Common use of The Revolving Credit Clause in Contracts

The Revolving Credit. Each Revolving Lender severally agrees, on the terms and conditions set forth herein, to make loans to the Borrowers (each such loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Effective Date to the 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 at any time exceeding such Lender’s Revolving Commitment; provided that (a) the Total Usage shall not at any time exceed the Aggregate Revolving Commitment; and (b) the sum of (i) the Dollar Equivalent principal amount of all outstanding Revolving Loans of any Revolving Lender plus (ii) such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (y) the amount of all L/C Obligations and (z) the Dollar Equivalent principal amount of all Fronted Offshore Currency Commitments shall not at any time exceed such Revolving Lender’s Revolving Commitment. Subject to the foregoing and the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.10 and reborrow under this Section 2.01.

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Truck Corp)

AutoNDA by SimpleDocs

The Revolving Credit. Each Revolving Lender Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Borrowers Borrower (each such loan, a "Revolving Loan") from time to time on any Business Day during the period from the Effective Closing Date to the Revolving Termination Date, in Dollars and/or an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Bank's name on Schedule 1 under the heading "Revolving Commitment" (such amount, as the same may be reduced under Section 4.01 or reduced or increased as a result of one or more Offshore Currencies to the Company or assignments under Section 12.09, such Bank's "Revolving Commitment"); PROVIDED, HOWEVER, that, after giving effect to any Subsidiary BorrowerBorrowing of Revolving Loans, in an the aggregate Dollar Equivalent principal amount not at any time exceeding such Lender’s of all outstanding Revolving Commitment; provided that (a) the Total Usage Loans shall not at any time exceed the Aggregate combined Revolving CommitmentCommitments; and (b) the sum PROVIDED FURTHER that no Borrowings of (i) the Dollar Equivalent principal amount of all outstanding Revolving Loans of any Revolving Lender plus (ii) such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (y) the amount of all L/C Obligations and (z) the Dollar Equivalent principal amount of all Fronted Offshore Currency Commitments shall not be permitted hereunder at any time exceed such Revolving Lender’s Revolving Commitment. Subject to that any portion of the foregoing and the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under Section 2.10 and reborrow under this Section 2.01.Multi-Year Commitments remains

Appears in 1 contract

Samples: Day Credit Agreement (Cadence Design Systems Inc)

The Revolving Credit. Each Revolving Lender Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Borrowers Borrower (each such loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Effective Closing Date to the Revolving Termination Date, in Dollars and/or an aggregate principal amount not to exceed at any time outstanding the amount set forth opposite such Bank’s name on Schedule 2.1 (such amount as the same may be reduced under Section 2.5 or Section 2.7 or reduced or increased as a result of one or more Offshore Currencies to assignments under Section 12.9, the Company or Bank’s “Revolving Commitment”); provided, that after giving effect to any Subsidiary BorrowerBorrowing of Revolving Loans, in an aggregate Dollar Equivalent amount not at any time exceeding such Lender’s Revolving Commitment; provided that (a) the Total Usage shall not at any time exceed the Aggregate Revolving Commitment; and (b) the sum of (i) the Dollar Equivalent principal amount Effective Amount of all outstanding Revolving Loans of any Revolving Lender plus (ii) such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (y) the amount Effective Amount of all L/C Obligations and (z) plus the Dollar Equivalent principal amount Effective Amount of all Fronted Offshore Currency Commitments Swing Line Loans shall not at any time exceed such the Revolving LenderCommitments. Within the limits of each Bank’s Revolving Commitment. Subject , and subject to the foregoing and the other terms and conditions hereof, the Borrowers Borrower may borrow under this Section 2.012.1(b), prepay under Section 2.10 2.6 and reborrow under this Section 2.012.1(b). As a subfacility of the Banks’ Revolving Commitments, the Borrower may request the Issuing Bank to Issue Letters of Credit from time to time pursuant to Article III. In addition, the Borrower may request the Swing Line Bank to make Swing Line Loans to the Borrower from time to time pursuant to Section 2.16.

