Common use of Revolving Credit Facility Clause in Contracts

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make Advances under this uncommitted facility from time to time in Available Currencies on any Business Day during the Reinvestment Period, on a pro rata basis in each case in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such Lender’s Allocated Facility Amount and, as to all Lenders, in an aggregate principal amount that satisfies the Maximum Advance Rate Test; provided that, after making any such Advance, the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars shall not exceed the Non-Dollar Sublimit. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval Request, the Lender(s) shall have committed to fund the related Advance(s) (up to the amount(s) specified in the related Approval Request) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Pennantpark Investment Corp), Credit and Security Agreement (Pennantpark Investment Corp)

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Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under this uncommitted facility each Tranche from time to time in Available Currencies Dollars on any Business Day during the Reinvestment PeriodPeriod (or immediately thereafter pursuant to Section 8.04), on a pro rata basis based on each Lender’s unused Commitment as of such date, in each case in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such LenderXxxxxx’s Allocated Facility Amount Commitment and, as to all Lenders, in an aggregate principal amount that satisfies at any one time outstanding up to but not exceeding the Maximum Advance Rate TestAvailable Amount as then in effect; provided that, after making any such Advance, the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars each Tranche’s Tranche Minimum OC Coverage Test shall not exceed the Non-Dollar Sublimitbe satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval RequestRequest or Approved List, the Lender(s) Lenders shall have committed to fund the related Advance(s) Advances (up to the amount(s) specified in the related Approval RequestRequest or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 2 contracts

Samples: Credit and Security Agreement (Blackstone Secured Lending Fund), Credit and Security Agreement (Blackstone Secured Lending Fund)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under this uncommitted facility each Class from time to time in Available Currencies Dollars on any Business Day during the Reinvestment PeriodPeriod (or immediately thereafter pursuant to Section 8.04), on a pro rata basis based on each Lender’s unused Individual Lender Maximum Funding Amount as of such date, in each case in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such Lender’s Allocated Facility Individual Lender Maximum Funding Amount and, as to all Lenders, in an aggregate principal amount that satisfies at any one time outstanding up to but not exceeding the Maximum Advance Rate TestAvailable Amount as then in effect; provided that, after making any such Advance, the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars each Class Minimum OC Coverage Test shall not exceed the Non-Dollar Sublimitbe satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance Advance, except that, in the case of Collateral Loans approved by means of an Approval RequestRequest or Approved List, the Lender(s) Lenders shall have committed to fund the related Advance(s) Advances (up to the amount(s) specified in the related Approval RequestRequest or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 2 contracts

Samples: Credit and Security Agreement (Ares Capital Corp), Credit and Security Agreement (Ares Capital Corp)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under this uncommitted facility each Class from time to time in Available Currencies Dollars on any Business Day during the Reinvestment PeriodPeriod (or immediately thereafter pursuant to Section 8.04), on a pro rata basis in each case in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such Lender’s Allocated Facility Amount Commitment and, as to all Lenders, in an aggregate principal amount that satisfies up to but not exceeding the Maximum Advance Rate TestAvailable Amount as then in effect; provided that, after making any such Advance, the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars shall not exceed the Non-Dollar Sublimiteach Class Minimum OC Coverage Test must be satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility facility, and there each Lender’s obligation to lend is no express or implied commitment on the part of subject to (x) the Administrative Agent or any Lender to provide any Advance except that, in the case Agent’s approval of Collateral Loans approved by means of an Approval Request, the Lender(s) shall have committed to fund the related Advance(s) (up to the amount(s) specified in the related Approval RequestRequests in accordance with Section 2.02 and (y) provided that the related satisfaction of the applicable conditions precedent set forth in Article III are satisfiedIII.

