The Revolving Credit Loan. Subject to the terms and conditions set forth herein, each (i) Revolving Credit Lender that holds a Dollar Revolving Credit Commitment severally agrees to make revolving loans to the Borrower from time to time during the period from the Effective Date to the Revolving Credit Termination Date in Dollars and (ii) Revolving Credit Lender that holds an Alternative Currency Revolving Credit Commitment severally agrees to make revolving loans to the Borrower from time to time during the period from the Effective Date to the Revolving Credit Termination Date in Dollars or in any Alternative Currency (each such loan described in clauses (i) and (ii), a “Revolving Credit Loan”), in each case, as requested by the Borrower in an aggregate Outstanding Amount that will not result in (x) the Outstanding Amount of such Revolving Credit Lender’s Revolving Credit Exposure exceeding such Revolving Credit Lender’s Revolving Credit Commitment, (y) the Outstanding Amount of such Revolving Credit Lender’s Revolving Credit Exposure with respect to Loans and Letters of Credit denominated in any Alternative Currency exceeding such Revolving Credit Lender’s Alternative Currency Revolving Credit Commitment, or (z) the aggregate Outstanding Amount of the Revolving Credit Exposure with respect to Loans and Letters of Credit denominated in Alternative Currencies exceeding the Alternative Currency Sublimit. Subject to the terms and conditions of this Agreement, during the period from the Effective Date to but excluding the Revolving Credit Termination Date, the Borrower may borrow, repay and reborrow Revolving Credit Loans hereunder. The (A) Outstanding Amount of the Aggregate Credit Exposure shall not at any time exceed the lesser of (i) the Facility Amount and (ii) the aggregate Commitments, and (B) the aggregate Outstanding Amount of the Revolving Credit Exposures of the Revolving Credit Lenders shall not at any time exceed the lesser of (i) the Revolving Credit Facility Amount and (ii) the aggregate Revolving Credit Commitments. Each borrowing of Revolving Credit Loans shall be made in the same Currency and Type and made by the Revolving Lenders pro rata in accordance with each Revolving Credit Lender’s Dollar Revolving Commitment Percentage or Alternative Currency Revolving Commitment Percentage, as applicable.
The Revolving Credit Loan. 2.1. General Terms of the Revolving Credit Loan..................12 2.2. Disbursements of the Revolving Credit Loan..................12 2.3. The Revolving Credit Note...................................13 2.4. Adjustments to Revolving Credit Loan Amount.................13 2.5. Margin Requirements under the Revolving Credit Loan......
The Revolving Credit Loan. On the date hereof, Lender agrees to extend the Revolving Credit Loan to Borrower in accordance with the terms of, and subject to the conditions set forth in, this Agreement, the Revolving Credit Note and the other Transaction Documents. All Borrowings under the Revolving Credit Loan will, unless the Default Rate is applicable, bear interest as a LIBO Rate Tranche. For avoidance of doubt, the Revolving Credit Loan is a revolving credit facility and Borrower may repay and re-borrow principal amounts under the Revolving Credit Loan. The unpaid principal balance plus all accrued but unpaid interest on the Revolving Credit Loan shall be due and payable on the Revolving Credit Loan Maturity Date, or such earlier date on which such amount shall become due and payable on account of acceleration by Lender in accordance with the terms of the Revolving Credit Note and this Agreement.
The Revolving Credit Loan. (a) The Bank agrees, upon the terms and subject to the conditions hereof, to make one or more Advances to the Borrowers at any time and from time to time upon receipt of an Advance Request, from the Closing Date to the Maturity Date, in an aggregate principal amount at any one time outstanding not to exceed the Commitment; provided that the amount of any Advance shall not exceed the Advance Amount thereof.
(b) The Borrowers may request the Bank to make an Advance by delivering an Advance Request to the Bank at least two (2) Business Days prior to the requested Borrowing Date, together with such other information as the Bank may reasonably request in connection with such Advance. Any Advance Request received after 12:00 noon on such date shall be deemed to be received by the Bank on the immediately succeeding Business Day. If the Bank's computation of the Advance Amount of any Advance shall conflict with the Borrowers' computation thereof set forth in the Advance Request therefor for any reason, the Bank shall deliver written telecopy or telephonic notice to Borrowers of such conflict, and shall not be obligated to make such Advance until it shall receive a corrected Advance Request.
(c) Each Advance to the Borrowers under this Agreement shall be made at the Bank's Office at 000 Xxxx Xxxxxx, 0xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, not later than 2:00 p.m., New York City time, on the Borrowing Date with respect to such Advance, by the Bank's crediting (not later than the close of business on such date) the Borrowers' Account, in the Advance Amount. During the period from the Closing Date to and including the Maturity Date (or until the earlier termination of the Commitment), the Borrowers may borrow, pay, repay and reborrow hereunder, subject to all the terms and provisions of this Agreement provided that at no time shall the principal amount of the Outstanding Balance exceed the Commitment.
The Revolving Credit Loan. The first sentence of Section 2.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: “Subject to the terms and conditions of this Agreement, each Lender agrees to extend to the Borrower from the date hereof through the Termination Date, a revolving line of credit which shall not exceed (i) at all times during the Adjustment Period, $30,000,000, and (ii) at all other times, the Total Revolving Credit Commitment, in either case less (a) outstanding Advances (including Swingline Advances), (b) Letter of Credit Obligations, and (c) the Acceptance Exposure.
