Administration of the Credit Facility Clause Samples

The 'Administration of the Credit Facility' clause defines the procedures and responsibilities for managing and operating the credit facility provided under the agreement. It typically outlines the roles of the lender and borrower in relation to requests for advances, repayment schedules, interest calculations, and the handling of communications or notices. By establishing clear administrative processes, this clause ensures the smooth operation of the credit facility and helps prevent misunderstandings or disputes regarding its day-to-day management.
Administration of the Credit Facility. (a) Unless otherwise specified herein, the Administrative Agent shall perform the following duties under this Agreement: (i) prior to any Borrowing, provided that the Administrative Agent has received confirmation from the Borrower (by way of the delivery of a Borrower’s Certificate of Compliance or Borrowing Notice, as applicable), or the Borrower’s counsel (if appropriate), that the conditions in Sections 10.1 and 10.2 have been complied with, as applicable, advise the Lenders that all conditions precedent have been fulfilled in accordance with the terms of this Agreement, subject to Subsection 12.9(b) and any other applicable terms of this Agreement; (ii) use reasonable efforts to collect promptly all sums due and payable by the Borrower pursuant to this Agreement; (iii) hold all legal documents relating to the Credit Facility, maintain complete and accurate records showing all Advances made by the Lenders, all remittances and payments made by the Borrower to the Administrative Agent, all remittances and payments made by the Administrative Agent to the Lenders and all fees or any other sums received by the Administrative Agent and, except for accounts, records and documents relating to the fees payable under any separate fee agreement, allow each Lender and their respective advisers to examine such accounts, records and documents at their own expense, and provide any Lender, upon reasonable notice, with such copies thereof as such Lender may reasonably require from time to time at the Lender’s expense; (iv) except as otherwise specifically provided for in this Agreement, promptly advise each Lender upon receipt of each notice and deliver to each Lender, promptly upon receipt, all other written communications furnished by the Borrower to the Administrative Agent on behalf of the Lenders pursuant to this Agreement, including without limitation copies of financial reports and certificates which are to be furnished to the Administrative Agent; (v) forward to each of the Lenders, upon request, copies of this Agreement, and other Credit Documents (other than any separate fee agreement); (vi) promptly forward to each Lender, upon request, an up-to-date loan status report; and (vii) upon learning of same, promptly advise each Lender in writing of the occurrence of an Event of Default or Default or the occurrence of any event, condition or circumstance which would have a Material Adverse Effect on the ability of the Borrower to comply with this Agreement or of t...
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Administration of the Credit Facility 
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Related to Administration of the Credit Facility

  • The Credit Facility 2.1 The Revolving Credit Facility Each Lender severally agrees, on the terms and conditions set forth herein, to make loans to the Borrower (each such loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Closing Date to the Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding, together with the principal amount of Term Loans outstanding in favor of such Lender at such time, the amount set forth next to such Lender’s name on Schedule 1 (such amount together with the Lender’s Pro Rata Share of the Term Commitment, as the same may be reduced under Section 2.10 or as a result of one or more assignments under Section 10.8, the Lender’s “Commitment”); provided, however, that, after giving effect to any Borrowing of Revolving Loans, the Effective Amount of all outstanding Revolving Loans shall not at any time exceed the combined Commitments; and provided further that the Effective Amount of the Revolving Loans, together with all Term Loans outstanding at such time, of any Lender shall not at any time exceed such Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.1, prepay under Section 3.3 and reborrow under this Section 2.1.

  • The Credit Facilities Section 2.1 The Revolving Credit Facility.

  • 01 of the Credit Agreement Section 1.01 of the Credit Agreement is hereby amended as follows:

  • of the Credit Agreement Section 5.28 of the Credit Agreements is hereby amended to read in its entirety as follows:

  • Amendment of the Credit Agreement Effective as of the Initial Effective Date, (a) Section 1.01 of the Credit Agreement is hereby amended as follows: (i) By inserting the following defined terms: