Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document: (a) No Lender shall be required to make a Loan, the Agent shall not be required to issue a Letter of Credit and no reduction of the Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Commitments, the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed the lesser of (i) the aggregate amount of the Commitments at such time and (ii) the Borrowing Base at such time. (b) No Lender shall be required to make a Tranche A Loan, the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche A Loans, together with the aggregate principal amount of all Tranche A Letter of Credit Liabilities, would exceed the aggregate Tranche A Commitments. (c) No Lender shall be required to make a Tranche B Loan, the Agent shall not be required to issue a Tranche B Letter of Credit and no reduction of the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitments.
Appears in 2 contracts
Sources: Credit Agreement (Morgans Hotel Group Co.), Credit Agreement (Morgans Hotel Group Co.)
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document:
(a) No , no Revolving Loan Lender shall be required to make a LoanRevolving Loan or to purchase a participation in a Swingline Loan or Letter of Credit, the Agent Issuing Lender shall not be required to issue a Letter of Credit and no reduction of the Revolving Loan Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Revolving Loan or purchase of such participation, the issuance of such Letter of Credit or such reduction in the Revolving Loan Commitments, the aggregate amount of all outstanding Revolving Loans and Letter of Credit Liabilities would exceed the aggregate amount of Revolving Loan Commitments. Notwithstanding any other term of this Agreement or any other Loan Document, no Lender shall be required to make a Loan and the Issuing Lender shall not be required to issue a Letter of Credit and no reduction of the Revolving Loan Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Loan Commitments, the aggregate principal amount of all Unsecured Indebtedness of the Parent, the Borrower and their respective Subsidiaries (including, without limitation, outstanding Loans, Loans together with the aggregate amount of all Letter of Credit Liabilities, ) would exceed the lesser cause a Default or Event of Default under Section 10.1.(g) or (i) the aggregate amount of the Commitments at such time and (ii) the Borrowing Base at such timeh).
(b) No Lender shall be required to make a Tranche A Loan, the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche A Loans, together with the aggregate principal amount of all Tranche A Letter of Credit Liabilities, would exceed the aggregate Tranche A Commitments.
(c) No Lender shall be required to make a Tranche B Loan, the Agent shall not be required to issue a Tranche B Letter of Credit and no reduction of the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitments.
Appears in 2 contracts
Sources: Credit Agreement (Kite Realty Group, L.P.), Credit Agreement (Kite Realty Group Trust)
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document:
(a) No , no Lender shall be required to make a Loan, the Agent no Issuing Bank shall not be required to issue a Letter of Credit and no reduction of the Revolving Commitments pursuant to Section 2.12. 2.13 shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: (a) the aggregate principal amount of all outstanding Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed such L▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the lesser of (i) the aggregate amount of the Commitments at such time and (ii) the Borrowing Base at such time.
(b) No Lender shall be required to make a Tranche A Loancontrary contained herein, the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after when determining whether the making of such a Loan, the issuance of such a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause (b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such Commitment, L▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Tranche A Loans, together with the aggregate principal amount of Swingline Loans made by such Lender and all Tranche A Letter of Credit Liabilities, would exceed the aggregate Tranche A Commitments.
(c) No Liabilities under Letters of Credit issued by such Lender shall be required deemed to make a Tranche B Loanbe one hundred percent (100%) (i.e., the Agent usage of such L▇▇▇▇▇’s Revolving Commitment shall not be required to issue a Tranche B Letter reduced by reason of any unreimbursed participations in such Swingline Loans or Letters of Credit and no reduction of the Tranche B Commitments by any other Lender pursuant to Section 2.12. shall take effect, if immediately after the making terms of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitmentsthis Agreement).
Appears in 2 contracts
Sources: Credit Agreement (Smith Douglas Homes Corp.), Credit Agreement (Smith Douglas Homes Corp.)
