Common use of Revolving Loan Commitment and Swing Line Loan Commitment Clause in Contracts

Revolving Loan Commitment and Swing Line Loan Commitment. From time to time on any Business Day occurring after the Restatement Effective Date but prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), agrees that it will make loans (relative to such Lender, its “Revolving Loans”) to the Borrower denominated in Dollars equal to such Lender’s Revolving Loan Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by the Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its “Swing Line Loans”) denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment of the Swing Line Lender described in this clause is herein referred to as its “Swing Line Loan Commitment”. On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (A) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (B) the sum of the aggregate amount of all Swing Line Loans and all Revolving Loans outstanding plus the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Revolving Loan Commitment Amount.

Appears in 4 contracts

Samples: Credit Agreement (Hanesbrands Inc.), Credit Agreement (Hanesbrands Inc.), Credit Agreement (Hanesbrands Inc.)

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Revolving Loan Commitment and Swing Line Loan Commitment. From (a) On the terms and subject to the conditions set forth in this Agreement, from time to time on any Business Day occurring after the Restatement Effective Closing Date but prior to the Revolving Loan Commitment Termination Date, (a) , each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), agrees that it Lender will make loans (relative to such Revolving Loan Lender, its “Revolving Loans”) to the Borrower denominated in Dollars equal to such Revolving Loan Lender’s Revolving Loan Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by the Borrower to be made on such day; and. On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow the Revolving Loans. (b) On the Swing Line Lender agrees that it terms and subject to the conditions set forth in this Agreement, from time to time on any Business Day occurring after the Closing Date but prior to the Revolving Loan Commitment Termination Date, Wachovia will make loans (relative to Wachovia , its “Swing Line LoansLoan”) denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment Commitment of the Swing Line Lender Wachovia described in this clause (b) is herein referred to as its “Swing Line Loan Commitment”. .” On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (A) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (B) the sum of the aggregate amount of all Swing Line Loans and all Revolving Loans outstanding plus the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Revolving Loan Commitment Amount.

Appears in 2 contracts

Samples: Senior Secured Credit Agreement (Titan Corp), Senior Secured Credit Agreement (Titan Corp)

Revolving Loan Commitment and Swing Line Loan Commitment. From time to time on any Business Day occurring from and after the Restatement Effective Date but prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), agrees that it will make loans (relative to such Lender, its “Revolving Loans”) in Dollars to the Borrower denominated in Dollars equal to such Lender’s Revolving Loan Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by the Borrower to be made on such dayBusiness Day; and (b) the Swing Line Lender agrees that it will make loans (its “Swing Line Loans”) denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment of the Swing Line Lender described in this clause is herein referred to as its “Swing Line Loan Commitment”Business Day. On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, repay, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) the aggregate outstanding principal amount of all Revolving Loans of such Revolving Loan Lender, together with such Lender’s Revolving Exposure Loan Percentage of the aggregate amount of all Swing Line Loans and Letter of Credit Outstandings, would exceed such Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount or Amount, nor shall (i) the aggregate outstanding principal amount of all Revolving Loans plus Swing Line Loans plus (ii) the aggregate stated amount of Revolving Loans and Swing Line Loans outstanding together with the Letter all undrawn Letters of Credit Outstandings and the OA Payment Outstandings would on any date exceed the Revolving Loan Commitment AmountAmount in effect on such date. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (Ai) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (Bii) unless otherwise agreed to by the Swing Line Lender, in its sole discretion, the sum of the aggregate amount of all Swing Line Loans and all Revolving Loans outstanding made by the Swing Line Lender plus the Swing Line Lender’s Revolving Loan Percentage of the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Swing Line Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount.

Appears in 2 contracts

Samples: Credit Agreement (Kansas City Southern De Mexico, S.A. De C.V.), Credit Agreement (Kansas City Southern De Mexico, S.A. De C.V.)

Revolving Loan Commitment and Swing Line Loan Commitment. Subject to compliance by the Obligors with the terms of Section 2.1.4, Section 5.1 and Section 5.2, the Revolving Loans and Swing Line Loans will be continued and/or made as set forth below: (a) From time to time on any Business Day occurring after concurrently with (or after) the Restatement Effective Date making of the Term Loans but prior to the Revolving Loan Commitment Termination Date, (a) , each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), agrees that it will make loans (relative to such Lender, its "Revolving Loans") to the Borrower denominated WWI in Dollars U.S. Dollars, equal to such Lender’s Revolving Loan 's Percentage of the aggregate amount of each the Borrowing of the Revolving Loans requested by the Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its “Swing Line Loans”) denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment Commitment of the Swing Line each Lender described in this clause (a) is herein referred to as its “Swing Line "Revolving Loan Commitment". On the terms and subject to the conditions hereof, the any Borrower may from time to time borrow, prepay and reborrow the Revolving Loans. All Existing Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted continued as Revolving Loans hereunder. (b) From time to time on any Business Day occurring concurrently with (or required to make any Revolving Loan if, after giving effect thereto, (iafter) such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage the making of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed Term Loans, but prior to the Revolving Loan Commitment Amount. FurthermoreTermination Date, the Swing Line Lender shall not be permitted or required will make loans (relative to make the Swing Line Lender, its "Swing Line Loans") to WWI equal to the principal amount of the Swing Line Loans ifrequested by WWI. On the terms and subject to the conditions hereof, after giving effect theretoWWI may from time to time borrow, (A) the aggregate outstanding principal amount of all prepay and reborrow such Swing Line Loans. All Existing Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (B) the sum of the aggregate amount of all shall be continued as Swing Line Loans and all Revolving Loans outstanding plus the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Revolving Loan Commitment Amounthereunder.

