Common use of Commitment to Lend Clause in Contracts

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing Base, provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 3 contracts

Sources: Revolving Credit Agreement (Excel Realty Trust Inc), Revolving Credit Agreement (Walden Residential Properties Inc), Revolving Credit Agreement (Walden Residential Properties Inc)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date Date, upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 2.9 (but subject to the limitations set forth in Section 2.9) up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing Base, Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuingcontinuing and the Borrower's financial statements as required pursuant to Section 2.6(iii) shall demonstrate compliance with all covenants set forth therein; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such requestrequest (except as otherwise permitted in Paragraph 4 of the form of Loan Request with respect to warranties and representations). No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 3 contracts

Sources: Revolving Credit Agreement (Crescent Real Estate Equities Co), Revolving Credit Agreement (Crescent Real Estate Equities Inc), Revolving Credit Agreement (Crescent Real Estate Equities LTD Partnership)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the BorrowerBorrower (the "Loans"), and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.62.5, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding Outstanding (after giving effect to all amounts requestedrequested and the amount of Letters of Credit Outstanding) at any one time equal to such Bank's Commitment and the lesser of (ba) such Bank's Commitment Percentage minus an amount equal to such Bank's participations in the aggregate Letters of Credit Outstanding and (b) an amount equal to the Borrowing Base, Base multiplied by such Bank's Commitment Percentage minus an amount equal to such Bank's participations in the aggregate Letters of Credit Outstanding; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, further that the outstanding principal amount of the Outstanding Loans (after giving effect to all amounts requested) and the Letters of Credit Outstanding shall not at any time anytime exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 2 contracts

Sources: Master Revolving Credit Agreement (Ramco Gershenson Properties Trust), Master Revolving Credit Agreement (Ramco Gershenson Properties Trust)

Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Banks Lenders severally agrees to lend to the Borrower, Borrower and the Borrower may borrow (borrow, repay, and repay and reborrow) reborrow from time to time between from the Closing Date and to the Final Maturity Date upon notice by the Borrower to the Administrative Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such BankLender's Commitment and (b) MINUS such BankLender's Commitment Percentage of the Borrowing Base, provided, that, in sum of the Maximum Drawing Amount and all events no Default or Event of Default shall have occurred and be continuingUnpaid Reimbursement Obligations; and provided, further, PROVIDED that the sum of the outstanding principal amount of the Loans (after giving effect to all amounts requested) PLUS the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the Total CommitmentCommitment at such time. The Revolving Credit Loans (other than Swing Loans) shall be made pro rata PRO RATA in accordance with each BankLender's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 11 and Section 1112, in the case of the initial LoanRevolving Credit Loans to be made on the Closing Date, and Section 1112, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Timberland Co), Revolving Credit Agreement (Timberland Co)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Advance Termination Date upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing Base, difference of (i) the aggregate Designated Collateral Value minus (ii) an amount equal to the aggregate Holdback; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Borrower may repay and reborrow from time to time between the Closing Date and the Revolving Credit Termination Date. Notwithstanding anything herein to the contrary, in no event shall the amount of the Loans (advanced for purposes permitted under this Agreement, other than Swing Loans) the purposes contemplated by Section 5.6, exceed $67,000,000.00, and in no event shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of be permitted to request Loans after the conditions set forth in Revolving Credit Termination Date except for amounts requested pursuant to Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note5.

