Common use of The Revolving Credit Clause in Contracts

The Revolving Credit. Each Lender severally agrees, on the terms and conditions set forth herein, to make loans to the Company (each such loan, a “Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, from time to time on any Business Day during the period from the Closing Date to the Maturity Date, in an aggregate amount not to exceed at any time outstanding the amount of the Revolving Commitment (such amount as the same may be reduced under Section 2.06 or 2.08); provided, however, that, after giving effect to any Revolver Credit Extension: (a) the Effective Amount of all Credit Extensions shall not at any time exceed the lesser of (i) the then applicable Commitments and (ii) the then applicable Borrowing Base; (b) the Effective Amount of all L/C Obligations shall not any time exceed the L/C Commitment; and (c) the Effective Amount of all Revolving Loans of any Lender plus the participation of such Lender in the Effective Amount of all L/C Obligations shall not at any time exceed such Lender’s Pro Rata Share of the Revolving Commitment. Within the limits of each Lender’s Pro Rata Share of the Revolving Commitment, and subject to the other terms and conditions hereof, the Company may borrow under this Section 2.01, prepay under Section 2.07 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Tracinda Corp)

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The Revolving Credit. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth hereinforth, to make loans Loans to the Company Borrower and WMS (each such loanLoan, a “Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, "REVOLVING LOAN") from time to time on any Business Day during the period from the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of set forth opposite such Bank's name in SCHEDULE 2.01(b) under the heading "Revolving Commitment Loan Commitment" (such amount as the same may be reduced under pursuant to Section 2.06 2.05 or 2.08as a result of one or more assignments pursuant to Section 11.08, such Bank's "REVOLVING LOAN COMMITMENT"); providedPROVIDED, howeverHOWEVER, thatthat no Revolving Loan shall be made hereunder if, after giving effect to any Revolver Credit Extension: (a) the Effective Amount Borrowing of all Credit Extensions shall not at any time exceed the lesser of Revolving Loans (i) the then applicable Commitments and (ii) the then applicable Borrowing Base; (b) the Effective Amount of all L/C Obligations shall not any time exceed the L/C Commitment; and (c) the Effective Amount of all Revolving Loans shall exceed the Aggregate Revolving Loan Commitment; (ii) the Effective Amount of the Revolving Loans of any Lender plus the participation of Bank shall exceed such Lender in Bank's Revolving Loan Commitment; or (iii) the Effective Amount of all L/C Obligations Revolving Loans made to WMS shall not at any time exceed such Lender’s Pro Rata Share of the Revolving CommitmentEighteen Million Dollars ($18,000,000). Within the limits of each Lender’s Pro Rata Share of the Revolving Commitmentforegoing limits, and subject to the other terms and conditions hereof, the Company Borrower and WMS may borrow under this Section 2.01subsection 2.01(b), prepay under pursuant to Section 2.07 2.06 and reborrow under pursuant to this Section 2.01subsection 2.01(b).

Appears in 1 contract

Samples: Credit Agreement (Western Staff Services Inc)

The Revolving Credit. Each Lender Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Company Borrower (each such loan, a "Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, ") from time to time on any Business Day during the period from the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of set forth opposite such Bank's name on Schedule 1 under the heading "Revolving Commitment Commitment" (such amount amount, as the same may be reduced under Section 2.06 4.01 or 2.08reduced or increased as a result of one or more assignments under Section 12.09, such Bank's "Revolving Commitment"); providedPROVIDED, howeverHOWEVER, that, after giving effect to any Revolver Credit Extension: (a) Borrowing of Revolving Loans, the Effective Amount aggregate principal amount of all Credit Extensions outstanding Revolving Loans shall not at any time exceed the lesser of (i) the then applicable Commitments and (ii) the then applicable Borrowing Base; (b) the Effective Amount of all L/C Obligations shall not any time exceed the L/C Commitment; and (c) the Effective Amount of all combined Revolving Loans of any Lender plus the participation of such Lender in the Effective Amount of all L/C Obligations shall not at any time exceed such Lender’s Pro Rata Share of the Revolving CommitmentCommitments. Within the limits of each Lender’s Pro Rata Share of the Bank's Revolving Commitment, and subject to the other terms and conditions hereof, the Company Borrower may borrow under this Section subsection 2.01, prepay under Section 2.07 4.03 and reborrow under this Section subsection 2.01.

