Working Capital Loan Commitments Sample Clauses

Working Capital Loan Commitments. Upon the terms, subject to the conditions and in reliance upon the representations and warranties of Borrower set forth in this Agreement and in the other Credit Documents, each Working Capital Lender severally agrees, in accordance with this SECTION 2, to make Working Capital Loans to Borrower (a "Working Capital Loan and collectively, the "Working Capital Loans"), in such Lender's Working Capital Loan Commitment Percentage of each borrowing of Working Capital Loans from time to time during the Working Capital Loan Commitment Period on a revolving basis in an aggregate
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Working Capital Loan Commitments. (i) Subject to the terms and conditions of this Agreement and relying on the representations and warranties set forth herein, each Working Capital Lender severally agrees to make Working Capital Advances to the Borrower, during the Working Capital Loan Availability Period on any Working Capital Loan Funding Date, in an amount equal to its Pro Rata Share of the Working Capital Loan requested to be made on such date, but in no event shall the sum of (x) any Working Capital Advance made by any Working Capital Lender as of any date, plus (y) the aggregate principal amount of Working Capital Advances previously made by such Working Capital Lender that remain outstanding and unpaid as of such date, plus (z) such Working Capital Lender's ConEd Letter of Credit Exposure on such date, exceed such Working Capital Lender's Working Capital Loan Commitment. As of any date, the aggregate amount of all Working Capital Advances made by all Working Capital Lenders hereunder and that remain outstanding and unpaid from time to time plus the aggregate amount of all ConEd Letter of Credit Exposure on such date, shall not in any event exceed the Maximum Working Capital Loan Amount. Unless earlier terminated in accordance herewith, the Working Capital Loan Commitments shall terminate in their entirety on the Final Maturity Date. Subject to the terms hereof, Working Capital Loans that are repaid prior to the Final Maturity Date may be reborrowed.
Sample 1
Working Capital Loan Commitments. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of Borrower herein set forth, each Lender hereby severally agrees to (i) convert the Existing Working Capital Loans, if any, made by such Lender and outstanding on the Restatement Effective Date and to maintain such Existing Working Capital Loans as Working Capital Loans under this Agreement and (ii) lend to Borrower from time to time during the period from the Restatement Effective Date to but excluding the Expiry Date Working Capital Loans in an aggregate amount equal to (a) such Lender's Pro Rata Share of the aggregate Working Capital Loan Commitments minus (b) the aggregate amount of converted Existing Working Capital Loans of such Lender converted pursuant to clause (i) above then outstanding. Each Lender's commitment to convert and make Working Capital Loans to Borrower pursuant to this subsection 2.2A is herein called its "Working Capital Loan Commitment" and such commitments of all Lenders in the aggregate are herein called the "Working Capital Loan Commitments". The original amount of each Lender's Working Capital Loan Commitment is set forth on Schedule 1.1C annexed hereto and the aggregate initial amount of the Working Capital Loan Commitments is $80,000,000. Each Lender's Working Capital Loan Commitment shall expire on the Expiry Date and all Working Capital Loans and all other amounts owed hereunder with respect to the Working Capital Loans shall be paid in full no later than that date; provided that each Lender's Working Capital Loan Commitment shall expire immediately and without further action on the Restatement Effective Date if the Tranche A Term Loans and Tranche B Term Loans are not made in the full amount of the Tranche A Term Loan Commitments and Tranche B Term Loan Commitments, respectively on that date. The amount of the Working Capital Loan Commitments shall be reduced by the amount of all reductions thereof made pursuant to subsections 2.5A, 2.5F and 2.5G through the date of determination. In no event shall the aggregate outstanding principal amount of the Working Capital Loans from any Lender (whether converted or made hereunder) at any time exceed its Working Capital Loan Commitment then in effect. Subject to subsection 2.7D and except to the extent necessary to give effect to the conversion of Existing Working Capital Loans, all Working Capital Loans under this Agreement shall be made by Lenders simultaneously and propo...
Sample 1
Working Capital Loan Commitments. During the Working Capital Availability Period, on the terms and subject to the conditions of this Agreement and in reliance upon the representations, warranties and covenants of Borrower contained herein, each Working Capital Lender severally agrees to make one or more Working Capital Loans to Borrower on one or more Working Capital Loan Funding Dates in an amount not exceeding its Pro Rata Share of the Aggregate Working Capital Loan Commitment.
Sample 1
Working Capital Loan Commitments. (a) Subject to the terms and conditions of this Agreement, each Bank severally agrees to make loans (the "WORKING CAPITAL LOANS") to the Company at any time and from time to time during the Commitment Period, in an aggregate principal amount at any one time outstanding not to exceed such Bank's Working Capital Commitment; PROVIDED that no Bank shall have an obligation to make any Working Capital Loan if, after giving effect to the making (and the use of proceeds) thereof, (x) the Available Working Capital Commitment of such Bank would be less than zero or (y) the Aggregate Outstanding Working Capital Extensions of Credit would exceed such Bank's Commitment Percentage of the Borrowing Base. The Working Capital Loans may from time to time be either (a) Alternate Base Rate Loans, (b) Eurodollar Loans or (c) a combination thereof, as determined by the Company and notified to the Agent in accordance with subsection 2.3 and 6.8 hereof; PROVIDED that no Working Capital Loan shall be made as a Eurodollar Loan after the day that is one month prior to the Commitment Termination Date. The Company may use the Working Capital Commitment by borrowing, prepaying the Working Capital Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions of this Agreement.
Sample 1
Working Capital Loan Commitments. On the terms and subject to the conditions of this Financing Agreement and in reliance upon the representations, warranties and covenants of the Borrower contained herein, each Revolving Credit Lender severally agrees to make one or more Working Capital Loans to the Borrower on one or more Working Capital Loan Funding Dates in an amount not exceeding its Pro Rata Share of the Aggregate Working Capital Loan Commitment. At no time may the aggregate amount of outstanding Working Capital Loans exceed the Aggregate Working Capital Loan Commitment and at no time may the Aggregate Revolving Credit Exposure exceed the Aggregate Revolving Credit Commitment.
Sample 1
Working Capital Loan Commitments. Subject to the terms and conditions -------------------------------- hereof, and provided that no Default or Event of Default shall have occurred and be continuing, each Bank severally agrees to make Working Capital Loans to the Company, from time to time during the Commitment Period, in an aggregate principal amount at any one time outstanding not to exceed the amount of such Bank's Available Working Capital Loan Commitment. During the Commitment Period, the Company may use the Working Capital Loan Commitments by borrowing, prepaying the Working Capital Loans in whole or in part, and reborrowing in accordance with the terms and conditions hereof.
Sample 1
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Related to Working Capital Loan Commitments

