Common use of Limits on Advances Clause in Contracts

Limits on Advances. Notwithstanding any other term of this Agreement, the Borrower shall not request from any applicable Lender an Advance under a Credit Facility if, on the date a Notice of Borrowing is given pursuant to Section 3.9(1) or after giving effect to the Advance, the principal amount of all Advances Outstanding from such Lender would exceed such Lender’s applicable Commitment under such Credit Facility or the aggregate principal amount of all Advances Outstanding from all Lenders under such Credit Facility would exceed the applicable Commitment under such Credit Facility. In addition, the aggregate principal amount of Advances under each Credit Facility shall not at any time exceed the Total Commitment.

Appears in 2 contracts

Sources: Bridge and Term Loan Credit Agreement, Bridge and Term Loan Credit Agreement