Common use of Making Loans; Repayment of Loans Clause in Contracts

Making Loans; Repayment of Loans. (a) Each Loan hereunder shall be made on at least one (1) Business Day’s prior written request from the Borrower to the Administrative Agent and each Group Agent in the form of a Loan Request attached hereto as Exhibit A. Each such request for a Loan shall be made no later than 11:00 a.m. (New York City time) on a Business Day (it being understood that any such request made after such time shall be deemed to have been made on the following Business Day) and shall specify (i) the amount of the Loan(s) requested (which shall not be less than $1,000,000 and shall be an integral multiple of $100,000), (ii) the allocation of such amount among the Groups (which shall be ratable based on the Group Commitments), (iii) the account to which the proceeds of such Loan shall be distributed and (iv) the date such requested Loan is to be made (which shall be a Business Day). (b) On the date of each Loan, the Lenders shall, upon satisfaction of the applicable conditions set forth in Article V and in accordance with the other conditions set forth in this Article II, make available to the Borrower in same day funds an aggregate amount equal to the amount of such Loans requested, at the account set forth in the related Loan Request. (c) Each Committed Lender’s obligation shall be several, such that the failure of any Committed Lender to make available to the Borrower any funds in connection with any Loan shall not relieve any other Committed Lender of any obligation hereunder to make funds available on the date such Loans are requested (it being understood, that no Committed Lender

Making Loans; Repayment of Loans. (a) Each Loan hereunder shall be made on at least one (1) Business Day’s Day prior written request from the Borrower to the Administrative Agent and each Group Agent Lender in the form of a Loan Request attached hereto as Exhibit A. Each such request for a Loan shall be made no later than 11:00 a.m. 1:00 p.m. (New York City time) on a Business Day (it being understood that any such request made after such time shall be deemed to have been made on the following Business Day) and shall specify (i) the amount of the Loan(s) requested (which shall not be less than $1,000,000 and shall be an integral multiple of $100,000), (ii) the allocation of such amount among the Groups Lenders (which shall be ratable based on the Group Commitments), (iii) the account to which the proceeds of such Loan shall be distributed and (iv) the date such requested Loan is to be made (which shall be a Business Day). (b) On the date of each LoanLoan specified in the applicable Loan Request, the Lenders shall, upon satisfaction of the applicable conditions set forth in Article V VI and in accordance with pursuant to the other conditions set forth in this Article II, make available to the Borrower in same day funds an aggregate amount equal to the amount of such Loans requested, at the account set forth in the related Loan Request. (c) Each Committed Lender’s obligation shall be several, such that the failure of any Committed Lender to make available to the Borrower any funds in connection with any Loan shall not relieve any other Committed Lender of any obligation its obligation, if any, hereunder to make funds available on the date such Loans are requested (it being understood, that no Committed Lender shall be responsible for the failure of any other Lender to make funds available to the Borrower in connection with any Loan hereunder). The Borrower shall repay in full the outstanding Loan Amount of each Lender on the Final Maturity Date. Prior thereto, the Borrower shall, on each Settlement Date, make a prepayment of the outstanding Loan Amounts of the Lenders to the extent required under Section 4.01 and otherwise in accordance therewith. Notwithstanding the foregoing, the Borrower, in its discretion, shall have the right to make a prepayment, in whole or in part, of the outstanding Loan Amounts of the Lenders on any Business Day upon one (1) Business Day’s prior written notice thereof to the Administrative Agent and each Lender in the form of a Reduction Notice attached hereto as Exhibit E; provided, however, that (i) each such prepayment shall be in a minimum aggregate amount of $100,000 or any higher multiple thereof, (ii) the Borrower shall not provide any Reduction Notice, and no such Reduction Notice shall be effective, if after giving effect thereto, the Aggregate Loan Amount at such time would be less than an amount equal to the Minimum Funding Threshold and (iii) any accrued Interest and Fees in respect of such prepaid Loan Amounts shall be paid on the immediately following Settlement Date; provided, however that notwithstanding the foregoing, a prepayment may be in an amount necessary to reduce any Borrowing Base Deficit existing at such time to zero. The Borrower may, at any time upon at least thirty (30) days’ prior written notice to the Administrative Agent and each Lender, terminate the Facility Limit in whole or ratably reduce the Facility Limit in part. Each partial reduction in the Facility Limit shall be in a minimum aggregate amount of $5,000,000 or integral multiples of $1,000,000 in excess thereof, and no such partial reduction shall reduce the Facility Limit to an amount less than $35,000,000. In connection with any partial reduction in the Facility Limit, the Commitment of each Lender shall be ratably reduced. In connection with any reduction of the Commitments, the Borrower shall remit to the Administrative Agent (i) instructions regarding such reduction and (ii) for payment to the Lenders, cash in an amount sufficient to pay (A) the Loan Amount of each Lender in excess of the Commitment of such Lender and (B) all other outstanding Borrower Obligations with respect to such reduction (determined based on the ratio of the reduction of the Commitments being effected to the amount of the Commitments prior to such reduction or, if the Administrative Agent reasonably determines that any portion of the outstanding Borrower Obligations is allocable solely to that portion of the Commitments being reduced or has arisen solely as a result of such reduction, all of such portion) including, without duplication, any associated Breakage Fees. Upon receipt of any such amounts, the Administrative Agent shall apply such amounts first to the reduction of the outstanding Loan Amounts, and second to the payment of the remaining outstanding Borrower Obligations with respect to such reduction, including any Breakage Fees, by paying such amounts to the Lenders.

