Common use of Adjustment of Rateable Portion Clause in Contracts

Adjustment of Rateable Portion. If a Lender elects not to participate in a Drawdown for a Hostile Acquisition (a “Non-Participating Lender”), the Drawdown will be reduced by the Non-Participating Lenders' Rateable Portion of such Drawdown and the allocation among all Lenders of interest and other fees payable to the Lenders by the Borrower hereunder, including Standby Fees, will be adjusted so as to reflect the reduction in the Drawdown, and thereafter the Rateable Portion of each Lender, for such purposes only, will reflect the Principal Amount then funded by each Lender based on the Aggregate Principal Amount of all Lenders after taking into account the amount of the requested Drawdown not funded by the Non-Participating Lender. Notwithstanding the adjustment of the Rateable Portion pursuant to this Section 6.4, there will be no reduction in the Individual Commitment Amount of each Lender.

Appears in 3 contracts

Samples: Credit Agreement (Harvest Operations Corp.), Credit Agreement (Harvest Operations Corp.), Credit Agreement (Harvest Operations Corp.)

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Adjustment of Rateable Portion. If a Lender elects not to participate in a Drawdown for a Hostile Acquisition (a "Non-Participating Lender"), the such Drawdown will be reduced by the Non-Participating Lenders' Rateable Portion of such Drawdown thereof and the allocation among all Lenders of interest and other fees payable to the Lenders by the Borrower hereunder, including Standby Feesstandby fees, will be adjusted so as to reflect the reduction in the such Drawdown, and thereafter the Rateable Portion of each Lender, for such purposes only, will reflect the Aggregate Principal Amount then funded by each Lender based on the Aggregate Principal Amount of all Lenders after taking into account the amount of the requested Drawdown not funded by the Non-Participating Lender. Notwithstanding the adjustment of the Rateable Portion pursuant to this Section 6.47.3, there will be no reduction in the Individual Commitment Amount of each Lender.

Appears in 2 contracts

Samples: Credit Agreement (ENERPLUS Corp), Credit Agreement (Penn West Energy Trust)

Adjustment of Rateable Portion. If a Lender elects not to participate in a Drawdown for a Hostile Acquisition (a “Non-Participating Lender”), the Drawdown will be reduced by the Non-Participating Lenders' Rateable Portion of such Drawdown thereof and the allocation among all Lenders of interest and other fees payable to the Lenders by the Borrower hereunder, including Standby Feesstandby fees, will be adjusted so as to reflect the reduction in the Drawdown, and thereafter the Rateable Portion of each Lender, for such purposes only, will reflect the Aggregate Principal Amount then funded by each Lender based on the Aggregate Principal Amount of all Lenders after taking into account the amount of the requested Drawdown not funded by the Non-Participating Lender. Notwithstanding the adjustment of the Rateable Portion pursuant to this Section 6.47.3, there will be no reduction in the Individual Commitment Amount of each Lender.

Appears in 1 contract

Samples: Credit Agreement (Penn West Energy Trust)

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Adjustment of Rateable Portion. If a Lender elects not to participate in a Drawdown for a Hostile Acquisition (a "Non-Participating Lender"), the Drawdown will be reduced by the Non-Participating Lenders' Rateable Portion of such Drawdown thereof and the allocation among all Lenders of interest and other fees payable to the Lenders by the Borrower hereunder, including Standby Fees, will be adjusted so as to reflect the reduction in the Drawdown, and thereafter the Rateable Portion of each Lender, for such purposes only, will reflect the Principal Amount then funded by each Lender based on the Aggregate Principal Amount of all Lenders after taking into account the amount of the requested Drawdown not funded by the Non-Participating Lender. Notwithstanding the adjustment of the Rateable Portion pursuant to this Section 6.4, there will be no reduction in the Individual Commitment Amount of each Lender.

Appears in 1 contract

Samples: Credit Agreement (Harvest Energy Trust)

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