Appears in 1 contract

Samples: Credit Agreement (Amerigas Partners Lp)

The Revolving Credit. Each Revolving Lender Bank severally agrees, on the terms and conditions hereinafter set forth hereinforth, to make loans Loans to the Borrowers Company (each such loanLoan, a "Revolving Loan") from time to time on any Business Day during the period from the Effective Closing Date to the Revolving Termination Date, in Dollars and/or an aggregate amount not to exceed at any time outstanding the amount set forth opposite the Bank's name in Schedule 2.01(b) under the heading "Revolving Commitment" (such amount as the same may be reduced pursuant to Section 2.05 or as a result of one or more Offshore Currencies assignments pursuant to Section 11.07, the Company or Bank's "Revolving Commitment"); provided, however, that, after giving effect to any Subsidiary BorrowerBorrowing of Revolving Loans, in an aggregate Dollar Equivalent amount not at any time exceeding such Lender’s the Effective Amount of all Revolving Commitment; provided that (a) the Total Usage Loans and L/C Obligations together shall not at any time exceed the Aggregate Revolving Commitment; and (b) provided further, that the sum of (i) the Dollar Equivalent principal amount Effective Amount of all outstanding the Revolving Loans of any Revolving Lender Bank, plus (ii) the participation of such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (y) Bank in the amount Effective Amount of all L/C Obligations and (z) the Dollar Equivalent principal amount of all Fronted Offshore Currency Commitments Obligations, shall not at any time exceed such Revolving Lender’s Bank's Revolving Commitment. Subject Within the limits of each Bank's Revolving Commitment, and subject to the foregoing and the other terms and conditions hereof, the Borrowers Company may borrow under this Section 2.01subsection 2.01(b), prepay under pursuant to Section 2.10 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 Bank severally agrees, on the terms -------------------- and conditions set forth herein, to make loans to the Borrowers Company (each such loan, a "Revolving Loan") from time to time on any Business Day during the period from -------------- the Effective Closing Date to the Revolving Termination Date, in Dollars and/or 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 Term Commitment, as the same may be reduced under Section 2.05 or as a result of one or more Offshore Currencies to assignments under Section 11.08, the Company or Bank's "Commitment"); provided, however, that, after ---------- -------- ------- giving effect to any Subsidiary BorrowerBorrowing of Revolving Loans, in an aggregate Dollar Equivalent amount not the Effective Amount of all outstanding Revolving Loans, together with the Effective Amount of all Term Loans outstanding at any such time exceeding such Lender’s Revolving Commitment; provided that (a) and the Total Usage Effective Amount of all L/C Obligations, shall not at any time exceed the Aggregate Revolving Commitmentcombined Commitments; and (b) provided further, --- -------- ------- that the sum Effective Amount of (i) the Dollar Equivalent principal amount of all outstanding Revolving Loans of any Revolving Lender Bank plus (ii) the participation of such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (y) Bank in the amount Effective Amount of all L/C Obligations and (z) the Dollar Equivalent principal amount of all Fronted Offshore Currency Commitments shall not at any time exceed such Revolving Lender’s Bank's Pro Rata Share of the Revolving Commitment. Subject Within the limits of each Bank's Commitment, and subject to the foregoing and the other terms and conditions hereof, the Borrowers Company may borrow under this Section 2.01subsection 2.01(b), prepay under Section 2.10 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 Revolving Lender Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Borrowers Revolving Borrower (each such loan, a "Revolving Loan") from time to time on any Business Day during the period from the Effective Closing Date to the Revolving Termination Date, in Dollars and/or an aggregate amount not to exceed at any time outstanding, together with such Bank's participation, if any, in Swingline Loans then outstanding, the amount set forth on Schedule 2.01 under the heading "Revolving Commitment" (such amount as the same may be reduced under Section 2.08 or as a result of one or more Offshore Currencies to assignments under Section 10.08, the Company or Bank's "Revolving Commitment"); provided, however, that, after giving effect to any Subsidiary BorrowerCommitted Borrowing of Revolving Loans, in an the aggregate Dollar Equivalent principal amount not at any time exceeding such Lender’s of all outstanding Revolving Commitment; provided that (a) Loans, together with the Total Usage aggregate principal amount of all Bid Loans and Swingline Loans outstanding, shall not at any time exceed the Aggregate combined Revolving Commitments. Within the limits of each Bank's Revolving Commitment; , and (b) the sum of (i) the Dollar Equivalent principal amount of all outstanding Revolving Loans of any Revolving Lender plus (ii) such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (y) the amount of all L/C Obligations and (z) the Dollar Equivalent principal amount of all Fronted Offshore Currency Commitments shall not at any time exceed such Revolving Lender’s Revolving Commitment. Subject subject to the foregoing and the other terms and conditions hereof, the Borrowers Revolving Borrower may borrow under this Section 2.01subsection 2.01(b), prepay under Section 2.10 2.09 and reborrow under this Section 2.01subsection 2.01(b).

Appears in 1 contract

Samples: Credit Agreement (Louisiana Pacific Corp)

The Revolving Credit. (a) Each Revolving Lender Bank severally agrees, on the terms and conditions hereinafter set forth hereinforth, to make loans Loans to the Borrowers (each such loan, a “Revolving Loan”) Company from time to time on any Business Day during the period from the Effective Date to the Revolving Termination Date, in Dollars and/or an aggregate amount not to exceed at any time outstanding the amount set forth opposite the Bank's name in Schedule 2.1 under the heading "Revolving Commitment" (such amount as the same may be reduced pursuant to Section 2.5 or as a result of one or more Offshore Currencies assignments pursuant to Section 10.8, or as such amount may be increased pursuant to Section 2.1(b) below, the Company or Bank's "Revolving Commitment"); provided, however, that, after giving effect to any Subsidiary BorrowerBorrowing of Loans, in an the aggregate Dollar Equivalent principal amount not at any time exceeding such Lender’s Revolving Commitment; provided that (a) the Total Usage of all outstanding Loans shall not at any time exceed the Aggregate Revolving Commitment; and (b) . Within the sum limits of (i) the Dollar Equivalent principal amount of all outstanding Revolving Loans of any Revolving Lender plus (ii) such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (y) the amount of all L/C Obligations and (z) the Dollar Equivalent principal amount of all Fronted Offshore Currency Commitments shall not at any time exceed such Revolving Lender’s each Bank's Revolving Commitment. Subject , and subject to the foregoing and the other terms and conditions hereof, the Borrowers Company may borrow under this Section 2.012.1(a), prepay under pursuant to Section 2.10 2.6 and reborrow under pursuant to this Section 2.012.1(a).

Appears in 1 contract

Samples: Credit Agreement (Price Reit Inc)

The Revolving Credit. Each Revolving Lender Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Borrowers Company (each such loan, a “Revolving Loan”"REVOLVING LOAN") from time to time on any Business Day during the period from the Effective Closing Date to the Revolving Termination Date, in Dollars and/or an aggregate amount not to exceed at any time outstanding the amount set forth on SCHEDULE 2.01 (such amount, as the same may be reduced under Section 2.05 or as a result of one or more Offshore Currencies to assignments under Section 10.08, the Company or Bank's "COMMITMENT"); PROVIDED, HOWEVER, that, after giving effect to any Subsidiary BorrowerBorrowing of Revolving Loans (exclusive of Revolving Loans which are repaid with the proceeds of, in an aggregate Dollar Equivalent amount not at any time exceeding such Lender’s and simultaneously with the incurrence of, the respective incurrence of Revolving Commitment; provided that (a) Loans), the Total Usage Effective Amount of all outstanding Revolving Loans and the Effective Amount of all L/C Obligations, shall not at any time exceed the Aggregate Revolving Commitmentcombined Commitments; and (b) AND PROVIDED FURTHER, that the sum Effective Amount of (i) the Dollar Equivalent principal amount of all outstanding Revolving Loans of any Revolving Lender Bank plus (ii) the participation of such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (y) Bank in the amount Effective Amount of all L/C Obligations and (z) the Dollar Equivalent principal amount of all Fronted Offshore Currency Commitments shall not at any time exceed such Revolving Lender’s Revolving Bank's Commitment. Subject .; and PROVIDED FURTHER, that at any time prior to the foregoing Nordic Acquisition Date, the Effective Amount of all outstanding Revolving Loans and the Effective Amount of all L/C Obligations shall not exceed $5,000,000. Within the limits of each Bank's Commitment, and subject to the other terms and conditions hereof, the Borrowers Company may borrow under this Section 2.012.01(b), prepay under Section 2.10 2.06 and reborrow under this Section 2.012.01(b).