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document:
(a) No , no Revolving Lender shall be required to make a Revolving Loan or a Bid Rate Loan, the Agent no Issuing Bank shall not be required to issue a Letter of Credit and no reduction of the Revolving Commitments pursuant to Section 2.12. 2.13 shall take effect, if immediately after the making of such Revolving Loan or Bid Rate Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments, :
(a) the aggregate principal amount of all outstanding Revolving Loans and Bid Rate Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed the lesser aggregate amount of the Revolving Commitments at such time;
(ib) the aggregate principal amount of all outstanding Revolving Loans made by such L▇▇▇▇▇, together with the Letter of Credit Exposure of such Lender, would exceed the Revolving Commitment of such Lender at such time; or
(c) the aggregate principal amount of all outstanding Bid Rate Loans would exceed fifty percent (50.0%) of the aggregate amount of the Revolving Commitments at such time and (ii) the Borrowing Base at such time.
(b) No . Additionally, no Term Loan Lender shall be required to make a Tranche A Loan, Term Loan if the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after the making amount of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche A Loans, together with the aggregate principal amount of all Tranche A Letter of Credit Liabilities, Term Loan would exceed the aggregate Tranche A Commitmentssuch L▇▇▇▇▇’s Term Loan Commitment.
(c) No Lender shall be required to make a Tranche B Loan, the Agent shall not be required to issue a Tranche B Letter of Credit and no reduction of the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitments.
Appears in 1 contract
Amount Limitations. (a) Notwithstanding any other term of this Agreement or any other Loan Document:
(a) No , no Revolving Lender shall be required to make a Revolving Loan, the Agent no Issuing Bank shall not be required to issue a Letter of Credit Credit, no Swingline Lender shall be required to make a Swingline Loan and no reduction of the Revolving Loan Commitments pursuant to Section 2.12. 2.10 shall take effect, if immediately after the making of such Revolving Loan, the issuance of such Letter of Credit Credit, the making of such Swingline Loan or such reduction in the Commitments, Revolving Loan Commitments the aggregate principal amount of all outstanding Revolving Loans and Swingline Loans, together with the aggregate amount of the Stated Amounts of all Letter Letters of Credit Liabilitiesthen outstanding and all unreimbursed LC Disbursements then outstanding, would exceed the lesser of (i) the aggregate amount of the Revolving Loan Commitments at such time and (ii) the Borrowing Base at such time.
(b) No Notwithstanding any other term of this Agreement or any other Loan Document, no Term Loan Lender shall be required to make a Tranche A Loan, Term Loan if the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after the making amount of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche A Loans, together with the aggregate principal amount of all Tranche A Letter of Credit Liabilities, Term Loan would exceed the aggregate Tranche A Commitmentssuch Lender’s Term Loan Commitment.
(c) No Lender shall be required to make a Tranche B Loan, the Agent shall not be required to issue a Tranche B Letter of Credit and no reduction of the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitments.
Appears in 1 contract
Amount Limitations. (a) Notwithstanding any other term of this Agreement or any other Loan Document:
(a) No , no Lender shall be required to make a Revolving Loan, the Agent Swingline Lender shall not be required to make a Swingline Loan, the Issuing Banks shall not be required to issue a Letter Letters of Credit and no reduction of the Revolving Commitments pursuant to Section 2.12. Section 2.13 shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the such Revolving Commitments, the aggregate principal amount of all outstanding Revolving Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed the lesser of (i) the aggregate amount of the Revolving Commitments at such time and (ii) the Borrowing Base at such time.
(b) No Lender shall be required Notwithstanding any other term of this Agreement, until such time as the Borrower has delivered written notice (the “Cap Termination Notice”) to make a Tranche A Loan, the Administrative Agent shall not be required of its intent to issue a Tranche A Letter of Credit and no reduction of terminate the Tranche A Commitments pursuant to limitations set forth in this Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment2.16(b) (which Borrower may deliver at any time in its sole discretion), the aggregate principal amount of all outstanding Tranche A LoansCommitments available to be borrowed under this Agreement shall be limited to $249,000,000; provided that, together for the avoidance of doubt, notwithstanding the limitation set forth in this Section 2.16(b) with respect to the aggregate principal amount of all Tranche A Letter Commitments actually available to the Borrower to be drawn upon prior to the Administrative Agent’s receipt of Credit Liabilitiesthe Cap Termination Notice, would exceed the aggregate Tranche A Commitments.