  • Term Loan Commitments Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a term loan (the “Term Loan”) to the Borrower on the Closing Date in such principal amount as the Borrower shall request up to, but not exceeding such Lender’s Term Loan Commitment.

  • Term Loan Commitment As to each Term Loan Lender, the amount equal to such Term Loan Lender’s Term Loan Commitment Percentage of the aggregate principal amount of the Term Loans from time to time outstanding to the Borrower.

  • Loan Commitments Subject to the terms and conditions hereof,

  • Revolving Loan Commitments Lender will make loans to Borrower on a revolving basis (“Revolving Loans”) from time to time and Borrower may repay such loans from time to time until the Termination Date in such amounts as Borrower may request from Lender; provided, that after giving effect to such Revolving Loans, the Revolving Loans outstanding will not at any time exceed the Borrowing Availability.

  • Loan Commitment Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Company herein set forth, the Lender hereby agrees to lend to the Company on the Closing Date and thereafter up to $16,000,000 in the aggregate (the "Loan") consisting of $8,000,000 of 7-year Tranche advances and $8,000,000 of 10-year Tranche advances. The Lender's commitment to make the Loan to the Company pursuant to this Section 2.1 is herein called the "Loan Commitment."

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.

  • Revolving Loan Facility On the terms and subject to the conditions of this Agreement, each Revolving Lender severally agrees to advance to the Borrower from time to time during the period beginning on the Effective Date up to, but not including the Termination Date, such loans in Dollars as the Borrower may request under this Section 2.01(b) (individually, a “Revolving Loan”); provided, however, that (i) the sum of (A) the Effective Amount of all Revolving Loans made by such Lender at any time outstanding and (B) such Lender’s Revolving Proportionate Share of the Effective Amount of all L/C Obligations and all Swing Line Loans at any time outstanding shall not exceed such Lender’s Revolving Loan Commitment at such time and (ii) the sum of (A) the Effective Amount of all Revolving Loans made by all of the Revolving Lenders at any time outstanding and (B) the Effective Amount of all L/C Obligations and Swing Line Loans at any time outstanding shall not exceed the Revolving Loan Facility at such time. All Revolving Loans shall be made on a pro rata basis by the Revolving Lenders in accordance with their respective Revolving Proportionate Shares, with each Revolving Loan Borrowing to be comprised of a Revolving Loan by each Revolving Lender equal to such Lender’s Revolving Proportionate Share of such Revolving Loan Borrowing. Except as otherwise provided herein, the Borrower may borrow, repay and reborrow Revolving Loans until the Termination Date in respect of the Revolving Loan Facility.