Appears in 1 contract

Samples: Credit Agreement (Cadence Design Systems Inc)

The Revolving Credit. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth hereinforth, to make loans Loans to the Company Borrower and WMS (each such loanLoan, a “Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, "REVOLVING LOAN") from time to time on any Business Day during the period from the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of set forth opposite such Bank's name in SCHEDULE 2.01(b) under the Revolving Commitment heading "REVOLVING LOAN COMMITMENT" (such amount as the same may be reduced under pursuant to Section 2.06 2.05 or 2.08as a result of one or more assignments pursuant to Section 11.08, such Bank's "REVOLVING LOAN COMMITMENT"); providedPROVIDED, howeverHOWEVER, thatthat no Revolving Loan shall be made hereunder if, after giving effect to any Revolver Credit Extension: (a) the Effective Amount Borrowing of all Credit Extensions shall not at any time exceed the lesser of Revolving Loans (i) the then applicable Commitments and (ii) the then applicable Borrowing Base; (b) the Effective Amount of all L/C Obligations shall not any time exceed the L/C Commitment; and (c) the Effective Amount of all Revolving Loans of any Lender plus shall exceed the participation of such Lender in Aggregate Revolving Loan Commitment; or (ii) the Effective Amount of all L/C Obligations the Revolving Loans of any Bank shall not at any time exceed such Lender’s Pro Rata Share of the Bank's Revolving Loan Commitment. Within the limits of each Lender’s Pro Rata Share of the Revolving Commitmentforegoing limits, and subject to the other terms and conditions hereof, the Company Borrower and WMS may borrow under this Section 2.01subsection 2.01(b), prepay under pursuant to Section 2.07 2.06 and reborrow under pursuant to this Section 2.01subsection 2.01(b). (d) SCHEDULE 2.01(b) of the Credit Agreement is replaced in its entirety with REVISED SCHEDULE 2.01(b) attached hereto.

Appears in 1 contract

Samples: Credit Agreement (Western Staff Services Inc)

The Revolving Credit. Each Lender severally -------------------- agrees, on the terms and conditions set forth herein, to make loans to the Company (each such loan, a "Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, ") from time to time on -------------- any Business Day during the period from the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of set forth opposite such Lender's name on Schedule --------- 2.01 under the heading "Revolving Commitment Commitment" (such amount amount, as the ---- same may be reduced under Section 2.06 2.05 or 2.08Section 2.08 or reduced or increased as a result of one or more assignments under Section 11.08, such Lender's "Revolving Commitment"); provided, however, that, that -------------------- -------- ------- after giving effect to any Revolver Credit Extension: Borrowing of Revolving Loans, (ai) the Effective Amount of all Credit Extensions shall not at any time exceed the lesser of (i) the then applicable Commitments outstanding Revolving Loans and (ii) the then applicable Borrowing Base; (b) Swingline Loans, and the Effective Amount of all L/C Obligations Obligations, shall not at any time exceed the L/C Commitmentcombined Revolving Commitments; and (cii) the Effective Amount of all the Revolving Loans of any Lender Lender, plus the participation of such ---- Lender in the Effective Amount of all L/C Obligations and Swingline Loans, shall not at any time exceed such Lender’s Pro Rata Share of the 's Revolving Commitment. Within ; and (iii) the limits Effective Amount of each Lender’s Pro Rata Share all outstanding Revolving Loans plus ---- the Effective Amount of all Swingline Loans plus the Revolving Commitment, and subject to Effective Amount ---- of all L/C Obligations plus the other terms and conditions hereof, the Company may borrow under this Section 2.01, prepay under Section 2.07 and reborrow under this Section 2.01.Effective Amount of ----

Appears in 1 contract

Samples: Credit Agreement (Mail Well Inc)

