Common use of The Revolving Credit Commitments Clause in Contracts

The Revolving Credit Commitments. Subject to the terms and conditions hereof, each Lender, by its acceptance hereof, severally agrees to make a loan or loans (individually a “Revolving Loan” and collectively for all the Lenders “Revolving Loans”) in U.S. Dollars and Alternative Currencies to the Borrowers from time to time on a revolving basis in an aggregate outstanding Original Dollar Amount up to the amount of such Lender’s Revolving Credit Commitment, subject to any reductions thereof pursuant to the terms hereof on or after the Effective Date and before the Termination Date. The sum of the (i) aggregate Original Dollar Amount of Revolving Loans, (ii) the aggregate Original Dollar Amount of Swing Loans, and (iii) the aggregate U.S. Dollar Equivalent of all L/C Obligations at any time outstanding shall not exceed the Revolving Credit Commitments in effect at such time. Each Borrowing of Revolving Loans shall be made ratably from the Lenders in proportion to their respective Percentages. As provided in Section 1.5(a) hereof, the Company on behalf of the Borrowers, may elect that each Borrowing of Revolving Loans denominated in U.S. Dollars be either Base Rate Loans or Eurocurrency Loans. All Loans denominated in an Alternative Currency shall be Eurocurrency Loans. Revolving Loans may be repaid and the principal amount thereof reborrowed before the Termination Date, subject to all the terms and conditions hereof.

Appears in 5 contracts

Samples: Multicurrency Credit Agreement (Gallagher Arthur J & Co), Multicurrency Credit Agreement, Multicurrency Credit Agreement (Gallagher Arthur J & Co)

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The Revolving Credit Commitments. Subject to the terms and conditions hereof, each Lender, by its acceptance hereof, severally agrees to make a loan or loans (individually a “Revolving Loan” and collectively for all the Lenders “Revolving Loans”) in U.S. Dollars and Alternative Currencies to the Borrowers from time to time on a revolving basis in an aggregate outstanding Original Dollar Amount up to the amount of such LenderLxxxxx’s Revolving Credit Commitment, subject to any reductions thereof pursuant to the terms hereof on or after the Effective Date and before the Termination Date. The sum of the (i) aggregate Original Dollar Amount of Revolving Loans, (ii) the aggregate Original Dollar Amount of Swing Loans, and (iii) the aggregate U.S. Dollar Equivalent of all L/C Obligations at any time outstanding shall not exceed the Revolving Credit Commitments in effect at such time. Each Borrowing of Revolving Loans shall be made ratably from the Lenders in proportion to their respective Percentages. As provided in Section 1.5(a) hereof, the Company on behalf of the Borrowers, may elect that each Borrowing of Revolving Loans denominated in U.S. Dollars be either Base Rate Loans or Eurocurrency EurocurrencySOFR Loans. All Loans denominated in an Alternative Currency shall be Eurocurrency Loans or RFR Loans. Revolving Loans may be repaid and the principal amount thereof reborrowed before the Termination Date, subject to all the terms and conditions hereof.

Appears in 1 contract

Samples: Credit Agreement (Arthur J. Gallagher & Co.)

The Revolving Credit Commitments. Subject to the terms and conditions hereof, each LenderBank, by its acceptance hereof, severally agrees to make a loan or loans (individually a "Revolving Loan" and collectively for all the Lenders “"Revolving Loans") in U.S. Dollars and Alternative Currencies to the Borrowers either Borrower from time to time on a revolving basis in U.S. Dollars and Alternative Currencies in an aggregate outstanding Original Dollar Amount up to the amount of such Lender’s its revolving credit commitment set forth on the applicable signature page hereof (its "Revolving Credit Commitment" and, cumulatively for all the Banks, the "Revolving Credit Commitments"), subject to any reductions thereof pursuant to the terms hereof hereof, on or after the Effective Date and before the Termination Date. The sum of Neither the (i) aggregate Original Dollar Amount of Revolving Loans, (ii) nor the aggregate Original Dollar Amount of Swing Loans, and (iii) the aggregate U.S. Dollar Equivalent of the aggregate principal amount of all Revolving Loans, all Revolving Swing Loans and all L/C Obligations at any time outstanding shall not exceed the Revolving Credit Commitments in effect at such time. Each Borrowing of Revolving Loans shall be made ratably from the Lenders Banks in proportion to their respective Percentages. As provided in Section 1.5(a1.6(a) hereof, the Company on behalf of the Borrowers, relevant Borrower may elect that each Borrowing of Revolving Loans denominated in U.S. Dollars be either Base Domestic Rate Loans or Eurocurrency Loans; provided that neither the Original Dollar Amount nor the U.S. Dollar Equivalent of the aggregate principal amount of all Eurocurrency Loans (whether Revolving Loans or Short-Term Revolving Loans) shall exceed $50,000,000. All Revolving Loans denominated in an Alternative Currency shall be Eurocurrency Loans. Revolving Loans may be repaid and the principal amount thereof reborrowed before the Termination Date, subject to all the terms and conditions hereof.

