Advances to Satisfy Obligations of the Borrower. The Administrative Agent or any Bank may, but shall not be obligated to, make advances hereunder for the benefit of the Banks and apply same to the satisfaction of any condition, warranty, representation or covenant of the Borrower contained in this Agreement, and the funds so advanced and applied shall be part of the Loan proceeds advanced under this Agreement and evidenced by the Notes.
Appears in 6 contracts
Samples: Term and Revolving Credit Agreement (Continental Resources Inc), Credit Agreement (Energy Partners LTD), Credit Agreement (Ultra Petroleum Corp)
Advances to Satisfy Obligations of the Borrower. The Administrative Agent or any Bank may, but shall not be obligated to, make advances hereunder for the benefit of the Banks and apply same to the satisfaction of any condition, warranty, representation or covenant of the Borrower contained in this Agreement, and the funds so advanced and applied shall be part of the Loan proceeds advanced under this Agreement and evidenced by the Notes.
Appears in 2 contracts
Samples: Reducing Revolving Credit Agreement (Energy Partners LTD), Reducing Revolving Credit Agreement (Energy Partners LTD)
