Common use of Revolving Loans Clause in Contracts

Revolving Loans. Subject to and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Bank agrees at any time and from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”.

Appears in 1 contract

Samples: Master Loan and Security Agreement (Gse Systems Inc)

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Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $300,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii). Each Revolving 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on June 30, 1999 if the Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Express Scripts Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon --------------- the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto ------------ and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated up to $200,000,000; provided that the Revolving Loan Commitments of Lenders -------- shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the -------- ------- amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4A(iii), 2.4B(ii) and 2.4B(iii). 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 that date; provided that each Lender's Revolving Loan Commitment -------- shall expire immediately and without further action on October 15, 1997 if the Term Loans and the initial Revolving Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if Commitments at any time exceed the difference of (i) the Revolving Loan Commitments then in effect less (ii) an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant amount equal to the provisions aggregate ---- principal amount of this Agreement, this Revolving Credit Facility Indebtedness incurred by Company and the obligation its Subsidiaries under clause (x) of Section 4.12 of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action bySubordinated Note Indenture then outstanding, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”if any.

Appears in 1 contract

Samples: Credit Agreement (Price Communications Wireless Inc)

Revolving Loans. Subject Each Revolving Lender severally, and for itself alone, agrees, on the terms and subject to the conditions hereinafter set forth and upon the provisions of this Agreement and relying in reliance upon the representations and warranties set forth herein set forthand in the other Loan Documents, to continue to make loans to the Bank agrees at any time and Borrower on a revolving basis from time to time to make loans (each a “from and after the Restatement Date to, but not including, the Revolver Termination Date, in its Revolving Loan” or “Loan” and collectively Loan Pro Rata Share of such aggregate amount as the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs)Borrower may request, but not exceeding in an aggregate principal amount at any one time outstanding not (giving effect to exceed the contemporaneous application of any Revolving Loan proceeds to the payment of any L/C Obligations, Xxxxxxxx L/C Obligations or Swing Line Loans) the applicable Revolving Loan Commitment of such Revolving Lender at such time MINUS (i) such Revolving Lender's Revolving Loan Pro Rata Share of the L/C Obligations outstanding at such time, (ii) such Revolving Lender's Revolving Loan Pro Rata Share of Xxxxxxxx L/C Obligations outstanding at such time and (iii) such Revolving Lender's Revolving Loan Pro Rata Share of Swing Line Loans outstanding at such time. The Borrower and the Revolving Lenders acknowledge the making of the Revolving Loans which are outstanding on the Restatement Date in accordance with the terms of the Existing Credit Amount (as hereinafter defined). As used herein, the term “Agreement and agree that such Revolving Credit Expiration Date” means November 1, 2013, as such date may Loans shall continue to be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated outstanding pursuant to the provisions terms and conditions of this Agreement, this Revolving Credit Facility Agreement and the obligation other Loan Documents. Prior to the Revolver Termination Date, Revolving Loans may be repaid and reborrowed by the Borrower in accordance with the provisions hereof. Notwithstanding the foregoing, in the event that the Borrower repays Revolving Loans with proceeds from the Additional Term Loan and/or the issuance or incurrence of Indebtedness permitted by SECTION 5.2.2(W), the Borrower shall maintain a Total Available Revolving Commitment in an amount not less than (i) the aggregate amount of Revolving Loans repaid with proceeds from the Additional Term Loan and/or the issuance or incurrence of Indebtedness permitted by SECTION 5.2.2(W) MINUS (ii) the aggregate amount of Revolving Loans incurred by the Borrower after June 30, 1995, the proceeds of which are used by the Borrower to repurchase, prepay, redeem or otherwise extinguish any 8-7/8% Notes, any 12-1/8% Subordinated Debentures or any Indebtedness for Money Borrowed of the Bank Borrower constituting Senior Indebtedness, in each case as permitted by SECTION 5.2.10(A)(XIV), until the earlier to make Revolving Loans hereunder shall automatically terminate occur of (A) the repurchase, prepayment or conversion in full of all of the 8-7/8% Notes or (B) the repurchase, prepayment, redemption or other extinguishment of 12-1/8% Subordinated Debentures and/or Indebtedness for Money Borrowed of the Borrower constituting Senior Indebtedness in an aggregate amount equal to, if positive, (1) the aggregate amount of proceeds received by the Borrower from the Additional Term Loan and the issuance or incurrence of Indebtedness permitted by SECTION 5.2.2(W) MINUS (2) the aggregate cash consideration paid by or on behalf of the Revolving Credit Expiration Date without further action by, Borrower to repurchase or notice of any kind from, prepay the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”8-7/8% Notes as permitted by SECTION 5.2.10(A)(XIV).

Appears in 1 contract

Samples: Credit Agreement (Stone Container Corp)

Revolving Loans. Subject From and including the Closing Date and prior to and the Termination Date, upon the provisions satisfaction of the conditions precedent set forth in Sections 4.1 and 4.2, as applicable, each Lender severally and not jointly agrees, on the terms and conditions set forth in this Agreement and relying upon Agreement, to (i) make Revolving Loans to the representations and warranties herein set forth, the Bank agrees at any time and Borrower from time to time to make loans and (each a “Revolving Loan” or “Loan” and collectively ii) participate in Facility LCs issued upon the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier request of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs)Borrower, in each case in an aggregate principal amount at any time outstanding not to exceed in the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced aggregate at any one time outstanding of (a) with respect to Lenders with Revolving Loan Commitments, such Lenders' respective Revolving Loan Pro Rata Shares of the Available Aggregate Revolving Loan Commitment and from (b) with respect to Lenders with Pre-Funded Letter of Credit Commitments, such Lenders' respective Pre-Funded Letter of Credit Pro Rata Shares of the Aggregate Credit Linked Deposit not previously used to purchase participations in LC Obligations, or, subsequent to the occurrence of a Conversion Event, other portions of the Aggregate Outstanding Credit Exposure; provided that, unless caused by a Collateral Protection Advance, at no time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Aggregate Outstanding Credit Exposure hereunder exceed the Borrowing Base and at no time shall the Aggregate Outstanding Credit Exposure minus the Aggregate Pre-Funded Letter of Credit Commitment exceed the Aggregate Revolving Loan hereunder if an Event Commitment; provided, further, that during the continuance of Default (as hereinafter defined) a Conversion Event, all Lenders shall have occurred and be continuingparticipate in the Aggregate Outstanding Credit Exposure based on their respective Pro Rata Shares thereof. Unless sooner terminated pursuant Subject to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions terms of this Agreement, the Borrowers Borrower may borrow, repay and reborrow under this Revolving Credit FacilityLoans at any time prior to the Termination Date. The fact that there may be no Revolving Loans outstanding at any particular time commitment of each Lender to lend hereunder shall not affect automatically expire on the continuing validity of this AgreementTermination Date. For Each LC Issuer will issue Facility LCs hereunder on the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”terms and conditions set forth in Section 2.19.

Appears in 1 contract

Samples: Credit Agreement (Tesoro Petroleum Corp /New/)

Revolving Loans. Subject to the terms and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Bank agrees at any time and from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes conditions of this Agreement, each reference Lender severally agrees, subject to a “Loan” or a “the limitations set forth below with respect to the maximum amount of Revolving Loan” Loans permitted to be outstanding from time to time, to lend to the Company from time to time during the period from the time of Closing on the Closing Date to but excluding the Revolving Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Loan Commitments to be used for the purposes identified in subsection 7.12. The original amount of each Lender's Revolving Loan Commitment (a) for the period commencing on the Closing Date and ending on the date immediately preceding the Effective Date is set forth opposite its name on Schedule 2.01(a) annexed hereto and the aggregate original amount of the Revolving Loan Commitments is $53,000,000, and (b) for the Effective Date and thereafter is set forth opposite its name on Schedule 2.01(b) annexed hereto and the aggregate amount of the Revolving Loan Commitments on and after the Effective Date is $63,000,000; provided, in each case, that the Revolving Loan Commitments of the Lenders shall be deemed adjusted to also refer give effect to a “Letter any assignments of Credit”the Revolving Loan Commitments pursuant to subsection 11.08; and provided, further that the amount of the Revolving Loan Commitments shall be reduced from time to time by the amount of any reductions thereto made pursuant to Section 2.05. Each Lender's Revolving Loan Commitment shall expire on the Revolving 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 that date; provided that, after giving effect to any Borrowing of Revolving Loans, the Effective Amount of all outstanding Revolving Loans and Swing Line Loans and the Effective Amount of all L/C Obligations, shall not at any time exceed the combined Revolving Loan Commitments; and provided further, that the Effective Amount of the Revolving Loans of any Lender plus the participation of such Lender in the Effective Amount of all L/C Obligations and Swing Line Loans shall not at any time exceed such Lender's Revolving Loan Commitment. Amounts borrowed under this subsection 2.01(c) may be repaid and reborrowed to but excluding the Revolving Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Vans Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount which shall not exceed its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments, to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $58,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal subsection 10.1B; provided further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4A or 2.4B. 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 that date; provided that each Lender's Revolving Loan Commitment shall expire immediately and without further action on February 15, 1997 if the Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed to time pursuant but excluding the Revolving Loan Commitment Termination Date. Notwithstanding anything contained herein to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In the contrary, in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Security Agreement (Outsourcing Solutions Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions --------------- limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original ------------ amount of the Revolving Credit Facility”) Loan Commitments is terminated $275,000,000; provided that, -------- the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further, that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan -------- ------- Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4A(ii). 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 the Revolving Loan Commitment Termination Date. Amounts borrowed under this subsection 2.1A(i) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In the contrary notwithstanding in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event Commitments at any time exceed the lesser of Default (as hereinafter definedy) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, Loan Commitments then in effect and (z) the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Adjusted Borrowing Base Amount then in effect.

Appears in 1 contract

Samples: Revolving Credit Agreement (Anthony Crane Holdings Capital Corp)

Revolving Loans. Subject On the terms and subject to the conditions hereafter set forth and upon the provisions of this Agreement and relying in reliance upon the representations and warranties set forth herein set forthand in the other Loan Documents, each Lender agrees severally and not jointly to make Revolving Loans to the Bank agrees Borrower, at any time and from time to time to make loans (each a “Revolving Loan” on or “Loan” after the Closing Date and collectively the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until prior the earlier of the Revolving Credit Expiration Maturity Date (as hereinafter defined) or and the date on which this revolving credit facility (termination of the Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs)Commitment of such Lender in accordance with the terms hereof, in an aggregate principal amount at any time outstanding not to exceed (after giving effect to all Revolving Loans repaid, and all reimbursements of LC Disbursements made, concurrently with the making of any Revolving Loans) an amount equal to the difference between (i) the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013Commitment set forth opposite such Lender's name on Schedule 2.01, as such date the same may be changed or extended reduced from time to time pursuant to Section 8.2 hereof2.09, and (ii) such Lender's Applicable Percentage of the term “Revolving Credit Amount” means sum of (A) the aggregate principal amount of $7,500,000 as Swingline Loans outstanding at such amount may be reduced at any time and from time (B) the LC Exposure (other than LC Exposure attributable to time Xxxxxxxxx Letters of Credit issued pursuant to this Agreement Section 3.11) at such time. Within the limits set forth in the preceding sentence, the Borrower may borrow, pay or as such amount may be increased or decreased at any time prepay and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make reborrow Revolving Loans hereunder shall automatically terminate on or after the Closing Date and prior to the Revolving Credit Expiration Date without further action byMaturity Date, or notice of any kind from, on the Bank. Within the limitations set forth herein terms and subject to the provisions conditions and limitations set forth herein. The Borrower and the Lenders acknowledge the making of Revolving Loans prior to the Third Restatement Date in accordance with the terms of the Existing Credit Agreement and agree that such outstanding Revolving Loans shall continue to be outstanding pursuant to the terms and conditions of this Agreement, Agreement and the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Smurfit Stone Container Corp)

Revolving Loans. Subject On the terms and subject to the conditions hereafter set forth and upon the provisions of this Agreement and relying in reliance upon the representations and warranties set forth herein set forthand in the other Loan Documents, each Lender agrees severally and not jointly to make Revolving Loans to the Bank agrees Borrower, at any time and from time to time to make loans (each a “Revolving Loan” on or “Loan” after the Closing Date and collectively the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until prior the earlier of the Revolving Credit Expiration Maturity Date (as hereinafter defined) or and the date on which this revolving credit facility (termination of the Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs)Commitment of such Lender in accordance with the terms hereof, in an aggregate principal amount at any time outstanding not to exceed (after giving effect to all Revolving Loans repaid, and all reimbursements of LC Disbursements made, concurrently with the making of any Revolving Loans) an amount equal to the difference between (i) the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013Commitment set forth opposite such Lender's name on Schedule 2.01, as such date the same may be changed or extended reduced from time to time pursuant to Section 8.2 hereof2.09, and (ii) such Lender's Applicable Percentage of the term “Revolving Credit Amount” means sum of (A) the aggregate principal amount of $7,500,000 as Swingline Loans outstanding at such amount may be reduced at any time and from time to time pursuant to this Agreement (B) the LC Exposure at such time. Within the limits set forth in the preceding sentence, the Borrower may borrow, pay or as such amount may be increased or decreased at any time prepay and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make reborrow Revolving Loans hereunder shall automatically terminate on or after the Closing Date and prior to the Revolving Credit Expiration Date without further action byMaturity Date, or notice of any kind from, on the Bank. Within the limitations set forth herein terms and subject to the provisions conditions and limitations set forth herein. The Borrower and the Lenders acknowledge the making of Revolving Loans prior to the Second Restatement Date in accordance with the terms of the Existing Credit Agreement and agree that such outstanding Revolving Loans shall continue to be outstanding pursuant to the terms and conditions of this Agreement, Agreement and the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”other Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Smurfit Stone Container Corp)

Revolving Loans. Subject On the terms and subject to the conditions set forth in this Agreement, and upon the provisions provided there does not then exist a Default or an Event of this Agreement and relying upon the representations and warranties herein set forthDefault, the Bank Lender agrees at any time to make revolving loans (such loans are collectively called “Revolving Loans” and individually called a “Revolving Loan”) to the Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” on and collectively after the “Revolving Loans” or “Loans”) Closing Date and prior to the Borrowers from Credit Termination Date, so long as the date aggregate amount of such advances outstanding at any time to the Borrower do not exceed the lesser of: (i) the Maximum Revolving Facility at such time minus any reserves established by the Lender pursuant to Section 2.1(b) hereof until and (ii) the earlier Borrowing Base at such time minus any reserves established by the Lender pursuant to Section 2.1(b) hereof, in each case, if at any time applicable, minus all Letter of Credit Obligations. The Borrower shall have the right to repay and reborrow any of the Revolving Credit Expiration Date Loans without premium or penalty (subject to Section 3.4 hereof); provided, however, that it shall be a condition precedent to any reborrowing that as hereinafter defined) or of the date on which this revolving credit facility of any reborrowing (the any such date herein called a Revolving Credit FacilityReborrowing Date”) is terminated pursuant all of the conditions to borrowing set forth in Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount 5.1 of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or shall be satisfied and all representations and warranties made herein shall be true and correct in all material respects as of such amount may be increased or decreased at any time and from time to time pursuant to this AgreementReborrowing Date. In no event shall the Bank be obligated to make a Revolving Loan The Lender’s commitment hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on is hereinafter called the Revolving Credit Expiration Date without further action by, or notice Loan Commitment.” The payment obligations of any kind from, the Bank. Within the limitations set forth herein and subject Borrower to the provisions of this Agreement, the Borrowers may borrow, repay Lender hereunder are and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”joint and several as provided in Section 12.21 hereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Advocat Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $20,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4B(ii). 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 that date. Amounts borrowed under this subsection 2.1A(iv) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event Commit ments at any time exceed the lesser of Default (as hereinafter defined1) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, Loan Commitments then in effect and (2) the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Borrowing Base then in effect.

