Revolving Commitments. (i) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date. (ii) During the Revolving Commitment Period, subject to the terms and conditions hereof, each Lender severally agrees to make Revolving Loans, which will be made in Dollars or Canadian Dollars, to Borrowers in an aggregate amount up to but not exceeding such Lender’s Revolving Commitment; provided that after giving effect to the making of any Revolving Loans in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Pattern Energy Group Inc.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to the aggregate outstanding amount of the Swingline Loans, and the aggregate undrawn amount of all outstanding Letters of Credit and the aggregate amount of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, which will be made in Dollars or Canadian Dollarsincurred on behalf of the Borrower and owing to such Lender, to Borrowers in an aggregate does not exceed the amount up to but not exceeding of such Lender’s Revolving Commitment; provided that after giving effect to the making Total Revolving Extensions of any Credit shall in no event exceed the Total Revolving Commitment. During the Revolving Commitment Period, the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.8.
(b) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate outstanding amount of any Revolving Loans, which will be made in Dollars or Canadian Dollarsthe aggregate undrawn amount of all outstanding Letters of Credit, to Borrowers in an and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to but such Lender, does not exceeding exceed the amount of such Lender’s Revolving Commitment; provided that after giving . In addition, the amount of the Total Revolving Extensions of Credit outstanding at such time shall not exceed the Total Revolving Commitments in effect to at such time. During the making of any Revolving Commitment Period, the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13.
(b) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Sources: Credit Agreement (Fusion-Io, Inc.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate outstanding amount of any Revolving Loans, which will be made in Dollars or Canadian Dollarsany Swingline Loans, to Borrowers in an the aggregate undrawn amount of all outstanding Letters of Credit, and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to but such Lender, does not exceeding exceed the amount of such Lender’s Revolving Commitment; provided that after giving . In addition, the amount of the Total Revolving Extensions of Credit outstanding at such time shall not exceed the lesser of (i) the Total Revolving Commitments in effect to at such time, and (ii) the making sum of any (x) the Non-Formula Amount and (y) the Borrowing Base, each as in effect at such time. During the Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof.
(b) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Sources: Credit Agreement (Radisys Corp)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans, which will be made in Dollars or Canadian Dollars, ”) to Borrowers the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up at any one time outstanding which, when added to but the aggregate outstanding amount of the Swingline Loans, the Dollar Equivalent of the aggregate undrawn amount of all outstanding Letters of Credit, and the Dollar Equivalent of the aggregate amount of all L/C Disbursements that have not exceeding yet been reimbursed or converted into Revolving Loans or Swingline Loans, incurred on behalf of the Borrower and owing to such Lender, does not exceed the amount of such ▇▇▇▇▇▇’s Revolving Commitment; provided that after giving . In addition, such aggregate obligations shall not at any time exceed the Total Revolving Commitments in effect to at such time. During the making of any Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be EurodollarSOFR Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13.
(b) The Borrower shall repay all outstanding Revolving Loans (including, without limitation, all Overadvances to the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire extent not previously repaid) on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Sources: Credit Agreement (Fastly, Inc.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrowers from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate outstanding amount of any Revolving Loans, which will be made in Dollars or Canadian Dollarsthe aggregate undrawn amount of all outstanding Letters of Credit, to Borrowers in an and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrowers and owing to but Lender, does not exceeding such Lender’s exceed the amount of the Revolving Commitment; provided that after giving . The Revolving Loans may be advances to a U.S. Borrower (“U.S. Revolving Loans”), or advances to a Non-U.S. Borrower (“Non-U.S. Revolving Loans”). In addition the Total U.S. Revolving Extensions of Credit shall not exceed the lesser of (i) the Revolving Commitment outstanding at such time and (ii) the U.S. Revolving Loan Sublimit in effect to at such time. During the making of any Revolving Commitment Period the Borrowers may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrowers and notified to Lender in accordance with Sections 2.5 and 2.11.
(b) The Borrowers shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate principal amount of any then outstanding Revolving Loans, which will be made in Dollars or Canadian Dollarsany Swingline Loans, to Borrowers in an the aggregate undrawn amount of all then outstanding Letters of Credit, and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to but such Lender, does not exceeding exceed the amount of such Lender’s Revolving Commitment; provided that . In addition, the amount of the Total Revolving Extensions of Credit outstanding after giving effect to the making any requested borrowing of any Revolving Loans in no event shall the Total Utilization of Revolving Commitments not exceed the Available Revolving Commitments then in effect. Each Lender’s During the Revolving Commitment Period, the Borrower may use the Available Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.11. Notwithstanding anything to the contrary contained herein, during the existence and continuation of an Event of Default, no Revolving Loan may be borrowed as, converted to or continued as a Eurodollar Loan.
(b) The Borrower shall expire repay all outstanding Revolving Loans on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to the aggregate outstanding amount of the Swingline Loans, the aggregate undrawn amount of all outstanding Letters of Credit, and the aggregate amount of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, which will be made in Dollars or Canadian Dollarsincurred on behalf of the Borrower and owing to such Lender, to Borrowers in an aggregate does not exceed the amount up to but not exceeding of such Lender’s Revolving Commitment; provided that after giving . In addition, such aggregate obligations shall not at any time exceed the Total Revolving Commitments in effect to at such time. During the making of any Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13.
(b) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans on the Revolving Commitment Termination Date Date.
