Common use of The Advances Clause in Contracts

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 4 contracts

Samples: Credit Agreement, Credit Agreement, Credit Agreement

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The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate RateTerm Benchmark Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such LenderXxxxxx’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such BorrowerXxxxxxxx, would exceed such BorrowerXxxxxxxx’s Borrower Sublimit. For the avoidance of doubt, the making of, or Conversion into, RFR Advances, shall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 3 contracts

Samples: Credit Agreement (Firstenergy Corp), Credit Agreement (Firstenergy Corp), Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars U.S. dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, Commitment and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.10 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total aggregate principal amount of all Outstanding Credits Advances outstanding to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 2 contracts

Samples: Year Credit Agreement (Jersey Central Power & Light Co), Credit Agreement (Jersey Central Power & Light Co)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the latest Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.11 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any a Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 2 contracts

Samples: Credit Agreement (FirstEnergy Solutions Corp.), Credit Agreement (FirstEnergy Solutions Corp.)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars U.S. dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, Commitment and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.11 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 2 contracts

Samples: Credit Agreement (Jersey Central Power & Light Co), Year Credit Agreement (Jersey Central Power & Light Co)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such LenderXxxxxx’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 2 contracts

Samples: Credit Agreement (FirstEnergy Transmission, LLC), Credit Agreement

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower denominated in Dollars only to the Borrower from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such LenderLender then in effect; provided that the Lenders shall not be obligated to, and shall not, make any Advances as part of a Borrowing if after giving effect to such Borrowing the sum of the then-outstanding aggregate amount of all Borrowings shall exceed the aggregate amount of the Commitments then in effect. Each Borrowing shall be in an aggregate amount not less than of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and thereof, except that any Borrowing may be in an amount equal to the remaining unused amount of the Commitments. Each Borrowing shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrowmay borrow under this Section 2.01, prepay pursuant to Section 2.12 2.10 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Walt Disney Co)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such LenderXxxxxx’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such BorrowerXxxxxxxx, would exceed such BorrowerXxxxxxxx’s Borrower Sublimit.

Appears in 1 contract

Samples: Credit Agreement

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Xxxx Xxxxxxxxx Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any the Borrower hereunder if (i) the amount of such Advance would exceed such LenderXxxxxx’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments Commitments. For the avoidance of doubt, the making of, or (iii) the amount of such AdvanceConversion into, together with all other Outstanding Credits for the account of such BorrowerRFR Advances, would exceed such Borrower’s Borrower Sublimitshall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Samples: Credit Agreement (FirstEnergy Transmission, LLC)

The Advances. 744221928 Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Samples: Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the latest Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.11 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any a Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Samples: Credit Agreement

The Advances. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make one or more Advances to each Borrower in Dollars only the Borrowers from time to time on any Business Day during the period from the date hereof Effective Date until the such Bank’s Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available amount equal to (a) such Bank’s Commitment minus (b) such Bank’s Ratable Portion of such Lender. Each Borrowing outstanding Letter of Credit Liabilities; provided that, no Advance shall be required to be made, except as part of a Borrowing that is in an aggregate amount not less than $5,000,000 or an 10,000,000 (and in integral multiple multiples of $1,000,000 in excess thereof thereof), and each Borrowing shall consist of Advances of the same Type and, having (in the case of Eurodollar Rate a Borrowing comprised of LIBOR Advances, having ) the same Interest Period Period, made or Converted on the same day by the Lenders Banks ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereofpreceding sentence, each Borrower the Borrowers may from time to time borrow, prepay pursuant to Section 2.12 2.09 and reborrow under this Section 2.01; provided2.01 until the Termination Date applicable to each Bank, that but in no case shall event will any Lender Bank be required obligated to make an Advance to any Borrower hereunder Advance, if (i) the amount of such Advance plus all other Advances owed to such Bank plus such Bank’s Ratable Portion of the Letter of Credit Liabilities would exceed such Lender’s Available its Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Samples: Credit Agreement (Ensco PLC)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only from time to time on any Business Day during the period from the date hereof Funding Availability Date until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Xxxx Xxxxxxxxx Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any the Borrower hereunder if (i) the amount of such Advance would exceed such LenderXxxxxx’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments Commitments. For the avoidance of doubt, the making of, or (iii) the amount of such AdvanceConversion into, together with all other Outstanding Credits for the account of such BorrowerRFR Advances, would exceed such Borrower’s Borrower Sublimitshall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Samples: Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay 744222473 pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Samples: Credit Agreement (Firstenergy Corp)

