Common use of Loans – Payment of Principal and Interest; Revolving Nature Clause in Contracts

Loans – Payment of Principal and Interest; Revolving Nature. From and after the Fourth Amendment Effective Date, the unpaid principal amount of each Portion of the Loans shall, subject to the following sentence and Section 2.7(f), bear interest at the Applicable Rate. If at any time such rate of interest would exceed the Maximum Rate but for the provisions thereof limiting interest to the Maximum Rate, then any subsequent reduction shall not reduce the rate of interest on the Loans below the Maximum Rate until the aggregate amount of interest accrued on the Loans equals the aggregate amount of interest which would have accrued on the Loans if the interest rate had not been limited by the Maximum Rate. All accrued but unpaid interest on the principal balance of the Loans shall be payable on each Payment Date and on the Maturity Date, provided that interest accruing at the Default Interest Rate pursuant to Section 2.7(f) shall be payable on demand. The then Outstanding Amount of the Loans and all accrued but unpaid interest thereon shall be due and payable on the Maturity Date. The unpaid principal balance of the Loans at any time shall be the total amount advanced hereunder by Lenders less the amount of principal payments made thereon by or for Borrower, which balance may be endorsed on the Notes from time to time by Lenders or otherwise noted in Lenders’ and/or Administrative Agent’s records, which notations shall be, absent manifest error, conclusive evidence of the amounts owing hereunder from time to time.

Appears in 4 contracts

Samples: Credit Agreement (Granite Ridge Resources, Inc.), Credit Agreement (Granite Ridge Resources, Inc.), Credit Agreement (Granite Ridge Resources, Inc.)

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Loans – Payment of Principal and Interest; Revolving Nature. From and after the Fourth Amendment Effective Date, the The unpaid principal amount of each Portion Borrowing of the Loans shall, subject to the following sentence and Section 2.7(f2.6(e), bear interest at the Applicable applicable Interest Rate. If at any time such rate of interest would exceed the Maximum Rate but for the provisions thereof hereof limiting interest to the Maximum Rate, then any subsequent reduction shall not reduce the rate of interest on the Loans below the Maximum Rate until the aggregate amount of interest accrued on the Loans equals the aggregate amount of interest which would have accrued on the Loans if the interest rate had not been limited by the Maximum Rate. All accrued but unpaid interest on the principal balance of the Loans shall be payable on each Payment Date and on the Maturity Date, provided that interest accruing at the Default Interest Rate pursuant to Section 2.7(f2.6(e) shall be payable on demand. The then Outstanding Amount of the Loans and all accrued but unpaid interest thereon shall be due and payable on the Maturity Date. The unpaid principal balance of the Loans at any time shall be the total amount advanced hereunder by Revolving Credit Lenders less the amount of principal payments made thereon by or for Borrower, which balance may be endorsed on the Notes from time to time by Revolving Credit Lenders or otherwise noted in Revolving Credit Lenders’ and/or Administrative Agent’s records, which notations shall be, absent manifest error, conclusive evidence of the amounts owing hereunder from time to time.

Appears in 2 contracts

Samples: Credit Agreement (Peak Resources LP), Credit Agreement (Granite Ridge Resources, Inc.)

Loans – Payment of Principal and Interest; Revolving Nature. From and after the Fourth Amendment Effective Date, the The unpaid principal amount of each Portion of the Loans shall, subject to the following sentence and Section 2.7(f2.8(g), bear interest at the Applicable applicable Interest Rate. If at any time such rate of interest would exceed the Maximum Rate but for the provisions thereof limiting interest to the Maximum Rate, then any subsequent reduction shall not reduce the rate of interest on the Loans below the Maximum Rate until the aggregate amount of interest accrued on the Loans equals the aggregate amount of interest which would have accrued on the Loans if the interest rate had not been limited by the Maximum Rate. All accrued but unpaid interest on the principal balance of the Class B Loans shall be payable on each Payment Date and on the Class B Maturity Date, provided that interest accruing at the Default Interest Rate pursuant to Section 2.7(f2.8(g) shall be payable on demand. All accrued but unpaid interest on the principal balance of the Class A Loans shall be payable on each Payment Date and on the Class A Maturity Date, provided that interest accruing at the Default Interest Rate pursuant to Section 2.8(g) shall be payable on demand. The then Outstanding Amount of the Class B Loans and all accrued but unpaid interest thereon shall be due and payable on the Class B Maturity Date. The then Outstanding Amount of the Class A Loans and all accrued but unpaid interest thereon shall be due and payable on the Class A Maturity Date. The unpaid principal balance of the Loans at any time shall be the total amount advanced hereunder by Lenders less the amount of principal payments made thereon by or for Borrower, which balance may be endorsed on the Notes from time to time by Lenders or otherwise noted in Lenders’ and/or Administrative Agent’s records, which notations shall be, absent manifest error, conclusive evidence of the amounts owing hereunder from time to time.