The Revolving Credit Loan. (a) Subject to the conditions and pursuant to the terms of the Loan Documents and in reliance upon the representations, warranties, and covenants set forth in the Loan Documents, in the aggregate for all Lenders up to the Maximum Total Amount and on any Business Day occurring prior to the Maturity Date, each Lender severally agrees to make Advances (relative to such Lender) to the Borrowers under the Revolving Credit Loan equal to such Lender's Pro Rata Share of the aggregate amount of the borrowing of total Advances requested by the Borrowers to be made on such day (that are not requested by the Borrowers to be made under the Swing Line Loan).
(b) On or prior to February 28, 1997, the Borrowers shall cause the Maximum Total Amount to be permanently reduced to a principal amount of no greater than $120,000,000; provided that if the Borrowers fail to permanently reduce the Maximum Total Amount to an amount no greater than $120,000,000 on or before February 28, 1997, the Borrowers shall pay to Agent no later than March 1, 1997 for distribution to Lenders based on their Pro Rata Share a one-time commitment fee equal to $225,000. Should the Borrowers fail to permanently reduce the Maximum Total Amount to an amount no greater than $120,000,000 on or before February 28, 1997 and should the Borrowers pay to Agent the commitment fee of $225,000 no later than March 1, 1997, then the Maximum Total Amount may remain at $150,000,000 until the earlier of the St. Louis JV Sale or April 30, 1997, at which time the Maximum Total Amount shall be reduced to $120,000,000. Should the Borrowers comply with the terms of the immediately preceding sentence, but should the Borrowers fail to reduce the Maximum Total Amount to $120,000,000 on or before the earlier of the St. Louis JV Sale or April 30, 1997, then the Borrowers shall be deemed to have breached their agreements contained herein and an Event of Default shall be deemed to exist. Should the Borrowers fail to permanently reduce the Maximum Total Amount to an amount no greater than $120,000,000 on or before February 28, 1997 and should the Borrowers fail to pay to Agent the commitment fee of $225,000 by March 1, 1997, then the Borrowers shall be deemed to have breached their agreements contained herein and an Event of Default shall be deemed to exist.
(c) Notwithstanding any provision contained herein or in any Revolving Credit Note to the contrary, the Borrowers shall cause the Maximum Total Amount to be permanently reduce...
The Revolving Credit Loan. 3.1 Bank hereby establishes a line of credit (hereinafter the "Revolving Credit") in Borrowers' favor in the amount of Borrowers' Availability, but in no event to exceed Eighteen Million Dollars ($18,000,000.00). All advances made by Bank under the within Agreement, and all of Borrowers' other Liabilities to Bank under or pursuant to the within Agreement, shall, in the absence of an earlier Event of Default, be due and payable in full on April 30, 1999 (the "Maturity Date"), all as provided in the Note of Borrowers.
The Revolving Credit Loan. (a) Subject to the conditions and pursuant to the terms of the Loan Documents and in reliance upon the representations, warranties, and covenants set forth in the Loan Documents, each Lender severally agrees to make Advances (relative to
(b) The Maximum Total Amount available to be advanced under the Revolving Credit Loan shall be reduced dollar-for-dollar by the sum of: (i) the face amount of any outstanding Letter of Credit, and (ii) the principal amount outstanding from time to time under the Swing Line Note. In no event shall the Borrower permit the sum of (x) the face amount of outstanding Letters of Credit, plus (y) the outstanding principal amount of the Swing Line Note, plus (z) the outstanding principal amount of the Revolving Credit Loan to exceed the Maximum Total Amount.
(c) On the terms and subject to the conditions hereof and the Revolving Credit Notes, and provided no Event of Default or Default Condition shall have occurred, the Borrower, may borrow, repay, and reborrow under the Revolving Credit Loan.
(d) The failure of any Lender to make an Advance under its Revolving Credit Loan Commitment shall not relieve any other Lender of its obligations, if any, hereunder to make Advances under such Lender's Revolving Credit Loan Commitment, but no Lender shall be responsible for the failure of any other Lender to make an Advance to be made by such other Lender on the date of any requested borrowing.
The Revolving Credit Loan. Lender agrees, as more fully described in this Agreement and subject to the terms and conditions hereto, to provide for revolving lines of credit to Borrower (collectively, the “Revolving Credit Loan”) for which Borrower may borrow and request Letters of Credit against the Eligible Assets held from time to time in the Pledged Account maintained with Lender.
The Revolving Credit Loan. Each Bank severally agrees, on -------------------------- the terms and conditions hereinafter set forth, to make Advances on a revolving credit basis to the Borrower from time to time on any Business Day during the period on and after the Effective Date hereof until the Revolving Credit Termination Date, in an aggregate amount not to exceed at any time outstanding an amount equal to such Bank'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 made on the same day by the Banks ratably according to their respective Commitments. Within the limits set forth herein, until, and including, the Revolving Credit Termination Date, the Borrower may borrow, prepay pursuant to Sections 3.02 and 3.03 and reborrow under this Section 2.01. The principal amount outstanding of all Advances shall mature and, together with accrued and unpaid interest thereon, shall be due and payable on the Revolving Credit Termination Date.
