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 Eurocurrency Loans comprising each Tranche shall be equal to $1,000,000 or C$1,000,000, as applicable, or a whole multiple of $100,000 or C$100,000, as applicable, in excess thereof. (b) No more than (i) an aggregate of twenty (20) Tranches of Eurocurrency Loans shall be outstanding at any one time under the Acquisition Facility and the Dollar Working Capital Facility, (ii) five (5) Tranches of Eurocurrency Loans denominated in United States Dollars shall be outstanding at any one time under the Multicurrency Working Capital Facility and (iii) five (5) Tranches of Eurocurrency Loans denominated in Canadian Dollars shall be outstanding at any one time under the Multicurrency Working Capital Facility; provided that for each Facility Increase in an aggregate principal amount of $50,000,000, two (2) additional Tranches of Eurocurrency Loans may be outstanding under the relevant Facility (up to a maximum of thirty-five (35) Tranches of Eurocurrency Loans for all Facilities) at any one time.

Appears in 5 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 Eurocurrency CDOR Loans and/or Term SOFR Loans comprising each Tranche shall be equal to $1,000,000 or C$1,000,000, as applicable, or a whole multiple of $100,000 or C$100,000, as applicable, in excess thereof. (b) No more than (i) an aggregate of twenty (20) Tranches of Eurocurrency Term SOFR Loans or CDOR Loans shall be outstanding at any one time under the Acquisition Facility and the Dollar Working Capital Facility, (ii) five (5) Tranches of Eurocurrency Term SOFR Loans denominated in United States Dollars shall be outstanding at any one time under the Multicurrency Working Capital Facility and (iii) five (5) Tranches of Eurocurrency CDOR Loans denominated in Canadian Dollars shall be outstanding at any one time under the Multicurrency Working Capital Facility; provided that for each Facility Increase in an aggregate principal amount of $50,000,000, two (2) additional Tranches of Eurocurrency CDOR Loans and/or Term SOFR Loans may be outstanding under the relevant Facility (up to a maximum of thirty-five (35) Tranches of Eurocurrency CDOR Loans and/or Term SOFR Loans for all Facilities) at any one time.

Appears in 1 contract

Samples: 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 Eurocurrency Loans comprising each Tranche shall be equal to $1,000,000 or C$1,000,000, as applicable, or a whole multiple of $100,000 or C$100,000, as applicable, in excess thereof.as (b) No more than (i) an aggregate of twenty (20) Tranches of Eurocurrency Loans shall be outstanding at any one time under the Acquisition Facility and the Dollar Working Capital Facility, (ii) five (5) Tranches of Eurocurrency Loans denominated in United States Dollars shall be outstanding at any one time under the Multicurrency Working Capital Facility and (iii) five (5) Tranches of Eurocurrency Loans denominated in Canadian Dollars shall be outstanding at any one time under the Multicurrency Working Capital Facility; provided that for each Facility Increase in an aggregate principal amount of $50,000,000, two (2) additional Tranches of Eurocurrency Loans may be outstanding under the relevant Facility (up to a maximum of thirty-five (35) Tranches of Eurocurrency Loans for all Facilities) at any one time.

Appears in 1 contract

Samples: Amended and Restated Credit Agreement (Sprague Resources LP)

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