Facility Loans. The Canadian Borrower authorizes the Administrative Agent and the Swingline Lender to charge the Canadian Borrower’s account with the Administrative Agent (up to the amount available in such account) in order to pay immediately to the Swingline Lender the amount of such Refunded Swingline Loans to the extent amounts received from the Revolving R-2 Facility Lenders, including amounts deemed to be received from the Swingline Lender, are not sufficient to repay in full such Refunded Swingline Loans. If any portion of any such amount paid (or deemed to be paid) to the Swingline Lender should be recovered by or on behalf of the Canadian Borrower from the Swingline Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Revolving R-2 Facility Lenders in the manner contemplated by Section 2.19.
Facility Loans. Subject to the terms and conditions set forth in the Third Amendment, each Term A-3 Facility Lender severally agrees to make a term loan in Dollars to the Borrower on the Third Amendment Effective Date in the principal amount equal to its Term A-3 Facility Commitment on the Third Amendment Effective Date and consents to each amendment, waiver and acknowledgement effected by the Third Amendment. The Borrower shall prepay in full all existing Term A Facility Loans (excluding, however, any Term A Facility Loans held on the Third Amendment Effective Date by Bank of America, N.A., it being understood that Bank of America, N.A. has waived its right to such prepayment (in such capacity, the “Declining Lender”)) in an aggregate amount equal to the aggregate gross proceeds of the Term A-3 Facility Loans, concurrently with the receipt thereof in accordance with Section 2.09 and Section 4.02
Facility Loans. Section 2.7(e) of the Credit Agreement, Application of Payments, is hereby modified and amended by deleting the last sentence of Section 2.7(e) in its entirety and by substituting the following in lieu thereof: "Notwithstanding the foregoing, in the case of (x) the amount of any prepayment required to be made pursuant to Section 2.7(b) hereof from the Net Cash Proceeds received by the Borrower and its Designated Subsidiaries in connection with sale, transfer or other disposition of any Specified Reduction Assets or (y) the amount of any prepayment required to be made pursuant to Section 2.7(c) hereof in connection with the issuance of any Specified High-Yield Securities, the amount of any such prepayment shall be applied to permanently reduce, on a pro rata basis, the outstanding principal amount of the Tranche A Loans, the Tranche B Loans and, to the extent then outstanding, any Incremental Facility Loans which are term loans, in each case with the amount allocated to the Tranche A Loans being applied to reduce the remaining scheduled installments of principal due under the Tranche A Loans as set forth in Section 2.6(b) hereof in the direct order of maturity, and the amount allocated to the Tranche B Loans being applied to reduce the remaining scheduled installments of principal due under the Tranche B Loans as set forth in Section 2.6(c) hereof in the direct order of maturity, and the amount the amount allocated to the Incremental Facility Loans being applied to reduce the remaining scheduled installments of principal due thereunder in the direct order of maturity."
Facility Loans. (a) US Facility Loans.
(i) During the US Facility Commitment Period, subject to the terms and conditions hereof, each Lender holding a US Facility Commitment agrees to make US Facility Loans to Company in the aggregate amount up to but not exceeding such Lender's US Facility Commitment; provided, after giving effect to the making of any US Facility Loan, in no event shall the Total Utilization of US Facility Commitments exceed the US Facility Commitments then in effect. Amounts borrowed pursuant to this Section 2.2(a) may be repaid and reborrowed during the US Facility Commitment Period. Each Lender's US Facility Commitment shall expire on the US Facility Commitment Termination Date and all US Facility Loans and all other amounts owed hereunder with respect to the US Facility Loans and the US Facility Commitments shall be paid in full no later than such date.
(ii) Except pursuant to Section 2.3(a)(iii), US Facility Loans that are Base Rate Loans shall be made in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount, and US Facility Loans that are Eurodollar Rate Loans shall be in an aggregate minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of that amount.
(iii) Whenever Company desires that Lenders make US Facility Loans, Company shall deliver to US Facility Agent a fully executed and delivered Funding Notice no later than 11:00 a.m. (New York City time)
(1) at least three Business Days in advance of the proposed Credit Date in the case of a Eurodollar Rate Loan; and (2) at least one Business Day in advance of the proposed Credit Date in the case of a Base Rate Loan. Except as otherwise provided herein, a Funding Notice for a US Facility Loan that is a Eurodollar Rate Loan shall be irrevocable on and after the related Interest Rate Determination Date, and Company shall be bound to make a borrowing in accordance therewith.
