Common use of Working Capital Commitments Clause in Contracts

Working Capital Commitments. Upon the terms and subject to the conditions of this Agreement, until the Working Capital Termination Date, each Working Capital Lender agrees, severally but not jointly, to lend (and upon repayment, relend) to the Borrower, at such times and in such amounts as the Borrower shall request, up to an aggregate principal amount at any time outstanding equal to such Working Capital Lender's Working Capital Commitment Amount, subject to the following limitations: (i) the aggregate principal amount of Working Capital Advances and Working Capital Swing Line Advances at any time outstanding shall not exceed the sum of the Working Capital Commitment Amounts of all the Working Capital Lenders; (ii) the aggregate principal amount of Working Capital Advances and Working Capital Swing Line Advances at any time outstanding shall not exceed the Working Capital Borrowing Base as determined by the Administrative Agent from its records.) (iii) the principal amount of P&I Advances applied to fund any P&I Payment shall not exceed 95% of the P&I Payment Receivable resulting from such P&I Payment, and the aggregate principal amount of ▇&▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ng shall not exceed $15,000,000; (iv) the principal amount of T&I Advances applied to fund any T&I Payment shall not exceed 90% of the T&I Payment Receivable resulting from such T&I Payment, the principal amount of Foreclosure Advances applied to fund any Foreclosure Payment shall not exceed 90% of the Foreclosure Payment Receivable resulting from such Foreclosure Payment, and the total of the aggregate principal amount of T&I Advances plus the aggregate principal amount of Foreclosure Advances at any time outstanding shall not exceed $25,000,000; and (v) the principal amount of Investment Loan Advances applied to finance or refinance the origination or acquisition of any Investment Loan shall not exceed 80% of the Working Capital Collateral Value of such Investment Loan, and the aggregate principal amount of Investment Loan Advances at any time outstanding shall not exceed $5,000,000. The Working Capital Lenders shall not be obligated to make Working Capital Advances if, after giving effect thereto, any of the foregoing limitations would be exceeded. The failure of any one or more of the Working Capital Lenders to make a Working Capital Advance in accordance with its Working Capital Commitment shall not relieve the other Working Capital Lenders of their several obligations hereunder, but no Working Capital Lender shall be liable with respect to the obligation of any other Working Capital Lender hereunder or be obligated in any event to make Working Capital Advances in excess of its Working Capital Commitment Amount.

Working Capital Commitments. Upon (a) Subject to the terms and subject to the conditions of this Agreement, until the Working Capital Termination Datehereof, each Working Capital Lender agrees, severally but not jointly, agrees to lend make working capital loans (and upon repayment, relend"WORKING CAPITAL LOANS") to the Borrower, at such times and Borrower from time to time during the Working Capital Commitment Period in such amounts as the Borrower shall request, up to an aggregate principal amount at any one time outstanding equal which, when added to such Working Capital Lender's Working Capital Commitment Amount, subject to Percentage of the following limitations: sum of (i) the aggregate principal amount of Working Capital Advances L/C Obligations then outstanding and Working Capital Swing Line Advances at any time outstanding shall not exceed the sum of the Working Capital Commitment Amounts of all the Working Capital Lenders; (ii) the aggregate principal amount of Working Capital Advances and Working Capital Swing Line Advances at any time outstanding shall Acceptance Obligations, does not exceed the amount of such Lender's Working Capital Borrowing Base as determined by Commitment. Notwithstanding the Administrative Agent from its records.) (iii) the principal amount of P&I Advances applied to fund above, in no event shall any P&I Payment shall not exceed 95% of the P&I Payment Receivable resulting from such P&I Payment, and the aggregate principal amount of ▇&▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ng shall not exceed $15,000,000; (iv) the principal amount of T&I Advances applied to fund any T&I Payment shall not exceed 90% of the T&I Payment Receivable resulting from such T&I Payment, the principal amount of Foreclosure Advances applied to fund any Foreclosure Payment shall not exceed 90% of the Foreclosure Payment Receivable resulting from such Foreclosure Payment, and the total of the aggregate principal amount of T&I Advances plus the aggregate principal amount of Foreclosure Advances at any time outstanding shall not exceed $25,000,000; and (v) the principal amount of Investment Loan Advances applied to finance or refinance the origination or acquisition of any Investment Loan shall not exceed 80% of the Working Capital Collateral Value Loan be made, Letter of such Investment LoanCredit be issued or Acceptance be created, and the aggregate principal amount of Investment Loan Advances at any time outstanding shall not exceed $5,000,000. The Working Capital Lenders shall not be obligated to make Working Capital Advances if, after giving effect theretoto such making, any issuance or creation and the use of proceeds thereof as irrevocably directed by the Borrower, the Total Working Capital Extensions of Credit would exceed the greater of (A) $30,000,000 and (B) the sum of 80% of the foregoing limitations would be exceededaggregate amount of all Eligible Accounts and 50% of the aggregate amount of all Eligible Inventory as of the date of the most recent certificate furnished to the Administrative Agent pursuant to Section 5.1(k) or Section 6.2(g) (such greater amount, the "Borrowing Base"). The failure of any one or more of During the Working Capital Lenders to make a Commitment Period the Borrower may use the Working Capital Advance Commitments by borrowing, prepaying the Working Capital Loans in whole or in part, and reborrowing, all in accordance with its the terms and conditions hereof. The Working Capital Commitment 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 2.10. (b) The Borrower shall not relieve the other repay all outstanding Working Capital Lenders of their several obligations hereunder, but no Loans on the Scheduled Working Capital Lender shall be liable with respect to the obligation of any other Working Capital Lender hereunder or be obligated in any event to make Working Capital Advances in excess of its Working Capital Commitment AmountTermination Date.