The Revolving Credit. Each Lender Bank severally agrees, on the terms and conditions hereinafter set forth hereinforth, to make loans Loans to the Company (each such loanLoan, a "Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, ") from time to time on any Business Day during the period from the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of set forth opposite the Bank's name in Schedule 2.01(b) under the heading "Revolving Commitment Commitment" (such amount as the same may be reduced under pursuant to Section 2.06 2.05 or 2.08as a result of one or more assignments pursuant to Section 11.07, the Bank's "Revolving Commitment"); provided, however, that, after giving effect to any Revolver Credit Extension: (a) Borrowing of Revolving Loans, the Effective Amount of all Credit Extensions Revolving Loans and L/C Obligations together shall not at any time exceed the lesser Aggregate Revolving Commitment; and provided further, that the sum of (i) the then applicable Commitments and Effective Amount of the Revolving Loans of any Bank, plus (ii) the then applicable Borrowing Base; (b) the Effective Amount of all L/C Obligations shall not any time exceed the L/C Commitment; and (c) the Effective Amount of all Revolving Loans of any Lender plus the participation of such Lender Bank in the Effective Amount of all L/C Obligations Obligations, shall not at any time exceed such Lender’s Pro Rata Share of the Bank's Revolving Commitment. Within the limits of each Lender’s Pro Rata Share of the Bank's Revolving Commitment, and subject to the other terms and conditions hereof, the Company may borrow under this Section 2.01subsection 2.01(b), prepay under pursuant to Section 2.07 2.06 and reborrow under pursuant to this Section 2.01subsection 2.01(b).

Appears in 1 contract

Samples: Credit Agreement (Granite Construction Inc)

The Revolving Credit. Each Revolving Lender severally agrees, on the terms and conditions set forth herein, to make loans to the Company Borrowers (each such loan, a “Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, ) from time to time on any Business Day during the period from the Closing Effective Date to the Maturity Revolving Termination Date, in Dollars and/or one or more Offshore Currencies to the Company or to any Subsidiary Borrower, in an aggregate Dollar Equivalent amount not to exceed at any time outstanding the amount of the exceeding such Lender’s Revolving Commitment (such amount as the same may be reduced under Section 2.06 or 2.08)Commitment; provided, however, that, after giving effect to any Revolver Credit Extension: provided that (a) the Effective Amount of all Credit Extensions Total Usage shall not at any time exceed the lesser Aggregate Revolving Commitment; and (b) the sum of (i) the then applicable Commitments and Dollar Equivalent principal amount of all outstanding Revolving Loans of any Revolving Lender plus (ii) the then applicable Borrowing Base; such Revolving Lender’s Pro Rata Share of (bx) all outstanding Swing Line Loans, (y) the Effective Amount amount of all L/C Obligations shall not any time exceed the L/C Commitment; and and (cz) the Effective Amount Dollar Equivalent principal amount of all Revolving Loans of any Lender plus the participation of such Lender in the Effective Amount of all L/C Obligations Fronted Offshore Currency Commitments shall not at any time exceed such Revolving Lender’s Pro Rata Share of the Revolving Commitment. Within Subject to the limits of each Lender’s Pro Rata Share of the Revolving Commitment, foregoing and subject to the other terms and conditions hereof, the Company Borrowers may borrow under this Section 2.01, prepay under Section 2.07 2.10 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Truck Corp)

The Revolving Credit. Each Lender severally agrees, on the terms and -------------------- conditions set forth herein, to make loans to the Company (each such loan, a "Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, ") from time to time on any Business Day during the period -------------- from the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of set forth opposite the Revolving Commitment Lender's name on the applicable signature page hereto (such amount amount, as the same may be reduced under Section 2.06 2.5 or 2.08as a result of one or more ----------- assignments under Section 11.8, the Lender's "Commitment"); provided, however, that, ------------ ---------- -------- after giving effect to any Revolver Credit Extension: (a) Borrowing of Revolving Loans, the Effective Amount of all Credit Extensions shall not at any time exceed the lesser of (i) the then applicable Commitments outstanding Revolving Loans and (ii) the then applicable Borrowing Base; (b) the Effective Amount of all L/C Obligations Obligations, shall not at any time exceed the L/C CommitmentMaximum Loan Availability; and (c) and provided further, that the Effective Amount of all the --- -------- ------- Revolving Loans of any Lender Lender, plus the participation of such Lender in the Effective Amount of all L/C Obligations shall not at any time exceed such Lender’s Pro Rata Share of the Revolving 's Commitment. Within the limits of each Lender’s Pro Rata Share of the Revolving 's Commitment, and subject to the other terms and conditions hereof, the Company may borrow under this Section 2.012.01(b), prepay under Section 2.07 2.6 and reborrow under --------------- ----------- this Section 2.01.2.01(b). ---------------

