Common use of Initial Borrowing Clause in Contracts

Initial Borrowing. The obligation of each Lender to advance ----------------- the initial Loans hereunder, and of the Issuing Bank to issue the initial Letter of Credit hereunder, on or after the Initial Availability Date is subject to satisfaction of the following conditions precedent: (a) The Administrative Agent shall have received the following all in form and substance reasonably satisfactory to the Administrative Agent and in sufficient number of signed counterparts, where applicable, to provide one for each Lender:

Appears in 2 contracts

Samples: Credit Agreement (Transocean Sedco Forex Inc), 364 Day Credit Agreement (Transocean Sedco Forex Inc)

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Initial Borrowing. The obligation of each Lender to advance ----------------- the initial Loans hereunder, and its portion of the Issuing Bank to issue Term Loan hereunder on the initial Letter of Credit hereunder, on or after the Initial Availability Borrowing Date is subject to the satisfaction of the following requirements and conditions precedent: (a) The Administrative Agent shall have received the following following, all in form and substance reasonably satisfactory to the Administrative Agent and (which shall be evidenced by the making of such Term Loan) all in sufficient number of signed counterparts, where applicable, to provide one for each Lender (except for the Notes, of which only one original shall be signed for each Lender:):

Appears in 1 contract

Samples: Credit Agreement (Transocean Sedco Forex Inc)

Initial Borrowing. The obligation of each Lender to advance ----------------- ------------------ the initial Loans hereunder, and of the Issuing Bank to issue the initial Letter of Credit hereunder, on or after the Initial Availability Date is subject to satisfaction of the following conditions precedent: (a) The Administrative Agent shall have received duly executed counterparts of this Agreement and the following all in form and substance reasonably satisfactory to the Administrative Agent and in sufficient number of signed counterparts, where applicable, to provide one for each Lender:

Appears in 1 contract

Samples: 364 Day Credit Agreement (Transocean Inc)

Initial Borrowing. The obligation of each Lender to ------------------ advance ----------------- the initial Loans hereunder, and of the Issuing Bank to issue the initial Letter of Credit hereunder, on or after the Initial Availability Date is subject to satisfaction of the following conditions precedent: (a) The Administrative Agent shall have received duly executed counterparts of this Agreement (including by facsimile or other electronic means) and the following all in form and substance reasonably satisfactory to the Administrative Agent and Bank of America, N.A., as a Co-Syndication Agent and in sufficient number of signed counterparts, where applicable, to provide one for each Lender:

Appears in 1 contract

Samples: Revolving Credit Agreement (Transocean Inc)

Initial Borrowing. The obligation of each Lender to advance ----------------- the initial Loans hereunder, and of the Issuing Bank to issue the initial Letter of Credit hereunder, on or after the Initial Availability Date is subject to satisfaction of the following conditions precedent: (a) The Administrative Agent shall have received duly executed counterparts of this Agreement (including by facsimile or other electronic means) and the following all in form and substance reasonably satisfactory to the Administrative Agent and Bank of America, N.A., as a Syndication Agent and in sufficient number of signed counterparts, where applicable, to provide one for each Lender:

Appears in 1 contract

Samples: Revolving Credit Agreement (Transocean Inc)

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Initial Borrowing. The obligation of each Lender to advance ----------------- the initial Term Loans hereunder, and of the Issuing Bank to issue the initial Letter of Credit hereunder, hereunder on or after the Initial Availability Date is subject to satisfaction of the following conditions precedent: (a) The Administrative Agent shall have received duly executed counterparts of this Agreement (including by facsimile or other electronic means), a Note duly completed and executed by the following Borrower for each Lender requesting a Note to evidence its Term Loans, and the following, all in form and substance reasonably satisfactory to the Administrative Agent and in sufficient number of signed counterparts, where applicable, to provide one for each Lender:

Appears in 1 contract

Samples: Term Credit Agreement (Transocean Inc)

Initial Borrowing. The obligation of each Lender to advance ----------------- the initial Loans hereunder, and of the Issuing Bank to issue the initial Letter of Credit hereunder, on or after the Initial Availability Date is subject to satisfaction of the following conditions precedent: (a) The Administrative Agent shall have received the following all in form and substance reasonably satisfactory to the Administrative Agent and in sufficient number of signed counterparts, where applicable, to provide one for each Lender:

Appears in 1 contract

Samples: 364 Day Credit Agreement (Transocean Sedco Forex Inc)

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