Common use of Multicurrency Commitments Clause in Contracts

Multicurrency Commitments. (a) Subject to the terms and conditions hereof, each Multicurrency Lender severally agrees to make (or cause its Applicable Lending Office to make) revolving loans (“Multicurrency Loans”) in Dollars or any Optional Currency to the Company, GMF or any Foreign Subsidiary Borrower from time to time during the Commitment Period of such Multicurrency Lender; provided, that, after giving effect to such borrowing and the use of proceeds thereof, (i) such Lender’s Multicurrency Extensions of Credit do not exceed the amount of such Lender’s Multicurrency Commitments, (ii) the Total Multicurrency Extensions of Credit shall not exceed the Total Multicurrency Commitments then in effect, (iii) the Total Consolidated GMF Exposure shall not exceed $2 billion and (iv) the Total Extensions of Credit shall not exceed the Total Commitments then in effect. During the Commitment Period of the applicable Multicurrency Lenders for the Multicurrency Facility, the Company and any relevant Subsidiary Borrower may use the Multicurrency Commitments by borrowing, prepaying the Multicurrency Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Multicurrency Loans shall be Eurocurrency Loans or (if made to the Company and denominated in Dollars) ABR Loans, in each case, as notified to the Administrative Agent in accordance with Section 2.4 and 2.17. (b) The Company and, to the extent of its borrowings, any relevant Subsidiary Borrower shall repay all outstanding Multicurrency Loans of a Lender on the Termination Date for such Lender under the Multicurrency Facility. (c) Subject to the terms of this Agreement and the relevant Ancillary Facility Document(s), any Lender may make all or part of its Multicurrency Commitment available to any Ancillary Borrower as an Ancillary Facility. For the avoidance of doubt, any reference to a Multicurrency Loan, Multicurrency Competitive Loan, Loan or Letter of Credit shall not include any utilization of any Ancillary Facility.

Appears in 2 contracts

Sources: 3 Year Revolving Credit Agreement (General Motors Financial Company, Inc.), 3 Year Revolving Credit Agreement (General Motors Co)

Multicurrency Commitments. (a) Subject to the terms and conditions hereof, each Multicurrency Lender severally agrees to make (or cause its Applicable Lending Office to make) revolving loans (“Multicurrency Loans”) in Dollars or any Optional Currency to the Company, GMF or any Foreign Subsidiary Borrower from time to time during the Commitment Period of such Multicurrency Lender; provided, that, after giving effect to such borrowing and the use of proceeds thereof, (ithereof,(i) such Lender’s Multicurrency Extensions of Credit do not exceed the amount of such Lender’s Multicurrency Commitments, (ii) the Total Multicurrency Extensions of Credit shall not exceed the Total Multicurrency Commitments then in effect, (iii) the Total Consolidated GMF Exposure shall not exceed $2 billion and (iv) the Total Extensions of Credit shall not exceed the Total Commitments then in effect. During the Commitment Period of the applicable Multicurrency Lenders for the Multicurrency Facility, the Company and any relevant Subsidiary Borrower may use the Multicurrency Commitments by borrowing, prepaying the Multicurrency Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Multicurrency Loans shall be Eurocurrency Loans or (if made to the Company and denominated in Dollars) ABR Loans, in each case, as notified to the Administrative Agent in accordance with Section 2.4 and 2.172.15. (b) The Company and, to the extent of its borrowings, any relevant Subsidiary Borrower shall repay all outstanding Multicurrency Loans of a Lender on the Termination Date for such Lender under the Multicurrency Facility. (c) Subject to the terms of this Agreement and the relevant Ancillary Facility Document(s), any Lender may make all or part of its Multicurrency Commitment available to any Ancillary Borrower as an Ancillary Facility. For the avoidance of doubt, any reference to a Multicurrency Loan, Multicurrency Competitive Loan, Loan or Letter of Credit shall not include any utilization of any Ancillary Facility.

Appears in 2 contracts

Sources: 5 Year Revolving Credit Agreement (General Motors Co), 5 Year Revolving Credit Agreement (General Motors Financial Company, Inc.)

