Common use of Commitments to Lend; Notes Clause in Contracts

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note.

Appears in 3 contracts

Samples: Credit Agreement (Sundance Energy Australia LTD), Credit Agreement (Sundance Energy Australia LTD), Credit Agreement (Sundance Energy Australia LTD)

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Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Revolving Lender agrees agrees, severally and not jointly, to make loans Revolving Loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s the request of Borrower from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Revolving Loans of the same Type made on the same day shall be made by Revolving Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, ; and (b) after giving effect to such Revolving Loans, the Revolving Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Aggregate Commitment. The obligation of Borrower may have no to repay to each Revolving Lender the aggregate amount of all Revolving Loans made by such Revolving Lender, together with interest accruing in connection therewith, shall be evidenced by one or more than 5 Borrowings promissory notes made by Borrower payable to the order of Eurodollar Loans outstanding such Revolving Lender in the principal amount of the Revolving Loan Commitment of the applicable Revolving Lender, substantially in the form of Exhibit 2.1 (each a “Revolving Note” and, collectively, the “Revolving Notes”). The amount of principal owing on any Revolving Note at any timegiven time shall be the aggregate amount of all Revolving Loans theretofore made by such Revolving Lender minus all payments of principal theretofore received by such Revolving Lender on such Revolving Note. Interest on each Loan Revolving Note shall accrue and be due and payable as provided herein. Each Loan Revolving Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note.

Appears in 3 contracts

Samples: Credit Agreement (Comfort Systems Usa Inc), Credit Agreement (Comfort Systems Usa Inc), Credit Agreement (Comfort Systems Usa Inc)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Revolving Base Rate Loans (other than Revolving Loans made pursuant to Section 2.1 l (b2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (aother than Loans made pursuant to Section 2.12(b)) in the case of Eurodollar Loans, any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 1,000,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Borrowing Base. Borrower may have no more than 5 ten Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 3 contracts

Samples: Credit Agreement (Vantage Energy Inc.), Credit Agreement (Vantage Energy Inc.), Credit Agreement (Vantage Energy Inc.)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving loans, the aggregate principal amount of outstanding Loans will not exceed $40,000,000, and (c) after giving effect to such Loans, the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base or determined as of the Aggregate Commitment then in effectdate on which the requested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 2,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability250,000. Borrower may have no more than 5 five Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the last day of the Commitment Period. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Plains All American Pipeline Lp), Credit Agreement (Plains All American Pipeline Lp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effectAvailability at such time. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b2.10(b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 four (4) Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall may, at the option and upon the request of a Lender, be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note.