Appears in 1 contract

Samples: Credit Agreement (Waterlink Inc)

AutoNDA by SimpleDocs

The Revolving Credit. Each Revolving Lender severally agrees, on the terms and conditions hereinafter set forth hereinforth, to make loans Loans to the Borrowers Borrower (each such loanLoan, a “Revolving Loan”"REVOLVING LOAN") from time to time on any Business Day during the period from the Effective Closing Date to the 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 exceeding outstanding (when added to such Lender’s 's Commitment Percentage of the then outstanding Net L/C Obligations) the amount set forth opposite such Lender's name on Schedule I under the heading "Revolving Commitment" (such amount, as the same may be reduced or increased pursuant to the provisions of this Agreement, such Lender's "REVOLVING COMMITMENT"); provided that (a) PROVIDED, HOWEVER, that, after giving effect to any Borrowing of Revolving Loans, the Total Usage shall not at any time exceed the Aggregate Revolving Commitment; and (b) the sum of (i) the Dollar Equivalent aggregate principal amount of all outstanding Revolving Loans of any Revolving Lender plus (ii) such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (y) the amount of all and Net L/C Obligations and (z) the Dollar Equivalent principal amount of all Fronted Offshore Currency Commitments shall not at any time exceed such Revolving Lender’s the Aggregate Revolving Commitment. Subject Within the limits of each Lender's Revolving Commitment, and subject to the foregoing and the other terms and conditions hereof, the Borrowers Borrower may borrow under this Section 2.01subsection 2.1(b), prepay under pursuant to Section 2.10 2.6 and reborrow under pursuant to this Section 2.01subsection 2.1(b).

Appears in 1 contract

Samples: Credit Agreement (Lodgenet Entertainment Corp)

The Revolving Credit. Each Revolving Lender Bank severally agrees, on the terms and conditions set forth herein, to make loans denominated in Dollars to the Borrowers Holdings (each such loan, a “Revolving Loan”"REVOLVING LOAN") from time to time on any Business Day during the period from the Effective Closing Date to the Revolving Termination Date, in Dollars and/or an aggregate amount not to exceed at any time the amount set forth opposite such Bank's name on SCHEDULE 2.01 under the heading "Revolving Commitment" (such amount, as the same may be reduced under Section 2.05 or Section 2.08 or reduced or increased as a result of one or more Offshore Currencies to the Company or assignments under Section 11.08, such Bank's "REVOLVING COMMITMENT"); PROVIDED, HOWEVER, that after giving effect to any Subsidiary BorrowerBorrowing of Revolving Loans, in an aggregate Dollar Equivalent amount not at any time exceeding such Lender’s Revolving Commitment; provided that (a) the Total Usage shall not at any time exceed the Aggregate Revolving Commitment; and (b) the sum of (i) the Dollar Equivalent principal amount Effective Amount of all outstanding Revolving Loans and Swingline Loans and the Effective Amount of any all L/C Obligations shall not exceed an amount equal to the lesser of (1) the combined Revolving Lender plus Commitments of the Banks and (2) the Borrowing Base; and (ii) the Effective Amount of the Revolving Loans of any Bank PLUS the participation of such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (y) Bank in the amount Effective Amount of all L/C Obligations and (z) the Dollar Equivalent principal amount Effective Amount of all Fronted Offshore Currency Commitments Swingline Loans shall not at any time exceed such Revolving Lender’s Bank's Revolving Commitment. Subject Within the limits of each Bank's Revolving Commitment, and subject to the foregoing and the other terms and conditions hereof, the Borrowers Holdings may borrow under this Section 2.01, prepay under Section 2.10 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 Bank severally agrees, on the terms and conditions set forth herein, to make loans to the Borrowers Borrower (each such loan, a "Revolving Loan") from time to time on any Business Day during the period from the Effective Closing Date to the Revolving Termination Date, in Dollars and/or an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Bank's name on Schedule 1 under the heading "Revolving Commitment" (such amount, as the same may be reduced under Section 4.01 or reduced or increased as a result of one or more Offshore Currencies to the Company or assignments under Section 12.09, such Bank's "Revolving Commitment"); PROVIDED, HOWEVER, that, after giving effect to any Subsidiary BorrowerBorrowing of Revolving Loans, in an the aggregate Dollar Equivalent principal amount not at any time exceeding such Lender’s of all outstanding Revolving Commitment; provided that (a) the Total Usage Loans shall not at any time exceed the Aggregate combined Revolving Commitments. Within the limits of each Bank's Revolving Commitment; , and (b) the sum of (i) the Dollar Equivalent principal amount of all outstanding Revolving Loans of any Revolving Lender plus (ii) such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (y) the amount of all L/C Obligations and (z) the Dollar Equivalent principal amount of all Fronted Offshore Currency Commitments shall not at any time exceed such Revolving Lender’s Revolving Commitment. Subject subject to the foregoing and the other terms and conditions hereof, the Borrowers Borrower may borrow under this Section subsection 2.01, prepay under Section 2.10 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 Revolving Lender severally agrees, on the terms and conditions set forth herein, to make loans to the Borrowers Company (each such loan, a "Revolving Loan") from time to time on any Business Day during the period from the Effective Closing Date to the Revolving Termination Date, in Dollars and/or an aggregate amount not to exceed at any time outstanding the amount set forth on Schedule 2.01 (such amount, as the same may be reduced under Section 2.07 or as a result of one or more Offshore Currencies to assignments under Section 11.08, the Company or Revolving Lender's "Revolving Loan Commitment"); provided, however, that, after giving effect to any Subsidiary BorrowerBorrowing of Revolving Loans, in an aggregate the Effective Amount of all outstanding Revolving Loans, together with all Term Loans and Swing Line Loans outstanding at such time, and the Dollar Equivalent amount not at any time exceeding such Lender’s Revolving Commitment; provided that (a) of the Total Usage Effective Amount of all L/C Obligations, shall not at any time exceed the Aggregate Revolving Commitment; and (b) provided further, that the sum Effective Amount of (i) the Dollar Equivalent principal amount of all outstanding Revolving Loans of any Revolving Lender plus (ii) the participation of such Revolving Lender’s Pro Rata Share Lender in the Dollar Equivalent of (x) all outstanding Swing Line Loans, (y) the amount Effective Amount of all L/C Obligations and (z) the Dollar Equivalent principal amount such Revolving Lender's Pro Rata Revolving Share of all Fronted Offshore Currency Commitments any outstanding Swing Line Loans shall not at any time exceed such Revolving Lender’s 's Revolving Loan Commitment. Subject Within the limits of each Revolving Lender's Commitment, and subject to the foregoing and the other terms and conditions hereof, the Borrowers Company may borrow under this Section 2.01subsection 2.01(d), prepay under Section 2.10 2.08 and reborrow under this Section 2.01subsection 2.01(d).