Appears in 1 contract

Samples: Secured Credit Agreement (Pen Tab Industries Inc)

The Revolving Credit. Each Lender Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Company (each such loan, a “Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, ) from time to time on any Business Day during the period from the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of the Revolving Commitment set forth on Schedule 1 (such amount as the same may be reduced pursuant to Section 2.5 or 2.7 or as a result of one or more assignments under Section 2.06 or 2.0812.8, the Bank’s “Revolving Commitment”); provided, however, that, (i) after giving effect to any Revolver Credit Extension: (a) Borrowing of Revolving Loans, the Effective Amount of all Credit Extensions Revolving Loans plus the Effective Amount of all L/C Obligations, shall not at any time exceed the lesser of (ix) $5,000,000 (such amount, as the then applicable Commitments same may be reduced pursuant to Section 2.5 or 2.7 being herein called, the “Total Revolving Commitment”) and (iiy) the then applicable Borrowing Base;an amount equal to 15% of Consolidated Accounts Receivable; and (bii) the Effective Amount of all L/C Obligations shall not any time exceed the L/C Commitment; and (c) the Effective Amount of all Revolving Loans of any Lender Bank plus the participation of such Lender Bank in the Effective Amount of all L/C Obligations shall not at any time exceed such LenderBank’s Pro Rata Share of the Total Revolving Commitment. Within the limits of each LenderBank’s Pro Rata Share of the Revolving Commitment, and subject to the other terms and conditions hereof, the Company may borrow under this Section 2.012.1(b), prepay under Section 2.07 2.6, and reborrow under this Section 2.012.1(b).

Appears in 1 contract

Samples: Credit Agreement (New Horizons Worldwide Inc)

The Revolving Credit. Each Lender Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Company (each such loan, a “Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, "REVOLVING LOAN") from time to time on any Business Day during the period from the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of the Revolving Commitment set forth on SCHEDULE 2.01 (such amount amount, as the same may be reduced under Section 2.06 2.05 or 2.08as a result of one or more assignments under Section 10.08, the Bank's "COMMITMENT"); providedPROVIDED, howeverHOWEVER, that, after giving effect to any Revolver Credit Extension: Borrowing of Revolving Loans (a) exclusive of Revolving Loans which are repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of Revolving Loans), the Effective Amount of all Credit Extensions shall not at any time exceed the lesser of (i) the then applicable Commitments outstanding Revolving Loans and (ii) the then applicable Borrowing Base; (b) the Effective Amount of all L/C Obligations Obligations, shall not at any time exceed the L/C Commitmentcombined Commitments; and (c) AND PROVIDED FURTHER, that the Effective Amount of all the Revolving Loans of any Lender Bank plus the participation of such Lender Bank in the Effective Amount of all L/C Obligations shall not at any time exceed such Lender’s Pro Rata Share Bank's Commitment.; and PROVIDED FURTHER, that at any time prior to the Nordic Acquisition Date, the Effective Amount of all outstanding Revolving Loans and the Revolving CommitmentEffective Amount of all L/C Obligations shall not exceed $5,000,000. Within the limits of each Lender’s Pro Rata Share of the Revolving Bank's Commitment, and subject to the other terms and conditions hereof, the Company may borrow under this Section 2.012.01(b), prepay under Section 2.07 2.06 and reborrow under this Section 2.012.01(b).