(c) All accrued and all Revolving Loans unpaid interest, commitment fees and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments Letter of Credit Fees shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)repaid on the Closing Date.
Appears in 1 contract
Sources: Credit Agreement (Stitch Fix, Inc.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make Revolving Loans, which will be made in Dollars or Canadian Dollars, Loans to Borrowers the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up at any one time outstanding for each Revolving Lender which, when added to but the sum of (i) such Revolving Lender’s Revolving Percentage of any Swingline Loans (under the Revolving Facility) then outstanding and (ii) such Revolving Lender’s L/C Exposure (under the Revolving Facility), if any, at such time, does not exceeding exceed the amount of such Revolving Lender’s Revolving Commitment; provided provided, that the Total Revolving Extensions of Credit outstanding at such time, after giving effect to the making of any such Revolving Loans, shall not exceed the Total Revolving Commitments (under the Revolving Facility) in effect at such time. During the Revolving Commitment Period applicable to the Revolving Facility the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13. Notwithstanding anything to the contrary contained herein, during the existence of an Event of Default, no event Revolving Loan may be borrowed as, converted to or continued as a Eurodollar Loan.
(b) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans (including all Overadvances) on the applicable Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Sources: Senior Secured Revolving Credit Facility Credit Agreement (FTC Solar, Inc.)
Revolving Commitments. Each Revolving Lender severally agrees, on the terms and conditions set forth herein, to make loans in Dollars or in an Offshore Currency to a Borrower (ieach such loan, a "Revolving Loan") On from time to time on any Business Day during the period from the Closing Date to the Commitment Termination Date, in an aggregate Equivalent Amount not to exceed at any time outstanding such Revolving Lender's Revolver Pro Rata Share of the Total Revolving Commitment Amount less the Effective Amount of all outstanding Revolving Loans (after giving effect to the Revolving Loans (including for purposes hereof Swingline Loans) made on such Business Day) less the Effective Amount of all outstanding Letter of Credit Obligations (after giving effect to the Letters of Credit Issued on such Business Day). The commitment of each Revolving Lender outstanding under described in this Section 2.1
(a) is herein referred to as such Revolving Lender's "Revolving Commitment" and, with respect to any Revolving Lender, means the Existing Credit Facility principal amount set forth opposite such Revolving Lender's name on Schedule 2.1 hereto (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), or as set forth in any applicable Assignment and Acceptance Agreement) as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall such commitment may have been or may hereafter be continued (on a cashless basis)adjusted pursuant to the terms of this Agreement. Within the limits of each Revolving Lender's Revolving Commitment, and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject to the other terms and conditions hereof, each Lender severally agrees to make any Borrower may borrow Revolving LoansLoans under this Section 2.1, which will be made in Dollars or Canadian Dollars, to Borrowers prepay under Section 2.6 and reborrow Revolving Loans under this Section 2.
1. All Credit Extensions denominated in an aggregate amount up to but Offshore Currency shall not exceeding such Lender’s Revolving Commitment; provided that after giving effect to the making of at any Revolving Loans in no event shall the Total Utilization of Revolving Commitments time exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Offshore Currency Sublimit.
Appears in 1 contract
Sources: Credit Agreement (Trylon Corp/Mi/)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each US Revolving Lender severally agrees to make Revolving Loans, which will be made Loans in Dollars or Canadian Dollars, (the “US Revolving Loans”) to Borrowers each Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up to but not exceeding at any one time outstanding such Lender’s Revolving Commitment; provided that that, after giving effect to such borrowing, such US Revolving Lender’s US Revolving Extensions of Credit do not exceed the making amount of any such US Revolving Lender’s US Revolving Commitment. During the Revolving Commitment Period, each Borrower may use the US Revolving Commitments by borrowing, prepaying the US Revolving Loans in no event shall whole or in part, and reborrowing, all in accordance with the Total Utilization of terms and conditions hereof.
(b) Subject to the terms and conditions hereof, each Euro Revolving Commitments exceed Lender severally agrees to make Revolving Loans in Euros (the “Euro Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire on Loans”) to HCLP from time to time during the Revolving Commitment Termination Date and all Period in an aggregate principal amount at any one time outstanding such that, after giving effect to such borrowing, such Euro Revolving Lender’s Euro Revolving Extensions of Credit do not exceed the amount of such Euro Revolving Lender’s Euro Revolving Commitment. During the Revolving Commitment Period, HCLP may use the Euro Revolving Commitments by borrowing, prepaying the Euro Revolving Loans in whole or in part, and reborrowing, all other amounts owed hereunder in accordance with respect the terms and conditions hereof.
(c) The US Revolving Loans may from time to time be (i) Eurodollar Loans, (ii) ABR Loans or (iii) a combination thereof, as determined by the relevant Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 3.5. The Euro Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Eurocurrency Loans.
Appears in 1 contract
Revolving Commitments. (i) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i2.1(a) (i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject to the terms and conditions hereof, each Lender severally agrees to make Revolving Loans, which will be made in Dollars or Canadian Dollars, to Borrowers in an aggregate amount up to but not exceeding such Lender’s Revolving Commitment; provided that after giving effect to the making of any Revolving Loans in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. -43- CREDIT AGREEMENT (PATTERN REVOLVER)
Appears in 1 contract
Sources: Credit and Guaranty Agreement
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans ("Revolving Loans, which will be made in Dollars or Canadian Dollars, ") to Borrowers the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up to but at any one time outstanding which does not exceeding exceed the amount of such Lender’s 's Revolving Commitment; provided that after giving effect to Commitment at such time. During the making of any Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.7.