Multicurrency Commitments. (a) Subject to the terms and conditions hereof, each Multicurrency Lender severally agrees to make (or cause its Applicable Lending Office to make) revolving loans (“Multicurrency Loans”) in Dollars or any Optional Currency to the Company, GMF or any Foreign Subsidiary Borrower from time to time during the Commitment Period of such Multicurrency Lender; provided, that, after giving effect to such borrowing and the use of proceeds thereof, (ithereof,(i) such Lender’s Multicurrency Extensions of Credit do not exceed the amount of such Lender’s Multicurrency Commitments, (ii) the Total Multicurrency Extensions of Credit shall not exceed the Total Multicurrency Commitments then in effect, (iii) the Total Consolidated GMF Exposure shall not exceed $2 3 billion and (iv) the Total Extensions of Credit shall not exceed the Total Commitments then in effect. During the Commitment Period of the applicable Multicurrency Lenders for the Multicurrency Facility, the Company and any relevant Subsidiary Borrower may use the Multicurrency Commitments by borrowing, prepaying the Multicurrency Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Multicurrency Loans shall be Eurocurrency Loans or (if made to the Company and denominated in Dollars) ABR Loans, in each case, as notified to the Administrative Agent in accordance with Section 2.4 and 2.172.12. (b) The Company and, to the extent of its borrowings, any relevant Subsidiary Borrower shall repay all outstanding Multicurrency Loans of a Lender on the Termination Date for such Lender under the Multicurrency Facility. (c) Subject to the terms of this Agreement and the relevant Ancillary Facility Document(s), any Lender may make all or part of its Multicurrency Commitment available to any Ancillary Borrower as an Ancillary Facility. For the avoidance of doubt, any reference to a Multicurrency Loan, Multicurrency Competitive Loan, Loan or Letter of Credit shall not include any utilization of any Ancillary Facility.

Appears in 1 contract

Sources: 5 Year Revolving Credit Agreement (General Motors Financial Company, Inc.)

Multicurrency Commitments. (a) Subject to the terms and conditions hereof, each Multicurrency Lender severally agrees to make (or cause its Applicable Lending Office to make) revolving loans (“Multicurrency Loans”) in Dollars or any Optional Currency to the Company, GMF or any Foreign Subsidiary Borrower from time to time during the Commitment Period of such Multicurrency Lender; provided, that, after giving effect to such borrowing and the use of proceeds thereof, (i) such Lender’s Multicurrency Extensions of Credit do not exceed the amount of such Lender’s Multicurrency Commitments, (ii) the Total Multicurrency Extensions of Credit shall not exceed the Total Multicurrency Commitments then in effect, (iii) the Total Consolidated GMF Exposure shall not exceed $2 1 billion and (iv) the Total Extensions of Credit shall not exceed the Total Commitments then in effect. During the Commitment Period of the applicable Multicurrency Lenders for the Multicurrency Facility, the Company and any relevant Subsidiary Borrower may use the Multicurrency Commitments by borrowing, prepaying the Multicurrency Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Multicurrency Loans shall be Eurocurrency Loans or (if made to the Company and denominated in Dollars) ABR Loans, in each case, as notified to the Administrative Agent in accordance with Section 2.4 and 2.172.14. (b) The Company and, to the extent of its borrowings, any relevant Subsidiary Borrower shall repay all outstanding Multicurrency Loans of a Lender on the Termination Date for such Lender under the Multicurrency Facility. (c) Subject to the terms of this Agreement and the relevant Ancillary Facility Document(s), any Lender may make all or part of its Multicurrency Commitment available to any Ancillary Borrower as an Ancillary Facility. For the avoidance of doubt, any reference to a Multicurrency Loan, Multicurrency Competitive Loan, Loan or Letter of Credit shall not include any utilization of any Ancillary Facility.

Appears in 1 contract

Sources: 3 Year Revolving Credit Agreement (General Motors Financial Company, Inc.)

