Supplemental Revolving Loans Sample Clauses

Supplemental Revolving Loans. Each Supplemental Revolving Lender severally, and for itself alone, agrees, on the terms and subject to the conditions hereinafter set forth and in reliance upon the representations and warranties set forth herein and in the other Loan Documents, to continue to make loans to the Borrower on a revolving basis from time to time from and after the Restatement Date to, but not including, the Supplemental Revolver Termination Date, in its Supplemental Revolving Loan Pro Rata Share of such aggregate amount as the Borrower may request, but not exceeding in an aggregate principal amount at any one time outstanding the applicable Supplemental Revolving Loan Commitment of such Supplemental Revolving Lender at such time. The Borrower and the Supplemental Revolving Lenders acknowledge the making of the Supplemental Revolving Loans which are outstanding on the Restatement Date in accordance with the terms of the Existing Credit Agreement and agree that such Supplemental Revolving Loans shall continue to be outstanding pursuant to the terms and conditions of this Agreement and the other Loan Documents. Prior to the Supplemental Revolver Termination Date, Supplemental Revolving Loans may be repaid and reborrowed by the Borrower in accordance with the provisions hereof.
Sample 1Sample 2
AutoNDA by SimpleDocs
Supplemental Revolving Loans. In the event that (A) any Lender fails to make its Pro Rata Share of any properly requested Pro Rata Revolving Loan on or before 9:00 a.m. (Seattle time) on the date of any requested borrowing, and (B) Agent determines in good faith that such Lender's failure to make its Pro Rata Share of such Pro Rata Revolving Loan constitutes a violation of such Lender's commitment to lend under this Agreement, then Agent shall promptly notify Borrower and each Lender of such determination. In each such case, Borrower shall have the right, notwithstanding the notice requirement set forth in Section 2.2, to give telephonic notice to Agent requesting that each of the Lenders (other than the Lender whose failure to lend gave rise to such notice), make a supplemental revolving loan in an amount equal to the amount of such Lender's Adjusted Pro Rata Share of the Non- Funding Lender's Pro Rata Share of the initially requested Pro Rata Revolving Loan, provided that, after giving effect to such supplemental revolving loan (a) the aggregate of all Revolving Loans outstanding from such Funding Lender will not exceed such Funding Lender's Pro Rata Share of the Commitment; and (b) the aggregate of all Revolving Loans outstanding from such Funding Lender will not exceed such Funding Lender's Pro Rata Share of the Available Amount. Each such supplemental revolving loan shall be referred to in this Agreement as a "Supplemental Revolving Loan." Each Supplemental Revolving Loan shall be a Prime Rate Loan unless and until all or any portion of such Supplemental Revolving Loan has been converted to a LIBOR Loan pursuant to Section 2.5(b). In the event that a judicial determination is made that any Non-Funding Lender's failure to make its Pro Rata Share of any requested Pro Rata Revolving Loan constituted a breach of such Lender's commitment to lend under Section 2.1(a), then the Funding Lenders shall be entitled to repayment from such Non-Funding Lender of the unpaid principal amount of the Supplemental Revolving Loans that resulted from such Non-Funding Lender's breach, together with interest thereon at the Applicable Interest Rate (reduced by any amounts such Funding Lenders have already received in respect of such Supplemental Revolving Loans from Borrower) and such Non-Funding Lender shall, to the extent of such repayment, become a Funding Lender in respect of the amount of such repayment. The Revolving Loans described in Section 2.1(a) and in this Section 2.1(b) constitute a revolvin...
Sample 1
Supplemental Revolving Loans. (a) Borrower and Lender acknowledge the making of certain loans or advances (individually each a "Supplemental Revolving Loan" and collectively the "Supplemental Revolving Loans") by Lender to Borrower in an aggregate principal amount of $5,100,000 which are outstanding on the Second Amendment Effective Date in accordance with the terms of this Agreement and agree that, from and after the Second Amendment Effective Date, such Supplemental Revolving Loans shall continue to be outstanding pursuant to the terms and conditions of this Agreement. Subject to the terms and conditions of this Agreement and the Related Agreements, and in reliance upon the warranties of Borrower set forth herein and in the Related Agreements, Lender agrees to make such additional Supplemental Revolving Loans (the "Incremental Supplemental Revolving Loans") to the Borrower in