Common use of U.S. Revolving Credit Commitments Clause in Contracts

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. (b) The U.S. Revolving Credit Loans shall be denominated in U.S. Dollars and may from time to time be Eurodollar Loans or U.S. Base Rate Loans, as determined by the U.S. Borrower and notified to the General Administrative Agent pursuant to Sections 2.5 and 7.2. (c) The U.S. Borrower shall repay all outstanding U.S. Revolving Credit Loans on the U.S. Revolving Credit Termination Date.

Appears in 2 contracts

Samples: Credit and Guarantee Agreement (SMTC Corp), Credit and Guarantee Agreement (SMTC Corp)

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U.S. Revolving Credit Commitments. (a) 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 Lenders severally agree Commitment, subject to make revolving credit loans ("any reductions thereof pursuant to the terms hereof, before the Termination Date. The sum of the aggregate principal amount of U.S. Revolving Credit Loans") to the , Swing Loans, and U.S. Borrower from --------------------------- L/C Obligations at any 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 outstanding shall not exceed the Borrowing Base lesser of the U.S. Borrower. During the U.S. Revolving Credit Commitment Period the U.S. Borrower may use (i) the U.S. Revolving Credit Commitments by borrowing, prepaying in effect at such time and (ii) the U.S. Revolving Credit Loans Borrowing Base as then determined and Swing Line Loans in whole or in part, and reborrowing, and by causing the insurance computed. Each Borrowing of U.S. Letters 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 Credit pursuant 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 Section 6, all in accordance with the terms and conditions hereof. The All U.S. Revolving Loans outstanding under the Existing Credit Loans Agreement on the Closing Date shall be denominated in U.S. Dollars and may from time to time be Eurodollar Loans or Base Rate Loans, remain outstanding 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 initial Borrowing of 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 DateLoans under this Agreement. (b) The U.S. Revolving Credit Loans shall be denominated in U.S. Dollars and may from time to time be Eurodollar Loans or U.S. Base Rate Loans, as determined by the U.S. Borrower and notified to the General Administrative Agent pursuant to Sections 2.5 and 7.2. (c) The U.S. Borrower shall repay all outstanding U.S. Revolving Credit Loans on the U.S. Revolving Credit Termination Date.

Appears in 2 contracts

Samples: Multicurrency Credit Agreement (Fenix Parts, Inc.), Multicurrency Credit Agreement (Fenix Parts, Inc.)

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U.S. Revolving Credit Commitments. (a) Subject to On the terms and --------------------------------- conditions hereof, the U.S. Revolving Credit Lenders severally agree to make revolving credit loans ("U.S. Revolving Credit Loans") subject to the U.S. Borrower from --------------------------- time to time during the U.S. Revolving Credit Commitment Period so long asconditions contained in this Agreement, after giving effect thereto, (A) the Available U.S. Revolving Credit Commitment of each U.S. Revolving Credit Lender would be equal severally, but not jointly, agrees to or greater than zero and make loans in Dollars (B) the Aggregate each a “U.S. Revolving Extensions of Credit would not exceed Loan”) to the Borrowing Base of Borrower from time to time on any Business Day during the U.S. Borrower. During period from the date hereof until the U.S. Revolving Credit Commitment Period Termination Date in an aggregate principal amount at any time outstanding not to exceed the amount set forth opposite such Lender’s name on Annex I under the heading “U.S. Revolving Loan Commitments” (as such amounts may be adjusted from time to time as a result of assignments to or from such Lender permitted hereunder, referred to herein as such Lender’s “U.S. Revolving Credit Commitment”); provided, however, that at no time shall any U.S. Revolving Credit Lender be obligated to make a U.S. Revolving Loan in excess of such Lender’s Pro Rata Share of the lesser of (i) the U.S. Borrower Revolving Borrowing Base and (ii) the amount by which the then-effective U.S. Revolving Credit Commitments exceeds the aggregate U.S. Revolving Credit Outstandings at such time. Within the limits set forth in the first sentence of this clause (a), amounts of U.S. Revolving Loans repaid may use be reborrowed under this Section 2.1. The aggregate amount of 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. (b) The U.S. Revolving Credit Loans shall be denominated in U.S. Dollars and may from time to time be Eurodollar Loans or U.S. Base Rate Loans, as determined by the U.S. Borrower and notified to the General Administrative Agent pursuant to Sections 2.5 and 7.2. (c) The U.S. Borrower shall repay all outstanding U.S. Revolving Credit Loans on the U.S. Revolving Credit Termination DateSecond Amendment Effective Date equals $25,000,000.

Appears in 1 contract

Samples: Credit Agreement (Hill International, Inc.)

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