Multicurrency Commitments. (a) Subject to the terms and conditions hereof, each Multicurrency Lender severally agrees to make (or cause its Applicable Lending Office to make) revolving loans (“Multicurrency Loans”) in Dollars or any Optional Currency to the Company, GMF or any Foreign Subsidiary Borrower from time to time during the Commitment Period of such Multicurrency Lender; provided, that, after giving effect to such borrowing and the use of proceeds thereof, (i) such Lender’s Multicurrency Extensions of Credit do not exceed the amount of such Lender’s Multicurrency Commitments, (ii) the Total Multicurrency Extensions of Credit shall not exceed the Total Multicurrency Commitments then in effect, effect and (iii) the Total Consolidated GMF Exposure shall not exceed $2 billion and (iv) the Total Extensions of Credit shall not exceed the Total Commitments then in effect. During the Commitment Period of the applicable Multicurrency Lenders for the Multicurrency Facility, the Company and any relevant Subsidiary Borrower may use the Multicurrency Commitments by borrowing, prepaying the Multicurrency Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Multicurrency Loans shall be Eurocurrency Loans or (if made to the Company and denominated in Dollars) ABR Loans, in each case, as notified to the Administrative Agent in accordance with Section 2.4 and 2.172.14. (b) The Company and, to the extent of its borrowings, any relevant Subsidiary Borrower shall repay all outstanding Multicurrency Loans of a Lender on the Termination Date for such Lender under the Multicurrency Facility. (c) Subject to the terms of this Agreement and the relevant Ancillary Facility Document(s), any Lender may make all or part of its Multicurrency Commitment available to any Ancillary Borrower as an Ancillary Facility. For the avoidance of doubt, any reference to a Multicurrency Loan, Multicurrency Competitive Loan, Loan or Letter of Credit shall not include any utilization of any Ancillary Facility.

Appears in 1 contract

Sources: Revolving Credit Agreement (General Motors Financial Company, Inc.)

Multicurrency Commitments. (a) Subject to the terms and conditions hereof, each Multicurrency Lender severally agrees to make (or cause its Applicable Lending Office to make) revolving loans (“Multicurrency Loans”) in Dollars or any Optional Currency to the Company, GMF or any Foreign Subsidiary Borrower from time to time during the Commitment Period of such Multicurrency Lender; provided, that, after giving effect to such borrowing and the use of proceeds thereof, (i) such Lender’s 's Multicurrency Extensions of Credit do not exceed the amount of such Lender’s 's Multicurrency Commitments, (ii) prior to the Collateral Release Date, the Dollar Equivalent of the Outstanding Amount of Covered Debt shall not exceed the Borrowing Base at such time, (iii) the Total Multicurrency Extensions of Credit shall not exceed the Total Multicurrency Commitments then in effect, (iiiiv) the Total Consolidated GMF Exposure shall not exceed $2 4 billion and (ivv) the Total Extensions of Credit shall not exceed the Total Commitments then in effect. During the Commitment Period of the applicable Multicurrency Lenders for the Multicurrency Facility, the Company and any relevant Subsidiary Borrower may use the Multicurrency Commitments by borrowing, prepaying the Multicurrency Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Multicurrency Loans shall be Eurocurrency Loans or (if made to the Company and denominated in Dollars) ABR Loans, in each case, as notified to the Administrative Agent in accordance with Section 2.4 and 2.17. (b) The Company and, to the extent of its borrowings, any relevant Subsidiary Borrower shall repay all outstanding Multicurrency Loans of a Lender on the Termination Date for such Lender under the Multicurrency Facility. (c) Subject to the terms of this Agreement and the relevant Ancillary Facility Document(s), any Lender may make all or part of its Multicurrency Commitment available to any Ancillary Borrower as an Ancillary Facility. For the avoidance of doubt, any reference to a Multicurrency Loan, Multicurrency Competitive Loan, Loan or Letter of Credit shall not include any utilization of any Ancillary Facility.