Appears in 2 contracts

Samples: Amendment No. 4 (Weight Watchers International Inc), Credit Agreement (Weight Watchers International Inc)

Revolving Loan Commitment and Swing Line Loan Commitment. Subject to compliance by the Obligors with the terms of Section 2.1.4, Section 5.1 and Section 5.2, the Revolving Loans and Swing Line Loans will be continued and/or made as set forth below: (a) From time to time on any Business Day occurring on or after the Restatement Effective Date but prior to the Revolving Loan Commitment Termination Date, (a) , each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), agrees that it ) will make loans (relative to such Lender, its “Revolving Loans”) to the Borrower denominated in Dollars U.S. Dollars, equal to such Lender’s Revolving Loan Percentage of the aggregate amount of each the Borrowing of the Revolving Loans requested by the Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its “Swing Line Loans”) denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment Commitment of the Swing Line each Lender described in this clause (a) is herein referred to as its “Swing Line Revolving Loan Commitment”. On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow the Revolving Loans. All Existing Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of continued as Revolving Loans and Swing Line Loans outstanding together with hereunder. (b) From time to time on any Business Day occurring on or after the Letter of Credit Outstandings and the OA Payment Outstandings would exceed Effective Date but prior to the Revolving Loan Commitment Amount. FurthermoreTermination Date, the Swing Line Lender shall not be permitted or required will make loans (relative to make the Swing Line Lender, its “Swing Line Loans”) to the Borrower equal to the principal amount of the Swing Line Loans ifrequested by the Borrower. On the terms and subject to the conditions hereof, after giving effect theretothe Borrower may from time to time borrow, (A) the aggregate outstanding principal amount of all prepay and reborrow such Swing Line Loans. All Existing Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (B) the sum of the aggregate amount of all shall be continued as Swing Line Loans and all Revolving Loans outstanding plus the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Revolving Loan Commitment Amounthereunder.

Appears in 1 contract

Samples: Credit Agreement (Weight Watchers International Inc)

Revolving Loan Commitment and Swing Line Loan Commitment. From Subject to compliance by the Borrowers with the terms of Article III of the Amendment Agreement and Section 5.2, from time to time on any Business Day occurring on or after the Restatement Amendment Effective Date but prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a "Revolving Loan Lender”), ") agrees that it will make loans (relative to such Lender, its "Revolving Loans") to the applicable Borrower denominated in Dollars equal to such Lender’s Revolving Loan 's RL Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by the such Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its "Swing Line Loans") denominated in Dollars to the applicable Borrower equal to the principal amount of the Swing Line Loan requested by the such Borrower to be made on such day. The commitment Commitment of the Swing Line Lender described in this clause is herein referred to as its "Swing Line Loan Commitment". On the terms and subject to the conditions hereof, the each Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) the aggregate outstanding principal amount of all Revolving Loans of such Revolving Loan Lender, together with such Lender’s Revolving Exposure 's RL Percentage of the aggregate amount of all Swing Line Loans and Letter of Credit Outstandings, would exceed such Lender’s Revolving Loan 's RL Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (Ai) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (Bii) the sum of the aggregate amount of all outstanding Swing Line Loans plus the aggregate amount of all Revolving Loans and Letter of Credit Outstandings would exceed the Revolving Loan Commitment Amount or (iii) unless otherwise agreed to by the Swing Line Lender, in its sole discretion, the sum of all Swing Line Loans and all Revolving Loans outstanding made by the Swing Line Lender plus the Swing Line Lender's RL Percentage of the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Swing Line Lender's RL Percentage of the then existing Revolving Loan Commitment Amount.

Appears in 1 contract

Samples: Credit Agreement (WRC Media Inc)

Revolving Loan Commitment and Swing Line Loan Commitment. Subject to compliance by the Obligors with the terms of Section 2.1.4, Section 5.1 and Section 5.2, the Revolving Loans and Swing Line Loans will be continued and/or made as set forth below: (a) From time to time on any Business Day occurring after concurrently with (or after) the Restatement Effective Date making of the Term B Loans but prior to the Revolving Loan Commitment Termination Date, (a) , each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), agrees that it ) will make loans (relative to such Lender, its “Revolving Loans”) to the Borrower denominated in Dollars U.S. Dollars, equal to such Lender’s Revolving Loan Percentage of the aggregate amount of each the Borrowing of the Revolving Loans requested by the Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its “Swing Line Loans”) denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment Commitment of the Swing Line each Lender described in this clause (a) is herein referred to as its “Swing Line Revolving Loan Commitment”. On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow the Revolving Loans. All Existing Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted continued as Revolving Loans hereunder. (b) From time to time on any Business Day occurring concurrently with (or required to make any Revolving Loan if, after giving effect thereto, (iafter) such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage the making of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed Term B Loans, but prior to the Revolving Loan Commitment Amount. FurthermoreTermination Date, the Swing Line Lender shall not be permitted or required will make loans (relative to make the Swing Line Lender, its “Swing Line Loans”) to the Borrower equal to the principal amount of the Swing Line Loans ifrequested by the Borrower. On the terms and subject to the conditions hereof, after giving effect theretothe Borrower may from time to time borrow, (A) the aggregate outstanding principal amount of all prepay and reborrow such Swing Line Loans. All Existing Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (B) the sum of the aggregate amount of all shall be continued as Swing Line Loans and all Revolving Loans outstanding plus the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Revolving Loan Commitment Amounthereunder.

