Commitments; Loans Clause Samples
The 'Commitments; Loans' clause defines the obligations of lenders to provide loan funds and the borrower's right to draw on those funds under specified conditions. Typically, this clause outlines the maximum amount available, the process for requesting advances, and any limitations or requirements that must be met before funds are disbursed. Its core function is to establish clear terms for the availability and use of loan proceeds, ensuring both parties understand when and how funds can be accessed, thereby reducing uncertainty and potential disputes.
Commitments; Loans. (a) Prior to the Effective Date, certain “Revolving Loans” were made to certain of the Borrowers under the Existing Credit Agreement which remain outstanding as of the Effective Date (such outstanding loans being hereinafter referred to as the “Existing Revolving Loans”). Subject to the terms and conditions set forth in this Agreement, each Borrower and each of the 2023 Revolving Lenders agree that on the Effective Date, but subject to the reallocation and other transactions described in Section 1.07, the Existing Revolving Loans shall be re-evidenced as 2023 Revolving Loans under this Agreement and the terms of the Existing Revolving Loans shall be restated in their entirety and shall be evidenced by this Agreement. Subject to the terms and conditions set forth herein, each 2023 Revolving Lender (severally and not jointly) agrees to make 2023 Revolving Loans to the Borrowers in Agreed Currencies from time to time during the 2023 Revolving Availability Period in an aggregate principal amount that will not result in (a) subject to Section 2.04, the Dollar Amount of such Lender’s 2023 Revolving Credit Exposure exceeding such Lender’s 2023 Revolving Commitment or (b) subject to Section 2.04, the sum of the Dollar Amount of the total 2023 Revolving Credit Exposures exceeding the 2023 Aggregate Revolving Commitment. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow 2023 Revolving Loans.
(b) Subject to the terms and conditions set forth herein, each Tranche A-1 Term Loan Lender (severally and not jointly) agreed to make Tranche A-1 Term Loans to Capri Holdings in Dollars in a single draw on one date during the Term Loan Availability Period, in an aggregate principal amount not to exceed such Term Loan Lender’s outstanding Tranche A-1 Term Loan Commitment immediately prior to the making of such Tranche A-1 Term Loans. Amounts paid or prepaid in respect of the Tranche A-1 Term Loans may not be reborrowed.
(c) Subject to the terms and conditions set forth herein, each Tranche A-2 Term Loan Lender (severally and not jointly) agreed to make Tranche A-2 Term Loans to Capri Holdings in Dollars in a single draw on one date during the Term Loan Availability Period, in an aggregate principal amount not to exceed such Term Loan Lender’s outstanding Tranche A-2 Term Loan Commitment immediately prior to the making of such Tranche A-2 Term Loans. Amounts paid or prepaid in respect of the Tranche...
Commitments; Loans. (a) Subject to the terms and conditions and relying upon the representations and warranties herein set forth, each Lender agrees, severally and not jointly, to make revolving loans (“Loans”) in Dollars to each Borrower at any time and from time to time from and including the date hereof to but excluding the Termination Date, or until the earlier termination of its Commitment, in an aggregate principal amount at any one time outstanding not to exceed the amount of its Commitment; provided that (i) the aggregate principal amount of all Loans to any Borrower outstanding at any time shall not exceed such Borrower’s Sublimit and (ii) the Total Extensions of Credit shall not exceed the Total Commitments. Loans made to any Borrower shall be the several obligations of such Borrower.
(b) The Loans made by the Lenders on any Borrowing Date that are ABR Loans shall be (i) in a minimum aggregate principal amount of $1,000,000, (ii) in an integral multiple of $500,000 in excess of the amount provided in clause (i) above or (iii) in an aggregate principal amount equal to the remaining balance of the Total Commitment, as the case may be. The Loans made by the Lenders on any Borrowing Date that are Eurodollar Loans shall be (A) in a minimum aggregate principal amount of $3,000,000 (or, if less, in the amount of the Total Commitments less the Total Extensions of Credit) or (B) in an integral multiple of $1,000,000 in excess of the amount provided in clause (A) above, as the case may be.