Appears in 1 contract

Sources: Mezzanine Loan Agreement (Wellsford Real Properties Inc)

Commitment to Lend. Subject to Article 11 and the terms and conditions set forth in this Credit Agreement, each of the Banks Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (borrow, repay, and repay and reborrow) reborrow from time to time between from the Closing Effective Date and up to but not including the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.62.2(b), such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Lender’s Commitment and (b) minus such Bank's Lender’s Commitment Percentage of the Borrowing Basesum of (A) the Letter of Credit Usage plus (B) the Unpaid Reimbursement Obligations in respect of Letters of Credit, providedsubject at all times to any limitations contained within the Interim DIP Order or the Final DIP Order, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentageas applicable. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section Article 11, in the case of the initial LoanLoans to be made on the Effective Date, and Section 1111.2, in the case of all other Loans, have been satisfied on the date of such request. No Bank Notwithstanding the foregoing, after giving effect to all Borrowings, the Loans in the aggregate shall not have more than three (3) different Interest Periods in effect at any obligation to make Loans to one time unless otherwise agreed between the Borrower in and the maximum aggregate principal amount outstanding of more than the principal face amount of its NoteAgent.

Appears in 1 contract

Sources: Dip Credit Agreement

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.6§2.5, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 §2.7 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (a) such Bank's Commitment Lender’s Commitment, and (b) such Bank's Lender’s Commitment Percentage of the Borrowing Base, ; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) or shall not at any time exceed the Total Commitmentresult therefrom. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Lender’s Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section §10 and Section §11, in the case of the initial Loan, and Section 11, in the case of all other Loansas applicable, have been satisfied on the date of such request. No Bank Lender shall have any obligation to make Loans to the Borrower in the maximum an aggregate principal amount outstanding of more than the principal face amount of its Notewhich exceeds such Lender’s Commitment.

Appears in 1 contract

Sources: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing Base, difference of (i) the aggregate Designated Collateral Value minus (ii) an amount equal to the aggregate Holdback; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a The Loan hereunder Request shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Notefunding.

Appears in 1 contract

Sources: Revolving Credit Agreement (Wellsford Real Properties Inc)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 2.8 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to the lesser of (a) such BankLender's Commitment and (b) such BankLender's Commitment Percentage of the Borrowing Base, provided; PROVIDED, that, in all events no Default or Event of Default shall have occurred and be continuing; and providedPROVIDED, furtherFURTHER, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total CommitmentCommitment or cause a violation of the covenant set forth in Section 9. 1. The Loans (other than Swing Loans) shall be made pro rata PRO RATA in accordance with each BankLender's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, 11 have been satisfied on the date of such request. No Bank Notwithstanding anything herein to the contrary, the Lenders shall have any no obligation to make Loans to the Borrower in the maximum aggregate principal principle amount outstanding of more than $150,000,000.00, provided that the principal face Commitment shall be increased up to a maximum amount of its Note$250,000,000.00 if, as and when Tranche B is activated as provided in Section 2.

Appears in 1 contract

Sources: Revolving Credit Agreement (American Real Estate Investment Corp)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the BorrowerBorrowers, and the Borrower Borrowers may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower Borrowers to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower Borrowers for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing BaseBase and the Collateral Borrowing Base (whichever is less), provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower Borrowers that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower Borrowers in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 1 contract

Sources: Revolving Credit Agreement (Walden Residential Properties Inc)

Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Banks agrees severally agrees to lend to the Borrower, Borrower and the Borrower may borrow (borrow, repay, and repay and reborrow) reborrow from time to time between the Closing Effective Date and the Maturity Revolving Credit Termination Date upon notice by the Borrower to the Agent given 8 in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage Commitment, provided that the sum of the Borrowing Base, provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Revolving Credit Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Revolving Credit Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 11 and Section 1112A, in the case of the initial LoanRevolving Credit Loans to be made on the Effective Date, Sections 12 and 12A in the case of a Revolving Credit Loan which is an Acquisition Credit Loan and Section 1112A, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 1 contract

Sources: Credit Agreement (Raytel Medical Corp)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the BorrowerBorrower (the "Loans"), and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.6ss.2.5, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 ss.7.10 up to a maximum aggregate principal amount Outstanding at any one time equal to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) an amount equal to the Borrowing Base Availability multiplied by such Bank's Commitment Percentage of the Borrowing Base, Percentage; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, further that the outstanding principal amount of the Outstanding Loans (after giving effect to all amounts requested) shall not at any time anytime exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 ss.10 and Section 11ss.11, in the case of the initial Loan, and Section 11ss.11, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 1 contract