(b) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans on the Revolving Commitment Termination Date.
(c) The Revolving Commitment Termination Date may be extended, with the unanimous written consent of the Lenders, in the manner set forth in this Section 2.1(c), on such Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect each extension thereof pursuant to this paragraph (c) thereafter (each, an "Extension Date"), in each case for a period of two years after the Revolving Loans Commitment Termination Date theretofore in effect and from each subsequently extended date. If the Borrower wishes to request an extension of the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Commitment
Appears in 1 contract
Revolving Commitments. (i) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject to the terms and conditions hereof, each Lender severally agrees to make Revolving Loans, which will be made in Dollars or Canadian Dollars, to Borrowers in an aggregate amount up to but not exceeding such Lender’s Revolving Commitment; provided that after giving effect to the making of any Revolving Loans in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER).
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Pattern Energy Group Inc.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans (“Revolving Loans, which will be made in Dollars or Canadian Dollars, ”) to Borrowers Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up at any one time outstanding which, when added to but such Lender’s Revolving Percentage of the L/C Obligations and Swing Line Loans then outstanding, does not exceeding exceed the amount of such Lender’s Revolving Commitment; provided that after giving effect to . During the making of any Revolving Commitment Period, Borrower may use the Revolving Commitments by borrowing, repaying or prepaying the Revolving Loans in no event shall whole or in part, and reborrowing, all in accordance with the Total Utilization of Revolving Commitments exceed terms and conditions hereof.
(b) Borrower may elect to extend the Revolving Commitments then in effect. Each Lender’s Termination Date from June 18, 2008, to October 3, 2008, subject to the satisfaction of the following conditions:
(i) Borrower shall have provided Administrative Agent with a written notice of its election to extend the Revolving Commitment Termination Date no later than June 1, 2008;
(ii) No Default or Event of Default shall expire have occurred and be continuing on the date Borrower makes its written election to extend the Revolving Commitment Termination Date or on June 18, 2008;
(iii) Each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents shall be true and correct in all material respects on the date Borrower makes its written election to extend the Revolving Termination Date and all Revolving Loans on June 18, 2008 (other than those representations and all other amounts owed hereunder with respect warranties that relate to the Revolving Loans a specific prior date, in which case such representations and the Revolving Commitments warranties shall be true and correct in all material respects as of such specific prior date); and
(iv) Borrower shall have paid to Administrative Agent an advisory fee in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)accordance with the Fee Letter.
Appears in 1 contract
Sources: Credit Agreement (Getty Images Inc)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, (1) each Dollar Revolving Lender severally agrees to make revolving credit loans in Dollars (“Dollar Revolving Loans, which will be made in Dollars or Canadian Dollars, ”) to Borrowers the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up to but at any one time outstanding which does not exceeding exceed the amount of such Lender’s Dollar Revolving Commitment and (2) each Alternative Currency Revolving Lender severally agrees to make revolving credit loans in one or more Alternative Currencies (“Alternative Currency Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Lender’s Alternative Currency Revolving Percentage of the sum of (i) the LC Obligations then outstanding and (ii) the aggregate principal amount of the Swingline Loans then outstanding, does not exceed the amount of such Lender’s Alternative Currency Revolving Commitment; provided that after giving effect to . During the making of any Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event shall whole or in part, and reborrowing, all in accordance with the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effectterms and conditions hereof. Each Lender’s Revolving Commitment shall expire on the Revolving Commitment Termination Date and all The Dollar Revolving Loans and all other amounts owed hereunder with respect Alternative Currency Revolving Loans denominated in Dollars may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.12. The Alternative Currency Revolving Loans and the Revolving Commitments denominated in an Alternative Currency other than Dollars shall be paid in full no later than such date. CREDIT AGREEMENT Eurodollar Loans.
(PATTERN REVOLVER)b) The Borrower shall repay all outstanding Revolving Loans on the applicable Maturity Date.
Appears in 1 contract
Sources: Credit Agreement (Davita Inc)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate principal amount of any then outstanding Revolving Loans, which will be made in Dollars or Canadian Dollarsany Swingline Loans, to Borrowers in an the aggregate undrawn amount of all then outstanding Letters of Credit, and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to but such Lender, does not exceeding exceed the amount of such Lender’s Revolving Commitment; provided that . In addition, the amount of the Total Revolving Extensions of Credit outstanding after giving effect to the making any requested borrowing of any Revolving Loans in no event shall the Total Utilization of Revolving Commitments not exceed the Available Revolving Commitments then in effect. Each Lender’s During the Revolving Commitment Period, the Borrower may use the Available Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13. Notwithstanding anything to the contrary contained herein, during the existence of an Event of Default, no Revolving Loan may be borrowed as, converted to or continued as a Eurodollar Loan.