Appears in 2 contracts

Samples: Credit Agreement (Alta Mesa Resources, Inc. /DE), Credit Agreement (Silver Run Acquisition Corp II)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Dollar Equivalent of the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base or determined as of the Aggregate Commitment then in effectdate on which the requested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 2,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability250,000. Borrower may have no more than 5 five Borrowings of Eurodollar LIBOR Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the last day of the Commitment Period. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) only one advance of new funds may be borrowed hereunder, and all Loans thereafter must be continuations or conversions of previous Loans, (b) the aggregate amount requested from all Lenders for such advance of new funds may not exceed the Maximum Loan Amount, and (c) subject to Sections 3.3, 3.4 and 3.6, all Lenders must be requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Revolving Eurodollar Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in $3,000,000, and the case aggregate amount of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of all Base Rate Loans, Loans in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability1,000,000. Borrower may have no more than 5 six Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made funds lent by such Lender under such Note minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein, with Eurodollar Loans bearing interest at the Eurodollar Rate and Base Rate Loans bearing interest at the Base Rate (subject to the applicability of the Default Rate and limited by the provisions of Section 10.7). Funds borrowed and repaid hereunder may not be reborrowed.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Parker Drilling Co /De/)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans advances to Borrower (herein called such Lender’s “Revolving Loans”'s "LOANS") upon Borrower’s request from time to time during the Commitment Period, provided that Period so long as (a) subject to Sections 3.3, 3.4 and 3.6, Loans each Loan by such Lender does not exceed such Lender's Percentage Share of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages and as part aggregate amount of the same BorrowingLoans then requested from all Lenders, and (b) after giving effect to the aggregate amount of such Revolving Loans, the Facility Usage Lender's Loans outstanding at any time does not exceed the lesser such Lender's Percentage Share of the Borrowing Base or determined as of the Aggregate Commitment then in effectdate on which the requested Loan is to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) requested of all Lenders in any Borrowing Request for Loan must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityunadvanced portion of the Borrowing Base. Borrower may have no more than 5 *[five] Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, Lender together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”'s "NOTE") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein, with Eurodollar Loans bearing interest at the Eurodollar Rate and Base Rate Loans bearing interest at the Base Rate (subject to the applicability of the Late Payment Rate. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (STB Systems Inc)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender severally agrees to make loans Loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s 's request from time to time during the Commitment Period, ; provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Dollar Equivalent of the Facility Usage does not exceed the lesser Facility Amount determined as of the Borrowing Base or date on which the Aggregate requested Loans are to be made, (c) after giving effect to such Loans, the Dollar Equivalent of such Lender's Loans and Percentage Share of any LC Obligations does not exceed such Lender's Commitment then in effectdetermined as of the date on which the requested Loans are to be made, and (d) the aggregate outstanding principal amount of Canadian Eurodollar Loans does not exceed Fifty Million Canadian Dollars (C$50,000,000). The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing consisting of Base Rate Loans must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Facility Amount and the aggregate amount of all Loans in any Borrowing consisting of Eurodollar Loans must be greater than or equal to $3,000,000. Borrower may have no more than 5 seven (7) Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable on each Interest Payment Date as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. Borrower may, upon three (3) Business Days' prior written notice to Administrative Agent, irrevocably cancel all or any portion of the Unused Amount. 2. 3. Section 2.

Appears in 1 contract

Samples: Credit Agreement (Midcoast Energy Resources Inc)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender severally agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the aggregate principal amount of outstanding Loans will not exceed the Maximum Loan Amount, and (c) after giving effect to such Loans, the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base or determined as of the Aggregate Commitment then date on which the requested Loans are to be made, provided further that, at all times prior to the termination of the Salomon Facility and all Salomon Guaranty Exposure and the payment in effectfull of all Salomon Obligations, after giving effect to such Loans, the Facility Usage plus the Salomon Guaranty Exposure does not exceed the Borrowing Base determined as of the date on which the requested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 100,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 five Borrowings of Eurodollar LIBOR Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the last day of the Commitment Period. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Genesis Energy Lp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections Section 3.3, 3.4 Section 3.4, and Section 3.6, all Lenders are requested to make Revolving Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, Loans (i) the sum of the Facility Usage and the principal amount of SG Obligations then outstanding does not exceed the lesser of (ii) the Borrowing Base or determined as of the Aggregate Commitment then in effectdate on which the requested Revolving Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing of Base Rate Loans must be greater than or equal to (a) $500,000 or a higher integral multiple of $100,000 or must equal the remaining Availability, and the aggregate amount of all Revolving Loans in the case any Borrowing of Eurodollar Loans, Loans must be greater than or equal to $1,000,000 3,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 1,000,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 ten Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Assignment and Assumption (Berry Petroleum Co)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender severally agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, including, without limitation, Citibank LC Loans made pursuant to and subject to Section 2.7(B), provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, other than the Citibank LC Loan, the aggregate principal amount of outstanding Loans will not exceed the Maximum Loan Amount, and (c) after giving effect to such Loans, the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base determined as of the date on which the requested Loans are to be made, provided further that, at all times prior to the termination of the Salomon Facility and all Salomon Guaranty Exposure and the payment in full of all Salomon Obligations, after giving effect to such Loans, the Facility Usage plus the Salomon Guaranty Exposure does not exceed the sum of (A) the Borrowing Base determined as of the date on which the requested Loans are to be made and (B) the Over-Advance Facility on such date. Notwithstanding anything to the contrary contained in this Section 2.1 or elsewhere in this Agreement, so long as no Default has occurred and is continuing, Borrower shall have the Aggregate Commitment then ability to request Loans (and each Lender hereby agrees to make such Loans in effectaccordance with its Percentage Share and as part of the same Borrowing) in an amount such that, after giving effect to such Loans, the Facility Usage shall exceed the Borrowing Base (determined as of the date on which the requested Loans are to be made) by an aggregate principal amount of up to the Over-Advance Facility (such outstanding Loans in excess of the Borrowing Base, the "Over-Advance Loans"); provided that at no time shall the Facility Usage exceed the Maximum Facility Amount. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 100,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 five Borrowings of Eurodollar LIBOR Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, other than the Citibank LC Loan, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the last day of the Commitment Period. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow hereunder. The Citibank LC Loan shall bear interest at the Citibank LC Loan Rate and shall be immediately payable upon the making of any draft or demand for payment by the beneficiary of the Citibank Letter of Credit.

