Common use of Revolving Credit Loans Clause in Contracts

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as of the date of such request.

Appears in 1 contract

Samples: Credit Agreement (Microfinancial Inc)

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Revolving Credit Loans. (a) Upon Subject to the terms and subject to the conditions of set forth in this Credit Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) Lenders severally agrees to lend to the Borrowers at Borrower and the Borrowers’ request Borrower may borrow, repay, and reborrow from time to time from and after the Closing Date and prior until the Maturity Date upon notice by the Borrower to the Maturity DateAdministrative Agent given in accordance with §2.6, provided that such sums denominated in Dollars as are requested by the Total Outstandings Borrower up to a maximum aggregate amount outstanding (after giving effect to all requested amounts requested) at any one time equal to such Revolving Credit Loans andLender’s Commitment minus such Revolving Credit Lender’s Commitment Percentage of (i) the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations plus (ii) the outstanding amount of Swing Line Loans, with respect to provided that the sum of the outstanding amount of the Revolving Credit Loans made on (after giving effect to all amounts requested) plus the Closing Date, treating loans Maximum Drawing Amount and all Unpaid Reimbursement Obligations plus the outstanding under the Existing Credit Agreement as not being outstanding for this purpose) amount of Swing Line Loans shall not at any time exceed the lesser of (iA) the Total Commitment at such time and (B) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding at such time. The Revolving Credit Loans shall be made by pro rata in accordance with each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that the conditions set forth above and in Sections 3.1 §11 and 3.2 §12, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and §12, in the case of all other Revolving Credit Loans, have been satisfied as of on the date of such request. The Revolving Credit Loans advanced on the Closing Date shall be made by the Revolving Credit Lenders as Base Rate Loans, subject to conversion after the Closing Date in accordance with §2.7.

Appears in 1 contract

Samples: Revolving Credit Agreement (CAI International, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject The Existing Lenders made one or more advances to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, Borrower prior to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior in accordance with the terms of the Existing Credit Agreement (each such loan, to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made extent outstanding on the Closing Date, treating loans outstanding under the an “Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s CommitmentLoan”). Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the sum of such Lender’s Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed an amount equal to the lesser of (i) the Total Commitment or (ii) the then-current Borrowing Base Availability. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 §§10 and 3.2 11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Commitment Percentage of the Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Four Springs Capital Trust)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions set forth in this Agreement and the Post Closing Letter, each of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.8, such sums as are requested by the Borrower for the purposes set forth in §2.10 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of (A) the Borrowing Base Availability minus (B) the amount of all outstanding Revolving Credit Exposure; provided, that, in all events no Default or Event of Default shall have occurred and be continuing. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of Borrower set forth in Sections 3.1 §10 and 3.2 §11 have been satisfied (unless waived by Agent in writing) on the date of such request (or if such condition is required to have been satisfied only as of the initial Closing Date, that such condition was satisfied as of the Closing Date), or to the extent all of the conditions required of Xxxxxxxx xxx xxxxx xx §00 and §11 are not satisfied or deemed satisfied (unless waived by Agent in writing) as of the date of such request, such shall not result in any Material Adverse Effect. The Agent may assume that the conditions in §10 and §11 have been satisfied (unless waived by Agent in writing) unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied or waived. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note or its Commitment, as applicable.

Appears in 1 contract

Samples: Credit Agreement (Plymouth Industrial REIT Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7,2.6, such sums as are requested by the Borrower for the purposes set forth in §2.92.8 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving CreditLender’s Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans, Term Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment. or cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Behringer Harvard Reit I Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Unencumbered Pool Availability minus (B) the sum of (1) the amount of all Outstanding Revolving Credit Loans and Term Loans, and (2) the aggregate amount of all Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the sum of the Outstanding Revolving Credit Loans (after giving effect to all amounts requested) and the aggregate amount of all Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment, and the aggregate sum of the Outstanding Revolving Credit Loans (after giving effect to all amounts requested), Outstanding Term Loans and the aggregate amount of all Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenants set forth in §9.1 or §9.2. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11, as applicable, have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11, as applicable, have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Monogram Residential Trust, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) the sum of such Lender’s Commitment and (ii) such Lender’s Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time (i) exceed the lesser of (A) Borrowing Base Availability and (B) the Total Commitment or (ii) cause a violation of the covenants set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 §§10 and 3.2 11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Commitment Percentage of the Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (American Realty Capital Healthcare Trust Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.6, such sums as are requested by the Borrower for the purposes set forth in §2.8 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender’s Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing or would arise as a result thereof; and provided, further, that the outstanding principal amount of the Revolving Credit Loans and Swing Loans and the Letter of Credit Liabilities (after giving effect to all amounts requested), shall not at any time exceed the Total Commitment or cause a violation of the covenants set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 and 3.2 required of Xxxxxxxx xxx xxxxx xx §00 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Mid-America Apartments, L.P.)

Revolving Credit Loans. (a) Upon Through and including the Revolving Credit Termination Date, each Bank severally agrees, on the terms and subject to the conditions of set forth in this Agreement, Agreement and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointlyits Note, to make revolving credit loans (the “Revolving Credit Loans”) Loans to the Borrowers at the Borrowers’ request Company from time to time in amounts not to exceed in the aggregate at any one time outstanding the amount of its Commitment; provided, however, that if any unmatured Advances are outstanding at the effective date of a change in any Bank's Commitment pursuant to SECTION 2.7, each Bank instead severally agrees, on the terms and conditions set forth in this Agreement, to make Loans from and after the Closing Date and time to time prior to the Maturity Datematurity of such unmatured Advances in amounts not to exceed in the aggregate for all such Loans of such Bank the amount of such Bank's ratable share (determined in proportion to its respective Commitment, provided as so changed) of the excess of (i) the amount of the Aggregate Commitment, over (ii) the aggregate principal outstanding amount of all such unmatured Advances of the Banks (assuming for purposes of this clause (ii) that the Total Outstandings (all other such Banks' shares of such unmatured Advances were made and have not been disproportionately prepaid); and provided, further that no Loan shall be made if, after giving effect to thereto, the aggregate outstanding principal of all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time would exceed the lesser of (iA) the Aggregate Commitment or (B) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s CommitmentBase. Subject to the terms and conditions of this Agreement, the Borrowers Company may borrow, repay, prepay repay and reborrow amounts, up to at any time through the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan Termination Date. The obligations of any Bank to make Loans hereunder shall constitute a representation and warranty by cease at 4:01 p.m. (Chicago time) on the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as of the date of such requestRevolving Credit Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Chicago Mercantile Exchange Holdings Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Commitment and (ii) such Lender’s Commitment Percentage of the Borrowing Base Availability minus the aggregate amount of Letter of Credit Liabilities and Swing Loans outstanding; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or the Borrowing Base Availability. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 §§10 and 3.2 11 have been satisfied as of or waived in writing on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Commitment Percentage of the Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Management Agreement (New Senior Investment Group Inc.)

Revolving Credit Loans. (a) Upon Subject to the terms and subject to the conditions hereof and provided that there exists no Default or Event of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers hereinDefault, each of the Lenders agrees, Lender severally and not jointly, agrees to make revolving credit one or more loans (each a "Revolving Credit Loan" and collectively the "Revolving Credit Loans”) "), as requested by Borrower in accordance with the provisions of Section 2.3 hereof, to the Borrowers at the Borrowers’ request Borrower from time to time from on and after the Closing date hereof and up to, but not including, the Termination Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of in an aggregate amount (i) which, when added to all outstanding Letter of Credit Obligations, will not exceed the Borrowing Base Aggregate Revolving Credit Commitment, and (ii) the Available Commitmentwhich, provided, further that when added to the sum of the aggregate then outstanding principal amount balance of the Term Loan plus all then outstanding Letter of Credit ---- Obligations, will not exceed Borrowing Availability as in effect as such time. The Revolving Credit Loans made by each of the Lenders shall be evidenced by a promissory note, substantially in the form of Exhibit A attached hereto, payable --------- to each Lender shall not at in the principal face amount of such Lender's Revolving Credit Commitment (together with any time (after giving effect and all amendments, modifications and supplements thereto, and any renewals, replacements or extensions thereof, in whole or in part, the "Revolving Credit Notes"). Prior to all requested the Termination Date, Revolving Credit Loans andmay be borrowed, repaid and reborrowed in accordance with respect to the terms hereof. All Revolving Credit Loans made shall become due and payable in full on the Closing Termination Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as of the date of such request.

Appears in 1 contract

Samples: Loan and Security Agreement (Pediatric Services of America Inc)

Revolving Credit Loans. (a) Upon Subject to the provisions of §2.4 and the other terms and subject to the conditions of set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) Banks severally agrees to lend to the Borrowers at Borrower, and the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers Borrower may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from each Bank from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.4, such sums in Dollars or in one or more Alternative Currencies as are requested by the Borrower up to Section 2.3. Each request for a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank’s Revolving Credit Commitment; provided that, after giving effect to any such borrowing, (i) the Outstanding Amount of all Revolving Credit Loans and Letter of Credit Obligations shall not at any time exceed the Total Revolving Credit Commitment and (ii) the Revolving Credit Exposure of any Bank shall not at any time exceed such Bank’s Revolving Credit Commitment, and provided, further, that at the time the Borrower requests a Revolving Credit Loan hereunder shall constitute a representation and warranty by after giving effect to the Borrowers that making thereof: (i) in the case of any borrowing, all of the conditions set forth in Sections 3.1 §13 (and 3.2 in the case of any initial borrowing or other extension of credit on the Closing Date, also the conditions in §12) have been satisfied as of met at the date time of such request, and (ii) there has not occurred and is not continuing (or will not occur by reason thereof) any Default or Event of Default; it being acknowledged and agreed that the Borrower shall be permitted to request and borrow Loans if a Non-Material Breach (rather than a Default or Event of Default) exists.

