Common use of Banks' Obligation to Mitigate Clause in Contracts

Banks' Obligation to Mitigate. Each Bank agrees that, as promptly as practicable after the officer of such Bank responsible for administering the Revolving Credit Loans under this Loan Agreement becomes aware of the occurrence of an event or the existence of a condition that would entitle such Bank to receive payments under Section 14 hereof, it will, to the extent not inconsistent with its internal policies, use reasonable efforts (i) to make, fund or maintain its Revolving Credit Loans through another lending office of such Bank, or (ii) take such other reasonable measures, if as a result thereof, the additional amounts which would otherwise be required to be paid to such Bank pursuant to Section 14 hereof would be materially reduced and if, as determined by such Bank in its sole discretion, the making, funding or maintaining of such Revolving Credit Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Revolving Credit Loans or the interests of such Bank; provided that such Bank will not be obligated to utilize such other lending office pursuant to this Section 14.3 unless the Borrower agrees to pay all expenses incurred by such Bank in utilizing such other lending office. A certificate as to the amount of any such expenses payable by the Borrower pursuant to this Section 14.4 (setting forth in reasonable detail the basis for requesting such amount) submitted by any Bank to the Borrower shall be conclusive absent manifest or demonstrable error.

Appears in 2 contracts

Samples: Loan Agreement (North Atlantic Trading Co Inc), Loan Agreement (North Atlantic Trading Co Inc)

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Banks' Obligation to Mitigate. Each Bank agrees that, as promptly as practicable after the officer of such Bank responsible for administering the Revolving Credit Loans under this Loan Agreement becomes aware of the occurrence of an event or the existence of a condition that would entitle such Bank to receive payments under Section 14 2.6 or Section 4 hereof, it will, to the extent not inconsistent with its internal policies, use reasonable efforts (i) to make, fund or maintain its Revolving Credit Loans through another lending office of such Bank, or (ii) take such other reasonable measures, measures if as a result thereof, thereof the additional amounts which would otherwise be required to be paid to such Bank pursuant to Section 14 2.6 or Section 4 hereof would be materially reduced and if, as determined by such Bank in its sole discretion, the making, funding or maintaining of such Revolving Credit Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Revolving Credit Loans or the interests of such Bank; provided PROVIDED that such Bank will not be obligated to utilize such other lending office pursuant to this Section 14.3 4.4 unless the Borrower agrees Borrowers agree to pay all expenses incurred by such Bank in utilizing such other lending office. A certificate as to the amount of any such expenses payable by the Borrower Borrowers pursuant to this Section 14.4 4.4 (setting forth in reasonable detail the basis for requesting such amount) submitted by any Bank to the Borrower Borrowers shall be conclusive absent manifest or demonstrable error.

Appears in 1 contract

Samples: Stock Pledge Agreement (Res Care Inc /Ky/)

Banks' Obligation to Mitigate. Each Bank agrees that, as promptly as practicable after the officer of such Bank responsible for administering the Revolving Credit Loans under this Loan Agreement becomes aware of the occurrence of an event or the existence of a condition that would entitle such Bank to receive payments under Section 14 2.6 or Section 4 hereof, it will, to the extent not inconsistent with its internal policies, use reasonable efforts (i) to make, fund or maintain its Revolving Credit Loans through another lending office of such Bank, or (ii) take such other reasonable measures, measures if as a result thereof, thereof the additional amounts which would otherwise be required to be paid to such Bank pursuant to Section 14 2.6 or Section 4 hereof would be materially reduced and if, as determined by such Bank in its sole discretion, the making, funding or maintaining of such Revolving Credit Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Revolving Credit Loans or the interests of such Bank; provided that such Bank will not be obligated to utilize such other lending office pursuant to this Section 14.3 4.4 unless the Borrower agrees Borrowers agree to pay all expenses incurred by such Bank in utilizing such other lending office. A certificate as to the amount of any such expenses payable by the Borrower Borrowers pursuant to this Section 14.4 4.4 (setting forth in reasonable detail the basis for requesting such amount) submitted by any Bank to the Borrower Borrowers shall be conclusive absent manifest or demonstrable error.

Appears in 1 contract

Samples: Loan Agreement (Res Care Inc /Ky/)

Banks' Obligation to Mitigate. Each Bank agrees that, as promptly as practicable after the officer of such Bank responsible for administering the Revolving Credit Loans under this Loan Agreement becomes aware of the occurrence of an event or the existence of a condition that would entitle such Bank to receive payments under Section 14 13 hereof, it will, to the extent not inconsistent with its internal policies, use reasonable rea-sonable efforts (i) to make, fund or maintain its Revolving Credit Loans through another lending office of such Bank, or (ii) take such other reasonable rea-sonable measures, if as a result thereof, the additional amounts which would otherwise be required to be paid to such Bank pursuant to Section 14 13 hereof would be materially reduced and if, as determined by such Bank in its sole discretion, the making, funding or maintaining of such Revolving Credit Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Revolving Credit Loans or the interests of such Bank; provided that such Bank will not be obligated to utilize such other lending office pursuant to this Section 14.3 13.3 unless the Borrower agrees to pay all expenses incurred by such Bank in utilizing such other lending office. A certificate as to the amount of any such expenses payable by the Borrower pursuant pur-suant to this Section 14.4 13.4 (setting forth in reasonable detail the basis for requesting such amount) submitted by any Bank to the Borrower shall be conclusive absent manifest or demonstrable error.

