The Commitment and the Loans Sample Clauses
The Commitment and the Loans. The 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. 2.1 Commitment of the Lender 12 2.2 Notice of Borrowings 12 2.3 Limitation on Advances 12
2.4 Funding of Advances 12 2.5 Note 13 2.6 Maturity of Advances 13 2.7 Commitment and Letter of Credit Fees 13
2.8 Other Fees 13
2.9 Minimum Amounts of Borrowing 13 2.10 Optional Termination or Reduction of Commitment 14 2.11 Termination of Commitment 14 2.12 Conditions for First Borrowing 14 2.13 Further Conditions for Disbursement 15 2.14 Limitations of Requests and Elections 16
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 Loans
The Commitment and the Loans