(iv) Notice of receipt of each Funding Notice in respect of US Facility Loans, together with the amount of each US Facility Lender's Pro Rata Share thereof, together with the applicable interest rate, shall be provided by US Facility Agent to each US Facility Lender by telefacsimile with reasonable promptness, but (provided US Facility Agent shall have received such notice by 11:00 a.m. (New York City time), not later than 2:00 p.m. (New York City time) on the same day as US Facility Agent's receipt of such Notice from Company.
(v) Each US Facility Lender shall,...
Facility Loans. (a) Commencing on the date ---------------- hereof to but not on or after the MPSC Closing Date, MPSC agrees, subject to the terms and provisions of this Agreement, to make loans to the Seller (such loans, individually an "X Facility Loan" and collectively the "X Facility Loans"). MPSC shall make X Facility Loans on each Business Day in an aggregate principal amount which
equals (i) the net excess cash balance in the Concentration Account, if positive, (ii) any other amounts transferred to the Seller as of the close of business on each such Business Day and (iii) any Deemed Payments made from time to time by MidCon Consol (prior to the Closing) and by the Seller to MPSC. The Seller shall cause any interest bearing principal balance due to MPSC from MGSC as of the close of business on the last day prior to the date hereof to be deemed to be repaid as of the date of this Agreement, with MPSC deemed to have advanced such amount to the Seller as an X Facility Loan on such date. The X Facility Loans shall, for the period up to the Closing, include a Deemed Payment as at the end of each month and as at the MPSC Closing for all amounts which are Deemed Payments under the Intercompany Cash Management Agreement from MidCon Consol to Oxy Consol for amounts owed by MidCon Consol to MPSC. The Seller promises to repay all X Facility Loans from time to time owing to MPSC in accordance with the terms of this Agreement, and such X Facility Loans shall automatically be repaid by the application against such outstanding amount of any outstanding balance of the Y Facility Loans under the Y Facility. Notwithstanding the foregoing, the Net Outstanding Balance of the X Facility Loans shall be determined after the application of Section 2.4.
Facility Loans. The existing Term A-3 Facility Loans that are not Extending Term A-3 Facility Loans shall retain their existing terms and conditions except as expressly provided in this Fifth Amendment and the Amended Credit Agreement.
Facility Loans. Subject to the terms and conditions of this Agreement, each Lender severally agrees to make Facility Loans under Facility A and Facility B to the Borrower from time to time under the Line of Credit in accordance with the terms of this Agreement. Within the limits set forth herein, the Borrower may borrow from the Lenders hereunder, repay any and all such Facility Loans as hereinafter provided, and with respect to Facility A, reborrow thereunder; provided, however, each Facility Loan under Facility A, subject to availability under the Facility A Borrowing Base Amount, shall be in an amount not less than $250,000.00; and provided, further, that it is agreed and understood that Facility B is NOT a revolving line of credit The Borrower's obligation to repay the Facility Loans (under both Facility A and Facility B) made by the Lenders shall be evidenced by the Notes. Facility Loans under Facility A shall bear interest, at Borrower's option, at the Base Rate plus the Base Rate Margin or the Eurodollar Rate plus the Eurodollar Margin. Facility Loans under Facility B shall bear interest, at Borrower's option at the Base Rate plus a margin amount (expressed as a percentage) as established by the Lenders or the Eurodollar Rate plus a margin amount (expressed as a percentage) as established by the Lenders. The total number of Tranches under the Line of Credit which may be outstanding at any time hereunder shall never exceed five (5) Tranches, whether such Tranches are under Facility A or Facility B, or are Base Rate Loans, Eurodollar Loans, or a combination thereof.
Facility Loans. Subject to the terms and conditions hereof and of the Participation Agreement, each Facility Lender severally agrees, on each Advance Date in accordance with Section 2.2 to make a loan (each, a “Facility Loan”) to the Borrower on each Advance Date as set forth in an Advance Request in an amount equal to such Facility Lender’s Commitment Percentage of each Advance; provided, however, that the aggregate outstanding principal amount of all Facility Loans made by such Facility Lender, shall not exceed such Facility Lender’s Commitment. Notwithstanding the foregoing, each Facility Lender’s commitment to fund Facility Loans under this Section 2.1 shall expire on the Commitment Termination Date, and prior to such date, shall be reduced from time to time as provided in the Participation Agreement and in the other provisions of this Credit Agreement. The Borrower acknowledges and agrees that all proceeds of any Facility Loan will be distributed by the Administrative Agent as described in with Section 3.1(e) of the Participation Agreement, subject to the requirements of Section 5.3 of the Participation Agreement.
Facility Loans. Each B Facility Loan may only be used for the purpose of repaying the Existing Facility and thereafter, for general corporate purposes of the Group.
Facility Loans
