Commitments to Make Loans. Subject to the terms and conditions of this Credit Agreement, each Lender severally agrees to make loans ("Revolving Credit Loans") to the Borrower from time to time from the Effective Date through the Availability Termination Date as requested by the Borrower in accordance with the terms of Section 2.2 hereof; provided, that (a) the aggregate principal amount of all outstanding Revolving Credit Loans (after giving effect to any amount requested) plus all outstanding Swing Line Loans and L/C Obligations shall not exceed the Aggregate Commitment; and (b) the sum of (i) the principal amount of outstanding Revolving Credit Loans (after giving effect to any amount requested) from any Lender to the Borrower plus (ii) the product of (x) such Lender's Commitment Percentage multiplied by (y) the aggregate outstanding L/C Obligations and Swing Line Loans, shall not at any time exceed such Lender's Commitment as set forth on Schedule 1 hereto. Each Revolving Credit Loan by a Lender shall be in a principal amount equal to such Lender's Commitment Percentage of the aggregate principal amount of Revolving Credit Loan requested on such occasion. Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow Revolving Credit Loans hereunder until the Availability Termination Date
Appears in 1 contract
Commitments to Make Loans. (a) Subject to the terms and conditions of this Credit Agreement, each Lender severally agrees to make loans ("Revolving Credit Loans"each such loan, a “Loan”) to the Borrower from time to time from the Effective Date through time, on any Business Day during the Availability Termination Date as requested by Period, in an aggregate amount not to exceed at any time outstanding the Borrower in accordance with lesser of (x) the terms amount of Section 2.2 hereofsuch Lender’s Commitment and (y) such Lender’s Pro Rata share of the Borrowing Base; provided, however, that (a) the aggregate principal amount of all outstanding Revolving Credit Loans (after giving effect to any amount requestedBorrowing, (i) plus all outstanding Swing Line Loans and L/C Obligations the Aggregate Outstanding Amount shall not exceed the lesser of (x) the Aggregate Commitment; Commitments and (by) the sum of (i) the principal amount of outstanding Revolving Credit Loans (after giving effect to any amount requested) from any Lender to the Borrower plus Borrowing Base, and (ii) the product aggregate Outstanding Amount of the Loans of any Lender shall not exceed the lesser of (x) such Lender's ’s Commitment Percentage multiplied by and (y) the aggregate outstanding L/C Obligations and Swing Line Loans, shall not at any time exceed such Lender's Commitment as set forth on Schedule 1 hereto. Each Revolving Credit Loan by a Lender shall be in a principal amount equal to such Lender's Commitment Percentage ’s Pro Rata share of the aggregate principal amount Borrowing Base. Within the limits of Revolving Credit Loan requested on such occasion. Subject each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrower may borrowborrow under this Section 2.01, repay prepay under Section 2.05, and reborrow Revolving Credit under this Section 2.01. Loans hereunder until may be Base Rate Loans or Eurodollar Loans, as further provided herein
(b) Each Lender’s Commitment shall expire on the last day of the Availability Termination DatePeriod, after giving effect to any Borrowing made on such day.
Appears in 1 contract
Sources: Revolving Credit Agreement (Textainer Group Holdings LTD)
Commitments to Make Loans. Subject to the terms and conditions of this Credit Agreement, each Lender severally agrees to make loans ("“Revolving Credit Loans"”) to the Borrower from time to time from the Effective Date through the Availability Termination Date as requested by the Borrower in accordance with the terms of Section 2.2 hereof; provided, that (a) the aggregate principal amount of all outstanding Revolving Credit Loans (after giving effect to any amount requested) plus all outstanding Swing Line Loans and L/C Obligations shall not exceed the Aggregate Commitment; and (b) the sum of (i) the principal amount of outstanding Revolving Credit Loans (after giving effect to any amount requested) from any Lender to the Borrower plus (ii) the product of (x) such Lender's ’s Commitment Percentage multiplied by (y) the aggregate outstanding L/C Obligations and Swing Line Loans, shall not at any time exceed such Lender's ’s Commitment as set forth on Schedule 1 hereto. Each Revolving Credit Loan by a Lender shall be in a principal amount equal to such Lender's ’s Commitment Percentage of the aggregate principal amount of Revolving Credit Loan requested on such occasion. Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow Revolving Credit Loans hereunder until the Availability Termination Date.
Appears in 1 contract
Commitments to Make Loans. Subject to the terms and conditions of this Credit Agreement, each Lender severally agrees to make loans ("Revolving Credit collectively, the “Loans"”) to the Borrower from time to time from during the Effective Date through the Availability Termination Date Revolving Period as requested by the Borrower in accordance with the terms of Section 2.2 hereof; provided, that (a) the aggregate principal amount of all outstanding Revolving Credit Loans (after giving effect to any the amount requested) plus all outstanding Swing Line Loans and L/C Obligations shall not exceed the lesser of (i) the Aggregate Commitment; Commitments and (ii) the Asset Base and (b) the sum of (i) the principal amount of outstanding Revolving Credit Loans (after giving effect to any amount requested) from any Lender to the Borrower plus (ii) the product of (x) such Lender's Commitment Percentage multiplied by (y) the aggregate outstanding L/C Obligations and Swing Line Loans, shall not at any time exceed such Lender's ’s Commitment as set forth on Schedule 1 hereto. Each Revolving Credit Loan by a Lender shall be in a principal amount equal to such Lender's ’s Commitment Percentage of the aggregate principal amount of Revolving Credit the Loan requested on such occasion. Subject to the terms and conditions hereof, the Borrower may borrow, repay and reborrow Revolving Credit Loans hereunder until during the Availability Termination DateRevolving Period. Loans may be Base Rate Loans or LIBOR Rate Loans, as further provided herein; provided, however, any Loans made on the Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the Borrower delivers a funding indemnity letter not less than three (3) Business Days prior to the date of funding of such Loan.
Appears in 1 contract