Appears in 1 contract

Sources: Revolving Credit Agreement (General Motors Co)

Multicurrency Commitments. (a) Subject to the terms and conditions hereof, each Multicurrency Lender severally agrees to make (or cause its Applicable Lending Office to make) revolving loans (“Multicurrency Loans”) in Dollars or any Optional Currency to the Company, GMF Company or any Foreign Subsidiary Borrower from time to time during the Commitment Period of such Multicurrency Lender; provided, that, after giving effect to such borrowing and the use of proceeds thereof, (ithereof,(i) such Lender’s 's Multicurrency Extensions of Credit do not exceed the amount of such Lender’s 's Multicurrency Commitments, (ii) prior to the Collateral Release Date, the Dollar Equivalent of the Outstanding Amount of Covered Debt shall not exceed the Borrowing Base at such time, (iii) the Total Multicurrency Extensions of Credit shall not exceed the Total Multicurrency Commitments then in effect, (iii) the Total Consolidated GMF Exposure shall not exceed $2 billion effect and (iv) the Total Extensions of Credit shall not exceed the Total Commitments then in effect. During the Commitment Period of the applicable Multicurrency Lenders for the Multicurrency Facility, the Company and any relevant Subsidiary Borrower may use the Multicurrency Commitments by borrowing, prepaying the Multicurrency Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Multicurrency Loans shall be Eurocurrency Loans or (if made to the Company and denominated in Dollars) ABR Loans, in each case, as notified to the Administrative Agent in accordance with Section 2.4 and 2.17.2.13. 509265-1725-08888-13316466 39 (b) The Company and, to the extent of its borrowings, any relevant Subsidiary Borrower shall repay all outstanding Multicurrency Loans of a Lender on the Termination Date for such Lender under the Multicurrency Facility. (c) Subject to the terms of this Agreement and the relevant Ancillary Facility Document(s), any Lender may make all or part of its Multicurrency Commitment available to any Ancillary Borrower as an Ancillary Facility. For the avoidance of doubt, any reference to a Multicurrency Loan, Multicurrency Competitive Loan, Loan or Letter of Credit shall not include any utilization of any Ancillary Facility.

Appears in 1 contract

Sources: Revolving Credit Agreement (General Motors Co)

Multicurrency Commitments. (a) Subject to the terms and conditions hereof, each Multicurrency Lender severally agrees to make (or cause its Applicable Lending Office to make) revolving loans (“Multicurrency Loans”) in Dollars or any Optional Currency to the Company, GMF or any Foreign Subsidiary Borrower from time to time during the Commitment Period of such Multicurrency Lender; provided, that, after giving effect to such borrowing and the use of proceeds thereof, (i) such Lender’s 's Multicurrency Extensions of Credit do not exceed the amount of such Lender’s 's Multicurrency Commitments, (ii) prior to the Collateral Release Date, the Dollar Equivalent of the Outstanding Amount of Covered Debt shall not exceed the Borrowing Base at such time, (iii) the Total Multicurrency Extensions of Credit shall not exceed the Total Multicurrency Commitments then in effect, (iiiiv) the Total Consolidated GMF Exposure shall not exceed $2 4 billion and (ivv) the Total Extensions of Credit shall not exceed the Total Commitments then in effect. During the Commitment Period of the applicable Multicurrency Lenders for the Multicurrency Facility, the Company and any relevant Subsidiary Borrower may use the Multicurrency Commitments by borrowing, prepaying the Multicurrency Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Multicurrency Loans shall be Eurocurrency Loans or (if made to the Company and denominated in Dollars) ABR Loans, in each case, as notified to the Administrative Agent in accordance with Section 2.4 and 2.17. (b) The Company and, to the extent of its borrowings, any relevant Subsidiary Borrower shall repay all outstanding Multicurrency Loans of a Lender on the Termination Date for such Lender under the Multicurrency Facility. (c) Subject to the terms of this Agreement and the relevant Ancillary Facility Document(s), any Lender may make all or part of its Multicurrency Commitment available to any Ancillary Borrower as an Ancillary Facility. For the avoidance of doubt, any reference to a Multicurrency Loan, Multicurrency Competitive Loan, Loan or Letter of Credit shall not include any utilization of any Ancillary Facility.509265-1725-11432-13209999

Appears in 1 contract

Sources: Revolving Credit Agreement (General Motors Financial Company, Inc.)