Appears in 2 contracts

Samples: Credit and Security Agreement (OFS Capital Corp), Credit and Security Agreement (OFS Capital Corp)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under this uncommitted facility each Tranche from time to time in Available Currencies Dollars on any Business Day during the Reinvestment PeriodPeriod (or immediately thereafter pursuant to Section 8.04), on a pro rata basis based on each Lender’s unused Individual Lender Maximum Funding Amount as of such date, in each case in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such Lender’s Allocated Facility Individual Lender Maximum Funding Amount and, as to all Lenders, in an aggregate principal amount that satisfies at any one time outstanding up to but not exceeding the Maximum Advance Rate TestAvailable Amount as then in effect; provided that, after making any such Advance, the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars each Tranche’s Tranche Minimum OC Coverage Test shall not exceed the Non-Dollar Sublimitbe satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval RequestRequest or Approved List, the Lender(s) Lenders shall have committed to fund the related Advance(s) Advances (up to the amount(s) specified in the related Approval RequestRequest or Approved List) provided that the related conditions precedent set forth in Article III are satisfiedsatisfied or waived.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone Private Credit Fund)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under this uncommitted facility each Tranche from time to time in Available Currencies Dollars on any Business Day during the Reinvestment PeriodPeriod (or immediately thereafter pursuant to Section 8.04), on a pro rata basis based on each Lender’s unused Commitment as of such date, in each case in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such Lender’s Allocated Facility Amount Commitment and, as to all Lenders, in an aggregate principal amount that satisfies at any one time outstanding up to but not exceeding the Maximum Advance Rate TestAvailable Amount as then in effect; provided that, after making any such Advance, the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars each Tranche’s Tranche Minimum OC Coverage Test shall not exceed the Non-Dollar Sublimitbe satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval RequestRequest or Approved List, the Lender(s) Lenders shall have committed to fund the related Advance(s) Advances (up to the amount(s) specified in the related Approval RequestRequest or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone / GSO Secured Lending Fund)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under this uncommitted facility each Tranche from time to time in Available Currencies Dollars on any Business Day during the Reinvestment PeriodPeriod (or immediately thereafter pursuant to Section 8.04), on a pro rata basis basisbased on each Lender’s unused Commitment as of such date, in each case in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such LenderXxxxxx’s Allocated Facility Amount Commitment and, as to all Lenders, in an aggregate principal amount that satisfies at any one time outstanding up to but not exceeding the Maximum Advance Rate TestAvailable Amount as then in effect; provided that, after making any such Advance, the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars each Tranche’s Tranche Minimum OC Coverage Test shall not exceed the Non-Dollar Sublimitbe satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval RequestRequest or Approved List, the Lender(s) Lenders shall have committed to fund the related Advance(s) Advances (up to the amount(s) specified in the related Approval RequestRequest or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone Secured Lending Fund)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make Advances under this uncommitted facility advances to the Borrower (each, an “Advance” and each borrowing on any single day, a “Borrowing”) from time to time in Available Currencies on any Business Day during the Reinvestment Periodperiod from the Closing Date until the Commitment Termination Date, and to make Net Aggregate Exposure Advances to the Borrower from time to time on any Business Day during the period from the Commitment Termination Date until the first date on which the Net Aggregate Exposure Amount has been permanently reduced to zero as set forth in a pro rata basis written notice from the Collateral Servicer to the Administrative Agent and the Trustee, in each case case, in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such Lender’s Allocated Facility Amount Commitment and, as to all Lenders, in an aggregate principal amount that satisfies up to but not exceeding the Maximum Advance Rate TestTotal Commitment; provided that, after making that no such Advances (including Net Aggregate Exposure Advances) and no prepayment of any such Advance, Advances shall be made on the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars shall Business Day immediately preceding (but not exceed the Non-Dollar Sublimitincluding) any Payment Date. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval Request, the Lender(s) shall have committed to fund the related Advance(s) (up to the amount(s) specified in the related Approval Request) provided that the related conditions precedent set forth in Article III are satisfied2.05.

Appears in 1 contract

Samples: Credit and Security Agreement (NewStar Financial, Inc.)