Appears in 1 contract

Samples: Loan Agreement (Sypris Solutions Inc)

Banks' Obligation to Mitigate. Each Bank agrees that, as promptly as ----------------------------- practicable after the officer of such Bank responsible for administering the Revolving Credit Loans under this Loan Agreement becomes aware of the occurrence of an event or the existence of a condition that would entitle such Bank to receive payments under Section 14 13 hereof, it will, to the extent not inconsistent with its internal policies, use reasonable efforts (i) to make, fund or maintain its Revolving Credit Loans through another lending office of such Bank, or (ii) take such other reasonable measures, if as a result thereof, the additional amounts which would otherwise be required to be paid to such Bank pursuant to Section 14 13 hereof would be materially reduced and if, as determined by such Bank in its sole discretion, the making, funding or maintaining of such Revolving Credit Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Revolving Credit Loans or the interests of such Bank; provided that such Bank will not be obligated to utilize such other lending -------- office pursuant to this Section 14.3 13.3 unless the Borrower agrees to pay all expenses incurred by such Bank in utilizing such other lending office. A certificate as to the amount of any such expenses payable by the Borrower pursuant to this Section 14.4 13.4 (setting forth in reasonable detail the basis for requesting such amount) submitted by any Bank to the Borrower shall be conclusive absent manifest or demonstrable error.

Appears in 1 contract

Samples: Loan Agreement (Sypris Solutions Inc)

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Banks' Obligation to Mitigate. Each Bank agrees that, as promptly as practicable after the officer of such Bank responsible for administering the Revolving Credit Loans and Term Loans under this Loan Agreement becomes aware of the occurrence of an event or the existence of a condition that would entitle such Bank to receive payments under Section 14 hereof, it will, to the extent not inconsistent with its internal policies, use reasonable efforts (i) to make, fund or maintain its Revolving Credit Loans and Term Loans through another lending office of such Bank, or (ii) take such other reasonable measures, measures if as a result thereof, thereof the additional amounts which would otherwise be required to be paid to such Bank pursuant to Section 14 hereof would be materially reduced and if, as determined by such Bank in its sole discretion, the making, funding or maintaining of such Revolving Credit Loans and Term Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Revolving Credit Loans or Term Loans or the interests of such Bank; provided that such Bank will not be obligated to utilize such other lending office pursuant to this Section 14.3 14.4 unless the Borrower agrees Borrowers agree to pay all expenses incurred by such Bank in utilizing such other lending office. A certificate as to the amount of any such expenses payable by the Borrower Borrowers pursuant to this Section 14.4 (setting forth in reasonable detail the basis for requesting such amount) submitted by any Bank to the Borrower Borrowers shall be conclusive absent manifest or demonstrable error.

Appears in 1 contract

Samples: Loan Agreement (Group Technologies Corp)

Banks' Obligation to Mitigate. The parties to this Loan Agreement stipulate that the provisions of this Section 2.9 shall apply to the Line of Credit Advances with the same force and effect as such provisions apply to Revolving Loans. Each Bank agrees that, as promptly as practicable after the officer of such Bank responsible for administering the Revolving Credit Loans under this Loan Agreement becomes aware of the occurrence of an event or the existence of a condition that would cause such Bank to become an Affected Bank or that would entitle such Bank to receive payments under Section 14 2.6 or 2.8 hereof, it will, to the extent not inconsistent with its such Bank's internal policies, use reasonable efforts (i) to make, fund or maintain its the Revolving Credit Loan Commitment of such Bank or the Affected Loans of such Bank through another lending office of such Bank, or (ii) take such other reasonable measures, measures if as a result thereof, thereof the circum- stances which would cause such Bank to be an Affected Bank would cease to exist or the additional amounts which would otherwise be required to be paid to such Bank pursuant to Section 14 2.6 or 2.8 hereof would be materially reduced and if, as determined by such Bank in its sole discretion, the making, funding or maintaining of such Revolving Credit Loan Commitment or Revolving Loans through such other lending office or in accordance with such other measures, as the case may be, would not otherwise materially adversely affect such Revolving Credit Loan Commitments or Revolving Loans or the interests of such Bank; provided that such Bank will not be obligated to utilize such other lending office pursuant to this Section 14.3 2.9 unless the Borrower agrees agree to pay all expenses incurred by such Bank in utilizing such other lending office. A certificate as to the amount of any such expenses payable by the Borrower pursuant to this Section 14.4 2.9 (setting forth in reasonable detail the basis for requesting such amount) submitted by any such Bank to the Borrower shall be conclusive absent manifest or demonstrable error.

Appears in 1 contract

Samples: Loan Agreement (Steel Technologies Inc)

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