The Advances. 744224750 Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Samples: Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during 753190870 the period from the date hereof until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate RateTerm Benchmark Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such LenderXxxxxx’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such BorrowerXxxxxxxx, would exceed such BorrowerXxxxxxxx’s Borrower Sublimit. For the avoidance of doubt, the making of, or Conversion into, RFR Advances, shall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Samples: Credit Agreement (Firstenergy Corp)

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The Advances. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make one or more Advances to each Borrower in Dollars only the Borrowers from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available amount equal to (a) its Ratable Portion of the Commitment Availability minus (b) such Bank's Ratable Portion of such Lender. Each Borrowing outstanding Letter of Credit Liabilities; provided that, no Advance shall be required to be made, except as part of a Borrowing that is in an aggregate amount not less than $5,000,000 or an 10,000,000 (and in integral multiple multiples of $1,000,000 in excess thereof thereof), and each Borrowing shall consist of Advances of the same Type and, having (in the case of Eurodollar Rate a Borrowing comprised of LIBOR Advances, having ) the same Interest Period Period, made or Converted on the same day by the Lenders Banks ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereofpreceding sentence, each Borrower the Borrowers may from time to time borrow, prepay pursuant to Section 2.12 2.09 and reborrow under this Section 2.01; provided2.01 until the Termination Date, that but in no case shall event will any Lender Bank be required obligated to make an Advance to any Borrower hereunder Advance, if (i) the amount of such Advance plus all other Advances owed to such Bank plus such Bank's Ratable Portion of the Letter of Credit Liabilities would exceed such Lender’s Available Commitment, its Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with Advance plus all other Outstanding Credits for the account Advances owed to all Banks plus all Letter of such Borrower, Credit Liabilities then outstanding would exceed such Borrower’s Borrower Sublimitthe Commitment Availability.

Appears in 1 contract

Samples: Ensco PLC

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate RateTerm Benchmark Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such LenderXxxxxx’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments Commitments. For the avoidance of doubt, the making of, or (iii) the amount of such AdvanceConversion into, together with all other Outstanding Credits for the account of such BorrowerRFR Advances, would exceed such Borrower’s Borrower Sublimitshall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Samples: Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only from time to time on any Business Day during the period from the date hereof until the latest Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.11 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any a Borrower hereunder if (i) the amount of such Advance would exceed such LenderXxxxxx’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such BorrowerXxxxxxxx, would exceed such BorrowerXxxxxxxx’s Borrower Sublimit.

Appears in 1 contract

Samples: Credit Agreement

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any the Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCommitments.

Appears in 1 contract

Samples: Credit Agreement (Firstenergy Corp)

The Advances. (a) Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only the Borrowers from time to time on any Business Day during the period from the date hereof until the Termination day immediately preceding the Maturity Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment amount set opposite such Bank’s name on Schedule I hereto as such amount may be reduced or increased pursuant to Section 2.05 hereof (such Bank’s “Commitment”); provided, however, that (i) the Outstanding Credits of such Lenderthe Parent shall not exceed $400,000,000 at any time, (ii) the Outstanding Credits of UI shall not exceed $250,000,000 at any time, (iii) the Outstanding Credits of each of Southern Connecticut and Connecticut Gas shall not exceed $150,000,000 at any time, and (iv) the Outstanding Credits of Berkshire Gas shall not exceed $25,000,000 at any time; and provided further, the aggregate Outstanding Credits of all of the Borrowers shall not exceed the amount of the Commitments at any time. Each Base Rate Borrowing shall be in an integral multiple of $1,000,000, and each Eurodollar Rate Borrowing shall be in an aggregate amount not less than $5,000,000 5,000,000, or an integral multiple of $1,000,000 in excess thereof and thereof. Each Borrowing shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having Interest Periods of the same Interest Period duration, made or Converted on the same day to a single Borrower by the Lenders Banks ratably according to their respective Commitments. Within the limits of each LenderBank’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower Borrowers may from time to time borrow, repay, prepay pursuant to Section 2.12 and 2.11 hereof, reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) 2.01 and request the amount issuance of such Advance would exceed such Lender’s Available Commitment, (ii) the making Letters of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCredit under Section 2.03.