Appears in 1 contract

Samples: Credit Agreement (Genesis Energy Lp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the least of (a) the Aggregate Maximum Credit Amount, (b) the Borrowing Base, and (c) the Aggregate Elected Commitment Amount, in each case, then in effect and the sum of the outstanding principal amount of such Lender’s Loans and its LC Obligations does not exceed the lesser of its Applicable Percentage of the Borrowing Base or the Aggregate Commitment then in effectand its Elected Commitment. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b2.11(b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall may, at the option and upon the request of a Lender, be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note.

Appears in 1 contract

Samples: Credit Agreement (Remora Royalties, Inc.)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Revolving Lender agrees agrees, severally and not jointly, to make loans Revolving Loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s the request of Borrower from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Revolving Loans of the same Type made on the same day shall be made by Revolving Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and ; (b) after giving effect to such Revolving Loans, the Revolving Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect; and (c) after giving effect to such Revolving Loans, the aggregate amount of all outstanding Revolving Loans and outstanding Matured LC Obligations shall not exceed the Borrowing Base. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 100,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Borrowing Base. The obligation of Borrower may have no to repay to each Revolving Lender the aggregate amount of all Revolving Loans made by such Revolving Lender, together with interest accruing in connection therewith, shall be evidenced by one or more than 5 Borrowings promissory notes made by Borrower payable to the order of Eurodollar Loans outstanding such Revolving Lender in the principal amount of the Revolving Loan Commitment of the applicable Revolving Lender, substantially in the form of Exhibit 2.1(b) (each a “Revolving Note” and, collectively, the “Revolving Notes”). The amount of principal owing on any Revolving Note at any timegiven time shall be the aggregate amount of all Revolving Loans theretofore made by such Revolving Lender minus all payments of principal theretofore received by such Revolving Lender on such Revolving Note. Interest on each Loan Revolving Note shall accrue and be due and payable as provided herein. Each Loan Revolving Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note.

Appears in 1 contract

Samples: Credit Agreement (Comfort Systems Usa Inc)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving loans, the aggregate principal amount of outstanding Loans will not exceed the Maximum Loan Amount, and (c) after giving effect to such Loans, the Facility Usage does not exceed the lesser Borrowing Base determined as of the Borrowing Base or date on which the Aggregate Commitment then in effectrequested Loans are to be made. The aggregate principal amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) each Loan in any Borrowing must shall not be greater less than or equal to (a) $100,000 and shall be in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple multiples of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 five Borrowings of Eurodollar LIBOR Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the last day of the Commitment Period. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Genesis Energy Lp)

