Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after April 14, 1999, to and including June 21, 1999, Twenty Million Dollars (“$20,000,000“); (ii) on and after June 21, 1999, to and including June 29, 1999, Nineteen Million Dollars (“$19,000,000“); (iii) on and after June 30, 1999, to and including July 30, 1999, Eighteen Million Dollars (“$18,000,000“); (iii) on and after July 31, 1999, to and including August 30, 1999, Sixteen Million Dollars (“$16,000,000“); and (iv) on and after August 31, 1999, Fifteen Million Dollars (“$15,000,000“), each as reduced by subsection 2.4(B). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier of (i) the termination of the Revolving Loan Commitment pursuant to subsection 8.3 or (ii) the Termination Date. Except as otherwise provided herein no Lender shall have any obligation to make an advance under this subsection 2.1(A) to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.
Appears in 2 contracts
Samples: Loan and Security Agreement (Tower Air Inc), Loan and Security Agreement (Tower Air Inc)
Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after April 14August 6, 1999, to and including June 21September 2, 1999, Twenty Nineteen Million Dollars (“$20,000,000“19,000,000); (ii) on and after June 21September 3, 1999, to and including June 29September 9, 1999, Nineteen Eighteen Million Two Hundred Fifty Thousand Dollars (“$19,000,000“18,250,000); (iii) on and after June 30September 10, 1999, to and including July 30September 16, 1999, Eighteen Seventeen Million Five Hundred Thousand Dollars (“$18,000,000“17,500,000); (iiiiv) on and after July 31September 17, 1999, to and including August 30September 23, 1999, Sixteen Million Seven Hundred Fifty Thousand Dollars ($16,750,000); (v) on and after September 24, 1999, to and including September 29, 1999, Sixteen Million Dollars (“$16,000,000“); and (ivvi) on and after August 31September 30, 1999, Fifteen Million Dollars (“$15,000,000“), each as reduced by subsection 2.4(B). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier of (i) the termination of the Revolving Loan Commitment pursuant to subsection 8.3 or (ii) the Termination Date. Except as otherwise provided herein no Lender shall have any obligation to make an advance under this subsection 2.1(A) to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.
Appears in 2 contracts
Samples: Loan and Security Agreement (Tower Air Inc), Loan and Security Agreement (Tower Air Inc)
Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after April 14July 30, 1999, to and including June 21August 9, 1999, Twenty Nineteen Million Dollars (“$20,000,000“19,000,000); (ii) on and after June 21, 1999, to and including June 29, 1999, Nineteen Million Dollars (“$19,000,000“); (iii) on and after June 30, 1999, to and including July 30, 1999, Eighteen Million Dollars (“$18,000,000“); (iii) on and after July 31August 10, 1999, to and including August 30, 1999, Sixteen Million Dollars (“$16,000,000“); and (iv) on and after August 31, 1999, Fifteen Million Dollars (“$15,000,000“), each as reduced by subsection 2.4(B). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier of (i) the termination of the Revolving Loan Commitment pursuant to subsection 8.3 or (ii) the Termination Date. Except as otherwise provided herein no Lender shall have any obligation to make an advance under this subsection 2.1(A) to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.
Appears in 2 contracts
Samples: Loan and Security Agreement (Tower Air Inc), Loan and Security Agreement (Tower Air Inc)
Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after April 14, 1999, to and including June 21, 1999, Twenty Million Dollars (“$20,000,000“); (ii) on and after June 21, 1999, to and including June 29July 30, 1999, Nineteen Million Dollars (“$19,000,000“); (iii) on and after June 30, 1999, to and including July 30, 1999, Eighteen Million Dollars (“$18,000,000“); (iii) on and after July 31, 1999, to and including August 30, 1999, Sixteen Million Dollars (“$16,000,000“); and (iv) on and after August 31, 1999, Fifteen Million Dollars (“$15,000,000“), each as reduced by subsection 2.4(B). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier of (i) the termination of the Revolving Loan Commitment pursuant to subsection 8.3 or (ii) the Termination Date. Except as otherwise provided herein no Lender shall have any obligation to make an advance under this subsection 2.1(A) to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.
Appears in 2 contracts
Samples: Loan and Security Agreement (Tower Air Inc), Loan and Security Agreement (Tower Air Inc)
Revolving Loan. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower and the other Loan Parties set forth herein and in the other Loan Documents, each Lender, severally, agrees to lend to Borrower from time to time, its Pro Rata Share of each Revolving Advance. From and after the Closing Date through the Termination Date, the aggregate amount of all Revolving Loan Commitments shall not exceed the following amounts during the following periods: (i) from and after April 14September 8, 1999, to and including June 21September 12, 1999, Twenty Nineteen Million Dollars (“$20,000,000“19,000,000); (ii) on and after June 21September 13, 1999, to and including June 29September 19, 1999, Nineteen Eighteen Million Dollars (“$19,000,000“18,000,000); (iii) on and after June 30September 20, 1999, to and including July 30September 26, 1999, Eighteen Seventeen Million Dollars (“$18,000,000“17,000,000); (iiiiv) on and after July 31September 27, 1999, to and including August 30September 29, 1999, Sixteen Million Dollars (“$16,000,000“); and (ivv) on and after August 31September 30, 1999, Fifteen Million Dollars (“$15,000,000“), each as reduced by subsection 2.4(B). Amounts borrowed under this subsection 2.1(A) may be repaid and reborrowed at any time prior to the earlier of (i) the termination of the Revolving Loan Commitment pursuant to subsection 8.3 or (ii) the Termination Date. Except as otherwise provided herein no Lender shall have any obligation to make an advance under this subsection 2.1(A) to the extent such advance would cause the Revolving Loan (after giving effect to any immediate application of the proceeds thereof) to exceed the Maximum Revolving Loan Amount.
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