect the obligation of such Revolving A/B Borrower to repay such Revolving B Loan in accordance with the terms of this Agreement. Within the limits of each Lender’s Revolving B Commitment, and subject to the other terms and conditions hereof, the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B Loans may be Base Rate Loans or Eurocurrency Rate Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans or a combination thereof, as further provided herein (provided that Lux 2 may not borrow Base Rate Loans).. lv CHAR1\1792192v4
Appears in 1 contract
Revolving B Loans. (a) From and including the Closing Date to but excluding the Revolving B Loan Termination Date, each Bank severally agrees, on the terms and subject to the conditions set forth in this Agreement, to make Loans to the Company from time to time (the "Revolving B Loans") in an aggregate amount outstanding at any time not to exceed its Revolving B Loan Commitment. The Revolving B Loan Commitment of each Bank shall be automatically and permanently reduced on each Revolving B Loan Commitment Reduction Date in an amount equal to such Bank's Pro-Rata Share of the applicable Revolving B Loan Commitment Reduction Amount for such Revolving B Loan Commitment Reduction Date.
(b) The Revolving B Loans shall be evidenced by the Revolving B Notes.
(c) The Revolving B Loans shall be Floating Rate Loans or, at the Company's option and subject to the terms hereof, Eurodollar Loans.
(d) Subject to the mandatory repayment obligations of the Company provided for in this Agreement, the Revolving B Loans shall be repaid to the Banks in full on the Revolving B Loan Termination Date. Within the limits and subject to the terms and conditions herein set forth hereinforth, each Revolving B Lender severally agrees to make loans (each such loanLoans may be borrowed, a “Revolving B Loan”) to the Revolving A/B Borrowers in Dollars or in one or more Alternative Currencies repaid and reborrowed from time to time on any Business Day during time.
(e) The Company may use the Availability Period for the Revolving B Commitments in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount proceeds of the Revolving B Loans of any Lender plus such Lender’s Applicable Percentage to fund Permitted Acquisitions, Permitted Stock Repurchases, for working capital and other general corporate purposes, and to the extent applicable pursuant to Section 2.8(b), for Permitted Acquisitions during the Proceeds Application Period. Notwithstanding the foregoing, the Company shall only use up to $14,000,000 of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, and (iii) proceeds from the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments. Each Revolving B Lender may, at its option, make any Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary by causing any foreign or domestic branch or Affiliate of such Lender to make such Revolving B Loan; provided that any exercise of such option shall not affect the obligation of such Revolving A/B Borrower to repay such Revolving B Loan in accordance with the terms of this Agreement. Within the limits of each Lender’s Revolving B Commitment, and subject to the other terms and conditions hereof, the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B Loans may be Base Rate Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans or a combination thereof, as further provided herein (provided that Lux 2 may not borrow Base Rate Loans)to purchase the Noble Stock pursuant to the Noble Stock Purchase and Warrant Redemption Agreement.
Appears in 1 contract
Revolving B Loans. Subject to the terms and conditions set forth herein, each Revolving B Lender severally agrees to make loans (each such loan, a “Revolving B Loan”) to the Revolving A/B Borrowers in Dollars, Australian Dollars or in one or more Alternative Currencies New Zealand Dollars from time to time on any Business Day during the Availability Period for the Revolving B Commitments in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount of the Revolving B Loans of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, and (iii) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments. Each Revolving B Lender may, at its option, make any Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary by causing any foreign or domestic branch or Affiliate of such Lender to make such Revolving B Loan; provided that any exercise of such option shall not affect the obligation of such Revolving A/B Borrower to repay such Revolving B Loan in accordance with the terms of this Agreement. Within the limits of each Lender’s Revolving B Commitment, and subject to the other terms and conditions hereof, the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B Loans denominated in Dollars may be Base Rate Loans or Eurocurrency Rate Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans or a combination thereof, as further provided herein (provided that Lux 2 may not borrow Base herein. Revolving B Loans denominated in Australian Dollars or New Zealand Dollars shall be Eurocurrency Rate Loans). In the event that the Initial Borrowing Date shall not have occurred on or prior to the Termination Date, each Revolving B Lender’s Revolving B Commitment shall automatically expire, and each Revolving B Lender shall have no further obligation to make Revolving B Loans.
