Common use of REVOLVING LOANS AND CREDIT ACCOMMODATIONS Clause in Contracts

REVOLVING LOANS AND CREDIT ACCOMMODATIONS. From time to time during the Term at Borrower's request, make revolving loans to Borrower ("Revolving Loans"), and make letters of credit, bankers acceptances and other credit accommodations ("Credit Accommodations") available to Borrower, in each case to the extent that there is sufficient Availability at the time of such request to cover, dollar for dollar, the requested Revolving Loan or Credit Accommodation; provided, that after giving effect to such Revolving Loan or Credit Accommodation, (x) the aggregate outstanding balance of all monetary Obligations of each Company to Lender (including the principal balance of any term loans owing by each Company to Lender and, solely for the purpose of determining compliance with this provision, the Credit Accommodation Balance of each Company) will not exceed the Maximum Facility Amount set forth in Section 1 of Schedule A and (y) none of the other Loan Limits set forth in Section 1 of Schedule A will be exceeded. For this purpose, "Availability" means: (i) the aggregate amount of Eligible Accounts of the Companies (less maximum existing or asserted taxes, discounts, credits and allowances) multiplied by the Accounts Advance Rate set forth in Section 1(b)(i) of Schedule A but not to exceed the Accounts Sublimit set forth in Section 1(c) of Schedule A; (ii) the lower of cost or market value of Eligible Inventory multiplied by the Inventory Advance Rate(s) set forth in Section 1(b)(ii) of Schedule A, but not to exceed the Inventory Sublimit(s) set forth in Section 1(d) of Schedule A; (iii) all Reserves which Lender has established pursuant to Section 1.2 (including those to be established in connection with the requested Revolving Loan or Credit Accommodation); and (iv) the outstanding balance of all of the monetary Obligations of the Companies (excluding the Credit Accommodation Balance of each Company and the principal balance of each term loan owing by a Company to Lender).