(b) Notwithstanding anything to the contrary set forth in the Existing Credit Agreement or in any other Loan Document, all “Revolving Loans” (as defined in the Existing Credit Agreement) having been made by any Lender pursuant to the Existing Credit Agreement and outstanding thereunder immediately prior to the occurrence of the Amendment and Restatement Date (after giving effect to any payment of the principal amount of such Revolving Loans on the Amendment and Restatement Date) (an “Existing Revolving Loan”) (a) shall expire be deemed for all purposes under this Agreement and the other Loan Documents to be Revolving Loans having been made by the Revolving Lenders hereunder (in accordance with the final and allocated Revolving Commitments of the Lenders specified in Schedule 1.1A), (b) shall be deemed to constitute a portion of the Revolving Commitments of the Revolving Lenders specified in such Schedule 1.1A (in accordance with the final and allocated Revolving Commitments of the Lenders specified in Schedule 1.1A), and (c) shall be subject in all respects to the terms and provisions of this Agreement and the other Loan Documents.
(c) The Borrower shall repay all outstanding Revolving Loans on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Revolving Commitments. (i) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereofof this Agreement, each Lender who has agreed to provide a Revolving Commitment severally agrees to make advances to the Borrower from time to time from and including the Closing Date to but excluding the Revolving Loans, which will be made in Dollars or Canadian Dollars, to Borrowers Termination Date in an aggregate principal amount at any time outstanding up to but not exceeding the amount of such Lender’s 's Revolving Commitment as then in effect; PROVIDED, HOWEVER, (a) the Outstanding Revolving Credit applicable to a Lender shall not at any time exceed such Lender's Revolving Commitment; provided that , (b) the Outstanding Revolving Credit of all of the Lenders shall not at any time exceed the lesser of (i) the Revolving Loans Borrowing Base or (ii) the aggregate Revolving Commitments, and (c) no advance shall be made at any time other than concurrently with or within 3 calendar days after giving effect the closing of a securitization of the Borrower's Receivables through the issuance of debt Securities amortizing over time and not constituting a "warehouse" or revolving credit facility. Subject to the making foregoing limitations, and the other terms and provisions of any Revolving Loans in no event shall this Agreement, the Total Utilization Borrower may borrow, prepay, and reborrow hereunder the amount of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire on and may establish Base Rate Accounts and Libor Accounts thereunder and, until the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to Date, the Borrower may Continue Libor Accounts established under the Revolving Loans and or Convert Accounts established under the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Loans of one Type into Accounts of the other Type.
Appears in 1 contract
Sources: Credit Agreement (First Investors Financial Services Group Inc)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans in Dollars or in one or more Alternative Currencies (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate principal amount of any then outstanding Revolving Loans, which will be made in Dollars or Canadian Dollarsany Swingline Loans, to Borrowers in an the aggregate undrawn amount of all then outstanding Letters of Credit, and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to but not exceeding such Lender, does not exceed (i) the amount of such L▇▇▇▇▇’s Revolving Commitment; provided that Commitment and (ii) to the extent any of the foregoing are denominated in Alternative Currencies, the Alternative Currency Sublimit. In addition, the amount of the Total Revolving Extensions of Credit outstanding after giving effect to the making any requested borrowing of any Revolving Loans in no event shall the Total Utilization of Revolving Commitments not exceed the Available Revolving Commitments then in effect. Each Lender’s During the Revolving Commitment Period, the Borrower may use the Available Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be SOFR Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.8, provided that all Revolving Loans denominated in an Alternative Currency shall expire be SOFR Loans. Notwithstanding anything to the contrary contained herein, during the existence and continuation of an Event of Default, no Revolving Loan may be borrowed as, converted to or continued as a SOFR Loan.
(b) The Borrower shall repay all outstanding Revolving Loans on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Sources: Revolving Credit Agreement (Digi International Inc)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrowers from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate outstanding amount of any Revolving Loans, which will be made in Dollars or Canadian Dollarsthe aggregate undrawn amount of all outstanding Letters of Credit, to Borrowers in an and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrowers and owing to but Lender, does not exceeding such Lender’s exceed the amount of the Revolving Commitment; provided that after giving . The Revolving Loans may be advances to a U.S. Borrower (“U.S. Revolving Loans”), or advances to a Non-U.S. Borrower (“Non-U.S. Revolving Loans”). In addition the Total U.S. Revolving Extensions of Credit shall not exceed the lesser of (i) the Revolving Commitment outstanding at such time and (ii) the U.S. Revolving Loan Sublimit in effect to at such time. During the making of any Revolving Commitment Period the Borrowers may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event shall whole or in part, and reborrowing, all in accordance with the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effectterms and conditions hereof. Each Lender’s Revolving Commitment shall expire on the Revolving Commitment Termination Date and all The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrowers and all other amounts owed hereunder notified to Lender in accordance with respect to the Revolving Loans Sections 2.5 and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)2.11.
Appears in 1 contract
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans, which will be made ”) in US Dollars or Canadian Dollars, to Borrowers the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up at any one time outstanding which when added to but such ▇▇▇▇▇▇’s Revolving Percentage of the L/C Obligations then outstanding and such ▇▇▇▇▇▇’s Revolving Percentage of the Swing Line Loans then outstanding does not exceeding exceed the amount of such Lender▇▇▇▇▇▇’s Revolving Commitment. On each date that a Revolving Loan is made, the Borrower shall first repay all of its Swing Line Loans then outstanding with the proceeds of any such Borrowing. During the Revolving Commitment Period, the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. Subject to Section 2.17, each Revolving Borrowing shall be comprised entirely of ABR Loans or Term Benchmark Loans (or RFR Loans in accordance with Section 2.17) as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13. Each Swing Line Loan shall be an ABR Loan. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that after giving effect any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the making terms of any this Agreement.