Appears in 1 contract

Samples: Credit Agreement (Waterlink Inc)

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The Revolving Credit. Each Lender severally agrees, on Subject to the terms and conditions set forth herein, each Lender with a Revolving Loan Commitment severally and not jointly agrees to make loans to the Company (each such loan, a “Revolving Loan”), pro rata according ) to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, Borrowers from time to time time, on any Business Day during the period from the Closing Date to the Maturity DateAvailability Period, in an aggregate amount not to exceed at any time outstanding the amount of set forth opposite such Lender’s name in Section 2.01 under the heading “Revolving Commitment Loan Commitment” (such amount being referred to herein as the same may be reduced under Section 2.06 or 2.08such Lender’s “Revolving Loan Commitment”); provided, however, that, that after giving effect to any Revolver Credit Extension: Borrowing of Revolving Loans, (ai) the Effective Amount of all Credit Extensions Total Revolving Loans Outstanding shall not at any time exceed the lesser of (iA) the then applicable Commitments Borrowing Base and (B) the Aggregate Revolving Loan Commitment, and (ii) the then applicable Borrowing Base; (b) the Effective aggregate Outstanding Amount of all L/C Obligations shall not any time exceed the L/C Commitment; and (c) the Effective Amount of all Revolving Loans of any Lender plus the participation of such Lender in the Effective Amount of all L/C Obligations shall not at any time exceed such Lender’s Pro Rata Share of the Revolving Loan Commitment. Within the limits of each Lender’s Pro Rata Share of the Revolving Commitment, Loan Commitment and subject to the other terms and conditions hereof, the Company Borrowers may borrow under this Section 2.012.01(c), prepay under Section 2.07 2.03, and reborrow under this Section 2.012.01(c).

Appears in 1 contract

Samples: Credit Agreement (Video Display Corp)

The Revolving Credit. Each Lender Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Company Borrower (each such loan, a "Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, ") from time to time on any Business Day during the period from the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of set forth opposite such Bank's name on Schedule 1 under the heading "Revolving Commitment Commitment" (such amount amount, as the same may be reduced under Section 2.06 4.01 or 2.08reduced or increased as a result of one or more assignments under Section 12.09, such Bank's "Revolving Commitment"); providedPROVIDED, howeverHOWEVER, that, after giving effect to any Revolver Credit Extension: (a) Borrowing of Revolving Loans, the Effective Amount aggregate principal amount of all Credit Extensions outstanding Revolving Loans shall not at any time exceed the lesser combined Revolving Commitments; and PROVIDED FURTHER that no Borrowings of (i) the then applicable Commitments and (ii) the then applicable Borrowing Base; (b) the Effective Amount of all L/C Obligations shall not any time exceed the L/C Commitment; and (c) the Effective Amount of all Revolving Loans of any Lender plus the participation of such Lender in the Effective Amount of all L/C Obligations shall not be permitted hereunder at any time exceed such Lender’s Pro Rata Share that any portion of the Revolving Commitment. Within the limits of each Lender’s Pro Rata Share of the Revolving Commitment, and subject to the other terms and conditions hereof, the Company may borrow under this Section 2.01, prepay under Section 2.07 and reborrow under this Section 2.01.Multi-Year Commitments remains

Appears in 1 contract

Samples: Credit Agreement (Cadence Design Systems Inc)

The Revolving Credit. Each Lender Bank severally agrees, on the terms -------------------- and conditions set forth herein, to make loans to the Company (each such loan, a "Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, ") from time to time on any Business Day during the period from -------------- the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount set forth on Schedule 2.01 (such ------------- amount, together with the Bank's Pro Rata Share of the Revolving Commitment (such amount Term Commitment, as the same may be reduced under Section 2.06 2.05 or 2.08as a result of one or more assignments under Section 11.08, the Bank's "Commitment"); provided, however, that, after ---------- -------- ------- giving effect to any Revolver Credit Extension: (a) Borrowing of Revolving Loans, the Effective Amount of all Credit Extensions shall not outstanding Revolving Loans, together with the Effective Amount of all Term Loans outstanding at any such time exceed the lesser of (i) the then applicable Commitments and (ii) the then applicable Borrowing Base; (b) the Effective Amount of all L/C Obligations Obligations, shall not at any time exceed the L/C Commitmentcombined Commitments; and (c) and provided further, --- -------- ------- that the Effective Amount of all the Revolving Loans of any Lender Bank plus the participation of such Lender Bank in the Effective Amount of all L/C Obligations shall not at any time exceed such Lender’s Bank's Pro Rata Share of the Revolving Commitment. Within the limits of each Lender’s Pro Rata Share of the Revolving Bank's Commitment, and subject to the other terms and conditions hereof, the Company may borrow under this Section 2.01subsection 2.01(b), prepay under Section 2.07 2.06 and reborrow under this Section 2.01subsection 2.01(b).

