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Common use of Revolving Credit Commitment Clause in Contracts

Revolving Credit Commitment. Subject to the terms and conditions hereof, the Lender agrees to extend a Revolving Credit to each Borrower which may be availed of by each Borrower from time to time during the period from and including the date hereof to but not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the Lender’s Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall not exceed the Commitment and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (a) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers would otherwise request on the same Business Day would exceed the Available Commitment, the Available Commitment will be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors of the Borrowers and the results of such apportionment will be reported in writing to the Lender by the Adviser.

Appears in 7 contracts

Samples: Credit Agreement (Ubs Event Fund, L.L.C.), Credit Agreement (Ubs Technology Partners Lp), Credit Agreement (Ubs Equity Opportunity Fund LLC)

Revolving Credit Commitment. Subject to the terms and conditions hereof, the Lender agrees to extend a revolving credit (the “Revolving Credit Credit”) to each Borrower which may be availed of by each Borrower from time to time during the period from and including the date hereof to but not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the Lender’s Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loans, all as more fully hereinafter set forth, provided provided, that, the aggregate principal amount of all Loans to all Borrowers outstanding at any one time shall not exceed the Commitment and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (a) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers would otherwise request on the same Business Day would exceed the Available Commitment, the Available Commitment will be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors of the Borrowers and the results of such apportionment will be reported in writing to the Lender by the Adviser.

Appears in 5 contracts

Samples: Credit Agreement (NT Equity Long/Short Strategies Fund), Credit Agreement (NT Equity Long/Short Strategies Fund), Credit Agreement (NT Equity Long/Short Strategies Fund)

Revolving Credit Commitment. Subject The Borrowers may, upon notice to the terms and conditions hereofAdministrative Agent from the Borrower Agent, terminate the Aggregate Revolving Credit Commitments, the Lender agrees to extend a Revolving Letter of Credit to each Borrower which may be availed of by each Borrower Sublimit or the Swing Line Sublimit, or from time to time during permanently reduce the period from and including Aggregate Revolving Credit Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 A.M. five Business Days prior to the date hereof of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $5,000,000 in excess thereof, (iii) the Borrowers shall not terminate or reduce (A) the Aggregate Revolving Credit Commitments if, after giving effect thereto and to but any concurrent prepayments hereunder, the Total Revolving Credit Outstandings would exceed the Aggregate Revolving Credit Commitments, (B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of Letter of Credit Obligations not including fully Cash Collateralized hereunder would exceed the Termination Date Letter of Credit Sublimit, or (C) the “Commitment Period”)Swing Line Sublimit if, at which time after giving effect thereto and to any concurrent prepayments hereunder, the commitment Outstanding Amount of Swing Line Loans would exceed the Swing Line Sublimit and (iv) if, after giving effect to any reduction or termination of the Lender Aggregate Revolving Credit Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Aggregate Revolving Credit Commitments, such Sublimit shall be automatically reduced by the amount of such excess. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Revolving Credit Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit. Any reduction of the Aggregate Revolving Credit Commitments shall be applied to extend credit under the Revolving Credit shall expireCommitment of each Revolving Credit Lender according to its Applicable Revolving Credit Percentage. The maximum amount All fees accrued until the effective date of any termination of the Aggregate Revolving Credit which the Lender agrees to extend to the Borrowers Commitments shall be the Lender’s Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall not exceed the Commitment and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (a) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers would otherwise request paid on the same Business Day would exceed the Available Commitment, the Available Commitment will be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors of the Borrowers and the results effective date of such apportionment will be reported in writing to the Lender by the Advisertermination.

Appears in 3 contracts

Samples: Credit Agreement (Lifecore Biomedical, Inc. \De\), Credit Agreement (Landec Corp \Ca\), Credit Agreement (Synalloy Corp)

Revolving Credit Commitment. Subject to the terms and conditions hereofherein set forth, each Committed Lender severally agrees, on any Business Day during the Lender agrees Availability Period, to extend make Syndicated Loans to the Borrower Parties, in Dollars or in one or more Alternative Currencies, on a Revolving Credit to each Borrower which may be availed of by each Borrower several basis, at any time and from time to time during the period from and including the date hereof in an aggregate principal amount up to but such Committed Lender’s Commitment at any such time; provided, however, that after making any such Loans: (a) such Committed Lender’s Principal Obligation would not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the exceed such Committed Lender’s Commitment as then in effect. The Revolving Credit may be utilized by of such date; (b) the Borrowers in the form Principal Obligation of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall such Committed Lender’s Lender Group would not exceed the Commitment and the maximum aggregate amount applicable Lender Group Limit of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of such Lender Group; (ac) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers Principal Obligation would otherwise request on the same Business Day would not exceed the Available Commitment; and (d) the Dollar Equivalent of the amount of the Principal Obligation that is denominated in Alternative Currencies would not exceed twenty-five percent (25%) of the Maximum Commitment. Subject to the foregoing limitation, the Available Commitment will conditions set forth in Section 7 and the other terms and conditions hereof, the Borrower Parties may borrow, repay without penalty or premium (subject to Section 4.05), and re-borrow hereunder, during the Availability Period. Each Borrowing pursuant to this Section 2.01 shall be apportioned among the Borrowers funded ratably by each Lender Group in accordance with resolutions adopted its Applicable Percentage and, if applicable, by a Committed Lender in a particular Lender Group in accordance with such Committed Lender’s Applicable Percentage. No Lender shall be obligated to fund any Loan if the boards of directors of interest rate applicable thereto hereunder would exceed the Borrowers and the results of Maximum Rate in effect with respect to such apportionment will be reported in writing to the Lender by the AdviserLoan.

