Tranche B Commitments. At any time and from time to time on and after the Effective Date and prior to June 30, 1999, the Company may request one or more Banks or other lending institutions to assume a Tranche B Revolving Loan Commitment and to make Tranche B Revolving Loans to the Company as provided in Section 1.01(c) and, in the sole discretion of each such Bank or other institution, any such Bank or other institution may agree to so commit; provided that (i) no Default or Event of Default then exists, (ii) the increase in the Total Tranche B Revolving Loan Commitment pursuant to any such request shall be in an aggregate amount of at least $50,000,000 and (iii) after giving effect to each such increase, the Total Tranche B Revolving Loan Commitment shall not exceed $250,000,000. The Company and each such Bank or other lending institution (each an "Assuming Bank") which agrees to commit to make Tranche B Revolving Loans shall execute and deliver to the Administrative Agent a Tranche B Assumption Agreement substantially in the form of Exhibit B (with the increase in, or in the case of a new Assuming Bank, assumption of, such Bank's Tranche B Revolving Loan Commitment to be effective upon delivery of such Tranche B Assumption Agreement to the Administrative Agent). The Administrative Agent shall promptly notify each Bank as to the occurrence of the Initial Tranche B Assumption Date and as to each Additional Tranche B Assumption Date occurring thereafter. On each Tranche B Assumption Date, (x) Annex I shall be deemed modified to reflect the revised Tranche B Revolving Loan Commitments of such Banks, and (y) the Company shall pay to each such Assuming Bank such up front fee (if any) as may have been agreed between the Company and such Assuming Bank. Notwithstanding anything to the contrary contained in this Agreement, in connection with any increase in the Total Tranche B Revolving Loan Commitment after the Initial Tranche B Assumption Date, the Company shall, in coordination with the Administrative Agent and the Banks with Tranche B Revolving Loan Commitments, repay outstanding Tranche B Revolving Loans of certain Banks and, if necessary, incur additional Tranche B Revolving Loans from other Banks, in each case so that such Banks participate in each Borrowing of Tranche B Revolving Loans pro rata on the basis of their Tranche B Revolving Loan Commitments (after giving effect to any increase thereof). It is hereby agreed that any breakage costs of the type described in Section 1.11...
Tranche B Commitments. Subject to the terms and conditions set forth herein, each Tranche B Lender agrees (i) to make Tranche B Revolving Loans denominated in US Dollars, Sterling and Euro to the Tranche B Borrowers other than the Canadian Borrowing Subsidiaries, (ii) to make Tranche B Revolving Loans denominated in US Dollars and Canadian Dollars to the Canadian Borrowing Subsidiaries and (iii) to accept and purchase drafts drawn by Canadian Borrowing Subsidiaries in Canadian Dollars as BAs, in each case from time to time during the Availability Period in an aggregate principal or face amount at any time outstanding that will not result in (A) the aggregate Tranche B Revolving Credit Exposures exceeding the aggregate Tranche B Commitments or (B) the Tranche B Revolving Credit Exposure of any Lender exceeding its Tranche B Commitment. Within the foregoing limits and subject to the terms and conditions set forth herein, the Tranche B Borrowers may borrow, prepay and reborrow Tranche B Revolving Loans and issue and sell drafts drawn as BAs.
Tranche B Commitments. From and including the Closing Date and prior to the Termination Date, each Tranche B Lender severally agrees, on the terms and conditions set forth in this Agreement, to make Tranche B Loans to any Borrower in Agreed Currencies from time to time in a principal amount not to exceed in the aggregate at any one time outstanding for all of the Borrowers the Dollar Amount of its Tranche B Commitment; provided that (a) all Tranche B Loans that are Base Rate Loans or Same Day Dollar Loans shall be made in Dollars, (b) the Dollar Amount of the outstanding principal of Tranche B Loans and Swing Loans shall not at any time exceed the Total Tranche B Commitment and (c) the Total Exposure of such Tranche B Lender shall not exceed the Dollar Amount of such Tranche B Lender’s Tranche B Commitment. Subject to the terms of this Agreement, any Borrower may borrow, repay and reborrow Tranche B Loans at any time prior to the Termination Date. The Tranche B Commitments shall expire on the Termination Date.