(c) No Lender shall be required to make a Tranche B Loan, the Agent such limitation shall not be required impact or otherwise reduce any fees payable to issue a Tranche B Letter of Credit and no reduction of the Tranche B Lenders with respect to the Commitments pursuant to Section 2.12. shall take effect, if immediately after provided by each such Lender on the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B CommitmentsEffective Date.
Appears in 1 contract
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan DocumentThe advances made by Lessor to purchase the Land (the "Acquisition Advances") and the Improvement/Expense Advances made by Lessor (the Acquisition Advances and the Improvement/Expense Advances to be referred to collectively as the "Advances") shall be subject to the following limitations:
(ai) No Lender shall Until Lessee delivers to Lessor the Plans and Specifications for all New Improvements to be required to make a Loan, constructed on the Agent shall not be required to issue a Letter of Credit and no reduction of the Commitments Property pursuant to Section 2.12. shall take effectSubparagraph 5.01(h) and a revised Expiration Date Appraisal for each Tract of Property (if required by Subparagraph 5.01(h)), if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Commitments, the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter portions of Credit Liabilitiesall Advances made by Lessor which are allocated to any Line Item in the Budget, would as set forth in the Schedule to the Acquisition Request or the Improvement/Expense Advance Request for such Advance pursuant to clause (v) of Subparagraph 2.03(a) or clause (i)(D) of Subparagraph 2.03(b), as applicable, shall not exceed shall not exceed 110% of such Line Item of the Budget:
(ii) Until Lessee delivers to Lessor the Plans and Specifications for all New Improvements to be constructed on the Property pursuant to Subparagraph 5.01(h) and a revised Expiration Date Appraisal for each Tract of Property (if required by Subparagraph 5.01(h)), the aggregate amount of all Advances made by Lessor shall not exceed the lesser of (iA) aggregate amount of the Budget or (B) the Expiration Date Appraisal as delivered on the Closing Date;
(iii) After Lessee delivers to Lessor the Plans and Specifications for all New Improvements to be constructed on the Property pursuant to Subparagraph 5.01(h) and a revised Expiration Date Appraisal for each Tract of Property (if required by Subparagraph 5.01(h)), the aggregate amount of all Advances made by Lessor for such Tract of Property (including the Commitments at Acquisition Advance and all Improvement/Expense Advances for such time and (iiTract of Property) shall not exceed the Borrowing Base at Expiration Date Appraisal for such time.Tract of Property;
(biv) No Lender shall be required to make a Tranche A Loan, the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the The aggregate principal amount of all outstanding Tranche A Loans, together with Advances made during the period commencing on the date of this Agreement and ending on the date 364 days thereafter (the "364-Day Commitment Termination Date") shall not exceed Sixteen Million Dollars ($16,000,000) (the "364-Day Commitment"); and;
(v) The aggregate principal amount of all Tranche A Letter Advances made during the period commencing on the date of Credit Liabilitiesthis Agreement and ending on the Commitment Termination Date (such period to be referred to as the "Commitment Period") shall not exceed Fifty-Five Million Dollars ($55,000,000) (the "Total Commitment"). Of the Total Commitment, would exceed Thirty-Nine Million Dollars ($39,000,000) (the aggregate Tranche A Commitments.
(c"Thirty Month Commitment") No Lender is available at any time during the entire Commitment Period. Unless otherwise directed by Lessee, all Advances made by Lessor on or prior to the 364-Day Commitment Termination Date shall be required allocated first to make a Tranche B Loanthe 364-Day Commitment and, the Agent shall not be required to issue a Tranche B Letter of Credit and no reduction of the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan364-Day Commitment is reduced to zero, to the issuance of such Letter of Credit or reduction of such Thirty-Month Commitment. All Advances made by Lessor after the 364-Day Commitment Termination Date shall be allocated to the Thirty-Month Commitment, whether or not the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitments364-Day Commitment has been reduced to zero.
