Common use of Tranche A Revolver Loans Clause in Contracts

Tranche A Revolver Loans. Each Tranche A Lender agrees, severally on a Pro Rata basis up to its Tranche A Revolver Commitment, on the terms set forth herein, to make Tranche A Revolver Loans to Borrowers from time to time through the Commitment Termination Date. The Tranche A Revolver Loans may be repaid and reborrowed as provided herein. The Borrowers shall not request, and the Tranche A Lenders shall not advance any Tranche A Revolver Loans (other than (i) Swingline Loans as provided in Section 4.1.3 and (ii) Tranche A Revolver Loans used to reimburse a draw on a Letter of Credit as provided in Section 2.3.2) at any time when there exists any Tranche A-1 Excess Availability. Other than as set forth in Section 2.1.4 and in Section 2.1.5, the Tranche A Lenders shall not have any obligation to honor a request for a Tranche A Revolver Loan if (i) the unpaid balance of Tranche A Revolver Loans outstanding at such time (including the requested Tranche A Revolver Loan) would exceed the Tranche A Borrowing Base or (ii) the unpaid balance of all Loans outstanding at such time (including the requested Loan) would exceed Excess Availability.

Appears in 2 contracts

Samples: Loan and Security Agreement (Bon Ton Stores Inc), Loan and Security Agreement (Bon Ton Stores Inc)

AutoNDA by SimpleDocs

Tranche A Revolver Loans. Each Tranche A Lender agrees, severally on a Pro Rata basis up to its Tranche A Revolver Commitment, on the terms set forth herein, to make Tranche A Revolver Loans to Borrowers from time to time through the Commitment Termination Date. The Tranche A Revolver Loans may be repaid and reborrowed as provided herein. The Borrowers shall not request, and the Tranche A Lenders shall not advance any Tranche A Revolver Loans (other than (i) Swingline Loans as provided in Section 4.1.3 and (ii) Tranche A Revolver Loans used to reimburse a draw on a Letter of Credit as provided in Section 2.3.2) at any time when there exists any Tranche A-1 Excess Availability. Other than as set forth in Section 2.1.4 and in Section 2.1.5, the Tranche A Lenders shall not have any obligation to honor a request for a Tranche A Revolver Loan if (i) the unpaid balance of Tranche A Revolver Loans outstanding at such time and the aggregate amount of all LC Obligations outstanding at such time (including the requested Tranche A Revolver Loan) would exceed the result of (A) the Tranche A Borrowing Base at such time minus (B) the Tranche A-1 Utilization Amount or (ii) the unpaid balance of all Tranche A Revolver Loans and the aggregate amount of all LC Obligations outstanding at such time (including the requested Loan) would exceed Excess AvailabilityAvailabilitythe aggregate Tranche A Revolver Commitments at such time.

Appears in 1 contract

Samples: Loan and Security Agreement (Bon Ton Stores Inc)

AutoNDA by SimpleDocs

Tranche A Revolver Loans. Each Tranche A Lender agrees, severally on a Pro Rata basis up to its Tranche A Revolver Commitment, on the terms set forth herein, to make Tranche A Revolver Loans to Borrowers from time to time through the Commitment Termination Date. The Tranche A Revolver Loans may be repaid and reborrowed as provided herein. The Borrowers shall not request, and the Tranche A Lenders shall not advance any Tranche A Revolver Loans (other than (i) Swingline Loans as provided in Section 4.1.3 and (ii) Tranche A Revolver Loans used to reimburse a draw on a Letter of Credit as provided in Section 2.3.2) at any time when there exists any Tranche A-1 Excess Availability. Other than as set forth in Section 2.1.4 and in Section 2.1.5, the Tranche A Lenders shall not have any obligation to honor a request for a Tranche A Revolver Loan if (i) the unpaid balance of Tranche A Revolver Loans outstanding at such time and the aggregate amount of all LC Obligations outstanding at such time (including the requested Tranche A Revolver Loan) would exceed the Tranche A Borrowing Base at such time or (ii) the unpaid balance of all Loans and the aggregate amount of all LC Obligations outstanding at such time (including the requested Loan) would exceed Excess AvailabilityAvailability at such time.

Appears in 1 contract

Samples: Loan and Security Agreement (Bon Ton Stores Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.