Common use of Maximum number of Utilisations Clause in Contracts

Maximum number of Utilisations. (a) A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation: (i) more than one Term Loan (other than a Term Loan made available pursuant to Clause 2.2 (Increase)) would be outstanding; or (ii) more than two Term Facilities made available pursuant to Clause 2.2 (Increase) would be outstanding; (iii) (in respect of any specific Permitted Acquisition funded by a Term Facility made available pursuant to Clause 2.2 (Increase)) more than two Utilisations would be made available to fund such Permitted Acquisition; or (iv) more than twelve Revolving Facility Loans would be outstanding. (b) A Borrower (or the Company) may not request that the Term Loan be divided if, as a result of the proposed division, more than two Term Loans would be outstanding.

Appears in 1 contract

Sources: Facilities Agreement (StarTek, Inc.)

Maximum number of Utilisations. (a) A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation: (i) more than one Term Loan (other than a Term Loan made available pursuant to Clause 2.2 (Increase)) would be outstanding; or; (ii) more than two Term Facilities made available pursuant to Clause 2.2 (Increase) would be outstanding; (iii) (in respect of any specific Permitted Acquisition funded by a Term Facility made available pursuant to Clause 2.2 (Increase)) more than two Utilisations would be made available to fund such Permitted Acquisition; or (iv) more than twelve eight Revolving Facility Loans would be outstanding. (b) A Borrower (or the Company) may not request that the Term Loan be divided if, as a result of the proposed division, more than two Term Loans would be outstanding. (c) Any Separate Loan shall not be taken into account in this Clause 4.3.

Appears in 1 contract

Sources: Facilities Agreement (StarTek, Inc.)

Maximum number of Utilisations. (a) A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation: (i) more than one Term Loan (other than a Term Loan made available pursuant to Clause 2.2 (Increase)) would be outstanding; or (ii) more than two Term Facilities made available pursuant to Clause 2.2 (Increase) would be outstanding; (iii) (in respect of any specific Permitted Acquisition funded by a Term Facility made available pursuant to Clause 2.2 (Increase)) more than two Utilisations would be made available to fund such Permitted Acquisition; or (iv) more than twelve ten Revolving Facility Loans would be outstanding. (b) A Borrower (or the Company) may not request that the Term Loan be divided if, as a result of the proposed division, more than two Term Loans would be outstanding. (c) Any Separate Loan shall not be taken into account in this Clause 4.3 (Maximum number of Utilisations).

Appears in 1 contract

Sources: Facilities Agreement (StarTek, Inc.)

Maximum number of Utilisations. (a) A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation: (i) more than one Term Loan (other than a Term Loan made available pursuant to Clause 2.2 (Increase)) would be outstanding; or (ii) more than two Term Facilities made available pursuant to Clause 2.2 (Increase) would be outstanding; (iii) (in respect of any specific Permitted Acquisition funded by a Term Facility made available pursuant to Clause 2.2 (Increase)) more than two Utilisations would be made available to fund such Permitted Acquisition; or (iv) more than twelve five Revolving Facility Loans would be outstanding. (b) A Borrower (or the Company) may not request that the Term Loan be divided if, as a result of the proposed division, more than two Term Loans would be outstanding. (c) Any Separate Loan shall not be taken into account in this Clause 4.3 (Maximum number of Utilisations).

Appears in 1 contract

Sources: Facilities Agreement (StarTek, Inc.)