Tranche A Commitment. On and subject to the terms and conditions of this Reimbursement and Pledge Agreement, (a) the Fronting Bank agrees to issue, extend and renew for the account of the Borrower one or more standby letters of credit (a “Tranche A Letter of Credit”) from time to time before the Tranche A Commitment Termination Date, (b) each Tranche A Lender hereby agrees to issue severally, and for itself alone, Tranche A Several Letters of Credit at the request of and for the account of the Borrower from time to time before the Tranche A Commitment Termination Date in such Lender’s Tranche A Commitment Percentage of such aggregate stated amounts of Several Letters of Credit, (c) each Lender hereby agrees to purchase Letter of Credit Participations in the obligations of the Fronting Bank under Tranche A Letters of Credit that are Fronted Letters of Credit as more fully set forth in §2.2, and (d) with respect to Tranche A Several Letters of Credit, the Fronting Bank hereby agrees that it shall be severally (and not jointly) liable for an amount equal to its Tranche A Commitment Percentage plus each Participating Bank’s Tranche A Commitment Percentage and each Participating Bank hereby agrees to purchase Letter of Credit Participations in the obligations of the Fronting Bank under any such Tranche A Several Letter of Credit in an amount equal to such Participating Bank’s Tranche A Commitment Percentage; provided however, that after giving effect to any Credit Extension pursuant to this §2.1.1, (x) the sum of the Total Outstandings shall not exceed the Total Commitment, (y) the sum of the Tranche A Outstanding Amount shall not exceed the Total Tranche A Commitment and (z) the Total Outstandings shall not exceed the Collateral Coverage Amount. The Borrower, the Fronting Bank and the Tranche A Lenders agree that the Existing Letters of Credit listed on Schedule 2.1.1 shall be Tranche A Letters of Credit hereunder.
Tranche A Commitment. Subject to the terms and conditions of this Loan Agreement, Lenders agree to advance to Borrowers (the “Tranche A Advances”) from time to time on or prior to April 30, 2008, one or more term loans in an aggregate principal amount of up to Ten Million Dollars ($10,000,000) (the “Tranche A Commitment”).
Tranche A Commitment. From and including the Closing Date to (but excluding) the Facility Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to (a) make Loans (each, a "Tranche A Revolving Loan") to Astec, (b) to participate in Facility Letters of Credit for the account of Astec up to but not exceeding the Facility Letter of Credit Limit, (c) to participate in Swing Line Loans for the account of Astec up to but not exceeding the Swing Line Limit, each from time to time in amounts not to exceed in the aggregate at any one time outstanding the lesser of (x) such Lender's Tranche A Commitment, and (y) such Lender's Revolving Commitment (less such Lender's Percentage of any Revolving Loan Obligations at such time). Subject to the terms of this Agreement, Astec may borrow, repay and reborrow, and Astec may request the issuance of Facility Letters of Credit, at any time prior to the Facility Termination Date. The Tranche A Commitment shall expire on the Facility Termination Date.
Tranche A Commitment. Subject to the terms and conditions of this Agreement, each Lender agrees (severally, not jointly or jointly and severally) to make, from time to time prior to the Availability Termination Date, a series of term loans to Borrowers (each, a "Tranche A Advance" and collectively the "Tranche A Advances") in an aggregate amount at any one time outstanding not to exceed such Lender's Pro Rata Share of the Tranche A Commitment. Each Tranche A Advance shall be made in accordance with such Lender's Pro Rata Share at such times and in such amounts as any Borrower may request in writing, shall be advanced directly to the applicable vendor or Borrower and once borrowed may be prepaid in whole or in part without penalty or premium at any time during the term of this Agreement upon 30 days prior written notice by such Borrower to Agent, all such prepaid amounts to be applied to the installments due on all of the Tranche A Advances in the inverse order of their maturity. Amounts borrowed and repaid may not be reborrowed. The foregoing to the contrary notwithstanding, (a) each requested Tranche A Advance shall be in a principal amount of not less than (i) $500,000, or (ii) such lesser amount as is the then unfunded balance of the Tranche A Commitment, (b) each Tranche A Advance shall be in an amount, as determined by Agent, not to exceed such Borrower's invoice cost (including shipping, freight, and installation) with respect to new Gaming Equipment that is to be purchased in the ordinary course of business by a Borrower with the proceeds of such Tranche A Advance, (c) the new Gaming Equipment that is to be acquired or that has been purchased by Borrowers must be for Gaming Equipment listed on Schedule 7.17 hereto and be otherwise acceptable to Agent in all respects, not be a fixture, and not be intended to be affixed to real property or to become installed in or affixed to other goods, and (d) no Lender shall have any obligation to fund any Tranche A Advance hereunder to the extent that the making thereof would cause the then outstanding amount of Tranche A Advances to exceed the Tranche A Commitment. All amounts outstanding under the Tranche A Commitment shall constitute Obligations.
