Common use of Lenders’ Commitments Clause in Contracts

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereof, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunder. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunder.

Appears in 4 contracts

Samples: Second Amending Agreement (Fortis Inc.), Credit Agreement (Fortis Inc.), Credit Agreement (Fortis Inc.)

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Lenders’ Commitments. (a) Subject to the terms and conditions hereofof this Agreement, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate principal amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate principal amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4. Limit. (b) All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. . (c) No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder under this Agreement to make available to the Borrower its Pro Rata Share of such credit thereundercredit.

Appears in 4 contracts

Samples: Revolving Credit Facility (Gatos Silver, Inc.), Revolving Credit Facility (Gatos Silver, Inc.), Revolving Credit Facility (Gatos Silver, Inc.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 4 contracts

Samples: Loan Agreement (Royal Gold Inc), Loan Agreement (Silver Wheaton Corp.), Bridge Loan Agreement (Silver Wheaton Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender under the Credit Facility and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 3 contracts

Samples: Credit Agreement (Silvercrest Mines Inc), Credit Agreement (Endeavour Silver Corp), Credit Agreement (Endeavour Silver Corp)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred Facility. Subject to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All terms and conditions hereof, all credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofrelevant credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the a Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 3 contracts

Samples: Loan Agreement (New Gold Inc. /FI), Credit Agreement (New Gold Inc. /FI), Credit Agreement (New Gold Inc. /FI)

Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower under the Credit Facility hereunder from time to time provided that the aggregate amount of credit extended by each relevant Lender under the Credit Facility hereunder shall not at any time exceed the Individual individual Commitment of such Lender Lender. Nothing contained herein or in the other Financing Agreements shall constitute the Lenders as a partnership, and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4indication thereof is hereby expressly denied. All credit requested hereunder other than under the Credit Facility Swingline Facility, shall be made available to the Borrower contemporaneously by all of the relevant Lenders. Each Lender shall provide to the Administrative Agent for the Borrower its Pro Rata Share of each credit in accordance with the terms hereof, whether such credit is extended by way of drawdown, rollover or conversioncredit. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility any Loan nor shall the Individual individual Commitment of any Lender with respect to a particular Loan be increased as a result of any such default of another Lender in extending credit thereunderunder such Loan. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility any Loan shall not relieve any other relevant Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder such Loan.

Appears in 3 contracts

Samples: Second Amended and Restated Loan Agreement (Andersons, Inc.), Loan Agreement (Andersons, Inc.), Loan Agreement (Andersons, Inc.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower Borrowers under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the relevant Lenders. Each Lender shall provide to the relevant Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the relevant Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the such Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 2 contracts

Samples: Credit Agreement (Kinross Gold Corp), Credit Agreement (Kinross Gold Corp)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred Facility. Subject to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All terms and conditions hereof, all credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 2 contracts

Samples: Loan Agreement (Yamana Gold Inc), Loan Agreement (Yamana Gold Inc)

Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with under the terms hereofCredit Facility, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 2 contracts

Samples: First Amending Agreement (Triple Flag Precious Metals Corp.), Loan Agreement (Triple Flag Precious Metals Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender with respect thereto and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any the credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any the credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 2 contracts

Samples: Credit Agreement (Sandstorm Gold LTD), Credit Agreement (Sandstorm Gold LTD)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit Accommodations to the Borrower under the Credit RT Facility from time to time provided that the aggregate amount of credit Accommodations extended by each Lender under the Credit RT Facility shall not at any time exceed the Individual Commitment of such Lender with respect to the RT Facility and further provided that the aggregate amount of credit Accommodations outstanding under the Credit RT Facility shall not at any time exceed the amount of the RT Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit Accommodations requested under the Credit RT Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with Accommodation under the terms hereofRT Facility, whether such credit Accommodation is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit Accommodation under the Credit RT Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit Accommodations thereunder. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit Accommodation under the Credit RT Facility shall not relieve any other relevant Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderAccommodation.

