Revolving Obligations Sample Clauses
The Revolving Obligations clause defines the terms under which a borrower can repeatedly draw, repay, and re-borrow funds up to a specified credit limit during the life of a loan agreement. In practice, this clause applies to revolving credit facilities, such as lines of credit, where the borrower may access funds as needed, repay them, and then borrow again, provided the total outstanding does not exceed the agreed limit. Its core function is to provide financial flexibility to the borrower, ensuring ongoing access to capital while managing the lender’s risk exposure.
Revolving Obligations. If at any time (A) the aggregate principal amount of Revolving Obligations shall exceed the Aggregate Revolving Committed Amount, (B) the aggregate principal amount of Swingline Loans shall exceed the Swingline Committed Amount, (C) the aggregate principal amount of LOC Obligations shall exceed the Letter of Credit Sublimit or (D) the Administrative Agent notifies the Borrower Representative that the Outstanding Amount of all Loans denominated in Alternative Currencies at such time exceeds an amount equal to 105% of the Alternative Currency Sublimit then in effect, then in any such instance, the Borrowers shall immediately make payment on the Revolving Loans and/or to a cash collateral account in respect of LOC Obligations in an amount sufficient to eliminate the difference; provided that the Borrowers may, with respect to clauses (B) and (C) above, utilize a borrowing of Revolving Loans to the extent the conditions of Section 5.2 are satisfied for such payment or cash collateral if the incurrence of such Revolving Loans would not cause the aggregate principal amount of Revolving Obligations to exceed the Aggregate Revolving Committed Amount.
Revolving Obligations. If at any time (A) the aggregate principal amount of Revolving Loans shall exceed the Aggregate Revolving Loan Committed Amount, (B) the aggregate principal amount of LOC Obligations shall exceed the LOC Committed Amount, (C) the aggregate principal amount of Swingline Loans shall exceed the Swingline Committed Amount or (D) the aggregate principal amount of Revolving Obligations shall exceed the Aggregate Committed Amount, the Borrower shall immediately make payments on the Revolving Obligations (including, if necessary, payments to a cash collateral account in respect of the LOC Obligations) in an amount equal to the excess.
Revolving Obligations. The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Revolving Commitment Percentage of the Aggregate Revolving Commitments, an unused fee equal to the Applicable Percentage multiplied by the actual daily amount by which the Aggregate Revolving Commitments exceed the Outstanding Amount of Revolving Obligations (excluding, for purposes hereof, the aggregate principal amount of Swing Line Loans outstanding). The unused fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article V is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date, and on the Termination Date. The unused fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Percentage during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Percentage separately for each period during such quarter that such Applicable Percentage was in effect.
Revolving Obligations. Use proceeds of the Revolving Obligations to (i) refinance existing Indebtedness, (ii) finance, in part, the Triumph Acquisition and fees and expenses incurred in connection therewith, and (iii) finance working capital needs (including capital expenditures) and general corporate purposes not prohibited by the terms hereof (including acquisitions and investments permitted hereunder and capital expenditures).
Revolving Obligations. If at any time (A) the aggregate principal amount of Revolving Obligations shall exceed the Aggregate Revolving Committed Amount, (B) the aggregate principal amount of Swingline Loans shall exceed the Swingline Committed Amount, (C) the aggregate principal amount of LOC Obligations shall exceed the Letter of Credit Sublimit or (D) the Administrative Agent notifies the Borrower Representative that the Outstanding Amount of all Loans denominated in Alternative Currencies at such time exceeds an amount equal to 105% of the Alternative Currency Sublimit then in effect, then in any such instance, the Borrowers shall immediately make payment on the Revolving
Revolving Obligations. If for any reason the Revolving Obligations at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall immediately prepay Revolving Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b) unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Revolving Obligations exceed the Aggregate Revolving Commitments then in effect. From time to time after the initial deposit of such cash collateral with respect to the L/C Obligations, the Administrative Agent may, in its reasonable discretion, require additional cash collateral to be provided in order to protect against the results of exchange rate fluctuations.
Revolving Obligations. See (S)20.1 hereof. --------------------- Risk Participation Fee. See (S)6.3.2. ---------------------- Same Day Funds. With respect to disbursements and payments in (a) Dollars, -------------- immediately available funds, and (b) an Optional Currency, same day or other funds as may be determined by the Foreign Agent to be customary in the place of disbursement or payment for the settlement of international banking transactions in the relevant Optional Currency.
Revolving Obligations. To secure the full payment and performance of all of the Revolving Obligations when due, Borrower hereby grants to Lender a continuing security interest in all of the following described property of Borrower, whether tangible or intangible, now owned or in existence or hereafter acquired or arising, wherever located, whether or not eligible for lending purposes: (i) all Accounts; (ii) to the extent relating to such Accounts, all Chattel Paper, Instruments, Documents, General Intangibles; Deposit Accounts and money relating to such Accounts, (iii) all proceeds and products of all of the foregoing (including proceeds of any insurance policies, proceeds of proceeds and claims against third parties for loss or any destruction of any of the foregoing) and (iv) all books and records relating to any of the foregoing.