(b) The Borrower shall repay all outstanding Revolving Loans in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire made to it on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Sources: Credit Agreement (Hanesbrands Inc.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to the aggregate undrawn amount of all outstanding Letters of Credit and the aggregate amount of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, which will be made in Dollars or Canadian Dollarsincurred on behalf of the Borrower and owing to such Lender, to Borrowers in an aggregate does not exceed the amount up to but not exceeding of such Lender’s Revolving Commitment; provided that after giving effect to . In addition, such aggregate obligations shall not at any time exceed the making lesser of (i) the Total Revolving Commitments at such time and (ii) the Borrowing Base at such time. No Revolving Extension of Credit shall be outstanding on the Closing Date. No portion of the Revolving Loans shall be funded with “plan assets” of any “benefit plan investor” within the meaning of Section 3(42) of ERISA. During the Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13.
(b) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Revolving Commitments. (i) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans, which will be made in Dollars or Canadian Dollars, ”) to Borrowers the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up at any one time outstanding which, when added to but the aggregate outstanding amount of the Swingline Loans, the aggregate undrawn Dollar Equivalent amount of all outstanding Letters of Credit, and the aggregate Dollar Equivalent amount of all L/C Disbursements that have not exceeding yet been reimbursed or converted into Revolving Loans or Swingline Loans, incurred on behalf of the Borrower and owing to such Lender, does not exceed the amount of such L▇▇▇▇▇’s Revolving Commitment. In addition, such aggregate obligations shall not at any time exceed the Total Revolving Commitments in effect at such time. During the Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be SOFR Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.8. Borrowings of more than one Type may be outstanding at the same time; provided that, there shall not be more than a total of seven (7) SOFR Borrowings outstanding at any time. Each Lender at its option may make any Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that after giving effect any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the making terms of any Revolving Loans in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)this Agreement
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (Pagaya Technologies Ltd.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans in Dollars (each, a “Revolving Loan” and, collectively, the “Revolving Loans, which will be made in Dollars or Canadian Dollars, ”) to Borrowers the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up at any one time outstanding which, when added to but the aggregate outstanding amount of the Swingline Loans, the Dollar Equivalent of the aggregate undrawn amount of all outstanding Letters of Credit, and the Dollar Equivalent of the aggregate amount of all L/C Disbursements that have not exceeding yet been reimbursed or converted into Revolving Loans or Swingline Loans, incurred on behalf of the Borrower and owing to such Lender, does not exceed the amount of such Lender’s Revolving Commitment; provided that after giving . In addition, such aggregate obligations shall not at any time exceed the Total Revolving Commitments in effect to at such time. During the making of any Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be SOFR Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13.
(b) The Borrower shall repay all outstanding Revolving Loans (including all Overadvances to the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire extent not previously repaid) on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Sources: Credit Agreement (AdTheorent Holding Company, Inc.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, (i) each US$ Revolving Lender severally agrees to make revolving credit loans in Dollars (“US$ Revolving Loans, which will be made in Dollars or Canadian Dollars, ”) to Borrowers the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up at any one time outstanding which, when added to but not exceeding such Lender’s US$ Revolving Percentage of the sum of (x) the L/C Obligations then outstanding and (y) the aggregate principal amount of the Swingline Loans then outstanding, does not exceed the amount of such Lender’s US$ Revolving Commitment and (ii) each Multicurrency Revolving Lender severally agrees to make revolving credit loans in Dollars and each Alternative Currency (“Multicurrency Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which does not exceed such Lender’s Multicurrency Revolving Commitment; provided that after giving effect to . During the making of any Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event shall whole or in part, and reborrowing, all in accordance with the Total Utilization terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or, in the case of Revolving Commitments exceed Loans denominated in Dollars, ABR Loans, as determined by the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire on the Revolving Commitment Termination Date Borrower and all Revolving Loans and all other amounts owed hereunder with respect notified to the Revolving Loans Administrative Agent in accordance with Sections 2.5 and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)2.
Appears in 1 contract
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (“Revolving Loans, which will be made in Dollars ”) to the Borrower or Canadian Dollars, any Subsidiary Borrower from time to Borrowers time during the Revolving Commitment Period in an aggregate Dollar Equivalent principal amount up at any one time outstanding which, when added to but such Lender’s Revolving Percentage of the sum of (i) the L/C Obligations then outstanding and (ii) the aggregate principal amount of the Swingline Loans then outstanding, does not exceeding exceed the amount of such Lender’s Revolving Commitment; provided that after giving effect to any such Revolving Loans, (x) the making Total Revolving Extensions of any Credit shall not exceed the Total Revolving Commitments and (y) the Total Revolving Extensions of Credit denominated in Alternative Currencies shall not exceed the Alternative Currency Sublimit. During the Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event shall whole or in part, and reborrowing, all in accordance with the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effectterms and conditions hereof. Each Lender’s Revolving Commitment shall expire on the Revolving Commitment Termination Date and all The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and all other amounts owed hereunder with respect notified to the Revolving Loans Administrative Agent in accordance with Sections 2.5 and 2.12.
(b) Unless previously terminated, the Revolving Commitments shall be paid in full no later than such dateterminate on the Revolving Termination Date. CREDIT AGREEMENT (PATTERN REVOLVER)The Borrower shall repay all outstanding Revolving Loans on the Revolving Termination Date.
