Working Capital Commitments Sample Clauses

Working Capital Commitments. Company agrees to pay to Administrative Agent, for distribution to each Working Capital Lender in proportion to that Lender's Pro Rata Share of the Working Capital Loan Commitments, commitment fees for each day during the period from and including the Closing Date to and excluding the Working Capital Loan Commitment Termination Date (or, if earlier, the date of termination of the Working Capital Loan Commitments in their entirety) on the excess on such day of the Working Capital Loan Commitments over the sum of (i) the aggregate principal amount of outstanding Working Capital Loans on such day plus (ii) the Letter of Credit Usage (but not including any outstanding Swing Line Loans) on such day at a rate per annum equal to the commitment fee percentage set forth below opposite the Consolidated Leverage Ratio as set forth in the most recent Margin Determination Certificate delivered pursuant to subsection 6.1(iv): Working Capital Loan Consolidated Leverage Ratio Commitment Fee Percentage --------------------------------------------------------------------- Greater than or equal to 5.00:1.00 0.500% Greater than or equal to 4.00:1.00 0.375% but less than 5.00:1.00 Greater than or equal to 3.00:1.00 0.300% but less than 4.00:1.00 Less than 3.00:1.00 0.250% such commitment fees to be calculated on the basis of a 360-day year and the actual number of days elapsed and to be payable quarterly in arrears on each Quarterly Date of each year, commencing on the first such date to occur after the Closing Date, and on the Working Capital Loan Commitment Termination Date; PROVIDED that until the delivery of the first Margin Determination Certificate pursuant to subsection 6.1(iv) after the six-month anniversary of the Closing Date the applicable commitment fee percentage for the Working Capital Loan Commitments shall be 0.50%. Changes in the applicable commitment fee rate for Working Capital Loan Commitments resulting from a change in the Consolidated Leverage Ratio shall become effective as provided in subsection 2.3C. In the event that Company fails to deliver a Margin Determination Certificate timely in accordance with the provisions of subsection 6.1(iv), from the time such Margin Determination Certificate was required to be delivered until such date as such a Margin Determination Certificate is actually delivered, the applicable commitment fee percentage shall be the maximum percentage amount set forth above per annum.

Working Capital Commitments. Upon the terms and subject to the conditions of this Agreement, until the Working Capital Termination Date, each Working Capital Lender agrees, severally but not jointly, to lend (and upon repayment, relend) to the Borrower, at such times and in such amounts as the Borrower shall request, up to an aggregate principal amount at any time outstanding equal to such Working Capital Lender's Working Capital Commitment Amount, subject to the following limitations: (i) the aggregate principal amount of Working Capital Advances and Working Capital Swing Line Advances at any time outstanding shall not exceed the sum of the Working Capital Commitment Amounts of all the Working Capital Lenders; (ii) the aggregate principal amount of Working Capital Advances and Working Capital Swing Line Advances at any time outstanding shall not exceed the Working Capital Borrowing Base as determined by the Administrative Agent from its records.) (iii) the principal amount of P&I Advances applied to fund any P&I Payment shall not exceed 95% of the P&I Payment Receivable resulting from such P&I Payment, and the aggregate principal amount of ▇&▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ng shall not exceed $15,000,000; (iv) the principal amount of T&I Advances applied to fund any T&I Payment shall not exceed 90% of the T&I Payment Receivable resulting from such T&I Payment, the principal amount of Foreclosure Advances applied to fund any Foreclosure Payment shall not exceed 90% of the Foreclosure Payment Receivable resulting from such Foreclosure Payment, and the total of the aggregate principal amount of T&I Advances plus the aggregate principal amount of Foreclosure Advances at any time outstanding shall not exceed $25,000,000; and (v) the principal amount of Investment Loan Advances applied to finance or refinance the origination or acquisition of any Investment Loan shall not exceed 80% of the Working Capital Collateral Value of such Investment Loan, and the aggregate principal amount of Investment Loan Advances at any time outstanding shall not exceed $5,000,000. The Working Capital Lenders shall not be obligated to make Working Capital Advances if, after giving effect thereto, any of the foregoing limitations would be exceeded. The failure of any one or more of the Working Capital Lenders to make a Working Capital Advance in accordance with its Working Capital Commitment shall not relieve the other Working Capital Lenders of their several obligations hereunder, but no Working Capital Lender ...

