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The Commitment and the Loans Sample Clauses

The Commitment and the LoansThe Commitment and the obligation of each Lender to make or maintain its Pro Rata Share of any Advance or Loan and/or to issue any Letter of Credit or Letter of Credit Agreement are subject to performance by the Borrower of all its obligations under this Agreement and to the satisfaction of the following further conditions precedent: (a) The fact that, immediately prior to and upon the making of each Loan, no Event of Default or Default shall have occurred and be continuing; (b) The fact that the representations and warranties of the Borrower contained in Article 4, INFRA and in each of the other Financing Documents, are true and correct in all material respects on and as of the date of each Advance or Loan except as altered hereafter by actions consented to or not prohibited hereunder and except for those which state that they are made as of a specified date. The Borrower's delivery of each Request to the Agent shall be deemed to be a representation and warranty by the Borrower as of the date of such Advance or Loan as to the facts specified in SECTIONS 3.1.2(a) and (b); (c) Receipt by Agent on or prior to the Business Day specified in the definition of Interest Rate Election of a written Request stating the amount requested for the Loan or Advance in question and an Interest Rate Election for such Loan or Advance, all signed by a duly authorized officer of the Borrower on behalf of the Borrower; (d) That there exists no law or regulation by any governmental authority having jurisdiction over the Agent or any of the Lenders which would make it unlawful in any respect for such Lender to make its Pro Rata Share of the Loan or Advance, including, without limitation, Regulations U, T, and X of the Board of Governors of the Federal Reserve System; and (e) No Material Adverse Effect has occurred.
The Commitment and the Loans. (a) Subject to the terms and conditions hereof, during the period from the Closing Date up to but not including the Termination Date, the Banks severally, but not jointly, shall make loans to the Borrower in such amounts as the Borrower may from time to time request but not exceeding in aggregate principal amount at any one time outstanding $300,000,000 (as such amount may be (i) increased pursuant to Section 2.15 or (ii) reduced pursuant to Section 2.1(d), 2.6 or any other provision of this Agreement, from time to time, the "Commitment"); provided, however, that in no event shall the aggregate principal amount of such loans plus the aggregate stated amount of the Letters of Credit exceed the Commitment. All amounts borrowed by the Borrower pursuant to this Section 2.1(a) and all amounts drawn under any Letter of Credit and not repaid may be referred to hereinafter collectively as the "Loans." Each Loan requested by the Borrower shall be funded by the Banks in accordance with their Ratable Shares of the requested Loan. A Bank shall not be obligated hereunder to make any additional Loan if immediately after making such Loan, the aggregate principal balance of all Loans made by such Bank plus such Bank's Ratable Share of any outstanding Letters of Credit would exceed such Bank's Ratable Share of the Commitment. The Loans may be comprised of Base Rate Loans or LIBOR Loans, as provided in Section 2.3. (b) On each date set forth in the table below, the Commitment shall automatically reduce by that percentage of the Commitment (as in effect on June 30, 2000, before giving effect to the reduction required by this Section 2.1(b) on that date) set forth for such date in such table: - 25 - 32 Year February 13 March 31 June 30 September 30 December 31 2000 0% 0% 1.25% 1.25% 1.25% 2001 0% 1.25% 3.75% 3.75% 3.75% 2002 0% 3.75% 5% 5% 5% 2003 0% 5% 5% 5% 5% 2004 0% 5% 5% 5% 5% 2005 0% 5% 5% 5% 5% 2006 all remaining principal (c) Prior to the Termination Date, the Borrower may, at its option, from time to time prepay all or any portion of the Loans, subject to the provisions of Section 2.6, and the Borrower may reborrow from time to time hereunder amounts so paid up to the amount of the Commitment in effect at the time of reborrowing. (d) At any time prior to the Termination Date, by written notice to the Administrative Agent no later than 11:00 A.M. Cleveland, Ohio time five Banking Days prior to such termination or reduction, the Borrower may permanently terminate, or f...
The Commitment and the Loans. (a) Subject to the terms and conditions hereof, during the period from the Closing Date up to but not including the Termination Date, the Bank shall make loans to the Borrower in such amounts as the Borrower may from time to time request, but not exceeding in aggregate principal amount at any one time outstanding $35,000,000 (as such amount may be reduced from time to time, the "Commitment"). All amounts borrowed by the Borrower pursuant to this Section 2.1(a) may be referred to hereinafter collectively as the "Loans." The Loans may be comprised of Base Rate Loans or LIBOR Loans, as provided in Section 2.2. (b) Prior to the Termination Date, the Borrower may, at its option, from time to time prepay all or any portion of the Loans, subject to the provisions of Section 2.5, and, subject to the provisions of Sections 2.1(a), the Borrower may reborrow from time to time hereunder amounts so paid up to the amount of the Commitment in effect at the time of reborrowing. On the Termination Date, the Commitment shall terminate, no new Loans shall be made and all amounts outstanding or otherwise payable hereunder or under the Note or any other Collateral Document, together with interest accrued thereon, shall be due and payable.
The Commitment and the LoansThe Commitment and the obligation of each Bank to make its Pro Rata Share of any Loan are subject to performance by the Borrower of all its obligations under this Agreement and to the satisfaction of the following further conditions precedent: (a) The fact that, immediately prior to and upon the making of each Loan, no Event of Default or Default shall have occurred and be continuing; (b) The fact that the representations and warranties of the Borrower contained in Article IV, infra, are true and correct in all material respects on and as of the date of each Loan except as altered hereafter by actions not prohibited hereunder. The Borrower's delivery of the Notes to the Banks and each of the Borrower's Requests and Bid Loan Requests shall be deemed to be a representation and warranty by the Borrower as of the date of such Loan as to the facts specified in Section 3.01 (B)(a) and (b); (c) Receipt by Agent on or prior to the Business Day specified in the definition of Interest Rate Election (including, in the case of the initial Loan, a Business Day occurring prior to the Drawdown Date) of a written Request stating the amount requested for the Loan in question and an Interest Rate Election for such Loan or a Bid Loan Request, all signed by a duly authorized officer of the Borrower on behalf of the Borrower; (d) That there exists no law or regulation by any governmental authority having jurisdiction over any of the Banks which would make it unlawful in any respect for such Bank to make its Pro Rata Share of the Loan, including, without limitation, Regulations U, T and X of the Board of Governors of the Federal Reserve System and there has been no material adverse change in the financial condition, business operations or property of the Borrower and the Subsidiaries, if any, on a consolidated basis.
The Commitment and the Loans 

