Common use of Amounts and Terms of the Commitments Clause in Contracts

Amounts and Terms of the Commitments. (a) Each Lender severally agrees, on the terms and conditions set forth herein, to make loans to the Company (each such loan, a “Revolving Credit Loan”) from time to time on any Business Day during the period from the Effective Date to the Termination Date, so long as (a) with respect to any Lender, such Revolving Credit Loans then requested to be made by such Lender do not exceed such Lender’s Pro Rata Share of the aggregate amount of all Loans then requested from the Lenders, and (b) the sum of the aggregate principal amount of all Revolving Credit Loans by all Lenders hereunder plus the aggregate principal amount of all Swing Line Loans plus the LC Obligation outstanding at any time does not exceed the Borrowing Base in effect at such time. Subject to the terms and conditions hereof, until the Termination Date, Company may borrow, repay, and reborrow hereunder.

Appears in 2 contracts

Samples: Credit Agreement (BreitBurn Energy Partners L.P.), Credit Agreement (BreitBurn Energy Partners L.P.)

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Amounts and Terms of the Commitments. (a) Each Lender severally agrees, on the terms and conditions set forth herein, to make revolving credit loans to the Company (each such loan, a “Revolving Credit Loan”) from time to time on any Business Day during the period from the Effective Date Time to the Termination DateDate (together with any conversions or continuations thereof, "Loans"), so long as, as (a) with respect to any Lender, such Revolving Credit Loans then of the time at which the requested Loan is to be made and after giving effect to such Borrowing, (i) the aggregate amount of all Loans by such Lender do at such time does not exceed such Lender’s 's Pro Rata Share of the aggregate amount of Loans of all Loans then requested from the LendersLenders at such time, and (bii) the sum of the aggregate principal amount of all Revolving Credit such Lender's Loans by all Lenders hereunder plus the aggregate principal amount and such Lender's Pro Rata Share of all Swing Line Loans plus the LC Obligation outstanding at any such time does not exceed the Borrowing Base in effect at such timeLender's Commitment. Subject to the terms and conditions hereof, until the Termination Date, the Company may borrow, repay, and reborrow Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Venoco, Inc.)

Amounts and Terms of the Commitments. (a) Each Lender severally agrees, on the terms and conditions set forth herein, to make revolving credit loans to the Company (each such loan, a “Revolving Credit Loan”) from time to time on any Business Day during the period from the Effective Date Time to the Termination DateDate (together with any conversions or continuations thereof, “Loans”), so long as, as (a) with respect to any Lender, such Revolving Credit Loans then of the time at which the requested Loan is to be made and after giving effect to such Loan, (i) the aggregate amount of all Loans by such Lender do at such time does not exceed such Lender’s Pro Rata Share of the aggregate amount of Loans of all Loans then requested from the LendersLenders at such time, and (bii) the sum aggregate amount of such Lender’s Loans and such Lender’s Pro Rata Share of the aggregate principal amount of all Revolving Credit Loans by all Lenders hereunder plus the aggregate principal amount of all Swing Line Loans plus the LC Obligation Obligations outstanding at any such time does not exceed the Borrowing Base in effect at such timeLender’s Commitment. Subject to the terms and conditions hereof, until the Termination Date, the Company may borrow, repay, and reborrow Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Venoco, Inc.)

Amounts and Terms of the Commitments. (a) Each Lender severally agrees, on the terms and conditions set forth herein, to make loans denominated in dollars to the Company (each such loan, a “Revolving Credit Loan”) from time to time on any Business Day during the period from the Effective Date to the Termination Date, so long as (a) with respect to any Lender, such Revolving Credit Loans then requested to be made by such Lender do not exceed such Lender’s Pro Rata Share of the aggregate amount of all Loans then requested from the Lenders, and (b) the sum of the aggregate principal amount of all Revolving Credit Loans by all Lenders hereunder plus the aggregate principal amount of all Swing Line Loans plus the LC Obligation outstanding at any time does not exceed the lesser of the Borrowing Base and the Elected Commitment Amount in effect at such time. Subject to the terms and conditions hereof, until the Termination Date, Company may borrow, repay, and reborrow hereunder.. Third Amended and Restated Credit Agreement – Breitburn Operating LP Page 28