Appears in 1 contract

Samples: Credit Agreement (CFP Holdings Inc)

Revolving Loans. Subject Each Revolving Lender severally, and for itself alone, agrees, on the terms and subject to the conditions hereinafter set forth and upon the provisions of this Agreement and relying in reliance upon the representations and warranties set forth herein set forthand in the other Loan Documents, to continue to make loans to the Bank agrees at any time and Borrower on a revolving basis from time to time to make loans (each a “from and after the Restatement Date to, but not including, the Revolver Termination Date, in its Revolving Loan” or “Loan” and collectively Loan Pro Rata Share of such aggregate amount as the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs)Borrower may request, but not exceeding in an aggregate principal amount at any one time outstanding not (giving effect to exceed the contemporaneous application of any Revolving Loan proceeds to the payment of any L/C Obligations or Swing Line Loans) the applicable Revolving Loan Commitment of such Revolving Lender at such time minus (i) such Revolving Lender's Revolving Loan Pro Rata Share of the L/C Obligations outstanding at such time and (ii) such Revolving Lender's Revolving Loan Pro Rata Share of Swing Line Loans outstanding at such time. The Borrower and the Revolving Lenders acknowledge the making of the Revolving Loans which are outstanding on the Restatement Date in accordance with the terms of the Existing Credit Amount (as hereinafter defined). As used herein, the term “Agreement and agree that such Revolving Credit Expiration Date” means November 1, 2013, as such date may Loans shall continue to be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated outstanding pursuant to the provisions terms and conditions of this Agreement, this Revolving Credit Facility Agreement and the obligation other Loan Documents. Prior to the Revolver Termination Date, Revolving Loans may be repaid and reborrowed by the Borrower in accordance with the provisions hereof. Notwithstanding the foregoing, in the event that the Borrower repays Revolving Loans with proceeds from the Additional Term Loan and/or the issuance or incurrence of Indebtedness permitted by Section 5.2.2(w), the Borrower shall maintain a Total Available Revolving Commitment in an amount not less than (i) the aggregate amount of Revolving Loans repaid with proceeds from the Additional Term Loan and/or the issuance or incurrence of Indebtedness permitted by Section 5.2.2(w) minus (ii) the aggregate amount of Revolving Loans incurred by the Borrower after June 30, 1995, the proceeds of which are used by the Borrower to repurchase, prepay, redeem or otherwise extinguish any 8-7/8% Notes, any 12-1/8% Subordinated Debentures or any Indebtedness for Money Borrowed of the Bank Borrower constituting Senior Indebtedness, in each case as permitted by Section 5.2.10(a)(xiv), until the earlier to make Revolving Loans hereunder shall automatically terminate occur of (A) the repurchase, prepayment or conversion in full of all of the 8-7/8% Notes or (B) the repurchase, prepayment, redemption or other extinguishment of 12-1/8% Subordinated Debentures and/or Indebtedness for Money Borrowed of the Borrower constituting Senior Indebtedness in an aggregate amount equal to, if positive, (1) the aggregate amount of proceeds received by the Borrower from the Additional Term Loan and the issuance or incurrence of Indebtedness permitted by Section 5.2.2(w) minus (2) the aggregate cash consideration paid by or on behalf of the Revolving Credit Expiration Date without further action by, Borrower to repurchase or notice of any kind from, prepay the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”8-7/8% Notes as permitted by Section 5.2.10(a)(xiv).

Appears in 1 contract

Samples: Credit Agreement (Stone Container Corp)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Effective Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5E. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $20,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time by the 71 amount of any reductions thereto made pursuant to Section 8.2 hereof, subsections 2.4B(ii) and the term “2.4B(iii). Each Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Lender's Revolving Loan hereunder if an Event of Default (as hereinafter defined) Commitment shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate expire on the Revolving Credit Expiration 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action byon December 10, 1999 if the Term Loans are not made on or notice of any kind frombefore that date. Amounts borrowed under this subsection 2.1A(vi) may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement to the contrary notwithstanding, the Bank. Within Revolving Loans and the limitations set forth herein and Revolving Loan Commitments shall be subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”.following limitations:

Appears in 1 contract

Samples: Credit Agreement (Protocol Communications Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) Loan Commitments to be used for the purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment will be set forth in an allocation letter delivered to such Lender by Administrative Agent at or before the date on which this revolving credit facility (Closing Date, and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $50,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In the contrary notwithstanding, in no event shall the Bank be obligated to make a Total Utilization of the Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Oxford Health Plans Inc)

Revolving Loans. Subject The Borrower may borrow under the Revolving Commitments during the Revolving Commitment Period on any Business Day; provided that the Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing (which must be received by the Administrative Agent prior to 10:00 A.M. (a) three U.S. Government Securities Business Days prior to the requested Borrowing Date, in the case of SOFR Loans, or (b) two (2) Business Days prior to the requested Borrowing Date, in the case of ABR Loans) (provided that any such Notice of Borrowing of ABR Loans under the Revolving Facility to finance payments under Section 3.5(a) may be given not later than 10:00 A.M. on the date of the proposed borrowing), in each such case specifying (i) the amount and upon Type of Revolving Loans to be borrowed, (ii) the provisions requested Borrowing Date (which shall be a Business Day), (iii) the respective amounts of this Agreement and relying upon each such Type of Loan, (iv) in the representations and warranties herein set forthcase of SOFR Loans, the Bank agrees at any time respective lengths of the initial Interest Period therefor, and from time (v) the wire instructions of the account of the Borrower to time to make loans (each a “Revolving Loan” or “Loan” and collectively which the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier proceeds of the Revolving Credit Expiration Date (as hereinafter defined) or Loans to be borrowed are to be disbursed. If no Interest Period is specified in the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used hereinNotice of Borrowing requesting a SOFR Loan, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” Borrower shall be deemed to also refer have selected an Interest Period of one (1) month’s duration. Each borrowing under the Revolving Commitments shall be in an amount equal to in the case of ABR Loans or SOFR Loans, $1,000,000 or a “Letter whole multiple of Credit”$100,000 in excess thereof (or, if the then Available Revolving Commitment is less than $1,000,000, such lesser amount); provided that the Swingline Lender may request, on behalf of the Borrower, borrowings under the Revolving Commitments that are ABR Loans in other amounts pursuant to Section 2.4. Upon receipt of any such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of each such borrowing available to the Administrative Agent for the account of the Borrower at the Revolving Loan Funding Account prior to 10:00 A.M. on the Borrowing Date requested by the Borrower in funds immediately available to the Administrative Agent. Upon satisfaction of the applicable conditions set forth in Section 5.2 (and, if such Borrowing is an initial Credit Extension on the Closing Date, Section 5.1), the Administrative Agent shall make all requested funds so received available to the Borrower in like funds as received by the Administrative Agent by wire transfer of such funds, to the account of the Borrower specified in the applicable Loan Notice.

Appears in 1 contract

Samples: Credit Agreement

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (SCHEDULE 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $15,000,000; PROVIDED that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and PROVIDED, in an aggregate principal FURTHER that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4A(iii), 2.4B(ii) and 2.4B(iii). 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 that date; PROVIDED that each Lender's Revolving Loan Commitment shall expire immediately and without further action on January 31, 2000 if the Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event Commitments at any time exceed the lesser of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this aggregate Revolving Credit Facility Loan Commitments then in effect and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Borrowing Base.

Appears in 1 contract

Samples: Company Credit Agreement (Wj Communications Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, on the terms and conditions set forth in this Agreement, to and upon make Revolving Loans to the provisions of Borrower pursuant to this Agreement and relying upon the representations and warranties herein set forth, the Bank agrees at any time and Section 2.01(a) from time to time during the Availability Period for Revolving Loans in amounts such that its Revolving Outstandings shall not exceed (after giving effect to make loans (all Revolving Loans repaid, all reimbursements of L/C Disbursements made, and all Refunded Swing Line Loans paid concurrently with the making of any Revolving Loans) its Revolving Commitment; provided that, immediately after giving effect to each a “such Revolving Loan” or “Loan” , (i) the aggregate Revolving Outstandings shall not exceed the Revolving Committed Amount and collectively (ii) with respect to each Revolving Lender individually, such Lender’s outstanding Revolving Loans plus its (other than the Swing Line Lender’s in its capacity as such) Participation Interests in outstanding Swing Line Loans plus its Participation Interests in outstanding L/C Obligations shall not exceed such Lender’s Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier Commitment Percentage of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Committed Amount. Each Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), Borrowing comprised of Eurodollar Loans shall be in an aggregate principal amount at of $1,000,000 or any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereoflarger multiple of $500,000, and the term “each Revolving Credit Amount” means the Borrowing comprised of Base Rate Loans shall be in an aggregate principal amount of $7,500,000 as 500,000 or any larger multiple of $100,000 (except that any such amount Borrowing may be reduced at in the aggregate amount of the unused Revolving Commitments and any time and from time to time pursuant to this Agreement or as such amount L/C Borrowing may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall in the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice aggregate amount of any kind from, outstanding Unreimbursed Amounts owed to one or more L/C Issuers as provided in Section 2.05(e)(iv)) and shall be made from the Bankseveral Revolving Lenders ratably in proportion to their respective Revolving Commitments. Within the limitations set forth herein and subject foregoing limits, the Borrower may borrow under this Section 2.01(a), repay, or, to the provisions of this Agreementextent permitted by Section 2.09, the Borrowers may borrowprepay, repay Revolving Loans and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Section 2.01(a).

Appears in 1 contract

Samples: Credit Agreement (VeriFone Holdings, Inc.)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrowers from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolv ing Loan Commitments is $20,000,000; provided that the Revolving Credit Facility”) is terminated Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii); provided still further that, in the event Borrowers request that a Lender or Lenders (or other Eligible Assignee reasonably acceptable to Administrative Agent, who desires to become a Lender) increase their Revolving Loan Commitments, such Lender or Lenders may, in their sole and absolute discretion, increase the Revolving Loan Commitments as requested by Borrowers (the "Increased Commitments") by giving written notice to Borrowers and Administrative Agent, so long as the aggregate amount of all such amount may be reduced at any time and from time to time increases in the Revolving Loan Commitments pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreementproviso does not exceed $20,000,000. In no event shall the Bank be obligated to make a Each Lender's Revolving Loan hereunder if an Event of Default (as hereinafter defined) Commitment shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate expire on the Revolving Credit Expiration Loan Commitment Termination Date without further action by, or notice of any kind fromand 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 that date. Amounts borrowed under this subsection 2.1A(ii) may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement to the contrary notwithstanding, the Bank. Within Revolving Loans and the limitations set forth herein and Revolving Loan Commitments shall be subject to the provisions of this Agreement, following limitations in the Borrowers may borrow, repay amounts and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect during the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”.periods indicated:

Appears in 1 contract

Samples: Credit Agreement (Grand Canal Shops Mall Construction LLC)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date on which this revolving credit facility (purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment will be set forth in an allocation letter delivered to such Lender by Administrative Agent and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $50,000,000; PROVIDED that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date; PROVIDED that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on April 15, 2004 if the Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (FTD Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions --------------- limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time during the period from the Closing Date to make loans (each a “but excluding the Revolving Loan” or “Loan” and collectively the “Loan Commitment Termination Date Revolving Loans” or “Loans”) , to be used for the Borrowers from purposes identified in subsection 2.5C, provided that after giving effect to such Loans its Revolving Loan Exposure shall not exceed its Pro Rata Share of the date hereof until the earlier aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name in Schedule 2.1 annexed hereto and the date on which this revolving credit facility (aggregate original ------------ amount of the Revolving Credit Facility”) Loan Commitments is terminated $50,000,000 less the aggregate amount of the Local Lines of Credit; provided that the Revolving Loan -------- Commitments of the Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal subsection 10.1B; provided further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended -------- ------- reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4C. 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 that date. Amounts borrowed under this subsection 2.1A(iv) may be reduced at any time repaid and from time reborrowed, subject to time pursuant the limitations and conditions set forth herein, to this Agreement or as such amount may be increased or decreased at any time and from time but excluding the Revolving Loan Commitment Termination Date. Notwithstanding anything contained herein to time pursuant to this Agreement. In the contrary, (i) in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default Commitments at any time exceed the Revolving Loan Commitments then in effect and (as hereinafter definedii) shall have occurred and be continuing. Unless sooner terminated pursuant prior to the provisions Chinese Security Effective Date, in no event shall the Total Utilization of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding Loan Commitments at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”exceed $15,000,000.

Appears in 1 contract

Samples: Chinese Security Agreement (Chippac LTD)

Revolving Loans. Subject Each Revolving Loan Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (SCHEDULE 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $25,000,000; provided that the Revolving Loan Commitments of Revolving Loan Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Revolving Loan 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 that date; provided that each Revolving Loan Lender's Revolving Loan Commitment shall expire immediately and without further action on December 31, 1998 if the initial Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Penton Media Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date Loan Commitments to be used for the purposes identified in subsection 2.5B. The aggregate original amount of the Revolving Loan Commitments is $475,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to (as hereinafter defined1) or the date on which this revolving credit facility (the “any increase in Revolving Credit Facility”) is terminated Loan Commitments pursuant to Section 7.1 hereof (whichever first occurssubsection 2.1A(iv), in an aggregate principal amount at and (2) any time outstanding not to exceed assignments of the Revolving Credit Amount (as hereinafter defined). As used herein, Loan Commitments pursuant to subsection 10.1B; and provided further that the term “amount of the Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Revolving 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 that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Isle of Capri Casinos Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date on which this revolving credit facility (purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment will be set forth in an allocation letter delivered to such Lender by CSFB and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $20,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may be reduced at any time and from time to time reductions thereto made pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreementsubsection 2.4. In no event shall the Bank be obligated to make a Each Revolving Lender's Revolving Loan hereunder if an Event of Default (as hereinafter defined) Commitment shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate expire on the Revolving Credit Expiration 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action byon September 30, 2001 if the Term Loans are not made on or notice of any kind from, the Bankbefore that date. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow Amounts borrowed under this Revolving Credit Facility. The fact that there subsection 2.1A(ii) may be no repaid and reborrowed to but excluding the Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Termination Date.