Appears in 1 contract

Samples: Credit Agreement (Boston Properties LTD Partnership)

Revolving Credit Loans. During all times that a Base Rate Election is in effect, interest shall accrue on the principal amount of the Base Rate Revolving Credit Portion outstanding at the end of each day at a fluctuating rate per annum equal to one-quarter of one percent (1/4%) plus the Base Rate; provided, however, that, from and after December 31, 1998, the foregoing rate of interest shall be decreased (a) Upon by one-quarter of one percent (1/4%) per annum if no Default or Event of Default exists and if Borrower's financial statements for any Trailing Twelve Month Period ended on or after December 31, 1998 and delivered to Lender pursuant to subsection 8.1.3 indicate that Borrower achieved a Debt Service Coverage Ratio of 1.0:1.0, or greater, for the terms Trailing Twelve Month Period for which such statements were issued, and subject (b) by an additional one-quarter of one percent (1/4%) per annum if no Default or Event of Default exists and if Borrower's financial statements for any Trailing Twelve Month Period ended on or after December 31, 1998 and delivered to Lender pursuant to subsection 8.1.3 indicate that Borrower achieved a Debt Service Coverage Ratio of 1.2:1.0, or greater, for the Trailing Twelve Month Period for which such statements were issued. The foregoing proviso notwithstanding, if the subsequently issued audited financial statements for Borrower disclose that the required Debt Service Coverage Ratio was not, in fact, attained for the relevant period, then the interest rate shall be retroactively readjusted to the conditions rate that would have been in effect if the adjustment had not been made. The rate of this Agreementinterest shall increase or decrease by an amount equal to any increase or decrease in the Base Rate, and in reliance upon the representations, warranties and covenants effective as of the Borrowers herein, each opening of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made business on the Closing Dateday that any such change in the Base Rate occurs. During all times that a LIBOR Election is in effect, treating loans outstanding under interest shall accrue on the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of the LIBOR Portions outstanding Revolving Credit Loans made by at the end of each Lender shall not day at any time a rate per annum equal to two and three-quarters percent (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as of the date of such request.2-

Appears in 1 contract

Samples: Loan and Security Agreement (Peregrine Real Estate Trust)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Unencumbered Asset Pool Availability; and provided, further that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenants set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (QTS Realty Trust, Inc.)

Revolving Credit Loans. (a) Upon Subject to the terms and subject to the conditions of set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) Lenders severally agrees to lend to the Borrowers at the Borrowers’ request and any Borrower may borrow, repay, and reborrow from time to time from and after the Closing Date and prior until the Maturity Date upon notice by the applicable Borrower to the Maturity DateAdministrative Agent given in accordance with §2.6, provided that such sums denominated in Dollars as are requested by the Total Outstandings applicable Borrowers up to a maximum aggregate amount outstanding (after giving effect to all requested amounts requested) at any one time equal to such Revolving Credit Loans andLender's Commitment minus such Revolving Credit Lender's Commitment Percentage of (i) the sum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations plus (ii) the outstanding amount of Swing Line Loans, with respect to provided the sum of the outstanding amount of the Revolving Credit Loans made on (after giving effect to all amounts requested) plus the Closing Date, treating loans Maximum Drawing Amount and all Unpaid Reimbursement Obligations plus the outstanding under the Existing Credit Agreement as not being outstanding for this purpose) amount of Swing Line Loans shall not at any time exceed the lesser of (iA) the Total Commitment at such time and (B) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding at such time. The Revolving Credit Loans shall be made by pro rata in accordance with each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth above and in Sections 3.1 §11 and 3.2 §12, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and §12, in the case of all other Revolving Credit Loans, have been satisfied as of on the date of such request. The Revolving Credit Loans advanced on the Closing Date shall be made by the Revolving Credit Lenders as Base Rate Loans, subject to conversion after the Closing Date in accordance with §2.7.

Appears in 1 contract

Samples: Revolving Credit Agreement (CAI International, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Commitment and (ii) such Lender’s Commitment Percentage of the Borrowing Base Availability (giving effect to the amount of all Outstanding Revolving Credit Loans and Swing Loans, and the aggregate amount of Letter of Credit Liabilities); provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the aggregate outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), outstanding principal amount of Swing Loans and aggregate Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Dupont Fabros Technology, Inc.)

Revolving Credit Loans. (aai) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow), from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Revolving Credit Commitment and (ii) such Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans, Term Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time (i) exceed the lesser of (A) Borrowing Base Availability and (B) the Total Commitment or (ii) cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 and 3.2 §11 (and, in the case of any request for a Revolving Credit Loan hereunder on the Closing Date, §10) have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Healthcare Trust, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow), from time to time between the Closing Date and the Revolving Credit Maturity Date in Dollars or in any Alternative Currency requested by the Borrower upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7(a), such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Revolving Credit Commitment and (ii) such Lender’s Revolving Credit Commitment Percentage of the maximum amount which, when added to the sum of (1) the amount of all Outstanding Revolving Credit Loans, Term Loans and Swing Loans, (2) the aggregate amount of Letter of Credit Liabilities and (3) the amount of all other Unsecured Indebtedness of REIT and its Subsidiaries, would not cause a violation of the covenants set forth in §§9.3 and 9.4; provided, that, (X) the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment, and (Y) in all events no Default or Event of Default shall have occurred and be continuing. Each Revolving Credit Loan shall be made of the same Currency and Type and made by the Revolving Credit Lenders pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 and 3.2 §11 (and, in the case of any request for a Revolving Credit Loan hereunder on the Closing Date, §10) have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Global Net Lease, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the sum of such Lender’s Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 §§10 and 3.2 11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Commitment Percentage of the Commitments and the principal face amount of its Revolving Credit Note. Notwithstanding anything in this Agreement to the contrary, the Borrower shall not be entitled to obtain a disbursement of the Loan or a Letter of Credit for, and shall not use any of the proceeds of any Loan or any Letter of Credit, directly or indirectly, in whole or in part, to acquire Real Estate or an interest therein unless simultaneously therewith the terms of §5.3 are complied with and Agent receives the documents and items required thereunder.

Appears in 1 contract

Samples: Credit Agreement (GTJ REIT, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7(a), such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Revolving Credit Commitment and (ii) such Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Unencumbered Pool Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans, Term Loans and Swing Loans, (2) the aggregate amount of Letter of Credit Liabilities and (3) the aggregate amount of all other Unsecured Indebtedness; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities plus the aggregate amount of all other Unsecured Indebtedness shall not at any time cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Bxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Senior Unsecured Credit Agreement (American Realty Capital Healthcare Trust Inc)

Revolving Credit Loans. (a) Upon Subject to the provisions of §2.5 and the other terms and subject to the conditions of set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, agrees to make revolving credit loans (the “Revolving Credit Loans”) lend to the Borrowers at Borrower and the Borrowers’ request Borrower may borrow, repay, and reborrow from each Lender from time to time from and after the Closing Date and prior up to but not including the Maturity Date upon notice by the Borrower to the Maturity DateAdministrative Agent given in accordance with §2.5 hereof, provided that such sums as are requested by the Total Outstandings Borrower up to a maximum aggregate principal amount outstanding (after giving effect to all requested Revolving Credit Loans and, with respect amounts requested) at any one time equal to such Lender’s Commitment minus such Lender’s Commitment Percentage of the Maximum Drawing Amount; provided that the sum of the outstanding amount of the Revolving Credit Loans made on and Swing Loans (after giving effect to all amounts requested) and the Closing Date, treating loans outstanding under Competitive Bid Loans plus the Existing Credit Agreement as not being outstanding for this purpose) Maximum Drawing Amount shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Total Commitment in effect at such time. The Revolving Credit Loans shall be made by pro rata in accordance with each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3Commitment Percentage. Each request for a Revolving Credit Loan hereunder or Swing Loan made pursuant to §2.5 hereof shall constitute a representation and warranty by the Borrowers Borrower that the conditions set forth in Sections 3.1 and 3.2 §10 have been satisfied as of the Closing Date and that the conditions set forth in §11 have been satisfied on the date of such requestrequest and will be satisfied on the proposed Drawdown Date of the requested Revolving Credit Loan or Swing Loan, provided that the making of such representation and warranty by the Borrower shall not limit the right of any Lender not to lend if such conditions have not been met. No Revolving Credit Loan or Swing Loan shall be required to be made by any Lender, or the Swing Lender, as the case may be, unless all of the conditions contained in §10 have been satisfied as of the Closing Date and all of the conditions set forth in §11 have been met at the time of any request for a Revolving Credit Loan or Swing Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (Mack Cali Realty L P)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions set forth in this Agreement and the Post Closing Letter, each of this Agreementthe Revolving Credit Lenders severally agrees to lend to the Borrowers, and the Borrowers may borrow, repay, prepay borrow (and reborrow amounts, up to the limits imposed by this Section 2.1, repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrowers to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrowers for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that all of the conditions required of Borrowers set forth in Sections 3.1 §10 and 3.2 §11 have been satisfied on the date of such request, and to the extent all of the conditions required of Borrowers set forth in §10 and §11 are not satisfied or deemed satisfied as of the date of such request, such shall not result in any Material Adverse Effect. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrowers in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note or its Commitment, as applicable.

Appears in 1 contract

Samples: Credit Agreement (CoreSite Realty Corp)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the sum of such Revolving Credit Lender’s Revolving Credit Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount (after giving effect to all amounts requested) of the US_ACTIVE\121755035\V-6 Revolving Credit Loans, Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 §§10 and 3.2 11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note. Notwithstanding anything in this Agreement to the contrary, the Borrower shall not be entitled to obtain a disbursement of any Revolving Credit Loan or a Letter of Credit for, and shall not use any of the proceeds of any Revolving Credit Loan or any Letter of Credit, directly or indirectly, in whole or in part, to acquire Real Estate or an interest therein or to refinance indebtedness secured by such Real Estate, unless simultaneously therewith the terms of §5.3 are complied with and Agent receives the documents and items required thereunder.

Appears in 1 contract

Samples: Credit Agreement (GTJ Reit, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) the sum of such Revolving Credit Lender’s Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Unencumbered Pool Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans, Term Loans and Swing Loans, (2) the aggregate amount of Letter of Credit Liabilities and (3) the aggregate amount of all other Unsecured Debt; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that (X) the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment, (Y) the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment, and (Z) the outstanding principal amount of the Revolving Credit Loans (after giving effect to the amount requested), Term Loans, Swing Loans and Letter of Credit Liabilities plus the aggregate amount of all other Unsecured Debt shall not at any time cause a violation of the covenants set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Carter Validus Mission Critical REIT, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) the sum of such Revolving Credit Lender’s Revolving Credit Commitment minus the Holdback and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans, Swing Loans and Term Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the sum of the Total Revolving Credit Commitment minus the Holdback, and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans, Term Loans and Letter of Credit Liabilities shall not at any time exceed the sum of the Total Commitment minus the Holdback or cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Behringer Harvard Reit I Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with ss.2.7, such sums as are requested by the Borrower for the purposes set forth in ss.2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender's Revolving Credit Commitment and (ii) such Revolving Credit Lender's Revolving Credit Commitment Percentage of the sum of (A) the Credit Event Maximum Outstanding Amount minus (B) the amount of all Outstanding Term Loans; provided, that, in all events no Non-Advance Condition or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) shall not at any time exceed the total Maximum Commitment Amount plus the outstanding Term Loans, if any, or cause a violation of the covenant set forth in ss.9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 ss.10 and 3.2 ss.11 have been satisfied as of on the date of such request. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Master Credit Agreement (Entertainment Properties Trust)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Commitment and (ii) such Lender’s Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time (i) exceed the lesser of (A) Borrowing Base Availability and (B) the Total Commitment or (ii) cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Bxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Commitment Percentage of the Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (American Realty Capital Healthcare Trust II, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with Section 2.7, such sums as are requested by the Borrower for the purposes set forth in Section 2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender's Revolving Credit Commitment and (ii) such Revolving Credit Lender's Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base minus (B) the sum of (1) the amount of all Outstanding Term Loans and (2) the aggregate Letters of Credit Outstanding; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letters of Credit Outstanding shall not at any time exceed the total Revolving Credit Commitment or cause a violation of the covenant set forth in Section 2.39.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender's Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 Section 10 and 3.2 Section 11 have been satisfied as of on the date of such request. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Master Credit Agreement (JDN Realty Corp)

Revolving Credit Loans. (an) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) the sum of such Lender’s Commitment and (ii) such Lender’s Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the lesser of (i) Borrowing Base Availability and (ii) the Total Commitment. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 §§10 and 3.2 11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Commitment Percentage of the Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (NorthStar Healthcare Income, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s CommitmentThe Commitments. Subject to the terms and conditions and --------------- relying upon the representations and warranties herein set forth, each Bank severally agrees (such agreement being herein called such Bank's "Commitment") ---------- to make loans, some of which may be Rollover Loans, to the Borrower (the "Revolving Credit Loans") at any time or from time to time on or after the ---------------------- Effective Date and to but not including the Expiration Date in an aggregate principal amount not exceeding at any one time outstanding such Bank's Current Commitment at such time. Each Bank's "Current Commitment" at any time shall be ------------------ equal to the amount set forth opposite the name of such Bank on Exhibit I hereto, as such amount may have been reduced under Section 2.6 at such time. The Banks shall have no obligation to make Revolving Credit Loans hereunder on or after the Expiration Date. The failure of any Bank to make a Revolving Credit Loan shall not relieve any other Bank of its obligation to lend hereunder, but neither the Administrative Agent nor any Bank shall be responsible for the failure of any other Bank to make a Revolving Credit Loan. The failure of any Bank to comply with the terms of this Agreement will not relieve any other Bank or the Borrower of its obligations under this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date Revolving Credit Notes and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as of the date of such requestRelated Documents.

Appears in 1 contract

Samples: Agreement (Tele Communications Inc /Co/)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7(a), such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) the sum of such Revolving Credit Lender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans, Term Loans and Swing Loans, plus (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time (i) exceed the lesser of (A) Borrowing Base Availability and (B) the Total Commitment or (ii) cause a violation of the covenants set forth in §7.19 or §9.1, nor shall the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities exceed the Total Revolving Credit Commitment. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 §§10 and 3.2 11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Modiv Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) the sum of such Revolving Credit Lender’s Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment, and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenants set forth in §9.1, §9.9 or §9.10. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Carter Validus Mission Critical REIT, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of and relying upon the representations and warranties set forth in this Agreement, the Borrowers may borrowNotes and the other Loan Documents, repay, prepay and reborrow amounts, up the Banks severally (but not jointly) agree to make loans in either Dollars or one or more Optional Currencies (the "Revolving Credit Loans") to the limits imposed by this Section 2.1, Borrower at any time or from time to time between on or after the Closing Date and to and including the Maturity Business Day immediately preceding the Expiry Date upon request given in an aggregate Dollar Equivalent principal amount which, when combined with the aggregate principal amount of all outstanding Swing Line Loans and the aggregate Dollar Equivalent amount of Letters of Credit Outstanding, shall not exceed at any one time outstanding the Revolving Credit Facility Commitment; provided, however, that (i) no Bank shall be required to make Revolving Credit Loans (or participate in the Agent pursuant issuance of Letters of Credit) in an aggregate Dollar Equivalent principal amount outstanding at any one time exceeding such Bank's Commitment, (ii) no Base Rate Loan shall be made in an Optional Currency, (iii) in the event that any Foreign Borrower has joined this Agreement in accordance with the terms and provisions provided for herein, after giving effect to Section 2.3. Each request any Revolving Credit Loan, the aggregate amount of Revolving Credit Loans made to and Letters of Credit Outstanding issued for a the account of all Foreign Borrowers shall not exceed the Dollar Equivalent amount of Three Hundred Fifty Million and 00/100 Dollars ($350,000,000.00) (the "Foreign Borrower Sublimit"), and (iv) after giving effect to any Revolving Credit Loan hereunder the aggregate 270034751 270134563 amount of Revolving Credit Loans and Letters of Credit Outstanding denominated in Optional Currencies shall constitute a representation not exceed the Dollar Equivalent amount of Three Hundred Fifty Million and warranty by 00/100 Dollars ($350,000,000.00) (the Borrowers that "Optional Currency Sublimit"). The Revolving Credit Loans shall be made pro rata in accordance with each Bank's Commitment Percentage. Within the conditions limits of time and amount set forth in Sections 3.1 this Section 2.01, and 3.2 have been satisfied as subject to the provisions of this Agreement including, without limitation, the Banks' right to demand repayment of the Revolving Credit Loans upon the occurrence of an Event of Default, the Borrower may borrow, repay and reborrow under this Section 2.01; provided, however, that if the Borrower prepays any Term SOFR Loan, Eurocurrency Rate Loan, BBSW Loan or CDOR Loan on a day other than the last day of the applicable Interest Period for such Loan, or if the Borrower prepays any Daily Simple XXXXX Loan on a day other than an interest payment date therefor specified in Section 2.04, then the Borrower shall comply with the terms and conditions of Section 2.12(c) with respect to such requestprepayment.

Appears in 1 contract

Samples: Loan Agreement (Matthews International Corp)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, Except with respect to the initial Revolving Credit Loans made Loan on the Closing Date, treating loans outstanding under the Existing Borrower shall give to the Agent written notice executed by an Authorized Officer in the form of Exhibit D-1 hereto (or telephonic notice confirmed in writing in the form of Exhibit D-1 hereto) of each Revolving Credit Agreement as not being outstanding for this purposeLoan requested hereunder (a “Loan Request”) by 11:00 a.m. (Cleveland time) one (1) Business Day prior to the proposed Drawdown Date with respect to Base Rate Loans and three (3) Business Days prior to the proposed Drawdown Date with respect to SOFR Rate Loans. Each such notice shall not at any time exceed specify with respect to the lesser requested Revolving Credit Loan the proposed principal amount of such Revolving Credit Loan, the Type of Revolving Credit Loan and the Drawdown Date. Each such notice shall also contain (i) a general statement as to the Borrowing Base purpose for which such advance shall be used (which purpose shall be in accordance with the terms of §2.9) and (ii) a certification by the Available Commitmentchief executive officer, provided, further president or chief financial officer of the REIT on behalf of Borrower that the sum of Borrower and Guarantors are and will be in compliance with all covenants under the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (Loan Documents after giving effect to all the making of such Revolving Credit Loan. Promptly upon receipt of any such notice, the Agent shall notify each of the Revolving Credit Lenders thereof. Each such Loan Request shall be irrevocable and binding on the Borrower and shall obligate the Borrower to accept the Revolving Credit Loan requested from the Revolving Credit Lenders on the proposed Drawdown Date. Nothing herein shall prevent the Borrower from seeking recourse against any Revolving Credit Lender that fails to advance its proportionate share of a requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement Loan as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of required by this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request Loan Request shall be for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as of the date of such requestMinimum Borrowing Amount.

Appears in 1 contract

Samples: Credit Agreement (Modiv Inc.)

Revolving Credit Loans. (a1) Upon the terms and subject to the conditions of set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers Borrower herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”"REVOLVING CREDIT LOANS") to the Borrowers Borrower at the Borrowers’ Borrower's request from time to time from and after the Closing Date and prior to the Borrowing Base Maturity Date, provided PROVIDED that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purposeand Swing Line Advances) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Total Commitment, providedand PROVIDED, further FURTHER that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purposeand Swing Line Advances) exceed such Lender’s 's Commitment, and PROVIDED, FURTHER, that the sum of the aggregate principal amount of outstanding Revolving Credit Loans based on Eligible Leases having original terms of more than 60 months shall not at any time (after giving effect to all requested Revolving Credit Loans) exceed 10% of the aggregate principal amount of all outstanding Revolving Credit Loans. Subject to the terms and conditions of this Agreement, the Borrowers Borrower may borrow, repay, repay and prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Borrowing Base Maturity Date upon request given to the Agent pursuant to Section 2.32.4. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that the conditions set forth in Sections 3.1 Section 3.1, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and Section 3.2 in the case of all other Revolving Credit Loans, have been satisfied as of the date of such request.

