Common use of Prepayment of Portion Clause in Contracts

Prepayment of Portion. In addition to the other rights and options of the Borrowers hereunder and notwithstanding any contrary provisions hereof, if a Lender gives the notice provided for in Section 13.4 with respect to any Loan (an “Affected Loan”), the applicable Borrower may, upon two (2) Banking Days’ notice to that effect given to such Lender and the Agent (which notice shall be irrevocable), either effect a Conversion in accordance with the provisions hereof (if such Conversion would reduce the applicable Additional Compensation) or prepay in full without penalty such Lender’s Rateable Portion of the Affected Loan outstanding together with accrued and unpaid interest on the principal amount so prepaid up to the date of such prepayment, such Additional Compensation as may be applicable to the date of such payment and all costs, losses and expenses incurred by such Lender by reason of the liquidation or re-deployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such Affected Loan or any part thereof on other than the last day of the applicable Interest Period, and upon such payment being made that Lender’s obligations to make such Affected Loans to the applicable Borrower or Borrowers under this Agreement shall terminate.

Appears in 2 contracts

Samples: Credit Agreement (Baytex Energy Corp.), Credit Facilities (Baytex Energy Corp.)

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Prepayment of Portion. In addition to the other rights and options of the Borrowers hereunder and notwithstanding any contrary provisions hereof, if a Lender gives the notice provided for in Section 13.4 13.3 with respect to any Loan (an "Affected Loan"), the applicable Borrower may, upon two (2) 2 Banking Days' notice to that effect given to such Lender and the Agent (which notice shall be irrevocable), either effect a Conversion in accordance with the provisions hereof (if such Conversion would reduce the applicable Additional Compensation) or prepay in full without penalty such Lender’s 's Rateable Portion of the Affected Loan outstanding together with accrued and unpaid interest on the principal 31150487.8 amount so prepaid up to the date of such prepayment, such Additional Compensation as may be applicable to the date of such payment and all costs, losses and expenses incurred by such Lender by reason of the liquidation or re-deployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such Affected Loan or any part thereof on other than the last day of the applicable Interest Period, and upon such payment being made that Lender’s 's obligations to make such Affected Loans to the applicable Borrower or Borrowers under this Agreement shall terminate.

Appears in 1 contract

Samples: Credit Agreement (Baytex Energy Corp.)

Prepayment of Portion. In addition to the other rights and options of the Borrowers Borrower hereunder and notwithstanding any contrary provisions hereof, if a Lender gives the notice provided for in Section 13.4 5.1 with respect to any Loan (an "Affected Loan"), the applicable Borrower may, upon two (2) 2 Banking Days’ notice to that effect given Days deliver a Repayment Notice to such Lender and the Administrative Agent (which notice shall will be irrevocable), either effect a Conversion in accordance with the provisions hereof (if such Conversion would reduce the applicable Additional Compensation) or giving notice of its intention to prepay in full without penalty such Lender’s Rateable Portion 's Proportion of the Affected Loan outstanding together with accrued and unpaid interest on the principal amount so prepaid up to the date of such prepayment, such Additional Compensation as may be applicable to the date of such payment and all costs, losses and expenses incurred by such Lender by reason of the liquidation or re-deployment redeployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such Affected Loan or any part thereof on other than the last day of the applicable Interest Period, and upon such payment being made that Lender’s 's obligations to make such Affected Loans to the applicable Borrower or Borrowers under this Agreement shall will terminate.

Appears in 1 contract

Samples: Credit Agreement (Provident Energy Trust)

Prepayment of Portion. In addition to the other rights and options of the Borrowers Borrower hereunder and notwithstanding any contrary provisions hereof, if a Lender gives the notice provided for in Section 13.4 with respect to any Loan (an “Affected Loan”), the applicable Borrower may, upon two (2) 2 Banking Days’ notice to that effect given to such Lender and the Agent (which notice shall be irrevocable), either effect a Conversion in accordance with the provisions hereof (if such Conversion would reduce the applicable Additional Compensation) or prepay in full without penalty such LenderXxxxxx’s Rateable Portion of the Affected Loan outstanding together with accrued and unpaid interest on the principal amount so prepaid up to the date of such prepayment, such Additional Compensation as may be applicable to the date of such payment and all costs, losses and expenses incurred by such Lender by reason of the liquidation or re-deployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such Affected Loan or any part thereof on other than the last day of the applicable Interest Period, and upon such payment being made that Lender’s obligations to make such Affected Loans to the applicable Borrower or Borrowers under this Agreement shall terminate.