Appears in 1 contract

Samples: Credit Agreement (Weight Watchers International Inc)

Revolving Loan Commitment and Swing Line Loan Commitment. From time to time on any Business Day occurring after the Restatement Effective Date but prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), agrees that it will make loans (relative to such Lender, its “Revolving Loans”) to the Parent Borrower denominated in Dollars equal to such Lender’s Revolving Loan Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by the Parent Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its “Swing Line Loans”) denominated in Dollars to the Parent Borrower equal to the principal amount of the Swing Line Loan requested by the Parent Borrower to be made on such day. The commitment of the Swing Line Lender described in this clause is herein referred to as its “Swing Line Loan Commitment”. On the terms and subject to the conditions hereof, the Parent Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (A) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (B) the sum of the aggregate amount of all Swing Line Loans and all Revolving Loans outstanding plus the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Revolving Loan Commitment Amount.

Appears in 1 contract

Samples: Credit Agreement (Hanesbrands Inc.)

Revolving Loan Commitment and Swing Line Loan Commitment. Borrower and the Lenders acknowledge the making of the Existing Revolving Loan and each Lender that has a Revolving Loan Commitment (referred to as a "Revolving Loan Lender"), severally and for itself alone, hereby agrees, on the terms and subject to the conditions hereinafter set forth and in reliance upon the representations and warranties set forth herein and in the other Loan Documents, that such Existing Revolving Loan (to the extent not prepaid with the proceeds of the IPO) shall continue to be outstanding as loans (each such loan, an "Original Revolving Loan") pursuant to the terms and conditions of this Agreement (together with loans advanced pursuant to clause (a) below, relative to such Lender, its "Revolving Loans") such that, on the Effective Date, the aggregate principal amount of Original Revolving Loans (the "Effective Date Revolving Loan Amount") shall equal $0 and each Lender that has a Revolving Loan Commitment shall be deemed to have outstanding Revolving Loans in an aggregate principal amount equal to its RL Percentage of such Effective Date Revolving Loan Amount. From time to time on any Business Day occurring on and after the Restatement Effective Date but prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), Lender agrees that it will make loans (relative to such Lender, its “Revolving Loans”) Loans to the Borrower denominated in Dollars equal to such Lender’s Revolving Loan 's RL Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by the Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its "Swing Line Loans") denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment Commitment of the Swing Line Lender described in this clause is herein referred to as its "Swing Line Loan Commitment". On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) the aggregate outstanding principal amount of all Revolving Loans of such Revolving Loan Lender, together with such Lender’s Revolving Exposure 's RL Percentage of the aggregate amount of all Swing Line Loans and Letter of Credit Outstandings, would exceed such Lender’s Revolving Loan 's RL Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (A) the aggregate outstanding principal amount of all Swing Line Loans would exceed (i) the then existing Swing Line Loan Commitment Amount or (Bii) the sum of when combined with the aggregate outstanding principal amount of all Swing Line Revolving Loans and all Revolving Loans outstanding plus the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed Outstandings, the then existing Revolving Loan Commitment Amount.

Appears in 1 contract

Samples: Credit Agreement (Global Power Equipment Group Inc/)

Revolving Loan Commitment and Swing Line Loan Commitment. From time to time on any Business Day occurring after the Restatement Effective Closing Date but prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), agrees that it will make loans (relative to such Lender, its “Revolving Loans”) to the Parent Borrower denominated in Dollars equal to such Lender’s Revolving Loan Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by the Parent Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its “Swing Line Loans”) denominated in Dollars to the Parent Borrower equal to the principal amount of the Swing Line Loan requested by the Parent Borrower to be made on such day. The commitment of the Swing Line Lender described in this clause is herein referred to as its “Swing Line Loan Commitment”. On the terms and subject to the conditions hereof, the Parent Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (A) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (B) the sum of the aggregate amount of all Swing Line Loans and all Revolving Loans outstanding plus the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Revolving Loan Commitment Amount.

Appears in 1 contract

Samples: Credit Agreement (Hanesbrands Inc.)

