Revolving Credit Loans. The Borrower shall repay to the Administrative Agent for the ratable account of the Appropriate on the applicable Maturity Date for the Revolving Credit Facilities of a given Class the aggregate principal amount of all of its Revolving Credit Loans of such Class outstanding on such date.
Revolving Credit Loans. The Borrowers shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Credit Loans outstanding on such date.
Revolving Credit Borrowings. Subject to the terms and conditions set forth herein, each Revolving Credit Lender severally agrees to make loans (each such loan, a “Revolving Credit Loan”) to the Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Revolving Credit Borrowing, # the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility, and # the Revolving Credit Exposure of any Revolving Credit Lender shall not exceed such Lender’s Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(a), prepay under Section 2.05, and reborrow under this Section 2.01(a). Revolving Credit Loans may be Base Rate Loans, Daily SOFR Loans or Term SOFR Loans, as further provided herein.
Revolving Credit Facility. Subject to the provisions of subsection # below: # each Daily SOFR Rate Loan under the Revolving Credit Facility shall bear interest on the outstanding principal amount thereof at a rate per annum equal to Daily Simple SOFR plus the Applicable Rate for SOFR Loans for the Revolving Credit Facility; # each Term SOFR Rate Loan under the Revolving Credit Facility for an Interest Period shall bear interest on the outstanding principal amount thereof at a rate per annum equal to Term SOFR for such Interest Period plus the Applicable Rate for the Revolving Credit Facility; and # each Base Rate Loan under the Revolving Credit Facility shall bear interest on the outstanding principal amount thereof at a rate per annum equal to the Base Rate for such Interest Period plus the Applicable Rate for Base Rate Loans for the Revolving Credit Facility.
Subject to the terms and conditions of this Agreement, and during the term of this Agreement:
“Revolving Credit Lender” means, at any time, any Lender that has a Revolving Credit Commitment at such time (and after the termination of all Revolving Credit Commitments, any Lender that holds any Outstanding Amount in respect of Revolving Credit Loans, Swingline Loans and/or L/C Obligations).
On the Incremental Facility Closing Date, pursuant to [Section 2.20(c)] of the Credit Agreement, each Revolving Credit Lender (other than Incremental Revolving Lenders, in their capacity as such) immediately prior to the increase in Revolving Credit Commitments provided by this Agreement will automatically and without further act be deemed to have assigned to each Incremental Revolving Lender providing an Incremental Revolving Commitment, and each such Incremental Revolving Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Credit Lenders participations under the Credit Agreement in outstanding Letters of Credit such that, after giving effect to the Incremental Revolving Commitments and each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding participations under the Credit Agreement in Letters of Credit held by each Revolving Credit Lender (including each Incremental Revolving Lender) will equal such Revolving Credit Lenders Applicable Percentage.
“Revolving Credit Note” means a “Revolving Credit Note” made by the Borrower in favor of a Revolving Credit Lender evidencing Revolving Credit Loans or Swing Line Loans, as the case may be, made by such Revolving Credit Lender, substantially in the form of Exhibit C-22] hereto.
“Applicable Percentage” means, with respect to any Revolving Credit Lender, the percentage (carried out to the ninth decimal place) of the Revolving Credit Facility represented by such Revolving Credit Lender’s Revolving Credit Commitment at such time. If the commitment of each Revolving Credit Lender to make Revolving Credit Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02, or if the Revolving Credit Commitments have expired, then the Applicable Percentage of each Revolving Credit Lender in respect of the Revolving Credit Facility shall be determined based on the Applicable Percentage of such Revolving Credit Lender in respect of the Revolving Credit Facility most recently in effect, giving effect to any subsequent assignments. The Applicable Percentage of each Lender is set forth opposite the name of such Lender on [Schedule 2.01] or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable which percentage amount may be adjusted from time to time in accordance with the terms and conditions hereof.
With respect to any Letter of Credit Fees not required to be paid to any Revolving Credit Lender that is a Defaulting Lender (as “Defaulting Revolving Credit Lender”) pursuant to [clause (B) above], the Borrowers shall # pay to each non-Defaulting Revolving Credit Lender that portion of any such fee otherwise payable to such Defaulting Revolving Credit Lender with respect to such Defaulting Revolving Credit Lender’s obligation to fund participations in respect of Letters of Credit that have been reallocated to such non-Defaulting Revolving Credit Lender pursuant to [Section 2.15(a)(v)] below, # pay to each L/C Issuer the amount of any such fee otherwise payable to such Defaulting Revolving Credit Lender to the extent allocable to such L/C Issuer’s Fronting Exposure to such Defaulting Revolving Credit Lender and # not be required to pay the remaining amount of any such fee.
“Required Revolving Credit [[Loan Parties:Organization]]” means, as of any date of determination, Revolving Credit [[Loan Parties:Organization]] having Total Revolving Credit Exposures representing more than 50% of the Total Revolving Credit Exposures of all Revolving Credit [[Loan Parties:Organization]]. The Total Revolving Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Revolving Credit [[Loan Parties:Organization]] at any time; provided that the amount of any participation in any Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been reallocated to and funded by another Revolving Credit Lender shall be deemed to be held by the Lender that is the relevant L/C Issuer in making such determination.
“The aggregate Revolving Credit Commitment of all the Revolving Credit Lenders on the First Amendment Effective Date shall be $300,000,000. The Revolving Credit Commitment of each Revolving Credit Lender as of the First Amendment Effective Date is set forth opposite the name of such Revolving Credit Lender on [Schedule 1.1(a)].”
Reallocation. Subject to the terms and conditions set forth herein, each Revolving Credit Lender hereby agrees to reallocate its Revolving Credit Commitment under the Credit Agreement on the date hereof to equal the amounts set forth opposite such Revolving Credit Lender’s name on [Schedule 2].01A attached hereto. Upon the effectiveness of this Amendment, the Borrowers, the Administrative Agent and the Revolving Credit Lenders shall make such reallocations, sales, assignments and other relevant actions in respect of each Revolving Credit Lender’s Revolving Credit Exposure as are necessary in order that such Revolving Credit Lender’s Revolving Credit Exposure reflect such Revolving Credit Lender’s Applicable Percentage of the outstanding aggregate Revolving Credit Exposure of all Revolving Credit Lenders on the date of the effectiveness hereof, and (unless otherwise waived by a Revolving Credit Lender in its sole discretion) the Borrowers agree to compensate each Revolving Credit Lender for any loss, cost or expense incurred by such Revolving Credit Lender in connection with the reallocation described above, in each case on the terms and in the manner set forth in [Section 3.05] of the Credit Agreement. First-Citizens Bank & Trust Company acknowledges, agrees and confirms that, by its execution of this Amendment, it will be deemed to be a party to the Credit Agreement and a Lender for all purposes of the Credit Agreement and the other Loan Documents, and shall have all of the rights and obligations of a Lender thereunder as if it had executed the Credit Agreement and the other Loan Documents.
C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and # aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.
“Required Revolving Lenders” means, as of any date of determination, Revolving Credit Lenders holding at least fifty-one percent (51%) of the sum of the # Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations being deemed “held” by such Revolving Credit Lender for purposes of this definition) and # aggregate unused Revolving Credit Facility. The unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings of any Defaulting Lender shall be disregarded in determining Required Revolving Lenders at any time; provided that, the amount of any participation in any Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been reallocated to and funded by another Lender shall be deemed to be held by any Lender that is the applicable L/C Issuer in making such determination.
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