REVOLVING LOANS AND CREDIT ACCOMMODATIONS. From time to time during the Term at Borrower's request, each Lender with a Revolving Loan Commitment agrees (severally and not jointly) to make revolving loans to Borrower ("Revolving Loans"); for the sake of clarity, such term also includes all Protective Advances and Disproportionate Advances) and make letters of credit, bankers acceptances and other credit accommodations ("Credit Accommodations") available to Borrower, in proportion to such Lender's Pro Rata Revolving Share of the requested Revolving Loans, up to such Lender's Revolving Loan Commitment, in each case to the extent that there is sufficient Availability (defined below) at the time of such request to cover, dollar for dollar, the requested Revolving Loan or Credit Accommodation; provided, that after giving effect to such Revolving Loan or Credit Accommodation, (x) the aggregate outstanding balance of all monetary Obligations of each Company to Lender (including the principal balance of any term loans owing by each Company to Lender and, solely for the purpose of determining compliance with this provision, Term Loans and the Credit Accommodation Balance of each CompanyBalance) will not exceed the Maximum Facility Amount set forth in Section 1 of Schedule A and (y) none of the other Loan Limits set forth in Section 1 of Schedule A will be exceeded. For this purpose, "Availability" means: (i) the aggregate amount of Eligible Accounts of other than the Companies Cummins Accounts (less maximum existing or asserted taxes, discounts, credits and allowances) multiplied by the Accounts Advance Rate set forth (but in Section 1(b)(i) of Schedule A but not no event to exceed the Accounts Sublimit set forth in Section 1(c) of Schedule ASublimit); (ii) the aggregate amount of Eligible Accounts consisting solely of the Cummins Accounts (less maximum existing or asserted taxes, discounts, credits and allowances) multiplied by the Inventory Advance Rate (but in no event to exceed together in the aggregate with the advances pursuant to clause (iii) below, the Inventory Sublimit); (iii) the lower of cost or market value (or, if applicable, the appraised net orderly liquidation value) of Eligible Inventory multiplied by the applicable Inventory Advance Rate(s) set forth in Section 1(b)(ii) of Schedule ARate, but not to exceed exceed, together in the aggregate with the advances pursuant to clause (ii) above, the Inventory Sublimit(s) set forth in Section 1(d) of Schedule ASublimit; (iiiiv) all Reserves which Lender Agent has established pursuant to Section 1.2 (including those to be established in connection with the requested Revolving Loan or Credit Accommodation); and (ivv) the outstanding principal balance of all Revolving Loans. Neither Agent nor any Lender shall be responsible for any failure by any other Lender to perform its obligations to make Revolving Loans, or make available Letter of Credit Accommodations, hereunder, and the failure of any Lender to make, or make available, its Pro Rata Revolving Share of any Revolving Loan or Letter of Credit Accommodation hereunder shall not relieve any other Lender of its obligation, if any, to make its Pro Rata Revolving Share (or, if applicable, its Adjusted Pro Rata Revolving Share) of any Revolving Loans or Letter of Credit Accommodation hereunder. If Borrower makes a request for a Revolving Loan as provided herein, Agent, at its option and in its sole discretion, shall do either of the monetary Obligations following: (A) advance the amount of the Companies proposed Revolving Loan to Borrower disproportionately (excluding a "Disproportionate Advance") out of Agent's own funds on behalf of the Credit Accommodation Balance Lenders according to their respective Pro Rata Revolving Loan Shares thereof (or, if applicable, their respective Adjusted Pro Rata Revolving Shares thereof), which advance shall be on the same day as Borrower's request therefor if Borrower notifies Agent of such request by 1:00 P.M. (New York time) on such day, and request settlement in accordance with Section 11 such that upon such settlement each Company Lender's share of the outstanding Revolving Loans (including the amount of any Disproportionate Advance) equals its Pro Rata Revolving Share (or, if applicable, its Adjusted Pro Rata Revolving Share); or (B) notify each Lender by telecopy, electronic mail or other similar form of teletransmission of the proposed advance on the same day Agent is notified or deemed notified by Borrower of Borrower's request for an advance pursuant to this Section 1.1(a), in which event each Lender shall remit, to the demand deposit account designated by Borrower, at or prior to 3:00 P.M. New York time, on the date of notification, if such notification is made before 1:00 P.M. New York time, or 10:00 A.M. New York time, on the Business Day immediately succeeding the date of such notification, if such notification is made after 1:00 P.M. New York time, immediately available funds in an amount equal to such Lender's Pro Rata Revolving Share (or, if applicable, such Lender's Adjusted Pro Rata Revolving Share) of the proposed advance. If and to the extent that a Defaulting Lender does not settle with Agent as required under this Agreement, Borrower and the principal balance Defaulting Lender severally agree to repay to Agent forthwith, on demand, such amount required to be paid by such Defaulting Lender to Agent, together with interest thereon, for each day from the date such amount is made available to Borrower until the date such amount is repaid to Agent, (x) in the case of each term loan owing a Defaulting Lender, at the rate published by a Company the Federal Reserve Bank of New York on the next succeeding Business Day as the "Federal Funds Rate" (or if no such rate is published for the applicable Business Day, at the average rate quoted for such day for such transactions from three (3) federal funds brokers of recognized standing selected by Agent) and (y) in the case of Borrower, at the interest rate applicable at such time for such Loans; provided, that Borrower's obligation to Lender)repay such advance to Agent shall not relieve such Defaulting Lender of its liability to Agent for failure to settle as provided in this Agreement.

REVOLVING LOANS AND CREDIT ACCOMMODATIONS. From time to time during the Term at Borrower's request, make revolving loans to Borrower ("Revolving Loans"), and make letters of credit, bankers acceptances and other credit accommodations ("Credit Accommodations") available to Borrower, in each case to the extent that there is sufficient Availability at the time of such request to cover, dollar for dollar, the requested Revolving Loan or Credit Accommodation; provided, that after giving effect to such Revolving Loan or Credit Accommodation, (x) the aggregate outstanding balance of all monetary Obligations of each Company to Lender (including the principal balance of any term loans owing by each Company to Lender Term Loan and, solely for the purpose of determining compliance with this provision, the Credit Accommodation Balance of each CompanyBalance) will not exceed the Maximum Facility Amount set forth in Section 1 1(a) of Schedule A and (y) none of the other Loan Limits set forth in Section 1 of Schedule A will be exceeded. For this purpose, "Availability" means: (i) the aggregate amount of Eligible Accounts of the Companies (less maximum existing or asserted taxes, discounts, credits and allowances) multiplied by the Accounts Advance Rate set forth in Section 1(b)(i) of Schedule A but not to exceed the Accounts Sublimit set forth in Section 1(c) of Schedule A; (ii) the lower of cost or market value of Eligible Inventory multiplied by the Inventory Advance Rate(s) set forth in Section 1(b)(ii) of Schedule A, but not to exceed the Inventory Sublimit(s) set forth in Section 1(d) of Schedule A; (iii) all Reserves which Lender has established pursuant to Section 1.2 (including those to be established in connection with the requested Revolving Loan or Credit Accommodation); and; (iv) the outstanding balance of all of the monetary Obligations of the Companies (excluding the Credit Accommodation Balance of each Company and the principal balance of each term loan owing by a Company to Lenderthe Term Loans).