Commitments; Loans. (i) Each Lender severally agrees, subject to the limitations set forth below with respect to the maximum amount of Loans permitted to be outstanding from time to time, to lend to the Borrower from time to time in U.S. Dollars during the period on and from the Effective Date to but excluding the Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Commitments, to be used for the purposes identified in Section 2.5A. The aggregate amount of the Commitments as of the Effective Date is $800,000,000. Subject to Section 2.9, each Lender’s Commitment (other than Other Credit Extensions or any Commitments amended by Permitted Amendments pursuant to a Loan Modification Offer) shall expire on the Commitment Termination Date and all Loans (other than Other Credit Extensions or any Loans amended by Permitted Amendments pursuant to a Loan Modification Offer) and all other amounts owed hereunder with respect to the Loans and the Commitments (other than Other Credit Extensions or any Commitments or Loans amended by Permitted Amendments pursuant to a Loan Modification Offer) shall be paid in full not later than that date. Amounts borrowed under this Section 2.1A(i) may be repaid and reborrowed, subject to the limitations and conditions set forth herein, up to but excluding the Commitment Termination Date. Notwithstanding anything contained herein to the contrary, in no event shall the Revolving Exposure at any time exceed the Availability Amount then in effect.
Commitments; Loans. Subject to the terms and conditions set forth herein, each Lender agrees to make Loans denominated in dollars to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Loans.
Commitments; Loans. 49 ------------------ 2.2 Interest on the Loans....................................................................... 59 --------------------- 2.3 Fees........................................................................................ 63 ---- 2.4
Commitments; Loans. (i) Each Revolving Loan Lender severally agrees, subject to the limitations set forth below with respect to the maximum amount of Revolving Loans permitted to be outstanding from time to time, to lend to the Borrowers from time to time in U.S. Dollars and/or Canadian Dollars during the period on and from the Effective Date to but excluding the Commitment Termination Date an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Commitments, to be used for the purposes identified in Section 2.5B. The aggregate original amount of the Commitments is $75,000,000. Subject to Section 2.9, each Revolving Loan Lender’s Commitment (other than Other Credit Extensions or any Commitments amended by Permitted Amendments pursuant to a Loan Modification Offer) shall expire on the Commitment Termination Date and all Revolving Loans (other than Other Credit Extensions or any Loans amended by Permitted Amendments pursuant to a Loan Modification Offer) and all other amounts owed hereunder with respect to the Revolving Loans and the Commitments (other than Other Credit Extensions or any Commitments or Loans amended by Permitted Amendments pursuant to a Loan Modification Offer) shall be paid in full no later than that date. Amounts borrowed under this Section 2.1A(i) may be repaid and reborrowed, subject to the limitations and conditions set forth herein, up to but excluding the Commitment Termination Date. Notwithstanding anything contained herein to the contrary, in no event shall (i) the Total Utilization of Commitments at any time exceed the lesser of (a) the Commitments then in effect and (b) the Availability Amount then in effect or (ii) the aggregate Canadian Revolving Exposure at any time exceed 105% of the Canadian Sublimit then in effect.
Commitments; Loans. (a) Subject to the terms and conditions hereof, each Lender severally agrees to make Loans to the Borrower on the Closing Date in an aggregate principal amount equal to such Lender’s Commitment. Amounts borrowed under this Section 2.1 and repaid or prepaid hereunder may not be reborrowed. Each Lender’s Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Commitment on such date.
(b) The obligations of the Lenders hereunder to make Loans and to make payments pursuant to Section 9.7 are several and not joint. The failure of any Lender to make Loans or to make any such payment on any date shall not relieve any other Lender of its corresponding obligation, if any, hereunder to do so on such date, but no Lender shall be responsible for the failure of any other Lender to so make its Loan or to make any such payment required hereunder.
(c) The Borrower shall repay all outstanding Loans on the Maturity Date.
Commitments; Loans. Subject to the terms and conditions set forth herein, each Lender agrees to make Loans denominated in the Agreed Currencies (selected by the Borrower) to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment; provided that the aggregate Dollar Equivalent amount of Loans denominated Canadian Dollars, Euros and/or Pounds Sterling shall not exceed $500,000,000 at any time. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Loans.
Commitments; Loans. 14 Section 2.1 Loans. . . . . . . . . . . . . . . . . . . 14 Section 2.2
Commitments; Loans. 29 2.2 Interest on the Loans. . . . . . . . . . . . . . . . . . 37 2.3 Fees . . . . . . . . . . . . . . . . . . . . . . .