Amounts and Terms of the Loans and Letters of Credit Sample Clauses

Amounts and Terms of the Loans and Letters of Credit. SECTION 2.1. The Commitments. (a) Each Bank severally agrees, on the terms and subject to the conditions hereinafter set forth, to make revolving credit Loans to the Borrower from time to time on any Business Day during the period from the Closing Date until the Termination Date in an aggregate principal amount outstanding, which, when added to such Bank's Revolving Percentage of the then outstanding L/C Obligations, does not exceed at any time such Bank's Commitment; provided that no Loan shall be made as a LIBOR Rate Loan with an Interest Period ending after the Termination Date; and provided, further, that in no event shall the Total Outstanding Extensions of Credit at any time exceed the Total Commitments at such time. (b) Each Borrowing by the Borrower shall be in an aggregate principal amount not less than $10,000,000 (in the case of LIBOR Rate Loans) or $5,000,000 (in the case of ABR Loans), or an integral multiple of $1,000,000 in excess thereof and shall consist of Loans of the same Type made on the same day by the Banks ratably according to their respective Revolving Percentages. Within the limits of the applicable Commitments, the Borrower may borrow, prepay pursuant to Section 4.6 and reborrow under this Section 2.1. The principal amount outstanding on the Loans shall be due and payable on the Termination Date, together with accrued and unpaid interest thereon.
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Amounts and Terms of the Loans and Letters of Credit. 24 SECTION 2.1. Term Commitments.............................................................. 24 SECTION 2.2. Procedure for Term Loan Borrowing............................................. 24 SECTION 2.3. Repayment of Term Loans....................................................... 25 SECTION 2.4. The Revolving Commitments..................................................... 25 SECTION 2.5. Procedure for Revolving Loan Borrowing........................................ 26 SECTION 2.6. Minimum Tranches.............................................................. 27 SECTION 2.7. Letters of Credit............................................................. 27
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Amounts and Terms of the Loans and Letters of Credit. SECTION 2.01. The Loans and Letters of Credit.
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Amounts and Terms of the Loans and Letters of Credit. OBLIGATIONS PAYABLE ON DEMAND
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Amounts and Terms of the Loans and Letters of Credit. SECTION 2.01.The Loans and Letters of Credit 41 SECTION 2.02.Making the Loans 43 SECTION 2.03.Issuance of and Drawings and Reimbursement Under Letters of Credit 44 SECTION 2.04.Fees 47 SECTION 2.05.Termination or Reduction of the Commitments 47 SECTION 2.06.Repayment of Loans 47 SECTION 2.07.Interest on Loans 48 SECTION 2.08.Interest Rate Determination 49 SECTION 2.09.Optional Conversion of Loans 51 SECTION 2.10.Prepayments of Loans 51 SECTION 2.11.Increased Costs 53 SECTION 2.12.Illegality 54 SECTION 2.13.Payments and Computations 54 SECTION 2.14.Taxes 55
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Amounts and Terms of the Loans and Letters of Credit. The Loans and Letters of Credit 41 SECTION 2.02. Making the Loans 43 SECTION 2.03. Issuance of and Drawings and Reimbursement Under Letters of Credit 44 SECTION 2.04. Fees 47 SECTION 2.05. Termination or Reduction of the Commitments 47 SECTION 2.06. Repayment of Loans 47 SECTION 2.07. Interest on Loans 48 SECTION 2.08. Interest Rate Determination 49 SECTION 2.09. Optional Conversion of Loans 51 SECTION 2.10. Prepayments of Loans 51 SECTION 2.11. Increased Costs 53 SECTION 2.12. Illegality 54 SECTION 2.13. Payments and Computations 54 SECTION 2.14. Taxes 55 SECTION 2.15. Sharing of Payments, Etc. 58 SECTION 2.16. Evidence of Debt 59 SECTION 2.17. Use of Proceeds 59 SECTION 2.18. Cash Management 59 SECTION 2.19. Defaulting Lenders 61 SECTION 2.20. Replacement of Certain Lenders 64 SECTION 2.21. Reserved 64 SECTION 2.22. Failure to Satisfy Conditions Precedent 64 SECTION 2.23. Obligations of Lenders Several 64 SECTION 2.24. Priority and Liens 64 SECTION 2.25. No Discharge; Survival of Claims 66
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Amounts and Terms of the Loans and Letters of Credit. Section 2.01. The Loans and Letters of Credit 14 Section 2.02. Making the Loans 15 Section 2.03. Issuance of, Amendment to and Drawings and Reimbursements Under Letters of Credit 15 Section 2.04. Fees 18 Section 2.05. Optional Termination of Commitment 18 Section 2.06. Repayment 19 Section 2.07. Interest on Advances 19 Section 2.08. Interest Rate and Fee Determination 19 Section 2.09. Prepayments of Advances 20 Section 2.10. Cost Adjustments 21 Section 2.11. Payments and Computations 22 Section 2.12. Taxes 22 Section 2.13. Sharing of Payments, Etc 25 Section 2.14. Evidence of Debt 26 Section 2.15. Use of Proceeds and Letters of Credit 26 Section 2.16. Fundamental Changes 26 CONDITIONS TO EFFECTIVENESS AND LENDING Section 3.01. Conditions Precedent to Effectiveness of Agreement 30 Section 3.02. Conditions Precedent to Each Borrowing 31 Section 3.03. Conditions to Loans 31
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Amounts and Terms of the Loans and Letters of Credit 
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Related to Amounts and Terms of the Loans and Letters of Credit

  • Amounts and Terms of the Advances and Letters of Credit SECTION 2.01. The Advances and Letters of Credit.