Appears in 1 contract

Samples: Credit Agreement (Gallagher Arthur J & Co)

The Revolving Credit Commitments. Subject to the terms and conditions hereof, each Lender, by its acceptance hereof, severally agrees to make a loan or loans (individually a “Revolving Loan” and collectively for all the Lenders “Revolving Loans”) in U.S. Dollars and Alternative Currencies to the Borrowers from time to time on a revolving basis in an aggregate outstanding Original Dollar Amount up to the amount of such Lender’s Revolving Credit Commitment, subject to any reductions thereof pursuant to the terms hereof on or after the Effective Date and before the Termination Date. The sum of the (i) aggregate Original Dollar Amount of Revolving Loans, (ii) the aggregate Original Dollar Amount of Swing Loans, and (iii) the aggregate U.S. Dollar Equivalent of all L/C Obligations at any time outstanding shall not exceed the Revolving Credit Commitments in effect at such time. Each Borrowing of Revolving Loans shall be made ratably from the Lenders in proportion to their respective Percentages. As provided in Section 1.5(a) hereof, the Company on behalf of the Borrowers, may elect that each Borrowing of Revolving Loans denominated in U.S. Dollars be either Base Rate Loans or Eurocurrency Loans. All Loans denominated in an Alternative Currency shall be Eurocurrency Loans. Revolving Loans may be repaid and the principal amount thereof reborrowed before the Termination Date, subject to all the terms and conditions hereof.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Gallagher Arthur J & Co)

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The Revolving Credit Commitments. Subject to the terms and conditions hereof, each Lender, by its acceptance hereof, severally agrees to make a loan or loans (individually a “Revolving Loan” and collectively for all the Lenders “Revolving Loans”) in U.S. Dollars and Alternative Currencies to the Borrowers Borrower from time to time on a revolving basis in an aggregate outstanding Original Dollar Amount up to the amount of such Lender’s Revolving Credit Commitment, subject to any reductions thereof pursuant to the terms hereof on or after the Effective Date and before the Termination Date. The sum of the (i) aggregate Original Dollar Amount of Revolving Loans, (ii) the aggregate Original Dollar Amount of Swing Loans, and (iii) the aggregate U.S. Dollar Equivalent of all L/C Obligations at any time outstanding shall not exceed the Revolving Credit Commitments in effect at such time. Each Borrowing of Revolving Loans shall be made ratably from the Lenders in proportion to their respective Percentages. As provided in Section 1.5(a) hereof, the Company on behalf of the Borrowers, Borrower may elect that each Borrowing of Revolving Loans denominated in U.S. Dollars be either Base Rate Loans or Eurocurrency Loans. All Loans denominated in an Alternative Currency shall be Eurocurrency Loans. Revolving Loans may be repaid and the principal amount thereof reborrowed before the Termination Date, subject to all the terms and conditions hereof.

Appears in 1 contract

Samples: Multicurrency Credit Agreement (Gallagher Arthur J & Co)

The Revolving Credit Commitments. The Committed Loans. Subject to the terms and conditions hereof, each LenderBank, by its acceptance hereof, severally agrees agrees, before the Revolving Credit Termination Date, to make a loan or loans (individually a “Revolving "Committed Loan" and collectively for all the Lenders “Revolving "Committed Loans") in U.S. Dollars to each and Alternative Currencies to the Borrowers any Borrower from time to time on a revolving basis in U.S. Dollars and Alternative Currencies in an aggregate outstanding Original Dollar Amount for all the Borrowers (taken together) up to the amount of such Lender’s its commitment to make Committed Loans set forth on the applicable signature page hereof or pursuant to Section 17.12 hereof (its "Revolving Credit Commitment" and cumulatively for all the Banks the "Revolving Credit Commitments"), subject to any reductions thereof pursuant to the terms hereof on or after the Effective Date and before the Termination Datehereof. The sum of the (i) aggregate Original Dollar Amount of Revolving Loans, (ii) At no time shall the aggregate Original Dollar Amount of Swing outstanding Loans (whether Committed Loans, Bid Loans or Swing Line Loans) and (iii) the aggregate U.S. Dollar Equivalent of all L/C Obligations at any time outstanding shall not to all Borrowers (taken together) exceed the Revolving Credit Commitments then in effect at such timeeffect, which Revolving Credit Commitments on the date hereof total $400,000,000. Each Borrowing of Revolving Committed Loans shall be made ratably from the Lenders Banks in proportion to their respective Percentages. As provided in Section 1.5(a) hereofThe relevant Borrower may elect, through the Company on behalf of the BorrowersCompany, may elect that each Borrowing of Revolving Committed Loans denominated in U.S. Dollars be made available by means of either Base Domestic Rate Loans or Eurocurrency Loans. All Loans denominated in an Alternative Currency shall be Eurocurrency Loans. Revolving Loans may be repaid and the principal amount thereof reborrowed before the Termination Date, subject to all the terms and conditions hereof.

Appears in 1 contract

Samples: Credit Agreement (Sickinger Co)

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