Sources: Revolving Credit Agreement (American Church Mortgage Co)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date Date, upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 2.9 (but subject to the limitations set forth in Section 2.9) up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requestedrequested and the amount of Letters of Credit outstanding, including Letters of Credit accepted but unpaid) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing Base, Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requestedrequested and the amount of Letters of Credit outstanding, including Letters of Credit accepted but unpaid) shall not at any time exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such requestrequest (except as otherwise permitted in Paragraph 4 of the form of Loan Request with respect to warranties and representations). No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 1 contract

Sources: Revolving Credit Agreement (Crescent Real Estate Equities Co)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks Lenders severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Lenders Commitment and (b) such Bank's Lenders Commitment Percentage of the Borrowing Base, ; provided, that, in all events no Default or Event of Default shall have occurred and be continuingcontinuing and the Borrowers financial statements as required pursuant to Section 2.6(iii) shall demonstrate compliance with all covenants set forth therein; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Lenders Commitment Percentage. Each request for a The Loan hereunder Request shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such requestfunding. No Bank Notwithstanding anything herein to the contrary, the Lenders shall have any no obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than $35,000,000.00, until the principal face amount Total Commitment shall be increased, up to a maximum of its Note$50,000,000.00, as and when one or more Lenders shall acquire from BKB all or a portion of the additional uncommitted Commitment of $15,000,000.00.

Appears in 1 contract

Sources: Revolving Credit Agreement (Wellsford Real Properties Inc)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.62.7, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 2.10 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the sum of (i) the Borrowing BaseBase MINUS (ii) the aggregate Letters of Credit Outstanding, providedPROVIDED, that, in all events no Default or Event of Default shall have occurred and be continuing; and providedPROVIDED, furtherFURTHER, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) and Letters of Credit Outstanding shall not at any time exceed the Total CommitmentCommitment or cause a violation of Section 9. 1. The Loans (other than Swing Loans) shall be made pro rata PRO RATA in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 1 contract

Sources: Revolving Credit Agreement (Price Legacy Corp)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date Date, upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 2.9 (but subject to the limitations set forth in Section 2.9) up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing Base, Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuingcontinuing and the Borrower's financial statements as required pursuant to Section 2.6(iii) shall demonstrate compliance with all covenants set forth therein; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such requestrequest (except as otherwise permitted in Paragraph 4 of the form of Loan Request with respect to warranties and representations). No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note. Notwithstanding anything herein to the contrary, the Banks shall have no obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than $750,000,000.00, provided that after BankBoston sells down its present Commitment to $100,000,000.00, the Total Commitment shall be increased up to a maximum of $850,000,000.00 as and when one or more Banks shall acquire from BankBoston all or a portion of the additional Commitment of $100,000,000.00.

Appears in 1 contract

Sources: Revolving Credit Agreement (Crescent Real Estate Equities Co)

Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Banks Lenders severally agrees to lend to the Borrower, Borrower and the Borrower may borrow (borrow, repay, and repay and reborrow) reborrow from time to time between from the Closing Date and to the Final Maturity Date upon notice by the Borrower to the Administrative Agent given in accordance with Section §2.6, such sums sums, in Dollars, as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Lender’s Commitment and (b) minus such Bank's Lender’s Commitment Percentage of the Borrowing Base, provided, that, in sum of the Maximum Drawing Amount and all events no Default or Event of Default shall have occurred and be continuingUnpaid Reimbursement Obligations; and provided, further, provided that the sum of the outstanding principal amount of the Loans (after giving effect to all amounts requested) plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the Total CommitmentCommitment at such time. The Revolving Credit Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Lender’s Commitment Percentage. Each request for a Revolving Credit Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section §10 and Section §11, in the case of the initial LoanRevolving Credit Loans to be made on the Closing Date, and Section §11, in the case of all other Revolving Credit Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 1 contract