Revolving Loan Commitment and Swing Line Loan Commitment. From time to time on any Business Day occurring from and after the Restatement Effective Closing Date but prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), severally agrees that it will make loans (relative to such Lender, its "Revolving Loans") to the Administrative Borrower denominated in Dollars for the account of the applicable Borrower equal to such Lender’s Revolving Loan 's Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by any Borrower (or the Administrative Borrower on behalf of a Borrower) to be made on such day; andprovided that, in any event, the aggregate principal amount of Revolving Loans, Swing Line Loans and Letter of Credit Outstandings outstanding to all the Borrowers at any one time shall not exceed the Borrowing Base at such time. (b) the Swing Line Lender agrees that it will make loans (its "Swing Line Loans") denominated in Dollars to the Administrative Borrower for the account of the Applicable Borrower equal to the principal amount of the Swing Line Loan requested by any Borrower (or the Administrative Borrower on behalf of a Borrower) to be made on such day; provided that, in any event, (i) the aggregate principal amount of Revolving Loans, Swing Line Loans and Letter of Credit Outstandings outstanding to all the Borrowers at any one time shall not exceed the Borrowing Base at such time and (ii) the aggregate principal amount of Swing Line Loans outstanding to all the Borrowers at any one time shall not exceed the Swing Line Loan Commitment Amount. The commitment Commitment of the Swing Line Lender described in this clause is herein referred to as its "Swing Line Loan Commitment". (c) the Inventory Agent may, in its discretion, from time to time, upon not less than five (5) days prior notice to Administrative Borrower, reduce the lending formula(s) with respect to Eligible Inventory to the extent that the Inventory Agent determines in good faith that the liquidation value of the Eligible Inventory, or any category thereof, has decreased, including any decrease attributable to a change in the nature, quality, turnover or mix of the Inventory. The amount of any decrease in the lending formulas shall have a reasonable relationship to the event, condition or circumstance which is the basis for such decrease as determined by the Inventory Agent in good faith. In determining whether to reduce the lending formula(s), the Inventory Agent may consider events, conditions, contingencies or risks which are also considered in determining Eligible Inventory or in establishing Reserves, provided that, to the extent the Agents have established Reserves to address any circumstances, condition, event or contingency, the Agents shall not reduce the lending formulas for the same purpose. (d) in the event that the aggregate principal amount of the Revolving Loans, Swing Line Loans and Letter of Credit Outstandings outstanding to all the Borrowers exceeds the Borrowing Base, or the aggregate principal amount of Revolving Loans, Swing Line Loans and Letter of Credit Outstandings based on Eligible Inventory consisting of finished goods that is Perishable Inventory exceeds the sublimit set forth in clause (a)(i)(c)(3) of the definition of Borrowing Base, or the aggregate principal amount of Revolving Loans, Swing Line Loans and Letter of Credit Outstandings exceeds the Revolving Loan Commitment Amount, or the aggregate amount of the Letter of Credit Outstandings exceeds the Letter of Credit Commitment Amount, or the aggregate amount of the Swing Line Loans exceeds the Swing Line Loan Commitment Amount, such event shall not limit, waive or otherwise affect any rights of any Agent or the Lenders in such circumstances or on any future occasions and the Borrowers shall immediately repay to the Administrative Agent the entire amount of any such excess(es) for which payment is demanded. Notwithstanding anything to the contrary contained herein, the Administrative Agent may, at its option, from time to time, at any time on or after an Event of Default and for so long as the same is continuing or upon any other failure of a condition precedent to the making of Loans or the issuance of Letters of Credit hereunder, make such disbursements and advances ("Special Agent Advances") which the Agents, in their sole discretion deem necessary or desirable either (1) to preserve or protect the Collateral or any portion thereof or (2) to enhance the likelihood or maximize the amount of repayment by the Borrowers and Guarantors of the Loans and other Obligations, provided, that, the aggregate outstanding principal amount of the Special Agent Advances which the Administrative Agent may make or provide shall not exceed the aggregate outstanding amount equal to five (5%) percent of the Borrowing Base. Special Agent Advances shall be repayable on demand and be secured by the Collateral, provided, that, demand shall be made by the Administrative Agent for the repayment of any outstanding Special Agent Advance no later than 90 days after the date such Special Agent Advance was made (unless the Required Lenders shall have consented to a later date for demand). Special Agent Advances shall not constitute Loans but shall otherwise constitute Obligations hereunder. Without limitation of its obligations hereunder, each Lender agrees that it shall make available to the Administrative Agent, upon the Administrative Agent's demand, in immediately available funds, the amount equal to such Lender's Percentage of each such Special Agent Advance. On the terms and subject to the conditions hereof, the each Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) the aggregate outstanding principal amount of all Revolving Loans of such Lender’s Revolving Exposure , together with such Lender's Percentage of the aggregate amount of all Swing Line Loans and Letter of Credit Outstandings, would exceed such Lender’s Revolving Loan 's Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (Ai) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (Bii) unless otherwise agreed to by the Swing Line Lender, in its sole discretion, the sum of the aggregate amount of all Swing Line Loans and all Revolving Loans outstanding made by the Swing Line Lender plus the Swing Line Lender's Percentage of the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Swing Line Lender's Percentage of the then existing Revolving Loan Commitment Amount.

Appears in 1 contract

Samples: Credit Agreement (Winn Dixie Stores Inc)

Revolving Loan Commitment and Swing Line Loan Commitment. From time to time on any Business Day occurring from and after the Restatement Effective Closing Date but prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), severally agrees that it will make loans (relative to such Lender, its "Revolving Loans") to the Administrative Borrower denominated in Dollars for the account of the applicable Borrower equal to such Lender’s Revolving Loan 's Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by any Borrower (or the Administrative Borrower on behalf of a Borrower) to be made on such day; andprovided that, in any event, (i) the aggregate principal amount of Revolving Loans, Swing Line Loans and Subfacility Letter of Credit Outstandings outstanding with respect to all the Borrowers at any one time shall not exceed the Revolving Loan Commitment Amount and (ii) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding with respect to all the Borrowers at any one time shall not exceed the Borrowing Base at such time. (b) the Swing Line Lender agrees that it will make loans (its "Swing Line Loans") denominated in Dollars to the Administrative Borrower for the account of the applicable Borrower equal to the principal amount of the Swing Line Loan requested by any Borrower (or the Administrative Borrower on behalf of a Borrower) to be made on such day; provided that, in any event, (i) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding with respect to all the Borrowers at any one time shall not exceed the Borrowing Base at such time and (ii) the aggregate principal amount of Swing Line Loans outstanding to all the Borrowers at any one time shall not exceed the Swing Line Loan Commitment Amount. The commitment Commitment of the Swing Line Lender described in this clause is herein referred to as its "Swing Line Loan Commitment”. On ". (c) the terms and subject to the conditions hereofCollateral Monitoring Agent may, the Borrower may in its discretion, from time to time borrowtime, prepay upon not less than five (5) days prior notice to the Administrative Borrower (or, if an Event of Default has occurred and reborrow Revolving Loans and Swing Line Loansis continuing, no prior notice to the Administrative Borrower), reduce the lending formula(s) with respect to Borrowing Base Assets to the extent that the Collateral Monitoring Agent determines in good faith that the liquidation value of the Borrowing Base Assets or any category thereof has decreased, including any decrease attributable to a change in the nature, quality, turnover or mix of the Borrowing Base Assets. No Revolving Loan Lender The amount of any decrease in the lending formulas shall be permitted have a reasonable relationship to the event, condition or required circumstance which is the basis for such decrease as determined by the Collateral Monitoring Agent in good faith. In determining whether to make reduce the lending formula(s), the Collateral Monitoring Agent may consider events, conditions, contingencies or risks which are also considered in determining Eligible Inventory, Eligible Pharmacy Scripts, Eligible Pharmacy Receivables or Eligible Real Property, as the case may be, or in establishing Reserves, provided that, to the extent the Agents have established Reserves to address any Revolving Loan ifcircumstances, after giving effect theretocondition, event or contingency in a manner satisfactory to the Agents, the Agents shall not reduce the lending formulas for the same purpose. (d) in the event that (i) such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage the aggregate principal amount of the then existing Revolving Loan Commitment Amount or Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding with respect to all the Borrowers exceeds the Borrowing Base, (ii) the aggregate principal amount of Revolving Loans and Loans, Swing Line Loans outstanding together with the and Total Letter of Credit Outstandings and based on Eligible Inventory consisting of finished goods that is Perishable Inventory exceeds the OA Payment Outstandings would exceed sublimit set forth in clause (a)(i)(B)(3) of the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect theretodefinition of Borrowing Base, (Aiii) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (B) the sum of the aggregate amount of all Revolving Loans, Swing Line Loans and all Revolving Loans outstanding plus the aggregate amount of Total Letter of Credit Outstandings based on Eligible Pharmacy Scripts exceeds the sublimit set forth in clause (a)(i)(C)(2) of the definition of Borrowing Base, (iv) the aggregate principal amount of Revolving Loans, Swing Line Loans and OA Payment Total Letter of Credit Outstandings would exceed based on Eligible Pharmacy Receivables exceeds the sublimit set forth in clause (a)(i)(D)(2) of the definition of Borrowing Base, (v) the aggregate principal amount of Revolving Loan Commitment Amount.Loans, Swing Line Loans and Total Letter of Credit Outstandings based on Eligible Real Property exceeds the sublimit set forth in clause (a)(i)(E)