Commitments to Lend; Notes. Subject to the terms and -------------------------- conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser Commitment determined as of the Borrowing Base or date on which the Aggregate Commitment then in effectrequested Loans are to be made and (c) after giving effect to such Loans the Loans by each Lender plus the existing LC Obligations of such Lender does not exceed such Lender's Commitment. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 2,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder250,000. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow under this Section 2.1. Borrower may have no more than seven Borrowings of LIBOR Loans outstanding at any time.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans Loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage aggregate outstanding principal amount of the Loans does not exceed the lesser Commitment determined as of the Borrowing Base or date on which the Aggregate Commitment then in effectrequested Loans are to be made, and (c) after giving effect to such Loans the Loans by each Lender does not exceed such Lender’s Commitment. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 2,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder250,000. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such LenderLender to Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender to Borrower minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow under this Section 2.1. Borrower may have no more than seven Borrowings of LIBOR Loans outstanding at any time. All payments of principal and interest on the Loans made pursuant to this Section 2.1 shall be made in Dollars.

Appears in 1 contract

Samples: 364 Day Credit Agreement (Plains All American Pipeline Lp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans Loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 3.4, 3.5 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage Total Outstanding Amount does not exceed the lesser Total Committed Amount determined as of the Borrowing Base or date on which the Aggregate Commitment then in effectrequested Loans are to be made, and (c) after giving effect to such Loans, the Outstanding Amount of Loans by each Lender does not exceed such Lender’s Commitment. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder1,000,000. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such LenderLender to Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender to Borrower minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow under this Section 2.1. Borrower may have no more than seven Borrowings of Eurodollar Loans outstanding at any time. All payments of principal and interest on the Loans made pursuant to this Section 2.1 shall be made in Dollars.

Appears in 1 contract

Samples: Assignment and Assumption (Plains All American Pipeline Lp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b2.11(b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, 500,000 or (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, 100,000 or (c) must equal the remaining Unused Availabilityavailability under the Aggregate Commitment. Borrower may have no more than 5 eight (8) Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow Loans hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall may, at the option and upon the request of a Lender, be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note.

Appears in 1 contract

Samples: Credit Agreement (Magnum Hunter Resources Corp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections Section 3.3, Section 3.4 and Section 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser of Aggregate Commitment or the Borrowing Base or determined as of the Aggregate Commitment then in effectdate on which the requested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing of Base Rate Loans must be greater than or equal to (a) $500,000 or a higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base, and the aggregate amount of all Loans in the case any Borrowing of Eurodollar Loans, Loans must be greater than or equal to $1,000,000 3,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 1,000,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Borrowing Base. Borrower may have no more than 5 ten Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Berry Petroleum Co)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender Bank agrees to make loans to Borrower (herein called such Lender’s “Revolving Bank's 'Loans') upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Banks are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, (b) the sum of (i) the aggregate amount of such Bank's Loans outstanding at any time plus (ii) the Maximum Drawing Amount for which such Bank is liable to purchase participations under Section 9.5, plus (iii) the Matured LC Obligations which have been funded by such Bank under such section, does not exceed such Bank's Percentage Share of the Borrowing Base determined as of the date on which the requested Loan is to be made, and (bc) after giving effect to such Revolving Loans, the Facility Usage aggregate amount of all Loans plus all LC Obligations does not exceed the lesser Borrowing Base determined as of the Borrowing Base or date on which the Aggregate Commitment then in effectrequested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Borrowing Base. Borrower may have no more than 5 six Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender Bank the aggregate amount of all Loans made by such LenderBank, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Bank's "Note") made by Borrower payable to the order of such Lender or its registered assigns Bank in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Bank's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender Bank minus all payments of principal theretofore received by such Lender Bank on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein, with Eurodollar Loans bearing interest at the Eurodollar Rate and Base Rate Loans bearing interest at the Base Rate (subject to the applicability of the Late Payment Rate and limited by the provisions of Section 9.8). Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. It is expressly understood that Banks' commitment to make Loans is determined only by reference to the Borrowing Base from time to time in effect, and the aggregate amount of the Notes and the amount specified in the Security Documents are specified at a greater amount only for the convenience of the parties to avoid the necessity of preparing and recording supplements to the Security Documents.