Appears in 1 contract

Samples: Credit Agreement (Hammerhead Energy Inc.)

Prepayment of Portion. In addition to the other rights and options of the Borrowers Borrower hereunder and notwithstanding any contrary provisions hereof, if a Lender gives the notice provided for in Section 13.4 12.4 with respect to any Loan (an “Affected Loan”), the applicable Borrower may, upon two (2) 2 Banking Days’ notice to that effect given to such Lender and the Agent (which notice shall be irrevocable), either effect a Conversion in accordance with the provisions hereof (if such Conversion would reduce the applicable Additional Compensation) or prepay in full without penalty such LenderXxxxxx’s Rateable Portion of the Affected Loan outstanding together with accrued and unpaid interest on the principal amount so prepaid up to the date of such prepayment, such Additional Compensation as may be applicable to the date of such payment and all costs, losses and expenses incurred by such Lender by reason of the liquidation or re-deployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such Affected Loan or any part thereof on other than the last day of the applicable Interest Period, and upon such payment being made that Lender’s obligations to make such Affected Loans to the applicable Borrower or Borrowers under this Agreement shall terminate.

Appears in 1 contract

Samples: Credit Agreement (Obsidian Energy Ltd.)

Prepayment of Portion. In addition to the other rights and options of the Borrowers Borrower hereunder and notwithstanding any contrary provisions hereof, if a Lender gives the notice provided for in Section 13.4 12.2 with respect to any Loan (an “Affected Loan”), the applicable Borrower may, upon two (2) 2 Banking Days’ notice to that effect given to such Lender and the Agent (which notice shall be irrevocable), either effect a Conversion in accordance with the provisions hereof (if such Conversion would reduce the applicable Additional Compensation) or prepay in full without penalty such LenderXxxxxx’s Rateable Portion of the Affected Loan outstanding together with accrued and unpaid interest on the principal amount so prepaid up to the date of such prepayment, such Additional Compensation as may be applicable to the date of such payment and all costs, losses and expenses incurred by such Lender by reason of the liquidation or re-deployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such Affected Loan or any part thereof on other than the last day of the applicable Interest Period, and upon such payment being made that Lender’s obligations to make such Affected Loans to the applicable Borrower or Borrowers under this Agreement shall terminate.

Appears in 1 contract

Samples: Credit Agreement (Greenfire Resources Ltd.)

Prepayment of Portion. In addition to the other rights and options of the Borrowers hereunder and notwithstanding any contrary provisions hereof, if a Lender gives the notice provided for in Section 13.4 13.3 with respect to any Loan (an "Affected Loan"), the applicable Borrower may, upon two (2) 2 Banking Days' notice to that effect given to such Lender and the Agent (which notice shall be irrevocable), either effect a Conversion in accordance with the provisions hereof (if such Conversion would reduce the applicable Additional Compensation) or prepay in full without penalty such Lender’s 's Rateable Portion of the Affected Loan outstanding together with accrued and unpaid interest on the principal amount so prepaid up to the date of such prepayment, such Additional Compensation as may be applicable to the date of such payment and all costs, losses and expenses incurred by such Lender by reason of the liquidation or re-deployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such Affected Loan or any part thereof on other than the last day of the applicable Interest Period, and upon such payment being made that Lender’s 's obligations to make such Affected Loans to the applicable Borrower or Borrowers under this Agreement shall terminate.

Appears in 1 contract

Samples: Credit Agreement (Baytex Energy Corp.)

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Prepayment of Portion. In addition to the other rights and options of the Borrowers hereunder and notwithstanding any contrary provisions hereof, if a Lender gives the notice provided for in Section 13.4 12.2 with respect to any Loan (an “Affected Loan”), the applicable Borrower may, upon two (2) Banking Days’ notice to that effect given to such Lender and the Agent (which notice shall be irrevocable), either effect a Conversion in accordance with the provisions hereof (if such Conversion would reduce the applicable Additional Compensation) or prepay in full without penalty such Lender’s Rateable Portion of the Affected Loan outstanding together with accrued and unpaid interest on the principal amount so prepaid up to the date of such prepayment, such Additional Compensation as may be applicable to the date of such payment and all costs, losses and expenses incurred by such Lender by reason of the liquidation or re-deployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such Affected Loan or any part thereof on other than the last day of the applicable Interest Period, and upon such payment being made that Lender’s obligations to make such Affected Loans to the applicable Borrower or Borrowers under this Agreement shall terminate.