Appears in 1 contract

Samples: Credit Agreement (Winn Dixie Stores Inc)

Revolving Loan Commitment and Swing Line Loan Commitment. From time to time on any Business Day occurring from and after the Restatement Effective Date Closing Date, but prior to the Revolving Loan Commitment Termination Date,: (a) each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), ) agrees that it will make loans (relative to such Lender, its “Revolving Loans”) (i) to the Borrower Company, denominated in Dollars and (ii) to any Designated Borrower, denominated in an Alternate Currency, in each case, equal to such Lender’s Revolving Loan Percentage of the Dollar Equivalent (determined as of the most recent Revaluation Date) of the aggregate amount of each Borrowing of the Revolving Loans requested by the applicable Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its “Swing Line Loans”) denominated in Dollars to the Borrower Company equal to the principal amount of the Swing Line Loan requested by the Borrower Company to be made on such day. The commitment Commitment of the Swing Line Lender described in this clause is herein referred to as its “Swing Line Loan Commitment”. On the terms and subject to the conditions hereof, the Borrower Borrowers may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) the Dollar Equivalent of such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount or Amount, (ii) the Dollar Equivalent of the aggregate principal amount of Alternate Currency Loans, together with the Dollar Equivalent of Letters of Credit Outstandings, would exceed the Alternate Currency Commitment Amount, or (iii) the Dollar Equivalent of the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter Dollar Equivalent of Letters of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (Ax) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (By) unless otherwise agreed to by the Swing Line Lender, in its sole discretion, the sum of the aggregate amount of all Swing Line Loans and all Revolving Loans outstanding made by the Swing Line Lender plus the Swing Line Lender’s Revolving Loan Percentage of the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Swing Line Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount.

Appears in 1 contract

Samples: Credit Agreement (Ferro Corp)

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Revolving Loan Commitment and Swing Line Loan Commitment. (a) From time to time on any Business Day occurring from and after the Restatement Effective Closing Date to but prior to excluding the Revolving Loan Commitment Termination Date, (a) , each Revolving Lender that has a Revolving Loan Commitment (referred hereby commits to as a “Revolving Loan Lender”), agrees that it will make loans (relative to such Lender, its “Revolving Loans”) to the Borrower denominated in Dollars equal to such Revolving Lender’s Revolving Loan Percentage of the aggregate principal amount of each Borrowing of the Revolving Loans requested by the Borrower to be made on such day; and. The commitment of each Revolving Lender described in this clause is herein referred to as its “Revolving Loan Commitment”. (b) From time to time on any Business Day occurring from and after the Closing Date to but excluding the Revolving Commitment Termination Date, the Swing Line Lender agrees that it will hereby commits to make loans (its “Swing Line Loans”) denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment Commitment of the Swing Line Lender described in this clause is herein referred to as its “Swing Line Loan Commitment”. . (c) On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) the aggregate outstanding principal amount of all Revolving Loans of such Revolving Lender, together with such Lender’s Revolving Exposure Loan Percentage of the aggregate outstanding principal amount of all Swing Line Loans and Letter of Credit Outstandings of such Revolving Lender, would exceed such Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (Ai) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (Bii) the sum of the aggregate amount of all Swing Line Loans and all Revolving Loans outstanding made by the Swing Line Lender plus the Swing Line Lender’s Revolving Loan Percentage of the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Swing Line Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount.