Appears in 1 contract

Samples: Revolving Credit Agreement (Microfinancial Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions 1. The aggregate principal amount of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans to be made on by Lender is Two Million Two Hundred Thousand Dollars ($2,200,000) (the Closing Date, treating loans outstanding under the Existing "Revolving Credit Agreement as not being outstanding for this purposeLoan Commitment") shall not at any time exceed the lesser of minus (without duplication) (i) the Borrowing Base and Obligations of Borrower hereunder (other than the Term Loan) minus (ii) the Available Commitment, provided, further that the sum stated amount of all LC Guaranties and Letters of Credit minus (iii) the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to permanent reductions of the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Loan Commitment. Subject to all of the terms and conditions of this Agreement, Lender agrees, for so long as no Default or Event of Default exists, to make Revolving Credit Loans to Borrower and to provide Letters of Credit and LC Guaranties from time to time, as requested by Borrower in accordance with the Borrowers may borrow, repay, prepay terms of Section 2.3 and reborrow amountsSection 2.4 hereof, up to a maximum principal amount at any time outstanding equal to the limits imposed Borrowing Base at such time. It is expressly understood and agreed that Lender may use the Borrowing Base as a maximum ceiling on Revolving Credit Loans outstanding to Borrower at any time. If the unpaid balance of the Revolving Credit Loans should exceed the ceiling so determined or any other limitation set forth in this Agreement, such Revolving Credit Loans shall nevertheless constitute Obligations that are secured by the Collateral and entitled to all the benefits thereof. In no event shall Borrower be authorized to request a Loan at any time that there exists a Default or an Event of Default. Notwithstanding the foregoing provisions of this Section 2.12.1(A), Lender shall have the right to establish reserves in such amounts, and with respect to such matters, as Lender shall deem reasonably necessary or appropriate, against the amount of Revolving Credit Loans which Borrower may otherwise request under this Section 2.1(A), including, without limitation, with respect to (i) price adjustments, damages, unearned discounts, returned products or other matters for which credit memoranda are issued in the ordinary course of Borrower's business; (ii) shrinkage, spoilage and obsolescence of Inventory; (iii) slow moving Inventory; (iv) other sums chargeable against Borrower's Loan Account as Revolving Credit Loans under any section of this Agreement; and (v) such other matters, events, conditions or contingencies as to which Lender, in its reasonable discretion, determines reserves should be established from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3hereunder. Each request for a Revolving Credit Loan hereunder shall constitute a representation be made on notice, given not later than 11:00 A.M. (Chicago time) (i) three Business Days prior to the requested borrowing date in the case of LIBOR Rate Loans; and warranty by (ii) on the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as Business Day of the proposed Revolving Credit Loan in the case of Prime Revolving Credit Portions, by Borrower to Lender. Each such notice (a "Notice of Revolving Credit Loan") shall be in writing or by telephone to Xxxx X. Xxxxxxxxx of Lender at (847) 640-3525, or such other person as Lender notifies Borrower of in writing, confirmed immediately in writing, specifying therein the requested date and amount of such requestRevolving Credit Loan.

Appears in 1 contract

Samples: Loan and Security Agreement (Franklin Ophthalmic Instruments Co Inc)

Revolving Credit Loans. (a) Upon Subject to the terms and subject to the conditions of set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) Lenders severally agrees to lend to the Borrowers at Borrower, and the Borrowers’ request Borrower may borrow (and repay and reborrow) from time to time from and after between the Closing Agreement Effective Date and prior the Revolving Credit Maturity Date upon notice by the Borrower to the Maturity DateAdministrative Agent given in accordance with Section 2.5, provided that such sums as are requested by the Total Outstandings Borrower for the purposes set forth in Section 7.2 up to a maximum aggregate principal amount Outstanding (after giving effect to all requested amounts requested) at any one time equal to the lesser of (i) such Lender’s Revolving Credit Commitment and (ii) such Lender’s Revolving Credit Commitment Percentage of an amount equal to (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all Outstanding Swingline Loans andand Term Loans plus (2) the aggregate amount of Letter of Credit Liabilities; provided, with respect to that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the Outstanding principal amount of the Revolving Credit Loans made on the Closing Date(after giving effect to all amounts requested), treating loans outstanding under the Existing Swingline Loans and Letter of Credit Agreement as not being outstanding for this purpose) Liabilities shall not at any time exceed the lesser of (i) Aggregate Revolving Credit Commitment and the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate Outstanding principal amount of outstanding Revolving Credit the Loans made by each Lender shall not at any time (after giving effect to all requested amounts requested), Swingline Loans and Letter of Credit Liabilities shall not at any time exceed the Aggregate Commitment. The Revolving Credit Loans and, shall be made pro rata in accordance with respect to the each Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 Section 5.1 (with respect to the initial Advance hereunder) and 3.2 Section 5.2 (with respect to each Advance hereunder) have been satisfied as of on the date of such request. The Administrative Agent may assume that the conditions in Section 5.1 (with respect to the initial Advance hereunder) and Section 5.2 (with respect to each Advance hereunder) have been satisfied or waived unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied or waived. No Revolving Credit Lender shall have any obligation to make any Revolving Credit Loan to the Borrower to the extent that such Revolving Credit Loan would cause the sum of (1) such Revolving Credit Lender's Revolving Credit Commitment Percentage of all Outstanding Swingline Loans plus (2) such Revolving Credit Lender's Revolving Credit Commitment Percentage of all Outstanding Letter of Credit Liabilities and (3) such Revolving Credit Lender's Outstanding Revolving Credit Loans to exceed the amount of such Revolving Credit Lender's Revolving Credit Commitment.

Appears in 1 contract

Samples: Secured Credit Agreement (Rouse Properties, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans, Term Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Behringer Harvard Reit I Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.6, such sums as are requested by the Borrower for the purposes set forth in §2.8 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender’s Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing or would arise as a result thereof; and provided, further, that the outstanding principal amount of the Revolving Credit Loans and Swing Loans and the Letter of Credit Liabilities (after giving effect to all amounts requested), shall not at any time exceed the Total Commitment or cause a violation of the covenants set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Mid-America Apartments, L.P.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Commitment and (ii) such Lender’s Commitment Percentage of the Borrowing Base Availability minus the aggregate amount of Letter of Credit Liabilities and Swing Loans outstanding; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or the Borrowing Base Availability. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 §§10 and 3.2 11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Commitment Percentage of the Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Condor Hospitality Trust, Inc.)

Revolving Credit Loans. (a) Upon U.S. REVOLVER. Each Lender (except the terms U.K. Lender and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders Canadian Lender) agrees, severally and not jointly, for so long as no Default or Event of Default exists, to make revolving credit loans (the “Revolving Credit Loans”Loans to U.S. Borrowers (each such loan or extension of credit, a "U.S. Revolving Credit Loan") to the Borrowers at the Borrowers’ request from time to time during the period from and after the Closing Date and prior date hereof to but not including the Maturity Datelast day of the Term, provided that as requested by Borrower Representative, on behalf of U.S. Borrowers, in the Total Outstandings (after giving effect manner set forth in SUBSECTION 3.1.1 hereof, up to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not a maximum principal amount in Dollar Equivalents at any time exceed outstanding equal to the lesser of (i) the Borrowing Base product of such Lender's Revolving Loan Percentage and the U.S. Revolving Loan Commitment MINUS the product of such Lender's Revolving Loan Percentage and the U.S. LC Obligations MINUS the product of such Lender's Revolving Loan Percentage and the reserves imposed on U.S. Borrowers, if any, pursuant to this Section and (ii) the Available Commitmentproduct of such Lender's Revolving Loan Percentage and an amount equal to the U.S. Borrowing Base at such time MINUS the product of such Lender's Revolving Loan Percentage and any amount equal to the U.S. LC Obligations MINUS the product of such Lender's Revolving Loan Percentage and reserves imposed on U.S. Borrowers, providedif any, further that the sum of the aggregate principal amount of outstanding pursuant to this Section. The U.S. Revolving Credit Loans made by each Lender the Lenders for the benefit of U.S. Borrowers shall not at any time (after giving effect be denominated in Dollars or Euros. Agent shall have the right to all requested establish reserves in such amounts, and with respect to such matters, as Agent shall reasonably deem necessary or appropriate in its reasonable credit judgment exercised in good faith, against the amount of Revolving Credit Loans and, which U.S. Borrowers may otherwise request under this SUBSECTION 1.1.1 including without limitation with respect to (i) price adjustments, damages, unearned discounts or other matters for which credit memoranda are issued in the ordinary course of U.S. Borrowers' business; (ii) potential dilution related to Accounts; (iii) other sums chargeable against U.S. Borrowers' Loan Account as a Revolving Credit Loans made on the Closing Date, treating loans outstanding Loan under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions any section of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up ; (iv) amounts owing by any U.S. Borrower to any Person to the limits imposed extent secured by this Section 2.1a Lien on, or trust over, any U.S. Collateral of any U.S. Borrower; (v) amounts owing by any U.S. Borrower in connection with Product Obligations; and (vi) such other specific events, conditions or contingencies as to which Agent, in its reasonable credit judgment exercised in good faith, determines reserves should be established from time to time between hereunder. Notwithstanding the Closing Date and the Maturity Date upon request given foregoing, Agent shall not establish any reserves in respect of any matters relating to the Agent pursuant to Section 2.3any items of Collateral that have been taken into account in determining Eligible Accounts. Each request for a The U.S. Revolving Credit Loan hereunder Loans shall constitute a representation and warranty by be repayable in accordance with the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as terms of the date U.S. Revolving Notes and shall be secured by all of such requestthe U.S. Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Sitel Corp)

Revolving Credit Loans. (a) Upon Subject to and upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers hereinherein set forth, each of the Lenders agrees, Lender having a Revolving Credit Commitment severally and not jointly, agrees to make revolving credit a loan or loans (the each such loan and any Incremental Revolving Credit Loans and any Extended Revolving Credit Loans, a “Revolving Credit LoansLoan”) to the Borrowers Borrower, which Revolving Credit Loans (i) shall not exceed, for any such Lender, the Revolving Credit Commitment of such Lender, (ii) shall not, after giving effect thereto and to the application of the proceeds thereof, result in such Lender’s Revolving Credit Exposure at such time exceeding such Xxxxxx’s Revolving Credit Commitment at such time, (iii) shall not, after giving effect thereto and to the Borrowersapplication of the proceeds thereof, at any time result in the aggregate amount of all Lendersrequest Revolving Credit Exposures exceeding the Total Revolving Credit Commitment then in effect, (iv) shall be made at any time and from time to time from and after the Closing Date and prior to the Revolving Credit Maturity Date, ; provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans may be made on the Closing DateDate in an aggregate amount not to exceed $5,000,000 to the extent permitted by Section 9.12 (for the avoidance of doubt, treating loans outstanding under no Lender having a Revolving Credit Commitment shall have any obligation to make Revolving Credit Loans for any purpose prohibited by Section 9.12), (v) may, at the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed option of the lesser of (i) the Borrowing Base Borrower, be incurred and (ii) the Available Commitmentmaintained as, and/or converted into, Index Rate Loans or SOFR Loans; provided, further that the sum of the aggregate principal amount of outstanding all Revolving Credit Loans made by each Lender shall not at any time (after giving effect of the Lenders pursuant to all requested the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as of the date of such request.same Type; and provided, further, that Swing Loans shall not be converted into Term SOFR Loans, and