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Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under this uncommitted facility each Tranche from time to time in Available Currencies Dollars on any Business Day during the Reinvestment PeriodPeriod (or immediately thereafter pursuant to Section 8.04), on a pro rata basis in each case in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such Lender’s Allocated Facility Amount Commitment and, as to all Lenders, in an aggregate principal amount that satisfies up to but not exceeding the Maximum Advance Rate TestAvailable Amount as then in effect; provided that, after making any such Advance, the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars each Tranche’s Tranche Minimum OC Coverage Test shall not exceed the Non-Dollar Sublimitbe satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval RequestRequest or Approved List, the Lender(s) Lenders shall have committed to fund the related Advance(s) Advances (up to the amount(s) specified in the related Approval RequestRequest or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone / GSO Secured Lending Fund)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower a committedan uncommitted revolving credit facility providing for Advances under this uncommitted facility each Tranche from time to time in Available Currencies Dollars on any Business Day during the Reinvestment PeriodPeriod (or immediately thereafter pursuant to Section 8.04), on a pro rata basis in each case in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such Lender’s Allocated Facility Amount Commitment and, as to all Lenders, in an aggregate principal amount that satisfies up to but not exceeding the Maximum Advance Rate TestAvailable Amount as then in effect; provided that, after making any such Advance, the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars each Tranche’s Tranche Minimum OC Coverage Test shall not exceed the Non-Dollar Sublimitbe satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an a committed facility; provided that the Lenders shall only be obligated to lend to the extent that (x) eitheran uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or approvesor any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval RequestRequest or Approved List, the Lender(s) Lenders shall have committed to fund the related Advance(s) Advances (up to the amount(s) specified in the related Approval RequestRequests or the Advance is for the purpose of consummating a Macomb Merger and (y) theRequest or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone / GSO Secured Lending Fund)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under this uncommitted facility each Tranche from time to time in Available Currencies Dollars on any Business Day during the Reinvestment PeriodPeriod (or immediately thereafter pursuant to Section 8.04), on a pro rata basis in each case in an aggregate principal amount at any one time outstanding (calculated as the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such Lender’s Allocated Facility Amount Commitment and, as to all Lenders, in an aggregate principal amount that satisfies up to but not exceeding the Maximum Advance Rate TestAvailable Amount as then in effect; provided that, after making any such Advance, the Dollar Equivalent of the aggregate principal amount of all Advances denominated in an Available Currency other than Dollars each Tranche’s Tranche Minimum OC Coverage Test shall not exceed the Non-Dollar Sublimitbe satisfied. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance except that, in the case of Collateral Loans approved by means of an Approval RequestRequest or Approved List, the Lender(s) Lenders shall have committed to fund the related Advance(s) Advances (up to USActive 53861575.5 -54- the amount(s) specified in the related Approval RequestRequest or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 1 contract

Samples: Credit and Security Agreement (Blackstone / GSO Secured Lending Fund)

Revolving Credit Facility. On the terms and subject to the conditions hereinafter set forth, including Article III, each Lender severally agrees to make available to the Borrower an uncommitted revolving credit facility providing for Advances under this uncommitted facility from time to time in Available Currencies on any Business Day during the Reinvestment PeriodPeriod (or immediately thereafter pursuant to Section 8.04), on a pro rata basis based on each Lender’s unused Individual Lender Maximum Funding Amount as of such date, in each case in an aggregate principal amount at any one time outstanding (calculated as up to but not exceeding the Dollar Equivalent of such aggregate principal amount) up to but not exceeding such Lender’s Allocated Facility Individual Lender Maximum Funding Amount and, as to all Lenders, in an aggregate principal amount that satisfies the Maximum Advance Rate Test; provided that, after making at any such Advance, one time outstanding up to but not exceeding the Dollar Equivalent of the aggregate principal amount of all Advances denominated Maximum Available Amount as then in an Available Currency other than Dollars shall not exceed the Non-Dollar Sublimiteffect. Within such limits and subject to the other terms and conditions of this Agreement, the Borrower may borrow (and re-borrow) Advances under this Section 2.01 (each, a “Borrowing”) and prepay Advances under Section 2.06. Notwithstanding anything in this Agreement to the contrary, the parties hereto acknowledge that this is an uncommitted facility and there is no express or implied commitment on the part of the Administrative Agent or any Lender to provide any Advance Advance, except that, in the case of Collateral Loans approved by means of an Approval RequestRequest or Approved List, the Lender(s) Lenders shall have committed to fund the related Advance(s) Advances (up to the amount(s) specified in the related Approval RequestRequest or Approved List) provided that the related conditions precedent set forth in Article III are satisfied.

Appears in 1 contract

Samples: Credit and Security Agreement (Morgan Stanley Direct Lending Fund)

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