Appears in 1 contract

Samples: Credit Agreement (Breitburn Energy Partners LP)

Amounts and Terms of the Commitments. (a) Each Lender severally agrees, on the terms and conditions set forth herein, to make revolving credit loans to the Company (each such loan, a “Revolving Credit Loan”) from time to time on any Business Day during the period from the Effective Date Time to the Termination DateDate (together with any conversions or continuations thereof, “Loans”), so long as, as (a) with respect to any Lender, such Revolving Credit Loans then of the time at which the requested Loan is to be made and after giving effect to such Borrowing, (i) the aggregate amount of all Loans by such Lender do at such time does not exceed such Lender’s Pro Rata Share of the aggregate amount of Loans of all Loans then requested from the LendersLenders at such time, and (bii) the sum aggregate amount of such Lender’s Loans and such Lender’s Pro Rata Share of the aggregate principal amount of all Revolving Credit Loans by all Lenders hereunder plus the aggregate principal amount of all Swing Line Loans plus the LC Obligation Obligations outstanding at any such time does not exceed the Borrowing Base in effect at such timeLender’s Commitment. Subject to the terms and conditions hereof, until the Termination Date, the Company may borrow, repay, and reborrow Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Exploration Co of Delaware Inc)

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Amounts and Terms of the Commitments. (a) Each Lender severally agrees, on the terms and conditions set forth herein, to make loans denominated in dollars to the Company (each such loan, a “Revolving Credit Loan”) from time to time on any Business Day during the period from the Effective Date to the Termination Date, so long as (a) with respect to any Lender, such Revolving Credit Loans then requested to be made by such Lender do not exceed such Lender’s Pro Rata Share of the aggregate amount of all Loans then requested from the Lenders, and (b) the sum of the aggregate principal amount of all Revolving Credit Loans by all Lenders hereunder plus the aggregate principal amount of all Swing Line Loans plus the LC Obligation outstanding at any time does not exceed the lesser of the Borrowing Base and the Elected Commitment Amount in effect at such time. Subject to the terms and conditions hereof, until the Termination Date, Company may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement

Amounts and Terms of the Commitments. (a) Each Lender severally agrees, on the terms and conditions set forth herein, to make revolving credit loans to the Company (each such loan, a “Revolving Credit Loan”) from time to time on any Business Day during the period from the Effective Date Time to the Termination DateDate (together with any conversions or continuations thereof, "Revolving Credit Loans"), so long as (a) with respect to any Lender, such all Revolving Credit Loans then requested to be made by such Lender do not exceed such Lender’s 's Pro Rata Share of the aggregate amount of all Revolving Credit Loans then requested from the all Lenders, and (b) the sum of the aggregate principal amount of all such Lender's Revolving Credit Loans by all Lenders hereunder plus the aggregate principal amount of all Swing Line Loans plus the and LC Obligation outstanding at any time does not exceed such Lender's Commitment as of the Borrowing Base in effect at such timedate on which the requested Revolving Credit Loan is to be made. Subject to the terms and conditions hereof, until the Termination Date, the Company may borrow, repay, and reborrow Revolving Credit Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (BMC, Ltd.)

Amounts and Terms of the Commitments. (a) Each Lender severally agrees, on the terms and conditions set forth herein, to make revolving credit loans to the Company (each such loan, a “Revolving Credit Loan”) from time to time on any Business Day during the period from the Effective Date Time to the Termination DateDate (together with any conversions or continuations thereof, “Loans”), so long as, as (a) with respect to any Lender, such Revolving Credit Loans then of the time at which the requested Loan is to be made and after giving effect to such Borrowing, (i) the aggregate amount of all Loans by such Lender do at such time does not exceed such Lender’s Pro Rata Share of the aggregate amount of Loans of all Loans then requested from the LendersLenders at such time, and (bii) the sum of the aggregate principal amount of all Revolving Credit such Lender’s Loans by all Lenders hereunder plus the aggregate principal amount and such Lender’s Pro Rata Share of all Swing Line Loans plus the LC Obligation outstanding at any such time does not exceed the Borrowing Base in effect at such timeLender’s Commitment. Subject to the terms and conditions hereof, until the Termination Date, the Company may borrow, repay, and reborrow Loans hereunder.

Appears in 1 contract

Samples: Credit Agreement (Venoco, Inc.)

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