Appears in 1 contract

Samples: Credit Agreement

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Revolving Credit Loans. (a) Upon Subject to and upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers hereinherein set forth, each of the Lenders agrees, Lender having a Revolving Credit Commitment severally and not jointly, agrees to make revolving credit a loan or loans (the each such loan and any Incremental Revolving Credit Loans and any Extended Revolving Credit Loans, a “Revolving Credit LoansLoan”) to the Borrowers Borrower, which Revolving Credit Loans (i) shall not exceed, for any such Lender, the Revolving Credit Commitment of such Lender, (ii) shall not, after giving effect thereto and to the application of the proceeds thereof, result in such Lender’s Revolving Credit Exposure at such time exceeding such Xxxxxx’s Revolving Credit Commitment at such time, (iii) shall not, after giving effect thereto and to the Borrowersapplication of the proceeds thereof, at any time result in the aggregate amount of all Lendersrequest Revolving Credit Exposures exceeding the Total Revolving Credit Commitment then in effect, (iv) shall be made at any time and from time to time from and after the Closing Date and prior to the Revolving Credit Maturity Date, provided that (v) may, at the Total Outstandings (after giving effect to all requested option of the Borrower, be incurred and maintained as, and/or converted into, Index Rate Loans or LIBOR Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, Loans; provided, further that the sum of the aggregate principal amount of outstanding all Revolving Credit Loans made by each Lender shall not at any time (after giving effect of the Lenders pursuant to all requested the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of Revolving Credit Loans andof the same Type, and (vi) may be repaid and reborrowed in accordance with respect to the provisions hereof. On the Revolving Credit Loans made on the Closing Maturity Date, treating loans all outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder Loans shall constitute a representation and warranty by the Borrowers that the conditions set forth be repaid in Sections 3.1 and 3.2 have been satisfied as of the date of such requestfull.

Appears in 1 contract

Samples: Credit Agreement

Revolving Credit Loans. (a) Upon Subject to the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers hereinhereof, each of the Lenders agrees, Lender severally and not jointly, agrees to make revolving credit loans (each a "REVOLVING CREDIT LOAN" and, as the context may require, collectively with all Revolving Credit Loans”Loans of such Lender and with the Revolving Credit Loans of all other Lenders, the "REVOLVING CREDIT LOANS") to the Borrowers at the Borrowers’ request Borrower from time to time from and after between the Closing Effective Date and prior to the Maturity Date, provided that in an aggregate principal amount, together with such Lender's share of the Total Outstandings Letter of Credit Exposure and Swing Loans outstanding at such time, not to exceed at any time (after giving effect to all requested exclusive of any Competitive Advances of such Lender at such time) such Lender's Commitment Amount for the purposes set forth in Section 2.15. The Revolving Credit Loans and, shall be made pro rata in accordance with each Lender's Commitment Percentage. The acceptance by Borrower of the Revolving Credit Loans hereunder shall constitute a representation and warranty that all of the conditions set forth in Sections 5 (with respect to the Revolving Credit Loans made on the Closing Effective Date, treating loans ) and 6 (with respect to all other Revolving Credit Loans) have been satisfied. At no time shall the aggregate outstanding under principal amount of the Existing Revolving Credit Agreement as not being outstanding for this purposeLoans of all Lenders (including the amount of Competitive Advances) shall not at any time exceed plus the lesser Letter of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of Credit Exposure plus the aggregate principal amount of outstanding Revolving Credit all Swing Loans made by each Lender shall not exceed the Total Commitment Amount. Between the Effective Date and the Maturity Date, the Borrower may borrow, prepay in whole or in part and reborrow under the Commitments at any time (after giving effect and from time to time, all requested Revolving Credit Loans and, in accordance with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up . Subject to the limits imposed by this Section 2.1provisions of Sections 2.3, from time to time between the Closing Date 2.4 and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a 2.8, Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as of the date of such requestLoans may be (a) Prime Rate Loans, (b) LIBOR Loans, (c) Competitive Advances or (d) any combination thereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (New Plan Excel Realty Trust Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions set forth in this Agreement and the Post Closing Letter, each of this Agreementthe Revolving Credit Lenders severally agrees to lend to the Borrowers, and the Borrowers may borrow, repay, prepay borrow (and reborrow amounts, up to the limits imposed by this Section 2.1, repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrowers to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty given in accordance with §2.7, such sums, in Dollars or in one or more Alternative Currencies, as are requested by the Borrowers that for the conditions purposes set forth in Sections 3.1 §2.9 up to a maximum aggregate principal Dollar Equivalent amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and 3.2 have been satisfied as (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the date sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenant set forth in §9.1; and provided, further, that: (x) the aggregate Outstanding amount of all Revolving Credit Loans denominated in Alternative Currencies shall not exceed the Alternative Currency Sublimit, (y) the aggregate Outstanding amount of the Revolving Credit Loans of any Revolving Credit Lender (less, with respect only to the Alternative Currency Fronting Lender, the aggregate Alternative Currency Risk Participations in all Loans denominated in Alternative Currencies), plus, with respect only to the Alternative Currency Participating Lenders, the Outstanding amount of such request.Lender’s Alternative Currency Risk Participations in Loans denominated in Alternative Currencies and advanced by the Alternative Currency Fronting Lender, plus such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Outstanding amount of all Letter of Credit Liabilities, plus such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Outstanding amount of all Swing Loans shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment, and (z) after giving effect to any Revolving Credit Loans denominated in Alternative Currencies and advanced by the Alternative Currency Fronting Lender, the aggregate Dollar Equivalent amount of all such Revolving Credit Loans funded by such Alternative Currency Fronting Lender shall not exceed the Fronting Commitment of such

Appears in 1 contract

Samples: Credit Agreement (CoreSite Realty Corp)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers Borrower herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”"REVOLVING CREDIT LOANS") to the Borrowers Borrower at the Borrowers’ Borrower's request from time to time from and after the Closing Date and prior to the Borrowing Base Maturity Date, provided PROVIDED that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purposeLoans) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Total Commitment, providedand PROVIDED, further FURTHER that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purposeLoans) exceed such Lender’s 's Commitment, and PROVIDED, FURTHER, that the sum of the aggregate principal amount of outstanding Revolving Credit Loans based on Eligible Leases having original terms of more than 60 months shall not at any time (after giving effect to all requested Revolving Credit Loans) exceed 15% of the aggregate principal amount of all outstanding Revolving Credit Loans. Subject to the terms and conditions of this Agreement, the Borrowers Borrower may borrow, repay, repay and prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Borrowing Base Maturity Date upon request given to the Agent pursuant to Section 2.32.4. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that the conditions set forth in Sections 3.1 Section 3.1, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and Section 3.2 in the case of all other Revolving Credit Loans, have been satisfied as of the date of such request. Additionally, at the Closing Date only, the Borrower shall have excess Revolving Loan availability, of at least $5,000,000.00.

Appears in 1 contract

Samples: Revolving Credit Agreement (Microfinancial Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Lender’s Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 §§10 and 3.2 11, as applicable, have been satisfied as of on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities and Swing Loans in the maximum aggregate principal outstanding balance of more than the amount equal to such Lender’s Commitment.

Appears in 1 contract

Samples: Credit Agreement (Monogram Residential Trust, Inc.)

Revolving Credit Loans. Immediately prior to giving effect to this Agreement, as of the Amended and Restated Effective Date, the outstanding principal balance of Revolving Credit Loans made under the Original Loan Agreement was $0 (a) Upon the "Outstanding Original Revolving Loan Balance"). On the Amended and Restated Effective Date and upon the effectiveness of this Agreement, the Outstanding Original Revolving Loan Balance shall constitute Revolving Credit Loans hereunder owing to the Lenders for all purposes of this Agreement and the other Loan Documents. Subject to the terms and subject to the conditions of this Agreementof, and in reliance upon the representationsrepresentations and warranties made in, warranties this Agreement and covenants of the Borrowers hereinother Loan Documents, each of the Lenders Lender agrees, severally and not jointly, for so long as no Default or Event of Default exists, to make revolving credit loans (the “Revolving Credit Loans”) Loans to the Borrowers at the Borrowers’ request from time to time during the period from and after the Closing Date and prior to but not including the Maturity Datelast day of the Term, provided that as requested by Borrower Representative in the Total Outstandings (after giving effect manner set forth in subsection 3.1.1 hereof, up to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not a maximum principal amount at any time exceed outstanding equal to the lesser of (i) such Lender's Revolving Loan Commitment minus the Borrowing Base product of such Lender's Revolving Loan Percentage and the LC Exposure, and (ii) the Available Commitmentproduct of such Lender's Revolving Loan Percentage and an amount equal to (A) the Borrowing Base at such time minus (B) the LC Exposure (other than the Cash Collateralized LC Exposure) at such time minus (C) Reserves, providedif any. Agent shall have the right to establish reserves in such amounts, further and with respect to such matters, as Agent may deem necessary from time to time in its Reasonable Credit Judgment based on facts or circumstances not existing on the Amended and Restated Effective Date or existing on the Amended and Restated Effective Date but not known to Agent on the Amended and Restated Effective Date (such reserves, "Reserves"), including (it being understood that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall following list may justify reserves but does not at any time (after giving effect to all requested Revolving Credit Loans andnecessarily require them), with respect to (i) price adjustments, lower of cost or market adjustments based on LME Prices, damages, unearned discounts, returned products or other matters for which credit memoranda are issued in the ordinary course of any Borrower's business; (ii) sums properly chargeable against Borrowers' Loan Account as Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions any section of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up ; (iii) amounts owing by any Borrower to any Person (other than a Lender pursuant to the limits imposed Loan Documents) to the extent secured by this Section 2.1a Lien on any of the Collateral; (iv) amounts owing by any Borrower in connection with Product Obligations (not to exceed the Aggregate Bank Product Reserve); (v) dividends declared by a Borrower or Guarantor but not yet paid (but only to the extent the amount of such dividends exceeds the amount of Borrowers' immediately available funds held in Dominion Accounts); and (vi) the Dilution Reserve. Notwithstanding anything herein to the contrary, from time to time between reserves will not duplicate (i) eligibility criteria contained in the definitions of "Eligible Accounts" and "Eligible Inventory", and vice versa and (ii) reserves or criteria deducted in computing book value or the net amount of Eligible Accounts or Eligible Inventory. Any changes in Availability after the Closing Date and by way of establishing new reserve categories, increasing the Maturity Date upon request given to amount or calculation methodology of any existing reserve or changing the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions concentration percentages set forth in Sections 3.1 clause (xv) of the definition of Eligible Accounts will require five Business Days' prior written notice to Borrower Representative if, and 3.2 have been satisfied only if, such change would reasonably be expected to cause the Applicable Trigger, as of the date of such requestchange, to fall below the Covenant Trigger Amount and Agent shall consult with Borrower Representative prior to making any such change (but Borrower Representative's consent shall not be required). The Revolving Credit Loans shall be repayable as set forth in Section 3.

Appears in 1 contract

Samples: Loan and Security Agreement (Century Aluminum Co)

Revolving Credit Loans. (a) Upon Subject to the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers hereinhereof, each of the Lenders agreesBank, severally and not jointly, agrees to make revolving credit loans in Dollars (the "Revolving Credit Loans") to the Borrowers at the Borrowers’ request Borrower from time to time from and after during the Closing Date and prior to the Maturity DateCommitment Period, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not in an aggregate principal amount at any time exceed the lesser outstanding which, when added to such Bank's Commitment Percentage of (i) the Borrowing Base L/C Obligations then outstanding and (ii) the Available principal amount of Swing Line Loans then outstanding, does not exceed such Bank's Commitment, ; provided, further that at no time shall the sum of (x) the aggregate principal amount of outstanding Revolving Credit all Loans made by each Lender shall not at any time the Banks then outstanding plus (after giving effect to all requested Revolving Credit Loans and, with respect to y) the Revolving Credit Loans made on L/C Obligations then outstanding exceed the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Total Commitment. Subject to the terms and conditions of this Agreement, the Borrowers The Commitments may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, be terminated or reduced from time to time between pursuant to Section 2.10. Within the Closing Date foregoing limits, the Borrower may during the Commitment Period borrow, repay and reborrow under the Maturity Date upon request given Commitment, subject to the terms, provisions and limitations set forth herein. The Revolving Credit Loans may from time to time be (i) Eurodollar Loans, (ii) Base Rate Loans or (iii) a combination thereof, as determined by the Borrower and notified to the Agent pursuant in accordance with Sections 2.2 and 2.18; provided, that no Loan shall be made as a Eurodollar Loan after the date that is one month prior to Section 2.3the Termination Date. Each request for a The failure of any Bank to make any Revolving Credit Loan shall not in itself relieve any other Bank of its obligation to lend hereunder (it being understood, however, that no Bank shall constitute be responsible for the failure of any other Bank to make any Loan required to be made by such other Bank). The Loans comprising any Revolving Credit Borrowing shall be (i) with respect to a representation and warranty by Base Rate Borrowing, in a minimum aggregate principal amount of $100,000 or a whole multiple thereof or (ii) with respect to a Eurodollar Borrowing, in a minimum aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, in either case, an aggregate principal amount equal to the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as remaining balance of the date of such requestavailable Commitments).

Appears in 1 contract

Samples: Credit Agreement (Dover Downs Entertainment Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers Borrower herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”"REVOLVING CREDIT LOANS") to the Borrowers Borrower at the Borrowers’ Borrower's request from time to time from and after the Closing Date and prior to the Borrowing Base Maturity Date, provided PROVIDED that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purposeand Swing Line Advances) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Total Commitment, providedand PROVIDED, further FURTHER that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purposeand Swing Line Advances) exceed such Lender’s 's Commitment, and PROVIDED, FURTHER, that the sum of the aggregate principal amount of outstanding Revolving Credit Loans based on Eligible Leases having original terms of more than 60 months shall not at any time (after giving effect to all requested Revolving Credit Loans) exceed 10% of the aggregate principal amount of all outstanding Revolving Credit Loans. Subject to the terms and conditions of this Agreement, the Borrowers Borrower may borrow, repay, repay and prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Borrowing Base Maturity Date upon request given to the Agent pursuant to Section 2.32.4. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that the conditions set forth in Sections 3.1 Section 3.1, in the case of the initial Revolving Credit Loans to be made on the Closing Date, and Section 3.2 in the case of all other Revolving Credit Loans, have been satisfied as of the date of such request.

Appears in 1 contract

Samples: Revolving Credit Agreement (Microfinancial Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow), from time to time between the Closing Date and the Revolving Credit Maturity Date in Dollars or in any Alternative Currency requested by the Borrower upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Revolving Credit Commitment and (ii) such Lender’s Revolving Credit Commitment Percentage of the maximum amount which, when added to the sum of (1) the amount of all Outstanding Revolving Credit Loans, Term Loans and Swing Loans, (2) the aggregate amount of Letter of Credit Liabilities and (3) the amount of all other Unsecured Indebtedness of REIT and its Subsidiaries, would not cause a violation of the covenants set forth in §§9.3 and 9.4; provided, that, (U) the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment, (V) in all events no Default or Event of Default shall have occurred and be continuing, (W) the Dollar Equivalent of the outstanding principal amount of all Revolving Credit Loans denominated in Alternative Currencies shall not at any time exceed the Non-U.S. Dollar Sublimit, (X) the Dollar Equivalent of the outstanding principal amount of all Revolving Credit Loans denominated in Swiss Francs shall not at any time exceed $1,240,000,000.00 (the “Swiss Francs Sublimit”), (Y) the Dollar Equivalent of the outstanding principal amount of all Revolving Credit Loans denominated in Norwegian Krone shall not at any time exceed $825,000,000.00 (the “Norwegian Krone Sublimit”), and (Z) the Dollar Equivalent of the outstanding principal amount of all Revolving Credit Loans denominated in Swedish Krona shall not at any time exceed $825,000,000.00 (the “Swedish Krona Sublimit”). Each Revolving Credit Loan shall be made of the same Currency and Type and made by the Revolving Credit Lenders pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 and 3.2 §11 (and, in the case of any request for a Revolving Credit Loan hereunder on the Closing Date, §10) have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Global Net Lease, Inc.)

Revolving Credit Loans. (a) Upon Each Revolving Credit Lender severally agrees, on the terms and subject to the conditions of set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the each a “Revolving Credit LoansLoan”) to the Borrowers at the Borrowers’ request Borrower pursuant to this Section 2.01 from time to time during the Revolving Credit Availability Period in amounts such that the Revolving Credit Outstandings of such Revolving Credit Lender at any time shall not exceed the amount of its Revolving Credit Commitment at such time. Each Borrowing under this Section 2.01 shall be in an aggregate principal amount of $1,000,000 or any larger multiple of $500,000 and shall be made from and after the Closing Date and prior Revolving Credit Lenders ratably in proportion to their respective Revolving Credit Commitments. Within the foregoing limits, the Borrower may borrow under this Section 2.01, repay, or, to the Maturity Dateextent permitted or required by Sections 2.11, provided that the Total Outstandings (after giving effect to all requested 2.12 and 2.13, prepay Revolving Credit Loans and, with respect to and reborrow at any time during the Revolving Credit Loans made on Availability Period. Notwithstanding the Closing Dateforegoing, treating loans until delivery to the Administrative Agent of a certificate of a responsible officer of the Borrower, in form and substance reasonably satisfactory to the Administrative Agent, stating that (a) all Obligations outstanding under the Existing 8.10% Notes, the 8.10% Senior Note Indenture, the CEA Credit Agreement as not being and the CMA Credit Agreement (other than contingent Obligations which by their terms survive the termination thereof), (b) all commitments to lend thereunder have been terminated and (c) all Liens securing such Obligations have been terminated and released, the aggregate outstanding for this purpose) Revolving Credit Loans and face amount of Letters of Credit shall not at any time exceed the lesser sum of (i) the Borrowing Base and $15,000,000 plus (ii) the Available Commitment, provided, further that the sum of the aggregate principal face amount of outstanding Revolving Letters of Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent issued pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by 4.17(a)(ii) plus (iii) the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as face amount of the date outstanding CMA-Related Letters of such requestCredit.

Appears in 1 contract

Samples: Credit Agreement (Cogentrix Energy Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions set forth in this Agreement and the Post Closing Letter, each of this Agreementthe Revolving Credit Lenders severally agrees to lend to the Borrowers, and the Borrowers may borrow, repay, prepay borrow (and reborrow amounts, up to the limits imposed by this Section 2.1, repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrowers to the Agent pursuant given in accordance with §2.8, such sums as are requested by the Borrowers for the purposes set forth in §2.10 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of (A) the Borrowing Base Availability minus (B) the amount of all outstanding Revolving Credit Loans; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment or cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that all of the conditions required of Borrowers set forth in Sections 3.1 §10 and 3.2 §11 have been satisfied on the date of such request (or if such condition is required to have been satisfied only as of the initial Closing Date, that such condition was satisfied as of the Closing Date), or to the extent all of the conditions required of Borrowers set forth in §10 and §11 are not satisfied or deemed satisfied as of the date of such request, such shall not result in any Material Adverse Effect. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrowers in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note or its Commitment, as applicable.

