The Working Capital Loans Clause Samples

The Working Capital Loans. (i) On each Working Capital Loan Funding Date, each Revolving Credit Lender will make a Working Capital Loan to the Borrower in the amount of such Revolving Credit Lender’s Pro Rata Share of the amount specified in the Notice of Borrowing relating to the Working Capital Loan Funding Date in accordance with the provisions of Section 2.2(e). Working Capital Loan Funding Dates may occur only during the Revolving Credit Availability Period. The initial principal amount of each Revolving Credit Lender’s Working Capital Loan may not exceed such Revolving Credit Lender’s Pro Rata Share of the Aggregate Working Capital Loan Commitment and the aggregate principal amount of the Working Capital Loans extended on any Working Capital Loan Funding Date may not (A) cause the aggregate principal amount of all Working Capital Loans outstanding to exceed the Aggregate Working Capital Loan Commitment or (B) cause the Aggregate Revolving Credit Exposure to exceed the Aggregate Revolving Credit Commitment. After payment of all fees, expenses and other amounts required by the Financing Documents to be paid by the Borrower on such Working Capital Loan Funding Date, the remaining aggregate net proceeds of such Working Capital Loans, if any, will be disbursed to the Borrower or its designee and will be used solely as specified in Section 2.7(a). (ii) Each Borrowing of Working Capital Loans will be in the minimum aggregate amount of Five Hundred Thousand Dollars ($500,000) and in integral multiples of One Hundred Thousand Dollars ($100,000) in excess thereof; provided, that a Working Capital Loan funded to repay a Swingline Loan in accordance with Section 2.2(b)(v) may be in such amount as is necessary to satisfy all Obligations in respect of such Swingline Loan. (iii) Each Working Capital Loan will mature on the Facility Maturity Date, unless payment thereof is due prior to such date by acceleration, mandatory prepayment or otherwise. (iv) The Working Capital Loans will be revolving in nature and, as such, within the limits set forth herein, the Borrower may pay or prepay, in whole or in part, the Working Capital Loans and any part of the Aggregate Working Capital Loan Commitment that has been previously paid or prepaid may be reborrowed.