Appears in 1 contract

Samples: Credit Agreement (Inland Resources Inc)

Commitments to Lend; Notes. Subject to the terms and conditions hereofset forth herein, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, ; provided that (a) subject to Sections 3.3, 3.4 2.16 and 3.62.19, Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Pro Rata Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)2.12) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 100,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 100,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note.

Appears in 1 contract

Samples: Credit Agreement

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser Borrowing Base determined as of the Borrowing Base or date on which the Aggregate Commitment then in effectrequested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Borrowing Base. Borrower may have no more than 5 eight (8) Borrowings of Eurodollar Fixed Rate Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Hecla Mining Co/De/)

Commitments to Lend; Notes. Subject to the terms and conditions hereofset forth herein, each Lender agrees to make loans to the Borrower (herein called such LenderLxxxxx’s “Revolving Loans”) upon the Borrower’s request from time to time during the Commitment Period, ; provided that (a) subject to Sections 3.3, 3.4 Section 2.16 and 3.6Section 2.19, Loans of the same Type shall be made by the Lenders in accordance with their respective Applicable Percentages Pro Rata Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Revolving of the Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)2.12) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 100,000.00 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 100,000.00 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, herein and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, the Borrower may borrow, repay, and reborrow hereunder. The obligation of the Borrower to repay to each Lender the aggregate amount of all of the Loans made by such Lender, together with interest accruing in connection therewith, shall shall, at the request of such Lender, be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by the Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all of the Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note.

Appears in 1 contract

Samples: Credit Agreement (Kolibri Global Energy Inc.)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser Borrowing Base in effect as of the date on which the requested Loans are to be made and (c) after giving effect to such Loans, the outstanding principal amount of each Lender's Loans, plus such Lender's Percentage Share of LC Obligations does not exceed such Lender's Percentage Share of the Borrowing Base or in effect as of the Aggregate Commitment then in effectdate on which the requested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 2,500,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Borrowing Base. Borrower may have no more than 5 five Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein, with Eurodollar Loans bearing interest at the Eurodollar Rate plus the Eurodollar Margin and Base Rate Loans bearing interest at the Base Rate plus the Base Rate Margin (subject to the applicability of the Default Rate and limited by the provisions of Section 10.8). Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder, provided that on the last day of the Commitment Period, unless sooner paid as provided herein, all Loans shall be repaid in full.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Energy Corp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser Borrowing Base determined as of the Borrowing Base or date on which the Aggregate Commitment then in effectrequested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 5,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Borrowing Base. Borrower may have no more than 5 six Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Westport Resources Corp)

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Commitments to Lend; Notes. Subject to the terms and -------------------------- conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving loans, the aggregate principal amount of outstanding Loans will not exceed the Maximum Loan Amount, and (c) after giving effect to such Loans, the Dollar Equivalent of the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base or determined as of the Aggregate Commitment then in effectdate on which the requested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 2,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability250,000. Borrower may have no more than 5 five Borrowings of Eurodollar LIBOR Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the last day of the Commitment Period. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser Borrowing Base determined as of the Borrowing Base or date on which the Aggregate Commitment then in effectrequested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in $100,000 or must equal the case remaining availability under the Borrowing Base. Borrower may have no more than five Borrowings of Eurodollar Loans, Loans outstanding at any time and the amount of each Eurodollar Loan must equal $1,000,000 100,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder50,000. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein, with Eurodollar Loans bearing interest at the Eurodollar Rate and Base Rate Loans bearing interest at the Base Rate (subject to the applicability of the Default Rate and limited by the provisions of Section 10.8). Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (North Coast Energy Inc / De/)

Commitments to Lend; Notes. (a) Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Revolver Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Revolver Percentage and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, (i) the Facility Usage does Total Outstandings do not exceed the lesser of the Borrowing Base or and (ii) the Total Revolver Outstandings do not exceed the Aggregate Commitment Revolver Commitments then in effect. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The aggregate amount of all Loans (other than Loans made pursuant to Section 2.13(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. Revolver Loans may be Base Rate Loans or Eurodollar Loans, as further provided herein. The obligation of Borrower to repay to each Lender the aggregate amount of all Revolver Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Revolver Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A A-1 with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note.

