U.S. Revolving Credit Commitments. The US Borrowers shall jointly and severally pay to the Administrative Agent for the account of and distribution to each US Revolving Lender in accordance with its US Revolving Credit Percentage a commitment fee, for the period commencing on the Closing Date to and including the Maturity Date (or such earlier date as the US Revolving Credit Commitments shall have been terminated entirely), computed at a rate per annum equal to the Applicable Margin, on the average daily excess amount of the US Revolving Credit Commitments over the US Revolving Credit Exposure. The commitment fees on the US Revolving Credit Commitments earned from and after the Closing Date shall be payable in arrears on the first Business Day of each month, commencing on June 30, 2003.
U.S. Revolving Credit Commitments. Subject to the terms and conditions hereof, each U.S. Lender, by its acceptance hereof, severally agrees to make a loan or loans (individually a “U.S. Revolving Loan” and collectively for all the U.S. Lenders the “U.S. Revolving Loans”) in U.S. Dollars to U.S. Borrower from time to time on a revolving basis up to the amount of such U.S. Lender’s U.S. Revolving Credit Commitment, subject to any reductions thereof pursuant to the terms hereof, before the Termination Date. The sum of the aggregate principal amount of U.S. Revolving Loans, Swing Loans, and U.S. L/C Obligations at any time outstanding shall not exceed the lesser of (i) the U.S. Revolving Credit Commitments in effect at such time and (ii) the U.S. Borrowing Base as then determined and computed. Each Borrowing of U.S. Revolving Loans shall be made ratably by the U.S. Lenders in proportion to their respective U.S. Revolver Percentages. As provided in Section 2.6(a), U.S. Borrower may elect that each Borrowing of U.S. Revolving Loans be either Base Rate Loans or Eurodollar Loans. U.S. Revolving Loans may be repaid and the principal amount thereof reborrowed before the Termination Date, subject to the terms and conditions hereof. All U.S. Revolving Loans outstanding under the Existing Credit Agreement on the Closing Date shall remain outstanding as the initial Borrowing of U.S. Revolving Loans under this Agreement.
U.S. Revolving Credit Commitments. Each US Revolving Lender's US Revolving Credit Exposure shall not exceed at any one time the amount set forth opposite such US Revolving Lender's name on Annex I under the caption "US Revolving Credit Commitment" (as the same may be reduced pursuant to Section 2.10 or otherwise from time to time modified pursuant to Section 10.7), its "US REVOLVING CREDIT COMMITMENT," and collectively for all US Revolving Lenders, the "US REVOLVING CREDIT COMMITMENTS"; the term "US Revolving Credit Commitments" includes the requirements of the US Revolving Lenders to purchase participations in the US Swingline Loans pursuant to Section 2.26 hereof; provided, however that the Aggregate US Revolving Credit Exposure at any one time outstanding shall not exceed the US Maximum Available Amount in effect at such time. Within the foregoing limits and subject to the conditions set forth in Article 3, the US Borrowers may obtain Borrowings of US Revolving Credit Loans, repay or prepay such US Revolving Credit Loans, and reborrow such US Revolving Credit Loans.
U.S. Revolving Credit Commitments. Each US Revolving Lender’s US Revolving Credit Exposure shall not exceed at any one time the amount set forth opposite such US Revolving Lender’s name on Annex I under the caption “US Revolving Credit Commitment” (as the same may be increased pursuant to Section 2.1(h), adjusted pursuant to Section 2.10(a), or reduced pursuant to Section 2.10(e), or otherwise from time to time modified pursuant to Section 10.7, its “US Revolving Credit Commitment,” and collectively for all US Revolving Lenders, the “US Revolving Credit Commitments”; the term “US Revolving Credit Commitments” includes the obligations of each US Revolving Lender to purchase participations in the US Swingline Loans pursuant to Section 2.26 hereof and in US Agent Advances pursuant to Section 2.28(b)); provided, however, that the Aggregate US Revolving Credit Exposure at any one time outstanding shall not exceed the US Maximum Available Amount in effect at such time, except that US Agent Advances may result in the Aggregate US Revolving Credit Exposure exceeding the amount contemplated in clause (b) of the definition of “US Maximum Available Amount” so long as the Aggregate US Revolving Credit Exposure shall not exceed the amount contemplated in clause (a) of the definition of “US Maximum Available Amount”. Within the foregoing limits and subject to Section 2.2(a) and the conditions set forth in Article 3, the US Borrowers may obtain Borrowings of US Revolving Credit Loans, repay or prepay such US Revolving Credit Loans, and reborrow such US Revolving Credit Loans.