Appears in 1 contract

Samples: Credit Agreement (Baytex Energy Corp.)

Prepayment of Portion. In addition to the other rights and options of the Borrowers Borrower hereunder and notwithstanding any contrary provisions hereof, if a Lender gives the notice provided for in Section 13.4 with respect to any Loan (an "Affected Loan"), the applicable Borrower may, upon two (2) 2 Banking Days' notice to that effect given to such Lender and the Agent (which notice shall be irrevocable), either effect a Conversion in accordance with the provisions hereof (if such Conversion would reduce the applicable Additional Compensation) or prepay in full without penalty such Lender’s Xxxxxx's Rateable Portion of the Affected Loan outstanding together with accrued and unpaid interest on the principal amount so prepaid up to the date of such prepayment, such Additional Compensation as may be applicable to the date of such payment and all costs, losses and expenses incurred by such Lender by reason of the liquidation or re-deployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such Affected Loan or any part thereof on other than the last day of the applicable Interest Period, and upon such payment being made that Lender’s 's obligations to make such Affected Loans to the applicable Borrower or Borrowers under this Agreement shall terminate.

Appears in 1 contract

Samples: Credit Facilities (Hammerhead Energy Inc.)

Prepayment of Portion. In addition to the other rights and options of the Borrowers Borrower hereunder and notwithstanding any contrary provisions hereof, if a Lender gives the notice provided for in Section 13.4 11.3 with respect to any Loan (an "Affected Loan"), the applicable Borrower may, : (a) upon two (2) 2 Banking Days’ Days notice to that effect given to such Lender and the Administrative Agent (which notice shall be irrevocable), either effect a Conversion in accordance with the provisions hereof (if such Conversion would reduce the applicable Additional Compensation) or prepay in full without penalty such Lender’s Rateable Portion 's Proportion of the Affected Loan outstanding together with accrued and unpaid interest on the principal amount so prepaid up to the date of such prepayment, such Additional Compensation as may be applicable to the date of such payment and all costs, losses and expenses incurred by such Lender by reason of the liquidation or re-deployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such Affected Loan or any part thereof on other than the last day of the applicable Interest Period, and upon such payment being made made, that Lender’s 's obligations to make such Affected Loans to the applicable Borrower or Borrowers under this Agreement shall terminate; or (b) provided no Default or Event of Default has occurred and is continuing, treat such Lender as if it were a Non-Extending Lender under Section 2.4 and exercise the rights and remedies available to it under Section 2.4 in respect of a Non-Extending Lender for a period of 60 days following receipt of a notice pursuant to Section 11.3.

Appears in 1 contract

Samples: Credit Agreement (Keyspan Corp)

Prepayment of Portion. In addition to the other rights and options of the Borrowers Borrower hereunder and notwithstanding any contrary provisions hereof, if a Lender gives the notice provided for in Section 13.4 12.3 with respect to any Loan (an “Affected Loan”), the applicable Borrower may, upon two (2) 2 Banking Days’ notice to that effect given to such Lender and the Agent (which notice shall be irrevocable), either effect a Conversion in accordance with the provisions hereof (if such Conversion would reduce the applicable Additional Compensation) or prepay in full without penalty such LenderXxxxxx’s Rateable Portion of the Affected Loan outstanding together with accrued and unpaid interest on the principal amount so prepaid up to the date of such prepayment, such Additional Compensation as may be applicable to the date of such payment and all costs, losses and expenses incurred by such Lender by reason of the liquidation or re-deployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such Affected Loan or any part thereof on other than the last day of the applicable Interest Period, and upon such payment being made that Lender’s obligations to make such Affected Loans to the applicable Borrower or Borrowers under this Agreement shall terminate.

Appears in 1 contract

Samples: Credit Agreement (Obsidian Energy Ltd.)

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