Examples of Existing Revolving Credit Loan in a sentence
No Lender shall have any obligation to agree to have any of its Revolving Credit Commitments of any Existing Revolving Credit Loan Facility converted into Extended Revolving Credit Commitments pursuant to any Extension Request or offer made pursuant to clause (e) below.
No Lender shall have any obligation to agree to have any of its Revolving Credit Commitments of any Existing Revolving Credit Loan Facility converted into Extended Revolving Credit Commitments pursuant to any Extension Request or offer made pursuant to Section 2.18(e).
Borrowers have requested that Lenders provide a revolving credit facility to consolidate and increase the Existing Revolving Credit Loan and the Existing Acquisition Loan into a single revolving credit facility, and to provide other financial accommodations, and Lenders are willing to do so on the terms and conditions set forth herein.
In connection with the Revolving Credit Loan being made pursuant to this Agreement, the Existing Revolving Credit Loan shall be terminated effective as of the date first set forth above.
The Bank shall have no further obligation to make any advances or other payments to the Borrower or any other Person pursuant to the Existing Revolving Credit Loan and all future advances in accordance with the Revolving Credit Loan shall be made pursuant to this Agreement.
The Administrative Agent shall have received evidence reasonably satisfactory to it that the Existing Revolving Credit Loan, all accrued and unpaid interest thereon, any associated breakage costs, and all accrued and unpaid commitment fees and letter of credit commissions owing by the Borrower under the Existing Facility have been paid in full.
The deemed payments of the Existing Revolving Credit Loan Borrowings made pursuant to clause (i) above shall be subject to compensation by the Borrowers pursuant to the provisions of Section 3.05 if the date of the effectiveness of such Incremental Revolving Credit Commitments occurs other than on the last day of the Interest Period relating thereto.
Notwithstanding the termination of the Existing Revolving Credit Loan, the Bank's first priority security interest in all of the Borrower's business assets shall remain perfected and in full force and effect and the Security Agreement shall be deemed an amendment to and replacement of any existing security agreement between the Borrower and the Bank.
On the Effective Date, any Lender that is a lender under the Existing Credit Agreement shall make a Revolving Credit Loan to the Borrower by converting all of the outstanding principal amount of any Existing Revolving Credit Loan held by such Lender into a Revolving Credit Loan in a principal amount equal to the aggregate principal amount of the Existing Revolving Credit Loans so converted (each such Existing Term Loan, a “Converted Existing Revolving Credit Loan”).
Use the proceeds of the Credit Extensions to refinance and consolidate the Existing Revolving Credit Loan and the Existing Acquisition Term Loan, for working capital and other corporate purposes not in contravention of any Law or of any Loan Document; provided, however, that, unless the Required Lenders otherwise consent thereto in writing, not more than an aggregate amount of $10,000,000 in Loan proceeds may be used to finance Permitted Acquisitions.