Making Loans; Repayment of Loans. (a) Each Loan hereunder shall be made on at least one (1) Business Day’s Day prior written request from the Borrower to the Administrative Agent and each Group Agent Lender in the form of a Loan Request attached hereto as Exhibit A. Each such request for a Loan shall be made no later than 11:00 a.m. 1:00 p.m. (New York City time) on a Business Day (it being understood that any such request made after such time shall be deemed to have been made on the following Business Day) and shall specify (i) the amount of 37762333169 19631658 762333169 19631658 the Loan(s) requested (which shall not be less than $1,000,000 and shall be an integral multiple of $100,000), (ii) the allocation of such amount among the Groups Lenders (which shall be ratable based on the Group Commitments), (iii) the account to which the proceeds of such Loan shall be distributed and (iv) the date such requested Loan is to be made (which shall be a Business Day). (b) On the date of each LoanLoan specified in the applicable Loan Request, the Lenders shall, upon satisfaction of the applicable conditions set forth in Article V VI and in accordance with pursuant to the other conditions set forth in this Article II, make available to the Borrower in same day funds an aggregate amount equal to the amount of such Loans requested, at the account set forth in the related Loan Request. (c) Each Committed Lender’s obligation shall be several, such that the failure of any Committed Lender to make available to the Borrower any funds in connection with any Loan shall not relieve any other Committed Lender of any obligation its obligation, if any, hereunder to make funds available on the date such Loans are requested (it being understood, that no Committed Lender shall be responsible for the failure of any other Lender to make funds available to the Borrower in connection with any Loan hereunder). (d) The Borrower shall repay in full the outstanding Loan Amount of each Lender on the Final Maturity Date. Prior thereto, the Borrower shall, on each Settlement Date, make a prepayment of the outstanding Loan Amounts of the Lenders to the extent required under Section 4.01 and otherwise in accordance therewith. Notwithstanding the foregoing, the Borrower, in its discretion, shall have the right to make a prepayment, in whole or in part, of the outstanding Loan Amounts of the Lenders on any Business Day upon one (1) Business Day’s prior written notice thereof to the Administrative Agent and each Lender in the form of a Reduction Notice attached hereto as Exhibit EB; provided, however, that (i) each such prepayment shall be in a minimum aggregate amount of $100,000 or any higher multiple thereof, (ii) the Borrower shall not provide any Reduction Notice, and no such Reduction Notice shall be effective, if after giving effect thereto, the Aggregate Loan Amount at such time would be less than an amount equal to the Minimum Funding Threshold and (iii) any accrued Interest and Fees in respect of such prepaid Loan Amounts shall be paid on the immediately following Settlement Date; provided, however that notwithstanding the foregoing, a prepayment may be in an amount necessary to reduce any Borrowing Base Deficit existing at such time to zero. (e) The Borrower may, at any time upon at least thirty (30) days’ prior written notice to the Administrative Agent and each Lender, terminate the Facility Limit in whole or ratably reduce the Facility Limit in part. Each partial reduction in the Facility Limit shall be in a minimum aggregate amount of $5,000,000 or integral multiples of $1,000,000 in excess thereof, and no such partial reduction shall reduce the Facility Limit to an amount less than $35,000,000. In connection with any partial reduction in the Facility Limit, the Commitment of each Lender shall be ratably reduced. (f) In connection with any reduction of the Commitments, the Borrower shall remit to the Administrative Agent (i) instructions regarding such reduction and (ii) for payment to the Lenders, cash in an amount sufficient to pay (A) theany Loan Amount of each Lender in excess of the Commitment of such Lendersuch that the aggregate Loan Amount of each Lender does not exceed such Lender’s Commitment as so reduced and (B) all other outstanding