Appears in 1 contract
Sources: Revolving Credit and Term Loan Agreement (MPT Operating Partnership, L.P.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each US Dollar Revolving Lender severally agrees to make revolving credit loans to the Parent Borrower and to the Subsidiary Borrower in US Dollars ("US Dollar Revolving Loans, which will be made in Dollars or Canadian Dollars, ") from time to Borrowers time during the Revolving Commitment Period in an aggregate principal amount up at any one time outstanding which, when added to but such US Dollar Lender's Revolving Percentage of the sum of the L/C Obligations then outstanding, does not exceeding exceed the amount of such Lender’s 's US Dollar Revolving Commitment; provided that Commitment (the "Revolving Loans"). Notwithstanding the above, in no event shall any Revolving Loan be made or Letter of Credit be issued, if, after giving effect to such making or issuance and the making use of any proceeds thereof as directed by the Parent Borrower or the Subsidiary Borrower, as the case may be, the Total Revolving Extensions of Credit would exceed the lesser of (i) the Total Revolving Commitments or (ii) the Borrowing Base as of the date of the most recent Borrowing Base Certificate furnished to the Administrative Agent pursuant to Section 5.1(m) or Section 6.2(f) hereof. During the Revolving Commitment Period, the Borrowers may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or Alternate Base Rate Loans, as determined by the Parent Borrower or the Subsidiary Borrower, as the case may be, and notified to the Administrative Agent in accordance with Sections 2.5 and 2.10.
(b) The Borrowers shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans on the Revolving Commitment Termination Date. To the extent the Revolving Termination Date and all extends beyond the maturity date of any subordinated debt of the Parent Borrower existing on the date hereof, such Revolving Loans and all other amounts owed hereunder with respect Termination Date shall be adjusted to be 90 days prior to the Revolving Loans and maturity date of such subordinated debt.
(c) Up to an aggregate principal amount of $40,000,000 of the Revolving Commitments shall Facility will be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)available for borrowings by the Subsidiary Borrower.
Appears in 1 contract
Revolving Commitments. (i) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Lender holding a Initial Revolving Commitment severally agrees to make revolving credit loans (together, the “Initial Revolving Loans, which will be made ”) to the Borrowers (on a joint and several basis as between the Borrowers) from time to time in Dollars or Canadian Dollarsor, to Borrowers at the request of the Parent Borrower, in any Designated Foreign Currency during the Initial Revolving Commitment Period in an aggregate principal amount up at any one time outstanding the Dollar Equivalent of which, when added to but not exceeding such Lender’s Revolving Commitment; provided that Commitment Percentage of the sum of the Dollar Equivalent of the then outstanding Revolving L/C Obligations and the then outstanding Swing Line Loans, does not exceed the amount of such ▇▇▇▇▇▇’s Revolving Commitment then in effect (after giving effect to the making use of the proceeds thereof on the date of the incurrence thereof to repay any amounts theretofore outstanding pursuant to this Agreement) (it being understood and agreed that the Administrative Agent shall calculate the Dollar Equivalent of the then outstanding Revolving Loans in any Designated Foreign Currency and, to the extent applicable, the then outstanding Revolving L/C Obligations in respect of any Revolving Loans Letters of Credit denominated in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire any Designated Foreign Currency on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder date on which the Parent Borrower has given the Administrative Agent a notice of borrowing with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)respect
Appears in 1 contract
Sources: Credit Agreement (Hertz Corp)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate outstanding amount of any Revolving Loans, which will be made in Dollars or Canadian Dollarsthe aggregate undrawn amount of all outstanding Letters of Credit, to Borrowers in an and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to but such Lender, does not exceeding exceed the amount of such Revolving Lender’s Revolving Commitment; provided that after giving . In addition, the amount of the Total Revolving Extensions of Credit outstanding at such time shall not exceed the Total Revolving Commitments in effect to at such time. During the making of any Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13. Notwithstanding anything to the contrary contained herein, except as otherwise agreed to by the Administrative Agent in its discretion, during the continuance of a Default or an Event of Default, no event Revolving Loan may be borrowed as, converted to or continued as a Eurodollar Loan.
(b) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans on the Revolving Commitment Termination Date and all (other than any Extended Revolving Loans and all other amounts owed hereunder with respect to the Credit Commitments). The Extended Revolving Loans and the Revolving Credit Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)terminate on the respective maturity dates applicable thereto.
Appears in 1 contract
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate principal amount of any then outstanding Revolving Loans, which will be made in Dollars or Canadian Dollarsany Swingline Loans, to Borrowers in an the aggregate undrawn amount of all then outstanding Letters of Credit, and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to but not exceeding such Lender, does not exceed the amount of such ▇▇▇▇▇▇’s Revolving Commitment; provided that . In addition, the amount of the Total Revolving Extensions of Credit outstanding after giving effect to the making any requested borrowing of any Revolving Loans in no event shall the Total Utilization of Revolving Commitments not exceed the Available Revolving Commitments then in effect. Each Lender’s During the Revolving Commitment Period, the Borrower may use the Available Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be SOFR Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.11. Notwithstanding anything to the contrary contained herein, during the existence and continuation of an Event of Default, no Revolving Loan may be borrowed as, converted to or continued as a SOFR Loan.