Appears in 2 contracts

Samples: Revolving Credit Agreement (TCW Direct Lending VII LLC), Revolving Credit Agreement (TCW Direct Lending VII LLC)

Revolving Credit Commitment. Subject to the terms and conditions hereofherein set forth, each Committed Lender severally agrees, on any Business Day during the Lender agrees Availability Period, to extend make Syndicated Loans to the Borrower Parties, in Dollars or in one or more Alternative Currencies, on a Revolving Credit to each Borrower which may be availed of by each Borrower several basis, at any time and from time to time during the period from and including the date hereof in an aggregate principal amount up to but such Committed Lender’s Commitment at any such time; provided, however, that after making any such Loans: (a) such Committed Lender’s Principal Obligation would not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the exceed such Committed Lender’s Commitment as then in effect. The Revolving Credit may be utilized by of such date; (b) the Borrowers in the form Principal Obligation of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall such Committed Lender’s Lender Group would not exceed the Commitment aggregate applicable Lender Group Limit of such Lender Group; and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (ac) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers Principal Obligation would otherwise request on the same Business Day would not exceed the Available Commitment. Subject to the foregoing limitation, the Available Commitment will conditions set forth in Section 7 and the other terms and conditions hereof, the Borrower Parties may borrow, repay without penalty or premium (subject to Section 4.05), and re-borrow hereunder, during the Availability Period. Each Borrowing pursuant to this Section 2.01 shall be apportioned among the Borrowers funded ratably by each Lender Group in accordance with resolutions adopted its Applicable Percentage and, if applicable, by a Committed Lender in a particular Lender Group in accordance with such Committed Lender’s Applicable Percentage. No Lender shall be obligated to fund any Loan if the boards of directors of interest rate applicable thereto hereunder would exceed the Borrowers and the results of Maximum Rate in effect with respect to such apportionment will be reported in writing to the Lender by the AdviserLoan.

Appears in 2 contracts

Samples: Revolving Credit Agreement (TCW Direct Lending LLC), Revolving Credit Agreement (TCW Direct Lending LLC)

Revolving Credit Commitment. Subject to the terms and conditions hereofset forth in this Agreement and so long as no Default or Event of Default has occurred and is continuing, during the Revolving Credit Period, each Lender severally agrees to make such loans to Borrower (individually, an “Revolving Credit Loan” and collectively, the Lender agrees to extend a Revolving Credit to each Loans”) as Borrower which may be availed of by each Borrower from time to time during request pursuant to Section 2.07. Each Revolving Credit Loan under this Section 2.01 which is a Revolving Credit LIBOR Loan shall be for an aggregate principal amount of at least $1,000,000 or any larger multiple of $100,000. Each Revolving Credit Loan under this Section 2.01 which is a Revolving Credit ABR Loan shall be for an aggregate principal amount of at least $100,000 or any larger multiple of $25,000. The aggregate principal amount of Revolving Credit Loans that each Lender shall be required to have outstanding under this Agreement as of any date shall not exceed the period from and including the date hereof product of (i) a percentage equal to but not including the Termination Date (the “Commitment Period”), at which time the commitment such Lender’s Pro Rata Share of the total Revolving Credit Commitments of all of the Lenders multiplied by (ii) the sum of (A) the total Revolving Credit Commitments of all of the Lenders as of such date, minus (B) the aggregate principal amount of Swing Line Loans outstanding as of such date minus (C) the aggregate undrawn face amount of all Letters of Credit outstanding as of such date plus all unreimbursed drawings with respect thereto; provided, however, that in no event shall (i) the Total Revolving Credit Outstandings as of any date exceed the total Revolving Credit Commitments of all of the Lenders as of such date or (ii) the sum of (A) the aggregate principal amount of all outstanding Revolving Credit Loans made by any Lender plus (B) such Lender’s Pro Rata Share of the aggregate outstanding Swing Line Loans plus (B) such Lender’s Pro Rata Share of the aggregate undrawn face amount of all outstanding Letters of Credit plus all unreimbursed drawings with respect thereto exceed the amount of such Lender’s Revolving Credit Commitment. Each Revolving Credit Loan under this Section 2.01 shall be made from the several Lenders ratably in proportion to extend credit their respective Pro Rata Shares. Within the foregoing limits, Borrower may borrow under this Section 2.01, prepay under Section 2.14 and reborrow at any time during the Revolving Credit Period under this Section 2.01. All Revolving Credit Loans not paid prior to the last day of the Revolving Credit Period, together with all accrued and unpaid interest thereon and all fees and other amounts owing by Borrower to the Agent and/or the Lenders with respect thereto, shall expirebe due and payable on the last day of the Revolving Credit Period. The maximum failure of any Lender to make any Revolving Credit Loan required under this Agreement shall not release any other Lender from its obligation to make Revolving Credit Loans as provided herein. If the total Revolving Credit Commitments of all of the Lenders on any date should be less than the Total Revolving Credit Outstandings on such date, whether as a result of Borrower’s election to decrease the amount of the Revolving Credit Commitments of the Lenders pursuant to following paragraph or otherwise, Borrower shall be automatically required (without demand or notice of any kind by the Agent or any Lender, all of which are hereby expressly waived by Borrower) to immediately repay the Lender agrees Revolving Credit Loans and/or the Swing Line Loans and/or surrender for cancellation the outstanding Letters of Credit, in either case in an amount sufficient to extend reduce the amount of the Total Revolving Credit Outstandings to an amount equal to or less than the total Revolving Credit Commitments of all of the Lenders. Borrower may, upon three (3) Domestic Business Days’ prior written notice to the Borrowers shall be the Agent and each Lender’s Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding terminate entirely at any one time, or proportionately reduce from time shall not exceed to time on a pro rata basis among the Commitment and the maximum Lenders based on their respective Pro Rata Shares by an aggregate amount of all Loans made to $500,000 or any Borrower at any one time outstanding shall not exceed larger multiple of $25,000 the lesser unused portions of (a) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowingCommitments; provided, repaying however, that (i) at no time shall the Revolving Credit Commitments be reduced to a figure less than the Total Revolving Credit Outstandings, (ii) at no time shall the Revolving Credit Commitments be reduced to a figure not less than $25,000,000 and reborrowing Loans in whole (iii) any such termination or in part, all in accordance with the terms and conditions of this Agreement. Loans reduction shall be made available permanent and Borrower shall have no right to thereafter reinstate or increase, as the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers would otherwise request on the same Business Day would exceed the Available Commitmentcase may be, the Available Revolving Credit Commitment will be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors of the Borrowers and the results of such apportionment will be reported in writing to the Lender by the Adviserany Lender.