Appears in 1 contract

Samples: Security Agreement (Ackerley Group Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date Loan Commitments to be used for the purposes identified in subsection 2.5B. As of the Restatement Effective Date, the aggregate amount of the Revolving Loan Commitments is $300,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to (as hereinafter defined1) or the date on which this revolving credit facility (the “any increase in Revolving Credit Facility”) is terminated Loan Commitments pursuant to Section 7.1 hereof (whichever first occurssubsection 2.1A(iv), and (2) any assignments of the Revolving Loan Commitments pursuant to subsection 10.1B (in an aggregate principal amount at no event shall any time outstanding not such adjustment cause a Lender’s Revolving Loan Exposure to exceed its Revolving Loan Commitment); and provided further that the amount of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Revolving 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 that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Isle of Capri Casinos Inc)

Revolving Loans. Subject to and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Bank Each Revolving Lender severally agrees at any time and from time to time to make revolving loans (each a “Revolving Loan” or “Loan” and collectively the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof Closing Date until the earlier Revolving Loan Commitment Termination Date in an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Loan Commitments, provided that, after the Eighteenth Amendment Date Revolving Loans will be available only for the purpose of funding the reimbursement of the Issuing Bank for drawings on Letters of Credit Expiration issued hereunder. The amount of each Revolving Lender’s Revolving Loan Commitment as of the Eighteenth Amendment Date (is set forth opposite its name on Schedule 2.1.A annexed hereto and the aggregate amount of the Revolving Loan Commitments as hereinafter defined) or of the date on which this revolving credit facility (Eighteenth Amendment Date is $5,595,204.73; provided that the Revolving Credit Facility”) is terminated Loan Commitments of the applicable Revolving Lenders shall be adjusted to give effect to any assignments of such Revolving Lender’s respective Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal 9.1.; and provided further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time by the amount of any reductions thereto made pursuant to Section 8.2 hereof, and the term “2.5. Each Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Lender’s Revolving Loan hereunder if an Event of Default (as hereinafter defined) Commitments shall have occurred expire immediately and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate without further action on the Revolving Credit Expiration Loan Commitment Termination Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans shall be made after such date. Amounts borrowed under this Section 2.1.A.(ii) and subsequently repaid or prepaid may be reborrowed; provided, however, that the aggregate principal amount of the Revolving Loans (including LOC Revolving Loans) outstanding at any particular time shall not affect time, when taken together with the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “outstanding Letter of Credit”Credit Obligations, may not exceed the aggregate amount of the Revolving Loan Commitments.

Appears in 1 contract

Samples: Fibernet Telecom Group Inc\

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter definedLoan Commitments to be used for the purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on Schedule 2.1(c) or annexed hereto and the date on which this revolving credit facility (aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $400,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further, that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii). Each Revolving 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on February 13, 2004 if the Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Express Scripts Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon Revolving Loans permitted to be outstanding from time to time, to lend to the representations and warranties herein set forth, the Bank agrees at any time and Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Maturity Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5A(i). The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $200,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4A(ii) and 2.4A(iii). Each Lender's Revolving Loan Commitment shall expire on the Maturity 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 that date; provided that each Lender's Revolving Loan Commitment shall expire immediately and without further action on May 31, 1997 if the initial extension of credit hereunder is not made on or before that date. Amounts borrowed under this subsection 2.1A(i) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Maturity Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization at any time exceed the Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Wolverine Tube Inc)

Revolving Loans. Subject to the terms and upon conditions set forth herein, each Revolving Lender severally agrees to make Revolving Loans to the provisions of Borrower in Dollars pursuant to this Agreement and relying upon the representations and warranties herein set forth, the Bank agrees at any time and Section 2.01(a) from time to time during the Revolving Availability Period in amounts such that its Revolving Outstandings shall not exceed (after giving effect to make loans (all Revolving Loans repaid, all reimbursements of L/C Disbursements made, and all Refunded Swing Line Loans paid concurrently with the making of any Revolving Loans) its Revolving Commitment; provided that, immediately after giving effect to each a “such Revolving Loan” or “Loan” , (i) the aggregate Revolving Outstandings shall not exceed the Revolving Committed Amount and collectively (ii) with respect to each Revolving Lender individually, such Lender’s outstanding Revolving Loans plus its (other than the Swing Line Lender’s in its capacity as such) Participation Interests in outstanding Swing Line Loans plus its Participation Interests in outstanding L/C Obligations shall not exceed such Lender’s Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier Commitment Percentage of the Revolving Credit Expiration Committed Amount; provided, further, that (x) no more than $20,000,000 of Revolving Loans may be drawn on the Closing Date and (as hereinafter definedy) or no Revolving Borrowing shall be made (other than for Operating Expenses) prior to January 4, 2012 if, after giving effect to such Revolving Borrowing and the date on which this revolving credit facility (application of the proceeds therefrom, the Minimum Liquidity Condition would not be met. Each Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), Borrowing comprised of Eurodollar Loans shall be in an aggregate principal amount at of $1,000,000 or any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereoflarger multiple of $100,000, and the term “each Revolving Credit Amount” means the Borrowing comprised of Base Rate Loans shall be in an aggregate principal amount of $7,500,000 as 1,000,000 or any larger multiple of $100,000 (except that any such amount Borrowing may be reduced at in the aggregate amount of the unused Revolving Commitments and any time and from time to time pursuant to this Agreement or as such amount L/C Borrowing may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall in the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice aggregate amount of any kind from, outstanding Unreimbursed Amounts owed to one or more L/C Issuers as provided in Section 2.05(e)(iv)) and shall be made from the Bankseveral Revolving Lenders ratably in proportion to their respective Revolving Commitments. Within the limitations set forth herein and subject foregoing limits, the Borrower may borrow under this Section 2.01(a), repay, or, to the provisions of this Agreementextent permitted by Section 2.09, the Borrowers may borrowprepay, repay Revolving Loans and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Section 2.01(a).

Appears in 1 contract

Samples: Credit Agreement (Medassets Inc)

Revolving Loans. Subject Each Lender with a Revolving Loan Commitment severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time during the period on and after the Closing Date to make loans (each a “but excluding the Revolving Loan” or “Loan” and collectively Loan Maturity Date an aggregate amount not exceeding its Pro Rata Share of the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in Section 2.5B. The original amount of each Lender’s Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $50,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time by the amount of any reductions thereto made pursuant to Section 8.2 hereof, 2.4B(ii) and Section 2.4B(iv)(e). Each Lender’s Revolving Loan Commitment shall expire on the Revolving Loan Maturity Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount Loan Commitments shall be paid in full no later than that date. Amounts borrowed under this Section 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Maturity Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Alliance HealthCare Services, Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (SCHEDULE 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $80,000,000; PROVIDED that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and PROVIDED, in an aggregate principal FURTHER that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Revolving 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 that date; PROVIDED that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on April 1, 1998 if the Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Express Scripts Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrowers from time to time during the period from November 14, 1997 to make loans (each a “but excluding the Revolving Loan” or “Loan” and collectively Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier aggregate amount of the Revolving Credit Expiration Loan Commitments to be used for the purposes identified in subsection 2.5B. The amount of each Lender's Revolving Loan Commitment as of the Closing Date (is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate amount of the Revolving Loan Commitments as hereinafter defined) or of the date on which this revolving credit facility (Closing Date is $40,000,000; provided that the Revolving Credit Facility”) is terminated Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). 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 that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to this but excluding the Revolving Loan Commitment Termination Date. For the avoidance of doubt, all Revolving Loans made and Letters of Credit issued under the Existing Credit Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to shall continue under this Agreement. In Anything contained in this Agreement to the contrary notwithstanding, in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Las Vegas Sands Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $50,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on October 30, 2002 if the Term B Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Brand Services)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at to lend to any time and Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (Loan Commitments; provided, however, that the Dollar Equivalent of the Alternative Currency Loans in any Alternative Currency made by all Revolving Lenders shall not exceed the sublimit for such Alternative Currency set forth on SCHEDULE 2.1A(i); provided, further, that the Foreign Borrower Exposure shall not exceed the sublimits for each such Foreign Borrower as hereinafter defined) or set forth on SCHEDULE 2.1A(iv). Revolving Loans are to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (SCHEDULE 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $200,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 11.1B; and provided, in an aggregate principal further, that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may be reduced at any time and from time to time reductions thereto made pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreementsubsections 2.4B(ii). In no event shall the Bank be obligated to make a Each Revolving Lender's Revolving Loan hereunder if an Event of Default (as hereinafter defined) Commitment shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate expire on the Revolving Credit Expiration Loan Commitment Termination Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject all Revolving Loans and all other amounts owed hereunder with respect to the provisions of this Agreement, Revolving Loans and the Borrowers may borrow, repay and reborrow Revolving Loan Commitments shall be paid in full no later than that date. Amounts borrowed under this Revolving Credit Facility. The fact that there subsection 2.1A(iv) may be no repaid and reborrowed to but excluding the Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Termination Date.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Lincoln Electric Holdings Inc)

Revolving Loans. Subject to and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Bank Each Revolving Lender severally agrees at any time and from time to time to make revolving loans (each a “Revolving Loan” or “Loan” and collectively the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof Closing Date until the earlier Revolving Loan Commitment Termination Date in an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (Loan Commitments. Each Borrower shall use the proceeds of any such Revolving Loans solely for the purposes identified in Section 5.12. The amount of each Revolving Lender’s Commitment as hereinafter defined) or of the date of the Ninth Amendment is set forth opposite its name on which this revolving credit facility (Schedule 2.1.A annexed hereto and the aggregate amount of the Revolving Credit Facility”) Loan Commitments is terminated $11,224,043,14; provided that the Revolving Loan Commitments of the applicable Revolving Lenders shall be adjusted to give effect to any assignments of such Revolving Lender’s respective Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal 9.1.; and provided further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time by the amount of any reductions thereto made pursuant to Section 8.2 hereof2.5. Notwithstanding anything to the contrary herein, and the term “Revolving Credit Amount” means the outstanding principal amount of $7,500,000 as such amount may be reduced Revolving Loans made pursuant to this Section 2.1.A(ii) shall not at any time exceed $5,142,298.87. Each Revolving Lender’s Revolving Loan Commitments shall expire immediately and from time to time without further action on the Revolving Loan Commitment Termination Date and no Revolving Loans shall be made after such date. Amounts borrowed under this Section 2.1.A.(ii) and subsequently repaid or prepaid may be reborrowed; provided, however, that (i) the aggregate principal amount of Revolving Loans outstanding that were made pursuant to this Agreement or as such amount may be increased or decreased Section 2.1.A(ii) shall not at any time exceed $5,142,298.87 and from time to time pursuant to this Agreement. In no event shall (ii) the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation aggregate principal amount of the Bank to make Revolving Loans hereunder shall automatically terminate on the (including LOC Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans Loans) outstanding at any particular time shall not affect time, when taken together with the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “outstanding Letter of CreditCredit Obligations, may not exceed the aggregate amount of the Revolving Loan Commitments..

Appears in 1 contract

Samples: Agreement, Limited Waiver And (Fibernet Telecom Group Inc\)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until the earlier of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the balance in the Special Collateral Account has been reduced to less than $1,000,000 but excluding the Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), in Loan Commitment Termination Date an aggregate principal amount at any time outstanding not to exceed exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Amount (as hereinafter defined). As Loan Commitments to be used herein, for the term “purposes identified in subsection 2.5B. The aggregate original amount of the Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments is $25,000,000; PROVIDED that the amount of the Revolving Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4B. Each Lender's Revolving Loan Commitment shall expire immediately and without further action 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 that date; PROVIDED that each Lender's Revolving Loan Commitment shall expire immediately and without further action on June 30, 2001 if the Tranche A Term Loans have not been not made on or before that date. Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event Commitments at any time exceed the lesser of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility Loan Commitments then in effect and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Borrowing Base then in effect.

Appears in 1 contract

Samples: Credit Agreement (Vertex Aerospace Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time during the period on and after the Closing Date to make loans (each a “but excluding the Revolving Loan” or “Loan” and collectively Loan Maturity Date an aggregate amount not exceeding its Pro Rata Share of the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in Section 2.5B. The original amount of each Lender’s Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $120,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time by the amount of any reductions thereto made pursuant to Section 8.2 hereof, 2.4B(ii) and Section 2.4B(v). Each Lender’s Revolving Loan Commitment shall expire on the Revolving Loan Maturity Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount Loan Commitments shall be paid in full no later than that date. Amounts borrowed under this Section 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Maturity Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Alliance HealthCare Services, Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Initial Funding Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date Loan Commitments to be used for the purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Loan Commitments is $250,000,000; provided that the Revolving Loan Commitments of the Revolving Lenders shall be adjusted to give effect (as hereinafter defineda) or the date on which this revolving credit facility (the “any Revolving Credit Facility”) is terminated Loan Commitment increases pursuant to Section 7.1 hereof subsection 2.1A(iv) and (whichever first occurs), in an aggregate principal amount at b) to any time outstanding not to exceed assignments of the Revolving Credit Amount (as hereinafter defined). As used hereinLoan Commitments pursuant to subsection 10.1B; and provided, further that the term “amount of the Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such any reductions thereto made pursuant to subsections 2.4B, 2.4C(ii) and 2.4C(iii). Each Revolving 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on December 1, 1999 if Tranche B Term Loans in the full amount of the Tranche B Term Loan Commitments (without taking account of any increase permitted under subsection 2.1A(iv)) are not made on or before that date and provided further that no Revolving Loans may be reduced at made prior to December 1, 1999 unless the entire amount of the Tranche B Term Loan Commitment (without taking account of any time increase permitted under subsection 2.1A(iv)) has been borrowed. Amounts borrowed under this subsection 2.1A(ii) may be repaid and from time reborrowed up to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In the contrary notwithstanding, in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Security Agreement (Horseshoe Gaming Holding Corp)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon Revolving Loans permitted to be outstanding from time to time, to lend to the representations and warranties herein set forth, the Bank agrees at any time and Station Borrowers from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender’s Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the original Revolving Credit Facility”) Loan Commitment Amount is terminated $5,000,000; provided that the amount of the Revolving Loan Commitment of each Revolving Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date; provided that each Revolving Lender’s Revolving Loan Commitment shall expire immediately and without further action on March 31, 2005, if the Term Loans and the initial Revolving Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Amount then in effect.

Appears in 1 contract

Samples: Credit Agreement (Granite Broadcasting Corp)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date Loan Commitments to be used for the purposes identified in subsection 2.5B. As of the RestatementFourth Amendment Effective Date, the aggregate amount of the Revolving Loan Commitments is $300,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to (as hereinafter defined1) or the date on which this revolving credit facility (the “any increase in Revolving Credit Facility”) is terminated Loan Commitments pursuant to Section 7.1 hereof (whichever first occurssubsection 2.1A(iv), and (2) any assignments of the Revolving Loan Commitments pursuant to subsection 10.1B (in an aggregate principal amount at no event shall any time outstanding not such adjustment cause a Lender’s Revolving Loan Exposure to exceed its Revolving Loan Commitment); and provided further that the amount of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Revolving 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 that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Security Agreement (Isle of Capri Casinos Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (SCHEDULE 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $125,000,000; PROVIDED that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4B(ii). Each Revolving 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 that date; Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Amphenol Corp /De/)

Revolving Loans. Subject Prior to and upon the provisions Closing Date, revolving loans were previously made to the Borrower under the Previous Credit Agreement which remain outstanding as of the date of this Agreement (such outstanding revolving loans being hereinafter referred to as the "Previous Revolving Loans"). Subject to the terms and relying conditions set forth in this Agreement, the Borrower and each of the Lenders agree that on the Closing Date but subject to the satisfaction of the conditions precedent set forth in Sections 4.1 and 4.2 (as applicable), the Previous Revolving Loans shall be reevidenced as Revolving Loans under this Agreement, the terms of the Previous Revolving Loans shall be restated in their entirety and shall be evidenced by this Agreement. From and including the Closing Date and prior to the Revolving Loan Termination Date, upon the representations satisfaction of the conditions precedent set forth in Section 4.1 and warranties herein 4.2, as applicable, each Lender severally and not jointly agrees, on the terms and conditions set forthforth in this Agreement, to (i) make Revolving Loans to the Bank agrees at any time and Borrower from time to time to make loans and (each a “Revolving Loan” or “Loan” and collectively ii) participate in Facility LCs issued upon the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier request of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs)Borrower, in each case in an aggregate principal amount at any time outstanding not to exceed in the aggregate at any one time outstanding of its Revolving Loan Pro Rata Share of the Available Aggregate Revolving Loan Commitment; provided that at no time shall the Aggregate Outstanding Revolving Credit Amount (as hereinafter defined). As used herein, Exposure hereunder exceed the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Available Aggregate Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuingCommitment. Unless sooner terminated pursuant Subject to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions terms of this Agreement, the Borrowers Borrower may borrow, repay and reborrow under this Revolving Credit FacilityLoans at any time prior to the Revolving Loan Termination Date. The fact that there may be no commitment of each Lender to lend hereunder shall automatically expire on the Revolving Loans outstanding at any particular time shall not affect Loan Termination Date. The LC Issuer will issue Facility LCs hereunder on the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”terms and conditions set forth in Section 2.20.

