Agent Loans. Upon the occurrence and during the continuance of an Event of Default, Agent, in its sole discretion, may make Revolving Credit Loans on behalf of Lenders, in an aggregate amount not to exceed $5,000,000, if Agent, in its reasonable business judgment, deems that such Revolving Credit Loans are necessary or desirable (i) to protect all or any portion of the Collateral, (ii) to enhance the likelihood, or maximize the amount of, repayment of the Loans and the other Obligations, or (iii) to pay any other amount chargeable to any Borrower pursuant to this Agreement, including without limitation costs, fees and expenses as described in Sections 2.8 and 2.9 (hereinafter, "Agent Loans"); provided, that in no event shall (a) the maximum principal amount of the Revolving Credit Loans exceed the aggregate Revolving Loan Commitments and (b) Majority Lenders may at any time revoke Agent's authorization to make Agent Loans. Any such revocation must be in writing and shall become effective prospectively upon Agent's receipt thereof. Each Lender shall be obligated to advance its Revolving Loan Percentage of each Agent Loan. If Agent Loans are made pursuant to the preceding sentence, then (a) the Borrowing Base shall be deemed increased by the amount of such permitted Agent Loans, but only for so long as Agent allows such Agent Loans to be outstanding, and (b) all Lenders that have committed to make Revolving Credit Loans shall be bound to make, or permit to remain outstanding, such Agent Loans based upon their Revolving Loan Percentages in accordance with the terms of this Agreement.
Agent Loans. Upon the occurrence and during the continuance of an Event of Default, Agent, in its sole discretion, may make Revolving Credit Loans on behalf of Lenders, in an aggregate amount not to exceed One Million Dollars ($1,000,000), if Agent, in its reasonable business judgment, deems that such Revolving Credit Loans are necessary or desirable (i) to protect all or any portion of the Collateral, (ii) to enhance the likelihood, or maximize the amount of, repayment of the Loans and the other Obligations, or (iii) to pay any other amount chargeable to Borrowers pursuant to this Agreement, including without limitation costs, fees and expenses as described in Sections 2.8 and 2.9 (hereinafter, "Agent Loans"); provided, that in no event shall (a) the maximum principal amount of the Revolving Credit Loans exceed the aggregate Revolving Loan Commitments and (b) Majority Lenders (or if there are only two Lenders, any Lender, or if there are three or more Lenders, any two Lenders so long as any one of said two Lenders has one third or more of the Revolving Loan Commitments (or if the Revolving Loan Commitments have been terminated, one third of the outstanding Revolving Credit Loans)) may at any time revoke Agent's authorization to make Agent Loans. Any such revocation must be in writing and shall become effective prospectively upon Agent's receipt thereof. Each Lender shall be obligated to advance its Revolving Loan Percentage of each Agent Loan. If Agent Loans are made pursuant to the preceding sentence, then (a) the Borrowing Base shall be deemed increased by the amount of such permitted Agent Loans, but only for so long as Agent allows such Agent Loans to be outstanding, and (b) all Lenders that have committed to make Revolving Credit Loans shall be bound to make, or permit to remain outstanding, such Agent Loans based upon their Revolving Loan Percentages in accordance with the terms of this Agreement.
Agent Loans. Subject to the terms and conditions hereof, the Agent may, in its sole discretion, make one or more loans (each an "Agent Loan") to the Borrower from time to time before the Commitment Termination Date in an aggregate amount not to exceed at any time outstanding the amount of the Agent Swing Line. Agent Loans may be repaid, in whole or in part, at any time. Upon an Event of Default and at the request of the Agent, (i) the Lenders agree to make Revolving Loans to the Borrower in an amount equal to the outstanding amount of the Agent Loans, and the Borrower hereby instructs the Agent in such circumstance to apply the proceeds of such Revolving Loans to such Agent Loans such that the Agent Loans are repaid in full; or (ii) in the event any such Revolving Loans are not made, each Lender severally and not jointly agrees to purchase from the Agent, and the Agent hereby agrees to sell to each Lender, an undivided percentage participation interest, up to the extent of its Percentage, in each Agent Loan, in each case so long as no Default or Event of Default of which the Agent had actual knowledge was in existence at the time the Agent Loan was made and such that the principal amount of each Lender's Revolving Loans and/or participations in Agent Loans shall be an amount equal to its Percentage times the principal amount of all Loans.
Agent Loans. Agent Loans shall be repaid pursuant to the terms of the respective partnership agreement as third party loans of the Partnerships to which a loan was made. Notwithstanding Section 2.3(v) of this Services Agreement, Agent Loans shall be repaid prior to the Existing Loans.
