Common use of Borrowing Limitations Clause in Contracts

Borrowing Limitations. Notwithstanding anything to the contrary set forth herein (but subject to Section 2.01(e)), it shall be a condition precedent to each Credit Event that after giving effect thereto (and the use of the proceeds thereof): (i) the Aggregate U.S. Exposure would not exceed 100% (or, during an Agent Advance Period, 105%) of the U.S. Borrowing Base at such time; (ii) the Aggregate Canadian Exposure would not exceed the lesser of (x) 100% (or, during an Agent Advance Period, 105%) the Canadian Borrowing Base at such time and (y) the Canadian Sub-Limit then in effect; and (iii) the Aggregate Exposure at such time would not exceed the Total Revolving Loan Commitment at such time.

Borrowing Limitations. Notwithstanding anything to the contrary set forth herein (but subject to Section 2.01(e)), it shall be a condition precedent to each Credit Event that after giving effect thereto (and the use of the proceeds thereof): (i) the Aggregate U.S. Borrower Exposure would not exceed 100% (or, during an Agent Advance Period, 105%) of the U.S. Borrowing Base at such time; (ii) the Aggregate Canadian Borrower Exposure would not exceed the lesser of (x) 100% (or, during an Agent Advance Period, 105%) the Canadian Borrowing Base at such time and (y) the Canadian Sub-Limit then in effect; and (iii) the Aggregate Exposure at such time would not exceed the Total Revolving Loan Commitment at such time.