Common use of Commitment of the Banks Clause in Contracts

Commitment of the Banks. (a) Each Bank severally and not jointly with the other Banks agrees, upon the terms and subject to the conditions herein set forth, to make revolving credit loans (each a "LOAN" and collectively, the "LOANS") to the Borrower at any time and from time to time during the period commencing on the date hereof and ending on the Termination Date in an aggregate principal amount not to exceed, when added to such Bank's Commitment Percentage of the then aggregate Letter of Credit Outstandings (in excess of the amount of cash then held in the Letter of Credit Account pursuant to Section 2.03(b)), the Commitment of such Bank, which Loans may be repaid and reborrowed in accordance with the provisions of this Agreement. At no time shall the sum of the then outstanding aggregate principal amount of the Loans PLUS the then aggregate Letter of Credit Outstandings exceed the lesser of (i) the Total Commitment of $581,868,616.73, as the same may be reduced from time to time pursuant to Section 2.10 or Section 2.13 and (ii) the Borrowing Base. On the Closing Date, each of the Banks that is shown under the column headed "Settlement Amount" on that certain LTV Steel Replacement DIP Settlement Accounting (4/02/01), a copy of which has heretofore been furnished to the Banks, as making a payment shall pay the amount thereof to the Agent for the account of those Banks who are shown therein as receiving a payment, and the Agent shall distribute such payments as set forth therein. (b) Each Borrowing shall be made by the Banks PRO RATA in accordance with their respective Commitments; PROVIDED, HOWEVER, that the failure of any Bank to make any Loan shall not in itself relieve the other Banks of their obligations to lend.

Commitment of the Banks. (a) Each Bank severally and not jointly with the other Banks agrees, upon the terms and subject to the conditions herein set forthforth (including, without limitation, the provisions of Section 2.28), to make revolving credit loans (together with Swingline Loans referred to in Section 2.06, each a "LOANLoan" ---- and collectively, the "LOANSLoans") to the Borrower at any time and from time to time ----- during the period commencing on the date hereof and ending on the Termination Date in an aggregate principal amount (exclusive of the aggregate principal amount of the Swingline Loans, if any, made by such Bank) not to exceed, when added to such Bank's Commitment Percentage of the then aggregate Letter of Credit Outstandings (in excess of the amount of cash then held in the Letter of Credit Account pursuant to Section 2.03(b))Outstandings, the Commitment of such Bank, which Loans may be repaid and reborrowed in accordance with the provisions of this Agreement. At no time shall the sum of the then outstanding aggregate principal amount of the Loans PLUS plus the ---- then aggregate Letter of Credit Outstandings exceed the lesser of (i) the Total Commitment of $581,868,616.73, 100,000,000 as the same may be reduced from time to time pursuant to Section Sections 2.10 or Section and 2.13 and (ii) after the execution and delivery of the Borrowing Base Amendment, the Borrowing Base. On the Closing Date, each of the Banks that is shown under the column headed "Settlement Amount" on that certain LTV Steel Replacement DIP Settlement Accounting (4/02/01), a copy of which has heretofore been furnished to the Banks, as making a payment shall pay the amount thereof to the Agent for the account of those Banks who are shown therein as receiving a payment, and the Agent shall distribute such payments as set forth therein. (b) Each Borrowing shall be made by the Banks PRO RATA pro rata in accordance --- ---- with their respective CommitmentsCommitments (except as set forth in Section 2.06(c) with respect to Swingline Loans); PROVIDEDprovided, HOWEVERhowever, that the failure of any Bank to -------- ------- make any Loan shall not in itself relieve the other Banks of their obligations to lend.