Revolving Lender Clause Samples
The Revolving Lender clause defines the role and responsibilities of a lender that provides a revolving credit facility to a borrower. This clause typically outlines the lender's obligation to make funds available up to a specified limit, allowing the borrower to draw, repay, and re-borrow amounts as needed during the term of the agreement. By establishing the framework for ongoing access to credit, the clause ensures flexibility for the borrower in managing cash flow and short-term financing needs.
Revolving Lender. The Agents and the Borrower shall determine the effective date of any reallocation (the “Reallocation Effective Date”) and the Agents are hereby authorized to revise Schedule 2.01 to reflect such reallocation. The Agents shall promptly notify the Borrower and the Lenders of any reallocation and the Reallocation Effective Date. In addition, in connection with any reallocation, the Borrower shall, after taking into account such reallocation, prepay any Committed Loans and Cash Collateralize any Bankers’ Acceptances and BA Equivalent Notes outstanding on the Reallocation Effective Date to the extent necessary to keep the outstanding Committed Loans, Bankers’ Acceptances and BA Equivalent Notes ratable following such reallocation, provided that in the event that the Reallocation Effective Date is a day other than the last day of each applicable Interest Period, the applicable Lenders have waived any additional amounts otherwise required to be paid by the Borrower under Article III.
Revolving Lender. By checking the box to the right, the undersigned Lender confirms that it is a Revolving Lender.
Revolving Lender. If at any time the outstanding principal amount of Revolving Loans made by all Revolving Lenders plus all Letter of Credit Outstandings exceeds the lesser of (i) the aggregate Revolving Commitments of all Lenders and (ii) the Borrowing Base, the Borrower shall forthwith pay to the Agent for disbursement to the Revolving Lenders an amount not less than the amount of any such excess for application to the outstanding principal amount of the Revolving Loans of all Revolving Lenders; provided, however, insofar as any excess results from the Agent reclassifying any Eligible Loan Receivable as ineligible under the Borrowing Base based upon the exercise of the Agent’s reasonable credit judgment (the amount of such excess attributable to such reclassification being the “Reclassification Amount”), the Borrower shall pay the Reclassification Amount to the Agent for disbursement to the Revolving Lenders not later than fourteen (14) days after Borrower receives written notice from the Agent of such reclassification and the Reclassification Amount. Each such payment shall be applied first against Revolving Loans that are Base Rate Loans which are then outstanding until payment in full thereof. If any such payment prepays Revolving Loans that are the Base Rate Loans in full, the balance of such payment shall be applied to any LIBOR Rate Loans which are then outstanding in the order in which such LIBOR Rate Loans first become due.
Revolving Lender. Any Lender that has a Revolving Credit Commitment.
Revolving Lender. By checking the box to the right, the undersigned ▇▇▇▇▇▇ confirms that it is a Revolving Lender. □
Revolving Lender. Each Lender with a Commitment.
Revolving Lender. In the event any payment received by any L/C Lender and so paid to the Revolving Lenders hereunder is rescinded or must otherwise be returned by such L/C Lender, each Revolving Lender shall, upon the request of such L/C Lender (through Administrative Agent), repay to such L/C Lender (through Administrative Agent) the amount of such payment paid to such Lender, with interest at the rate specified in clause (i) of this Section 2.03.
Revolving Lender. As defined in the First Lien Credit Agreement.