Common use of Terms of Revolving Commitment Clause in Contracts

Terms of Revolving Commitment. On the terms and conditions hereinafter set forth, each Bank agrees severally to make Advances to Borrower from time to time during the period beginning on the Effective Date and ending on the Maturity Date in such amounts as Borrower may request up to an amount not to exceed, in the aggregate principal amount outstanding at any time, the Revolving Commitment. Provided, however, that notwithstanding anything to the contrary contained herein, but subject to the right of Borrower under Section 9(b) hereof, the Total Outstandings, as of any date, shall never exceed the lesser of (i) $100,000,000.00, or (ii) the Borrowing Base. The obligation of each Bank to make Advances under the Revolving Commitment shall be limited to such Bank's Commitment Percentage of such Advance. Notwithstanding any other provision of this Agreement, no Advance shall be required to be made hereunder if any Event of Default (as hereinafter defined) has occurred and is continuing or if any event or condition has occurred that may, with notice, be an Event of Default. Borrower shall have the option pursuant to Section 4 hereof to determine whether Advances hereunder shall be made as Prime Rate Loans or Eurodollar Loans; provided, however, that Borrower shall not have the option to elect a Eurodollar Loan at any time when less than $5,000,000 in Prime Rate Loans are outstanding. Each Advance made as a Prime Rate Loan shall be an aggregate amount of at least $100,000 or a whole number multiple thereof. Each Advance made as a Eurodollar Loan shall be in an aggregate amount of at least $250,000, or in integral multiples thereof. No more than two (2) Eurodollar tranches may be outstanding at any time.

Terms of Revolving Commitment. On the terms and conditions hereinafter set forth, each Bank agrees severally to make Advances to Borrower from time to time during the period beginning on the Effective Date and ending on the Maturity Date in such amounts as Borrower may request up to an amount not to exceed, in the aggregate principal amount outstanding at any time, the Revolving Commitment. Provided, however, that notwithstanding anything to the contrary contained herein, but subject to the right of Borrower under Section 9(b) hereof, the Total Outstandings, as of any date, shall never exceed the lesser of (i) $100,000,000.00, or (ii) the Borrowing Base. The obligation of each Bank to make Advances under the Revolving Commitment shall be limited to such Bank's Commitment Percentage of such Advance. Notwithstanding any other provision of this Agreement, no Advance shall be required to be made hereunder if any Event of Default (as hereinafter defined) has occurred and is continuing or if any event or condition has occurred that may, with notice, be an Event of Default. Borrower shall have the option pursuant to Section 4 hereof to determine whether Advances hereunder shall be made as Prime Base Rate Loans or Eurodollar Loans; provided, however, that Borrower shall not have the option to elect a Eurodollar Loan at any time when less than $5,000,000 in Prime Rate Loans are outstanding. Each Advance made as a Prime Rate Loan shall be an aggregate amount of at least $100,000 or a whole number multiple thereof. Each Advance made as a Eurodollar Loan shall be in an aggregate amount of at least $250,000, or in integral multiples thereof. No more than two (2) Eurodollar tranches may be outstanding at any time.

Terms of Revolving Commitment. On the terms and conditions hereinafter set forth, each Bank agrees severally to make Advances to Borrower from time to time during the period beginning on the Effective Date and ending on the Maturity Date in such amounts as Borrower may request up to an amount not to exceed, in the aggregate principal amount outstanding at any time, the Revolving Commitment. Provided, however, that notwithstanding anything to the contrary contained herein, but subject to the right of Borrower under Section 9(b) hereof, the Total Outstandings, as of any date, shall never exceed the lesser of (i) $100,000,000.00200,000,000.00, or (ii) the Borrowing Base. The obligation of each Bank to make Advances under the Revolving Commitment shall be limited to such Bank's ’s Commitment Percentage of such Advance. Notwithstanding any other provision of this Agreement, no Advance shall be required to be made hereunder if any Event of Default (as hereinafter defined) has occurred and is continuing or if any event or condition has occurred that may, with notice, be an Event of Default. Borrower shall have the option pursuant to Section 4 hereof to determine whether Advances hereunder shall be made as Prime Base Rate Loans or Eurodollar Loans; provided, however, that Borrower shall not have the option to elect a Eurodollar Loan at any time when less than $5,000,000 in Prime Rate Loans are outstanding. Each Advance made as a Prime Rate Loan shall be an aggregate amount of at least $100,000 or a whole number multiple thereof. Each Advance made as a Eurodollar Loan shall be in an aggregate amount of at least $250,000, or in integral multiples thereof. No more than two (2) Eurodollar tranches may be outstanding at any time.