Appears in 1 contract

Samples: Modification Agreement (Century Communities, Inc.)

Loans – Payment of Principal and Interest; Revolving Nature. From and after the Fourth Amendment Effective Date, the The unpaid principal amount of each Portion Borrowing of the Loans shall, subject to the following sentence and Section 2.7(f2.8(g), bear interest at the Applicable applicable Interest Rate. If at any time such rate of interest would exceed the Maximum Rate but for the provisions thereof limiting interest to the Maximum Rate, then any subsequent reduction shall not reduce the rate of interest on the Loans below the Maximum Rate until the aggregate amount of interest accrued on the Loans equals the aggregate amount of interest which would have accrued on the Loans if the interest rate had not been limited by the Maximum Rate. All accrued but unpaid interest on the principal balance of the Loans shall be payable on each Payment Date and on the Maturity DateDate for the Credit Facility, provided that interest accruing at the Default Interest Rate pursuant to Section 2.7(f2.8(g) shall be payable on demand. The then Outstanding Amount of the Loans and all accrued but unpaid interest thereon shall be due and payable on the Maturity DateDate for the Credit Facility. The unpaid principal balance of the Loans at any time shall be the total amount advanced hereunder by Lenders Xxxxxxx less the amount of principal payments made thereon by or for Borrower, which balance may be endorsed on the Notes from time to time by Lenders Xxxxxxx or otherwise noted in Lenders’ and/or Administrative Agent’s records, which notations shall be, absent manifest error, conclusive evidence of the amounts owing hereunder from time to time.

Appears in 1 contract

Samples: Modification Agreement (Century Communities, Inc.)

Loans – Payment of Principal and Interest; Revolving Nature. From and after the Fourth Amendment Effective Date, the The unpaid principal amount of each Portion of the Loans shall, subject to the following sentence and Section 2.7(f), bear interest at the Applicable applicable Interest Rate. If at any time such rate of interest would exceed the Maximum Rate but for the provisions thereof limiting interest to the Maximum Rate, then any subsequent reduction shall not reduce the rate of interest on the Loans below the Maximum Rate until the aggregate amount of interest accrued on the Loans equals the aggregate amount of interest which would have accrued on the Loans if the interest rate had not been limited by the Maximum Rate. All accrued but unpaid interest on the principal balance of the Loans shall be payable on each Payment Date and on the Maturity Date, provided that interest accruing at the Default Interest Rate pursuant to Section 2.7(f) shall be payable on demand. The then Outstanding Amount of the Loans and all accrued but unpaid interest thereon shall be due and payable on the Maturity Date. The unpaid principal balance of the Loans at any time shall be the total amount advanced hereunder by Lenders less the amount of principal payments made thereon by or for Borrower, which balance may be endorsed on the Notes from time to time by Lenders or otherwise noted in Lenders’ and/or Administrative Agent’s records, which notations shall be, absent manifest error, conclusive evidence of the amounts owing hereunder from time to time.

Appears in 1 contract

Samples: Credit Agreement (Granite Ridge Resources, Inc.)

Loans – Payment of Principal and Interest; Revolving Nature. From and after the Fourth Amendment Effective Date, the The unpaid principal amount of each Portion Borrowing of the Loans shall, subject to the following sentence and Section 2.7(f‎Section 2.6(e), bear interest at the Applicable applicable Interest Rate. If at any time such rate of interest would exceed the Maximum Rate but for the provisions thereof hereof limiting interest to the Maximum Rate, then any subsequent reduction shall not reduce the rate of interest on the Loans below the Maximum Rate until the aggregate amount of interest accrued on the Loans equals the aggregate amount of interest which would have accrued on the Loans if the interest rate had not been limited by the Maximum Rate. All accrued but unpaid interest on the principal balance of the Loans shall be payable on each Payment Date and on the Maturity Date, provided that interest accruing at the Default Interest Rate pursuant to Section 2.7(f2.6(e) shall be payable on demand. The then Outstanding Amount of the Loans and all accrued but unpaid interest thereon shall be due and payable on the Maturity Date. The unpaid principal balance of the Loans at any time shall be the total amount advanced hereunder by Revolving Credit Lenders less the amount of principal payments made thereon by or for Borrower, which balance may be endorsed on the Notes from time to time by Revolving Credit Lenders or otherwise noted in Revolving Credit Lenders’ and/or Administrative Agent’s records, which notations shall be, absent manifest error, conclusive evidence of the amounts owing hereunder from time to time.