Appears in 1 contract

Samples: Credit Agreement (Energy Partners LTD)

Commitments to Lend; Notes. Subject to the terms and -------------------------- conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's 'Loans') upon Borrower’s 's request from time to time during until the Commitment PeriodMaturity Date, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, (b) the sum of (i) the aggregate amount of such Lender's Loans outstanding at any time plus (ii) the Maximum Drawing Amount for which such Lender has purchased or is liable to purchase participations under Section 2.12, plus (iii) the Matured LC Obligations which have been funded by such Lender under such section, does not exceed such Lender's Percentage Share of the Borrowing Base determined as of the date on which the requested Loan is to be made, and (bc) after giving effect to such Revolving Loans, the Facility Usage aggregate amount of all Loans plus all LC Obligations does not exceed the lesser Borrowing Base determined as of the Borrowing Base or date on which the Aggregate Commitment then in effectrequested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Borrowing Base. Borrower may have no more than 5 six Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein, with Eurodollar Loans bearing interest at the Adjusted Eurodollar Rate and Base Rate Loans bearing interest at the Adjusted Base Rate (subject to the applicability of the Default Rate and limited by the provisions of Section 10.8). Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. It is expressly understood that Lenders' commitment to make Loans is determined only by reference to the Borrowing Base from time to time in effect, and the aggregate amount of the Notes and the amount specified in the Security Documents are specified at a greater amount only for the convenience of the parties to avoid the necessity of preparing and recording supplements to the Security Documents.

Appears in 1 contract

Samples: Credit Agreement (Inland Resources Inc)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during prior to the Commitment PeriodMaturity Date, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage aggregate outstanding amount of Loans does not exceed the lesser Borrowing Base determined as of the Borrowing Base or date on which the Aggregate Commitment then in effectrequested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on availability under the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunderBorrowing Base. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Specialty Laboratories)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections Section 3.3, 3.4 Section 3.4, and Section 3.6, all Lenders are requested to make Revolving Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, Loans (i) the sum of the Facility Usage and the principal amount of SG Obligations then outstanding does not exceed (ii) the lesser of the Aggregate Commitments or the Borrowing Base or determined as of the Aggregate Commitment then in effectdate on which the requested Revolving Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing of Base Rate Loans must be greater than or equal to (a) $500,000 or a higher integral multiple of $100,000 or must equal the remaining Availability, and the aggregate amount of all Revolving Loans in the case any Borrowing of Eurodollar Loans, Loans must be greater than or equal to $1,000,000 3,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 1,000,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 ten Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Berry Petroleum Co)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser Borrowing Base determined as of the Borrowing Base date on which the requested Loans are to be made or the Aggregate Commitment then in effectCommitment. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing of ABR Loans must be greater than or equal to $500,000 (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Loans in the case any Borrowing of Base Rate Loans, Eurodollar Loans must be greater than or equal to $500,000 or (any higher integral multiple of $100,000, ) or (c) must equal the remaining Unused Availabilityavailability under the Borrowing Base. Borrower may have no more than 5 three Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein, with Eurodollar Loans bearing interest at the Eurodollar Rate and ABR Loans bearing interest at the Alternate Base Rate (subject to the applicability of the Default Rate and limited by the provisions of Section 10.9). Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (W&t Offshore Inc)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender severally agrees to make loans to Borrower on the date hereof (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (ai) subject to Sections 3.32.3, 3.4 2.4 and 3.62.5, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (bii) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Revolving Loans (other than Revolving does not exceed $280,000,000. The obligation of Borrower to repay to each Lender the aggregate amount of the Loans made pursuant by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender's "Note") made by Borrower payable to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) the order of such Lender in the case form of Eurodollar Loans, $1,000,000 or Exhibit A with appropriate insertions. The amount of principal owing on any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding Lender's Note at any timegiven time shall be the aggregate amount of the Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Loan Note shall accrue and be due and payable as provided hereinherein and therein. Each Loan Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunderLoans under this Agreement during the Commitment Period. The obligation Borrower may have no more than ten borrowings of Borrower to repay to each Lender the aggregate amount of all Eurodollar Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note outstanding at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Notetime.