Appears in 2 contracts

Samples: Credit Agreement (CI Financial Corp.), Loan Agreement (CI Financial Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the relevant Borrower under the each Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the either Credit Facility shall not at any time exceed the Individual Commitment of such Lender under such Credit Facility and further provided that the aggregate amount of credit outstanding under the such Credit Facility shall not at any time exceed the amount of the such Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the a particular Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the relevant Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the a particular Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder such Credit Facility. The failure of any Lender to make available to the relevant Borrower its Pro Rata Share of any credit under the a particular Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the such Borrower its Pro Rata Share of such credit thereunderunder such Credit Facility. For certainty, all obligations of each Lender hereunder are its several obligations.

Appears in 2 contracts

Samples: Loan Agreement (4352351 Canada Inc.), Loan Agreement (Lundin Mining CORP)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the relevant Credit Facility from time to time provided that the aggregate principal amount of credit extended by each Lender under the such Credit Facility shall not at any time exceed the Individual Commitment of such Lender with respect thereto and further provided that the aggregate principal amount of credit outstanding under the such Credit Facility shall not at any time exceed the amount of the relevant Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the a Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facilities. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the a Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereundercredit.

Appears in 2 contracts

Samples: Credit Agreement (SilverCrest Metals Inc.), Credit Agreement (Orla Mining Ltd.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender under the Credit Facility and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 2 contracts

Samples: Credit Agreement (Allied Nevada Gold Corp.), Credit Agreement (Allied Nevada Gold Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower relevant Borrowers under the relevant Credit Facility from time to time provided that the aggregate amount of credit extended by each relevant Lender under the relevant Credit Facility shall not at any time exceed the Individual Commitment of such Lender under such Credit Facility and further provided that the aggregate amount of credit outstanding under the such Credit Facility shall not at any time exceed the amount of the such Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the a particular Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the relevant Lenders. Each relevant Lender shall provide to the relevant Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion; provided, however, The Bank of Nova Scotia shall not be obligated, in connection with that portion of any extension of credit to the NRT Borrower under the Scotiabank NRT Facility Individual Commitment - Tranche B that has been participated, to extend credit in excess of the aggregate amount of credit received by The Bank of Nova Scotia in immediately available funds from the relevant participant. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the a particular Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder such Credit Facility. The failure of any relevant Lender to make available to the relevant Borrower its Pro Rata Share of any credit under the a particular Credit Facility shall not relieve any other relevant Lender of its obligation hereunder to make available to the such Borrower its Pro Rata Share of such credit thereunderunder such Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Kinross Gold Corp)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility Borrowers hereunder from time to time time, provided that the aggregate amount of credit extended by each Lender under the each Credit Facility shall not at any time exceed the Individual Commitment of such Lender with respect to such Credit Facility and further provided that the aggregate amount of credit outstanding under any of the Credit Facility Facilities shall not at any time exceed the amount of the such Credit Facility referred to in Section 2.1 2.01 as the same may be reduced pursuant to Section 2.42.04. All credit requested under the a particular Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the LendersLenders who have committed to extend credit under such Credit Facility. Each Lender shall provide to the relevant Borrower its Pro Rata Share of each credit in accordance with the terms hereof, ; whether such credit is extended by way of drawdown, rollover drawdown or conversionrollover. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender with respect to any Credit Facility be increased as a result of any such default of another Lender in extending credit thereunderunder such Credit Facility. The failure of any Lender to make available to the a Borrower its Pro Rata Share of any credit under the any Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the such Borrower its Pro Rata Share of such credit thereunderunder such Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Breakwater Resources LTD)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit at such time. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with under the terms hereofCredit Facility, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderhereunder. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunder.