Appears in 1 contract

Samples: Credit Agreement (City Office REIT, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Revolving Credit Lenders severally agrees to lend to the Borrowers, and the Borrowers may borrow, repay, prepay borrow (but may not repay and reborrow amounts, up amounts repaid other than amounts repaid pursuant to the limits imposed by this Section 2.1, §3.2) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrowers to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrowers for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Borrowing Base Availability (giving effect to the amount of all Outstanding Revolving Credit Loans); provided, that, in all events the maximum Outstanding principal balance of the Revolving Credit Loans shall not exceed the Borrowing Base Availability; and provided, further that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Revolving Credit Commitment or cause a violation of the covenants set forth in §9.1, §9.2 or §9.3. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that all of the conditions required of Borrowers set forth in Sections 3.1 §10 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to Borrowers in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Joinder Agreement (QTS Realty Trust, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreementof, and in reliance upon the representationsrepresentations and warranties made under, warranties and covenants of the Borrowers hereinthis Agreement, each of the Lenders Lender agrees, severally and severally, but not jointly, to make revolving credit loans (the “Revolving Credit Loans”) Loans to the Borrowers at the Borrowers’ request from time to time from and after the Closing Effective Date and prior to but not including the Maturity Termination Date, provided as requested or deemed requested by a Borrower in accordance with the terms of Section 2.2, in amounts equal to such Lender's Commitment Percentage of each such Revolving Credit Loan requested or deemed requested hereunder up to an aggregate amount at any one time outstanding equal to such Lender's Commitment Percentage of the Borrowing Base; provided, however, that the Total Outstandings aggregate principal amount of all outstanding Revolving Credit Loans (after giving effect to all requested the Advances requested) shall not exceed the Borrowing Base. It is expressly understood and agreed that the Lenders may and at present intend to use the Borrowing Base as a maximum ceiling on Revolving Credit Loans andto the Borrower; provided, with respect to however, that it is agreed that should the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base ceiling so determined or any other limitation set forth in this Agreement, such Revolving Credit Loans shall nevertheless constitute Secured Obligations and, as such, shall be entitled to all benefits thereof and (ii) the Available Commitment, provided, further that the sum of the aggregate security therefor. The principal amount of outstanding any Revolving Credit Loans made Loan which is repaid pursuant to Section 2.3(c) may be reborrowed by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans andthe Borrower, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject subject to the terms and conditions of this Agreement, in accordance with the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by terms of this Section 2.1, from time to time between . The Agent's and each Lender's books and records reflecting the Closing Date date and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a amount of each Revolving Credit Loan hereunder and each repayment of principal thereof shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as prima facie evidence of the date accuracy of such requestthe information contained therein, subject to the provisions of Section 4.7.

Appears in 1 contract

Samples: Loan and Security Agreement (Trism Inc /De/)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Commitment and (ii) such Lender’s Commitment Percentage of the Borrowing Base Availability; provided, that, in all events no Default or Event of Default shall have occurred and be continuing or would arise as a result thereof; and provided, further, that the outstanding principal amount of the Revolving Credit Loans and Swing Loans and the Letter of Credit Liabilities (after giving effect to all amounts requested), shall not at any time exceed the Total Commitment or cause a violation of the covenants set forth in §9.1, §9.2 or §9.3. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Mid America Apartment Communities Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty given in accordance with §2.7, such sums as are requested by the Borrowers that Borrower for the conditions purposes set forth in Sections 3.1 §2.9 up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) the sum of such Revolving Credit Lender’s Revolving Credit Commitment and 3.2 have been satisfied as (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the date sum of such request.(A) the Pool Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment, and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment or cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving

Appears in 1 contract

Samples: Credit Agreement (Carter Validus Mission Critical REIT II, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the sum of such Lender’s Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed an amount equal to the lesser of (i) the Total Commitment or (ii) the then-current Borrowing Base Availability. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 §§10 and 3.2 11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §§10 and 11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Commitment Percentage of the Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Four Springs Capital Trust)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow), from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Revolving Credit Commitment and (ii) such Lender’s Revolving Credit Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans, Term Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time (i) exceed the lesser of (A) Borrowing Base Availability and (B) the Total Commitment or (ii) cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions required of the Borrower set forth in Sections 3.1 and 3.2 §11 (and, in the case of any request for a Revolving Credit Loan hereunder on the Closing Date, §10) have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower or participate in Letter of Credit Liabilities in the maximum aggregate principal outstanding balance of more than the lesser of the amount equal to its Revolving Credit Commitment Percentage of the Revolving Credit Commitments and the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Healthcare Trust, Inc.)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreementof, and in reliance upon the representationsrepresentations and warranties made under, warranties and covenants of the Borrowers hereinthis Agreement, each of the Lenders Lender agrees, severally and severally, but not jointly, to make revolving credit loans (the “Revolving Credit Loans”) Loans to the Borrowers at the Borrowers’ request Borrower from time to time from and after the Closing Effective Date and prior to but not including the Maturity Termination Date, provided as requested or deemed requested by the Borrower in accordance with the terms of SECTION 2.2, in amounts equal to such Lender's Commitment Percentage of each Borrowing requested or deemed requested hereunder up to an aggregate amount at any one time outstanding equal to such Lender's Commitment Percentage of the Borrowing Base; PROVIDED, HOWEVER, that the Total Outstandings aggregate principal amount of all outstanding Revolving Credit Loans (after giving effect to all requested Revolving Credit the Loans and, with respect requested) shall not exceed the Borrowing Base. It is expressly understood and agreed that the Lenders may and at present intend to use the Borrowing Base as a maximum ceiling on Revolving Credit Loans made on to the Closing DateBorrower; PROVIDED, treating loans HOWEVER, that it is agreed that should the aggregate outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time amount of such Loans exceed the lesser of (i) the Borrowing Base ceiling so determined or any other limitation set forth in this Agreement, such Loans shall nevertheless constitute Secured Obligations and, as such, shall be entitled to all benefits thereof and (ii) the Available Commitment, provided, further that the sum of the aggregate security therefor. The principal amount of outstanding Revolving Credit Loans any Loan made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to under the Revolving Credit Loans made on Facility which is repaid may be reborrowed by the Closing DateBorrower, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject subject to the terms and conditions of this Agreement, in accordance with the Borrowers may borrowterms of this SECTION 2.1. The Agent's and each Lender's books and records reflecting the date and the amount of each Loan made under the Revolving Credit Facility and each repayment of principal thereof shall constitute PRIMA FACIE evidence of the accuracy of the information contained therein, repay, prepay and reborrow amounts, up subject to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as provisions of the date of such requestSECTION 4.8.

Appears in 1 contract

Samples: Loan and Security Agreement (Texfi Industries Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums denominated in U.S. dollars as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Unencumbered Asset Pool Availability; and provided, further that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenants set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (QualityTech, LP)

Revolving Credit Loans. (a) Upon From the terms and subject to the conditions date of this AgreementAgreement through the Termination Date, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to Lender may make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request Borrower from time to time from and after on any Business Day in such amounts as the Closing Date and prior Borrower may request up to the Maturity Datemaximum amount hereinafter stated, provided that and the Total Outstandings Borrower may make borrowings, prepayments and reborrowings (after giving effect to all requested Revolving Credit Loans andas permitted or required in Sections 2.03, with 2.06 and 2.07 hereof) in respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, thereof; provided, further however, that the sum of the aggregate principal amount of all such revolving credit loans at any one time outstanding Revolving Credit Loans (i) shall not exceed the Borrowing Base, and (ii) shall not be less than $500,000.00, unless the Borrowing Base is less than $500,000.00, in which case such aggregate principal amount shall not be less than the Borrowing Base. To evidence the revolving credit loans made by each the Lender shall pursuant to this Section, the Borrower will issue, execute and deliver the Note dated as of the Effective Date of this Agreement and payable on Lender's demand, but if no demand is made, on the Termination Date. On the Termination Date, in the event the Borrower has not at any time given the Lender sixty (after giving effect 60) days' prior written notice of its intent to all requested Revolving Credit Loans and, with respect terminate the revolving credit loans pursuant to the Revolving Credit Loans made on Note, then, at the Closing Datesole discretion of the Lender, treating the revolving credit loans outstanding under may be renewed, and the Existing Credit Agreement as not being outstanding Termination Date extended, for this purposea period of one (1) exceed year; and at the end of such Lender’s Commitmentone (1) year extension, the revolving credit loans may be again extended, from year to year, in the same fashion. Subject to Each such extension shall be upon the same terms and conditions of this Agreement, as set forth herein and in the Borrowers may borrow, repay, prepay Note and reborrow amounts, up the Security Instruments relating to the limits imposed by this same, and upon such further stipulations and conditions as the Lender may require. Interest on the Note shall accrue at the rate provided in Section 2.1, from time to time between 2.02 hereof and shall be payable monthly on the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as first day of the date of such requesteach month during its term.

Appears in 1 contract

Samples: Loan Agreement (Integrated Security Systems Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Commitment and (ii) such Lender’s Commitment Percentage of the sum of (A) the Borrowing Base Availability minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans, and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the sum of the Total Commitment, and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Xxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (Tier Reit Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Revolving Credit Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Revolving Credit Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.7, such sums denominated in U.S. dollars as are requested by the Borrower for the purposes set forth in §2.9 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Revolving Credit Lender’s Revolving Credit Commitment and (ii) such Revolving Credit Lender’s Revolving Credit Commitment Percentage of the Unencumbered Asset Pool Availability; and provided, further that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment and the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Term Loans, Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenants set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Revolving Credit Lender’s Revolving Credit Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of the Bxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Revolving Credit Lender that such conditions have not been satisfied. No Revolving Credit Lender shall have any obligation to make Revolving Credit Loans to the Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Credit Agreement (QTS Realty Trust, Inc.)

Revolving Credit Loans. (a) Upon Subject to the provisions of §2.5 and the other terms and subject to the conditions of set forth in this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) Lenders severally agrees to lend to the Borrowers at Borrower and the Borrowers’ request Borrower may borrow, repay, and reborrow from each Revolving Credit Lender from time to time from and after the Closing Date and prior up to but not including the Revolving Credit Maturity Date upon notice by the Borrower to the Maturity DateAdministrative Agent given in accordance with §2.5 hereof, provided that such Revolving Credit Loans as are requested by the Total Outstandings Borrower up to a maximum aggregate principal amount outstanding (after giving effect to all requested amounts requested) at any one time equal to such Lender’s Revolving Credit Loans and, with respect to Commitment minus such Lender’s Revolving Credit Commitment Percentage of the Maximum Drawing Amount; provided that the sum of the outstanding amount of the Revolving Credit Loans made on (after giving effect to all amounts requested) and the Closing Date, treating loans outstanding under Competitive Bid Loans plus the Existing Credit Agreement as not being outstanding for this purpose) Maximum Drawing Amount shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Total Revolving Credit Commitment in effect at such time. The Revolving Credit Loans shall be made by pro rata in accordance with each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Lender’s Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of this Agreement, the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3Commitment Percentage. Each request for a Revolving Credit Loan hereunder made pursuant to §2.5 hereof shall constitute a representation and warranty by the Borrowers Borrower that the conditions set forth in Sections 3.1 and 3.2 §10 have been satisfied as of or waived in accordance with §25 and that the conditions set forth in §11 have been satisfied on the date of such requestrequest and will be satisfied on the proposed Drawdown Date of the requested Revolving Credit Loan, provided that the making of such representation and warranty by the Borrower shall not limit the right of any Revolving Credit Lender not to lend if such conditions have not been met. No Revolving Credit Loan shall be required to be made by any Revolving Credit Lender unless all of the conditions contained in §10 have been satisfied or waived in accordance with §25 and all of the conditions set forth in §11 have been met at the time of any request for a Revolving Credit Loan.

Appears in 1 contract

Samples: Credit Agreement (Mack Cali Realty L P)

Revolving Credit Loans. (a) Upon The Lender agrees, on the terms and subject to the conditions of this Agreement, to renew the Existing Line under which the Lender shall make the Term Loan and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, shall from time to time make revolving credit loans (the “"Revolving Credit Loans") and issue Letters of Credit (subject to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior sub-limit set forth below) in United States Dollars to the Maturity DateBorrower for a period terminating on the earlier of the Termination Date or termination in full of the Commitment of the Lender pursuant to Article 7 hereof, on a revolving credit basis, at such time, and subject to Section 2.2 below, in such amounts as the Borrower shall request, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on and Letters of Credit outstanding at one time shall not exceed the Closing Date, treating loans outstanding under Revolving Maximum Amount. Within the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject limits of the Commitment and subject to the terms and conditions provisions of this AgreementAgreement and provided no Event of Default exists hereunder, the Borrowers Borrower may borrow, repay, prepay repay and reborrow amounts, up to the limits imposed by this Section 2.1, from time to time between for the Closing period commencing on the date hereto to and including the earlier of the Termination Date or the termination in full of the Commitment of the Lender pursuant to Article 7 hereof. In the event the aggregate outstanding principal balance of the Revolving Credit Loans and Letters of Credit exceed the Revolving Maximum Amount or, in the event the aggregate of the outstanding principal balance of the Term Loan, the Revolving Credit Loans and Letters of Credit exceed the Total Maximum Amount, then the Borrower shall, immediately and without notice or demand of any kind, make such payments as shall be necessary to reduce the outstanding principal balance of the Commitment below the Revolving Maximum Amount and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as of the date of such requestTotal Maximum Amount, respectively.

Appears in 1 contract

Samples: Security Agreement (Sound Advice Inc)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreementof, and in reliance upon the representationsrepresentations and warranties made under, warranties and covenants of the Borrowers hereinthis Agreement, each of the Lenders Lender agrees, severally and severally, but not jointly, to make revolving credit loans (the “Revolving Credit Loans”) Advances to the Borrowers at the Borrowers’ request from time to time from and after the Closing Effective Date and prior to but not including the Maturity Termination Date, provided that as requested or deemed requested by the Total Outstandings Borrowers in accordance with the terms of Section 2.2, in amounts equal to such Lender's Commitment Percentage of each such Advance requested or deemed requested hereunder up to an aggregate amount at any one time outstanding equal to such Lender's Commitment Percentage of the Borrowing Base; provided, however, that, the aggregate principal amount of all outstanding Revolving Credit Loans (after giving effect to all such Advances requested and any Non-Ratable Loans) shall not exceed the Borrowing Base. It is expressly understood and agreed that, the Lenders may and at present intend to use the Borrowing Base as a maximum ceiling on Revolving Credit Loans andto the Borrowers; provided, with respect to further, however, that, the parties agree that, should the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base ceiling so determined or any other limitation set forth in this Agreement, such Revolving Credit Loans shall nevertheless constitute Secured Obligations and, as such, shall be entitled to all benefits thereof and (ii) the Available Commitment, provided, further that the sum of the aggregate security therefor. The principal amount of outstanding Revolving Credit Loans made any Advances which are repaid pursuant to Section 2.3(a) may be reborrowed by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans andthe Borrowers, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject subject to the terms and conditions of this Agreement, in accordance with the Borrowers may borrow, repay, prepay and reborrow amounts, up to the limits imposed by terms of this Section 2.1, from time to time between . The Agent's and each Lender's books and records reflecting the Closing Date date and the Maturity Date upon request given amount of each Advance and each repayment of principal thereof shall constitute prima facie evidence of the accuracy of the information contained therein, subject to the Agent pursuant to provisions of Section 2.34.7. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as of On the date of the entry of the Final Order (or such requestearlier date as may be permitted by the Bankruptcy Court), the Borrowers shall be deemed to have requested, and each Lender agrees to make available, Revolving Credit Loans in an amount equal to the outstanding Pre-Petition Indebtedness on such date to pay such obligations in full, and, after such payment in full of the Pre-Petition Indebtedness, the Pre-Petition Loan Agreement shall be deemed satisfied and terminated.

Appears in 1 contract

Samples: And Security Agreement (Tropical Sportswear International Corp)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions of set forth in this Agreement, each of the Borrowers may borrow, repay, prepay and reborrow amounts, up Lenders severally agrees to lend to the limits imposed by this Section 2.1Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon request given notice by the Borrower to the Agent pursuant given in accordance with §2.6, such sums as are requested by the Borrower for the purposes set forth in §2.8 up to Section 2.3a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (i) such Lender’s Commitment and (ii) such Lender’s Commitment Percentage of the sum of (A) the Borrowing Base minus (B) the sum of (1) the amount of all outstanding Revolving Credit Loans and Swing Loans and (2) the aggregate amount of Letter of Credit Liabilities; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested), Swing Loans and Letter of Credit Liabilities shall not at any time exceed the Total Commitment or cause a violation of the covenant set forth in §9.1. The Revolving Credit Loans shall be made pro rata in accordance with each Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers Borrower that all of the conditions set forth in Sections 3.1 required of Bxxxxxxx xxx xxxxx xx §00 and 3.2 §11 have been satisfied as of on the date of such request. The Agent may assume that the conditions in §10 and §11 have been satisfied unless it receives prior written notice from a Lender that such conditions have not been satisfied. No Lender shall have any obligation to make Revolving Credit Loans to Borrower in the maximum aggregate principal outstanding balance of more than the principal face amount of its Revolving Credit Note.

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (Republic Property Trust)

Revolving Credit Loans. (a) Upon the terms and subject to the conditions of this Agreement, and in reliance upon the representations, warranties and covenants of the Borrowers herein, each of the Lenders agrees, severally and not jointly, to make revolving credit loans (the “Revolving Credit Loans”) to the Borrowers at the Borrowers’ request from time to time from and after the Closing Date and prior to the Maturity Date, provided that the Total Outstandings (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) shall not at any time exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, provided, further that the sum of the aggregate principal amount of outstanding Revolving Credit Loans made by each Lender shall not at any time (after giving effect to all requested Revolving Credit Loans and, with respect to the Revolving Credit Loans made on the Closing Date, treating loans outstanding under the Existing Credit Agreement as not being outstanding for this purpose) exceed such Lender’s Commitment. Subject to the terms and conditions hereof, each Bank severally agrees to make loans (hereinafter sometimes called the "REVOLVING CREDIT LOANS" or the "LOANS") to the Company from the date hereof until the Termination Date in an aggregate principal amount at any one time outstanding up to its ratable portion of this Agreementthe amount of the excess of (I) the sum of (a) the Aggregate Commitment, plus (b) the amount of funds on deposit in the Note Redemption Account, over (II) the result of (x) the aggregate principal amounts of A Notes then outstanding minus (y) that portion of the proceeds, if any, of such Loans to be applied on the same day to the payment of the principal amount of and/or accrued interest on the A Notes; provided, however, that in no event shall the aggregate principal amount of the Loans of any Bank outstanding exceed such Bank's Commitment. The Company shall give the Agent prior written or facsimile notice (or telephone notice confirmed in writing) no later than 11:30 a.m. Chicago time on the date when such Revolving Credit Loans are requested, which notice shall specify the proposed date and amount thereof. Each Advance hereunder shall consist of Loans made from the several Banks ratably in proportion to the ratio that their respective Commitments bear to the Aggregate Commitment. Each Advance hereunder shall be in the principal amount of $1,000,000 or any integral multiple of $100,000 in excess thereof. Not later than 12:30 p.m. (Chicago time) on each such proposed borrowing date, each Bank shall make available its Loan or Loans in funds immediately available in Chicago to the Agent at its address specified pursuant to Section 9.01. The Agent will promptly make the funds so received from the Banks available to the Company on such proposed date by crediting the amount thereof to the accounts provided for in the following sentence. The proceeds of all Loans shall be credited to the accounts maintained with the Depositary as follows: first, to the extent needed to provide, in the Note Redemption Account, funds sufficient to pay all outstanding A Notes maturing on or before the date of the making of the Loan, such Loans shall be credited to the Note Redemption Account, and second, any balance shall be credited to the Operating Account. Until the Termination Date, the Borrowers Company may borrow, repay, prepay and reborrow amounts, up to hereunder from the limits imposed by Banks in accordance with this Section 2.1, from time to time between the Closing Date and the Maturity Date upon request given to the Agent pursuant to Section 2.3. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrowers that the conditions set forth in Sections 3.1 and 3.2 have been satisfied as of the date of such request1.04 hereof.

Appears in 1 contract

Samples: Credit Agreement (Interstate Power & Light Co)

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