Revolving Loans, Swing Line Loans and Letters of Credit. The applicable Borrower shall from time to time (i) prepay first, the Swing Line Loans, and second, the Revolving Loans and (ii) if all such Loans are prepaid without exhausting the excess referred to below, Cash Collateralize outstanding Letters of Credit, in each case, to the extent necessary so that (x) the Total Utilization of U.S. Revolving Commitments shall not at any time exceed the U.S. Revolving Commitments then in effect, (y) the Total Utilization of Canadian Revolving Commitments shall not at any time exceed the Canadian Revolving Commitments then in effect and (z) the Total Utilization of Foreign Revolving Commitments shall not at any time exceed the Foreign Revolving Commitments then in effect. Notwithstanding the foregoing, mandatory prepayments of Swing Line Loans and Revolving Loans and Cash Collateralization of Letters of Credit that would otherwise be required pursuant to this Section 2.14(e) solely as a result of fluctuations in Exchange Rates from time to time shall only be required to be made on the last Business Day of each month on the basis of the Exchange Rate in effect on such Business Day.
Revolving Loans, Swing Line Loans and Letters of Credit. No Borrowing of Revolving Loans or Swing Line Loans or issuance or extension of a Letter of Credit shall be made if, after giving effect thereto:
(a) the aggregate outstanding principal amount of all the Revolving Loans and Swing Line Loans, together with the aggregate principal amount of all Letter of Credit Outstandings, (i) of all the Revolving Lenders and the Swing Line Lender would exceed the Revolving Loan Commitment Amount or (ii) of any Revolving Lender would exceed such Revolving Lender’s Percentage of the Revolving Loan Commitment Amount;
(b) the aggregate outstanding principal amount of all Swing Line Loans would exceed the Swing Line Loan Commitment Amount; or
(c) the aggregate principal amount of all Letter of Credit Outstandings would exceed the Letter of Credit Commitment Amount.
Revolving Loans, Swing Line Loans and Letters of Credit. The applicable Borrower shall from time to time (i) prepay first, the Swing Line Loans, and second, the Revolving Loans and (ii) if all such Loans are prepaid without exhausting the excess referred to below, Cash Collateralize outstanding Letters of Credit, in each case, to the extent necessary so that (w) the Total Utilization of U.S. Revolving Commitments shall not at any time exceed the U.S. Revolving Commitments then in effect, (x) the Total Utilization of Canadian Revolving Commitments shall not at any time exceed the Canadian Revolving Commitments then in effect (y) the Total Utilization of European Revolving Commitments shall not at any time exceed the European Revolving Commitments then in effect and (z) the Total Utilization of Hong Kong Revolving Commitments shall not at any time exceed the Hong Kong Revolving Commitments then in effect. Notwithstanding the foregoing, mandatory prepayments of Swing Line Loans and Revolving Loans and Cash Collateralization of Letters of Credit that would otherwise be required pursuant to this Section 2.14(a) solely as a result of fluctuations in Exchange Rates from time to time shall only be required to be made on the last Business Day of each month on the basis of the Exchange Rate in effect on such Business Day.
Revolving Loans, Swing Line Loans and Letters of Credit. Consolidated Base Rate Senior Eurodollar Loans and Pricing Leverage Rate Loans and Swing Line Commitment Level Ratio Letters of Credit Loans Fees -------------------------------------------------------------------------------------------- I > 2.50 to 1.00 1.75% 0.50% 0.25% -------------------------------------------------------------------------------------------- II >2.00 to 1.00 1.50% 0.25% 0.20% but < 2.50 to 1.00 - -------------------------------------------------------------------------------------------- III >1.50 to 1.00 1.25% 0 0.20% but < 2.00 to 1.00 - -------------------------------------------------------------------------------------------- IV >1.00 to 1.00 1.00% 0 0.15% but < 1.50 to 1.00 - -------------------------------------------------------------------------------------------- V <1.00 to 1.00 0.75% 0 0.15% - ============================================================================================ Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Senior Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section 6.02(b), then, at the option of the Required Lenders, Pricing Level I will be applicable until the first Business Day immediately following the date an appropriate Compliance Certificate is delivered, whereupon the Applicable Rate shall be adjusted based on the information contained in the Compliance Certificate. The Applicable Rate in effect during the period from the Fourth Consent and Amendment Effective Date until the next quarterly Compliance Certificate is delivered shall be determined based upon Pricing Level II."
Revolving Loans, Swing Line Loans and Letters of Credit. (i) Subject to clause (ii) below, the Borrower shall from time to time (x) prepay first, the Swing Line Loans, and second, the Revolving Loans and/or (y) Cash Collateralize the Revolving Facility Letters of Credit to the extent necessary so that the Total Utilization of Revolving Commitments shall not at any time exceed the Revolving Commitments then in effect.
(ii) If the Administrative Agent notifies the Borrower at any time that the Total Utilization of Revolving Commitments exceeds 103% of the Revolving Commitments then in effect solely as a result of fluctuations in the Dollar Equivalent of Revolving Facility Letters of Credit denominated in Canadian Dollars as determined by the Administrative Agent on any Revaluation Date, the Borrower shall repay Loans and/or Cash Collateralize Revolving Facility Letters of Credit within five Business Days after the date of such notification to the extent necessary to cause the Total Utilization of Revolving Commitments to no longer exceed the Revolving Commitments then in effect (and the Borrower shall not be required to make such repayment or Cash Collateralization to the extent the Total Utilization of Revolving Commitments no longer exceeds the Revolving Commitments then in effect as a result of fluctuations in currency values). If the Borrower is required to provide Cash Collateral under this clause (e)(ii), such amount shall be returned to the Borrower within five Business Days after the date that the Total Utilization of Revolving Commitments no longer exceeds the Revolving Commitments then in effect as a result of fluctuations in currency values, except to the extent applied to reimburse the Issuing Bank for drawings for which it has not been reimbursed.
Revolving Loans, Swing Line Loans and Letters of Credit. The obligation of each Lender to make any Revolving Loan, the Swing Line Lender to make any Swing Line Loan or a Fronting Bank to issue any Letter of Credit, on any Credit Date, other than the Closing Date is subject to the satisfaction, or waiver in accordance with Section 10.5, of the following conditions precedent:
(a) Term Loan B shall have been made on the Closing Date;
(b) Administrative Agent shall have received a fully executed and delivered Funding Notice or Issuance Notice, as the case may be;
(c) After making the Credit Extensions requested on such Credit Date, the Total Utilization of Revolving Commitments shall not exceed the Revolving Commitments then in effect;
(d) As of such Credit Date, the representations and warranties contained herein and in the other Credit Documents shall be true and correct in all material respects on and as of that Credit Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date;
(e) As of such Credit Date, no Default or Event of Default shall have occurred and be continuing or would result from the consummation of the applicable Credit Extension; and
(f) On or before the date of issuance of any Letter of Credit, Administrative Agent shall have received all other information required by the applicable Issuance Notice, and such other documents or information as the applicable Fronting Bank may reasonably require in connection with the issuance of such Letter of Credit.