Appears in 1 contract

Samples: Credit Agreement (Res Care Inc /Ky/)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time during the period from the Closing Date to make loans (but excluding the Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Loan Commitments to be used for the purposes identified in subsection 2.5B. The original amount of each a “Revolving Loan” or “Loan” Lender's Revolving Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and collectively the aggregate original amount of the Revolving Loans” or “Loans”Loan Commitments is $190,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to subsection 10.1B; and provided further that the amount of the Revolving Loan Commitments shall be reduced from time to time by the amount of any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Revolving 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 Borrowers from Revolving Loans and the date hereof until Revolving Loan Commitments shall be paid in full no later than that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on the earlier of the Revolving Credit Expiration Date (as hereinafter definedx) or the date on which this revolving credit facility (the “Revolving Credit Facility”) Recapitalization and Merger Agreement is terminated pursuant in accordance with Article 10 thereof and (y) June 30, 1996 if the initial Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(v) may be repaid and reborrowed to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed but excluding the Revolving Credit Amount (as hereinafter defined)Loan Commitment Termination Date. As used hereinAnything contained in this Agreement to the contrary notwithstanding, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, Loans and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) Commitments shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, following limitations in the Borrowers may borrow, repay amounts and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect during the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”.periods indicated:

Appears in 1 contract

Samples: Credit Agreement (Smiths Food & Drug Centers Inc)

Revolving Loans. Subject to the terms and upon the provisions of this Agreement and relying upon the representations and warranties herein conditions set forth, the Bank agrees at any time and from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), forth in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of --------------- this Agreement, this each of the Banks having a Revolving Credit Facility Commitment severally agrees to lend to the Borrower and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers Borrower may borrow, repay and reborrow under this from time to time between the Closing Date and the Revolving Credit Facility. The fact Maturity Date, such amounts as are requested by the Borrower up to a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Revolving Credit Commitment; provided, -------- however, that there may be no the maximum aggregate principal amount of all Revolving Loans ------- outstanding (after giving effect to the amounts requested), plus the aggregate ---- principal amount of all Swingline Loans outstanding, plus the aggregate Stated ---- Amount of Letters of Credit outstanding at any particular time such time, plus the aggregate amount ---- of all unreimbursed draws under outstanding Letters of Credit, shall not affect at any time exceed the continuing validity lesser of this Agreement(i) the aggregate amount of the Revolving Credit Commitments of all of the Banks at such time, and (ii) the Borrowing Base at such time; and provided, further, that at the time the Borrower requests a -------- ------- Revolving Loan and after giving effect to the making thereof, no Default or Event of Default has occurred and is continuing. For It is understood and agreed that for a period of 60 days after the Closing Date, the Borrower shall not be required to calculate the Borrowing Base or to submit the Borrowing Base Report required by Section 5.1(d). Accordingly, it is further agreed that for all purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter Agreement (including the next paragraph of Credit”.this clause (a),

Appears in 1 contract

Samples: Credit and Term Loan Agreement (Wm Acquisition Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Conversion Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5A. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $25,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Lender's Revolving Loan Commitment shall convert on the Revolving Loan Conversion Date and all Revolving Loans shall be converted to a Converted Term Loan; provided that each Lender's Revolving Loan Com- mitment shall expire immediately and without further action at 11:59 P.M. (New York City time) on December 22, 1997 if the AXELs are not made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Conversion Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Optel Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Effective Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date Loan Commitments to be used for the purposes identified in subsection 2.5A. The amount of each Lender’s Revolving Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate amount of the Revolving Loan Commitments is Sixty-Five Million and no/100 Dollars (as hereinafter defined) or $65,000,000.00); provided that the date on which this revolving credit facility (Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Credit Facility”) is terminated Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date. Subject to reduction of the Revolving Loan Commitments pursuant to subsection 2.4, amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Beasley Broadcast Group Inc)

Revolving Loans. Subject Each Revolving Lender severally and not jointly agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company Revolving Loans from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Effective Date to but excluding the earlier Revolving Loan Commitment Termination Date, an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date Loan Commitments. Proceeds of the Revolving Loans will be used for the purposes identified in subsection 2.5B. The original amount of each Revolving Lender’s Revolving Loan Commitment (as hereinafter defined) or the date on which after giving effect to this revolving credit facility (the “Revolving Credit Facility”Agreement) is terminated set forth opposite its name on Schedule 2.1 annexed hereto and the original Revolving Loan Commitment Amount is $100,000,000; provided that the amount of the Revolving Loan Commitment of each Revolving Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may any reductions thereto made pursuant to subsection 2.4 and shall be reduced at any time and increased from time to time by the amount of any increases thereto made pursuant to subsection 2.1A(iii). Each Revolving 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 that date. Amounts borrowed under this subsection 2.1A(ii) may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Amount then in effect.

Appears in 1 contract

Samples: Credit Agreement (Skilled Healthcare Group, Inc.)

Revolving Loans. Subject Each Lender with a Revolving Loan Commitment severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon Revolving Loans permitted to be outstanding from time to time, to lend to the representations and warranties herein set forth, the Bank agrees at any time and Company from time to time during the period after the Closing Date to make loans (each a “but excluding the Revolving Loan” or “Loan” and collectively Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier aggregate amount of the Revolving Credit Expiration Date (as hereinafter definedLoan Commitments, to be used for the purposes identified in subsection 2.5B. The original amount of each Lender’s Revolving Loan Commitment is set forth opposite its name on Schedule 2.1A(ii) or and the date on which this revolving credit facility (aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $50,000,000; provided that the Revolving Loan Commitments of the Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4B(ii) or 2.4C(i). 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 that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed, subject to time pursuant the limitations and conditions set forth herein, to this Agreement or as such amount may be increased or decreased at any time and from time but excluding the Revolving Loan Commitment Termination Date. Notwithstanding anything contained herein to time pursuant to this Agreement. In the contrary, in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Transportation Technologies Industries Inc)

Revolving Loans. Subject to and upon the provisions of this Agreement terms and relying upon the representations and warranties herein conditions set forthforth herein, the Bank each Lender with a 2019 Revolving Loan Commitment severally agrees to make, at any time and from time to time on or after the ClosingAmendment No. 2 Effective Date and prior to make the Revolving Loan Maturity Date, a revolving loan or revolving loans (each a each, an Initial2019 Revolving Loan” or “Loan” and collectively and, collectively, the “Initial or 2019 Revolving Loans” or “Loans”) to the Borrowers from Borrower, which Initial2019 Revolving Loans (i) may be made in Dollars or an Alternate Currency, (ii) except as provided herein, shall, at the date hereof until the earlier option of the Revolving Credit Expiration Date Borrower, be incurred and maintained as Base Rate Loans, LIBOR Loans or, in the case of Alternate Currency Loans, other Fixed Rate Loans, and/or (except in the case of Alternate Currency Loans) converted into Base Rate Loans or LIBOR Loans; provided that (A) except as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to otherwise specifically provided in Section 7.1 hereof (whichever first occurs2.11(b), all Initial2019 Revolving Loans comprising the same Borrowing shall at all times be of the same Type and (B) Base Rate Loans shall only be available in an aggregate principal amount Dollars, (iii) may be repaid and reborrowed in accordance with the provisions hereof and (iv) shall not exceed for any such Lender at any time outstanding not that aggregate principal amount which, when added to exceed the Revolving product of (x) such Lender’s RL Percentage and (y) the sum of (I) the aggregate amount of all Letter of Credit Amount Outstandings (as hereinafter defined). As used hereinexclusive of Unpaid Drawings which are repaid with the proceeds of, and simultaneously with the incurrence of, the term “respective incurrence of 2019 Revolving Credit Expiration Date” means November 1, 2013, as Loans) at such date may be changed or extended from time to time pursuant to Section 8.2 hereofand (II) the aggregate principal amount of all Swingline Loans (exclusive of Swingline Loans which are repaid with the proceeds of, and simultaneously with the term “incurrence of, the respective incurrence of 2019 Revolving Credit Amount” means Loans) then outstanding, equals the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Initial 2019 Revolving Loan hereunder if an Event Commitment of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding such Lender at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”such time.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Informatica Inc.)

Revolving Loans. Subject On the terms and subject to the conditions set forth in this Agreement, and upon provided there does not then exist a Default or an Event of Default, each Lender, severally and for itself alone, agrees to make in Dollars such Lender’s Pro Rata Share of revolving loans (such loans are collectively called “Revolving Loans” and individually called a “Revolving Loan”) to the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Bank agrees at any time and Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” on and collectively after the “Revolving Loans” or “Loans”) Closing Date and prior to the Borrowers from Credit Termination Date, so long as the date aggregate amount of such advances outstanding at any time to the Borrower do not exceed the lesser of: (i) the Maximum Revolving Facility at such time minus any reserves established by the Administrative Agent pursuant to Section 2.1(b) hereof until and (ii) the earlier Borrowing Base at such time minus any reserves established by the Administrative Agent pursuant to Section 2.1(b) hereof, in each case, if at any time applicable, minus all Letter of Credit Obligations. The aggregate outstanding principal amount of Revolving Loans immediately prior to giving effect to this Agreement is equal to Twelve Million Nine-Hundred Thousand Dollars ($12,900,00). The Borrower shall have the right to repay and reborrow any of the Revolving Credit Expiration Date Loans without premium or penalty (subject to Section 3.4 hereof); provided, however, that it shall be a condition precedent to any reborrowing that as hereinafter defined) or of the date on which this revolving credit facility of any reborrowing (the any such date herein called a Revolving Credit FacilityReborrowing Date”) is terminated pursuant all of the conditions to borrowing set forth in Section 7.1 hereof 5.1 of this Agreement shall be satisfied and all representations and warranties made herein shall be true and correct in all material respects (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013without duplication of materiality, as applicable) as of such Reborrowing Date. The payment obligations of the Borrower to the Lenders and Administrative Agent hereunder are and shall be joint and several as provided in Section 12.21 hereof. The failure of any Lender to make a requested Revolving Loan on any date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount shall not relieve any other Lender of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated its obligation to make a Revolving Loan hereunder if an Event on such date, but no Lender shall be responsible for the failure of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank any other Lender to make any Revolving Loans hereunder shall automatically terminate on the Loan to be made by such other Lender. Each Lender’s obligation to fund any Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” Loan shall be deemed limited to also refer to a “Letter of Credit”such Lender’s Pro Rata Share.

Appears in 1 contract

Samples: Revolving Loan and Security Agreement (Diversicare Healthcare Services, Inc.)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $150,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal subsection 10.1B; and provided further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Revolving 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on April 30, 1997 if the Term Loans are not purchased pursuant to the Master Assignment Agreement on or before that date. Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Smiths Food & Drug Centers Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Effective Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender’s Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $100,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may be reduced at any time and from time to time reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date. Amounts borrowed under this subsection 2.1A(ii) may, subject to the conditions herein and in Section 4, be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Newmarket Corp)

Revolving Loans. Subject to and upon the provisions Each Revolving Loan borrowing (including, without --------------- limitation, each Mandatory Borrowing), each payment or prepayment of this Agreement and relying upon the representations and warranties herein set forth, the Bank agrees at principal of any time and from time to time to make loans (each a “Revolving Loan” or “Loan” , each payment of fees (other than the Issuing Lender Fees retained by the Issuing Lender for its own account and collectively the “Revolving Loans” or “Loans”) to Administrative Fees retained by the Borrowers from the date hereof until the earlier Agent for its own account), each reduction of the Revolving Credit Expiration Date (as hereinafter defined) Committed Amount, and each conversion or the date on which this revolving credit facility (the “continuation of any Revolving Credit Facility”) is terminated Loan pursuant to Section 7.1 hereof 2.3, shall (whichever first occursexcept as otherwise provided in Section 3.3(c)) be allocated pro rata among the relevant Lenders in accordance with the respective Revolving Loan Commitment Percentages, of such Lenders (or, if the Commitments of such Lenders have expired or been terminated, in an aggregate accordance with the respective principal amount at amounts of the outstanding Revolving Loans and Participation Interests of such Lenders); provided that, if any time outstanding not Lender shall have failed to exceed pay (and -------- such failure shall be continuing) its applicable pro rata share of any Revolving Loan, which share was funded by the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time Agent pursuant to Section 8.2 hereof2.1(c), and the term “Revolving Credit Amount” means the then any amount of $7,500,000 as to which such amount may Lender would otherwise be reduced at any time and from time to time entitled pursuant to this Agreement subsection (a) shall instead be payable to the Agent; provided further, that in the event any amount paid to any Lender pursuant to -------- ------- this subsection (a) is rescinded or as must otherwise be returned by the Agent, each Lender shall, upon the request of the Agent, repay to the Agent the amount so paid to such Lender, with interest for the period commencing on the date such payment is returned by the Agent until the date the Agent receives such repayment at a rate per annum equal to, during the period to but excluding the date two Business Days after such request, the Federal Funds Rate, and thereafter, the Base Rate plus two percent (2%) per annum; and ---- (b) Letters of Credit. Each payment of unreimbursed drawings in respect of LOC Obligations shall be allocated to each LOC Participant pro rata in accordance with its Revolving Loan Commitment Percentage; provided that, if any LOC Participant shall have failed to pay (and such failure shall be continuing) its applicable pro rata share of any drawing under any Letter of Credit, which share was funded by the Issuing Lender, then any amount may to which such LOC Participant would otherwise be increased or decreased at any time and from time to time entitled pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default subsection (as hereinafter definedb) shall have occurred and instead be continuing. Unless sooner terminated payable to the Issuing Lender; provided -------- further, that in the event any amount paid to any LOC Participant pursuant to ------- this subsection (b) is rescinded or must otherwise be returned by the provisions of this AgreementIssuing Lender, this Revolving Credit Facility and each LOC Participant shall, upon the obligation request of the Bank Issuing Lender, repay to make Revolving Loans hereunder shall automatically terminate the Agent for the account of the Issuing Lender the amount so paid to such LOC Participant, with interest for the period commencing on the Revolving Credit Expiration Date without further action bydate such payment is returned by the Issuing Lender until the date the Issuing Lender receives such repayment at a rate per annum equal to, or notice of any kind fromduring the period to but excluding the date two Business Days after such request, the Bank. Within the limitations set forth herein Federal Funds Rate, and subject to the provisions of this Agreementthereafter, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Base Rate plus two percent (2%) per ---- annum.