Appears in 1 contract

Samples: Credit Agreement (Graphic Packaging Corp)

Revolving Loan Commitment and Swing Line Loan Commitment. Subject to compliance by the Obligors with the terms of Section 2.1.4, Section 5.1 and Section 5.2, the Revolving Loans and Swing Line Loans will be continued and/or made as set forth below: (a) From time to time on any Business Day occurring after concurrently with (or after) the Restatement Effective Date making of the Term Loans but prior to the Revolving Loan Commitment Termination Date, (a) , each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), agrees that it ) will make loans (relative to such Lender, its “Revolving Loans”) to the Borrower denominated WWI in Dollars U.S. Dollars, equal to such Lender’s Revolving Loan Percentage of the aggregate amount of each the Borrowing of the Revolving Loans requested by the Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its “Swing Line Loans”) denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment Commitment of the Swing Line each Lender described in this clause (a) is herein referred to as its “Swing Line Revolving Loan Commitment”. On the terms and subject to the conditions hereof, the any Borrower may from time to time borrow, prepay and reborrow the Revolving Loans. All Existing Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted continued as Revolving Loans hereunder. (b) From time to time on any Business Day occurring concurrently with (or required to make any Revolving Loan if, after giving effect thereto, (iafter) such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage the making of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed Term Loans, but prior to the Revolving Loan Commitment Amount. FurthermoreTermination Date, the Swing Line Lender shall not be permitted or required will make loans (relative to make the Swing Line Lender, its “Swing Line Loans”) to WWI equal to the principal amount of the Swing Line Loans ifrequested by WWI. On the terms and subject to the conditions hereof, after giving effect theretoWWI may from time to time borrow, (A) the aggregate outstanding principal amount of all prepay and reborrow such Swing Line Loans. All Existing Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (B) the sum of the aggregate amount of all shall be continued as Swing Line Loans and all Revolving Loans outstanding plus the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Revolving Loan Commitment Amounthereunder.

Appears in 1 contract

Samples: Amendment No. 5 (Weight Watchers International Inc)

Revolving Loan Commitment and Swing Line Loan Commitment. Borrower and the Lenders acknowledge the making of the Existing Revolving Loan and each Lender that has a Revolving Loan Commitment (referred to as a "Revolving Loan Lender"), severally and for itself alone, hereby agrees, on the terms and subject to the conditions hereinafter set forth and in reliance upon the representations and warranties set forth herein and in the other Loan Documents, that such Existing Revolving Loan (to the extent not prepaid with the proceeds of the IPO) shall continue to be outstanding as loans (each such loan, an "Original Revolving Loan") pursuant to the terms and conditions of this Agreement (together with loans advanced pursuant to clause (a) below, relative to such Lender, its "Revolving Loans") such that, on the Effective Date, each Lender that has a Revolving Loan Commitment shall be deemed to have outstanding Revolving Loans in an aggregate principal amount equal to its RL Percentage of the aggregate principal amount of Revolving Loans outstanding on the Effective Date. From time to time on any Business Day occurring on and after the Restatement Effective Date but prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), Lender agrees that it will make loans (relative to such Lender, its “Revolving Loans”) Loans to the Borrower denominated in Dollars equal to such Lender’s Revolving Loan 's RL Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by the Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its "Swing Line Loans") denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment Commitment of the Swing Line Lender described in this clause is herein referred to as its "Swing Line Loan Commitment". On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall 34 68 be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) the aggregate outstanding principal amount of all Revolving Loans of such Revolving Loan Lender, together with such Lender’s Revolving Exposure 's RL Percentage of the aggregate amount of all Swing Line Loans and Letter of Credit Outstandings, would exceed such Lender’s Revolving Loan 's RL Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (A) the aggregate outstanding principal amount of all Swing Line Loans would exceed (i) the then existing Swing Line Loan Commitment Amount or (Bii) the sum of when combined with the aggregate outstanding principal amount of all Swing Line Revolving Loans and all Revolving Loans outstanding plus the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed Outstandings, the then existing Revolving Loan Commitment Amount.

Appears in 1 contract

Samples: Assignment, Amendment and Restatement Agreement (Global Power Equipment Group Inc/)

Revolving Loan Commitment and Swing Line Loan Commitment. Subject to compliance by the Obligors with the terms of SECTION 2.1.4, SECTION 5.1 and SECTION 5.2, the Revolving Loans and Swing Line Loans will be continued and/or made as set forth below: (a) From time to time on any Business Day occurring after concurrently with (or after) the Restatement Effective Date making of the Term Loans but prior to the Revolving Loan Commitment Termination Date, (a) , each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), agrees that it will make loans (relative to such Lender, its “Revolving Loans”"REVOLVING LOANS") to the Borrower denominated WWI in Dollars U.S. Dollars, equal to such Lender’s Revolving Loan 's Percentage of the aggregate amount of each the Borrowing of the Revolving Loans requested by the Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its “Swing Line Loans”) denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment Commitment of the Swing Line each Lender described in this clause CLAUSE (A) is herein referred to as its “Swing Line Loan Commitment”"REVOLVING LOAN COMMITMENT". On the terms and subject to the conditions hereof, the any Borrower may from time to time borrow, prepay and reborrow the Revolving Loans. All Existing Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted continued as Revolving Loans hereunder. (b) From time to time on any Business Day occurring concurrently with (or required to make any Revolving Loan if, after giving effect thereto, (iafter) such Lender’s Revolving Exposure would exceed such Lender’s Revolving Loan Percentage the making of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed Term Loans, but prior to the Revolving Loan Commitment Amount. FurthermoreTermination Date, the Swing Line Lender shall not be permitted or required will make loans (relative to make the Swing Line Lender, its "SWING LINE LOANS") to WWI equal to the principal amount of the Swing Line Loans ifrequested by WWI. On the terms and subject to the conditions hereof, after giving effect theretoWWI may from time to time borrow, (A) the aggregate outstanding principal amount of all prepay and reborrow such Swing Line Loans. All Existing Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (B) the sum of the aggregate amount of all shall be continued as Swing Line Loans and all Revolving Loans outstanding plus the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Revolving Loan Commitment Amounthereunder.

