Common use of Facility Limit Clause in Contracts

Facility Limit. 2.3.1 As of the Closing Date, the aggregate maximum amount of the Facility is US$1,500,000,000. The aggregate of the principal amount of Advances of each Lender outstanding at any time shall not exceed its Commitment; 2.3.2 Where under the terms hereof, the Facility is cancelled, reduced or terminated, same may not subsequently be increased, any such cancellation, reduction or termination thereof being permanent. Unless otherwise expressly provided under the terms hereof, any reduction of the Facility shall be apportioned as among the Commitments of the Lenders under the Facility on a Rateable Share basis; 2.3.3 The Borrower may not draw upon the Facility at any time to the extent that, after giving effect to such Drawdown, the Available Facility is not at least equal to the ▇▇▇▇▇’▇ Notes Amount at such time (after giving effect to any repayment from the proceeds of such Drawdown), provided, however, that notwithstanding the foregoing, the Borrower may draw upon the Facility an amount equal to the lesser of the ▇▇▇▇▇’▇ Notes Amount and the Available Facility, at any time within 15 Business Days before the end of the Commitment Period, but only to use the proceeds from such Drawdown to repay a portion of the Existing Credit Facilities. ACT and the Borrower covenant and agree that an amount equal to the ▇▇▇▇▇’▇ Notes Amount will remain available under the Existing Credit Facilities until the ▇▇▇▇▇’▇ Notes Amount has been paid in full or the ▇▇▇▇▇’▇ Notes have been exchanged for Subordinated Debt.