Appears in 1 contract

Samples: Credit Agreement (Deltic Timber Corp)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Loan Commitments to be used for the purposes identified in subsection 2.5A. The original amount of each Lender’s Revolving Loan Commitment on the Closing Date is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Loan Commitments on the Closing Date is Seventy-Five Million Dollars (as hereinafter defined) or $75,000,000); provided that the date on which this revolving credit facility (Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Credit Facility”) is terminated Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date. Subject to reduction of the Revolving Loan Commitments pursuant to subsection 2.4, amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Beasley Broadcast Group Inc)

Revolving Loans. Subject Prior to and upon the provisions Closing Date, revolving loans were previously made to the Borrower under the Previous Credit Agreement which remain outstanding as of the date of this Agreement (such outstanding revolving loans being hereinafter referred to as the “Previous Revolving Loans”). Subject to the terms and relying conditions set forth in this Agreement, the Borrower and each of the Lenders agree that on the Closing Date but subject to the satisfaction of the conditions precedent set forth in Sections 4.1 and 4.2 (as applicable), the Previous Revolving Loans shall be reevidenced as Revolving Loans under this Agreement, the terms of the Previous Revolving Loans shall be restated in their entirety and shall be evidenced by this Agreement. From and including the Closing Date and prior to the Revolving Loan Termination Date, upon the representations satisfaction of the conditions precedent set forth in Section 4.1 and warranties herein 4.2, as applicable, each Lender severally and not jointly agrees, on the terms and conditions set forthforth in this Agreement, to (i) make Revolving Loans to the Bank agrees at any time and Borrower from time to time to make loans and (each a “Revolving Loan” or “Loan” and collectively ii) participate in Facility LCs issued upon the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier request of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs)Borrower, in each case in an aggregate principal amount at any time outstanding not to exceed in the aggregate at any one time outstanding of its Revolving Loan Pro Rata Share of the Available Aggregate Revolving Loan Commitment; provided that at no time shall the Aggregate Outstanding Revolving Credit Amount (as hereinafter defined). As used herein, Exposure hereunder exceed the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Available Aggregate Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuingCommitment. Unless sooner terminated pursuant Subject to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions terms of this Agreement, the Borrowers Borrower may borrow, repay and reborrow under this Revolving Credit FacilityLoans at any time prior to the Revolving Loan Termination Date. The fact that there may be no commitment of each Lender to lend hereunder shall automatically expire on the Revolving Loans outstanding at any particular time shall not affect Loan Termination Date. The LC Issuer will issue Facility LCs hereunder on the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”terms and conditions set forth in Section 2.20.

Appears in 1 contract

Samples: Credit Agreement (Res Care Inc /Ky/)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to the limitations set forth below with respect to the maximum amount of Revolving Loans permitted to be outstanding from time to time, to lend to Domestic Borrowers, on a joint and upon the provisions of this Agreement and relying upon the representations and warranties herein set forthseveral basis, the Bank agrees at any time and from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to, but excluding, the earlier Revolving Loan Commitment Termination Date an aggregate amount in Dollars not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Loan Commitments to be used for the purposes identified in subsection 2.5A. The original amount of each Revolving Lender’s Revolving Loan Commitment as of the Closing Date (as hereinafter defined) or is set forth on Schedule 2.1 and the date on which this revolving credit facility (aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $250,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B, in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may shall be changed or extended increased from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may any increase thereto pursuant to subsection 2.1A(iv), and shall be reduced at any time and from time to time by the amount of any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date. Amounts borrowed under this subsection 2.1A(i) may, subject to the terms and conditions herein, be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Sybron Dental Specialties Inc)

Revolving Loans. Subject to the terms and upon the provisions conditions of this Agreement AGREEMENT and relying upon the representations other LOAN DOCUMENTS, each of the LENDERS severally agrees to extend a loan or loans to the BORROWERS as co-obligors (each a “REVOLVING LOAN” and warranties herein set forthcollectively, the Bank agrees at any time and “REVOLVING LOANS”) from time to time until the REVOLVING LOAN MATURITY DATE, in aggregate principal amounts outstanding at any one time which when added to such LENDER’S COMMITMENT of: (a) the L/C OBLIGATIONS then outstanding, and (b) the principal amount of SWINGLINE LOANS then outstanding, does not exceed such LENDER’S COMMITMENT; provided, however, that at no time shall the aggregate principal unpaid balances of all outstanding LOANS plus the L/C OBLIGATIONS then outstanding exceed the TOTAL COMMITMENT. The BORROWERS shall not request any advances of proceeds of the REVOLVING LOANS which would cause the aggregate unpaid principal balances of the REVOLVING LOANS to exceed the above-stated limitations. In the event that the aggregate unpaid principal balances of the REVOLVING LOANS exceed the limitations provided for herein, the BORROWERS shall immediately make loans (each a “Revolving Loan” or “Loan” and collectively the “Revolving Loans” or “Loans”) such payments to the Borrowers from AGENT as will be sufficient to reduce the date hereof until the earlier aggregate unpaid principal balances of the Revolving Credit Expiration Date (as hereinafter defined) or REVOLVING LOANS to an aggregate amount which will not be in excess of such limitations. Each REVOLVING LOAN extended by a LENDER shall be in a principal amount equal to the date on which this revolving credit facility (LENDER’S COMMITMENT PERCENTAGE of the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not of the REVOLVING LOANS requested on such occasion. Subject to exceed the Revolving Credit Amount (as hereinafter defined). As used hereinterms and conditions of this AGREEMENT and the other LOAN DOCUMENTS, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers BORROWERS may borrow, repay prepay, and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For REVOLVING LOANS in whole or in part until the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”REVOLVING LOAN MATURITY DATE.

Appears in 1 contract

Samples: Credit Agreement (Dover Motorsports Inc)

Revolving Loans. Subject to the terms and upon the provisions conditions of this Agreement and relying in reliance upon the representations and warranties herein of Company, each Lender having a Revolving Loan Commitment severally agrees, subject to the limitations set forthforth below with respect to the maximum amount of Revolving Loans permitted to be outstanding from time to time, the Bank agrees at any time to (a) maintain its outstanding Revolving Loans and (b) to make additional Revolving Loans to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until the earlier of Restatement Date to but excluding the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs)Loan Commitment Termination Date, in an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Loan Commitments to be used for the purposes identified in subsection 2.5B. On the Restatement Date, simultaneously with the effectiveness of this Agreement but without giving effect to any borrowings hereunder, the aggregate outstanding principal amount at of Revolving Loans was $9,499,670.75. The aggregate amount of each Lender's outstanding Revolving Loans on the Restatement Date, simultaneously with the effectiveness of this Agreement but without giving effect to any time outstanding not to exceed borrowings hereunder, is set forth opposite its name on Schedule 2.1 annexed hereto. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Amount (as hereinafter defined). As used hereinLoan Commitments is $15,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to subsection 9.1B; and provided, further that the term “amount of the Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). 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 that date; provided that each Lender's Revolving Loan Commitment shall expire immediately and without further action on December 18, 1997 if the Existing AXELs are not converted to Tranche A Term Loans and Tranche B Term Loans on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In the contrary notwithstanding, in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event Commitments at any time exceed the lesser of Default (as hereinafter defined1) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, Loan Commitments then in effect and (2) the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Borrowing Base as then in effect.

Appears in 1 contract

Samples: Credit Agreement (Benedek License Corp)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forth, the Bank agrees at any time and Revolving Loans permitted to be outstanding from time to time set forth below, to make loans (each a “Revolving Loan” or “Loan” and collectively lend to Company from time to time during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5A. The amount of each Revolving Lender’s Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto, and the Revolving Credit Facility”) Loan Commitment Amount is terminated $100,000,000; provided that the amount of the Revolving Loan Commitment of each Revolving Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B, in an aggregate principal shall be reduced from time to time by the amount at of any time outstanding not reductions thereto made pursuant to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date subsection 2.4 and may be changed or extended increased from time to time pursuant to Section 8.2 hereof, subsection 2.10. Each Revolving 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 term “Revolving Credit Amount” means the amount of $7,500,000 as such amount Loan Commitments shall be paid in full no later than that date. Amounts borrowed under this subsection 2.1A(i) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitations that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Amount then in effect.

Appears in 1 contract

Samples: Credit Agreement (Ruths Hospitality Group, Inc.)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $75,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action at the close of business on January 16, 2001 if the Term Loans and the initial Revolving Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In the contrary notwithstanding, in no event shall the Bank be obligated to make a Total Utilization of the Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Oxford Health Plans Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions --------------- limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments, to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate ------------ original amount of the Revolving Credit Facility”) Loan Commitments is terminated $25,000,000; provided -------- that the Revolving Loan Commitments of the Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal subsection 10.1B; provided further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan -------- ------- Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4B. 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 that date. Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed, subject to time pursuant the limitations and conditions set forth herein, to this Agreement or as such amount may be increased or decreased at any time and from time but excluding the Revolving Loan Commitment Termination Date. Notwithstanding anything contained herein to time pursuant to this Agreement. In the contrary, in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Microclock Inc)

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Revolving Loans. Subject to the terms and upon conditions set forth herein, each Revolving Lender severally agrees to make Revolving Loans to the provisions of Borrower in Dollars pursuant to this Agreement and relying upon the representations and warranties herein set forth, the Bank agrees at any time and Section 2.01(a) from time to time during the Revolving Availability Period in amounts such that its Revolving Outstandings shall not exceed (after giving effect to make loans (all Revolving Loans repaid, all reimbursements of L/C Disbursements made, and all Refunded Swing Line Loans paid concurrently with the making of any Revolving Loans) its Revolving Commitment; provided that, immediately after giving effect to each a “such Revolving Loan” or “Loan” , (i) the aggregate Revolving Outstandings shall not exceed the Revolving Committed Amount and collectively (ii) with respect to each Revolving Lender individually, such Lender’s outstanding Revolving Loans plus its (other than the Swing Line Lender’s in its capacity as such) Participation Interests in outstanding Swing Line Loans plus its Participation Interests in outstanding L/C Obligations shall not exceed such Lender’s Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier Commitment Percentage of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Committed Amount. Each Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), Borrowing comprised of Eurodollar Loans shall be in an aggregate principal amount at of $1,000,000 or any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereoflarger multiple of $100,000, and the term “each Revolving Credit Amount” means the Borrowing comprised of Base Rate Loans shall be in an aggregate principal amount of $7,500,000 as 1,000,000 or any larger multiple of $100,000 (except that any such amount Borrowing may be reduced at in the aggregate amount of the unused Revolving Commitments and any time and from time to time pursuant to this Agreement or as such amount L/C Borrowing may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall in the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice aggregate amount of any kind from, outstanding Unreimbursed Amounts owed to one or more L/C Issuers as provided in Section 2.05(e)(iv)) and shall be made from the Bankseveral Revolving Lenders ratably in proportion to their respective Revolving Commitments. Within the limitations set forth herein and subject foregoing limits, the Borrower may borrow under this Section 2.01(a), repay, or, to the provisions of this Agreementextent permitted by Section 2.09, the Borrowers may borrowprepay, repay Revolving Loans and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Section 2.01(a).

Appears in 1 contract

Samples: Credit Agreement (Medassets Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date Loan Commitments to be used for the purposes identified in subsection 2.5B. The aggregate original amount of the Revolving Loan Commitments is $60,000,000; provided that (as hereinafter defined1) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated Loan Commitments of Revolving Lenders shall be adjusted to give effect to any increase in Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurssubsection 2.1A(iv), in an aggregate principal and (2) the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4B. 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 that date; provided that each Lender's Revolving Loan Commitment shall expire immediately and without further action on May 15, 2001 if the Term Loans and the initial Revolving Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event Commitments at any time exceed the lesser of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility Loan Commitments then in effect and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Borrowing Base then in effect.

Appears in 1 contract

Samples: Credit Agreement (Winsloew Furniture Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Loan Commitments to be used for the purposes identified in subsection 2.5A. The original amount of the Revolving Loan Commitments under this Agreement is $200,000,000 and each Lender’s Revolving Loan Commitment as of the Closing Date (as hereinafter defined) or is set forth opposite its name on Schedule 2.1 annexed hereto; provided that the date on which this revolving credit facility (Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Credit Facility”) is terminated Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal subsection 10.1B; and provided further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4A(ii) and 2.4A(iii). 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 that date. Amounts borrowed under this subsection 2.1A(i) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loan and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Petco Animal Supplies Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Final Maturity Date an aggregate amount outstanding at any time not exceeding the lesser of the amount of its Revolving Loan Commitment and its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date Loan Commitments to be used for the purposes identified in subsection 2.5B. The original amount of each Revolving Lender’s Revolving Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Loan Commitments is Twenty Million Dollars (as hereinafter defined) or $20,000,000); provided that the date on which this revolving credit facility (Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Credit Facility”) is terminated Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving Lender’s Revolving Loan Commitment shall expire on the Final Maturity 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 that date. Subject to reduction of the Revolving Loan Commitments pursuant to subsection 2.4, amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Final Maturity Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Courtside Acquisition Corp)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (SCHEDULE 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $175,000,000; PROVIDED that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 11.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date; PROVIDED that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on August 17, 2000 if the initial Revolving Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(i) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Manufacturers Services LTD)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon Revolving Loans permitted to be outstanding from time to time, to make revolving loans (each such loan a “Revolving Loan”) to the representations and warranties herein set forth, Borrower in Dollars requested by the Bank agrees at any time and Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date in an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used in accordance with the date terms of this Agreement. The original amount of each Lender’s Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 and the original Revolving Credit Facility”) Loan Commitment Amount is terminated $395,000,000; provided that the amount of the Revolving Loan Commitment of each Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs)subsection 9.1B, in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 any reductions thereto made pursuant to subsection 2.4 and shall be increased as such amount necessary to give effect to any increases thereto made pursuant to subsection 2.10. Each Lender’s Revolving Loan Commitment shall expire on the Revolving Loan Commitment Termination Date and the Borrower hereby agrees that all Revolving Loans and all other Obligations of the Borrower shall be paid in full no later than that date. Amounts borrowed under this subsection 2.1A(i) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Amount then in effect.

