IM » Topics » Commitments

This excerpt taken from the IM 8-K filed Jul 21, 2008.
Commitments.  On the terms and subject to the conditions of this Agreement (including Article VI), each Lender severally agrees that it will make a single loan to the Borrower on any Business Day occurring prior to the Commitment Termination Date in an amount equal to such Lender’s Percentage of the aggregate amount of the Borrowing to be made on such Business Day, all in accordance with Section 3.1; provided that no Lender shall be required to make any Loan in excess of its Credit Commitment Amount.  If the aggregate amount of the Borrowing on such date shall be less than the Total Commitment Amount, the unused portion of the Total Commitment Amount shall thereupon be cancelled without further action by any Person.  Amounts borrowed under this Section 2.1 and repaid or prepaid may not be reborrowed.
 
This excerpt taken from the IM 8-K filed Aug 2, 2005.
Commitments. On the terms and subject to the conditions of this Agreement (including Article VI), each Lender severally agrees that it will, from time to time on any Business Day occurring prior to the Commitment Termination Date:

     (a) make loans in Available Currencies (“Revolving Loans”) to any Borrower equal to such Lender’s Percentage of the aggregate amount of the Borrowing to be made on such Business Day, all in accordance with Section 3.1; provided that no Lender shall be required to make any Revolving Loan if, after giving effect thereto:

     (i) such Lender’s Outstanding Credit Extensions would exceed its Credit Commitment Amount; or

     (ii) the aggregate Outstanding Credit Extensions of all the Lenders would exceed the then Total Credit Commitment Amount; and

     (b) purchase participation interests in Available Currencies equal to its Percentage in each Letter of Credit issued upon the application of any Borrower pursuant to Section 3.2; provided that no Issuer shall issue a Letter of Credit if, after giving effect thereto:

     (i) the aggregate Letter of Credit Outstandings would exceed the then Letter of Credit Limit; or

     (ii) the aggregate Outstanding Credit Extensions of all the Lenders would exceed the then Total Credit Commitment Amount.

On and subject to the conditions hereof, the Borrowers may from time to time borrow, prepay and reborrow Revolving Loans and may apply for, extinguish or reimburse drawings made under and re-apply for Letters of Credit. For purposes of this Section 2.1, the Dollar Amount on any date of any Credit Extension denominated in an Available Currency (other than Dollars) shall be calculated based upon the spot rate at which Dollars are offered on such day for such Available Currency which appears on Telerate Page 261 at approximately 11:00 a.m., London time, (and if such spot rate is not available on Telerate Page 261 as of such time, such spot rate as quoted by Scotia Capital, in London at approximately 11:00 a.m., London time).

     

EXCERPTS ON THIS PAGE:

8-K
Jul 21, 2008
8-K
Aug 2, 2005
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