(b) The Borrower shall expire repay all outstanding Revolving Loans on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to the aggregate outstanding amount of the Swingline Loans, the aggregate undrawn Dollar Equivalent amount of all outstanding Letters of Credit, and the aggregate Dollar Equivalent amount of all L/C Disbursements that have not yet been reimbursed by Borrower or converted into Revolving Loans, which will be made in Dollars or Canadian Dollarsincurred on behalf of the Borrower and owing to such Lender, to Borrowers in an aggregate does not exceed the amount up to but not exceeding of such Lender’s Revolving Commitment; provided that . In addition, the Total Revolving Extensions of Credit outstanding at such time, after giving effect to the making of such Revolving Loans, shall not at any time exceed (I) during any Non-Formula Period, the Total Revolving Commitments and (II) during any Borrowing Base Period, the lesser of (i) the Total Revolving Commitments in effect at such time and (ii) the Borrowing Base in effect at such time. During the Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.9.
(b) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans (including all Overadvances and Protective Overadvances) on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
Appears in 1 contract
Sources: Credit Agreement (UiPath, Inc.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate principal amount of any then outstanding Revolving Loans, which will be made in Dollars or Canadian Dollarsany Swingline Loans, to Borrowers in an the aggregate undrawn amount of all then outstanding Letters of Credit, and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to but such Lender, does not exceeding exceed the amount of such Lender’s Revolving Commitment; provided that . In addition, the amount of the Total Revolving Extensions of Credit outstanding after giving effect to the making any requested borrowing of any Revolving Loans in no event shall not exceed the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s During the Revolving Commitment Period the Borrower may use the Available Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.10.
(b) The Borrower shall expire repay all outstanding Revolving Loans on the Revolving Commitment Termination Date.
(c) Any “Loans” (as defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement as of the Closing Date shall be deemed Loans outstanding hereunder. The Borrower ratifies, affirms and acknowledges all Revolving Loans and all other amounts owed hereunder with of its Obligations in respect to of the Revolving Loans Existing Credit Facility, and the Revolving Commitments Lenders under this Agreement shall be paid deemed to have participation interests therein as of the Closing Date in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)accordance with their Revolving Percentages as reflected in Schedule 1.1A.
Appears in 1 contract
Sources: Credit Agreement (ShoreTel Inc)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans in Dollars (“Revolving Loans, which will be made in Dollars or Canadian Dollars, ”) to Borrowers the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up at any one time outstanding which, when added to but such Lender’s L/C Exposure then outstanding, does not exceeding AMERICAS 91292599 exceed the amount of such Lender’s Revolving Commitment; provided . During the Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.6.
(b) At any time, the Borrower and any one or more Lenders (including New Lenders) may agree that such Lender(s) shall make, obtain or increase the amount of their Revolving Commitments by executing and delivering to the Administrative Agent an Increased Revolving Commitment Activation Notice specifying the amount of such increase and the applicable Increased Revolving Commitment Closing Date. Notwithstanding the foregoing, (i) the aggregate amount of incremental Revolving Commitments obtained pursuant to this Section 2.1(b) shall not exceed $100,000,000, (ii) incremental Revolving Commitments may not be made, obtained or increased during the continuation of a Default or Event of Default, including after giving pro forma effect to the incremental Revolving Commitments in question and (iii) the increase effected pursuant to this paragraph shall be in a minimum amount of at least $25,000,000 (or, if less, the remaining unutilized portion of such $100,000,000). No Lender shall have any obligation to participate in any increase described in this paragraph unless it agrees to do so in its sole discretion.
(c) Any additional bank, financial institution or other entity which, with the consent of the Borrower and the Administrative Agent (which consent shall not be unreasonably withheld or delayed), elects to become a “Lender” under this Agreement in connection with an increase described in Section 2.1(b) shall execute a New Lender Supplement (each, a “New Lender Supplement”), substantially in the form of Exhibit D-1, whereupon such bank, financial institution or other entity (a “New Lender”) shall become a Lender for all purposes and to the same extent as if originally a party hereto and shall be bound by and entitled to the benefits of this Agreement.
(d) On each Increased Revolving Commitment Closing Date on which there are Revolving Loans outstanding, the New Lender(s) and/or Lender(s) that have increased their Revolving Commitments shall make Revolving Loans, the proceeds of which will be used to prepay such portions of the Revolving Loans of other Lenders, so that, after giving effect thereto, the resulting Revolving Loans outstanding are allocated among the Lenders in accordance with Section 2.11(a) based on the respective Revolving Percentages of the Lenders after giving effect to such Increased Revolving Commitment Closing Date.
(e) The Borrower shall repay the making of any outstanding Revolving Loans in no event shall the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire each Lender on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect applicable to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Lender.
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Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate outstanding amount of any Revolving Loans, which will be made in Dollars or Canadian Dollarsany Swingline Loans, to Borrowers in an the aggregate undrawn amount of all outstanding Letters of Credit, and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to but such Lender, does not exceeding exceed the amount of such Lender’s Revolving Commitment; provided that after giving . In addition, the amount of the Total Revolving Extensions of Credit outstanding at such time shall not exceed the Total Revolving Commitments in effect to at such time. During the making of any Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13. Notwithstanding anything to the contrary contained herein, during the existence of a Default or an Event of Default, no event Revolving Loan may be borrowed as, converted to or continued as a Eurodollar Loan.