Appears in 1 contract

Samples: Credit Agreement (Jones Financial Companies LLLP)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $15,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may be reduced at any time and from time to time reductions thereto made pursuant to this Agreement or as such amount may be increased or decreased at any time subsections 2.4B(ii) and from time to time pursuant to this Agreement2.4B(iii). In no event shall the Bank be obligated to make a Each Revolving Lender's Revolving Loan hereunder if an Event of Default (as hereinafter defined) Commitment shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate expire on the Revolving Credit Expiration 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action byon November 30, 1999 if the Term Loans and any initial Revolving Loans are not made on or notice of any kind frombefore that date. Amounts borrowed under this subsection 2.1A(ii) may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement to the contrary notwithstanding, the Bank. Within Revolving Loans and the limitations set forth herein and Revolving Loan Commitments shall be subject to the provisions of this Agreement, following limitations in the Borrowers may borrow, repay amounts and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect during the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”.periods indicated:

Appears in 1 contract

Samples: Credit Agreement (Blackbaud Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to make revolving loans (each such loan a “Revolving Loan”) to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Effective Date to but excluding the earlier Revolving Loan Commitment Termination Date in an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used in accordance with the date terms of this Agreement. The original amount of each Lender’s Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the original Revolving Credit Facility”) Loan Commitment Amount is terminated $200,000,000; provided that the amount of the Revolving Loan Commitment of each Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Lender’s Revolving Loan Commitment shall expire on the Revolving Loan Commitment Termination Date and Company hereby agrees that all Revolving Loans and all other Obligations shall be paid in full no later than that date. Amounts borrowed under this subsection 2.1A(i) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Amount then in effect.

Appears in 1 contract

Samples: Credit Agreement (Stancorp Financial Group Inc)

Revolving Loans. Subject to the terms and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Bank agrees at any time and from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes conditions of this Agreement, each reference Lender severally agrees, subject to a “Loan” or a “the limitations set forth below with respect to the maximum amount of Revolving Loan” Loans permitted to be outstanding from time to time, to lend to the Company from time to time during the period from the time of Closing on the Closing Date to but excluding the Revolving Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Loan Commitments to be used for the purposes identified in subsection 7.12; provided that the aggregate amount of Revolving Loans made on the Closing Date shall not exceed $5,000,000; and provided further that for at least 30 consecutive days during each period beginning each December 31 and ending the following March 31, the sum of the Effective Amount of all Revolving Loans plus the Effective Amount of all L/C Obligations shall not exceed at any time the Revolving Clean-Down Amount. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on Schedule 2.01 annexed hereto and the aggregate original amount of the Revolving Loan Commitments is $25,000,000; provided that the Revolving Loan Commitments of the Lenders shall be deemed adjusted to also refer give effect to a “Letter any assignments of Credit”the Revolving Loan Commitments pursuant to subsection 11.08; and provided, further that the amount of the Revolving Loan Commitments shall be reduced from time to time by the amount of any reductions thereto made pursuant to Section 2.05. Each Lender's Revolving Loan Commitment shall expire on the Revolving 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 that date; provided that each Lender's Revolving Loan Commitment shall expire immediately and without further action on November 14, 1997 if the Closing Date Term Loans and the initial Revolving Loans are not made on or before that date, provided, however, that, after giving effect to any Borrowing of Revolving Loans, the Effective Amount of all outstanding Revolving Loans and the Effective Amount of all L/C Obligations, shall not at any time exceed the combined Revolving Loan Commitments; and provided further, that the Effective Amount of the Revolving Loans of any Lender plus the participation of such Lender in the Effective Amount of all L/C Obligations shall not at any time exceed such Lender's Revolving Loan Commitment. Amounts borrowed under this subsection 2.01(c) may be repaid and reborrowed to but excluding the Revolving Termination Date.

Appears in 1 contract

Samples: Credit Agreement (White Cap Holdings Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Effective Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $325,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal subsection 11.1B; and provided further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may be reduced at any time and from time to time reductions thereto made pursuant to this Agreement or as such amount may be increased or decreased at any time subsections 2.4B(ii) and from time to time pursuant to this Agreement2.4B(iii). In no event shall the Bank be obligated to make a Each Revolving 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on May 31, 1997 if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated the Term Loans are not purchased pursuant to the provisions of Master Assignment Agreement on or before that date. Amounts borrowed under this Agreementsubsection 2.1A(iii) may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement to the contrary notwithstanding, this the Revolving Credit Facility Loans and the obligation of the Bank to make Revolving Loans hereunder Loan Commitments shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and be subject to the provisions of this Agreement, following limitations in the Borrowers may borrow, repay amounts and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect during the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”.periods indicated:

Appears in 1 contract

Samples: Credit Agreement (Bay Area Warehouse Stores Inc)

Revolving Loans. Subject Each Revolving Lender severally, and for itself alone, agrees, on the terms and subject to the conditions hereinafter set forth and upon the provisions of this Agreement and relying in reliance upon the representations and warranties set forth herein set forthand in the other Loan Documents, to continue to make loans to the Bank agrees at any time and Borrower on a revolving basis from time to time to make loans (each a “from and after the Restatement Date to, but not including, the Revolver Termination Date, in its Revolving Loan” or “Loan” and collectively Loan Pro Rata Share of such aggregate amount as the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs)Borrower may request, but not exceeding in an aggregate principal amount at any one time outstanding not (giving effect to exceed the contemporaneous application of any Revolving Loan proceeds to the payment of any L/C Obligations, Fxxxxxxx L/C Obligations or Swing Line Loans) the applicable Revolving Loan Commitment of such Revolving Lender at such time minus (i) such Revolving Lender's Revolving Loan Pro Rata Share of the L/C Obligations outstanding at such time, (ii) such Revolving Lender's Revolving Loan Pro Rata Share of Fxxxxxxx L/C Obligations outstanding at such time and (iii) such Revolving Lender's Revolving Loan Pro Rata Share of Swing Line Loans outstanding at such time. The Borrower and the Revolving Lenders acknowledge the making of the Revolving Loans which are outstanding on the Restatement Date in accordance with the terms of the Existing Credit Amount (as hereinafter defined). As used herein, the term “Agreement and agree that such Revolving Credit Expiration Date” means November 1, 2013, as such date may Loans shall continue to be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated outstanding pursuant to the provisions terms and conditions of this Agreement, this Revolving Credit Facility Agreement and the obligation other Loan Documents. Prior to the Revolver Termination Date, Revolving Loans may be repaid and reborrowed by the Borrower in accordance with the provisions hereof. Notwithstanding the foregoing, in the event that the Borrower repays Revolving Loans with proceeds from the Additional Term Loan and/or the issuance or incurrence of Indebtedness permitted by Section 5.2.2(w), the Borrower shall maintain a Total Available Revolving Commitment in an amount not less than (i) the aggregate amount of Revolving Loans repaid with proceeds from the Additional Term Loan and/or the issuance or incurrence of Indebtedness permitted by Section 5.2.2(w) minus (ii) the aggregate amount of Revolving Loans incurred by the Borrower after June 30, 1995, the proceeds of which are used by the Borrower to repurchase, prepay, redeem or otherwise extinguish any 8- 7/8% Notes, any 12-1/8% Subordinated Debentures or any Indebtedness for Money Borrowed of the Bank Borrower constituting Senior Indebtedness, in each case as permitted by Section 5.2.10(a)(xiv), until the earlier to make Revolving Loans hereunder shall automatically terminate occur of (A) the repurchase, prepayment or conversion in full of all of the 8-7/8% Notes or (B) the repurchase, prepayment, redemption or other extinguishment of 12-1/8% Subordinated Debentures and/or Indebtedness for Money Borrowed of the Borrower constituting Senior Indebtedness in an aggregate amount equal to, if positive, (1) the aggregate amount of proceeds received by the Borrower from the Additional Term Loan and the issuance or incurrence of Indebtedness permitted by Section 5.2.2(w) minus (2) the aggregate cash consideration paid by or on behalf of the Revolving Credit Expiration Date without further action by, Borrower to repurchase or notice of any kind from, prepay the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”8-7/8% Notes as permitted by Section 5.2.10(a)(xiv).

Appears in 1 contract

Samples: Credit Agreement (Stone Container Corp)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $75,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). 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 that date; provided that each Lender's Revolving Loan Commitment shall expire immediately and without further action on February 20, 1998 if the Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Mitel Corp)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions --------------- limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the ------------ Revolving Credit Facility”) Loan Commitments is terminated $45,000,000; provided that the Revolving Loan -------- Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall -------- ------- be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). 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 that date; provided that each Lender's Revolving -------- Loan Commitment shall expire immediately and without further action on November 14, 1997 if the Closing Date shall not have occurred on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In the contrary notwithstanding, in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Sandhills Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time during the period from the Business Day immediately succeeding the Closing Date to make loans (but excluding the Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Loan Commitments to be used for the purposes identified in subsection 2.5B. The original amount of each a “Revolving Loan” or “Loan” Lender's Revolving Loan Commitment is set forth opposite its name on Schedule 2.1 annexed hereto and collectively the aggregate original amount of the Revolving Loans” or “Loans”Loan Commitments is $120,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to subsection 11.1B; and provided further that the amount of the Revolving Loan Commitments shall be reduced from time to time by the amount of any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Revolving 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 Borrowers from Revolving Loans and the date hereof until Revolving Loan Commitments shall be paid in full no later than that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on the earlier of the date of consummation of the IPO and November 15, 1996 if the Term Loans are not made on or before such earlier date. Amounts borrowed under this subsection 2.1A(iii) may be repaid and reborrowed to but excluding the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitment Termination Date. Anything contained in this Agreement to the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs)contrary notwithstanding, in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Dominicks Supermarkets Inc)

Revolving Loans. Subject to and upon the provisions terms and conditions herein set forth, during the period from the date hereof to the earliest to occur (the "REVOLVING LOANS TERMINATION DATE") of (i) the date on which the Required Holders thereof require the repurchase of the Revolving Notes pursuant to paragraph 5E or the Required Holders thereof exercise the option pursuant to paragraph 5E to require the repurchase in their entirety of the Term Notes, (ii) the date on which the Term Notes are otherwise paid or prepaid in their entirety or required to be so paid or prepaid, including, without limitation, by automatic acceleration or demand for payment and (iii) the third anniversary of the date of this Agreement Agreement, Prudential shall lend to the Company from time to time on any Business Day sums (each a "REVOLVING LOAN" and relying upon collectively the representations "REVOLVING LOANS") which in the aggregate principal amount outstanding shall not exceed at any one time $5,000,000 until the first anniversary of the date of this Agreement, and warranties $3,000,000 at all times thereafter (such maximum aggregate amount being herein referred to as the "REVOLVING COMMITMENT"). If the outstanding principal amount of the Revolving Loans at any time exceeds the Revolving Commitment amount in effect from time to time, the Company shall immediately prepay the Revolving Loans in the amount of such excess. Within the limits of the Revolving Commitment and subject to the terms and conditions herein set forth, the Bank agrees at any time Company may borrow, prepay pursuant to paragraph 2B(2) and from time to time to make loans (reborrow under paragraph 2B(4). The principal amount of each a “Revolving Loan” Loan shall be $100,000 or “Loan” and collectively the “an integral multiple thereof. Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier of Loans shall be evidenced by the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant Note. If necessary to Section 7.1 hereof (whichever first occurs), evidence any change in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Agreement relating to the Revolving Credit Facility Note and agreed to in writing by Prudential and the obligation Company, the Company shall furnish a replacement Revolving Note to Prudential in substitution for, but not in discharge of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action liability evidenced by, or notice the prior Revolving Note. Upon issuance of any kind fromsuch replacement Revolving Note by the Company, Prudential shall return the Bank. Within the limitations set forth herein and subject previously outstanding Revolving Note to the provisions of this Agreement, Company or certify in writing that the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”replacement note supersedes such previous note.

Appears in 1 contract

Samples: Corinthian Colleges Inc

Revolving Loans. Subject to and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Bank Each Revolving Lender severally agrees at any time and from time to time to make revolving loans (each a “Revolving Loan” or “Loan” and collectively the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof Closing Date until the earlier Revolving Loan Commitment Termination Date in an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (Loan Commitments. Each Borrower shall use the proceeds of any such Revolving Loans solely for the purposes identified in Section 5.12. The amount of each Revolving Lender’s Commitment as hereinafter defined) or of the date of the Ninth Amendment is set forth opposite its name on which this revolving credit facility (Schedule 2.1.A annexed hereto and the aggregate amount of the Revolving Credit Facility”) Loan Commitments is terminated $11,224,043,14; provided that the Revolving Loan Commitments of the applicable Revolving Lenders shall be adjusted to give effect to any assignments of such Revolving Lender’s respective Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal 9.1.; and provided further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time by the amount of any reductions thereto made pursuant to Section 8.2 hereof2.5. Notwithstanding anything to the contrary herein, and the term “Revolving Credit Amount” means the outstanding principal amount of $7,500,000 as such amount may be reduced Revolving Loans made pursuant to this Section 2.1.A(ii) shall not at any time exceed $5,142,298.87. Each Revolving Lender’s Revolving Loan Commitments shall expire immediately and from time to time without further action on the Revolving Loan Commitment Termination Date and no Revolving Loans shall be made after such date. Amounts borrowed under this Section 2.1.A.(ii) and subsequently repaid or prepaid may be reborrowed; provided, however, that (i) the aggregate principal amount of Revolving Loans outstanding that were made pursuant to this Agreement or as such amount may be increased or decreased Section 2.1.A(ii) shall not at any time exceed $5,142,298.87 and from time to time pursuant to this Agreement. In no event shall (ii) the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation aggregate principal amount of the Bank to make Revolving Loans hereunder shall automatically terminate on the (including LOC Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans Loans) outstanding at any particular time shall not affect time, when taken together with the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “outstanding Letter of Credit”Credit Obligations, may not exceed the aggregate amount of the Revolving Loan Commitments.

Appears in 1 contract

Samples: Credit Agreement (Fibernet Telecom Group Inc\)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (SCHEDULE 2.1 annexed hereto and the original Revolving Credit Facility”) Loan Commitment Amount is terminated $40,000,000; PROVIDED that the amount of the Revolving Loan Commitment of each Revolving Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may be reduced at any time reductions thereto made pursuant to subsection 2.4 and increased from time to time by the amount of any increases thereto made pursuant to subsection 2.1(iv). Each Revolving 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 that date; PROVIDED that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action at 11:59 p.m. New York time on December 8, 2005 if the Term Loans are not made on or before that time. Amounts borrowed under this subsection 2.1A(ii) may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Amount then in effect.

Appears in 1 contract

Samples: Credit Agreement (Clayton Holdings Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Loan Commitments to be used for the purposes identified in subsection 2.5B; provided that not more than $3,000,000 of the Revolving Loans may be made on the Closing Date (as hereinafter defined) or the date on which this revolving credit facility (the “Closing Date Revolving Credit FacilityLoans) ). The original amount of each Revolving Lender’s Revolving Loan Commitment will be set forth in an allocation letter delivered to such Lender by Administrative Agent and the original Revolving Loan Commitment Amount is terminated $20,000,000; provided that the amount of the Revolving Loan Commitment of each Revolving Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Amount then in effect.

Appears in 1 contract

Samples: Credit Agreement (Panolam Industries International Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon Revolving Loans permitted to be outstanding from time to time, to make revolving loans (each such loan a “Revolving Loan”) to the representations and warranties herein set forth, the Bank agrees at any time and Borrower in Dollars from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date in an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Loan Commitments to be used in accordance with the terms of this Agreement. The originalAs of the First Amendment Effective Date, the amount of each Revolving Lender’s Revolving Loan Commitment is set forth opposite its name on Schedule 2.1 and the original Revolving Loan Commitment Amount is $2,000,000,000as of the First Amendment Effective Date (as hereinafter defined) or is $2,200,000,000; provided that the date on which this revolving credit facility (amount of the Revolving Credit Facility”) is terminated Loan Commitment of each Revolving Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed reduced or extended increased from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 any reductions or increases thereto made pursuant to subsections 2.4 or 2.10. Each Revolving Lender’s Revolving Loan Commitment shall expire on the Revolving Loan Commitment Termination Date and the Borrower hereby agrees that all Revolving Loans and all other Obligations of the Borrower then CHAR1\1732468v1CHAR1\1735441v5 outstanding shall be paid in full on the Revolving Loan Commitment Termination Date; provided, however, that Obligations in respect of the Term Loans shall be paid as such amount provided in subsections 2.4A(iv) and 2.2C. Amounts borrowed under this subsection 2.1A(i) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Amount then in effect.