Appears in 1 contract

Samples: Credit Agreement (Questar Market Resources Inc)

Commitments to Lend; Notes. Subject to the terms and -------------------------- conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the ----- Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser Borrowing Base determined as of the Borrowing Base or date on which the Aggregate requested Loans are to be made, and (c) after giving effect to such Loans, the Loans by each Lender plus the existing LC Obligations of such Lender does not exceed such Lender's Commitment then in effectAmount. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Borrowing Base. Borrower may have no more than 5 five Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Key Production Co Inc)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans Loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage aggregate outstanding principal amount of the Loans does not exceed the lesser Commitment determined as of the Borrowing Base or date on which the Aggregate Commitment then in effectrequested Loans are to be made, and (c) after giving effect to such Loans, the Loans by each Lender does not exceed such Lender's Commitment. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 2,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder250,000. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such LenderLender to Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender to Borrower minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow under this Section 2.1. Borrower may have no more than seven Borrowings of LIBOR Loans outstanding at any time. All payments of principal and interest on the Loans shall be made in Dollars.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Revolving Lender agrees agrees, severally and not jointly, to make loans Revolving Loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s the request of Borrower from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Revolving Loans of the same Type made on the same day shall be made by Revolving Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, ; and (b) after giving effect to such Revolving Loans, the Revolving Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Aggregate Commitment. The obligation of Borrower may have no to repay to each Revolving Lender the aggregate amount of all Revolving Loans made by such Revolving Lender, together with interest accruing in connection therewith, shall be evidenced by one or more than 5 Borrowings promissory notes made by Borrower payable to the order of Eurodollar Loans outstanding such Revolving Lender in the principal amount of the Revolving Loan Commitment of the applicable Revolving Lender, substantially in the form of Exhibit 2.1 (each a “Revolving Note” and, collectively, the “Revolving Notes”). The amount of principal owing on any Revolving Note at any timegiven time shall be the aggregate amount of all Revolving Loans theretofore made by such Revolving Lender minus all payments of principal theretofore received by such Revolving Lender on such Revolving Note. Interest on each Loan Revolving Note shall accrue and be due and payable as provided herein. Each Loan Revolving Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow Revolving Loans hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note.

Appears in 1 contract

Samples: Credit Agreement (Comfort Systems Usa Inc)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving loans, the aggregate principal amount of outstanding Loans will not exceed $40,000,000, (c) after giving effect to such Loans, the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base or determined as of the Aggregate Commitment then in effectdate on which the requested Loans are to be made and (d) such Loans can be incurred pursuant to the Permitted Debt Limit at the time the requested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 2,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability250,000. Borrower may have no more than 5 five Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the last day of the Commitment Period. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Plains Resources Inc)