the principal amount of up to $2,000,000 from time to time on or after the Second Amendment Effective Date and before the Termination Date as Borrower may from time to time request; provided, however, that the aggregate principal amount of all outstanding Supplemental Revolving Loans (including the Incremental Supplemental Revolving Loan) shall not exceed the Supplemental Revolving Credit Amount. Supplemental Revolving Loans (including the Incremental Supplemental Revolving Loan) may be repaid and, subject to the terms and conditions hereof, reborrowed to but not including the Termination Date unless the Credit is otherwise terminated as provided in this Agreement. (b) All Supplemental Revolving Loans (including the Incremental Supplemental Revolving Loan) hereunder shall be paid by Borrower on the Termination Date, unless payable sooner pursuant to the provisions of this Agreement, but may, at Borrower's election, be repaid in whole or in part at any time prior to such date without premium or penalty. (k) Section 5.1.3 of the Loan Agreement is hereby amended by deleting such Section in its entirety and inserting the following in lieu thereof:
Sample 1
Supplemental Revolving Loans. Section 2.01(d) of the Credit Agreement is amended to delete in its entirety the proviso in the first sentence in such Section.
Sample 1
Supplemental Revolving Loans. (a) Subject to and upon the terms and conditions contained herein, Lender agrees to make Supplemental Revolving Loans to Borrower from time to time in amounts requested by Borrower, up to the amount at any one time outstanding equal to the Supplemental Revolving Loan Limit as then in effect. Borrower may not request Supplemental Revolving Loans, and Lender shall not make Supplemental Revolving Loans, except as Lender may otherwise determine, so long as there are any Revolving Loans available to Borrower under Section 2.1
Sample 1
Supplemental Revolving Loans. Subject to the terms and conditions set forth herein, each Lender agrees to make loans in dollars to any Borrower from time to time during the Supplemental Revolving Credit Availability Period in an aggregate principal amount that will not result in such Lender's Supplemental Revolving Credit Exposure to all Borrowers exceeding such Lender's Supplemental Revolving Commitment; provided that no Lender shall make any Supplemental Revolving Loan if, after giving effect to the making of such Supplemental Revolving Loan, the total Supplemental Revolving Credit Exposure of all Lenders then outstanding would exceed the Borrowing Base then in effect. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow Supplemental Revolving Loans.".
Sample 1
Supplemental Revolving Loans. Each Supplemental Revolving Lender severally, and for itself alone, agrees, on the terms and subject to the conditions hereinafter set forth and in reliance upon the representations and warranties set forth herein and in the other Loan Documents, to make loans to the Borrower on a revolving basis from time to time from and after the Restatement Date, in its Supplemental Revolving Loan Pro Rata Share of such aggregate amount as the Borrower may request, but not exceeding in an aggregate principal amount at any one time outstanding the applicable Supplemental Revolving Loan Commitment of such Supplemental Revolving Lender at such time. Prior to the Supplemental Revolver Termination Date, Supplemental Revolving Loans may be repaid and reborrowed by the Borrower in accordance with the provisions hereof. Supplemental Revolving Loans constituting Eurodollar Rate Loans shall only have Interest Periods of one month during the first ninety (90) days following the Restatement Date.
Sample 1
AutoNDA by SimpleDocs
Supplemental Revolving Loans. Upon the satisfaction of the conditions precedent set forth in Sections 4.1 and 4.2, and only so long as the Revolving Credit Availability shall be zero, from and including December 14, 2001 through but not including March 31, 2003 (or such earlier date as the Aggregate Supplemental Revolving Loan Commitment may be permanently reduced pursuant to Section 2.5A), each Lender severally and not jointly agrees, on the terms and conditions set forth in this Agreement, to make revolving loans, in Dollars only, to the applicable Borrower from time to time in an amount not to exceed such Lender's Supplemental Revolving Loan Commitment (each individually, a "SUPPLEMENTAL REVOLVING LOAN" and collectively, the "SUPPLEMENTAL REVOLVING LOANS"); provided, however, that at no time shall the aggregate Dollar Amount of the Supplemental Revolving Loans exceed the Dollar Amount of the Maximum Supplemental Revolving Credit Amount. Each Advance under this Section 2.2B shall consist of Supplemental Revolving Loans made by each Lender ratably in proportion to such
Sample 1

