Common use of Assignment and Acceptance Agreement Clause in Contracts

Assignment and Acceptance Agreement. an assignment and acceptance agreement substantially in the form of Exhibit A to the Agreement. Availability – at any time, the amount of additional money which Borrowers are entitled to borrow from time to time as Revolving Credit Loans, such amount being the lesser of (a) the difference derived when the sum of the principal amount of Revolving Credit Loans then outstanding (including any amounts which Agent or any Lender may have paid for the account of any Borrower in accordance with any of the Loan Documents and which have not been reimbursed by Borrowers), the LC Exposure (other than the Cash Collateralized LC Exposure), and any Reserves is subtracted from the Borrowing Base and (b) the difference derived when the sum of the principal amount of Revolving Credit Loans then outstanding (including any amounts which Agent or any Lender may have paid for the account of any Borrower in accordance with any of the Loan Documents and which have not been reimbursed by Borrowers), the LC Exposure, and any Reserves is subtracted from the Revolving Credit Maximum Amount.