Common use of Interests in Loans/Commitments Clause in Contracts

Interests in Loans/Commitments. The percentage interest of BOk and each other Bank that may hereafter become an Assignee or Credit Participant pursuant to Article XI hereof for Commitment amounts in excess of the BOk Commitment or, alternatively, subject to BOk's consent, the Banks extend to Borrowers hereunder Commitments not in excess of $35,000,000 in the aggregate (in addition to the existing $15,000,000 BOk Commitment) to be evidenced by an additional Convertible Note jointly and severally issued hereunder by Borrowers to the order of such additional Bank(s) in form and content similar to the Convertible Note annexed hereto as Exhibit A (in which event such existing $50,000,000 Convertible Note would be reissued concurrently therewith in a correspondingly reduced original principal amount but in no event shall the sum of all Convertible Notes issued hereunder plus the existing Letter of Credit Note exceed $50,000,000 in the aggregate), in the Convertible Loan and Letters of Credit, and the Commitments, shall be computed based on the maximum principal amount for each Bank as follows: Bank Maximum Commitment Amount Percentage Interest ---- ------------------------- ------------------- BOk $15,000,000 30.00% Other Bank(s) hereafter extending Commitment(s) or as Assignee(s) (other than a Credit Participant(s) pursuant to Article XI below) $35,000,000 70.00% ----------- ------- Total $50,000,000 100.00% The foregoing percentage interests, as from time to time in effect and reflected in the Register, are referred to as the Percentage Interest with respect to all or any portion of the Convertible Loan advances and the Commitments. BOk has no obligation to increase the BOk Commitment above either its existing Percentage Interest or the maximum amount of $15,000,000 (including the existing $50,000 Letter of Credit Note) and any future determination of BOk to increase the BOk Commitment shall be in its sole and absolute discretion and subject to BOk obtaining Assignee(s) or Credit Participant(s) under Article XI hereof for all amounts of the Commitments in excess of the existing $15,000,000 BOk Commitment.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Middle Bay Oil Co Inc)

Interests in Loans/Commitments. The percentage interest of BOk BOK and each other Bank that may hereafter become an Assignee or Credit Participant pursuant to Article XI hereof for Commitment Bank Obligation amounts in excess of the BOk BOK Commitment or, alternatively, subject to BOkBOK's consent, the Banks extend extends to Borrowers hereunder Commitments not in excess of $35,000,000 20,000,000 in the aggregate (in addition to the existing $15,000,000 BOk 20,000,000 BOK Commitment) to be evidenced by an additional Convertible Bank Note jointly and severally issued hereunder by Borrowers to the order of such additional Bank(s) Bank in form and content similar to the Convertible Bank Note annexed hereto as Exhibit A (in which event such existing $50,000,000 Convertible 40,000,000 Bank Note would be reissued concurrently therewith in a correspondingly reduced original principal amount but amount) (in no event shall the sum of all Convertible Bank Notes issued hereunder plus the existing Letter of Credit Note exceed $50,000,000 40,000,000 in the aggregate), in the Convertible Loan Revolving Credit Loans and Letters of Credit, and the Commitments, shall be computed based on the maximum principal amount for each Bank as follows: Bank Maximum Commitment Amount Percentage Interest ---- ------------------------- ------------------- BOk $15,000,000 30.00BANK MAXIMUM COMMITMENT AMOUNT PERCENTAGE INTEREST BOK $ 20,000,000 50.00% Other Bank(s) hereafter extending Commitment(s) or as Assignee(s) (other than a Credit Participant(s) pursuant to Article XI below) $35,000,000 70.00$ 20,000,000 50.00% ----------- ------------ ------- Total $50,000,000 $ 40,000,000 100.00% The foregoing percentage interests, as from time to time in effect and reflected in the Register, are referred to as the Percentage Interest with respect to all or any portion of the Convertible Loan advances Revolving Credit Loans and Letters of Credit, and the Commitments. BOk BOK has no obligation to increase the BOk BOK Commitment above either its existing Percentage Interest or the maximum amount of $15,000,000 (including the existing $50,000 Letter of Credit Note) 20,000,000 and any future determination of BOk BOK to increase the BOk BOK Commitment shall be in its sole and absolute discretion and subject to BOk BOK obtaining Assignee(s) or Credit Participant(s) under Article XI hereof for all amounts of the Commitments in excess of the existing $15,000,000 BOk 20,000,000 BOK Commitment.

Appears in 1 contract

Sources: Revolving Credit and Term Loan Agreement (Equity Compression Services Corp)