  • Term Loan Facility Each Lender severally agrees, on the terms and conditions set forth herein, to make Loans to the Borrower during the period from the Closing Date to June 12, 2009, in an aggregate amount not to exceed such Lender’s Pro Rata Share of the Term Commitment. The Borrower from time to time may borrow under the Term Loan Facility (and may reborrow any amount theretofore prepaid) until close of business on June 12, 2009, for a term not to exceed 364 days from the date of the Borrowing. Each such loan under the Term Loan Facility (a “Term Loan”) shall be in the minimum amount of $10,000,000 and shall become due and payable on the last day of the term selected by the Borrower for such Term Loan (the “Term Loan Maturity Date”), which shall in no event be later than 364 days from the date of such Term Loan. The maximum availability under the Term Loan Facility shall be the amount of the Credit minus the aggregate outstanding principal amount of Revolving Loans and Term Loans made by the Lenders; provided, however, that to the extent the proceeds of a Term Loan are used to repay an outstanding Revolving Loan (or a portion thereof), such Revolving Loan (or portion thereof) shall not be considered part of the aggregate principal amount of outstanding Revolving Loans made by the Lenders for purposes of this sentence (such maximum availability hereafter being referred to as the “Term Loan Availability”). Under no circumstances shall the aggregate outstanding principal amount of Term Loans and Revolving Loans made by the Lenders exceed the Credit, and under no circumstances shall any Lender be obligated (i) to make any Term Loan (nor may the Borrower reborrow any amount heretofore prepaid) after June 12, 2009, or (ii) to make any Term Loan in excess of the Term Loan Availability. Each Term Loan made hereunder shall fully and finally mature and be due and payable in full on the Term Loan Maturity Date specified in the Borrowing Advice for such Term Loan; provided, however, that to the extent the Borrowing Advice for any Term Loan selects an Interest Period that expires before the Term Loan Maturity Date specified in such Borrowing Advice, the Borrower may from time to time select additional interest rate options and Interest Periods (none of which shall extend beyond the Term Loan Maturity Date for such Term Loan) by delivering a Borrowing Advice or Notice of Conversion/Continuation, as applicable.

  • Swing Loan Commitment (a) Subject to the terms and conditions set forth in this Agreement, the Swing Loan Lender agrees to lend to the Borrower (the “Swing Loans”), and the Borrower may borrow (and repay and reborrow), in Dollars only, from time to time between the Closing Date and the date which is five (5) Business Days prior to the Revolving Credit Maturity Date upon notice by the Borrower to the Swing Loan Lender given in accordance with this §2.5, such sums as are requested by the Borrower for the purposes set forth in §2.9 in an aggregate principal amount at any one time outstanding not exceeding the Swing Loan Commitment; provided that in all events (i) no Default or Event of Default shall have occurred and be continuing; (ii) the outstanding principal amount of the Revolving Credit Loans and Swing Loans (after giving effect to all amounts requested) plus the Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment, and (iii) the sum of (A) the outstanding principal amount of the Revolving Credit Loans, Term Loans and Swing Loans, plus the Letter of Credit Liabilities and (B) the aggregate amount of all other Unsecured Indebtedness of REIT and its Subsidiaries shall not cause a violation of the covenants set forth in §§9.3, or 9.4. Notwithstanding anything to the contrary contained in this §2.5, the Swing Loan Lender shall not be obligated to make any Swing Loan at a time when any other Revolving Credit Lender is a Defaulting Lender, unless the Swing Loan Lender is satisfied that the participation therein will otherwise be fully allocated to the Revolving Credit Lenders that are Non-Defaulting Lenders consistent with §2.13(c) and the Defaulting Lender shall not participate therein, except to the extent the Swing Loan Lender has entered into arrangements with the Borrower or such Defaulting Lender that are satisfactory to the Swing Loan Lender in its good faith determination to eliminate the Swing Loan Lender’s Fronting Exposure with respect to any such Defaulting Lender, including the delivery of cash collateral. Swing Loans shall constitute “Revolving Credit Loans” for all purposes hereunder. The funding of a Swing Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in §11 have been satisfied on the date of such funding. The Swing Loan Lender may assume that the conditions in §11 have been satisfied unless the Swing Loan Lender has received written notice from a Revolving Credit Lender that such conditions have not been satisfied. Each Swing Loan shall be due and payable within five (5) Business Days of the date such Swing Loan was provided and the Borrower hereby agrees (to the extent not repaid as contemplated by §2.5(d)) to repay each Swing Loan on or before the date that is five (5) Business Days from the date such Swing Loan was provided. A Swing Loan may not be refinanced with another Swing Loan.

  • Incremental Revolving Commitments (a) The Borrower may on one or more occasions, by written notice to the Administrative Agent, request during the Revolving Commitment Period the establishment of Incremental Revolving Commitments, provided that the aggregate amount of all the Incremental Revolving Commitments to be established hereunder on any date shall not exceed the Incremental Amount as of such date. Each such notice shall specify (i) the date on which the Borrower proposes that the Incremental Revolving Commitments shall be effective, which shall be a date not less than 10 Business Days (or such shorter period as may be agreed to by the Administrative Agent) after the date on which such notice is delivered to the Administrative Agent, (ii) the amount of the Incremental Revolving Commitments being requested (which shall be an amount not less than $5,000,000) and (iii) the identity of each Person proposed to become an Incremental Revolving Lender in connection therewith (it being agreed that (x) any Lender approached to provide any Incremental Revolving Commitment may elect or decline, in its sole discretion, to provide such Incremental Revolving Commitment and (y) any Person that the Borrower proposes to become an Incremental Revolving Lender, if such Person is not then a Lender, must be an Eligible Assignee and, if such approval would then be required under Section 10.6(c) for an assignment to such Person of a Commitment or Loan, must be approved by the Administrative Agent, each Issuing Bank and the Swing Line Lender (such approval not to be unreasonably withheld or delayed)).

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