Appears in 1 contract

Samples: Credit Agreement (Weight Watchers International Inc)

Revolving Loan Commitment and Swing Line Loan Commitment. From Subject to compliance by the Borrowers with the terms of Article III of Amendment No. 2 and Section 5.2, from time to time on any Business Day occurring on or after the Restatement Amendment No. 2 Effective Date but prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a "Revolving Loan Lender”), ") agrees that it will make loans (relative to such Lender, its "Revolving Loans") to the applicable Borrower denominated in Dollars equal to such Lender’s Revolving Loan 's RL Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by the such Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its "Swing Line Loans") denominated in Dollars to the applicable Borrower equal to the principal amount of the Swing Line Loan requested by the such Borrower to be made on such day. The commitment Commitment of the Swing Line Lender described in this clause is herein referred to as its "Swing Line Loan Commitment". On the terms and subject to the conditions hereof, the each Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) the aggregate outstanding principal amount of all Revolving Loans of such Revolving Loan Lender, together with such Lender’s Revolving Exposure 's RL Percentage of the aggregate amount of all Swing Line Loans and Letter of Credit Outstandings, would exceed such Lender’s Revolving Loan 's RL Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (Ai) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or Amount, (Bii) the sum of the aggregate amount of all outstanding Swing Line Loans plus the aggregate amount of all Revolving Loans and Letter of Credit Outstandings would exceed the Revolving Loan Commitment Amount or (iii) unless otherwise agreed to by the Swing Line Lender, in its sole discretion, the sum of all Swing Line Loans and all Revolving Loans outstanding made by the Swing Line Lender plus the Swing Line Lender's RL Percentage of the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Swing Line Lender's RL Percentage of the then existing Revolving Loan Commitment Amount.

Appears in 1 contract

Samples: Credit Agreement (WRC Media Inc)

Revolving Loan Commitment and Swing Line Loan Commitment. From time to time on any Business Day occurring from and after the Restatement Effective Closing Date but prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a “Revolving Loan Lender”), severally agrees that it will make loans (relative to such Lender, its “Revolving Loans”) to the Administrative Borrower denominated in Dollars for the account of the applicable Borrower equal to such Lender’s Revolving Loan Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by any Borrower (or the Administrative Borrower on behalf of a Borrower) to be made on such day; andprovided that, in any event, (i) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding at any one time shall not exceed the Borrowing Base at such time, (ii) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding at any one time based on Non-Leasehold Availability shall not exceed the Maximum Non-Leasehold Availability Amount at such time, and (iii) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding at any one time based on Leasehold Availability shall not exceed the Maximum Leasehold Availability Amount at such time; (b) the Swing Line Lender agrees that it will make loans (its “Swing Line Loans”) denominated in Dollars to the Administrative Borrower for the account of the applicable Borrower equal to the principal amount of the Swing Line Loan requested by any Borrower (or the Administrative Borrower on behalf of a Borrower) to be made on such day; provided that, in any event, (i) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding at any one time shall not exceed the Borrowing Base at such time and (ii) the aggregate principal amount of Swing Line Loans outstanding at any one time shall not exceed the Swing Line Loan Commitment Amount. The commitment Commitment of the Swing Line Lender described in this clause is herein referred to as its “Swing Line Loan Commitment”; (c) the Agent may, in its discretion, from time to time, upon not less than five (5) days prior notice to the Administrative Borrower (or, if an Event of Default has occurred and is continuing, no prior notice to the Administrative Borrower), reduce the lending formula(s) with respect to Borrowing Base Assets to the extent that the Agent determines in good faith that the liquidation value of the Borrowing Base Assets or any category thereof has decreased, including any decrease attributable to a change in the nature, quality, turnover or mix of the Borrowing Base Assets. The amount of any decrease in the lending formulas shall have a reasonable relationship to the event, condition or circumstance which is the basis for such decrease as determined by the Agent in good faith. In determining whether to reduce the lending formula(s), the Agent may consider events, conditions, contingencies or risks which are also considered in determining Eligible Inventory, Eligible Pharmacy Scripts, Eligible Pharmacy Receivables, Eligible Real Property or Eligible Leasehold Property, as the case may be, or in establishing Reserves, provided that, to the extent the Agent has established Reserves to address any circumstances, condition, event or contingency in a manner satisfactory to the Agent, the Agent shall not reduce the lending formulas for the same purpose. (d) in the event that (i) the aggregate principal amount of the Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding exceeds the Borrowing Base, (ii) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings based on Eligible Inventory consisting of finished goods that is Perishable Inventory exceeds the sublimit set forth in clause (a)(i)(B)(3) of the definition of Borrowing Base, (iii) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings based on Eligible Pharmacy Scripts exceeds the sublimit set forth in clause (a)(i)(C)(2) of the definition of Borrowing Base, (iv) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings based on Eligible Pharmacy Receivables exceeds the sublimit set forth in clause (a)(i)(D) of the definition of Borrowing Base, (v) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings based on Eligible Real Property exceeds the sublimit set forth in clause (a)(i)(E)(2) of the definition of Borrowing Base, (vi) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding based on Non-Leasehold Availability exceeds the Maximum Non-Leasehold Availability Amount, (vii) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding based on Leasehold Availability exceeds the Maximum Leasehold Availability Amount, (viii) the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding based on clause (a)(i)(G) of the definition of Borrowing Base exceeds the Supplemental Junior Availability, (ix) the Total Letter of Credit Outstandings exceeds the Total Letter of Credit commitment, (x) the aggregate amount of the Subfacility Letter of Credit Outstandings exceeds the Subfacility Letter of Credit Commitment Amount, or (xi) the aggregate amount of the Swing Line Loans exceeds the Swing Line Loan Commitment Amount, in each case such event shall not limit, waive or otherwise affect any rights of the Agent or the Lenders in such circumstances or on any future occasions and the Borrowers shall immediately repay to the Agent the entire amount of any such excess(es) for which payment is demanded. Notwithstanding anything to the contrary contained herein, the Agent may, at its option, from time to time, at any time on or after an Event of Default and for so long as the same is continuing or upon any other failure of a condition precedent to the making of Loans or the issuance of Letters of Credit hereunder, make such disbursements and advances (“Special Agent Advances”) which the Agent, in its sole discretion, deems necessary or desirable either (x) to preserve or protect the Collateral or any portion thereof or (y) to enhance the likelihood or maximize the amount of repayment by the Borrowers and Guarantors of the Loans and other Obligations, provided, that, (i) the aggregate outstanding principal amount of the Special Agent Advances which the Agent may make or provide, plus the then outstanding principal amount of additional Loans or Letters of Credit which the Agent or the Issuer may make or provide as set forth in Section 10.20 hereof, shall not exceed the aggregate outstanding amount equal to five (5%) percent of the Borrowing Base, (ii) the aggregate outstanding principal amount of the Special Agent Advances which the Agent may make or provide plus the aggregate principal amount of Revolving Loans, Swing Line Loans and Total Letter of Credit Outstandings outstanding with respect to all the Borrowers at any one time shall not exceed the Total Commitment Amount and (iii) the aggregate outstanding principal amount of the Special Agent Advances which the Agent may make or provide plus the aggregate principal amount of Revolving Loans, Swing Line Loans and Subfacility Letter of Credit Outstandings outstanding with respect to all the Borrowers at any one time shall not exceed the Revolving Loan Commitment Amount. Special Agent Advances shall be repayable on demand and be secured by the Collateral, provided that, demand shall be made by the Agent for the repayment of any outstanding Special Agent Advance no later than 90 days after the date such Special Agent Advance was made (unless the Required Lenders shall have consented to a later date for demand). Special Agent Advances shall not constitute Loans but shall otherwise constitute Obligations hereunder. Without limitation of its obligations hereunder, each Lender agrees that it shall make available to the Agent, upon the Agent’s demand, in immediately available funds, the amount equal to such Lender’s Percentage of each such Special Agent Advance. On the terms and subject to the conditions hereof, the each Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) the aggregate outstanding principal amount of all Revolving Loans of such Lender, together with such Lender’s Revolving Exposure Percentage of the aggregate amount of all Swing Line Loans and Subfacility Letter of Credit Outstandings, would exceed such Lender’s Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (Ai) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (Bii) unless otherwise agreed to by the Swing Line Lender, in its sole discretion, the sum of the aggregate amount of all Swing Line Loans and all Revolving Loans outstanding made by the Swing Line Lender plus the Swing Line Lender’s Percentage of the aggregate amount of Subfacility Letter of Credit Outstandings and OA Payment Outstandings would exceed the Swing Line Lender’s Percentage of the then existing Revolving Loan Commitment Amount.