Appears in 1 contract
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document:
, (ai) No no Revolving Lender shall be required to make a Revolving Loan, the Agent Swingline Lender shall not be required to make a Swingline Loan, the Issuing Bank shall not be required to issue a Letter of Credit Credit, and no reduction of the Revolving Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of any such Revolving Loan or Swingline Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments, the aggregate principal amount of all outstanding Revolving Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed the lesser of (i) the aggregate amount of the Revolving Commitments at such time and (ii) the Borrowing Base at such time.
(b) No no Term Loan Lender shall be required to make a Tranche A Loan, the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, Term Loan if immediately after the making of any such Term Loan, the issuance of such Letter of Credit or reduction of such Commitment, (i) the aggregate principal amount of all outstanding Tranche A Loans, together with Term Loans would exceed the aggregate amount of the Term Loan Commitments at such time or (ii) the aggregate principal amount of all any of its Term Loans would exceed its Tranche A Letter of Credit LiabilitiesCommitment, would exceed the aggregate Tranche A Commitments.
(c) No Lender shall be required to make a Tranche B Loan, the Agent shall not be required to issue a Commitment and/or Tranche B Letter of Credit and no reduction of the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such C Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitmentsas applicable.
Appears in 1 contract
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document:
(a) No , no Revolving Lender shall be required to make a Revolving Loan or a Bid Rate Loan, the Agent no Issuing Bank shall not be required to issue a Letter of Credit Credit, no Swingline Lender shall be required to make any Swingline Loan and no reduction of the Revolving Commitments pursuant to Section 2.12. 2.13 shall take effect, if immediately after the making of such Revolving Loan, or Bid Rate Loan or Swingline Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments, :
(a) the aggregate principal amount of all outstanding Revolving Loans, and Bid Rate Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed the lesser aggregate amount of the Revolving Commitments at such time;
(ib) the aggregate principal amount of all outstanding Revolving Loans and Swingline Loans made by such Lender, together with the Letter of Credit Exposure of such Lender and such ▇▇▇▇▇▇’s participation in, and payment obligations in respect of, Swingline Loans, would exceed the Revolving Commitment of such Lender at such time; or
(c) the aggregate principal amount of all outstanding Bid Rate Loans would exceed fifty percent (50.0%) of the aggregate amount of the Revolving Commitments at such time and (ii) the Borrowing Base at such time.
(b) No . Additionally, no Term Loan Lender shall be required to make a Tranche A Loan, Term Loan if the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after the making amount of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche A Loans, together with the aggregate principal amount of all Tranche A Letter of Credit Liabilities, Term Loan would exceed the aggregate Tranche A Commitmentssuch ▇▇▇▇▇▇’s Term Loan Commitment.
(c) No Lender shall be required to make a Tranche B Loan, the Agent shall not be required to issue a Tranche B Letter of Credit and no reduction of the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitments.
Appears in 1 contract
Sources: Amendment No. 1 to Amended and Restated Credit Agreement (American Homes 4 Rent, L.P.)
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document:
(a) No , no Revolving Lender shall be required to make a Revolving Loan or a Bid Rate Loan, the Agent no Issuing Bank shall not be required to issue a Letter of Credit Credit, no Swingline Lender shall be required to make any Swingline Loan and no reduction of the Revolving Commitments pursuant to Section 2.12. 2.13 shall take effect, if immediately after the making of such Revolving Loan, Bid Rate Loan or Swingline Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments, :
(a) the aggregate principal amount of all outstanding Revolving Loans, Bid Rate Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed the lesser aggregate amount of the Revolving Commitments at such time;
(ib) the aggregate principal amount of all outstanding Revolving Loans and Swingline Loans made by such Lender, together with the Letter of Credit Exposure of such Lender and such Lender’s participation in, and payment obligations in respect of, Swingline Loans, would exceed the Revolving Commitment of such Lender at such time; or
(c) the aggregate principal amount of all outstanding Bid Rate Loans would exceed fifty percent (50.0%) of the aggregate amount of the Revolving Commitments at such time and (ii) the Borrowing Base at such time.
(b) No . Additionally, no Term Loan Lender shall be required to make a Tranche A Loan, Term Loan if the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after the making amount of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche A Loans, together with the aggregate principal amount of all Tranche A Letter of Credit Liabilities, Term Loan would exceed the aggregate Tranche A Commitmentssuch Lender’s Term Loan Commitment.
(c) No Lender shall be required to make a Tranche B Loan, the Agent shall not be required to issue a Tranche B Letter of Credit and no reduction of the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitments.
Appears in 1 contract
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document:
(a) No , no Revolving Lender shall be required to make a Revolving Loan or a Bid Rate Loan, the Agent no Issuing Bank shall not be required to issue a Letter of Credit Credit, no Swingline Lender shall be required to make any Swingline Loan and no reduction of the Revolving Commitments pursuant to Section 2.12. 2.13 shall take effect, if immediately after the making of such Revolving Loan, Bid Rate Loan or Swingline Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments, :
(a) the aggregate principal amount of all outstanding Revolving Loans, Bid Rate Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed the lesser aggregate amount of the Revolving Commitments at such time;
(ib) the aggregate principal amount of all outstanding Revolving Loans, Bid Rate Loans and Swingline Loans made by such Lender, together with the Letter of Credit Exposure of such Lender, would exceed the Revolving Commitment of such Lender at such time; or
(c) the aggregate principal amount of all outstanding Bid Rate Loans would exceed fifty percent (50.0%) of the aggregate amount of the Revolving Commitments at such time and (ii) the Borrowing Base at such time.
(b) No . Additionally, no Term Loan Lender shall be required to make a Tranche A Loan, Term Loan if the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after the making amount of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche A Loans, together with the aggregate principal amount of all Tranche A Letter of Credit Liabilities, Term Loan would exceed the aggregate Tranche A Commitmentssuch Lender’s Term Loan Commitment.
(c) No Lender shall be required to make a Tranche B Loan, the Agent shall not be required to issue a Tranche B Letter of Credit and no reduction of the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitments.
Appears in 1 contract
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document:
(a) No , no Lender shall be required to make a Loan, no Revolving Lender shall make any Bid Rate Loan, the Agent Issuing Banks shall not be required to issue a Letter any Letters of Credit and no reduction of the Revolving Commitments pursuant to Section 2.122.13. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments, :
(a) the aggregate principal amount of all outstanding Revolving Loans, Bid Rate Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed the lesser of (i) the aggregate amount of the Revolving Commitments at such time and (ii) the Borrowing Base at such time.;
(b) No Lender shall be required to make a Tranche A Loan, the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche A Loans, together with Bid Rate Loans would exceed 50.0% of the aggregate amount of the Revolving Commitments at such time;
(c) the aggregate Stated Amount of outstanding Letters of Credit issued by an Issuing Bank would exceed the lesser of (i) one-fifth of the L/C Commitment Amount and (ii) the Commitment of such Issuing Bank in its capacity as a Lender; or
(d) the aggregate principal amount of all Tranche A Letter of Credit Liabilities, Swingline Loans made by a Swingline Lender would exceed the aggregate Tranche A Commitments.
lesser of (ci) No Lender shall $25,000,000, as such amount may be required reduced from time to make a Tranche B Loan, time in accordance with the Agent shall not be required to issue a Tranche B Letter of Credit terms hereof and no reduction of (ii) the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the making Revolving Commitment of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, Swingline Lender in its capacity as a Revolving Lender minus the aggregate outstanding principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount Revolving Loans of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitmentssuch Swingline Lender in its capacity as a Revolving Lender.
Appears in 1 contract
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document:
(a) No , no Lender shall be required to make a Loan, the Agent no Issuing Bank shall not be required to issue a Letter of Credit and no reduction of the Revolving Commitments pursuant to Section 2.12. 2.13 shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments: (a) the aggregate principal amount of all outstanding Loans, together with aggregate amount of all Letter of Credit Liabilities, would exceed the Maximum Loan Availability at such time or (b) such ▇▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed such ▇▇▇▇▇▇’s Revolving Commitment. Notwithstanding anything to the lesser of (i) the aggregate amount of the Commitments at such time and (ii) the Borrowing Base at such time.
(b) No Lender shall be required to make a Tranche A Loancontrary contained herein, the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after when determining whether the making of such a Loan, the issuance of such a Letter of Credit or a reduction in the Revolving Commitments would comply with the requirements of the immediately preceding clause (b) with respect to the Lender then acting as Swingline Lender and/or Issuing Bank, such Commitment, ▇▇▇▇▇▇’s Revolving Commitment Percentage of the aggregate principal amount of all outstanding Tranche A Loans, together with the aggregate principal amount of Swingline Loans made by such Lender and all Tranche A Letter of Credit Liabilities, would exceed the aggregate Tranche A Commitments.
(c) No Liabilities under Letters of Credit issued by such Lender shall be required deemed to make a Tranche B Loanbe one hundred percent (100%) (i.e., the Agent usage of such ▇▇▇▇▇▇’s Revolving Commitment shall not be required to issue a Tranche B Letter reduced by reason of any unreimbursed participations in such Swingline Loans or Letters of Credit and no reduction of the Tranche B Commitments by any other Lender pursuant to Section 2.12. shall take effect, if immediately after the making terms of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitmentsthis Agreement).
Appears in 1 contract
Amount Limitations. Notwithstanding any other term of this Agreement or any other Loan Document:
(a) No , no Lender shall be required to make a Loan, no Revolving Lender shall make any Bid Rate Loan, the Agent Issuing Banks shall not be required to issue a Letter any Letters of Credit and no reduction of the Revolving Commitments pursuant to Section 2.122.13. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or such reduction in the Revolving Commitments, :
(a) the aggregate principal amount of all outstanding Revolving Loans, Bid Rate Loans and Swingline Loans, together with the aggregate amount of all Letter of Credit Liabilities, would exceed the lesser of (i) the aggregate amount of the Revolving Commitments at such time and (ii) the Borrowing Base at such time.;
(b) No Lender shall be required to make a Tranche A Loan, the Agent shall not be required to issue a Tranche A Letter of Credit and no reduction of the Tranche A Commitments pursuant to Section 2.12. shall take effect, if immediately after the making of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, the aggregate principal amount of all outstanding Tranche A Loans, together with Bid Rate Loans would exceed 50.0% of the aggregate amount of the Revolving Commitments at such time;
(c) the aggregate Stated Amount of outstanding Letters of Credit issued by an Issuing Bank would exceed the lesser of (i) one-fifth of the L/C Commitment Amount and (ii) the Revolving Commitment of such Issuing Bank in its capacity as a Revolving Lender; or
(d) the aggregate principal amount of all Tranche A Letter of Credit Liabilities, Swingline Loans made by a Swingline Lender would exceed the aggregate Tranche A Commitments.
lesser of (ci) No Lender shall $25,000,000, as such amount may be required reduced from time to make a Tranche B Loan, time in accordance with the Agent shall not be required to issue a Tranche B Letter of Credit terms hereof and no reduction of (ii) the Tranche B Commitments pursuant to Section 2.12. shall take effect, if immediately after the making Revolving Commitment of such Loan, the issuance of such Letter of Credit or reduction of such Commitment, Swingline Lender in its capacity as a Revolving Lender minus the aggregate outstanding principal amount of all outstanding Tranche B Loans, together with the aggregate principal amount Revolving Loans of all Tranche B Letter of Credit Liabilities, would exceed the aggregate Tranche B Commitmentssuch Swingline Lender in its capacity as a Revolving Lender.
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