Appears in 2 contracts

Samples: Loan Agreement (Schiff Nutrition International, Inc.), Loan Agreement (Schiff Nutrition International, Inc.)

Revolving Credit Commitment. Subject to the terms and conditions hereof, the Lender agrees to extend a Revolving Credit to each Borrower which may be availed of by each Borrower from time to time during the period from and including the date hereof to but not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the Lender’s Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall not exceed the Commitment and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (a) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement, each Lender severally agrees to make Advances to the Borrowers, from time to time from the Closing Date until the Revolving Credit Termination Date, on a pro rata basis as to the total borrowing requested by the Borrowers under the Revolving Credit Facility on any day determined by its Applicable Commitment Percentage up to but not exceeding the Revolving Credit Commitment of such Lender, provided, however, that the Lenders will not be required and shall have no obligation to make any Advance (i) so long as not all of the conditions under Section 5.02 hereof have been fulfilled, (ii) so long as a Default or an Event of Default has occurred and is continuing or (iii) if the Administrative Agent has accelerated the maturity of the Revolving Credit Notes as a result of an Event of Default; provided further, however, that immediately after giving effect to each such Advance, the principal amount of Outstanding Credit Obligations shall not exceed the Total Revolving Credit Commitment. Loans Within such limits, the Borrowers may borrow, repay and reborrow hereunder, on a Business Day in the case of a Base Rate Loan and on a Business Day in the case of a Eurodollar Loan, from the Closing Date until, but (as to borrowings and reborrowings) not including, the Revolving Credit Termination Date; provided, however, that (x) no Eurodollar Loan that is a Revolving Credit Loan shall be made available which has an Interest Period that extends beyond the Revolving Credit Termination Date and (y) each Eurodollar Loan may, subject to the Borrowers on a first comeprovisions of Section 2.11, first served basis, provided, that, if the amount of Loans which some or all Borrowers would otherwise request be repaid only on the same Business Day would exceed the Available Commitment, the Available Commitment will be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors last day of the Borrowers and the results of such apportionment will be reported in writing to the Lender by the AdviserInterest Period with respect thereto.

Appears in 2 contracts

Samples: Reimbursement Agreement (Republic Industries Inc), Credit Facilities and Reimbursement Agreement (Autonation Inc /Fl)

Revolving Credit Commitment. Subject to the terms and conditions hereof, the Lender agrees to extend a Revolving Credit to each Borrower which may be availed of by each Borrower from time to time during the period from and including the date hereof to but not including the Termination Date (the "Commitment Period"), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the Lender’s 's Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loans, all as more fully hereinafter set forth, provided provided, that, the aggregate principal amount of Loans outstanding at any one time shall not exceed the Commitment and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (a) the Commitment, and (b) such Borrower’s 's Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers would otherwise request on the same Business Day would exceed the Available Commitment, the Available Commitment will be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors of the Borrowers and the results of such apportionment will be reported in writing to the Lender by the Adviser.

Appears in 2 contracts

Samples: Credit Agreement (Ubs Event & Equity Fund LLC), Credit Agreement (Ubs Multi-Strat Fund LLC)

Revolving Credit Commitment. Subject to the terms and conditions hereofof this Agreement, the Lender agrees to extend a Revolving Credit to each Borrower which may be availed of by each Borrower from time to time during the period from and including the effective date hereof of this Agreement to but not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under excluding the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the Lender’s Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loans, all as more fully hereinafter set forthTermination Date, provided thatthat no Default or Event of Default then has occurred and is continuing, Bank will make loans (collectively, the "Revolving Loans" and individually, a "Revolving Loan") to Borrower as Borrower may request from time to time; provided, however, that the aggregate principal amount of all such Revolving Loans outstanding at any one time shall not exceed Forty Million Dollars ($40,000,000) or such lesser amount to which it may (in Borrower’s discretion) be hereafter reduced pursuant to Section 2.8 below (the "Revolving Credit Commitment"). Each Revolving Loan requested and made hereunder shall be in a principal amount of not less than Five Hundred Thousand Dollars ($500,000) or in an integral multiple of One Hundred Thousand Dollars ($100,000) in excess thereof. Within the limits of time and amount set forth in this Section 2.1, Borrower may borrow, repay and reborrow Revolving Loans under the Revolving Credit Commitment. All Revolving Loans shall be requested before the Revolving Credit Commitment Termination Date, on which date all outstanding principal of and accrued but unpaid interest on the maximum aggregate Revolving Loans shall be due and payable. Borrower's obligation to repay the outstanding principal amount of all Loans made Revolving Loans, together with accrued but unpaid interest thereon, shall be evidenced by a promissory note issued by Borrower in favor of Bank (the "Revolving Note") on the standard form used by Bank to any Borrower at any one time outstanding evidence its commercial loans. Bank shall not exceed enter the lesser amount of (a) the Commitmenteach Revolving Loan, and (b) any payments thereof, in its books and records, and such Borrower’s Borrowing Limit. During entries shall be prima facie evidence of the Commitment Period, each Borrower may utilize principal amount outstanding under the Revolving Credit by borrowing, repaying Commitment. The failure of Bank to make any notation in its books and reborrowing Loans records shall not discharge Borrower from its obligation to repay in whole or in part, full with interest all in accordance with amounts borrowed under the terms and conditions Revolving Credit Commitment. The proceeds of this Agreement. the Revolving Loans shall be made available disbursed for the purposes set forth in Section 2.3(a) hereof pursuant to the Borrowers disbursement instructions provided to Bank on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers would otherwise request on the same Business Day would exceed the Available Commitment, the Available Commitment will be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors of the Borrowers and the results of such apportionment will be reported in writing to the Lender by the AdviserBank’s standard form therefor.

Appears in 1 contract

Samples: Credit Agreement (J2 Global Communications Inc)

Revolving Credit Commitment. Subject to the terms and conditions hereofherein set forth, each Committed Lender severally agrees, on any Business Day during the Lender agrees Availability Period, to extend make Syndicated Loans to the Borrower Parties, in Dollars, on a Revolving Credit to each Borrower which may be availed of by each Borrower several basis, at any time and from time to time during the period from and including the date hereof in an aggregate principal amount up to but such Committed Lender’s Commitment at any such time; provided, however, that after making any such Loans: (a) such Committed Lender’s Principal Obligation would not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the exceed such Committed Lender’s Commitment as then in effect. The Revolving Credit may be utilized by of such date; (b) the Borrowers in the form Principal Obligation of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall such Committed Lender’s Lender Group would not exceed the Commitment aggregate applicable Lender Group Limit of such Lender Group; and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (ac) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers Principal Obligation would otherwise request on the same Business Day would not exceed the Available Commitment. Subject to the foregoing limitation, the Available Commitment will conditions set forth in Section 7 and the other terms and conditions hereof, the Borrower Parties may borrow, repay without penalty or premium (subject to Section 4.05), and re-borrow hereunder, during the Availability Period. Each Borrowing pursuant to this Section 2.01 shall be apportioned among the Borrowers funded ratably by each Lender Group in accordance with resolutions adopted its Applicable Percentage and, if applicable, by a Committed Lender in a particular Lender Group in accordance with such Committed Lender’s Applicable Percentage. No Lender shall be obligated to fund any Loan if the boards of directors of interest rate applicable thereto hereunder would exceed the Borrowers and the results of Maximum Rate in effect with respect to such apportionment will be reported in writing to the Lender by the AdviserLoan.

Appears in 1 contract

Samples: Revolving Credit Agreement (TCW Direct Lending VIII LLC)

Revolving Credit Commitment. Subject to the terms and conditions hereofof this Agreement, from the date of this Agreement to but excluding June 1, 2005 (the "Revolving Credit Commitment Termination Date"), provided that no Event of Default then has occurred and is continuing, Bank will make loans (collectively, the Lender agrees "Revolving Loans" and individually, a "Revolving Loan") to extend a Revolving Credit to each Borrower which as Borrower may be availed of by each Borrower request from time to time during the period from and including the date hereof to but not including the Termination Date (the “Commitment Period”)time; provided, at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the Lender’s Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loanshowever, all as more fully hereinafter set forth, provided that, that the aggregate principal amount of all such Revolving Loans outstanding at any one time shall not exceed Seven Million Five Hundred Thousand Dollars ($7,500,000) (the "Revolving Credit Commitment"). Within the limits of time and amount set forth in this Section 2.1, Borrower may borrow, repay and reborrow Revolving Loans under the Revolving Credit Commitment. All Revolving Loans shall be requested before the Revolving Credit Commitment Termination Date, on which date all unpaid principal of and accrued interest on all Revolving Loans shall be due and payable. Borrower's obligation to repay the maximum aggregate principal amount of all Loans made Revolving Loans, together with accrued interest thereon, shall be evidenced by a promissory note issued by Borrower in favor of Bank (the "Revolving Note") on the standard form used by Bank to any evidence its commercial loans. The Revolving Note shall replace and supersede that certain replacement Revolving Note dated as of May 1, 2002, issued by Borrower at any one time outstanding in favor of Bank pursuant to the Prior Agreement. Bank shall not exceed enter the lesser amount of (a) the Commitmenteach Revolving Loan, and (b) any payments thereof, in its books and records, and such Borrower’s Borrowing Limit. During entries shall be prima facie evidence of the Commitment Period, each Borrower may utilize amount outstanding under the Revolving Credit by borrowing, repaying Commitment. The failure of Bank to make any notation in its books and reborrowing Loans records shall not discharge Borrower of its obligation to repay in whole or in part, full with interest all in accordance with amounts borrowed hereunder. The proceeds of the terms and conditions of this Agreement. Revolving Loans shall be made available disbursed for the purposes set forth in Section 2.4(a) hereof pursuant to the Borrowers disbursement instructions provided to Bank on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers would otherwise request on the same Business Day would exceed the Available Commitment, the Available Commitment will be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors of the Borrowers and the results of such apportionment will be reported in writing to the Lender by the AdviserBank's standard form therefor.

Appears in 1 contract

Samples: Credit Agreement (Diodes Inc /Del/)

Revolving Credit Commitment. Subject to the terms and conditions hereofherein set forth, each Committed Lender severally agrees, on any Business Day during the Lender agrees Availability Period, to extend make Syndicated Loans to the Borrower Parties, on a Revolving Credit to each Borrower which may be availed of by each Borrower several basis, at any time and from time to time during the period from and including the date hereof in an aggregate principal amount up to but such Committed Xxxxxx’s Commitment at any such time; provided, however, that after making any such Loans: (a) such Committed Xxxxxx’s Principal Obligation would not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the Lenderexceed such Committed Xxxxxx’s Commitment as then in effect. The Revolving Credit may be utilized by of such date; (b) the Borrowers in the form Principal Obligation of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall such Committed Lender’s Lender Group would not exceed the Commitment aggregate applicable Lender Group Limit of such Lender Group; and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (ac) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers Principal Obligation would otherwise request on the same Business Day would not exceed the Available Commitment. Subject to the foregoing limitation, the Available Commitment will conditions set forth in Article 7 and the other terms and conditions hereof, the Borrower Parties may borrow, repay without penalty or premium (subject to Section 4.05), and re-borrow hereunder, during the Availability Period. Each Borrowing pursuant to this Section 2.01 shall be apportioned among the Borrowers funded ratably by each Lender Group in accordance with resolutions adopted its Applicable Percentage and, if applicable, by a Committed Lender in a particular Lender Group in accordance with such Committed Lender’s Applicable Percentage. No Lender shall be obligated to fund any Loan if the boards of directors of interest rate applicable thereto hereunder would exceed the Borrowers and the results of Maximum Rate in effect with respect to such apportionment will be reported in writing to the Lender by the AdviserLoan.