REVOLVING LOANS AND CREDIT ACCOMMODATIONS. From time to time during the Term at any Borrower's requestrequest and, provided that no Event of Default exists, make revolving loans to Borrower Borrowers ("Revolving LoansREVOLVING LOANS"), and may (as provided in Section 1.3 hereof) make letters of credit, bankers acceptances and other credit accommodations ("Credit AccommodationsCREDIT ACCOMMODATIONS") available to BorrowerBorrowers, in each case case, to the extent that there is sufficient Availability at the time of such request to cover, dollar for dollar, the requested Revolving Loan or Credit Accommodation; providedPROVIDED, that after giving effect to such Revolving Loan or Credit Accommodation, (x) the aggregate outstanding balance of all monetary Obligations of each Company to Lender (including INCLUDING the principal balance of any term loans owing by each Company to Lender Term Loan and, solely for the purpose of determining compliance with this provision, the Credit Accommodation Balance of each CompanyBalance) will not exceed the Maximum Facility Amount set forth in Section 1 1(a) of Schedule A and (y) none of the other Loan Limits set forth in Section 1 of Schedule A will be exceeded. For this purpose, "AvailabilityAVAILABILITY" means: : (i) the aggregate amount of Eligible Accounts, Eligible Extended Accounts of the Companies (less maximum existing or asserted taxes, discounts, credits and allowances) Eligible Foreign Accounts multiplied by the applicable Accounts Advance Rate Rates set forth in Section 1(b)(i) of Schedule A but not to exceed the Accounts Sublimit set forth in Section 1(c) of Schedule A; (ii) the lower of cost or market value of Eligible Inventory multiplied by the Inventory Advance Rate(s) set forth in Section 1(b)(ii) of Schedule A, but not to exceed the Inventory Sublimit(s) Accounts Sublimits set forth in Section 1(d1(c) of Schedule A; (iii) all Reserves which Lender has established pursuant to Section 1.2 (including those to be established in connection with the requested Revolving Loan or Credit Accommodation); and (iv) the outstanding balance of all of the monetary Obligations of the Companies (excluding the Credit Accommodation Balance of each Company and the principal balance of each term loan owing by a Company to Lender).PLUS

REVOLVING LOANS AND CREDIT ACCOMMODATIONS. From time to time during the Term at each Borrower's request, make revolving loans to such Borrower ("Revolving Loans"), and make letters of credit, bankers acceptances and other credit accommodations ("Credit Accommodations") available to such Borrower, in each case to the extent that there is sufficient Availability for such Borrower at the time of such request to cover, dollar for dollar, the requested Revolving Loan or Credit AccommodationAccommodation of such Borrower; provided, that after giving effect to such Revolving Loan or Credit Accommodation, (x) the aggregate outstanding balance of all monetary Obligations of each Company to Lender (including excluding the principal balance of any term loans owing by each Company to Lender and, solely for the purpose of determining compliance with this provision, Term Loans and including the Credit Accommodation Balance of each CompanyBalance) will not exceed the Maximum Facility Amount set forth in Section 1 1(a) of Schedule A and (y) none of the other Loan Limits for Revolving Loans set forth in Section 1 of Schedule A will be exceeded. For this purpose, "Availability" means, with respect to each Borrower: (i) the aggregate amount of such Borrower's Eligible Accounts of the Companies (less maximum existing or asserted taxes, discounts, credits and allowances) multiplied by the Accounts Advance Rate set forth in Section 1(b)(i) of Schedule A (but not in no event to exceed the Accounts Sublimit set forth in Section 1(c) of Schedule A); (ii) the lower of cost or market value of such Borrower's Eligible Inventory multiplied by the applicable Inventory Advance Rate(s) set forth in Section 1(b)(ii) of Schedule A, but not to exceed the Inventory Sublimit(s) set forth in Section 1(d) of Schedule A; (iii) all Reserves with respect to such Borrower which Lender has established pursuant to Section 1.2 (including those to be established in connection with the requested Revolving Loan or Credit Accommodation); and; (iv) the outstanding balance of all of the monetary Obligations of the Companies with respect to such Borrower (excluding the Credit Accommodation Balance of each Company and the principal balance of each term loan owing by a Company the Term Loan with respect to Lendersuch Borrower).; and (v) the Overadvance Amount with respect to such Borrower, if any, set forth in Section 1(g) of Schedule A.