U.S. Revolving Credit Commitments. (a) Subject to the terms and --------------------------------- conditions hereof, the U.S. Revolving Credit Lenders severally agree to make revolving credit loans ("U.S. Revolving Credit Loans") to the U.S. Borrower from --------------------------- time to time during the U.S. Revolving Credit Commitment Period so long as, after giving effect thereto, (A) the Available U.S. Revolving Credit Commitment of each U.S. Revolving Credit Lender would be equal to or greater than zero and (B) the Aggregate U.S. Revolving Extensions of Credit would not exceed the Borrowing Base of the U.S. Borrower. During the U.S. Revolving Credit Commitment Period the U.S. Borrower may use the U.S. Revolving Credit Commitments by borrowing, prepaying the U.S. Revolving Credit Loans and Swing Line Loans in whole or in part, and reborrowing, and by causing the insurance of U.S. Letters of Credit pursuant to Section 6, all in accordance with the terms and conditions hereof. The U.S. Revolving Credit Loans shall be denominated in U.S. Dollars and may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the U.S. Borrower and notified to the General Administrative Agent in accordance with Sections 2.5 and 7.2, provided that no U.S. Revolving Credit Loan shall be -------- made as a Eurodollar Loan after the day that is one month prior to the U.S. Revolving Credit Termination Date.
U.S. Revolving Credit Commitments. The US Borrowers may, upon at least five (5) Business Days' notice to the Administrative Agent, terminate at any time, or permanently reduce from time to time by an aggregate amount of at least Ten Million and 00/100 Dollars ($10,000,000.00) or any larger multiple of One Million and 00/100 Dollars ($1,000,000.00), the US Revolving Credit Commitments. Each such permanent reduction shall permanently reduce the US Banks' Revolving Credit Commitments ratably in proportion to their respective US Ratable Share of the US Revolving Credit Commitments. If the US Revolving Credit Commitments are terminated in their entirety, all accrued fees shall be payable on the effective date of such termination. The Administrative Agent shall, promptly after receipt by it of a notice pursuant to this Section 2.11.1, notify the US Banks of its receipt of such notice and the nature of the same.
U.S. Revolving Credit Commitments. The US Borrowers shall jointly and severally pay to the Administrative Agent for the account of and distribution to each US Revolving Lender in accordance with its US Revolving Credit Percentage a commitment fee, for the period commencing on the Closing Date to and including the Maturity Date (or such earlier date as the US Revolving Credit Commitments shall have been terminated entirely), computed at a rate per annum equal to (i) 0.50% on the average daily excess amount of the US Revolving Credit Commitments over the US Revolving Credit Exposure in the event the Average Monthly Excess Availability for the applicable month was less than or equal to 50% of the aggregate US Revolving Credit Commitments, and (ii) 0.75% on the average daily excess amount of the US Revolving Credit Commitments over the US Revolving Credit Exposure in the event the Average Monthly Excess Availability for the applicable month exceeded 50% of the aggregate US Revolving Credit Commitments. The commitment fees on the US Revolving Credit Commitments earned from and after the Closing Date shall be payable in arrears on the first Business Day of each month commencing after the Closing Date.
U.S. Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, each US Revolving Credit Lender severally agrees to make revolving credit loans ("US Revolving Credit Loans") to the Company from time to time during the US Revolving Credit Commitment Period in an aggregate principal amount (the "Maximum Borrowing Amount") at any one time outstanding which, when added to such US Revolving Credit Lender's US Revolving Credit Commitment Percentage of the then outstanding US L/C Obligations, does not exceed such Lender's US Revolving Credit Commitment. During the US Revolving Credit Commitment Period the Company may use the US Revolving Credit Commitments by borrowing, prepaying the US Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof.
U.S. Revolving Credit Commitments. On the terms and subject to the conditions contained in this Agreement, each U.S. Revolving Credit Lender severally agrees to make loans denominated in Dollars to the U.S. Borrower or the Luxembourg Borrower (each a “Dollar Revolving Loan”) from time to time on any Business Day during the period from the Effective Date until the Revolving Credit Termination Date in an aggregate principal amount at any time outstanding for all such loans by such U.S. Revolving Credit Lender not to exceed such U.S. Revolving Credit Lender’s U.S. Revolving Credit Commitment; provided that at no time shall any U.S. Revolving Credit Lender be obligated to make a Dollar Revolving Loan in excess of such U.S. Revolving Credit Lender’s Ratable Portion of the U.S. Revolving Available Credit. Within the limits of the U.S. Revolving Credit Commitment of each U.S. Revolving Credit Lender, amounts of Dollar Revolving Loans repaid may be reborrowed under this Section 2.1.
U.S. Revolving Credit Commitments. Subject to the terms and conditions set forth herein, the Lender agrees to make US Revolving Loans to the US Borrowers from time to time during the Availability Period for the US Revolving Credit Facility, in an aggregate amount not to exceed at any time outstanding the lesser of (x) the amount of the US Revolving Credit Facility, or (y) the Borrowing Base; subject in each case to the following limitations:
