Common use of Minimum Amounts of Tranches; Maximum Number of Tranches Clause in Contracts

Minimum Amounts of Tranches; Maximum Number of Tranches. (a) All borrowings, Conversions and Continuations of Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Eurodollar Loans comprising each Tranche shall be equal to $1,000,000 or a whole multiple of $100,000 in excess thereof. (b) No more than fifteen (15) Tranches of Eurodollar Loans shall be outstanding at any one time; provided that for each Facility Increase in an aggregate principal amount of $50,000,000, two (2) additional Tranches of Eurodollar Loans may be outstanding (up to a maximum of twenty (20) Tranches of Eurodollar Loans) at any one time.

Appears in 4 contracts

Samples: Credit Agreement, Credit Agreement (Cypress Energy Partners, L.P.), Credit Agreement (Cypress Energy Partners, L.P.)

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Minimum Amounts of Tranches; Maximum Number of Tranches. (a) All borrowings, Conversions and Continuations of Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Eurodollar Loans comprising each Tranche shall be equal to $1,000,000 or a whole multiple of $100,000 in excess thereof. (b) No more than fifteen twenty (1520) Tranches of Eurodollar Loans shall be outstanding at any one time; provided that for each Facility Increase in an aggregate principal amount of $50,000,000, two (2) additional Tranches of Eurodollar Loans may be outstanding (up to a maximum of twenty twenty-five (2025) Tranches of Eurodollar Loans) at any one time.

Appears in 3 contracts

Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP)

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Minimum Amounts of Tranches; Maximum Number of Tranches. (a) All borrowings, Conversions and Continuations of Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Eurodollar Loans comprising each Tranche shall be equal to $1,000,000 or a whole multiple of $100,000 in excess thereof. (b) No more than fifteen (15) Tranches of Eurodollar Loans shall be outstanding at any one time; provided that for each Revolving Facility Increase in an aggregate principal amount of $50,000,00020,000,000, two one (21) additional Tranches of Eurodollar Loans may be outstanding (up to a maximum of twenty sixteen (2016) Tranches of Eurodollar Loans) at any one time.

Appears in 1 contract

Samples: Credit Agreement (Cypress Energy Partners, L.P.)

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