Common use of Working Capital Revolver Clause in Contracts

Working Capital Revolver. (i) Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “WC Revolver Loan”) to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s WC Revolver Commitment; provided, however, that after giving effect to any Borrowing of a WC Revolver Loan, (i) the Total WC Revolver Outstandings shall not exceed the lesser of (1) the Total WC Revolver Commitment as in effect on such date and (2) the Borrowing Base at such time, and (ii) the aggregate Outstanding Amount of the WC Revolver Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Lender’s WC Revolver Commitment. Within the limits of each Lender’s WC Revolver Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.1(a), prepay under Section 2.4, and reborrow under this Section 2.1(a). WC Revolver Loans may be Base Rate Loans, Cost of Funds Rate Loans or Eurodollar Rate Loans, as further provided herein.

Appears in 1 contract

Samples: Credit Agreement (Global Partners LP)

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Working Capital Revolver. (i) Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a "WC Revolver Loan") to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s 's WC Revolver Commitment; provided, however, that after giving effect to any Borrowing of a WC Revolver Loan, (i) the Total WC Revolver Outstandings shall not exceed the lesser of (1) the Total WC Revolver Commitment as in effect on such date and (2) the Borrowing Base at such time, and (ii) the aggregate Outstanding Amount of the WC Revolver Loans of any Lender, plus such Lender’s 's Applicable Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Lender’s 's WC Revolver Commitment. Within the limits of each Lender’s 's WC Revolver Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.1(a2(a), prepay under Section 2.4, and reborrow under this Section 2.1(a2(a). WC Revolver Loans may be Base Rate Loans, Cost of Funds Rate Loans or Eurodollar Rate Loans, as further provided herein.

Appears in 1 contract

Samples: Credit Agreement (Global Partners LP)

Working Capital Revolver. (i) Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a “WC Revolver Loan”) to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s WC Revolver Commitment; provided, however, that after giving effect to any Borrowing of a WC Revolver Loan, Loan (i) the Total WC Revolver Outstandings shall not exceed the lesser of (1) the Total WC Revolver Commitment as in effect on such date and (2) the Borrowing Base at such time, and (ii) the aggregate Outstanding Amount of the WC Revolver Loans of any Lender, plus such Lender’s Applicable Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Lender’s WC Revolver Commitment. Within the limits of each Lender’s WC Revolver Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.1(a), prepay under Section 2.4, and reborrow under this Section 2.1(a). WC Revolver Loans may be Base Rate Loans, Cost of Funds Rate Loans or Eurodollar Rate Loans, as further provided herein.

Appears in 1 contract

Samples: Credit Agreement (Global Partners LP)

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Working Capital Revolver. (i) Subject to the terms and conditions set forth herein, each Lender severally agrees to make loans (each such loan, a "WC Revolver Loan") to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s 's WC Revolver Commitment; provided, however, that after giving effect to any Borrowing of a WC Revolver Loan, (i) the Total WC Revolver Outstandings shall not exceed the lesser of (1) the Total WC Revolver Commitment as in effect on such date and (2) the Borrowing Base at such time, and (ii) the aggregate Outstanding Amount of the WC Revolver Loans of any Lender, plus such Lender’s 's Applicable Percentage of the Outstanding Amount of all L/C Obligations shall not exceed such Lender’s 's WC Revolver Commitment. Within the limits of each Lender’s 's WC Revolver Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.1(a2(a), prepay under Section 2.42.04, and reborrow under this Section 2.1(a2(a). WC Revolver Loans may be Base Rate Loans, . Cost of Funds Rate Loans or Eurodollar Rate Loans, as further provided herein.

Appears in 1 contract

Samples: Credit Agreement (Global Partners LP)

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