Revolving Loan Commitments Clause Samples

Revolving Loan Commitments. Lender will make loans to Borrower on a revolving basis (“Revolving Loans”) from time to time and Borrower may repay such loans from time to time until the Termination Date in such amounts as Borrower may request from Lender; provided, that after giving effect to such Revolving Loans, the Revolving Loans outstanding will not at any time exceed the Borrowing Availability.

Revolving Loan Commitments. (a) Subject to the terms and conditions set forth herein, each Lender (other than the Canadian Lenders) agrees to make Loans to the US Borrowers from time to time during the Availability Period in an aggregate principal amount that will not result in such Lender’s Revolving Credit Exposure exceeding such Lender’s Revolving Loan Commitment. Notwithstanding the foregoing, the aggregate principal amount of Loans outstanding at any time to the US Borrowers shall not exceed (1) the lesser of (A) the Commitment and (B) an amount equal to the sum of (i) up to eighty percent (80%) of the Net Amount of Eligible Receivables, plus (ii) until such time as the Administrative Agent shall have received an inventory appraisal, in form and substance satisfactory to it, establishing the net orderly liquidation value of Eligible Inventory, up to fifty percent (50%) of the Net Amount of Eligible Inventory and thereafter, the greater of (a) up to eighty-five percent (85%) of the net orderly liquidation value of Eligible Inventory and (b) up to fifty percent (50%) of the Net Amount of Eligible Inventory (this clause (1)(B) referred to herein as the “Borrowing Base”) minus (2) the LC Exposure at such time (not to exceed $10,000,000 at any time) minus (3) the Canadian Loans at such time. Notwithstanding any other provisions of this Agreement, in computing the Borrowing Base for purposes of compliance with this Agreement, Eligible Inventory of WP Canada and Eligible Receivables of WP Canada shall not be included in the foregoing computations until WP Canada has delivered the Cross-Border Security Notice in accordance with Section 2.01(g) and the Administrative Agent shall have determined to its reasonable satisfaction that such Inventory and Receivables of WP Canada qualifies as Eligible Inventory and Eligible Receivables (including, without limitation, evidence of filing a Movable Hypothec in Quebec, Canada with respect to the Canadian Support Collateral) and the US Borrowers shall be deemed to borrow against Eligible Inventory and Eligible Receivables of Water Pik, Laars and Jandy before being entitled to borrow against and request that WP Canada deliver such a Cross-Border Security Notice for purposes of the US Borrowers borrowing against Eligible Inventory and Eligible Receivables of WP Canada. (b) Subject to the terms and conditions set forth herein, each Canadian Lender agrees to make Canadian Loans to WP Canada from time to time during the Availability Period in an aggregat...

Revolving Loan Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make revolving loans to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (i) such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment or (ii) the total Revolving Credit Exposures exceeding the total Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, repay and reborrow the Loans.

Revolving Loan Commitments. Subject to the terms and conditions hereof and relying upon the representations and warranties of the Loan Parties set forth herein and in the other Loan Documents, each Revolving Lender severally agrees to make Revolving Loans to the Borrower at any time or from time to time on or after the Closing Date to, but not including, the Maturity Date with respect to the Revolving Credit Facility, provided, that after giving effect to each such Revolving Loan (i) the aggregate principal amount of such Revolving Lender’s Revolving Loans shall not exceed its Available Revolving Commitment and (ii) the Revolving Credit Facility Usage shall not exceed the Revolving Commitments. Each request by the Borrower for a Revolving Loan shall be deemed to be a representation by the Borrower that it shall be in compliance with the proviso at the end of the preceding sentence and with Article IV after giving effect to the requested Revolving Loan. Within such limits of time and amount and subject to the other provisions of this Agreement, the Borrower may borrow, repay and reborrow pursuant to this Section 2.2.

Revolving Loan Commitments. Subject to the terms and conditions set forth herein, each Lender severally agrees to make Loans to the Borrower in Dollars from time to time during the Availability Period applicable to such Lender in an aggregate principal amount that will not result in (i) the amount of such ▇▇▇▇▇▇’s Revolving Credit Exposure exceeding such ▇▇▇▇▇▇’s Revolving Loan Commitment or (ii) the sum of the total Revolving Credit Exposures exceeding the sum of all Revolving Loan Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Loans.

Revolving Loan Commitments. During the Revolving Loan Commitment Period, subject to the terms and conditions hereof, each Lender severally agrees to make Revolving Loans to Borrower Representative in an aggregate principal amount at any time outstanding that will not (subject to the provisions of Section 9.9) result in such Lender’s Revolving Exposure exceeding the lesser of (i) such Lender’s Revolving Loan Commitment and (ii) such Lender’s Pro Rata Share multiplied by the Borrowing Base. Subject to the other terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1(a) may be repaid and reborrowed during the Revolving Loan Commitment Period. Each Lender’s Revolving Loan Commitment shall expire on the Revolving Loan Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Loan Commitments shall be paid in full no later than such date.

Revolving Loan Commitments. Subject to the terms and conditions set forth herein, the Revolving Loan Lender agrees to make loans (each, a "Revolving Loan") to the Borrower from time to time during the Revolving Loan Commitment Period in such amounts as the Borrower may request under this Section 2.2 (and thereafter to make additional Revolving Loans to reimburse the Issuing Bank for Drawings under Letters of Credit as provided in Section 2.13); provided that the sum of (A) the aggregate principal amount outstanding of all Revolving Loans made by the Revolving Loan Lender after giving effect to all prepayment and repayments thereof and (B) the aggregate outstanding Letter of Credit Usage shall not exceed (1) the Revolving Loan Commitment at any given time or (2) the Borrowing Base as determined on the basis of the most recent monthly operating report of the Borrower and its Subsidiaries. Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrower may borrow, repay and reborrow Revolving Loans until the Revolving Loan Commitment Termination Date.

Revolving Loan Commitments. From and including the Closing Date and prior to the Revolving Loan Termination Date, upon the satisfaction of the conditions precedent set forth in Section 4.1 and 4.2, as applicable, each Lender severally and not jointly agrees, on the terms and conditions set forth in this Agreement, to (i) make Revolving Loans to the Borrower from time to time and (ii) participate in Facility LCs issued upon the request of the Borrower, in each case in an amount that will not result in such Lender’s Outstanding Revolving Credit Exposure exceeding such Lender’s Revolving Credit Commitment; provided that at no time shall the Aggregate Outstanding Revolving Credit Exposure hereunder exceed the Aggregate Revolving Loan Commitment. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The commitment of each Lender to lend hereunder shall automatically expire on the Revolving Loan Termination Date. The LC Issuer will issue Facility LCs hereunder on the terms and conditions set forth in Section 2.20.

Revolving Loan Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make Loans (denominated in Dollars) to Borrower from time to time on any Business Day during the Availability Period in an aggregate principal amount that will not result in (i) such Lender’s Credit Exposure exceeding such Lender’s Commitment or (ii) the sum of the total Credit Exposures exceeding the sum of the total Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, Borrower may borrow, prepay and reborrow Loans.