Multicurrency Commitments. (a) Subject to the terms and conditions hereof, each Designated Multicurrency Lender with respect to any Borrower severally agrees to make (or cause its Applicable Lending Office to make) revolving credit loans (“Multicurrency Loans”each a "MULTICURRENCY LOAN") in Dollars or any Optional Currency to the Company, GMF Company in any Available Foreign Currency or to any Foreign Subsidiary Borrower in any Available Foreign Currency or in U.S. Dollars, as the case may be, from time to time during prior to the Facility Termination Date so long as after giving effect thereto and any concurrent repayment or prepayment of Loans (a) the Available Pro Rata Multicurrency Commitment Period and the Available Non-Pro Rata Multicurrency Commitment, as applicable, of each Multicurrency Lender is greater than or equal to zero, (b) the Aggregate Multicurrency Outstandings of all Lenders does not exceed an amount of which the U.S. Dollar Equivalent (as at 29 30 the date of such Multicurrency Lender; provided, that, after giving effect to such borrowing and Loan) equals the use of proceeds thereofAggregate Multicurrency Commitments, (ic) the Aggregate Multicurrency Outstandings of all the Lenders solely with respect to all Non-Pro Rata Multicurrency Loans does not exceed an amount of which the U.S. Dollar Equivalent (as at the date of such Lender’s Non-Pro Rata Multicurrency Extensions Loan) equals the Aggregate Activated Non-Pro Rata Multicurrency Commitments, and (d) the Aggregate Ratable Outstandings of Credit all Lenders do not exceed the amount of such Lender’s Multicurrency Aggregate Revolving Credit Commitments. Prior to the Facility Termination Date, (ii) the Total Multicurrency Extensions of Credit shall not exceed the Total Multicurrency Commitments then in effect, (iii) the Total Consolidated GMF Exposure shall not exceed $2 billion and (iv) the Total Extensions of Credit shall not exceed the Total Commitments then in effect. During the Commitment Period of the applicable Multicurrency Lenders for the Multicurrency Facility, the Company and any relevant Subsidiary Borrower may use the Multicurrency Commitments by borrowing, prepaying repaying the Multicurrency Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Multicurrency Loans shall be Eurocurrency Loans or (if made to the Company and denominated in Dollars) ABR Loans, in each case, as notified to the Administrative Agent in accordance with Section 2.4 and 2.17. (b) The Company and, to the extent of its borrowings, any relevant Subsidiary Borrower shall repay all outstanding Multicurrency Loans of a Lender on the Termination Date for such Lender under the Multicurrency Facility. (c) Subject to the terms of this Agreement and the relevant Ancillary Facility Document(s), any Lender may make all or part of its Multicurrency Commitment available to any Ancillary Borrower as an Ancillary Facility. For the avoidance of doubt, any reference to a Multicurrency Loan, Multicurrency Competitive Loan, Loan or Letter of Credit shall not include any utilization of any Ancillary Facility.

Appears in 1 contract

Sources: Revolving Credit Agreement (Arvinmeritor Inc)