REVOLVING LOANS AND CREDIT ACCOMMODATIONS. From time to time during the Term at Borrower's request, make revolving loans to Borrower ("Revolving Loans"), and make letters of credit, bankers acceptances and other credit accommodations ("Credit Accommodations") available to Borrower, in each case to the extent that there is sufficient Availability for Borrower at the time of such request to cover, dollar for dollar, the requested Revolving Loan or Credit AccommodationAccommodation of Borrower; provided, that after giving effect to such Revolving Loan or Credit Accommodation, (x) the aggregate outstanding balance of all monetary Obligations of each Company to Lender (including excluding the principal balance of any term loans owing by each Company to Lender and, solely for the purpose of determining compliance with this provision, Term Loans and including the Credit Accommodation Balance of each CompanyBalance) will not exceed the Maximum Facility Amount set forth in Section 1 1(a) of Schedule A and (y) none of the other Loan Limits for Revolving Loans set forth in Section 1 of Schedule A will be exceeded. For this purpose, "Availability" means, with respect to Borrower: (i) the aggregate amount of Borrower's Eligible Accounts of the Companies (less maximum existing or asserted taxes, discounts, credits and allowances) multiplied by the Accounts Advance Rate set forth in Section 1(b)(i) of Schedule A but not to exceed the Accounts Sublimit set forth in Section 1(c) of Schedule A; (ii) the lower of cost or market value of Borrower's Eligible Inventory multiplied by the applicable Inventory Advance Rate(s) Rate set forth in Section 1(b)(ii) of Schedule A, but not to exceed the Inventory Sublimit(s) Sublimit set forth in Section 1(d1(c) of Schedule A; (iii) all Reserves with respect to Borrower which Lender has established pursuant to Section 1.2 (including those to be established in connection with the requested Revolving Loan or Credit Accommodation); and; (iv) the outstanding balance of all of the monetary Obligations of the Companies with respect to Borrower (excluding the Credit Accommodation Balance of each Company and the principal balance of each term loan owing by a Company to Lenderthe Term Loan but including the Credit Accommodation Balance).

REVOLVING LOANS AND CREDIT ACCOMMODATIONS. From time to time during the Term at Borrower's request, make revolving loans to Borrower ("Revolving Loans"), and make letters of credit, bankers acceptances and other credit accommodations ("Credit Accommodations") available to Borrower, in each case to the extent that there is sufficient Availability at the time of such request to cover, dollar for dollar, the requested Revolving Loan or Credit Accommodation; provided, that after giving effect to such Revolving Loan or Credit Accommodation, (x) the aggregate outstanding balance of all monetary Obligations of each Company to Lender (including the principal balance of any term loans owing by each Company to Lender and, solely for the purpose of determining compliance with this provision, the Credit Accommodation Balance of each Company) will not exceed the Maximum Facility Amount set forth in Section 1 of Schedule A and (y) none of the other Loan Limits set forth in Section 1 of Schedule A will be exceeded. For this purpose, "Availability" means: (i) the aggregate amount of Eligible Accounts of the Companies (less maximum existing or asserted taxes, discounts, credits and allowances) multiplied by the Accounts Advance Rate set forth in Section 1(b)(i) of Schedule A but not to exceed the Accounts Sublimit set forth in Section 1(c) of Schedule A;; plus (ii) the lower of cost or market value of Eligible Inventory multiplied by the Inventory Advance Rate(s) set forth in Section 1(b)(ii) of Schedule A, but not to exceed the Inventory Sublimit(s) set forth in Section 1(d) of Schedule A; (iii) all Reserves which Lender has established pursuant to Section 1.2 (including those to be established in connection with the requested Revolving Loan or Credit Accommodation); and (iv) the outstanding balance of all of the monetary Obligations of the Companies (excluding the Credit Accommodation Balance of each Company and the principal balance of each term loan owing by a Company to Lender).