Appears in 1 contract
Revolving B Loans. Subject Each Revolving B Loan Lender severally agrees, subject to the terms and conditions limitations set forth hereinbelow in the last sentence hereof, each Revolving B Lender severally agrees to make loans (each such loan, a “Revolving B Loan”) lend to the Revolving A/B Borrowers in Dollars or in one or more Alternative Currencies Company from time to time on any Business Day during the Availability Period for period from the Second Amendment Effective Date to the Revolving B Commitments in Loan Commitment Termination Date an aggregate amount not to exceed at any time outstanding the amount exceeding its Pro Rata Share of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount amount of the Revolving B Loans Loan Commitment to be used for the purposes identified in subsection 2.5F. The amount of each Revolving B Loan Lender's Revolving B Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate amount of the Revolving B Loan Commitments as of the Second Amendment Effective Date is $30,000,000; provided that the Revolving B Loan Commitment of Lenders shall be adjusted to give effect to any assignments of the Revolving B Loan Commitment pursuant to subsection 10.1B; and provided further, that the Revolving B Loan Commitment shall be reduced from time to time by the amount of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, reductions thereto made pursuant to subsections 2.4B(ii) and (iii) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments2.4B(iii). Each Revolving B Lender may, at its option, make any Loan Lender's Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary by causing any foreign or domestic branch or Affiliate of such Lender to make such Commitment shall expire on the Revolving B LoanLoan Commitment Termination Date and all Revolving B Loans and all other amounts owed hereunder with respect to the Revolving B Loans and the Revolving B Loan Commitments shall be paid in full no later than that date. Amounts borrowed under this subsection 2.1A(vii) may be repaid and reborrowed to but excluding the Revolving B Loan Commitment Termination Date; provided that from the Second Amendment Effective Date through March 14, 2001 and from June 16, 2001 through March 14, 2002, the Company may not have any exercise outstanding Revolving B Loans."
F. Subsection 2.1B of such option the Credit Agreement is hereby amended by inserting "and" immediately prior to clause (viii) thereof and by deleting clause (ix) in its entirety.
G. Subsection 2.1E of the Credit Agreement is hereby amended by adding a sentence at the end thereof as follows: "Company shall not affect execute and deliver to each Revolving B Loan Lender on the obligation Second Amendment Effective Date a Revolving B Loan Note substantially in the form of such Revolving A/B Borrower Exhibit IV-G annexed hereto to repay evidence such Revolving B Loan Lender's Revolving B Loan, in the principal amount of that Revolving B Loan Lender's Revolving B Loan Commitment and with other appropriate insertions."
H. Subsection 2.2A of the Credit Agreement is hereby amended by deleting the last paragraph thereof in its entirety and substituting the following therefor: "The Applicable Base Rate Margin or the Applicable Eurodollar Rate Margin shall be determined in accordance with the terms definitions of this Agreementsuch terms, in each case for the four fiscal quarters ending as of the last day of the fiscal quarter immediately preceding the fiscal quarter during which the determination is being made as set forth in the Compliance Certificate delivered pursuant to subsection 6.1(iv)(b), any required adjustment to become automatically effective on the next succeeding Business Day following receipt by the Agent of such Compliance Certificate. Within If Company fails to deliver a Compliance Certificate by the limits time required by subsection 6.1(iv)(b), from such time the Compliance Certificate was required to be delivered until delivery of each Lender’s Revolving B Commitmentsuch Compliance Certificate, the Applicable Base Rate Margin and subject the Applicable Eurodollar Rate Margin shall automatically be adjusted to the other terms and conditions hereof, the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B highest level set forth for such Base Rate Loans may be Base or Eurodollar Rate Loans, Term SOFR Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans or a combination respectively."
I. Subsection 2.2B(v) of the Credit Agreement is hereby amended by deleting the ";" and adding the following at the end thereof, as further provided herein (provided that Lux 2 may not borrow Base Rate Loans).:
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Revolving B Loans. Subject to the terms and conditions set forth herein, each Revolving B Lender severally agrees to make loans (each such loan, a “Revolving B Loan”) to the Revolving A/B Borrowers in Dollars or in one or more Alternative Currencies from time to time on any Business Day during the Availability Period for the Revolving B Commitments in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving B Commitment; provided, however, that after giving effect to any Borrowing of Revolving B Loans, (i) the Total Revolving B Outstandings shall not exceed the Aggregate Revolving B Commitments, (ii) the aggregate Outstanding Amount of the Revolving B Loans of any Lender plus such Lender’s Applicable Percentage of the Outstanding Amount of all Foreign Swing Line Loans shall not exceed such Lender’s Revolving B Commitment, and (iii) the Total Revolving Outstandings shall not exceed the Aggregate Revolving Commitments. Each Revolving B Lender may, at its option, make any Revolving B Loan available to any Revolving A/B Borrower that is a Foreign Subsidiary by causing any foreign or domestic branch or Affiliate of such Lender to make such Revolving B Loan; provided that any exercise of such option shall not affect the obligation of such Revolving A/B Borrower to repay such Revolving B Loan in accordance with the terms of this Agreement. Within the limits of each Lender’s Revolving B Commitment, and subject to the other terms and conditions hereof, the Revolving A/B Borrowers may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving B Loans may be Base Rate Loans, Term SOFR Eurocurrency Rate Loans, Alternative Currency Daily Rate Loans or Alternative Currency Term Rate Loans or a combination thereof, as further provided herein (provided that Lux 2 may not borrow Base Rate Loans).
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