Examples of Credit Facility Committed Amount in a sentence
Reduction of the Revolving Credit Facility Committed Amount shall be made by providing not less than five (5) Business Days’ notice (which notice shall be irrevocable) to such effect to the Lender.
The Lender’s Revolving Credit Facility Committed Amount, the unpaid principal amount of the Loans, Letter of Credit Obligations, the unpaid interest accrued thereon, the interest rate or rates applicable to such unpaid principal amount, the duration of such applicability, the Revolving Unused Fee and the Letter of Credit Fee shall at all times be ascertained from the records of the Lender, which shall be conclusive absent manifest error.
The Borrower may from time to time prior to the Revolving Credit Facility Maturity Date reduce the Revolving Credit Facility Committed Amount of the Lender to an aggregate amount not less than the sum of the unpaid principal amount of the Revolving Credit Facility Loans then outstanding plus the principal amount of all Revolving Credit Facility Loans not yet made as to which notice has been given by the Borrower plus all Letter of Credit Obligations; provided that there shall be no Default.
Advances shall be made by the Lenders on a pro rata basis based on their pro rata shares of the Credit Facility Committed Amount.
On or before May 1, 2002, the Principal Sum outstanding under the Credit Facility shall be permanently reduced by not less than $10,000,000 and such reduced Principal Sum shall then constitute the Credit Facility Committed Amount.
Subject to and upon the provisions of this Agreement, and as a part of the Credit Facility Committed Amount, the Borrower may, upon the prior approval of the Administrative Agent, obtain standby letters of credit (as the same may from time to time be amended, supplemented or otherwise modified, each a "Letter of Credit" and collectively the "Letters of Credit") from any Lender selected by the Borrowers from time to time until the Banking Day preceding the Revolving Credit Termination Date.
The foregoing notwithstanding, the Agent and SouthTrust Bank, National Association shall agree that provided no Event of Default has occurred and is continuing, they will retain their original committed amounts until the earlier of nine (9) months following the date of this Agreement or the date on which an additional $75,000,000 has been added to the Credit Facility Committed Amount.
During such time as there are additional Lenders in the Bank Group, all decisions to be made by the Lenders in connection with the Credit Facility (including the decision to include a Facility as an Eligible Project in the Borrowing Base) will require an affirmative vote of the Lenders holding at least 66.67% of the pro rata shares of the Credit Facility Committed Amount.
No fee shall be charged in connection with the Annual Guidance Facility; provided, however, that if the Lender agrees to make Annual Guidance Facility Loans to increase the Revolving Credit Facility Committed Amount, an origination fee equal to fifty (50) basis points of the increased amount(s) shall be due and payable to the Lender.
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