Appears in 1 contract

Samples: Credit Agreement (Mosaic Co)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $20,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4B(ii). 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 that date; provided that each Lender's Revolving Loan Commitment shall expire immediately and without further action on January 12, 1997 if initial Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(iv) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event Commitments at any time exceed the lesser of Default (as hereinafter defined1) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, Loan Commitments then in effect and (2) the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Borrowing Base then in effect.

Appears in 1 contract

Samples: Credit Agreement (CFP Holdings Inc)

Revolving Loans. Subject to the terms and upon the provisions of conditions set forth herein, each Revolving Lender severally agrees to make Revolving Loans to theany Borrower in Dollars pursuant to this Agreement and relying upon the representations and warranties herein set forth, the Bank agrees at any time and Section 2.01(a) from time to time during the Revolving Availability Period in amounts such that its Revolving Outstandings shall not exceed (after giving effect to make loans (all Revolving Loans repaid, all reimbursements of L/C Disbursements made, and all Refunded Swing Line Loans paid concurrently with the making of any Revolving Loans) its Revolving Commitment; provided that, immediately after giving effect to each a “such Revolving Loan” or “Loan” , (i) the aggregate Revolving Outstandings shall not exceed the Revolving Committed Amount and collectively (ii) with respect to each Revolving Lender individually, such Lender’s outstanding Revolving Loans plus its (other than the Swing Line Lender’s in its capacity as such) Participation Interests in outstanding Swing Line Loans plus its Participation Interests in outstanding L/C Obligations shall not exceed such Lender’s Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier Commitment Percentage of the Revolving Credit Expiration Date Committed Amount; provided, further, that no more than the greater of (as hereinafter definedx) or $10,000,000 and (y) an amount sufficient to fund original issue discount and/or upfront fees in connection with the date Revolving Loans and the Term Loans may be drawn on which this revolving credit facility (the Closing Date. Each Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), Borrowing comprised of Eurodollar Loans shall be in an aggregate principal amount at of $5,000,000 or any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereoflarger multiple of $100,000, and the term “each Revolving Credit Amount” means the Borrowing comprised of Base Rate Loans shall be in an aggregate principal amount of $7,500,000 as 1,000,000 or any larger multiple of $100,000 (except (i) with respect to Revolving Loans, if any, borrowed on the Amendment No. 1 Effective Date and (ii) that any such amount Borrowing may be reduced at in the aggregate amount of the unused Revolving Commitments and any time and from time to time pursuant to this Agreement or as such amount L/C Borrowing may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall in the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice aggregate amount of any kind from, outstanding Unreimbursed Amounts owed to one or more L/C Issuers as provided in Section 2.05(e)(iv)) and shall be made from the Bankseveral Revolving Lenders ratably in proportion to their respective Revolving Commitments. Within the limitations set forth herein and subject foregoing limits, theeach Borrower may borrow under this Section 2.01(a), repay, or, to the provisions of this Agreementextent permitted by Section 2.09, the Borrowers may borrowprepay, repay Revolving Loans and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Section 2.01(a).

Appears in 1 contract

Samples: Credit Agreement (Jazz Pharmaceuticals PLC)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5A. The original amount of each Revolving Lender’s Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the original Revolving Credit Facility”) Loan Commitment Amount is terminated $275,000,000; provided that the amount of the Revolving Loan Commitment of each Revolving Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date. Amounts borrowed under this subsection 2.1A(i) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Amount then in effect.

Appears in 1 contract

Samples: Credit Agreement (Unified Grocers, Inc.)

Revolving Loans. Subject to the terms and upon the provisions conditions of this Agreement and relying in reliance upon the representations and warranties herein of the Loan Parties set forthforth in the Loan Documents, each Lender hereby severally agrees, subject to the Bank agrees at any limitations set forth below with respect to the maximum amount of Loans permitted to be outstanding from time and to time, to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Effective Date to but excluding the earlier of the Revolving Credit Expiration Commitment Termination Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount not at any time outstanding not to exceed exceeding such Lender's Pro Rata Share of the aggregate amount of the Revolving Credit Amount (as hereinafter definedCommitments to be used for the purposes identified in subsection 2.5A(i). As used hereinThe original amount of each Lender's Revolving Commitment is set forth opposite its name on Schedule 2.1 annexed hereto, and the term “aggregate original amount of the Revolving Credit Expiration Date” means November 1, 2013, as such date may Commitments is $80,000,000; provided that the Revolving Commitments of Lenders shall be changed or extended adjusted to give effect to any assignments of the Revolving Commitments pursuant to subsection 10.1B; and provided further that the amount of the Revolving Commitments shall be reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may any reductions thereto made pursuant to subsections 2.4A and 2.4B. Each Lender's Revolving Commitment shall expire on the Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be reduced at any time and from time to time paid in full no later than that date. Loans made by Lenders pursuant to this Agreement or subsection 2.1A are described herein as such amount "Revolving Loans." Amounts borrowed under this subsection 2.1A may be increased or decreased at any time repaid and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default reborrowed (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to compliance with Section 4) to but excluding the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Commitment Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Players International Inc /Nv/)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrowers from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Loan Commitments to be used for the purposes identified in subsection 2.5B. The amount of each Lender's Revolving Loan Commitment as of the Restatement Closing Date (is set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate amount of the Revolving Loan Commitments as hereinafter defined) or of the date on which this revolving credit facility (Restatement Closing Date is $40,000,000; provided that the Revolving Credit Facility”) is terminated Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). 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 that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to this but excluding the Revolving Loan Commitment Termination Date. For the avoidance of doubt, all Revolving Loans made and Letters of Credit issued under the Existing Credit Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to shall continue under this Agreement. In Anything contained in this Agreement to the contrary notwithstanding, in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Las Vegas Sands Inc)

Revolving Loans. Subject Each Lender with a Revolving Loan --------------- Commitment severally agrees, subject to the limitations set forth below with respect to the maximum amount of Revolving Loans permitted to be outstanding from time to time, to maintain such existing Revolving Loans and upon the provisions of this Agreement and relying upon the representations and warranties herein set forth, the Bank agrees at any time and to lend to Company from time to time during the period from July 1, 1998 to make loans (each a “but excluding the Revolving Loan” or “Loan” and collectively Loan Commitment Termination Date an aggregate amount which shall not exceed its Pro Rata Share of the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments, to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the ------------ Revolving Credit Facility”) Loan Commitments is terminated $175,000,000; provided that the Revolving Loan -------- Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; provided further, in an aggregate principal -------- ------- that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4B. 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 that date. Amounts borrowed under this subsection 2.1A(iv) may be reduced at any time repaid and from time reborrowed to time pursuant but excluding the Revolving Loan Commitment Termination Date. Notwithstanding anything contained herein to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In the contrary, in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Aurora Foods Inc /De/)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date on which this revolving credit facility (purposes identified in subsection 2.5B. The aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $75,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4B. Each Revolving Lender’s Revolving Loan Commitment shall expire immediately and without further action 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 that date; provided that each Revolving Lender’s Revolving Loan Commitment shall expire immediately and without further action on August 31, 2001 if the Term Loans have not been made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Lodgenet Entertainment Corp)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the original amount of the Revolving Credit Facility”) Loan Commitments is terminated $30,000,000; provided that the Revolving Loan Commitments of Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). Each Revolving 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action on December 11, 1997 if the Term Loans and the Initial Revolving Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time prepaid, repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to Commitments at any time exceed the provisions of this Agreement, this Revolving Credit Facility and the obligation lesser of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein Loan Commitments then in effect and (subject to subsection 2.4B(iii)(i)) the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”then applicable Borrowing Base.

Appears in 1 contract

Samples: Credit Agreement (Precision Engine Products Corp)

Revolving Loans. Prior to the Closing Date, revolving loans were previously made to the Borrower under the Original Credit Agreement which remain outstanding as of the date of this Agreement (such outstanding revolving loans being hereinafter referred to as the "ORIGINAL REVOLVING LOANS"). Subject to the terms and upon conditions set forth in this Agreement, the provisions Borrower and each of the Lenders agree that on the Closing Date, the Original Revolving Loans shall be reevidenced by this Agreement, the terms of the Original Revolving Loans shall be restated in their entirety and shall be evidenced by this Agreement. Upon the satisfaction of the conditions precedent set forth in Sections 5.1 and 5.2, from and including the date of this Agreement and relying upon prior to the representations Revolving Loan Termination Date, each Lender which has a Revolving Loan Commitment severally and warranties herein not jointly agrees, on the terms and conditions set forthforth in this Agreement, to make revolving loans to the Bank agrees at any time and Borrower from time to time, in Dollars, in an amount not to exceed such Lender's Revolving Loan Pro Rata Share of Revolving Credit Availability at such time (the Original Revolving Loans as reevidenced and restated by this Agreement and any such loans made pursuant to make loans (each this Section 2.2, being referred to individually as a “Revolving Loan” or “Loan” and "REVOLVING LOAN" and, collectively as the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier of "REVOLVING LOANS"); provided, however, at no time shall the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to Obligations exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant to Section 8.2 hereof, and the term “Maximum Revolving Credit Amount” means the amount of $7,500,000 as such amount may be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant Subject to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions terms of this Agreement, the Borrowers Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Original Revolving Loans and any Revolving Loans made on the Closing Date shall initially be Floating Rate Loans and thereafter may be continued as Floating Rate Loans or converted into Eurodollar Rate Loans in the manner provided in Section 2.10 and subject to the other conditions and limitations therein set forth and set forth in this Article II. On the Revolving Loan Termination Date, the Borrower shall repay in full the outstanding principal balance of the Revolving Loans. Each Advance under this Revolving Credit Facility. The fact that there may be no Section 2.2 shall consist of Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, made by each reference Lender which has a Revolving Loan Commitment ratably in proportion to a “Loan” or a “such Lender's respective Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Pro Rata Share.

Appears in 1 contract

Samples: Credit Agreement (Printpack Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees to purchase and upon assume Commitments under (and as defined in) the provisions Original Credit Agreement (and its pro rata share of this Agreement outstanding Loans thereunder as of the Restatement Date) in an amount equal to its Revolving Loan Commitment. Such purchased and relying upon assumed commitments and loans are hereby amended and restated in their entirety as Revolving Loan Commitments and Revolving Loans made in Dollars to Xxxxx-Xxxxxxxx and O-I Plastic, with the representations amount of each Revolving Loan Commitment to the Domestic Borrowers being set forth opposite such Lender's name on Schedule A annexed hereto, and warranties herein set forthwith the original aggregate amount of the Revolving Loan Commitments being $600,000,000; provided, that the Bank agrees at Revolving Loan Commitments of Lenders shall be adjusted to give effect to any time assignments of the Revolving Loan Commitments pursuant to subsection 10.2; and provided, further that the amount of the Revolving Loan Commitments shall be reduced from time to time by the amount of any reductions thereto made pursuant to subsection 2.4. From and after the Restatement Date, each Lender hereby severally agrees, subject to the limitations set forth below with respect to the maximum amount of Revolving Loans permitted to be outstanding from time to time, to make loans (each a “Revolving Loan” or “Loan” and collectively the “Revolving Loans” or “Loans”) Loans to the Domestic Borrowers from the date hereof until the earlier of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended from time to time pursuant during the period from and including the Restatement Date to Section 8.2 hereof, and but excluding the term “Revolving Credit Amount” means Loan Commitment Termination Date in an aggregate amount in Dollars at any one time outstanding not exceeding its Pro Rata Share of the aggregate amount of $7,500,000 as such amount may the Revolving Loan Commitments to be reduced at any time used for the purposes and from time subject to time pursuant to this Agreement or as such amount may be increased or decreased at any time the limitations identified in subsections 2.5A and from time to time pursuant to this Agreement. 2.5B. In no event shall the Bank be obligated aggregate principal amount of the Revolving Loans to make a the Domestic Borrowers from any Lender outstanding at any time exceed its Revolving Loan hereunder if an Event of Default (as hereinafter defined) Commitment then in effect. Each Lender's Revolving Loan Commitment shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate expire on the Revolving Credit Expiration Loan Commitment Termination Date without further action by, or notice of any kind fromand 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 that date. Amounts borrowed under this subsection 2.1A(iii) may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement to the contrary notwithstanding, the Bank. Within Revolving Loans and the limitations set forth herein and Revolving Loan Commitments shall be subject to the provisions limitation that in no event shall (i) the Total Utilization of this Agreement, Revolving Loan Commitments at any time exceed (ii) the Borrowers may borrow, repay and reborrow under this Revolving Credit FacilityLoan Commitments then in effect. The fact that there may be no Revolving Loans outstanding at (other than (y) Revolving Loans made for the purpose of reimbursing any particular time shall not affect Issuing Lender for the continuing validity amount of this Agreement. For the purposes a drawing honored under a Letter of this AgreementCredit issued by it, each reference to a “Loan” or a “Revolving Loan” which shall be deemed in the amount of such drawing so honored, or (z) Revolving Loans made for the purpose of repaying the Domestic Overdraft Amount, which shall be in an amount equal to also refer to a “Letter the Domestic Overdraft Amount) made on any Funding Date shall be in an aggregate minimum amount of Credit”$5,000,000 and integral multiples of $1,000,000, in excess of that amount.

Appears in 1 contract

Samples: Secured Credit Agreement (Oi Levis Park STS Inc)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $25,000,000; provided that the Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B(ii) and 2.4B(iii). 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 that date; provided that each Lender's Revolving Loan Commitment shall expire immediately and without further action on November 15, 1996 if the AXELs are not made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitations that (i) in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein Loan Commitments then in effect and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be (ii) no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”made on the Closing Date.

Appears in 1 contract

Samples: Credit Agreement (Prime Succession Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsections 2.5A and 2.5B. The original amount of each Revolving Lender’s Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the original Revolving Credit Facility”) Loan Commitment Amount is terminated $65,000,000; provided that the amount of the Revolving Loan Commitment of each Revolving Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4B. Each Revolving 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 that date; provided that each Revolving Lender’s Revolving Loan Commitment shall expire immediately and without further action at the close of business in New York City on December 3, 2004 if the Term Loans are not made on or before that date. Amounts borrowed under this subsection 2.1A(ii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Amount then in effect.

