Common use of Borrowing Limitations Clause in Contracts

Borrowing Limitations. Anything contained in this Agreement to the contrary notwithstanding, (A) in no event shall the Total Utilization of Commitments at any time outstanding exceed the lesser of (x) the Commitments and (y) the amount permitted to be outstanding hereunder pursuant to the Interim Borrowing Order or Borrowing Order, as applicable, in each case as the foregoing limits may be in effect from time to time; (B) in no event shall the Outstanding Tranche A Amount of all Lenders exceed the lesser of (x) the Tranche A Commitments and (y) the Borrowing Base, in each case as the foregoing limits may be in effect from time to time; (C) in no event shall the Outstanding Tranche B Amounts of all Lenders exceed the Tranche B Commitments in effect from time to time; (D) the Borrowers shall comply with any additional limitations on Tranche B Loan Borrowings prescribed by Supermajority Lenders pursuant to the last sentence of Section 2.01(b); and (E) the Borrowers agree to immediately prepay the Loans in the amounts and at the times as may be necessary to comply with the foregoing clauses (A), (B), (C) and (D).

Appears in 1 contract

Sources: Debt Agreement (Vencor Inc)

Borrowing Limitations. Anything contained in this Agreement to the contrary notwithstanding, (A) in no event shall the Total Utilization of Commitments at any time outstanding exceed the lesser of (x) the Commitments and (y) the amount permitted to be outstanding hereunder pursuant to the Interim Borrowing Order or the Borrowing Order, as applicable, in each case as the foregoing limits may be in effect from time to time; (B) in no event shall the Outstanding Tranche A Amount of all Lenders exceed the lesser of (x) the Tranche A Commitments and (y) the Borrowing Base, in each case as the foregoing limits may be in effect from time to time; (C) in no event shall the Outstanding Tranche B Amounts of all Lenders exceed the Tranche B Commitments in effect from time to time; (D) the Borrowers shall comply with any additional limitations on Tranche B Loan Borrowings prescribed by Supermajority Lenders pursuant to the last sentence of Section 2.01(b)) and incorporated into this Agreement by amendment; and (E) the Borrowers agree to immediately prepay the Loans in the amounts and at the times as may be necessary to comply with the foregoing clauses (A), (B), (C) and (D).

Appears in 1 contract

Sources: Debtor in Possession Credit Agreement (Mariner Post Acute Network Inc)