Facility B Revolving Loans definition

Facility B Revolving Loans has the meaning assigned to such term in Section 2.01.

Facility B Revolving Loans in euros to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which (i) does not exceed such Lender’s Facility B Commitment and (ii) will not result in such Lender’s Revolving Credit Exposure exceeding the amount of such Lender’s Revolving Commitment. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Facility B Revolving Loans.

Facility B Revolving Loans and, together with the Facility A Revolving Loans, the “Revolving Loans”) made to the Facility B Borrower in the aggregate amount of * (the “Facility B Maximum Amount”). The aggregate principal amount of Facility B Revolving Loans at any time outstanding shall not exceed at any time the Facility B Maximum Amount. Facility B Loans shall bear interest at the Facility B Interest Rate. The proceeds of Facility B shall be used for the sole purpose of paying operating expenses of Facility B Borrower (but specifically excluding Technology Maintenance Fees (as defined in the JV Agreement) payable to Solazyme, Inc.). Facility B loans shall be repaid with cash distributions from the Facility A Borrower to the Facility B Borrower, prior to any distributions being made by the Facility B Borrower under Section 4.8 of the JV Agreement.

Examples of Facility B Revolving Loans in a sentence

• If no election as to the Type of Borrowing of Revolving Loans is specified, then (A) a Borrowing of Facility A Revolving Loans or Canadian Revolving Loans requested in dollars shall be an ABR Borrowing, (B) a Borrowing of Canadian Revolving Loans requested in Canadian Dollars shall be a Canadian Prime Rate Borrowing and (C) a Borrowing of Facility B Revolving Loans other than Canadian Revolving Loans shall be a Eurocurrency Borrowing with an Interest Period of one month.

• Except as otherwise provided herein, Borrowers may borrow, repay and reborrow Facility B Revolving Loans until the Facility B Revolving Loan Maturity Date.

• The Company shall repay to the Banks on the Facility B Revolving Termination Date the aggregate principal amount of Facility B Revolving Loans outstanding on such date.

• Borrowers shall repay the principal amount of the Facility B Revolving Loans in full on the Facility B Revolving Loan Maturity Date.

• Each such notice shall be effective upon receipt by the Administrative Agent, shall be irrevocable, and shall specify the date, whether such borrowing is to be of Term Loans, Facility A Revolving Loans or Facility B Revolving Loans, the amount and type of borrowing and, in the case of a Eurodollar borrowing, the initial Interest Period and the Applicable Currency therefor.

• All borrowings, conversions and repayments of Facility B Revolving Loans shall be effected so that each Lender will have a pro rata share (based on its Facility B Revolving Commitments) of all types and Groups of Facility B Revolving Loans.

• Upon the request of any Lender made through the Administrative Agent, the applicable Borrower shall execute and deliver to such Lender (through the Administrative Agent) a promissory note substantially in the form of Exhibit A (each a “Note”), which shall evidence such Lender’s Term Loan, Facility A Revolving Loans or Facility B Revolving Loans in addition to such accounts or records.

• Borrowers shall use the proceeds of the Term Loans first to repay all outstanding Facility B Revolving Loans and then for their respective working capital and general corporate needs.

• Subject to Section 2.2.1, each partial prepayment of Facility A Revolving Loans and Facility B Revolving Loans shall be in a minimum amount such that the Dollar Equivalent thereof is $1,000,000 and an integral multiple of $1,000,000 in excess thereof.

• All Facility B Revolving Loans shall be made on a pro rata basis by Facility B Lenders in accordance with their respective Facility B Proportionate Shares, with each Facility B Revolving Loan Borrowing to be comprised of a Facility B Revolving Loan made by each Facility B Lender equal to such Facility B Lender's Proportionate Share of such Facility B Revolving Loan Borrowing.

More Definitions of Facility B Revolving Loans

Facility B Revolving Loans means all outstanding Facility B Loans as -------------------------- of any date from the date of this Agreement until the Facility B Revolving Termination Date.

Facility B Revolving Loans has the meaning specified in SECTION 2.1.2.