Revolving Commitments and Term Commitments Clause Samples

Revolving Commitments and Term Commitments. (a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Company, in Dollars, and to the Canadian Borrower, in Canadian Dollars, from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Lender’s Revolving Percentage of the sum of (i) the L/C Obligations then outstanding and (ii) the aggregate principal amount of the Swingline Loans then outstanding, does not exceed the amount of such Lender’s Revolving Commitment, provided that the Dollar Equivalent of outstanding Loans denominated in Canadian Dollars shall not exceed the Canadian Sublimit. During the Revolving Commitment Period, the Borrowers may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans, CDOR Rate Loans or ABR Loans, as determined by the relevant Borrower and notified to the Administrative Agent in accordance with Sections 2.2(a) and 2.8. (b) Subject to the terms and conditions hereof, each Term Lender severally agrees to make a term loan denominated in Dollars (a “Term Loan”) to the Company on the Closing Date in an amount not to exceed the amount of the Term Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Company and notified to the Administrative Agent in accordance with Sections 2.2(b) and 2.8. Amounts borrowed under this Section 2.1(b) and repaid or prepaid may not be reborrowed. (c) The Borrowers shall repay all outstanding Revolving Loans on the Revolving Termination Date. (d) The Company shall repay the Term Loans in consecutive quarterly installments on the last day of each fiscal quarter (or, in the case of the last installment, the Term Loan Maturity Date), commencing on June 30, 2014, each of which installments shall be in an aggregate principal amount equal to 0.25% of the original aggregate principal amount of the Term Loans on the Closing Date; provided that with respect to the installment payable on the Term Loan Maturity Date, such installment shall be in an amount equal to the then outstanding principal amount of the Term Loans.