Related to The Commitment and the Loans

  • The Commitments and Credit Extensions 2.01 The Loans.

  • New Swingline Loans/Letters of Credit So long as any Lender is a Defaulting Lender, (i) the Swingline Lender shall not be required to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline Loan and (ii) no Issuing Lender shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • Commitments and Credit Extensions 33 Loans ......................................................................................................................33 Borrowings, Conversions and Continuations of Loans .........................................33

  • The Commitments and Borrowings Section 2.01

  • The Commitments Subject to the terms and conditions set forth herein: (a) each Dollar Lender severally agrees to make Revolving Loans in Dollars to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (i) such Lender’s Revolving Dollar Credit Exposure exceeding such Lender’s Dollar Commitment, (ii) the aggregate Revolving Dollar Credit Exposure of all of the Lenders exceeding the Dollar Commitments, or (iii) the total Covered Debt Amount exceeding the Borrowing Base then in effect; (b) each Multicurrency Lender severally agrees to make Revolving Loans in Dollars or in any Agreed Foreign Currency to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (i) such Lender’s Revolving Multicurrency Credit Exposure exceeding such Lender’s Multicurrency Commitment, (ii) the aggregate Revolving Multicurrency Credit Exposure of all of the Lenders exceeding the Multicurrency Commitments, or (iii) the total Covered Debt Amount exceeding the Borrowing Base then in effect; (c) each Term Lender severally agrees to make a Term Loan in Dollars to the Borrower on the First Amendment Effective Date in an aggregate principal amount (i) up to but not exceeding such Term Lender’s Initial Term Commitment and (ii) that will not result in the total Covered Debt Amount exceeding the Borrowing Base then in effect; and (d) the Borrower may reallocate all or a portion of any Lender’s Dollar Commitments to Multicurrency Commitments or all or a portion of any Lender’s Multicurrency Commitments to Dollar Commitments, in each case by written notice to the Administrative Agent no later than ten (10) Business Days before the date of the proposed reallocation, in form reasonably satisfactory to the Administrative Agent and with the written consent of any Lender whose commitment is being reallocated; provided that any such reallocation (i) may not be made during the five (5) Business Days prior to the Commitment Termination Date or any Interest Payment Date or date of prepayment pursuant to Sections 2.10(a) through (c) and (ii) shall not cause any Lender’s Revolving Dollar Credit Exposure to exceed its Dollar Commitments or cause any Lender’s Revolving Multicurrency Credit Exposure to exceed its Multicurrency Commitments. Upon such reallocation, (i) the specified amount of such Lender’s Dollar Commitments or Multicurrency Commitments, as applicable, shall be deemed to be converted to an increase in such Multicurrency Commitments or Dollar Commitments, as applicable, for all purposes hereof, (ii) each Revolving Lender shall purchase or sell Dollar Loans and/or Multicurrency Loans, as applicable, at par to the other Lenders as specified by the Administrative Agent in an amount necessary such that, after giving effect to all such purchases and sales, each Revolving Lender shall have funded its pro rata share of the entire amount of the then outstanding Dollar Loans and Multicurrency Loans and (iii) the Borrower shall pay to the Revolving Lenders of each Class the amounts, if any, payable under Section 2.15 as a result of any resulting prepayment. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans. Amounts repaid or prepaid with respect to the Term Loans may not be reborrowed. The Term Commitment of each Term Lender shall automatically terminate upon such Term Lender fully funding its Term Commitment.

  • New Swing Line Loans/Letters of Credit Notwithstanding anything in this Agreement to the contrary, so long as any Lender is a Defaulting Lender, (i) the Swing Line Lender shall not be required to fund any Swing Line Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swing Line Loan and (ii) no L/C Issuer shall be required to issue, extend, renew or increase any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

  • 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.