Appears in 1 contract

Samples: Revolving Credit Agreement (TCW Direct Lending LLC)

Revolving Credit Commitment. Subject to the terms and conditions hereofset forth herein, the Lender agrees to extend make loans (each such loan, a Revolving Credit Loan”) to each Borrower which may be availed of by each the Borrower from time to time time, on any Business Day during the period from and including the date hereof to but not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under Availability Period for the Revolving Credit Commitment, in an aggregate amount not to exceed at any time outstanding the amount of the Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Revolving Loan, the aggregate outstanding amount of all Revolving Loans plus any outstanding Letters of Credit (whether or not drawn) shall expirenot exceed the Revolving Credit Commitment. The maximum amount Within the limits of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the Lender’s Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall not exceed the Commitment and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (a) the Commitment, and (b) such subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(a), prepay under Section 2.03, and reborrow under this Section 2.01(a). The Borrower’s Borrowing Limit. During obligation to pay the Commitment Periodprincipal of, each Borrower may utilize and interest on, the Revolving Loans shall be evidenced by the records of the Lender and by the Revolving Credit by borrowingNote. The entries made in such records shall be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided, repaying that the failure or delay of the Lender in maintaining or making entries into any such record or any error therein shall not in any manner affect the obligation of the Borrower to repay the Revolving Loans (both principal and reborrowing Loans in whole or in part, all unpaid accrued interest) in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers would otherwise request The Revolving Credit Commitment may include an investment and/or borrowing sweep feature on the same Business Day would exceed terms and conditions of the Available CommitmentSweep Agreement, the Available Commitment terms of which are hereby incorporated in this Agreement by reference. The Sweep Agreement will be apportioned among the Borrowers remain in effect until such time (if any) as it is terminated in accordance with resolutions adopted by the boards of directors of the Borrowers and the results of such apportionment will be reported in writing to the Lender by the Adviserits terms.

Appears in 1 contract

Samples: Credit Agreement (Western Capital Resources, Inc.)

Revolving Credit Commitment. Subject to the terms and conditions hereofof this Agreement, from the effective date of the Third Amendment to this Agreement to but excluding the Revolving Credit Commitment Termination Date, provided that no Event of Default then has occurred and is continuing, Bank will make one or more revolving loans (collectively, the Lender agrees ‘Revolving Loans’ and individually, a ‘Revolving Loan’) to extend a Revolving Credit to each Borrower which as Borrower may be availed of by each Borrower request from time to time during the period from and including the date hereof to but not including the Termination Date time; provided, however, that (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the Lender’s Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loans, all as more fully hereinafter set forth, provided that, a) the aggregate outstanding principal amount of all such Revolving Loans outstanding at any one time shall not exceed Forty Million Dollars ($40,000,000) (the Commitment and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (a‘Revolving Credit Commitment’) the Commitment, and (b) the aggregate principal amount of all Revolving Loans made by Bank to Borrower during the term of this Agreement, the proceeds of which are used by Borrower for the purpose of consummating a Permitted Acquisition, shall not exceed Fifteen Million Dollars ($15,000,000). Each Revolving Loan requested and made hereunder which bears interest at a rate based upon the Base Interest Rate (as such Borrower’s Borrowing Limitterm is defined in the Revolving Note) shall be in a principal amount of not less than Five Hundred Thousand Dollars ($500,000). During Each Revolving Loan requested and made hereunder which bears interest at a rate based upon the Commitment PeriodReference Rate (as such term is defined in the Revolving Note) shall be in a principal amount of not less than One Hundred Thousand Dollars ($100,000). Within the limits of time and amount set forth in this Section 2.1, each Borrower may utilize borrow, repay and reborrow Revolving Loans under the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this AgreementCommitment. All Revolving Loans shall be made available requested before the Revolving Credit Commitment Termination Date, on which date all outstanding principal of and accrued but unpaid interest on all Revolving Loans shall be due and payable. Borrower’s obligation to repay the Borrowers outstanding principal amount of all Revolving Loans, together with accrued but unpaid interest thereon, shall be evidenced by a promissory note issued by Borrower in favor of Bank (the ‘Revolving Note’) on a first come, first served basis, provided, that, if the standard form used by Bank to evidence its commercial loans. Bank shall enter the amount of Loans which some or all Borrowers would otherwise request on the same Business Day would exceed the Available Commitmenteach Revolving Loan, the Available Commitment will and any payments thereof, in its books and records, and such entries shall be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors prima facie evidence of the Borrowers principal amount outstanding under the Revolving Credit Commitment. The failure of Bank to make any notation in its books and records shall not discharge Borrower of its obligation to repay in full with interest all amounts borrowed hereunder. The proceeds of the results Revolving Loans shall be disbursed pursuant to an Authorization to Disburse, on Bank’s standard form therefor, executed and delivered by Borrower to Bank, and used by Borrower for any of such apportionment will be reported the purposes set forth in writing to the Lender by the AdviserSection 2.3(a) hereinbelow.