Appears in 1 contract

Samples: Credit Agreement (Ero Copper Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that (i) the aggregate principal amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that under the Credit Facility, (ii) the aggregate principal amount of credit outstanding under the Credit Facility shall not at any time exceed the Total Commitment Amount, (iii) the aggregate principal amount of credit extended under Tranche One shall not exceed the Credit Facility referred to in Section 2.1 as Tranche One Limit, and (iv) the same may be reduced pursuant to Section 2.4aggregate principal amount of credit extended under Tranche Two shall not exceed the Tranche Two Limit . All credit requested under the Credit Facility Facility, whether under Tranche One or Tranche Two, shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended under Tranche One or Tranche Two or by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Endeavour Silver Corp)

Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower under the relevant Credit Facility from time to time provided that the aggregate amount of credit extended by each relevant Lender under the any Credit Facility shall not at any time exceed the Individual Commitment of such relevant Lender with respect to such Credit Facility and further provided that the aggregate amount of credit outstanding under the such Credit Facility shall not at any time exceed the amount of such Credit Facility. Subject to the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All terms and conditions hereof, all credit requested under the a Credit Facility shall be made available to the Borrower contemporaneously by all of the relevant Lenders. Each relevant Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofrelevant credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the a Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder a Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the a Credit Facility shall not relieve any other relevant Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder such Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Yamana Gold Inc)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereof, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility. For certainty, all obligations of each Lender hereunder are its several obligations.

Appears in 1 contract

Samples: Credit Agreement (Denison Mines Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower relevant Borrowers under the Credit Facility from time to time provided that the aggregate principal amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate principal amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the Credit Facility shall be made available to the Borrower relevant Borrowers contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower relevant Borrowers its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower relevant Borrowers its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower relevant Borrowers its Pro Rata Share of such credit thereundercredit.

Appears in 1 contract

Samples: Credit Agreement (Equinox Gold Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower Borrowers under the Credit Facility from time to time provided that the aggregate principal amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate principal amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the Credit Facility shall be made available to the Borrower Borrowers contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower Borrowers its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower Borrowers its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower Borrowers its Pro Rata Share of such credit thereundercredit.

Appears in 1 contract

Samples: Credit Agreement (Equinox Gold Corp.)

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Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the each Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the either Credit Facility shall not at any time exceed the Individual Commitment of such Lender under such Credit Facility and further provided that the aggregate amount of credit outstanding under the such Credit Facility shall not at any time exceed the amount of the such Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the a particular Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the a particular Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder such Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the a particular Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder such Credit Facility. For certainty, all obligations of each Lender hereunder are its several obligations.

Appears in 1 contract

Samples: Credit Agreement (Yamana Gold Inc)

Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower Borrowers under the relevant Credit Facility from time to time provided that the aggregate amount of credit extended by each relevant Lender under the a particular Credit Facility shall not at any time exceed the Individual Commitment of such Lender with respect to such Credit Facility and further provided that the aggregate amount of credit outstanding under the a particular Credit Facility shall not at any time exceed the amount of the relevant Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the a particular Credit Facility shall be made available to the applicable Borrower contemporaneously by all of the LendersLenders with an Individual Commitment with respect to such Credit Facility. Each relevant Lender shall provide to the Borrower Administrative Agent its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender with respect to a Credit Facility be increased as a result of any such default of another Lender in extending credit thereunderunder such Credit Facility. The failure of any Lender to make available to the a Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the applicable Borrower its Pro Rata Share of such credit thereunderthe credit.