Appears in 1 contract

Samples: Credit Agreement (Oshkosh Truck Corp)

The Revolving Credit. Each Revolving Lender Bank severally agrees, on the terms and conditions hereinafter set forth hereinforth, to make loans Loans to the Borrowers Borrower and WMS (each such loanLoan, a “Revolving Loan”"REVOLVING LOAN") from time to time on any Business Day during the period from the Effective Closing Date to the Revolving Termination Date, in Dollars and/or an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Bank's name in SCHEDULE 2.01(b) under the heading "Revolving Loan Commitment" (such amount as the same may be reduced pursuant to Section 2.05 or as a result of one or more Offshore Currencies assignments pursuant to the Company or Section 11.08, such Bank's "REVOLVING LOAN COMMITMENT"); PROVIDED, HOWEVER, that no Revolving Loan shall be made hereunder if, after giving effect to any Subsidiary Borrower, in an aggregate Dollar Equivalent amount not at any time exceeding such Lender’s Borrowing of Revolving Commitment; provided that Loans (ai) the Total Usage Effective Amount of all Revolving Loans shall not at any time exceed the Aggregate Revolving Loan Commitment; and (bii) the sum Effective Amount of (i) the Dollar Equivalent principal amount of all outstanding Revolving Loans of any Bank shall exceed such Bank's Revolving Lender plus Loan Commitment; or (ii) such Revolving Lender’s Pro Rata Share of (x) all outstanding Swing Line Loans, (yiii) the amount Effective Amount of all L/C Obligations and Revolving Loans made to WMS shall exceed Eighteen Million Dollars (z) the Dollar Equivalent principal amount of all Fronted Offshore Currency Commitments shall not at any time exceed such Revolving Lender’s Revolving Commitment$18,000,000). Subject to Within the foregoing limits, and subject to the other terms and conditions hereof, the Borrowers Borrower and WMS may borrow under this Section 2.01subsection 2.01(b), prepay under pursuant to Section 2.10 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)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!