Appears in 1 contract

Samples: Credit Agreement (Motorcar Parts America Inc)

Revolving Credit Commitment. (a) Subject to the terms and conditions hereofset forth in this Agreement and so long as no Default or Event of Default has occurred and is continuing, during the Revolving Credit Period, Lender agrees to extend a Revolving Credit make such loan advances to each Borrower which (each, an “Advance”; and collectively, the “Advances”) as Borrower may be availed of by each Borrower from time to time during the period from and including the date hereof request pursuant to but not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expireSection 2.03. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers Each Advance shall be the Lender’s Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loans, all as more fully hereinafter set forth, provided that, the for an aggregate principal amount of Loans outstanding at least $100,000 or any one time shall not exceed the Commitment and the maximum larger multiple of $25,000. The aggregate principal amount of all Loans made Advances which Lender shall be required to have outstanding under this Agreement as of any Borrower at any one time outstanding date shall not exceed the lesser of (ai) Lender’s Revolving Credit Commitment as of such date, or (ii) the CommitmentBorrowing Base in effect on such date. Within the foregoing limits, Borrower may borrow under this Section 2.01(a), prepay under Section 2.10 and reborrow at any time during the Revolving Credit Period under this Section 2.01(a). All Advances not prepaid prior to the last day of the Revolving Credit Period, together with all accrued and unpaid interest thereon and all fees and other amounts owing by Borrower to Lender with respect thereto, shall be due and payable on the last day of the Revolving Credit Period. (b) If the total outstanding Advances on any date are greater than the Borrowing Base as in effect on such date, Borrower shall be required (upon notice by Lender) to repay the Advances and/or deliver additional Securities to Lender on the next Business Day, in an amount sufficient to reduce the amount of the total outstanding Advances to an amount equal to or less than the amount of the Borrowing Base. (c) If the amount of Lender’s Revolving Credit Commitment on any date is less than the Advances outstanding on such date, whether as a result of Borrower’s Borrowing Limit. During election to decrease the amount of Lender’s Revolving Credit Commitment pursuant to Section 2.01(d) or otherwise, Borrower shall be automatically required (without demand or notice of any kind by Lender, all of which are hereby expressly waived by Borrower) to promptly repay the Advances in an amount sufficient to reduce the amount of the Advances outstanding to an amount equal to or less than the amount of Lender’s Revolving Credit Commitment. (d) Borrower may, upon three (3) New York Banking Days’ prior written notice to Lender, terminate entirely at any time, or reduce from time to time by an aggregate amount of $1,000,000 or any larger multiple of $250,000 the unused portions of Lender’s Revolving Credit Commitment; provided, however, that any such termination or reduction shall be permanent and Borrower shall have no right to thereafter reinstate or increase, as the case may be, Lender’s Revolving Credit Commitment. (e) The Revolving Credit Period may, at the written request of Borrower not less than sixty (60) days before the last day of the then current Revolving Credit Period, each Borrower may utilize be extended for an additional 364 day period from the last day of the then current Revolving Credit Period; provided that the failure of Lender to respond to such a request and extend the then current Revolving Credit Period for such additional 364 day period by not less than thirty (30) days before the last day of the then current Revolving Credit Period shall be conclusively deemed an election by Lender not to extend the Revolving Credit by borrowingPeriod; provided further any date to which the then current Revolving Credit Period has been extended may be extended in a like manner. At the time of any such extension, repaying and reborrowing Loans in whole or in part, all in accordance with Lender reserves the right to renegotiate terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers would otherwise request on the same Business Day would exceed the Available Commitment, the Available Commitment will be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors of the Borrowers Agreement and the results of other Transaction Documents as a condition to granting any such apportionment will be reported in writing to the Lender by the Adviserextension.

Appears in 1 contract

Samples: Loan Agreement (Broadridge Financial Solutions, Inc.)

Revolving Credit Commitment. Subject to the terms and conditions hereofof this Agreement, from the effective date of the Second Amendment to this Agreement to but excluding the Revolving Credit Commitment Termination Date, provided that no Event of Default then has occurred and is continuing, Bank will make one or more revolving loans (collectively, the Lender agrees ‘Revolving Loans’ and individually, a ‘Revolving Loan’) to extend a Revolving Credit to each Borrower which as Borrower may be availed of by each Borrower request from time to time during the period from and including the date hereof to but not including the Termination Date time; provided, however, that (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the Lender’s Commitment as then in effect. The Revolving Credit may be utilized by the Borrowers in the form of Loans, all as more fully hereinafter set forth, provided that, a) the aggregate outstanding principal amount of all such Revolving Loans outstanding at any one time shall not exceed Thirty-Five Million Dollars ($35,000,000) (the Commitment and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (a“Revolving Credit Commitment”) the Commitment, and (b) the aggregate principal amount of all Revolving Loans made by Bank to Borrower during the term of this Agreement, the proceeds of which are used by Borrower for the purpose of consummating a Permitted Acquisition, shall not exceed Fifteen Million Dollars ($15,000,000). Each Revolving Loan requested and made hereunder which bears interest at a rate based upon the Base Interest Rate (as such Borrower’s Borrowing Limitterm is defined in the Revolving Note) shall be in a principal amount of not less than Five Hundred Thousand Dollars ($500,000). During Each Revolving Loan requested and made hereunder which bears interest at a rate based upon the Commitment PeriodReference Rate (as such term is defined in the Revolving Note) shall be in a principal amount of not less than One Hundred Thousand Dollars ($100,000). Within the limits of time and amount set forth in this Section 2.1, each Borrower may utilize borrow, repay and reborrow Revolving Loans under the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this AgreementCommitment. All Revolving Loans shall be made available requested before the Revolving Credit Commitment Termination Date, on which date all outstanding principal of and accrued but unpaid interest on all Revolving Loans shall be due and payable. Borrower’s obligation to repay the Borrowers outstanding principal amount of all Revolving Loans, together with accrued but unpaid interest thereon, shall be evidenced by a promissory note issued by Borrower in favor of Bank (the ‘Revolving Note’) on a first come, first served basis, provided, that, if the standard form used by Bank to evidence its commercial loans. Bank shall enter the amount of Loans which some or all Borrowers would otherwise request on the same Business Day would exceed the Available Commitmenteach Revolving Loan, the Available Commitment will and any payments thereof, in its books and records, and such entries shall be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors prima facie evidence of the Borrowers principal amount outstanding under the Revolving Credit Commitment. The failure of Bank to make any notation in its books and records shall not discharge Borrower of its obligation to repay in full with interest all amounts borrowed hereunder. The proceeds of the results Revolving Loans shall be disbursed pursuant to an Authorization to Disburse, on Bank’s standard form therefor, executed and delivered by Borrower to Bank, and used by Borrower for any of such apportionment will be reported the purposes set forth in writing to the Lender by the AdviserSection 2.3(a) hereinbelow.

