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This excerpt taken from the FL 8-K filed May 21, 2008. . Commitments to Lend. Each
Bank severally agrees, on the terms and conditions set forth in this Agreement,
to make revolving loans to the Borrowers pursuant to this Section from time
to time on and after the Effective Date and prior to the Termination Date; provided
that, immediately after each such loan is made (and after giving effect to any
substantially concurrent application of the proceeds thereof to repay outstanding
Committed Loans and Swingline Loans):
(i) such Bank’s Outstanding Committed Amount shall not exceed its Commitment; (ii) the Total Usage shall not exceed the Total Commitments; and (iii) subject to Section 3.03(c), the aggregate outstanding principal amount of Committed Loans and Money Market Loans (x) to Foot Locker Europe B.V. does not exceed $40,000,000 and (y) to the Company, together with the aggregate outstanding principal amount of Swingline Loans, does not exceed $50,000,000. Each Base Rate Borrowing under this Section 2.01 shall be in an aggregate principal amount of $2,500,000 or any larger multiple of $1,000,000, and each Euro-Dollar Borrowing shall be in an aggregate principal amount of $5,000,000 or any larger multiple of $1,000,000; provided that (x) any such Borrowing may be in an aggregate amount equal to the aggregate unused amount of the Commitments and (y) if such Borrowing is made on the Swingline Maturity Date, such Borrowing may be in the aggregate amount of the Swingline Loans outstanding on such date. Each such Borrowing shall be made from the several Banks ratably in proportion to their respective Commitments. Within the foregoing limits and subject to Section 2.11, the Borrowers may borrow under this
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Section 2.01, prepay Loans to the extent permitted by Section 2.13, and reborrow under this Section 2.01 at any time prior to the Termination Date. Section 2.02 |
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