Appears in 1 contract

Samples: Credit Agreement (Granite Ridge Resources, Inc.)

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Loans – Payment of Principal and Interest; Revolving Nature. From and after the Fourth Amendment Effective Date, the The unpaid principal amount of each Portion of the Loans Borrowing shall, subject to the following sentence and Section 2.7(f2.5(e), bear interest at the Applicable applicable Interest Rate. If at any time such rate of interest would exceed the Maximum Rate but for the provisions thereof limiting interest to the Maximum Rate, then any subsequent reduction shall not reduce the rate of interest on the Loans below the Maximum Rate until the aggregate amount of interest accrued on the Loans equals the aggregate amount of interest which would have accrued on the Loans if the interest rate had not been limited by the Maximum Rate. All accrued but unpaid interest on the principal balance of the Loans shall be payable on each Payment Date and on the Maturity DateDate for the Facility, provided that interest accruing at the Default Interest Rate pursuant to Section 2.7(f2.5(e) shall be payable on demand. The then Outstanding Amount of the Loans and all accrued but unpaid interest thereon shall be due and payable on the Maturity DateDate for the Facility. The unpaid principal balance of the Loans at any time shall be the total amount advanced hereunder by Lenders less the amount of principal payments made thereon by or for Borrower, which balance may be endorsed on the Notes from time to time by Lenders or otherwise noted in Lenders’ and/or Administrative Agent’s records, which notations shall be, absent manifest error, conclusive evidence of the amounts owing hereunder from time to time.

Appears in 1 contract

Samples: Credit Agreement (TriState Capital Holdings, Inc.)

Loans – Payment of Principal and Interest; Revolving Nature. From and after the Fourth Amendment Effective Date, the The unpaid principal amount of each Portion of the Loans Borrowing shall, subject to the following sentence and Section 2.7(f), bear interest at the Applicable applicable Interest Rate. If at any time such rate of interest would exceed the Maximum Rate but for the provisions thereof limiting interest to the Maximum Rate, then any subsequent reduction shall not reduce the rate of interest on the Loans below the Maximum Rate until the aggregate amount of interest accrued on the Loans equals the aggregate amount of interest which would have accrued on the Loans if the interest rate had not been limited by the Maximum Rate. All accrued but unpaid interest on the principal balance of the Loans shall be payable on each Payment Date and on the Maturity Date, provided that interest accruing at the Default Interest Rate pursuant to Section 2.7(f) shall be payable on demand. The then Outstanding Amount of the Loans and all accrued but unpaid interest thereon shall be due and payable on the Maturity Date. The unpaid principal balance of the Loans at any time shall be the total amount advanced hereunder by Lenders Lender less the amount of principal payments made thereon by or for Borrower, which balance may be endorsed on the Notes from time to time by Lenders Lender or otherwise noted in Lenders’ and/or Administrative AgentLender’s records, which notations shall be, absent manifest error, conclusive evidence of the amounts owing hereunder from time to time.

Appears in 1 contract

Samples: Credit Agreement (Victory Energy Corp)

Loans – Payment of Principal and Interest; Revolving Nature. From and after the Fourth Amendment Effective Date, the The unpaid principal amount of each Portion Borrowing of the Loans shall, subject to the following sentence and Section 2.7(f2.8(g), bear interest at the Applicable applicable Interest Rate. If at any time such rate of interest would exceed the Maximum Rate but for the provisions thereof limiting interest to the Maximum Rate, then any subsequent reduction shall not reduce the rate of interest on the Loans below the Maximum Rate until the aggregate amount of interest accrued on the Loans equals the aggregate amount of interest which would have accrued on the Loans if the interest rate had not been limited by the Maximum Rate. All accrued but unpaid interest on the principal balance of the Loans shall be payable on each Payment Date and on the Maturity DateDate for the Credit Facility, provided that interest accruing at the Default Interest Rate pursuant to Section 2.7(f2.8(g) shall be payable on demand. The then Outstanding Amount of the Loans and all accrued but unpaid interest thereon shall be due and payable on the Maturity DateDate for the Credit Facility. The unpaid principal balance of the Loans at any time shall be the total amount advanced hereunder by Lenders less the amount of principal payments made thereon by or for Borrower, which balance may be endorsed on the Notes from time to time by Lenders or otherwise noted in Lenders’ and/or Administrative Agent’s records, which notations shall be, absent manifest error, conclusive evidence of the amounts owing hereunder from time to time.

Appears in 1 contract

Samples: Credit Agreement (Century Communities, Inc.)

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