Appears in 1 contract

Samples: Credit Agreement (Propex International Holdings II Inc.)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until first Business Day after the earlier Effective Date up to but excluding the Revolving Loan Commitment Termination Date, an aggregate amount not exceeding such Revolving Lender’s Pro Rata Share of the aggregate amount of the then available Revolving Loan Commitments, all such Loans to be used for the purposes identified in Section 2.5(a). The original amount of each Revolving Xxxxxx’s Revolving Loan Commitment is set forth opposite its name on a schedule held by Administrative Agent and the original Revolving Loan Commitment Amount is $150,000,000; provided that the amount of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Loan Commitment of each Revolving Credit Facility”) is terminated Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may 9.1(b) and shall be changed or extended reduced from time to time by the amount of any reductions thereto made pursuant to Section 8.2 hereof, 2.4. Each Revolving Xxxxxx’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 term “Revolving Credit Amount” means the amount of $7,500,000 as such amount Loan Commitments shall be paid in full no later than that date. Amounts borrowed under this Section 2.1(a)(ii) may be reduced at any time repaid and from time reborrowed up to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitment Amount then in effect.

Appears in 1 contract

Samples: Credit Agreement (U.S. Silica Holdings, Inc.)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions --------------- limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The original amount of each Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original ------------ amount of the Revolving Credit Facility”) Loan Commitments is terminated $100,000,000; provided that the -------- Revolving Loan Commitments of Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan -------- ------- Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may be reduced at any time and from time to time reductions thereto made pursuant to this Agreement or as such amount may be increased or decreased at any time subsections 2.4B(ii) and from time to time pursuant to this Agreement2.4B(iii). In no event shall the Bank be obligated to make a Each Lender's Revolving Loan hereunder if an Event of Default (as hereinafter defined) Commitment shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate expire on the Revolving Credit Expiration 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 that date; provided that -------- each Lender's Revolving Loan Commitment shall expire immediately and without further action byon February 16, 1998 if the Tranche A Term Loans are not made on or notice before that date. Amounts borrowed under this subsection 2.1A(ii) which are not Acquisition Loans may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. All Acquisition Loans borrowed under this subsection 2.1A(ii) and subsequently repaid or prepaid may not be reborrowed (and the Revolving Loan Commitments shall be reduced by the principal amount of any kind fromAcquisition Loans borrowed). Anything contained in this Agreement to the contrary notwithstanding, the Bank. Within Revolving Loans and the limitations set forth herein and Revolving Loan Commitments shall be subject to the provisions of this Agreement, following limitations in the Borrowers may borrow, repay amounts and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect during the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”.periods indicated:

Appears in 1 contract

Samples: Credit Agreement (Sealy Corp)

Revolving Loans. Subject Each Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon Revolving Loans permitted to be outstanding from time to time, to lend to the representations and warranties herein set forth, the Bank agrees at any time and Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (Loan Commitments, to be used for the purposes identified in subsection 2.5A or B, as hereinafter defined) or applicable, including, without limitation, the date Initial Revolving Loans on which this revolving credit facility (the Closing Date. The original amount of each Lender's Revolving Credit Facility”) Loan Commitment is terminated set forth opposite its name on Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Loan Commitments is $50,000,000; provided that the Revolving Loan Commitments of the Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal subsection 10.1B; provided further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsections 2.4B. 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 that date. Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed, subject to time pursuant the limitations and conditions set forth herein, to this Agreement or as such amount may be increased or decreased at any time and from time but excluding the Revolving Loan Commitment Termination Date. Notwithstanding anything contained herein to time pursuant to this Agreement. In the contrary, in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on Commitments at any time exceed the Revolving Credit Expiration Date without further action by, or notice of any kind from, the Bank. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Loan Commitments then in effect.

Appears in 1 contract

Samples: Credit Agreement (Wellman North America Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount in Dollars not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date on which this revolving credit facility (purposes identified in subsection 2.5B. The original amount of each Revolving Lender’s Revolving Loan Commitment will be set forth in an allocation letter delivered to such Lender and the original Revolving Credit Facility”) Loan Commitment Amount is terminated $700,000,000; provided that the amount of the Revolving Loan Commitment of each Revolving Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may subsection 10.1B and shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount any reductions thereto made pursuant to subsection 2.4. Each Revolving 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 that date. Amounts borrowed under this subsection 2.1A(iii) may be reduced at any time repaid and from time reborrowed to time pursuant to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement or as such amount may to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be increased or decreased at any time and from time subject to time pursuant to this Agreement. In the limitation that in no event shall the Bank be obligated to make a Total Utilization of Revolving Loan hereunder if an Event Commitments at any time exceed the Revolving Loan Commitments then in effect. In addition, for purposes of Default (as hereinafter defined) determining the amount available under the Revolving Loan Commitments, Administrative Agent shall have occurred and be continuing. Unless sooner terminated pursuant assume that the aggregate outstanding principal amount of Swing Line Loans of any Swing Line Lender other than Xxxxx Fargo is equal to the provisions of this Agreement, this Revolving Credit Facility and the obligation aggregate amount of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice Swing Line Loan Commitment of any kind from, the Banksuch other Swing Line Lender. Within the limitations set forth herein and subject to the provisions Table of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”.Contents

Appears in 1 contract

Samples: Security Agreement (Urs Corp /New/)

Revolving Loans. Subject to the terms and upon the provisions of this Agreement conditions hereof and relying in reliance upon the representations and warranties herein set forthforth herein, the Bank each Revolving Loan Lender severally agrees at any time and from time to time to make revolving loans (each a “Revolving Loan” or “Loan” and collectively the “Revolving Loans” or “Loans”) to the Borrowers from the date hereof until the earlier of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs), in an aggregate principal amount at any time outstanding not to exceed the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may be changed or extended Borrower from time to time during the Revolving Loan Availability Period in an aggregate amount up to its Pro Rata Share of the Revolving Loan Commitments, but not exceeding its Revolving Loan Commitment. The amount of each Revolving Loan Lender’s Revolving Loan Commitment as of the Closing Date is set forth opposite its name on Schedule 2.1 hereto and the aggregate amount of the Revolving Loan Commitments as of the Closing Date is as set forth on Schedule 2.1; provided that the Revolving Loan Commitments of the applicable Revolving Loan Lenders shall be adjusted to give effect to any assignments of such Revolving Loan Lender’s Revolving Loan Commitments pursuant to Section 8.2 hereof9.1; and provided, and the term “Revolving Credit Amount” means further that the amount of $7,500,000 as such amount may the Revolving Loan Commitments shall be reduced at any time and from time to time by the amount of any reductions thereto made pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this AgreementSection 2.5. In no event shall the Bank be obligated to make a Each Revolving Loan hereunder if an Event of Default (as hereinafter defined) Lender’s Revolving Loan Commitments shall have occurred expire immediately and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate on the Revolving Credit Expiration Date without further action by, or notice at the expiration of any kind from, the BankRevolving Loan Availability Period and no Revolving Loans shall be made after such date. Within the limitations set forth herein and subject to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow Revolving Loans borrowed under this Revolving Credit Facility. The fact that there Section 2.1.A(iii) and subsequently repaid or prepaid may be no reborrowed during the Revolving Loan Availability Period; provided, however, that the aggregate principal amount of the Revolving Loans outstanding at any particular time shall not affect time, when added to the continuing validity aggregate amount of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Credit Obligations, may not exceed the aggregate amount of the Revolving Loan Commitments.

Appears in 1 contract

Samples: Credit Agreement (Switch & Data Facilities Company, Inc.)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject --------------- to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Company from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments to be used for the date purposes identified in subsection 2.5B. The Revolving Loans are the joint and several obligations of the Borrowers. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Revolving Credit Facility”) Loan Commitments is terminated $20,000,000; provided that the Revolving Loan Commitments of Lenders -------- shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 10.1B; and provided, in an aggregate principal further that the -------- amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may be reduced at any time and from time to time reductions thereto made pursuant to this Agreement or as such amount may be increased or decreased at any time subsections 2.4B(ii) and from time to time pursuant to this Agreement2.4B(iii). In no event shall the Bank be obligated to make a Each Revolving Lender's Revolving Loan hereunder if an Event of Default (as hereinafter defined) Commitment shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate expire on the Revolving Credit Expiration 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 that date; provided that each Revolving Lender's Revolving Loan -------- Commitment shall expire immediately and without further action byon January 31, 1999 if the Term Loans and any initial Revolving Loans are not made on or notice of any kind frombefore that date. Amounts borrowed under this subsection 2.1A(ii) may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Anything contained in this Agreement to the contrary notwithstanding, the Bank. Within Revolving Loans and the limitations set forth herein and Revolving Loan Commitments shall be subject to the provisions of this Agreement, following limitations in the Borrowers may borrow, repay amounts and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect during the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”.periods indicated:

Appears in 1 contract

Samples: Credit Agreement (Digitas Inc)

Revolving Loans. Subject Each Revolving Lender severally agrees, subject to and upon the provisions limitations set forth below with respect to the maximum amount of this Agreement and relying upon the representations and warranties herein set forthRevolving Loans permitted to be outstanding from time to time, the Bank agrees at any time and to lend to Borrowers from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof until Closing Date to but excluding the earlier Revolving Loan Commitment Termination Date an aggregate amount in Dollars not exceeding its Pro Rata Share of the aggregate amount of the Revolving Credit Expiration Date (as hereinafter defined) or Loan Commitments, such Loans to be used for the date purposes identified in subsection 2.5B. The original amount of each Revolving Lender's Revolving Loan Commitment is set forth opposite its name on which this revolving credit facility (Schedule 2.1 annexed hereto and the aggregate original amount of the Dollar Equivalent of the Revolving Credit Facility”) Loan Commitments is terminated $75,000,000; provided that the Revolving Loan Commitments of the Revolving Lenders shall be adjusted to give effect to any assignments of the Revolving Loan Commitments pursuant to Section 7.1 hereof (whichever first occurs)subsection 11.1B; and provided, in an aggregate principal further that the amount at any time outstanding not to exceed of the Revolving Credit Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as such date may Loan Commitments shall be changed or extended reduced from time to time pursuant to Section 8.2 hereof, and the term “Revolving Credit Amount” means by the amount of $7,500,000 as such amount may be reduced at any time and from time to time reductions thereto made pursuant to this Agreement or as such amount may be increased or decreased at any time subsections 2.4B(ii) and from time to time pursuant to this Agreement2.4B(iii). In no event shall the Bank be obligated to make a Each Revolving Lender's Revolving Loan hereunder if an Event of Default (as hereinafter defined) Commitment shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank to make Revolving Loans hereunder shall automatically terminate expire on the Revolving Credit Expiration 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 that date; provided that each Revolving Lender's Revolving Loan Commitment shall expire immediately and without further action byon August 28, 1998, if the Term Loans are not made on or notice of any kind frombefore that date. Amounts borrowed under this subsection 2.1A(ii) may be repaid and reborrowed to but excluding the Revolving Loan Commitment Termination Date. Revolving Loans shall be available in Dollars and/or in an Offshore Currency, the Bankbut Revolving Loans made as Offshore Currency Loans shall be funded only as provided in subsection 2.1A(iii). Within the limitations set forth herein and subject Anything contained in this Agreement to the provisions of this Agreement, the Borrowers may borrow, repay and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”.contrary notwithstanding:

Appears in 1 contract

Samples: Credit Agreement (Manufacturers Services LTD)

Revolving Loans. Subject to Each Revolving Lender severally agrees, on --------------- the terms and upon the provisions of this Agreement and relying upon the representations and warranties herein conditions hereinafter set forth, to make loans (each, a "REVOLVING LOAN" and, -------------- -49- collectively, the Bank agrees at any time and "REVOLVING LOANS") to the Borrower from time to time to make loans (each a “Revolving Loan” or “Loan” and collectively on --------------- any Business Day during the “Revolving Loans” or “Loans”) to the Borrowers period from the date hereof Closing Date until the earlier Revolving Commitment Termination Date by way of the Revolving Credit Expiration Date (as hereinafter defined) or the date on which this revolving credit facility (the “Revolving Credit Facility”) is terminated pursuant to Section 7.1 hereof (whichever first occurs)Prime Rate Loans, Base Rate Loans, Eurodollar Rate Loans and BA Loans in an aggregate principal amount at any time outstanding for each such Revolving Loan not to exceed the lesser of (i) such Lender's Unused Revolving Credit Commitment on such Business Day (after giving effect to any repayment of Swing Line Loans made or to be made with the proceeds thereof pursuant to a designation therefor set forth by the Borrower in a Notice of Borrowing for such Borrowing or pursuant to a Notice of Borrowing given by the Administrative Agent in accordance with Section 2.02(f)) and (ii) such Lender's Revolving Pro Rata Share of the remainder of (x) the Borrowing Base Amount (as hereinafter defined). As used herein, the term “Revolving Credit Expiration Date” means November 1, 2013, as of such date may minus (y) the sum of (A) the then outstanding ----- Letter of Credit Obligations and (B) the then outstanding Swing Line Loans; provided, however, that (1) the foregoing clause (ii) shall not limit any -------- ------- Lender's obligations under Section 2.02(f), and (2) except with respect to a Borrowing the proceeds of which will be changed applied to repay outstanding Swing Line Loans or extended from time reimburse Letter of Credit Drawings pursuant to time a designation therefor set forth by the Borrower in a Notice of Borrowing for such Borrowing or pursuant to a Notice of Borrowing given by the Administrative Agent pursuant to Section 8.2 hereof2.02(f), the Borrower shall not request, and the term “Revolving Credit Amount” means the amount of $7,500,000 as such amount may no Lender shall be reduced at any time and from time to time pursuant to this Agreement or as such amount may be increased or decreased at any time and from time to time pursuant to this Agreement. In no event shall the Bank be obligated to make a Revolving Loan hereunder if an Event of Default (as hereinafter defined) shall have occurred and be continuing. Unless sooner terminated pursuant to the provisions of this Agreement, this Revolving Credit Facility and the obligation of the Bank required to make Revolving Loans hereunder in respect of, any Borrowing if after giving effect thereto the aggregate principal amount of all outstanding Revolving Loans would exceed the remainder of (x) the Borrowing Base Amount at such time minus (y) the sum of (A) the then ----- outstanding Letter of Credit Obligations and (B) the greater of the aggregate Swing Line Commitment in effect at such time and the aggregate principal amount of all outstanding Swing Line Loans at such time. Each Revolving Borrowing of Eurodollar Rate Loans shall automatically terminate on be in an aggregate amount of US$1,000,000 or an integral multiple of US$100,000 in excess thereof and each Revolving Borrowing of Base Rate Loans shall be in an aggregate amount of US$500,000 or an integral multiple of US$100,000 in excess thereof. Each Revolving Borrowing of BA Loans shall be in an aggregate amount of CDN$1,000,000 or an integral multiple of CDN$100,000 in excess thereof and each Revolving Borrowing of Prime Rate Loans shall be in an aggregate amount of CDN$500,000 or an integral multiple of CDN$100,000 in excess thereof. Each Revolving Borrowing shall consist of Revolving Loans made by the Revolving Credit Expiration Date without further action by, or notice of any kind from, the BankLenders ratably according to their respective Revolving Commitments. Within the limitations set forth herein and subject to the provisions of this Agreementforegoing limits, the Borrowers Borrower may borrowborrow under this Section 2.01(c), repay prepay pursuant to Section 2.04 and reborrow under this Revolving Credit Facility. The fact that there may be no Revolving Loans outstanding at any particular time shall not affect the continuing validity of this Agreement. For the purposes of this Agreement, each reference to a “Loan” or a “Revolving Loan” shall be deemed to also refer to a “Letter of Credit”Section 2.01(c).

Appears in 1 contract

Samples: Credit Agreement (Panolam Industries Inc)

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