Common use of Deemed Loans Clause in Contracts

Deemed Loans. Notwithstanding any provision contained herein to the contrary, and in addition to, and not in limitation of, any of the other rights or remedies of the Agent and the Lenders set forth herein, at the option and direction of Required Lenders, Agent, in order to facilitate timely payment hereunder of all Obligations in respect of (I) payments of interest due on any Loans, (II) payments of principal due on the Term Loans, (III) payments of cash, fees, expenses and other Obligations due and payable by Borrowers to the Loan Parties hereunder or under any of the other Loan Documents and (IV) payments by Agent of any amount due and payable under any Depositary Account Agreement or any other agreement entered into by any Lender Party in connection with this Agreement (including, without limitation, any amount resulting from the return, dishonor or other non-payment of items deposited with the Agent or any Depository bank by or on behalf of Borrowers), then, whether or not there is sufficient Borrowing Base availability, Borrowers shall be deemed automatically to have made a request for, and upon such payment by the Lenders shall be deemed to have made, a Base Rate Revolving Loan, in the full amount of such payment. Borrowers acknowledge that such Revolving Loan may cause a Borrower to exceed Borrower's Borrowing Base, in which event Borrowers shall be obligated to immediately make a prepayment pursuant to Section 6.2.2.

Deemed Loans. Notwithstanding any provision contained herein to the contrary, and in addition to, and not in limitation of, any of the other rights or remedies of the Agent and the Lenders Lender set forth herein, including, without limitation, pursuant to SECTION 7.4, at the sole option and direction of Required Lenders, AgentLender, in order to facilitate timely payment hereunder of all Obligations Liabilities in respect of (Ii) payments of interest due on any Loans, Loans and (II) payments of principal due on the Term Loans, (IIIii) payments of cash, fees, expenses and other Obligations Liabilities due and payable by Borrowers to the Loan Parties Lender hereunder or under any of the other Loan Related Documents and (IViii) payments by Agent Lender of any amount due and payable under any the respective Depositary Account Agreement Agreements or any other agreement entered into by any Lender Party and the Domestic Depositary Account Bank or Canadian Depositary Account Bank in connection with this Agreement (including, without limitation, any amount resulting from the return, dishonor or other non-payment of items deposited with the Agent or any Depository bank Depositary Account Bank by or on behalf of Borrowers), then, whether or not there is sufficient Borrowing Base availabilityAvailability under the Revolving Commitment, Borrowers shall be deemed automatically to have made a request for, and upon such payment by the Lenders Lender shall be deemed to have made, a Base Prime Rate Revolving Loan, in the full amount of such payment. Borrowers acknowledge that such Revolving Loan may cause a Borrower Borrowers to exceed Borrower's Borrowing Basehave exceeded the Revolving Commitment, in which event Borrowers shall be obligated to immediately make a prepayment pursuant to Section 6.2.2SECTION 2.6(b).

Deemed Loans. Notwithstanding any provision contained herein to the contrary, and in addition to, and not in limitation of, any of the other rights or remedies of the Agent and the Lenders set forth herein, including, without limitation, pursuant to Section 7.4, at the sole option and direction of Required Lenders, Agent, in order to facilitate timely payment hereunder of all Obligations Liabilities in respect of (Ii) payments of interest due on any Loans, (IIii) payments of principal due on the Term Loans, (IIIiii) payments of cash, fees, expenses and other Obligations Liabilities due and payable by Borrowers Borrower to Agent and the Loan Parties Lenders hereunder or under any of the other Loan Related Documents and (IViv) payments by Agent and the Lenders of any amount due and payable under any Depositary Account the Bank Agency Agreement or any other agreement entered into by any Lender Party one or more of Agent and the Lenders and Master Account Bank in connection with this Agreement (including, without limitation, any amount resulting from the return, dishonor or other non-payment of items deposited with the Agent or any Depository bank Master Account Bank by or on behalf of BorrowersBorrower), then, whether or not there is sufficient Borrowing Base availabilityAvailability under the Revolving Commitment, Borrowers Borrower shall be deemed automatically to have made a request for, and upon such payment by the Lenders shall be deemed to have made, a Base Prime Rate Revolving Loan, in the full amount of such payment. Borrowers acknowledge Borrower acknowledges that such Revolving Loan may cause a Borrower to exceed Borrower's have exceeded the lesser of the Revolving Commitment or the Borrowing Base, in which event Borrowers Borrower shall be obligated to immediately make a prepayment pursuant to Section 6.2.22.7(b).