Common use of Borrowings; Several Obligations Clause in Contracts

Borrowings; Several Obligations. Each Loan made under the Revolving Tranche shall be made as part of a Revolving Borrowing consisting of Revolving Loans made by the Revolving Lenders ratably in accordance with their respective Revolving Commitments. Each Loan made under the Term Tranche shall be made as part of a Term Loan Borrowing consisting of Term Loans made by the Term Loan Lenders ratably in accordance with their respective Term Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required.

Appears in 1 contract

Samples: Credit Agreement (Hercules Offshore, LLC)

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Borrowings; Several Obligations. Each Revolving Loan made under the Revolving Tranche shall be made as part of a Revolving Borrowing consisting of Revolving Loans made by the Revolving Lenders ratably in accordance with their respective Revolving Commitments. Each Term Loan made under the Term Tranche shall be deemed to be made as part of a Term Loan Borrowing consisting of Term Loans made by the Lenders in an amount equal to each Lender’s Term Loan Lenders ratably in accordance with their respective Term CommitmentsCommitment. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required.

Appears in 1 contract

Samples: Credit Agreement (Lonestar Resources US Inc.)

Borrowings; Several Obligations. Each Revolving Loan made under the Revolving Tranche shall be made as part of a Revolving Borrowing consisting of Revolving Loans made by the Revolving Lenders ratably in accordance with their respective Revolving Commitments. Each Term Loan made under the Term Tranche shall be made as part of a Term Loan Borrowing consisting of Term Loans made by the Term Loan Lenders ratably in accordance with their respective Term Loan Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required.

Appears in 1 contract

Samples: Credit Agreement (Whiting Petroleum Corp)

Borrowings; Several Obligations. Each Revolving Loan made under the Revolving Tranche shall be made as part of a Revolving Borrowing consisting of Revolving Loans made by the Revolving Lenders ratably in accordance with their respective Revolving Commitments. Each The Term Loan made under the Term Tranche shall be made as part of a Term Loan Borrowing consisting of Term Loans made by the Term Loan Lenders ratably in accordance with their respective Term CommitmentsLoan Percentages. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Term Loan Commitments, the Term Loan Commitments and the Commitments are several and no Lender shall be responsible for any other Lender’s 's failure to make Loans as required.

Appears in 1 contract

Samples: Credit Agreement (Baseline Oil & Gas Corp.)

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Borrowings; Several Obligations. Each Revolving Loan made under the Revolving Tranche shall be made as part of a Revolving Borrowing consisting of Revolving Loans made by the Revolving Lenders ratably Banks in accordance with their respective Applicable Revolving CommitmentsCommitment Percentages. Each Term Loan made under the Term Tranche shall be made as part of a Term Loan Borrowing consisting of Term Loans made by the Term Loan Lenders ratably Banks in accordance with their respective Applicable Term CommitmentsCommitment Percentages. The failure of any Lender Bank to make any Loan required to be made by it shall not relieve any other Lender Bank of its obligations hereunder; provided that the Commitments are several and no Lender Bank shall be responsible for any other LenderBank’s failure to make Loans as required.

Appears in 1 contract

Samples: Credit Agreement (Vital Energy, Inc.)

Borrowings; Several Obligations. Each Revolving Loan made under the Revolving Tranche shall be made as part of a Revolving Borrowing consisting of Revolving Loans made by the Revolving Lenders ratably in accordance with their respective Revolving Commitments. Each Term Loan made under the Term Tranche shall be made as part of a Term Loan Borrowing consisting of Term Loans made by the Term Loan Lenders ratably in accordance with their respective Term Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required.

Appears in 1 contract

Samples: Credit Agreement (Earthstone Energy Inc)

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