Appears in 1 contract

Samples: Credit Agreement (Globalcenter Inc)

The Revolving Credit. Each Lender Bank severally agrees, on the terms and conditions set forth herein, to make loans denominated in Dollars to the Company Holdings (each such loan, a “Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, "REVOLVING LOAN") from time to time on any Business Day during the period from the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of set forth opposite such Bank's name on SCHEDULE 2.01 under the heading "Revolving Commitment Commitment" (such amount amount, as the same may be reduced under Section 2.06 2.05 or 2.08Section 2.08 or reduced or increased as a result of one or more assignments under Section 11.08, such Bank's "REVOLVING COMMITMENT"); providedPROVIDED, howeverHOWEVER, that, that after giving effect to any Revolver Credit Extension: Borrowing of Revolving Loans, (ai) the Effective Amount of all Credit Extensions shall not at any time exceed the lesser of (i) the then applicable Commitments outstanding Revolving Loans and (ii) the then applicable Borrowing Base; (b) Swingline Loans and the Effective Amount of all L/C Obligations shall not any time exceed an amount equal to the L/C Commitmentlesser of (1) the combined Revolving Commitments of the Banks and (2) the Borrowing Base; and and (cii) the Effective Amount of all the Revolving Loans of any Lender plus Bank PLUS the participation of such Lender Bank in the Effective Amount of all L/C Obligations and the Effective Amount of all Swingline Loans shall not at any time exceed such Lender’s Pro Rata Share of the Bank's Revolving Commitment. Within the limits of each Lender’s Pro Rata Share of the Bank's Revolving Commitment, and subject to the other terms and conditions hereof, the Company Holdings may borrow under this Section 2.01, prepay under Section 2.07 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Building Materials Holding Corp)

The Revolving Credit. Each Revolving Lender severally agrees, on the terms and conditions set forth herein, to make loans to the Company (each such loan, a "Revolving Loan”), pro rata according to that Lender’s Pro Rata Share of the then applicable Revolving Commitment, ") from time to time on any Business Day during the period from the Closing Date to the Maturity Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of the Revolving Commitment set forth on Schedule 2.01 (such amount amount, as the same may be reduced under Section 2.06 2.07 or 2.08as a result of one or more assignments under Section 11.08, the Revolving Lender's "Revolving Loan Commitment"); provided, however, that, after giving effect to any Revolver Credit Extension: (a) Borrowing of Revolving Loans, the Effective Amount of all Credit Extensions outstanding Revolving Loans, together with all Term Loans and Swing Line Loans outstanding at such time, and the Dollar Equivalent of the Effective Amount of all L/C Obligations, shall not at any time exceed the lesser Aggregate Commitment; and provided further, that the Effective Amount of (i) the then applicable Commitments and (ii) Revolving Loans of any Revolving Lender plus the then applicable Borrowing Base; (b) participation of such Revolving Lender in the Dollar Equivalent of the Effective Amount of all L/C Obligations shall not any time exceed the L/C Commitment; and (c) the Effective Amount of all and such Revolving Loans Lender's Pro Rata Revolving Share of any Lender plus the participation of such Lender in the Effective Amount of all L/C Obligations outstanding Swing Line Loans shall not at any time exceed such Revolving Lender’s Pro Rata Share of the 's Revolving Loan Commitment. Within the limits of each Revolving Lender’s Pro Rata Share of the Revolving 's Commitment, and subject to the other terms and conditions hereof, the Company may borrow under this Section 2.01subsection 2.01(d), prepay under Section 2.07 2.08 and reborrow under this Section 2.01subsection 2.01(d).

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Truck Corp)

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