Appears in 1 contract

Samples: Credit Agreement (Uil Holdings Corp)

The Advances. (a) Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each Borrower in Dollars only the Borrowers from time to time on any Business Day during the period from the date hereof until the Termination day immediately preceding the Maturity Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available Commitment amount set opposite such Bank’s name on Schedule I hereto as such amount may be reduced or increased pursuant to Section 2.05 hereof (such Bank’s “Commitment”); provided, however, that (i) the Outstanding Credits of such Lenderthe Parent shall not exceed $400,000,000 at any time, (ii) the Outstanding Credits of UI shall not exceed $250,000,000 at any time, (iii) the Outstanding Credits of each of Southern Connecticut and Connecticut Gas shall not exceed $150,000,000 at any time, and (iv) the Outstanding Credit of Berkshire Gas shall not exceed $50,000,000 at any time; and provided further, the aggregate Outstanding Credits of all of the Borrowers shall not exceed the amount of the Commitments at any time. Each Base Rate Borrowing shall be in an integral multiple of $1,000,000, and each Eurodollar Rate Borrowing shall be in an aggregate amount not less than $5,000,000 5,000,000, or an integral multiple of $1,000,000 in excess thereof and thereof. Each Borrowing shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having Interest Periods of the same Interest Period duration, made or Converted on the same day to a single Borrower by the Lenders Banks ratably according to their respective Commitments. Within the limits of each LenderBank’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower Borrowers may from time to time borrow, repay, prepay pursuant to Section 2.12 and 2.11 hereof, reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) 2.01 and request the amount issuance of such Advance would exceed such Lender’s Available Commitment, (ii) the making Letters of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower SublimitCredit under Section 2.03.

Appears in 1 contract

Samples: Credit Agreement (Uil Holdings Corp)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only or Borrowing Subsidiary 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 amount not to exceed at any time outstanding the Available Commitment of amount set opposite such Lender’s name on Schedule I hereto, if such Lender has entered into an Assumption Agreement, set forth for such Lender in such Assumption Agreement or, if such Lender has entered into any Assignment and Assumption, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(c), as such amount may be reduced pursuant to Section 2.04 (such Lender’s “Commitment”). Each Borrowing shall be in an aggregate amount not less than $5,000,000 10,000,000 or an integral multiple of $1,000,000 in excess thereof (unless the aggregate amount of the unused Commitments is less than $10,000,000, in which case such Borrowing shall be equal to the aggregate amount of the NYDOCS01/1619389.2 unused Commitments) and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, and having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 2.09 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any Borrower hereunder if (i) the amount of such Advance would exceed such Lender’s Available Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Samples: Credit Agreement (Colgate Palmolive Co)

The Advances. Each Lender severally agrees, on the terms and conditions hereinafter set forth, to make Advances to each the Borrower in Dollars only 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 amount not to exceed at any time outstanding the Available Commitment of such Lender. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Term Benchmark Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each the Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01; provided, that in no case shall any Lender be required to make an Advance to any the Borrower hereunder if (i) the amount of such Advance would exceed such LenderXxxxxx’s Available Commitment, Commitment or (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments Commitments. For the avoidance of doubt, the making of, or (iii) the amount of such AdvanceConversion into, together with all other Outstanding Credits for the account of such BorrowerRFR Advances, would exceed such Borrower’s Borrower Sublimitshall only be applicable as set forth in Section 2.14 or Section 2.23.