Sources: Revolving Credit Agreement (Timberland Co)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the BorrowerBorrower (the "Loans"), and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.62.5, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding Outstanding (after giving effect to all amounts requestedrequested and the amount of Swing Line Loans and Letters of Credit Outstanding) at any one time equal to such Bank's Commitment and the lesser of (ba) such Bank's Commitment Percentage minus an amount equal to such Bank's participations in the Outstanding Swing Line Loans and aggregate Letters of Credit Outstanding and (b) an amount equal to the Borrowing Base, Base multiplied by such Bank's Commitment Percentage minus an amount equal to such Bank's participations in the Swing Line Loans and aggregate Letters of Credit Outstanding; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, further that the outstanding principal amount of the Outstanding Loans (including the Swing Line Loans, after giving effect to all amounts requested) and the Letters of Credit Outstanding shall not at any time anytime exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note."

Appears in 1 contract

Sources: Master Revolving Credit Agreement (Ramco Gershenson Properties Trust)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing BaseCommitment, providedPROVIDED, that, in all events no Default or Event of Default shall have occurred and be continuing; and providedPROVIDED, furtherFURTHER, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total CommitmentCommitment LESS the amount of the Interest Reserve. The Loans (other than Swing Loans) shall be made pro rata PRO RATA in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note. Notwithstanding anything herein to the contrary, the Banks shall have no obligation to make Loans to the Borrower in the maximum aggregate principle amount of more than (a) $15,000,000.00 at any time prior to December 31, 2000 and (b) $10,000,000.00 at any time on or after December 31, 2000.

Appears in 1 contract

Sources: Revolving Credit Agreement (Excel Legacy Corp)

Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Banks Lenders severally agrees to lend to the BorrowerBorrowers as joint and several borrowers, and the Borrower Borrowers may borrow (on a joint and repay several basis borrow, repay, and reborrow) , from time to time between from the Closing Date and up to but not including the Maturity Termination Date upon notice by the Borrower Borrowers to the Agent Agents given in accordance with Section 2.6ss.2.6.1, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 Borrowers up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such BankLender's Commitment and (b) MINUS such BankLender's Commitment Percentage of the Borrowing Basesum of the Commitment Reserve and all Letter of Credit Obligations, provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, PROVIDED that the sum of the outstanding principal amount of the Loans (after giving effect to all amounts requested) PLUS all Letter of Credit Obligations shall not at any time exceed the least of (i) the Total CommitmentCommitment in effect at such time MINUS the Commitment Reserve, (ii) the Borrowing Base and (iii) the amount approved to be borrowed by way of Loans and Letter of Credit Obligations in the Final Order. The Loans (other than Swing Loans) shall be made pro rata PRO RATA in accordance with each BankLender's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by each of the Borrower Borrowers that all of the conditions set forth in Section 10 ss.13 and Section 11ss.14, in the case of the initial LoanLoans to be made on the Closing Date, and Section 11ss.14, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 1 contract

Sources: Revolving Credit Agreement (Nationsrent Inc)

Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Banks severally agrees to lend to the Borrower, Borrower and the Borrower may borrow (borrow, repay, and repay and reborrow) reborrow from time to time between from the Closing Date and up to but not including the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) minus such Bank's Commitment Percentage of the Borrowing Basesum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations, provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, provided that the sum of the outstanding principal amount of the Loans (after giving effect to all amounts requested) plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 11 and Section 1112, in the case of the initial LoanLoans to be made on the Closing Date, and And Section 1112, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 1 contract

Sources: Revolving Credit Agreement (Cabot Microelectronics Corp)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the BorrowerBorrower (the "Loans"), and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.62.5, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding Outstanding (after giving effect to all amounts requested) at any one time equal not to exceed such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing Base, Commitment; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, further that the outstanding principal amount of the Outstanding Loans (after giving effect to all amounts requested) shall not at any time anytime exceed the Total CommitmentCommitment (as the same reduces pursuant to Section 3.6 below). The Loans (other than Swing Loans) shall be made pro rata ratA in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in iN the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 1 contract