Related to Supplemental Revolving Loans

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • The Revolving Loans (a) Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Revolving Loans to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to such Lender in an aggregate outstanding amount not to exceed at any time such Lender’s Available Commitment at such time. Within the limits of each Lender’s Commitment and as hereinabove and hereinafter provided, including without limitation Section 2.01(b), the Borrower may request a Borrowing hereunder, and repay or prepay Revolving Loans pursuant to Section 2.14 and utilize the resulting increase in the Available Commitments for further Extensions of Credit in accordance with the terms hereof. (b) In no event shall the Borrower be entitled to request or receive any Borrowing that (i) would exceed the Available Commitments or (ii) would cause the Outstanding Credits to exceed the Commitments.

  • Revolving Loan Borrowings (i) Each Borrowing of Revolving Loans shall be made on notice given by a Borrower to the Revolving and LC Administrative Agent not later than 11:00 a.m. (New York time) (A) on the Business Day of the proposed Borrowing, in the case of a Borrowing of Base Rate Loans and (B) three Business Days prior to the date of the proposed Borrowing, in the case of a Borrowing of Eurodollar Rate Loans. Each such notice shall be in substantially the form of Exhibit C-2 (a “Notice of Revolving Borrowing”) (or shall be made by telephone and the same information shall be confirmed promptly thereafter in writing), specifying (1) the date of such proposed Borrowing, (2) the aggregate amount of such proposed Borrowing, (3) whether any portion of the proposed Borrowing will be of Base Rate Loans or Eurodollar Rate Loans, (4) the initial Interest Period or Interest Periods for any such Eurodollar Rate Loans, and (5) remittance instructions. The Revolving Loans shall be made as Base Rate Loans unless, subject to Section 2.17, the Notice of Revolving Borrowing specifies that all or a portion thereof shall be Eurodollar Rate Loans. Each Borrowing of Revolving Loans shall be in an aggregate amount that is an integral multiple of $1,000,000.00 (or $500,000.00 with respect to Swing Loans) and shall be allocated ratably in accordance with each Revolving Lender’s Revolving Commitment. (ii) Unless the Revolving and LC Administrative Agent shall have received notice from a Revolving Lender prior to the date of any proposed Borrowing that such Revolving Lender shall not make available to the Revolving and LC Administrative Agent such Revolving Lender’s Ratable Portion of the Borrowing to be made on such date (or any portion thereof), the Revolving and LC Administrative Agent may assume that such Revolving Lender has made such Ratable Portion available to the Revolving and LC Administrative Agent on the date of such Borrowing in accordance with this Section 2.2(b), and the Revolving and LC Administrative Agent may, in reliance upon such assumption, make available to the applicable Borrower on such date a corresponding amount. If and to the extent that such Revolving Lender shall not have so made such Ratable Portion available to the Revolving and LC Administrative Agent, such Revolving Lender on the one hand and the Borrowers, jointly and severally, on the other agree to repay to the Revolving and LC Administrative Agent forthwith on demand such corresponding amount together with interest thereon, for each day from the date such amount is made available to the Borrowers until the date such amount is repaid to the Revolving and LC Administrative Agent, at (i) in the case of the Borrowers, the interest rate applicable at the time to the Loans comprising such Borrowing and (ii) in the case of such Revolving Lender, the Federal Funds Rate for the first Business Day and thereafter at the interest rate applicable at the time to the Loans comprising such Borrowing. If such Revolving Lender shall repay to the Revolving and LC Administrative Agent such corresponding amount, such corresponding amount so repaid shall constitute such Revolving Lender’s Loan as part of such Borrowing for purposes of this Agreement. If the Borrowers shall repay to the Revolving and LC Administrative Agent such corresponding amount, such payment shall not relieve such Revolving Lender of any obligation it may have hereunder to the Borrowers. (iii) The failure of any Revolving Lender to make its Revolving Loan or any payment required by it on the date specified, including any payment in respect of its participation in Swing Loans and Revolving Letter of Credit Obligations, shall not relieve any other Revolving Lender of its obligations to make its Revolving Loan or payment on such date but no such other Revolving Lender shall be responsible for the failure of any Revolving Lender to make a Revolving Loan or payment required under this Agreement.

  • Making Revolving Credit Loans The Administrative Agent shall, promptly after receipt by it of a Loan Request pursuant to Section 2.5 [Revolving Credit Loan Requests; Swing Loan Requests], notify the Lenders of its receipt of such Loan Request specifying the information provided by the Borrower and the apportionment among the Lenders of the requested Revolving Credit Loans as determined by the Administrative Agent in accordance with Section 2.2 [Nature of Lenders’ Obligations with Respect to Revolving Credit Loans]. Each Lender shall remit the principal amount of each Revolving Credit Loan to the Administrative Agent such that the Administrative Agent is able to, and the Administrative Agent shall, to the extent the Lenders have made funds available to it for such purpose and subject to Section 7.2 [Each Loan or Letter of Credit], fund such Revolving Credit Loans to the Borrower in U.S. Dollars and immediately available funds at the Principal Office prior to 2:00 p.m., on the applicable Borrowing Date; provided that if any Lender fails to remit such funds to the Administrative Agent in a timely manner, the Administrative Agent may elect in its sole discretion to fund with its own funds the Revolving Credit Loans of such Lender on such Borrowing Date, and such Lender shall be subject to the repayment obligation in Section 2.6.2 [Presumptions by the Administrative Agent].

  • Revolving Loan Notes The Revolving Loans made by the Lenders to a Borrower shall be evidenced, upon request by any Lender, by a promissory note of such Borrower payable to each Lender in substantially the form of Exhibit 2.7(a) hereto (the “Revolving Loan Notes”) and in a principal amount equal to the amount of such Lender’s Commitment Percentage of the Revolving Loan Commitment as originally in effect.

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.

  • Repayment of Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Revolving Loans outstanding on such date.

  • The Revolving Credit Loans Subject to the terms and conditions set forth herein, each Revolving Credit Lender severally agrees to make loans (each such loan, a “Revolving Credit Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate principal amount not to exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any such Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility, and (ii) the Revolving Credit Exposure of any Lender shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

  • Term Loans (i) Subject to and upon the terms and conditions of this Agreement, (I) Borrower may request and Bank agrees to make one or more term loans to Borrower in an aggregate original principal amount not to exceed $2,000,000 (each a “Tranche A Term Loan” and collectively the “Tranche A Term Loans”) at any time from the Closing Date through the Availability End Date and (II) Borrower may request and Bank agrees to make one or more additional term loans to Borrower in an aggregate original principal amount not to exceed $2,000,000 (each a “Tranche B Term Loan” and collectively, the “Tranche B Term Loans” and together with the Tranche A Term Loans, each a “Term Loan” and collectively, the “Term Loans”) at any time from the date Borrower achieves the Tranche B Milestones through the Availability End Date. The proceeds of the Term Loans shall be used for general working capital purposes and for capital expenditures. (ii) Interest shall accrue from the date of each Term Loan at the rate specified in Section 2.3(a), and prior to the Availability End Date shall be payable monthly in arrears beginning on the 20th day of the month next following the such Term Loan, and continuing on the same day of each month thereafter. Any Term Loans that are outstanding on the Availability End Date shall be payable in equal monthly installments of principal, plus all accrued interest, beginning on the Amortization Start Date and continuing on the same day of each month thereafter through the Term Loan Maturity Date, at which time all amounts due in connection with the Term Loans and any other amounts due under this Agreement shall be immediately due and payable. Term Loans, once repaid, may not be reborrowed. Borrower may prepay any Term Loan in whole or in part without penalty or premium. (iii) When Borrower desires to obtain a Term Loan (other than the initial Term Loan), Borrower shall notify Bank (which notice shall be irrevocable) by facsimile transmission to be received no later than 3:30 p.m. Eastern time on the Business Day prior to the date on which the Term Loan is to be made. Such notice shall be substantially in the form of Exhibit C. The notice shall be signed by an Authorized Officer.

  • Term Loan Advances Subject to Section 2.5(b), the principal amount outstanding under each Term Loan Advance shall accrue interest at a floating per annum rate equal to two and three quarters of one percent (2.75%) above the Prime Rate, which interest shall be payable monthly in accordance with Section 2.5(d) below.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!