Making Loans; Repayment of Loans. (ai) Each Loan hereunder shall be made on at least one (1) Business Day’s Dayby prior written request from the Borrower to the Administrative Agent and each Group Agent Lender in the form of a Loan Request attached hereto as Exhibit A. Each such request for a Loan shall be made no no(x) in the case of a Term SOFR Loan, not later than 11:00 a.m. 2:001:00 p.m. (, New York City time) on a, three (3) Business Days before the date of the proposed Borrowing and (y) in the case of a Base Rate Loan or Daily Simple SOFR Loan, not later than 1:00 p.m., New York City time, on the Business Day of the proposed Borrowing (it being understood that any such request made after such time shall be deemed to have been made on the following Business Day) and shall specify (i) the amount of the Loan(s) requested (which shall not be less than $1,000,000 and shall be an integral multiple of $100,000), (ii) the allocation of such amount among the Groups Lenders (which shall be ratable based on the Group Commitments), (iii) the account to which the proceeds of such Loan shall be distributed and (iv) the date such requested Loan is to be made (which shall be a Business Day). .; provided, however, that if the Borrower wishes to request Term SOFR Loans having an Interest Period other than one, three or six months in duration as provided in the definition of “Interest Period,” the applicable notice must be received by the Administrative Agent not later than 1:00 p.m. five (b5) On Business Days prior to the requested date of each Loansuch Borrowing, conversion or continuation, whereupon the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is acceptable to all of them and not less than 1:00 p.m. New York City time, four (4) Business Days before the requested date of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Borrower whether or not the requested Interest Period has been consented to by all the Lenders shalland the Administrative Agent. Each Loan Request shall specify (A) whether the Borrower is requesting a Borrowing, upon satisfaction a conversion of Loans from one Type to the other, or a continuation of Term SOFR Loans, (B) the requested date of the applicable conditions set forth in Article V Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (C) the principal amount of Loans to be borrowed, converted or continued, (D) the Type of Loans to be borrowed or to which existing Loans are to be converted; provided that (x) any Loan made on a date other than a Settlement Date shall initially be a Daily Simple SOFR Loan and in accordance with the other conditions set forth in this Article II, make available (y) any Loan made on a Settlement Date shall be a Daily Simple SOFR Loan except to the extent that the Daily Simple SOFR Loan Limit shall be exceeded and such excess shall be a Term SOFR Loan with an Interest Period of one month (unless another tenor shall be selected by the Borrower), (E) if applicable, the duration of the Interest Period with respect thereto and (F) the location and number of the Borrower’s accounts to which funds are to be disbursed. If the Borrower (i) fails to specify a Type of Loan in a Loan Request, then the applicable Loans shall be made as Daily Simple SOFR Loans, or (ii) fails to give a timely notice requesting a conversion or continuation, then the applicable Loans shall be made or continued as, or converted to Loans of the same Type. Any such automatic conversion or continuation shall be effective as of the last day funds an aggregate amount equal of the Interest Period then in effect with respect to the applicable Term SOFR Loans and, on each Monthly Settlement Date, the amount of any Daily Simple SOFR Loans exceeding the Daily Simple SOFR Loan Limit shall automatically convert to Term SOFR Loans with an Interest Period of one month. If the Borrower requests a Borrowing of, conversion to, or continuation of Term SOFR Loans in any such Loans requested, at the account set forth in the related Loan Request, but fail to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month. (c) Each Committed Lender’s obligation For the avoidance of doubt, the Borrower and Lenders acknowledge and agree that any conversion or continuation of an existing Loan shall be several, such deemed to be a continuation of that the failure of any Committed Lender to make available to the Borrower any funds in connection Loan with any Loan shall a converted interest rate methodology and not relieve any other Committed Lender of any obligation hereunder to make funds available on the date such Loans are requested (it being understood, that no Committed Lendera new Loan.