Appears in 1 contract

Samples: Credit Agreement (Motorcar Parts America Inc)

Revolving Credit Commitment. Subject to the terms and conditions hereofherein set forth, each Committed Lender severally agrees, on any Business Day during the Lender agrees Availability Period, to extend make Syndicated Loans to the Borrower Parties, on a Revolving Credit to each Borrower which may be availed of by each Borrower several basis, at any time and from time to time during the period from and including the date hereof in an aggregate principal amount up to but such Committed Lender’s Commitment at any such time; provided, however, that after making any such Loans: (a) such Committed Lender’s Principal Obligation would not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the exceed such Committed Lender’s Commitment as then in effect. The Revolving Credit may be utilized by of such date; (b) the Borrowers in the form Principal Obligation of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall such Committed Lender’s Lender Group would not exceed the Commitment aggregate applicable Lender Group Limit of such Lender Group; and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (ac) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers Principal Obligation would otherwise request on the same Business Day would not exceed the Available Commitment. Subject to the foregoing limitation, the Available Commitment will conditions set forth in Section 7 and the other terms and conditions hereof, the Borrower Parties may borrow, repay without penalty or premium (subject to Section 4.05), and re-borrow hereunder, during the Availability Period. Each Borrowing pursuant to this Section 2.01 shall be apportioned among the Borrowers funded ratably by each Lender Group in accordance with resolutions adopted its Applicable Percentage and, if applicable, by a Committed Lender in a particular Lender Group in accordance with such Committed Lender’s Applicable Percentage. No Lender shall be obligated to fund any Loan if the boards of directors of interest rate applicable thereto hereunder would exceed the Borrowers and the results of Maximum Rate in effect with respect to such apportionment will be reported in writing to the Lender by the AdviserLoan.

Appears in 1 contract

Samples: Revolving Credit Agreement (TCW Direct Lending VII LLC)

Revolving Credit Commitment. Subject to the terms and conditions hereofherein set forth, each Committed Lender severally agrees, on any Business Day during the Lender agrees Availability Period, to extend make Loans to the Borrower Parties, in Dollars or in one or more Alternative Currencies, on a Revolving Credit to each Borrower which may be availed of by each Borrower several basis, at any time and from time to time during the period from and including the date hereof in an aggregate principal amount up to but such Committed Lender’s Commitment at any such time; provided, however, that after making any such Loans: (a) such Committed Lender’s Principal Obligation would not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the exceed such Committed Lender’s Commitment as then in effect. The Revolving Credit may be utilized by of such date; (b) the Borrowers in the form Principal Obligation of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall such Committed Lender’s Lender Group would not exceed the Commitment aggregate applicable Lender Group Limit of such Lender Group; and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (ac) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers Principal Obligation would otherwise request on the same Business Day would not exceed the Available Commitment. Subject to the foregoing limitation, the Available Commitment will conditions set forth in Section 7 and the other terms and conditions hereof, the Borrower Parties may borrow, repay without penalty or premium (subject to Section 4.05), and re-borrow hereunder, during the Availability Period. Each Borrowing pursuant to this Section 2.01 shall be apportioned among the Borrowers funded ratably by each Lender Group in accordance with resolutions adopted its Applicable Percentage and, if applicable, by a Committed Lender in a particular Lender Group in accordance with such Committed Lender’s Applicable Percentage. No Lender shall be obligated to fund any Loan if the boards of directors of interest rate applicable thereto hereunder would exceed the Borrowers and the results of Maximum Rate in effect with respect to such apportionment will be reported in writing to the Lender by the AdviserLoan.

Appears in 1 contract

Samples: Revolving Credit Agreement (TCW Direct Lending LLC)

Revolving Credit Commitment. Subject to the terms and conditions hereofherein set forth, each Committed Lender severally agrees, on any Business Day during the Lender agrees Availability Period, to extend make Loans to the Borrower Parties, in Dollars or in one or more Alternative Currencies, on a Revolving Credit to each Borrower which may be availed of by each Borrower several basis, at any time and from time to time during the period from and including the date hereof in an aggregate principal amount up to but such Committed Lender’s Commitment at any such time; provided, however, that after making any such Loans: (a) such Committed Lender’s Principal Obligation would not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the exceed such Committed Lender’s Commitment as then in effect. The Revolving Credit may be utilized by of such date; (b) the Borrowers in the form Principal Obligation of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall such Committed Lender’s Lender Group would not exceed the Commitment aggregate applicable Lender Group Limit of such Lender Group; and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (ac) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers Principal Obligation would otherwise request on the same Business Day would not exceed the Available Commitment. Subject to the foregoing limitation, the Available Commitment will conditions set forth in Section 7 and the other terms and conditions hereof, the Borrower Parties may borrow, repay without penalty or premium (subject to Section 4.05), and re-borrow hereunder, during the Availability Period. Each Borrowing pursuant to this Section 2.01 shall be apportioned among the Borrowers funded ratably by each Lender Group in accordance with resolutions adopted its Applicable Percentage and, if applicable, by a Committed Lender in a particular Table of Contents Lender Group in accordance with such Committed Lender’s Applicable Percentage. No Lender shall be obligated to fund any Loan if the boards of directors of interest rate applicable thereto hereunder would exceed the Borrowers and the results of Maximum Rate in effect with respect to such apportionment will be reported in writing to the Lender by the AdviserLoan.