Tranche A Commitment. (a) From time to time on any Business Day during the period from and after the Effective Date to the earlier to occur of (x) Tranche A Availability Termination Date and (y) any Commitment Termination Date relating to all Commitments or to the Tranche A Commitment, the Lender will make Tranche A Loans to the Borrower equal to the amount of the Tranche A Loan requested by the Borrower to be made on such day in the applicable Borrowing Request therefor. On the terms and subject to the conditions of this Agreement, the Borrower may from time to time borrow, prepay and reborrow Tranche A Loans.
(b) On the terms and subject to the conditions of this Agreement, the Lender agrees to convert the aggregate unpaid principal amount of the Tranche A Loans outstanding at the opening of business on the Tranche A Availability Termination Date to a Term Loan, PROVIDED that (i) no Event of Default has occurred and is continuing at that time and (ii) the Borrower has provided a certificate to the Lender to that effect. Once repaid or prepaid, such Term Loan may not be reborrowed.
Tranche A Commitment. On and subject to the terms and conditions of this Reimbursement and Pledge Agreement, each Issuing Bank agrees to issue, extend and renew for the account of Mont Re one or more standby letters of credit (a “Tranche A Letter of Credit”), from time to time before the Tranche A Commitment Termination Date and, as more fully set forth in §2.2, each Tranche A Lender agrees to purchase a participation in such Tranche A Letters of Credit, provided, however, that after giving effect to any request for such issuance, extension or renewal, (a) the Total Outstandings shall not exceed the Total Commitment at any one time, (b) the sum of the Tranche A Outstanding Amount shall not exceed the Total Tranche A Commitment at any one time, and (c) the Total Outstandings shall not exceed the Collateral Coverage Amount. The Borrowers, the Issuing Banks and the Lenders agree that the Existing Letters of Credit listed on Schedule 2.1.1 shall be Tranche A Letters of Credit hereunder.
Tranche A Commitment. As to each Tranche A Lender, its obligation to make Tranche A Loans to Borrower pursuant to §2.1(a)(i) in an original principal amount not to exceed the applicable amount set forth opposite such Tranche A Lender’s name on Schedule 2, as such Schedule 2 may be updated by the Agent from time to time.
Tranche A Commitment. On and subject to the terms and conditions of this Agreement, (a) each of the Lenders, severally and for itself alone, agrees to make loans to the Company on a revolving basis (the "Tranche A Loans") from time to time before the Commitment Termination Date in such Lender's Percentage of such aggregate amounts as the Company may from time 38 to time request from all Lenders under the Tranche A Commitment (or such other amount that is determined in accordance with the provisions of Section 4.1), provided that the aggregate principal amount of all Tranche A Loans which all Lenders shall be committed to have outstanding at any one time shall not exceed an amount equal to (i) the aggregate amount of the Tranche A Commitments minus (ii) the stated amount of all outstanding Tranche A Letters of Credit; and (b) the Issuing Bank agrees to issue Letters of Credit at the request of and for the account of the Company (the "Tranche A Letters of Credit") from time to time before the Commitment Termination Date and, as more fully set forth in Section 2.6, each Lender agrees to purchase a participation in each such Tranche A Letter of Credit, provided that the aggregate Stated Amount of all Tranche A Letters of Credit shall not at any time exceed the lesser of (i) $15,000,000 or (ii) an amount equal to (A) the aggregate amount of the Tranche A Commitments minus (B) the aggregate amount of all outstanding Tranche A Loans. Commencing on the Amendment Effective Date, up to $200,000,000 of the Tranche A Commitment shall be available to the Company for issuance of Letters of Credit and Loans. Upon (a) the Canadian Acquisition Date, up to $450,000,000 of the Tranche A Commitment shall be available to the Company and (b) the date on which both the Canadian Acquisition Date and the Tranche D Availability Date have occurred, up to $900,000,000 of the Tranche A Commitment shall be available to the Company.
Tranche A Commitment. Pursuant to the Original Loan Agreement, Lenders agreed to make available one or more term loans in an aggregate principal amount of up to Ten Million Dollars ($10,000,000) (the “Tranche A Commitment”). The Tranche A Commitment expired and no advances were made pursuant thereto.
Tranche A Commitment. Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender with a Tranche A Commitment severally agrees to make a term loan (the "Tranche A Term Loan") to the Borrower on the Restatement Effective Date in such principal amount as the Borrower shall request up to, but not exceeding, such Lender's Tranche A Commitment.