(a) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
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Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the Dollar Equivalent of each of the aggregate outstanding amount of any Revolving Loans, which will be made in Dollars or Canadian Dollarsany Swingline Loans, to Borrowers in an the aggregate undrawn amount of all outstanding Letters of Credit, and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to but such Lender, does not exceeding exceed the amount of such Lender’s Revolving Commitment; provided that after giving . In addition, (i) the amount of the Total Revolving Extensions of Credit outstanding at such time shall not exceed the Total Revolving Commitments in effect at such time and (ii) the Dollar Equivalent of all Revolving Loans funded in Foreign Currencies and the aggregate L/C Exposure with respect to Foreign Currency Letters of Credit shall not exceed the making of any Foreign Currency Sublimit. During the Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurocurrency Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13. Notwithstanding anything to the contrary contained herein, during the existence of an Event of Default, no event Revolving Loan may be borrowed as, converted to or continued as a Eurocurrency Loan.
(b) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans (including all Overadvances) on the Revolving Commitment Termination Date and all Date.
(c) All Revolving Loans and all shall be made only in Dollars or other amounts owed hereunder with respect to the Agreed Currencies.
(d) All Revolving Loans and the Revolving Commitments in Agreed Currencies other than Dollars shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Eurocurrency Loans.
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Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans, which will be made in Dollars or Canadian Dollars, ”) to Borrowers the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount up at any one time outstanding which, when added to but the aggregate outstanding amount of the Swingline Loans, the Dollar Equivalent of the aggregate undrawn amount of all outstanding Letters of Credit, and the Dollar Equivalent of the aggregate amount of all L/C Disbursements that have not exceeding yet been reimbursed or converted into Revolving Loans or Swingline Loans, incurred on behalf of the Borrower and owing to such Lender, does not exceed the amount of such ▇▇▇▇▇▇’s Revolving Commitment; provided that after giving . In addition, such aggregate obligations shall not at any time exceed the Total Revolving Commitments in effect to at such time. During the making of any Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be SOFR Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13.
(b) The Borrower shall repay all outstanding Revolving Loans (including, without limitation, all Overadvances to the Total Utilization of Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire extent not previously repaid) on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
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Sources: Credit Agreement (Fastly, Inc.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount at any one time outstanding which, when added to the aggregate outstanding amount of the Swingline Loans, the aggregate undrawn amount of all outstanding Letters of Credit, and the aggregate amount of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, which will be made in Dollars or Canadian Dollars, incurred on behalf of the Borrower and owing to Borrowers in an aggregate amount up to but not exceeding such Lender, does not exceed the amount of such ▇▇▇▇▇▇’s Revolving Commitment; provided that after giving . In addition, such aggregate obligations shall not at any time exceed the Total Revolving Commitments in effect to at such time. During the making of any Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the NY-2410154 Revolving Loans in no event whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be SOFR Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13.
(b) The Borrower shall the Total Utilization of repay all outstanding Revolving Commitments exceed the Revolving Commitments then in effect. Each Lender’s Revolving Commitment shall expire Loans on the Revolving Commitment Termination Date Date.
(c) All accrued and all Revolving Loans unpaid interest, commitment fees and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments Letter of Credit Fees shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)repaid on the Closing Date.
Appears in 1 contract
Sources: Credit Agreement (Stitch Fix, Inc.)
Revolving Commitments. (ia) On the Closing Date, the Revolving Loans of each Lender outstanding under the Existing Credit Facility (each as defined therein) on the Closing Date (immediately prior to the occurrence thereof), as set forth as “Existing Closing Date Loans” in Schedule 2.1(a)(i), shall be continued (on a cashless basis), and shall constitute and remain outstanding as Revolving Loans hereunder. The continuations of such Revolving Loans shall not be subject to any breakage or similar costs that might otherwise be payable pursuant to Section 2.16(c) or the equivalent provision of the Existing Credit Agreement. In furtherance of the foregoing, on the Closing Date, the initial Lenders hereunder shall make and receive payments among themselves, in a manner acceptable to and approved by the Administrative Agent, so that, after giving effect thereto, the Revolving Loans are, on (and immediately after the occurrence of) the Closing Date, held ratably by the Revolving Lenders in accordance with the respective Revolving Commitments of the Revolving Lenders on the Closing Date.
(ii) During the Revolving Commitment Period, subject Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving Loans at any one time outstanding which, when added to the aggregate principal amount of any then outstanding Revolving Loans, which will be made in Dollars or Canadian Dollarsany Swingline Loans, to Borrowers in an the aggregate undrawn amount of all then outstanding Letters of Credit, and the aggregate amount up of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to but such Lender, does not exceeding exceed the amount of such Lender’s Revolving Commitment; provided that . In addition, the amount of the Total Revolving Extensions of Credit outstanding after giving effect to the making any requested borrowing of any Revolving Loans in no event shall the Total Utilization of Revolving Commitments not exceed the Available Revolving Commitments then in effect. Each Lender’s During the Revolving Commitment Period, the Borrower may use the Available Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.5 and 2.13. Notwithstanding anything to the contrary contained herein, during the existence of an Event of Default, no Revolving Loan may be borrowed as, converted to or continued as a Eurodollar Loan.
(b) The Borrower shall expire repay all outstanding Revolving Loans on the Revolving Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Revolving Commitments shall be paid in full no later than such date. CREDIT AGREEMENT (PATTERN REVOLVER)Date.
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