  • AMOUNTS AND TERMS OF THE ADVANCES AND THE LETTERS OF CREDIT SECTION 2.01. The Advances and the Letters of Credit.

  • Amounts and Terms of the Loans 34 2.1. The Revolving Credit Loans................................................... 34 2.2. Making the Loans............................................................. 35 2.3. Fees......................................................................... 36 2.4. Reduction and Termination of the Commitments................................. 37 2.5. Repayment.................................................................... 37 2.6. Prepayments.................................................................. 38 2.7. Conversion/Continuation Option............................................... 39 2.8. Interest..................................................................... 40 2.9. Interest Rate Determination and Protection................................... 41 2.10.

  • Terms of Letters of Credit At the time of issuance or amendment, the amount, form, terms and conditions of each Letter of Credit (or amendment thereto as applicable), and of any drafts or acceptances thereunder, shall be subject to approval by the applicable Issuing Bank and the Borrower. Notwithstanding the foregoing, in no event may (i) the expiration date of any Letter of Credit extend beyond the date that is thirty (30) days prior to the Revolving Termination Date, or (ii) any Letter of Credit have an initial duration in excess of one year; provided, however, a Letter of Credit may contain a provision providing for the automatic extension of the expiration date in the absence of a notice of non-renewal from the applicable Issuing Bank but in no event shall any such provision permit the extension of the expiration date of such Letter of Credit beyond the earlier of (x) the date that is thirty (30) days prior to the Revolving Termination Date and (y) the date one year after the current expiration date of such Letter of Credit. Notwithstanding the foregoing, a Letter of Credit may, as a result of its express terms or as the result of the effect of an automatic extension provision, have an expiration date of not more than one year beyond the Revolving Termination Date (any such Letter of Credit being referred to as an “Extended Letter of Credit”), so long as the Borrower delivers to the Administrative Agent for its benefit and the benefit of the applicable Issuing Bank and the Revolving Lenders no later than fifteen (15) days (or such shorter period as agreed to by the Administrative Agent and the applicable Issuing Bank) prior to the Revolving Termination Date, Cash Collateral for such Letter of Credit for deposit into the Letter of Credit Collateral Account in an amount equal to the Stated Amount of such Letter of Credit; provided, that the obligations of the Borrower under this Section in respect of such Extended Letters of Credit shall survive the termination of this Agreement and shall remain in effect until no such Extended Letters of Credit remain outstanding. If the Borrower fails to provide Cash Collateral with respect to any Extended Letter of Credit by the date fifteen (15) days prior to the Revolving Termination Date, such failure shall be treated as a drawing under such Extended Letter of Credit (in an amount equal to the maximum Stated Amount of such Letter of Credit), which shall be reimbursed (or participations therein funded) by the Revolving Lenders in accordance with the immediately following subsections (i) and (j), with the proceeds being utilized to provide Cash Collateral for such Letter of Credit. The initial Stated Amount of each Letter of Credit shall be at least $50,000 (or such lesser amount as may be acceptable to the applicable Issuing Bank, the Administrative Agent and the Borrower).

  • Use of Loans and Letters of Credit The proceeds of the Loans and the Letters of Credit shall be used to provide working capital for exploration and production operations, to provide funding for general corporate purposes, including the issuance of letters of credit. The Borrower and its Subsidiaries are not engaged principally, or as one of its or their important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of Regulation T, U or X of the Board). No part of the proceeds of any Loan or Letter of Credit will be used for any purpose which violates the provisions of Regulations T, U or X of the Board.

  • Loans and Letters of Credit On the Closing Date:

  • First Loans and Letters of Credit On the Closing Date:

  • Amount and Terms of the Loans 2.1 Commitments 25 2.2 Borrowings 26 2.3 Disbursements; Funding Reliance; Domicile of Loans 29 2.4 Evidence of Debt; Notes 30

  • Conditions to All Loans and Letters of Credit The obligation of each Lender to make any Loan (other than any Revolving Credit Loan the proceeds of which are to be used to repay Refunded Swing Line Loans) and the obligation of each Issuing Lender to issue any Letter of Credit is subject to the satisfaction of the following conditions precedent on the relevant Borrowing Date:

  • Conditions Precedent to Loans and Letters of Credit 32 Section 3.1 Conditions To Effectiveness.................................................32 Section 3.2 Each Credit Event...........................................................33 Section 3.3 Delivery of Documents.......................................................34