Interests in Loans/Commitments. The percentage interest Percentage Interest of BOk and each other Bank of the Lenders, as well as each Lender that may hereafter become an Assignee or Credit Participant pursuant to Article XI hereof X hereof, for Commitment amounts the amount of Indebtedness not in excess of the BOk aggregate Revolver Commitment or, alternatively, subject to BOk's consent, the Banks extend to Borrowers hereunder Commitments not in excess of $35,000,000 in the aggregate (in addition to the existing $15,000,000 BOk Commitment) to shall be evidenced by an additional Convertible Note jointly and severally Note(s) issued hereunder by Borrowers Borrower to the order of such additional Bank(s) Lender in form and content similar to the Convertible Note annexed hereto as Exhibit A applicable form of Revolver Notes executed by the existing Lenders (in which event such existing $50,000,000 Convertible Note Revolver Notes of the selling Lender would be reissued concurrently therewith in a correspondingly reduced original principal amount but in amount). In no event shall the sum aggregate outstanding principal amount of all Convertible Revolver Notes issued hereunder plus exceed the existing Letter Revolver Commitment Amount in all of Credit Note exceed $50,000,000 in the aggregate), in the Convertible Loan Revolver Notes and Letters of Credit, Credit and the CommitmentsRevolver Commitment, which shall be computed based on the maximum principal amount for each Bank existing Lender as follows: Bank Maximum Commitment Amount more particularly set forth in Schedule 1 annexed hereto, as modified, supplemented and amended from time to time in connection with Section 2.1. The respective Percentage Interest ---- ------------------------- ------------------- BOk $15,000,000 30.00% Other Bank(s) hereafter extending Commitment(s) or as Assignee(s) (other than a Credit Participant(s) pursuant to Article XI below) $35,000,000 70.00% ----------- ------- Total $50,000,000 100.00% The foregoing percentage interests, Interests of Lenders as from time to time in effect and reflected in the Register, are referred to as the Percentage Interest with respect to all or any portion of the Convertible Loan advances Revolver Loans, the Letters of Credit and the CommitmentsRevolver Commitment. BOk has Lenders signatory hereto have no obligation to increase the BOk Commitment Commitments above either its such Lender's respective existing Percentage Interest or applicable Commitment amount or, in the maximum aggregate for all of the Lenders, to an amount in excess of the aggregate amount of $15,000,000 (including the existing $50,000 Letter of Credit Note) applicable Commitments set forth on Schedule 1, as revised and supplemented from time to time, and any future determination of BOk Lenders to increase the BOk their individual Commitment shall be in its Lenders' sole and absolute discretion and and, if applicable, subject to BOk such Lender obtaining Assignee(s) or Credit Participant(s) under Article XI X hereof for all amounts of the Commitments respective Commitment(s) in excess of the existing $15,000,000 BOk Commitmentmaximum amount of such amount(s).

Appears in 1 contract

Sources: Revolver Loan Agreement (Energy 11, L.P.)

Interests in Loans/Commitments. The percentage interest Percentage Interest of BOk and each other Bank of the Lenders, as well as each Lender that may hereafter become an Assignee or Credit Participant pursuant to Article XI hereof X hereof, for Commitment amounts the amount of Indebtedness not in excess of the BOk aggregate Revolver Commitment or, alternatively, subject to BOk's consent, the Banks extend to Borrowers hereunder Commitments not in excess of $35,000,000 in the aggregate (in addition to the existing $15,000,000 BOk Commitment) to shall be evidenced by an additional Convertible Note jointly and severally Note(s) issued hereunder by Borrowers Borrower to the order of such additional Bank(s) Lender in form and content similar to the Convertible Note annexed hereto as Exhibit A applicable form of Revolver Notes executed by the existing Lenders (in which event such existing $50,000,000 Convertible Note Revolver Notes of the selling Lender would be reissued concurrently therewith in a correspondingly reduced original principal amount but in amount). In no event shall the sum aggregate outstanding principal amount of all Convertible Revolver Notes issued hereunder plus exceed the existing Letter Revolver Commitment Amount in all of Credit Note exceed $50,000,000 in the aggregate), in the Convertible Loan Revolver Notes and Letters of Credit, Credit and the CommitmentsRevolver Commitment, which shall be computed based on the maximum principal amount for each Bank existing Lender as follows: Bank Maximum Commitment Amount more particularly set forth in Schedule 1 annexed hereto, as modified, supplemented and amended from time to time in connection with Section 2.1. The respective Percentage Interest ---- ------------------------- ------------------- BOk $15,000,000 30.00% Other Bank(s) hereafter extending Commitment(s) or as Assignee(s) (other than a Credit Participant(s) pursuant to Article XI below) $35,000,000 70.00% ----------- ------- Total $50,000,000 100.00% The foregoing percentage interests, Interests of Lenders as from time to time in effect and reflected in the Register, are referred to as the Percentage Interest with respect to all or any portion of the Convertible Loan advances Revolver Loans, the Letters of Credit and the CommitmentsRevolver Commitment. BOk has Lenders signatory hereto have no obligation to increase the BOk Commitment Commitments above either its such Lender's respective existing Percentage Interest or applicable Commitment amount or, in the maximum aggregate for all of the Lenders, to an amount in excess of the aggregate amount of $15,000,000 (including the existing $50,000 Letter of Credit Note) applicable Commitments set forth on Schedule I, as revised and supplemented from time to time, and any future determination of BOk Lenders to increase the BOk their individual Commitment shall be in its Lenders' sole and absolute discretion and and, if applicable, subject to BOk such Lender obtaining Assignee(s) or Credit Participant(s) under Article XI X hereof for all amounts of the Commitments respective Commitment(s) in excess of the existing $15,000,000 BOk Commitmentmaximum amount of such amount(s).

Appears in 1 contract

Sources: Revolver Loan Agreement (Energy Resources 12, L.P.)