Working Capital Commitments. Subject to the satisfaction or waiver of each of the conditions set forth in Section 5.03, each Lender severally shall make Working Capital Advances to the Borrower commencing on the Closing Date, in an aggregate amount not to exceed the amount set forth next to such Lender's name as its "Working Capital Commitment" on Schedule 2 (the foregoing obligation to make a Working Capital Advance being hereinafter referred to as each Lender's "Working Capital Commitment"). At no time shall the aggregate principal amount of all outstanding Working Capital Advances exceed the Aggregate Working Capital Commitment. Notwithstanding the foregoing, Working Capital Advances made prior to the First Distrigas Payment Date shall be limited to $10,000,000. The Working Capital Commitment shall terminate at the close of business on the Maturity Date unless earlier terminated by the Administrative Agent pursuant to Section 8.01 following the occurrence and continuation of a Borrower Event of Default. Any Working Capital Advance or portion thereof which is prepaid or repaid may, until the date that is 15 days prior to the Maturity Date, be reborrowed.

Working Capital Commitments. Provided that CommScope shall have satisfied its obligations hereunder, including its obligations under Section 2.1 hereof, at the -6- Closing, the CTV Member shall be deemed to have made a working capital loan to the Cable JV pursuant to the terms of the loan agreement, the form of which is attached hereto as Exhibit 2.5 (the "Revolving Credit Agreement"), in an amount equal to the CommScope Working Capital Amount.

Working Capital Commitments. Subject to the limitations below and other provisions of the Loan Documents, on a revolving basis, and on Business Days before the Warehouse-Actual-Termination Date, each Lender severally agrees to provide its Commitment Percentage of Working-Capital Borrowings so long as, in each case, no Working-Capital Borrowing may be disbursed that would cause any of the following applicable limitations to be exceeded, which limitations must be read together and are not mutually exclusive: (i) The sum (without duplication) of the total Principal Debt plus the total LC Exposure may never exceed the lesser of either (A) the total Combined Commitments, or (B) the total Borrowing Base. (ii) The sum (without duplication) of the total Principal Debt of all Working-Capital Borrowings plus the total LC Exposure may never exceed the lesser of either (A) the total Working-Capital Commitments or (B) the Borrowing Base for Receivables. (iii) No Working-Capital Borrowing may be made on a day that is not a Business Day, or on or after the Warehouse-Actual-Termination Date. (iv) Each disbursement of a Working-Capital Borrowing must be at least $25,000.

Working Capital Commitments. (i) Subject to the terms and conditions hereof (including Section 2.1.3(b) and the conditions precedent set forth in Sections 3.1 and 3.2), each Working Capital Lender severally agrees to make, from time to time during the Working Capital Availability Period, Working Capital Loans to the Borrower in an amount up to such Lender's Working Capital Commitment. The aggregate principal amount of all Working Capital Loans outstanding at any time shall not exceed the difference between (A) the Working Capital Commitment at such time minus (B) the sum (without duplication) of (1) the aggregate Available Amount with respect to all Working Capital Letters of Credit then outstanding plus (2) the aggregate Unreimbursed Amount with respect to all Working Capital Letters of Credit then outstanding. Each Working Capital Lender's Working Capital Commitment shall terminate immediately and without further action on the Maturity Date with respect to the Working Capital Facility. (ii) Notwithstanding anything to the contrary herein, the sum of (A) the aggregate principal amount of all Working Capital Loans outstanding at such time, (B) the aggregate Available Amount with respect to all Working Capital Letters of Credit then outstanding and (C) the aggregate Unreimbursed Amount with respect to all Working Capital Letters of Credit then outstanding shall not exceed the then current Working Capital Commitment. (iii) The amount of each Working Capital Lender's Working Capital Commitment is set forth on Appendix A or the applicable Assignment Agreement, as the case may be, subject to any adjustment or reduction in such amount pursuant to the terms and conditions hereof. The Working Capital Commitment of each Working Capital Lender shall be reduced, on a pro rata basis, in the event that the Working Capital Commitment is reduced for any reason. The aggregate amount of the Working Capital Commitments as of the Closing Date is $80,000,000.

Working Capital Commitments