Appears in 1 contract

Samples: Credit Agreement (Firstenergy Corp)

The Advances. Each Lender severally agrees, on Subject to Article 4 and the other terms ------------ and conditions hereinafter set forthof this Agreement, each Bank, severally but not jointly, hereby agrees to make Advances to each the Borrower in Dollars only from time to time on any Business Day during Day, through and including the period from the date hereof until the Commitment Termination Date applicable to such Lender in an aggregate principal amount not to exceed at any one time outstanding the Available Commitment of Outstanding up to but not exceeding such LenderBank's Commitment. Each Borrowing shall be in an aggregate amount not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof and shall consist of Advances of the same Type and, in the case of Eurodollar Rate Advances, having the same Interest Period made or Converted on the same day by the Lenders ratably according to their respective Commitments. Within the limits Banks on a pro rata basis, calculated for each Bank based on its Commitment Percentage of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereof, each Borrower may from time to time borrow, prepay pursuant to Section 2.12 and reborrow under this Section 2.01such Borrowing; provided, however, -------- ------- that in no case shall any Lender Borrowing will be required to make an Advance to any Borrower made hereunder if (a) after giving effect thereto, such Borrowing would exceed the Borrowing Base with respect to such Acquisition, (b) after giving effect thereto and to all other Borrowings made contemporaneously therewith or prior thereto, the aggregate Outstanding principal amount of all Advances would exceed the lesser of (i) the amount of such Advance would exceed such Lender’s Available Commitment, Total Borrowing Base or (ii) the making Total Commitment or (c) the aggregate Acquisition Cost of all Acquisitions financed by such Borrowing and any prior or contemporaneous Borrowings would exceed the Maximum Program Amount. No amounts with respect to any Borrowing which have been repaid or prepaid hereunder may be reborrowed. Each Advance made by or on behalf of a Bank shall reduce such Bank's Commitment by an amount equal to each such Advance. Each Borrowing shall, together with subject to the making provisions of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.Sections 2.15 and 2.16,

Appears in 1 contract

Samples: Acquisition Loan Agreement (Atlantic Acquistion Limited Partnership Et Al)

The Advances. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth, to make one or more Advances to each Borrower in Dollars only the Borrowers from time to time on any Business Day during the period from the date hereof Effective Date until the Termination Date applicable to such Lender in an aggregate amount not to exceed at any time outstanding the Available amount equal to (a) such Bank’s Commitment minus (b) such Bank’s Ratable Portion of such Lender. Each Borrowing outstanding Letter of Credit Liabilities; provided that, no Advance shall be required to be made, except as part of a Borrowing that is in an aggregate amount not less than $5,000,000 or an 10,000,000 (and in integral multiple multiples of $1,000,000 in excess thereof thereof), and each Borrowing shall consist of Advances of the same Type and, having (in the case of Eurodollar Rate a Borrowing comprised of LIBOR Advances, having ) the same Interest Period Period, made or Converted on the same day by the Lenders Banks ratably according to their respective Commitments. Within the limits of each Lender’s Available Commitment, and subject to the conditions set forth in Article III and the other terms and conditions hereofpreceding sentence, each Borrower the Borrowers may from time to time borrow, prepay pursuant to Section 2.12 2.09 and reborrow under this Section 2.01; provided2.01 until the Termination Date, that but in no case shall event will any Lender Bank be required obligated to make an Advance to any Borrower hereunder Advance, if (i) the amount of such Advance plus all other Advances owed to such Bank plus such Bank’s Ratable Portion of the Letter of Credit Liabilities would exceed such Lender’s Available its Commitment, (ii) the making of such Advance, together with the making of the other Advances constituting part of the same Borrowing, would cause the total amount of all Outstanding Credits to exceed the aggregate amount of the Commitments or (iii) the amount of such Advance, together with all other Outstanding Credits for the account of such Borrower, would exceed such Borrower’s Borrower Sublimit.

Appears in 1 contract

Samples: Credit Agreement (Ensco PLC)

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