Agent Loans. Upon the occurrence and during the continuance of a Default or Event of Default, Canadian Agent, in the case of Canadian Borrower, and U.S. Agent, in the case of U.S. Borrower, in its sole discretion, may make Revolving Credit Loans on behalf of the applicable Lenders, in an aggregate amount not to exceed Cdn. $2,000,000, or the Equivalent thereof, if Canadian Agent or U.S. Agent, as applicable, in its reasonable business judgment, deems that such Revolving Credit Loans are necessary or desirable (i) to protect all or any portion of the Collateral, (ii) to enhance the likelihood, or maximize the amount of, repayment of the Loans and the other Obligations, or (iii) to pay any other amount chargeable to a Borrower pursuant to this Agreement, including without limitation costs, fees and expenses as described in Sections 2.8 and 2.9, which have not otherwise been paid by such Borrower (hereinafter, “Agent Loans”); provided, that (a) in no event shall the outstanding principal amount of the Revolving Credit Loans plus the aggregate LC Amount exceed the Aggregate Revolving Loan Commitment, (b) in no event (except as may be permitted by Section 1.1.5) shall the outstanding principal amount of the Canadian Revolving Credit Loans plus the Canadian LC Amount plus reserves applicable to Canadian Borrower in accordance with this Agreement exceed the Canadian Borrowing Base (as the same may be deemed to be increased pursuant to subsection 1.1.7(e) below), (c) in no event (except as may be permitted by Section 1.1.5) shall the outstanding principal amount of the U.S. Revolving Credit Loans plus the U.S. LC Amount plus reserves applicable to U.S. Borrower in accordance with this Agreement exceed the U.S. Borrowing Base (as the same may be deemed to be increased pursuant to subsection 1.1.7(e) below), and (d) Majority Lenders may at any time revoke Canadian Agent’s or U.S. Agent’s authorization to make Agent Loans. Any such revocation must be in writing and shall become effective prospectively upon Canadian Agent’s or U.S. Agent’s, as applicable, receipt thereof. Each Canadian Lender, in the case of the Canadian Borrower, and each U.S. Lender, in the case of the U.S. Borrower, shall be obligated to advance its Revolving Loan Percentage of each Agent Loan. If Agent Loans are made pursuant to the preceding sentence, then (e) the Canadian Borrowing Base or the U.S. Borrowing Base, as applicable, shall be deemed increased by the amount of such permitted Agent Loans, but only ...
Agent Loans. Upon the occurrence and during the continuance of an Event of Default, each Agent, in its sole discretion, may make Revolving Credit Loans to the Borrowers to which it has a Revolving Loan Commitment on behalf of the applicable Lender(s) (to (i) U.S. Borrower, in Dollars, (ii) U.K. Borrower, in Sterling or Euros and (iii) Canadian Borrower, in Canadian Dollars), so long as the aggregate amount of such Revolving Credit Loans shall not exceed the Dollar Equivalent of $2,500,000, if Agents, in their reasonable business judgment, deem that such Revolving Credit Loans are necessary or desirable (i) to protect all or any portion of the Collateral, (ii) to enhance the likelihood, or maximize the amount of, repayment of the Loans and the other Obligations, or (iii) to pay any other amount chargeable to any Borrower pursuant to this Agreement, including without limitation costs, fees and expenses as described in Sections 2.9 and 2.10 (such Revolving Credit Loans, hereinafter, "Agent Loans"); provided that (a) in no event shall the maximum principal amount of the Revolving Credit Loans and the LC Obligations exceed the aggregate Revolving Loan Commitments and (b) any Revolving Credit Loans made to protect all or any portion of the Canadian Collateral shall not be made to U.S. Borrower or the U.K.
Agent Loans. Upon the occurrence and during the continuance of an Event of Default, each Agent, in its sole discretion, may make Revolving Credit Loans to the Borrowers to which it has a Revolving Loan Commitment on behalf of the applicable Lender(s) (to (i) U.S. Borrower, in Dollars, (ii) U.K. Borrower, in Sterling or Euros and (iii) Canadian
Agent Loans. Upon the occurrence and during the continuance of an Event of Default, Agent, in its sole discretion, may make Revolving Credit Loans on behalf of Lenders, in an aggregate amount not to exceed One Million Dollars ($1,000,000), if Agent, in its reasonable business judgment, deems that such Revolving Credit Loans are necessary or 2
Agent Loans. Upon the occurrence and during the continuance of ----------- an Event of Default, Agent, in its sole discretion, may make Revolving Credit Loans on behalf of Lenders, in an aggregate amount not to exceed One Million Dollars ($1,000,000), if Agent, in its reasonable business judgment, deems that such Revolving Credit Loans are necessary or desirable (i) to protect all or any portion of the Collateral, (ii) to enhance the likelihood, or maximize the amount of, repayment of the Loans and the other Obligations, or (iii) to pay any
Agent Loans. Agent, at its discretion, may elect to make any Advances solely for Agent's own account and not as part of the Pro Rata Share of Agent as a Lender, provided that, the aggregate outstanding principal balance of such Advances shall not exceed $5,000,000 at any time. Such Advances shall constitute "AGENT LOANS" under this Agreement.
