Hostile Acquisition. None of the proceeds of the sale of any Notes will be used to finance a Hostile Acquisition.
Hostile Acquisition. The Borrower shall not, and shall not permit any Subsidiary to, attempt a Hostile Acquisition without the prior written consent of the Lenders.
Hostile Acquisition. The Borrower shall not utilize whether directly or indirectly Availments to facilitate, assist or participate in a hostile acquisition without the prior written consent of CIBC, which consent may be withheld in CIBC’s sole discretion.
Hostile Acquisition. The Borrower shall not utilize whether directly or indirectly Availments to facilitate, assist or participate in a hostile acquisition without the prior written consent of CIBC which may be withheld in CIBC's sole discretion. BORROWING BASE: Subject to the satisfaction of the Conditions Precedent to Funding, the Credit Facility currently permits draws of up to Cdn. $14,000,000, (the "Borrowing Base") subject to adjustment as herein provided, and will remain in effect until expiration of the Revolving Phase. CIBC will undertake at any time, but not less frequently than semi-annually during the Revolving and Term phase if CIBC so chooses, a review of the Borrower's oil and gas properties evaluated in an independently prepared economic and reserve evaluation report (provided annually) for purposes of redetermining the Borrowing Base applicable to the Facility. To assist in such redetermination, the Borrower will provide to CIBC operating statements and such other technical information with respect to the properties being reviewed as CIBC may request. The next review will occur on or before September 30, 2002. Should CIBC determine at any time that there is a Borrowing Base Shortfall, during both the Revolving Phase and the Term Phase, the Borrower will, within 60 days, use whatever means necessary to reduce its indebtedness under this Financing Commitment by that amount stipulated by CIBC, or alternatively pledge additional security to CIBC sufficient to cover, in CIBC's opinion, such deficiency. While a Borrowing Base Shortfall exists, the Borrower shall: • not request new Availments; • provide CIBC with information needed to determine the Borrower's Available Cash Flow; • dedicate on a monthly basis for repayment of this Financing Commitment such portion of its Available Cash Flow as is required to eliminate the Borrowing Base Shortfall within 60 days from the date CIBC delivers notice to the Borrower of the Borrowing Base Shortfall; and • pay the increased compensation required under the heading "Borrowing Base Rate Shortfall or Event of Default". TOTAL DEBT: To determine Principal Indebtedness, outstanding borrowings in U.S. Dollars will be the Cdn. Dollar Exchange Equivalent thereof. To the extent the Borrower does not have sufficient U.S. Dollar revenue to service the U.S. Dollar borrowings under the Facility such borrowings, in an amount to be determined by CIBC, must be hedged to CIBC's satisfaction acting reasonably. CREDIT FACILITY AVAILABILITY: The...
Hostile Acquisition. [Intentionally omitted.]
Hostile Acquisition. If the Borrower wishes to utilize the Credit or any part thereof to facilitate, either directly, or indirectly through a Subsidiary, a Hostile Acquisition, then:
(b) within 5 Banking Days of being so notified by the Agent, each Lender shall in turn notify the Agent as to whether it shall participate in a Drawdown to be utilized for such Hostile Acquisition (such determination to be made by each Lender in the exercise of its sole discretion having regard to such considerations as it deems appropriate), provided that, if a Lender does not so notify the Agent within such 5 Banking Days, such Lender shall be deemed to have elected to participate in a Drawdown to be utilized for such Hostile Acquisition and the Agent shall then promptly notify the Borrower of each Lender's determination;
(c) if a Lender elects not to participate in a Drawdown for a Hostile Acquisition (a "Non-Participating Lender"), the Drawdown shall be reduced by the Non-Participating Lender's Pro Rata Share thereof. As a result, the allocation among the Lenders of interest and other fees payable by the Borrower hereunder, shall reflect such reduction such that the "Pro Rata Share" of the Lenders shall be adjusted to reflect the amount of principal then funded by each Lender based on the aggregate amount of principal then outstanding after taking into account the amount of the requested Drawdown not funded by the Non- Participating Lenders; except that, notwithstanding the adjustment of the Lender's Pro Rata Share pursuant to this Section 2.9, there shall be no adjustment to the Commitment of each Lender; and
(d) subject to this Section 2.9, subsequent Drawdowns under the Credit shall be funded first by the Non- Participating Lenders, until the "Pro Rata Share" of outstanding Advances under the Credit equal the "Pro Rata Share" of the Lenders existing on the Closing Date.
Hostile Acquisition. No proceeds of any Advance will be used to acquire from any Person any security in a transaction that is hostile from the point of view of such Person and which is subject to Sections 13 and 14 of the Securities Exchange Act of 1934.
Hostile Acquisition. The Company covenants to and in favor of GECC that, so long as GECC owns at least five percent of the then outstanding Class A Common, the Company shall not, nor shall it permit any of its Subsidiaries to, without GECC's prior written consent, engage in any hostile transaction for the control of another company, whether by open market purchases of the capital stock of such company, by offer for the capital stock of such company or by solicitation of proxies or consents of the shareholders of such company.
Hostile Acquisition. 78 7.10 Leverage Ratio...............................................................78 7.11
Hostile Acquisition. The Borrower shall not, and shall not permit any of its Subsidiaries to, make any Acquisition unless: (a) the Acquisition complies with applicable Laws, (b) the board of directors or equivalent governing body of the Person to be so acquired provides written consent or approval of such Acquisition prior to its commencement; and (c) such Acquisition is otherwise permitted hereunder.