Commitments to Lend; Notes. Subject to the terms and -------------------------- conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving loans, the aggregate principal amount of outstanding Loans will not exceed the Maximum Loan Amount, and (c) after giving effect to such Loans, the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base or determined as of the Aggregate Commitment then in effectdate on which the requested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 2,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability250,000. Borrower may have no more than 5 five Borrowings of Eurodollar LIBOR Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the last day of the Commitment Period. Subject to the terms and conditions of this Agreement, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans Loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections Section 3.3, 3.4 Section 3.4, and Section 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, Loans the Facility Usage then outstanding does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effectCommitment. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing of Base Rate Loans must be greater than or equal to (a) $500,000 or a higher integral multiple of $100,000 or must equal the remaining Availability, and the aggregate amount of all Loans in the case any Borrowing of Eurodollar Loans, Loans must be greater than or equal to $1,000,000 3,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 1,000,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 ten Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Berry Petroleum Co)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans a Loan on the Initial Funding Date to Borrower (herein called such Lender’s an Revolving LoansInitial Loan) ), and a single additional Loan on or after the Initial Funding Date (an “Additional Loan”), in each case upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, when made, do not exceed the Facility Usage Total Committed Amount determined as of the date on which the requested Loans are to be made, (c) each such Lender’s Loan, when made, does not exceed such Lender’s Commitment, and (d) the lesser aggregate amount of the Borrowing Base or the Aggregate Commitment then in effectAdditional Loans shall not exceed $250,000,000. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability. Borrower may have no more than 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder1,000,000. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such LenderLender to Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender to Borrower minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein. Each Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Borrower may not reborrow, in whole or part, the repaid portion of any Loans made under this Section 2.1. Borrower may have no more than seven Borrowings of Eurodollar Loans outstanding at any time. All payments of principal and interest on the Loans made pursuant to this Section 2.1 shall be made in Dollars.

Appears in 1 contract

Samples: Day Credit Agreement (Plains All American Pipeline Lp)

Commitments to Lend; Notes. (a) Subject to the terms and conditions hereof, each Revolving Lender agrees agrees, severally and not jointly, to make loans Revolving Loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s the request of Borrower from time to time during the Commitment Period, ; provided that (a) subject to Sections 3.3, 3.4 and 3.6, Revolving Loans of the same Type made on the same day shall be made by Revolving Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, ; and (b) after giving effect to such Revolving Loans, the Revolving Facility Usage does shall not exceed the lesser of the Borrowing Base or the Aggregate Revolving Loan Commitment then in effect. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Aggregate Revolving Loan Commitment. The obligation of Borrower may have no more than 5 Borrowings to repay to each Revolving Lender the aggregate amount of Eurodollar all Revolving Loans outstanding made by such Revolving Lender, together with interest accruing in connection therewith, may, at the request of such Revolving Lender, be evidenced by a promissory note made by Borrower payable to the order of such Revolving Lender in the principal amount of the Revolving Loan Commitment of the applicable Revolving Lender, substantially in the form of Exhibit 2.1(a) (each a “Revolving Note” and, collectively, the “Revolving Notes”). The amount of principal owing on any Revolving Note at any timegiven time shall be the aggregate amount of all Revolving Loans theretofore made by such Revolving Lender minus all payments of principal theretofore received by such Revolving Lender on such Revolving Note. Interest on each Revolving Loan shall accrue and be due and payable as provided herein. Each Revolving Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow Revolving Loans hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note.

Appears in 1 contract

Samples: Credit Agreement (Comfort Systems Usa Inc)

Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving 's "Loans") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Percentages Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser Borrowing Base in effect as of the date on which the requested Loans are to be made, (c) after giving effect to such Loans, the Facility Usage does not exceed the Senior Debt Limit in effect as of the date on which the requested Loans are to be made, and (d) after giving effect to such Loans, the outstanding principal amount of each Lender's Loans, plus such Lender's Percentage Share of LC Obligations does not exceed such Lender's Percentage Share of the Borrowing Base or in effect as of the Aggregate Commitment then in effectdate on which the requested Loans are to be made. The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 2,500,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availabilityavailability under the Borrowing Base. Borrower may have no more than 5 five Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Revolving 's "Note") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. It is expressly understood that Lenders' commitment to make Loans is determined only by reference to the Borrowing Base from time to time in effect, and the aggregate face amount of the Notes and the amount specified in the Security Documents are specified at a greater amount only for the convenience of the parties to avoid the necessity of preparing and recording supplements to the Security Documents. The amount of principal owing on any Lender’s Revolving 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein and therein, with Eurodollar Loans bearing interest at the Eurodollar Rate and Base Rate Loans bearing interest at the Base Rate (subject to the applicability of the Default Rate and limited by the provisions of Section 10.7). On the last day of the Commitment Period, unless sooner paid as provided herein, all Loans shall be paid in full. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Energy Corp)

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