Common use of Minimum and Maximum Amounts Clause in Contracts

Minimum and Maximum Amounts. Except for prepayments made pursuant to SECTION 3.2(B), each borrowing and repayment of principal of Loans, each optional partial prepayment and each designation, Continuation or Conversion of Type shall be in an aggregate principal amount equal to $1,000,000 or an integral multiple thereof (borrowings or prepayments of Loans of different Types or, in the case of Eurodollar Loans, having different Interest Periods at the same time hereunder, to be deemed separate borrowings and prepayments for purposes of the foregoing, one for each Type or Interest Period), and each termination or reduction of the Aggregate Commitment shall be in an aggregate principal amount equal to $5,000,000 or an integral multiple thereof. Upon any mandatory prepayment that would reduce Eurodollar Loans having the same Interest Period to less than $1,000,000, such Eurodollar Loans shall automatically be converted into Alternate Base Rate Loans. Each issuance of a Letter of Credit shall be in a face amount of at least $25,000.

Appears in 1 contract

Samples: Credit Agreement (Monterey Resources Inc)

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Minimum and Maximum Amounts. Except for prepayments made pursuant to SECTION 3.2(B), each borrowing and repayment of principal of Loans, each optional partial prepayment and each designation, Continuation or Conversion of Type shall be in an aggregate principal amount equal to $1,000,000 or an integral multiple of $1,000,000 in excess thereof (borrowings or prepayments of Loans of different Types or, in the case of Eurodollar Loans, having different Interest Periods at the same time hereunder, to be deemed separate borrowings and prepayments for purposes of the foregoing, one for each Type or Interest Period), and each termination or reduction of the Aggregate Commitment shall be in an aggregate principal amount equal to $5,000,000 20,000,000 or an integral multiple of $1,000,000 in excess thereof. Upon any mandatory prepayment that would reduce Eurodollar Loans having the same Interest Period to less than $1,000,000, such Eurodollar Loans shall automatically be converted into Alternate Base Rate Loans. Each issuance of a Letter of Credit shall be in a face amount of at least $25,000.

Appears in 1 contract

Samples: Credit Agreement (Santa Fe Snyder Corp)

Minimum and Maximum Amounts. Except for prepayments made pursuant to SECTION 3.2(B), each borrowing and repayment of principal of Loans, each optional partial prepayment and each designation, Continuation or Conversion of Type shall be in an aggregate principal amount equal to $1,000,000 or an integral multiple of $1,000,000 in excess thereof (borrowings or prepayments of Loans of different Types or, in the case of Eurodollar Loans, having different Interest Periods at the same time hereunder, to be deemed separate borrowings and prepayments for purposes of the foregoing, one for each Type or Interest Period), and each termination or reduction of the Aggregate Commitment shall be in an aggregate principal amount equal to $5,000,000 20,000,000 or an integral multiple of $1,000,000 in excess thereof. Upon any mandatory prepayment that would reduce Eurodollar Loans having the same Interest Period to less than $1,000,000, such Eurodollar Loans shall automatically be converted into Alternate Base Rate Loans. Each issuance of a Letter of Credit shall be in a face amount of at least $25,000.

Appears in 1 contract

Samples: Credit Agreement (Santa Fe Snyder Corp)

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Minimum and Maximum Amounts. Except for prepayments made pursuant to SECTION 3.2(BSection 3.2(b), each borrowing and repayment of principal of Loans, each optional partial prepayment and each designation, Continuation or Conversion of Type shall be in an aggregate principal amount equal to $1,000,000 or an integral multiple thereof (borrowings or prepayments of Loans of different Types or, in the case of Eurodollar Loans, having different Interest Periods at the same time hereunder, to be deemed separate borrowings and prepayments for purposes of the foregoing, one for each Type or Interest Period), and each termination or reduction of the Aggregate Commitment shall be in an aggregate principal amount equal to $5,000,000 or an integral multiple thereof. Upon any mandatory prepayment that would reduce Eurodollar Loans having the same Interest Period to less than $1,000,000, such Eurodollar Loans shall automatically be converted into Alternate Base Rate Loans. Each issuance of a Letter of Credit shall be in a face amount of at least $25,000.into

Appears in 1 contract

Samples: Credit Agreement (Monterey Acquisition Corp)

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