Common use of Borrowings; Several Obligations Clause in Contracts

Borrowings; Several Obligations. Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans made by the Lenders ratably in accordance with their respective Revolving Commitments. Each Term Loan shall be deemed to be made as part of a Term Borrowing consisting of Term Loans made by the Lenders in an amount equal to each Lender’s Term Loan Commitment. 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.)

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Borrowings; Several Obligations. Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans made by the Revolving Lenders ratably in accordance with their respective Revolving Commitments. Each Term Loan shall be deemed to be made as part of a Term Borrowing consisting of Term Loans made by the Lenders in an amount equal to each Lender’s Term Loan CommitmentLenders 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 Loan made under the Revolving Loan 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 Loan 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 CommitmentLenders 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)

Borrowings; Several Obligations. Each Revolving Loan 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 First-Tranche Term Loan and the Second-Tranche Term Loan shall be deemed to be made as part of a Term Borrowing consisting of Term Loans made by the Term Lenders ratably in an amount equal to each Lender’s accordance with their Term Loan CommitmentPercentages. 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 First-Tranche Term Loan Commitments, the Second-Tranche 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 (Dune Energy Inc)

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Borrowings; Several Obligations. Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans made by the Lenders ratably in accordance with their respective Revolving Commitments. Each Term Loan shall be deemed to be made as part of a Term Borrowing consisting of Term Loans made by the Term Lenders in an amount equal to each Term Lender’s Term Loan Commitment. 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 (Northern Oil & Gas, Inc.)

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