Common use of Making the Revolving Loans Clause in Contracts

Making the Revolving Loans. From and including the Closing Date and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make revolving loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding (i) the amount of its Revolving Loan Commitment (each individually a "Revolving Loan" and, collectively, the "Revolving Loans") or (ii) the Borrowing Base, in each case minus the sum of the aggregate principal amount of all outstanding Letters of Credit and the outstanding principal on the Swing Line Loan. Each Advance under this Section 2.2.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender's respective Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date, and all amounts due on the Revolving Loans shall be payable on the Revolving Loan Termination Date.

Appears in 2 contracts

Samples: Credit Agreement (Superior Energy Services Inc), Credit Agreement (Superior Energy Services Inc)

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Making the Revolving Loans. From Subject to the terms and including the Closing Date conditions hereof and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make revolving loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding (i) the amount of its Revolving Loan Commitment (each individually a "Revolving Loan" and, collectively, the "Revolving Loans") or (ii) ”). Subject to the Borrowing Baseprovisions of Section 2.1.3 below, in each case minus the sum maximum aggregate amount of the aggregate principal amount of all outstanding Letters of Credit and the outstanding principal on the Swing Line LoanRevolving Loan Commitments shall be $250,000,000. Each Advance under this Section 2.2.1 2.1.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender's ’s respective Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date, and all amounts due on the Revolving Loans shall be payable on . On the Revolving Loan Termination Date, the Borrower shall repay in full the outstanding principal balance of the Revolving Loans. To the extent that a Lender’s Pro Rata Share as shown on Schedule 1 is different for such Lender’s Pro Rata Share under the 2005 Credit Agreement, such Lender hereby assigns or accepts the interests of the other Lenders’ Pro Rata Shares in order to reflect such difference.

Appears in 2 contracts

Samples: Credit Agreement (Superior Energy Services Inc), Credit Agreement (Superior Energy Services Inc)

Making the Revolving Loans. From and including the Closing Date and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make revolving loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding (i) the amount of its Revolving Loan Commitment (each individually a "Revolving Loan" and, collectively, the "Revolving Loans") or (ii) ”). Subject to the Borrowing Baseprovisions of Section 2.1.3 below, in each case minus the sum maximum aggregate amount of the aggregate principal amount of all outstanding Letters of Credit and the outstanding principal on the Swing Line LoanRevolving Loan Commitments shall be $150,000,000. Each Advance under this Section 2.2.1 2.1.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender's ’s respective Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date, and all amounts due on the Revolving Loans shall be payable on . On the Revolving Loan Termination Date, the Borrower shall repay in full the outstanding principal balance of the Revolving Loans. To the extent that a Lender’s Pro Rata Share as shown on Schedule 1 is different for such Lender’s Pro Rata Share under the 2003 Credit Agreement, such Lender hereby assigns or accepts the interests of the other Lenders’ Pro Rata Shares in order to reflect such difference.

Appears in 1 contract

Samples: Credit Agreement (Superior Energy Services Inc)

Making the Revolving Loans. From and including the Closing Date and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to to: (i) make revolving loans to the Borrower from time to time in amounts an amount not to exceed in the aggregate at any one time outstanding (i) the amount of its Revolving Loan Commitment (each individually individually, a "Revolving Loan" and, collectively, the "Revolving Loans") or ); and (ii) to participate in Facility LCs issued pursuant to Section 2.19 upon the Borrowing Base, in each case minus the sum request of the aggregate principal amount Borrower, provided, that after giving effect to the making of all outstanding Letters of Credit each such Revolving Loan and the outstanding principal on the Swing Line Loanissuance of each such Facility LC, such Lender's Outstanding Revolving Credit Exposure shall not exceed its Revolving Loan Commitment. Each Advance under this Section 2.2.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender's respective Revolving Loan Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date, and all amounts due on the Revolving Loans shall be payable on the Revolving Loan Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Roundys Inc)

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Making the Revolving Loans. From and including the Closing Date and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make revolving loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding the LESSER of (i) the amount of its Revolving Loan Commitment (each individually a "Revolving Loan" and, collectively, the "Revolving Loans") ), MINUS 100% of the principal amount of all Letters of Credit, or (ii) the Borrowing Base, in each case minus the sum MINUS 100% of the aggregate principal amount of all outstanding Financial Letters of Credit and 25% of the outstanding principal on the Swing Line Loanamount of all Performance Letters of Credit. Each Advance under this Section 2.2.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender's respective Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date, and all amounts due on the Revolving Loans shall be payable on the Revolving Loan Termination Date.

Appears in 1 contract

Samples: Credit Agreement (Unifab International Inc)

Making the Revolving Loans. From (a) Subject to the terms and including the Closing Date conditions hereof and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make revolving loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding (i) the amount of its Revolving Loan Commitment (each individually a "Revolving Loan" and, collectively, the "Revolving Loans"”). Subject to the provisions of Section 2.4(b) or (ii) below, the Borrowing Base, in each case minus the sum maximum aggregate amount of the aggregate principal amount of all outstanding Letters of Credit and the outstanding principal on the Swing Line LoanRevolving Loan Commitments shall be $325,000,000. Each Advance under this Section 2.2.1 2.1.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender's ’s respective Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date, and all amounts due on the Revolving Loans shall be payable on . On the Revolving Loan Termination Date, the Borrower shall repay in full the outstanding principal balance of the Revolving Loans. The Advances must be either Floating Rate Advances or Eurodollar Advances, or a combination thereof, selected by the Borrower or otherwise outstanding in accordance with Sections 2.7 and 2.8. (b) To the extent that a Lender’s Pro Rata Share as shown on Schedule 1 is different for such Lender’s Pro Rata Share under the 2007 Credit Agreement, such Lender hereby assigns or accepts the interests of the other Lenders’ Pro Rata Shares in order to reflect such difference; such assignment shall be without any representation or warranty by assignor and without recourse to assignor. On the Closing Date, a Lender under this Agreement who either (i) is increasing its Pro Rata Share under this Agreement over its Pro Rata Share under the 2007 Credit Agreement or (ii) is not a lender under the 2007 Credit Agreement, such Lender shall make an advance on the Closing Date sufficient to increase its Advances to its Pro Rata Share under this Agreement of the total Advances outstanding on the Closing Date. Similarly, a Lender under this Agreement who is decreasing its Pro Rata Share under this Agreement from its Pro Rata Share under the 2007 Credit Agreement shall receive an amount sufficient to reduce its Advances to its Pro Rata Share under this Agreement of the total Advances outstanding on the Closing Date. Any Eurodollar Interest Period shall be terminated as of the Closing Date and the Borrower shall pay any loss or costs incurred by a Lender as a result thereof pursuant to Section 3.4, unless waived by a Lender.

Appears in 1 contract

Samples: Credit Agreement (Superior Energy Services Inc)

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