Appears in 1 contract

Samples: Credit Agreement (Winn Dixie Stores Inc)

Revolving Loan Commitment and Swing Line Loan Commitment. From time to time on any Business Day occurring from and after the Restatement Effective Date but until five Business Days prior to the Revolving Loan Commitment Termination Date, (a) each Lender that has a Revolving Loan Commitment (referred to as a "Revolving Loan Lender"), agrees that it will make loans (relative to such Lender, its "Revolving Loans") to the Borrower denominated in Dollars equal to such Lender’s 's Revolving Loan Percentage of the aggregate amount of each Borrowing of the Revolving Loans requested by the Borrower to be made on such day; and (b) the Swing Line Lender agrees that it will make loans (its "Swing Line Loans") denominated in Dollars to the Borrower equal to the principal amount of the Swing Line Loan requested by the Borrower to be made on such day. The commitment Commitment of the Swing Line Lender described in this clause is herein referred to as its "Swing Line Loan Commitment". On the terms and subject to the conditions hereof, the Borrower may from time to time borrow, prepay and reborrow Revolving Loans and Swing Line Loans. No Revolving Loan Lender shall be permitted or required to make any Revolving Loan if, after giving effect thereto, (i) the aggregate outstanding principal amount of all Revolving Loans of such Revolving Loan Lender, together with such Lender’s 's Revolving Exposure Loan Percentage of the aggregate amount of all Swing Line Loans and Letter of Credit Outstandings, would exceed such Lender’s 's Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount or (ii) the aggregate amount of Revolving Loans and Swing Line Loans outstanding together with the Letter of Credit Outstandings and the OA Payment Outstandings would exceed the Revolving Loan Commitment Amount. Furthermore, the Swing Line Lender shall not be permitted or required to make Swing Line Loans if, after giving effect thereto, (Ai) the aggregate outstanding principal amount of all Swing Line Loans would exceed the then existing Swing Line Loan Commitment Amount or (Bii) unless otherwise agreed to by the Swing Line Lender, in its sole discretion, the sum of the aggregate amount of all Swing Line Loans and all Revolving Loans outstanding made by the Swing Line Lender plus the Swing Line Lender's Revolving Loan Percentage of the aggregate amount of Letter of Credit Outstandings and OA Payment Outstandings would exceed the Swing Line Lender's Revolving Loan Percentage of the then existing Revolving Loan Commitment Amount.

Appears in 1 contract

Samples: Credit Agreement (Southern Bottled Water Co Inc)

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