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. None of the proceeds of the sale of any Notes will be used to finance a Hostile Acquisition.
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. 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. [Intentionally omitted.]
Hostile Acquisition. Unless waived in writing by the Purchaser, ------------------- Mendocino shall not engage in any unsolicited transaction for the control of another company which is not approved by the board of directors of such 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. 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. 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:
Hostile Acquisition. 78 7.10 Leverage Ratio...............................................................78 7.11