Tranche B Commitments. Any part of the Tranche B Commitments not utilised under this agreement before the expiry of the Tranche B Availability Period will be cancelled automatically on the expiry of the Tranche B Availability Period.
Tranche B Commitments. Subject to the terms and conditions of this Agreement, the Canadian Lender agrees to make Canadian Advances to the Company from time to time from the Effective Date until the Termination Date on any Business Day up to an aggregate principal amount outstanding at any one time which may not exceed the Equivalent Amount of US$5,000,000 ("Canadian Dollar Limit").
Tranche B Commitments. Subject to the terms and conditions set forth herein, each Tranche B Lender agrees to make Tranche B Revolving Loans denominated in U.S. Dollars or in any Committed Alternative Currency to any Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (i) such Tranche B Lender’s Tranche B Revolving Credit Exposure exceeding such Tranche B Lender’s Tranche B Commitment or (ii) the sum of the total Tranche B Revolving Credit Exposures plus the aggregate principal amount of outstanding Tranche B Competitive Loans exceeding the total Tranche B Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, a Borrower may borrow, prepay and reborrow Tranche B Revolving Loans.
Tranche B Commitments. On and subject to the terms and conditions of this Reimbursement and Pledge Agreement, (a) each of the Tranche B Lenders, severally and for, itself alone, agrees to make Loans in Dollars to the Parent on a revolving basis from time to time before the Tranche B Commitment Termination Date in such Tranche B Lender’s Tranche B Commitment Percentage of such aggregate amounts, as the Parent may from time to time request, provided, however, that after giving effect to the requested Loan the aggregate principal amount of all Loans shall not exceed the Loan Sublimit, (b) each Issuing Bank agrees to issue, extend and renew for the account of Mont Re one or more standby letters of credit (a “Tranche B Letter of Credit”) from time to time before the Tranche B Commitment Termination Date and (c) as more fully set forth in §2.2 each Tranche B Lender agrees to purchase a participation in each such Tranche B Letter of Credit, provided however, that after giving effect to any Credit Extension pursuant to this §2.1.2, (i) the sum of the Total Outstandings shall not exceed the Total Commitment, (ii) the sum of the Tranche B Outstanding Amount shall not exceed the Total Tranche B Commitment and (iii) 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 2.1.2 shall be Tranche B Letters of Credit hereunder.
Tranche B Commitments. Subject to the terms and conditions set forth herein, each Tranche B Lender severally (and not jointly) agrees to make loans to the Borrower from time to time during the period from the Effective Date through the Business Day immediately preceding the Tranche B Commitment Termination Date, provided that immediately after giving effect thereto (i) the Senior Debt Asset Coverage would not be less than 3.00:1.00, (ii) the Adjusted Senior Debt Asset Coverage would not be less than 2.50:1.00, (iii) the aggregate outstanding principal balance of all Tranche B Loans made by such Tranche B Lender would not exceed its Tranche B Commitment, (iv) the Aggregate Temporary Loan Balance would not exceed the Aggregate Tranche B Commitments, and (v) the Aggregate Loan Balance would not exceed the Borrowing Base. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Tranche B Loans.
Tranche B Commitments. Unless previously terminated, the Tranche B Commitments shall terminate on the Scheduled Tranche B Commitment Termination Date.
Tranche B Commitments. The Borrower may at any time terminate, or from time to time reduce, without premium or penalty, the Tranche B Commitments, provided that (i) the Borrower may not terminate or reduce the Tranche B Commitments if, immediately after giving effect thereto and to any concurrent repayment of the Temporary Loans in accordance with Section 2.4 or 2.5, the outstanding principal balance of the Temporary Loans would exceed the Tranche B Commitment, and (ii) each such reduction shall be in a minimum amount of $5,000,000 and in an integral multiple of $1,000,000. Each reduction of the Tranche B Commitments to an amount in the aggregate below the Swing Line Commitment Amount shall automatically reduce the Swing Line Commitment Amount on a dollar for dollar basis.