Multicurrency Commitments. (a) Subject to the terms and conditions hereof, each Multicurrency Lender severally agrees to make (or cause its Applicable Lending Office to make) revolving loans (“Multicurrency Loans”) in Dollars or any Optional Currency to the Company, GMF or any Foreign Subsidiary Borrower from time to time during the Commitment Period of such Multicurrency Lender; provided, that, after giving effect to such borrowing and the use of proceeds thereof, (ithereof,(i) such Lender’s Multicurrency Extensions of Credit do not exceed the amount of such Lender’s Multicurrency Commitments, (ii) the Total Multicurrency Extensions of Credit shall not exceed the Total Multicurrency Commitments then in effect, effect and (iii) the Total Consolidated GMF Exposure shall not exceed $2 billion and (iv) the Total Extensions of Credit shall not exceed the Total Commitments then in effect. During the Commitment Period of the applicable Multicurrency Lenders for the Multicurrency Facility, the Company and any relevant Subsidiary Borrower may use the Multicurrency Commitments by borrowing, prepaying the Multicurrency Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Multicurrency Loans shall be Eurocurrency Loans or (if made to the Company and denominated in Dollars) ABR Loans, in each case, as notified to the Administrative Agent in accordance with Section 2.4 and 2.172.12. (b) The Company and, to the extent of its borrowings, any relevant Subsidiary Borrower shall repay all outstanding Multicurrency Loans of a Lender on the Termination Date for such Lender under the Multicurrency Facility. (c) Subject to the terms of this Agreement and the relevant Ancillary Facility Document(s), any Lender may make all or part of its Multicurrency Commitment available to any Ancillary Borrower as an Ancillary Facility. For the avoidance of doubt, any reference to a Multicurrency Loan, Multicurrency Competitive Loan, Loan or Letter of Credit shall not include any utilization of any Ancillary Facility.

Appears in 1 contract

Sources: 5 Year Revolving Credit Agreement (General Motors Co)

Multicurrency Commitments. (a) Subject to the terms and conditions hereof, each Designated Multicurrency Lender with respect to any Borrower severally agrees to make (or cause its Applicable Lending Office to make) revolving credit loans (“Multicurrency Loans”each a "MULTICURRENCY LOAN") in Dollars or any Optional Currency to the Company, GMF Company in any Available Foreign Currency or to any Foreign Subsidiary Borrower in any Available Foreign Currency or in U.S. Dollars, as the case may be, from time to time during prior to the Facility Termination Date so long as after giving effect thereto and any concurrent repayment or prepayment of Loans (a) the Available Pro Rata Multicurrency Commitment Period and the Available Non-Pro Rata Multicurrency Commitment, as applicable, of each Multicurrency Lender is greater than or equal to zero, (b) the Aggregate Multicurrency Outstandings of all Lenders does not exceed an amount of which the U.S. Dollar Equivalent (as at the date of such Multicurrency Lender; provided, that, after giving effect to such borrowing and Loan) equals the use of proceeds thereofAggregate Multicurrency Commitments, (ic) the Aggregate Multicurrency Outstandings of all the Lenders solely with respect to all Non-Pro Rata Multicurrency Loans does not exceed an amount of which the U.S. Dollar Equivalent (as at the date of such Lender’s Non-Pro Rata Multicurrency Extensions Loan) equals the Aggregate Activated Non-Pro Rata Multicurrency Commitments, and (d) the Aggregate Ratable Outstandings of Credit all Lenders do not exceed the amount of such Lender’s Multicurrency Aggregate Revolving Credit Commitments. Prior to the Facility Termination Date, (ii) the Total Multicurrency Extensions of Credit shall not exceed the Total Multicurrency Commitments then in effect, (iii) the Total Consolidated GMF Exposure shall not exceed $2 billion and (iv) the Total Extensions of Credit shall not exceed the Total Commitments then in effect. During the Commitment Period of the applicable Multicurrency Lenders for the Multicurrency Facility, the Company and any relevant Subsidiary Borrower may use the Multicurrency Commitments by borrowing, prepaying repaying the Multicurrency Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Multicurrency Loans shall be Eurocurrency Loans or (if made to the Company and denominated in Dollars) ABR Loans, in each case, as notified to the Administrative Agent in accordance with Section 2.4 and 2.17. (b) The Company and, to the extent of its borrowings, any relevant Subsidiary Borrower shall repay all outstanding Multicurrency Loans of a Lender on the Termination Date for such Lender under the Multicurrency Facility. (c) Subject to the terms of this Agreement and the relevant Ancillary Facility Document(s), any Lender may make all or part of its Multicurrency Commitment available to any Ancillary Borrower as an Ancillary Facility. For the avoidance of doubt, any reference to a Multicurrency Loan, Multicurrency Competitive Loan, Loan or Letter of Credit shall not include any utilization of any Ancillary Facility.

Appears in 1 contract

Sources: 5 Year Revolving Credit Agreement (Arvinmeritor Inc)