Appears in 1 contract

Samples: Credit Agreement (Anixter International Inc)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility Facilities from time to time provided that the aggregate amount of credit extended by (a) each Gold Loan Facility Lender under the Credit Gold Loan Facility shall not at any time exceed the Individual Gold Loan Facility Commitment of such Lender, (b) each Standby Line Facility Lender under the Standby Line Facility shall not at any time exceed the Individual Standby Line Facility Commitment of such Lender, and further provided that (c) the aggregate amount of credit outstanding under the Credit Gold Loan Facility shall not at any time exceed the amount of the Credit Gold Loan Facility referred to in Section 2.1 as Commitment Amount, and (d) the same may be reduced pursuant to Section 2.4aggregate amount of credit outstanding under the Standby Line Facility shall not at any time exceed the amount of the Standby Line Facility Commitment Amount. All credit requested under the each Credit Facility shall be made available to the Borrower contemporaneously by all of the LendersLenders thereunder. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover drawdown or conversionrollover. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the either Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder a Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the a Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the relevant Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Lake Shore Gold Corp)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover drawdown or conversionrollover. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Lake Shore Gold Corp)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower Borrowers under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the Credit Facility shall be made available to the Borrower Borrowers contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower Borrowers its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. ​ ​ No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower Borrowers its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower Borrowers its Pro Rata Share of such credit thereunder.under the Credit Facility. ​

Appears in 1 contract

Samples: Revolving Facility Credit Agreement (Royal Gold Inc)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower relevant Borrowers under the relevant Credit Facility from time to time provided that the aggregate principal amount of credit extended by each Lender under the such Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate principal amount of credit outstanding under the such Credit Facility shall not at any time exceed the amount of the relevant Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the a Credit Facility shall be made available to the Borrower relevant Borrowers contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower relevant Borrowers its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower relevant Borrowers its Pro Rata Share of any credit under the a Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower relevant Borrowers its Pro Rata Share of such credit thereunder.credit. At all times that two Credit Facilities exist hereunder, each Lender shall maintain Individual Commitments under each of the NRT Facility and the RT Facility in accordance with its Pro Rata Share. 286042.00064/106711224.9 Credit Agreement - Equinox

Appears in 1 contract

Samples: Credit Agreement (Equinox Gold Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate principal amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate principal amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereundercredit.

Appears in 1 contract

Samples: Credit Agreement (Equinox Gold Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower relevant Borrowers under the relevant Credit Facility from time to time provided that the aggregate principal amount of credit extended by each Lender under the such Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate principal amount of credit outstanding under the such Credit Facility shall not at any time exceed the amount of the relevant Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the a Credit Facility shall be made available to the Borrower relevant Borrowers contemporaneously by all of the relevant Lenders. Each relevant Lender shall provide to the Borrower relevant Borrowers its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder a Credit Facility. The failure of any Lender to make available to the Borrower relevant Borrowers its Pro Rata Share of any credit under the a Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower relevant Borrowers its Pro Rata Share of such credit thereundercredit.

Appears in 1 contract

Samples: Credit Agreement (Equinox Gold Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower Borrowers under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the relevant Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the relevant Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the such Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Kinam Gold Inc)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower Borrowers under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred Facility. Subject to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All terms and conditions hereof, all credit requested under the Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the relevant Borrower its Pro Rata Share of each credit in accordance with the terms hereofrelevant credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the a Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the relevant Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (New Gold Inc. /FI)

Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower Borrowers under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the Credit Facility shall be made available to the Borrower Borrowers contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower Borrowers its Pro Rata Share of each credit in accordance with under the terms hereofCredit Facility, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower Borrowers its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower Borrowers its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Loan Agreement (Triple Flag Precious Metals Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower BorrowerBorrowers under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the Credit Facility shall be made available to the Borrower BorrowerBorrowers contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower BorrowerBorrowers its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower BorrowerBorrowers its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower BorrowerBorrowers its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Revolving Facility Credit Agreement (Royal Gold Inc)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the each Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the either Credit Facility shall not at any time exceed the Individual Commitment of such Lender with respect to such Credit Facility and further provided that the aggregate amount of credit outstanding under the either Credit Facility shall not at any time exceed the amount of the such Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the either Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the either Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderunder either Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the either Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder such Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Silver Wheaton Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred Facility. Subject to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All terms and conditions hereof, all credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofrelevant credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any 286042.00038/115243826.6 such default of another Lender in extending credit thereunderunder the Credit Facility. The failure of any Lender to make available to the a Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (New Gold Inc. /FI)

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