Amounts and Terms of Commitments. (a) The Committed Loans. Each Bank severally agrees, on the terms and conditions hereinafter set forth, to make Committed Loans to any Borrower from time to time on any Business Day during the period from the Effective Date to the Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of such Bank's Commitment; provided, however, that, after giving effect to any Committed Borrowing (and to any concurrent repayment or prepayment of Loans), (i) the aggregate principal amount of all outstanding Committed Loans together with (w) the aggregate principal amount of all outstanding Swingline Loans, plus (x) the aggregate principal amount of all outstanding Bid Loans, plus (y) the Dollar Equivalent of the aggregate principal amount of all outstanding Multicurrency Loans, plus (z) all outstanding Letter of Credit Obligations, shall not exceed the Aggregate Commitment, (ii) the sum of the Committed Loan Exposure and the Multicurrency Loan Exposure of any Bank shall not exceed such Bank's Commitment or (iii) the Dollar Equivalent of the aggregate principal amount of the Multicurrency Loans outstanding shall not exceed the Total Multicurrency Commitment. Within such limits, and subject to the other terms and conditions hereof, each Borrower may borrow Committed Loans under this Section 2.01(a), prepay pursuant to Section 2.09 or 2.10(a) and reborrow pursuant to this Section 2.01(a).
Appears in 2 contracts
Sources: Credit Agreement (Us Industries Inc), Credit Agreement (Us Industries Inc /De)
Amounts and Terms of Commitments. (a) The Committed Loans. Each Bank severally agrees, on the terms and subject to the conditions hereinafter set forth, to make Committed Loans to any the Borrower (each such Loan, a "Committed Loan") from time to time on any Business Day during the period from the Effective Date to the Termination Date, in an aggregate principal amount not to exceed at any time outstanding the amount of such Bank's Commitment; provided, however, that, that after giving effect to any Borrowing of Committed Borrowing (and to any concurrent repayment or prepayment of Loans), (ia) the aggregate principal amount of all outstanding Committed Loans together with (w) the aggregate principal amount of all outstanding Swingline Loans, plus (xb) the aggregate principal amount of all outstanding Bid Loans, plus (y) the Dollar Equivalent of the aggregate principal amount of all outstanding Multicurrency Loans, plus (z) all outstanding Letter of Credit Obligations, Loans shall not exceed the Aggregate Commitments; and provided further that no Loan shall be made at any time prior to the Acquisition Date unless there are at such time no unused commitments under the Existing Credit Agreement (and/or any amendment of, supplement to or replacement of the Existing Credit Agreement). Within the limits of each Bank's Commitment, (ii) the sum of the Committed Loan Exposure Borrower may on and the Multicurrency Loan Exposure of any Bank shall not exceed such Bank's Commitment or (iii) the Dollar Equivalent of the aggregate principal amount of the Multicurrency Loans outstanding shall not exceed the Total Multicurrency Commitment. Within such limits, and subject prior to the other terms and conditions hereof, each Borrower may Termination Date borrow Committed Loans under this Section 2.01(a)2.01, prepay pursuant to Section 2.09 or 2.10(a) 2.07 and reborrow pursuant to this Section 2.01(a)2.01. Loans repaid or prepaid after the Termination Date may not be reborrowed.
Appears in 2 contracts
Sources: Credit Agreement (Tyson Foods Inc), Credit Agreement (Tyson Foods Inc)
Amounts and Terms of Commitments. (a) The Committed Loans. Each Bank severally agrees, on the terms and conditions hereinafter set forthforth herein, to make loans on a revolving credit basis to the Company (each such loan, a "Committed Loans to any Borrower Loan") from time to time on any Business Day during the period from the Effective Closing Date to to, but not including, the Credit Termination Date, in an aggregate principal Dollar Equivalent amount not to exceed at any time outstanding the amount of such set forth opposite the Bank's name in Schedule 2.01 under the heading "Commitment" (such amount as the same may be reduced pursuant to Section 2.08 or as a result of one or more assignments pursuant to Section 11.08, the Bank's "Commitment"); provided, however, that, after giving effect to any Committed Borrowing (and to any concurrent repayment or prepayment of Committed Loans), (i) the aggregate principal Dollar Equivalent amount of all outstanding Committed Loans, together with the aggregate principal amount of all Bid Loans outstanding Committed Loans together with (w) the aggregate principal amount of all outstanding Swingline Loans, plus (x) the aggregate principal amount of all outstanding Bid Loans, plus (y) the Dollar Equivalent of the aggregate principal amount of all outstanding Multicurrency Loans, plus (z) all outstanding Letter of Credit and L/C Obligations, shall not exceed the Aggregate Commitmentcombined Commitments; and provided further, (ii) the sum that after giving effect to any Committed Borrowing of the Committed Loan Exposure and the Multicurrency Loan Exposure of any Bank shall not exceed such Bank's Commitment or (iii) the Dollar Equivalent of Offshore Currency Loans, the aggregate principal Dollar Equivalent amount of the Multicurrency all outstanding Offshore Currency Loans outstanding shall not exceed the Total Multicurrency CommitmentOffshore Currency Loan Sublimit. Within such limitsthe limits of each Bank's Commitment, and subject to the other terms and conditions hereof, each Borrower the Company may borrow Committed Loans under this Section 2.01(a)2.01, prepay pursuant to Section 2.09 or 2.10(a) and reborrow pursuant to this Section 2.01(a)2.01.
Appears in 1 contract
Sources: Multicurrency Credit Agreement (Briggs & Stratton Corp)
Amounts and Terms of Commitments. (a) The Committed LoansFacility A Revolving Credit. Each Bank severally agrees, on the terms and conditions hereinafter set forthforth herein, to make Committed Loans loans to any Borrower the Company (each such loan, a "Facility A Revolving Loan") from time to time on any Business Day during the period from the Effective Closing Date to the Facility A Revolving Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of set forth opposite such Bank's name on Schedule 2.1 (such amount as the same may be reduced under Section 2.5 or as a result of one or more assignments under Section 11.8, the Bank's "Facility A Commitment"); provided, however, that, after giving effect to any Committed Borrowing (and to any concurrent repayment or prepayment of Facility A Revolving Loans), (i) the aggregate principal amount Effective Amount of all outstanding Committed Facility A Revolving Loans together with (w) and the aggregate principal amount Effective Amount of all outstanding Swingline Loans, plus (x) the aggregate principal amount of all outstanding Bid Loans, plus (y) the Dollar Equivalent of the aggregate principal amount of all outstanding Multicurrency Loans, plus (z) all outstanding Letter of Credit Obligations, L/C Obligations shall not at any time exceed the Aggregate Commitmentcombined Facility A Commitments, and (ii) the sum Effective Amount of the Committed Loan Exposure and the Multicurrency Loan Exposure Facility A Revolving Loans of any Bank plus the participation of such Bank in the Effective Amount of all L/C Obligations shall not at any time exceed such Bank's Commitment or (iii) the Dollar Equivalent of the aggregate principal amount of the Multicurrency Loans outstanding shall not exceed the Total Multicurrency Facility A Commitment. Within such limitsthe limits of each Bank's Facility A Commitment, and subject to the other terms and conditions hereof, each Borrower the Company may borrow Committed Loans under this Section 2.01(asubsection 2.1(a), prepay pursuant to under Section 2.09 or 2.10(a) 2.6 and reborrow pursuant to under this Section 2.01(asubsection 2.1(a).
Appears in 1 contract
Amounts and Terms of Commitments. (a) The Committed Loans. Each Bank Lender severally agrees, on the terms and conditions hereinafter set forthforth herein, to make Committed Loans to any Borrower the Company from time to time on any Business Day during the period from the Effective Date to the Termination Date, in an aggregate amount not to exceed at any time outstanding the amount of set forth on SCHEDULE 2.1 (such Bankamount, as reduced pursuant to SECTION 2.5, or changed by one or more assignments under SECTION 11.8, such Lender's "Commitment"); providedPROVIDED, howeverHOWEVER, that, after giving effect to any Committed Borrowing (and to any concurrent repayment or prepayment of Loans)Borrowing, (i) the aggregate principal amount of all outstanding Committed Loans together with (w) the aggregate principal amount of all outstanding Swingline Loans, plus (x) the aggregate principal amount of all outstanding Bid Loans, plus (y) the Dollar Equivalent of the aggregate principal amount of all outstanding Multicurrency Loans, plus (z) all outstanding Letter of Credit Obligations, Total Outstandings shall not exceed the Aggregate Commitmentcombined Commitments; AND PROVIDED, (ii) the sum of the Committed Loan Exposure and the Multicurrency Loan Exposure of any Bank shall not exceed such Bank's Commitment or (iii) the Dollar Equivalent of FURTHER, that the aggregate principal amount of the Multicurrency Committed Loans of any Lender PLUS the participation of such Lender in the principal amount of all outstanding Swing Line Loans and in the Effective Amount of all L/C Obligations shall not at any time exceed the Total Multicurrency such Lender's Commitment. Within such limitsthe limits of each Lender's Commitment, and subject to the other terms and conditions hereof, each Borrower the Company may borrow Committed Loans under this Section 2.01(a)SECTION 2.1, prepay pursuant to Section 2.09 or 2.10(a) under SECTION 2.6 and reborrow pursuant under this SECTION 2.1. If for any reason the Total Outstandings at any time exceed the combined Commitments then in effect, the Company shall immediately prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to this Section 2.01(a)such excess.
Appears in 1 contract
Amounts and Terms of Commitments. (a) The Committed Loans. Each Bank severally agrees, on the terms and conditions hereinafter set forthforth herein, to make Committed Loans loans on a revolving credit basis to any Borrower the Company (each such loan, a “Revolving Loan”) from time to time on any Business Day during the period from the Effective Closing Date to to, but not including, the Credit Termination Date, in an ; provided that (a) the aggregate amount not to exceed at any time outstanding the principal Dollar Equivalent amount of such Bank's ’s Revolving Loans plus such Bank’s Pro Rata Share of the Effective Amount of all L/C Obligations plus such Bank’s Pro Rata Share of the aggregate outstanding principal amount of all Swing Line Loans shall not exceed such Bank’s Commitment; provided, however, that, (b) after giving effect to any Committed Borrowing Borrowing, the Total Outstandings shall not exceed the combined Commitments and (and c) after giving effect to any concurrent repayment or prepayment Borrowing of Offshore Currency Loans), (i) the aggregate principal Dollar Equivalent amount of all outstanding Committed Offshore Currency Loans together with (w) the aggregate principal amount of all outstanding Swingline Loans, plus (x) the aggregate principal amount of all outstanding Bid Loans, plus (y) the Dollar Equivalent of the aggregate principal amount of all outstanding Multicurrency Loans, plus (z) all outstanding Letter of Credit Obligations, shall not exceed the Aggregate Commitment, (ii) the sum of the Committed Offshore Currency Loan Exposure and the Multicurrency Loan Exposure of any Bank shall not exceed such Bank's Commitment or (iii) the Dollar Equivalent of the aggregate principal amount of the Multicurrency Loans outstanding shall not exceed the Total Multicurrency CommitmentSublimit. Within such limitsthe limits of each Bank’s Commitment, and subject to the other terms and conditions hereof, each Borrower the Company may borrow Committed Loans under this Section 2.01(a)2.01, prepay pursuant to Section 2.09 or 2.10(a) 2.08 and reborrow pursuant to this Section 2.01(a)2.01.
Appears in 1 contract