Sources: Unsecured Revolving Loan Agreement (Ramco Gershenson Properties Trust)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing Base, provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for The funding of a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such requestfunding. No Bank Notwithstanding anything herein to the contrary, the Banks shall have any no obligation to make Loans to the Borrower in excess of the maximum aggregate principal amount outstanding of more than $100,000,000.00, provided that the principal face amount Commitment shall be increased up to a maximum of its Note$150,000,000.00 if, as and when Borrower activates Tranche B as provided in Section 2.8.

Appears in 1 contract

Sources: Revolving Credit Agreement (Storage Trust Realty)

Commitment to Lend. Subject to the terms and conditions set forth in this Credit Agreement, each of the Banks Lenders severally agrees to lend to the Borrower, Borrower and the Borrower may borrow (borrow, repay, and repay and reborrow) reborrow from time to time between from the Closing Date and up to but not including the Loan Maturity Date upon notice by the Borrower to the Administrative Agent given in accordance with Section §2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Lender’s Commitment and (b) minus such Bank's Lender’s Commitment Percentage of the Borrowing Basesum of the Maximum Drawing Amount and all Unpaid Reimbursement Obligations, provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, provided that the sum of the outstanding principal amount of the Loans (after giving effect to all amounts requested) plus the Maximum Drawing Amount and all Unpaid Reimbursement Obligations shall not at any time exceed the Total CommitmentCommitment at such time. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Lender’s Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in Section 10 §11 and Section 11§12, in the case of the initial LoanLoans to be made on the Closing Date, and Section 11§12, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 1 contract

Sources: Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the BorrowerBorrowers, and the Borrower Borrowers may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Date upon notice by the Borrower Borrowers to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower Borrowers for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing Base, provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Loans (other than Swing Loans) shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower Borrowers that all of the conditions set forth in Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower Borrowers in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note.

Appears in 1 contract

Sources: Revolving Credit Agreement (Walden Residential Properties Inc)

Commitment to Lend. Subject to the terms and conditions set forth in this Agreement, each of the Banks severally agrees to lend to the Borrower, and the Borrower may borrow (and repay and reborrow) from time to time between the Closing Date and the Maturity Advance Termination Date upon notice by the Borrower to the Agent given in accordance with Section 2.6, such sums as are requested by the Borrower for the purposes set forth in Section 7.11 up to the lesser of (a) a maximum aggregate principal amount outstanding (after giving effect to all amounts requested) at any one time equal to such Bank's Commitment and (b) such Bank's Commitment Percentage of the Borrowing Base, difference of (i) the aggregate Designated Collateral Value minus (ii) an amount equal to the aggregate Holdback; provided, that, in all events no Default or Event of Default shall have occurred and be continuing; and provided, further, that the outstanding principal amount of the Loans (after giving effect to all amounts requested) shall not at any time exceed the Total Commitment. The Borrower may repay and reborrow from time to time between the Closing Date and the Revolving Credit Termination Date. Notwithstanding anything herein to the contrary, in no event shall the amount of the Loans (advanced for purposes permitted under this Agreement, other than Swing Loans) the purposes contemplated by Section 5.6, exceed $268,000,000.00, and in no event shall be made pro rata in accordance with each Bank's Commitment Percentage. Each request for a Loan hereunder shall constitute a representation and warranty by the Borrower that all of be permitted to request Loans after the conditions set forth in Revolving Credit Termination Date except for amounts requested pursuant to Section 10 and Section 11, in the case of the initial Loan, and Section 11, in the case of all other Loans, have been satisfied on the date of such request. No Bank shall have any obligation to make Loans to the Borrower in the maximum aggregate principal amount outstanding of more than the principal face amount of its Note5.

Appears in 1 contract

Sources: Loan Agreement (Wellsford Real Properties Inc)