Appears in 1 contract

Samples: Revolving Credit Agreement (TCW Direct Lending LLC)

Revolving Credit Commitment. Subject to the terms and conditions hereofcontained herein, the each Lender agrees to extend a Revolving Credit to each will establish for Borrower which may be availed of by each Borrower from time to time for and during the period from and including the date hereof to but not including the Termination Date and until April 8, 2001 (the “Commitment "Contract Period"), a revolving credit facility (all such revolving credit facilities, but excluding the Swingline Loan(s), shall be collectively referred to as the "Revolver") pursuant to which Lenders will, from time to time, in accordance with their respective Pro Rata Percentage, severally and not jointly, make Advances to Borrower in an aggregate amount not exceeding at which any time the commitment Maximum Amount less (i) the aggregate face amount of all Letter of Credit Advances, and (ii) the aggregate amount outstanding under the Swingline Loan. Within the limitations set forth above, Borrower may borrow, repay and reborrow under the Revolver. The Revolver shall be subject to all terms and conditions set forth in all of the Lender Loan Documents, which terms and conditions are incorporated herein. Borrower's obligation to extend credit under repay the Revolving Advances and all sums at any time payable by Borrower in connection with any letter of Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers Advances shall be evidenced by Borrower's promissory notes (collectively, the "Revolver Notes" and individually a "Revolver Note") delivered to each Lender’s Commitment as then , which shall be in effect. The Revolving Credit may the respective principal amounts of each Lender's Pro Rata Share and which shall be utilized by the Borrowers in the form of Loansattached hereto as Exhibit "A", all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall not exceed the Commitment and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (a) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers would otherwise request on the same Business Day would exceed the Available Commitment, the Available Commitment will be apportioned among the Borrowers in accordance with resolutions adopted by the boards of directors of the Borrowers and the results of such apportionment will be reported in writing to the Lender by the Adviserblanks appropriately filled in.

Appears in 1 contract

Samples: Loan Agreement (JPM Co)

Revolving Credit Commitment. Subject to the terms and conditions hereofherein set forth, each Committed Lender severally agrees, on any Business Day during the Lender agrees Availability Period, to extend make Syndicated Loans to the Borrower Parties, in Dollars or in one or more Alternative Currencies, on a Revolving Credit to each Borrower which may be availed of by each Borrower several basis, at any time and from time to time during the period from and including the date hereof in an aggregate principal amount up to but such Committed Lender’s Commitment at any such time; provided, however, that after making any such Loans: (a) such Committed Lender’s Principal Obligation would not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the exceed such Committed Lender’s Commitment as then in effect. The Revolving Credit may be utilized by of such date; (b) the Borrowers in the form Principal Obligation of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall such Committed Lender’s Lender Group would not exceed the Commitment aggregate applicable Lender Group Limit of such Lender Group; and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (ac) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers Principal Obligation would otherwise request on the same Business Day would not exceed the Available Commitment. Subject to the foregoing limitation, the Available Commitment will conditions set forth in Article 7 and the other terms and conditions hereof, the Borrower Parties may borrow, repay without penalty or premium (subject to Section 4.05), and re-borrow hereunder, during the Availability Period. Each Borrowing pursuant to this Section 2.01 shall be apportioned among the Borrowers funded ratably by each Lender Group in accordance with resolutions adopted its Applicable Percentage and, if applicable, by a Committed Lender in a particular Lender Group in accordance with such Committed Lender’s Applicable Percentage. No Lender shall be obligated to fund any Loan if the boards of directors of interest rate applicable thereto hereunder would exceed the Borrowers and the results of Maximum Rate in effect with respect to such apportionment will be reported in writing to the Lender by the AdviserLoan.

Appears in 1 contract

Samples: Revolving Credit Agreement (TCW Direct Lending LLC)

Revolving Credit Commitment. Subject to the terms and conditions hereofherein set forth, each Committed Lender severally agrees, on any Business Day during the Lender agrees Availability Period, to extend make Syndicated Loans to the Borrower Parties, in Dollars or in one or more Alternative Currencies, on a Revolving Credit to each Borrower which may be availed of by each Borrower several basis, at any time and from time to time during the period from and including the date hereof in an aggregate principal amount up to but such Committed Lender’s Commitment at any such time; provided, however, that after making any such Loans: (a) such Committed Lender’s Principal Obligation would not including the Termination Date (the “Commitment Period”), at which time the commitment of the Lender to extend credit under the Revolving Credit shall expire. The maximum amount of the Revolving Credit which the Lender agrees to extend to the Borrowers shall be the exceed such Committed Lender’s Commitment as then in effect. The Revolving Credit may be utilized by of such date; (b) the Borrowers in the form Principal Obligation of Loans, all as more fully hereinafter set forth, provided that, the aggregate principal amount of Loans outstanding at any one time shall such Committed Lender’s Lender Group would not exceed the Commitment aggregate applicable Lender Group Limit of such Lender Group; and the maximum aggregate amount of all Loans made to any Borrower at any one time outstanding shall not exceed the lesser of (ac) the Commitment, and (b) such Borrower’s Borrowing Limit. During the Commitment Period, each Borrower may utilize the Revolving Credit by borrowing, repaying and reborrowing Loans in whole or in part, all in accordance with the terms and conditions of this Agreement. Loans shall be made available to the Borrowers on a first come, first served basis, provided, that, if the amount of Loans which some or all Borrowers Principal Obligation would otherwise request on the same Business Day would not exceed the Available Commitment; and (d) the Dollar Equivalent of the amount of the Principal Obligation that is denominated in Alternative Currencies would not exceed twenty-five percent (25%) of the Maximum Commitment. Subject to the foregoing limitation, the Available Commitment will conditions set forth in Section 7 and the other terms and conditions hereof, the Borrower Parties may borrow, repay without penalty or premium (subject to Section 4.05), and re-borrow hereunder, during the Availability Period. Each Borrowing pursuant to this Section 2.01 shall be apportioned among the Borrowers funded ratably by each Lender Group in accordance with resolutions adopted its Applicable Percentage and, if applicable, by a Committed Lender in a particular Lender Group in accordance with such Committed Lender’s Applicable Percentage. No Lender shall be obligated to fund any Loan if the boards of directors of interest rate applicable thereto hereunder would exceed the Borrowers and the results of Maximum Rate in effect with respect to such apportionment will be reported in writing to the Lender by the Adviser.Loan. 4890-4745-6322 v.15

Appears in 1 contract

Samples: Revolving Credit Agreement (TCW Direct Lending VII LLC)