Prepayments Relating to the Borrowing Base Sample Clauses

Prepayments Relating to the Borrowing Base. Company shall ------------------------------------------ from time to time prior to the Revolving Loan Commitment Termination Date, prepay Revolving Loans and Swing Line Loans (and after all Loans have been repaid, deposit in a collateral account same day funds in an amount equal to the Letter of Credit Usage until such time as the Letters of Credit shall have been terminated and the Letter of Credit Usage has been reduced to zero or until no payment is otherwise required under this clause (f)) in such amounts as shall be necessary so that at all times the Total Utilization of Revolving Loan Commitments shall not exceed the Adjusted Borrowing Base Amount then in effect.
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Prepayments Relating to the Borrowing Base. Company shall immediately prepay Revolving Loans (and after all Revolving Loans have been repaid, deposit in a collateral account (subject to arrangements reasonably satisfactory to the Administrative Agent) same day funds in an amount equal to the Letter of Credit Usage, if any, until such time as the Letters of Credit shall have been terminated and the Letter of Credit Usage has been reduced to zero or until no payment is otherwise required under this clause (f)) in such amounts as shall be necessary so that at all times the Total Utilization of Commitments shall not exceed the Borrowing Base then in effect. After giving effect to such prepayment of Revolving Loans, to the extent that the Total Utilization of Commitments still exceeds the Borrowing Base, the Company will immediately prepay Term Loans to the extent necessary to eliminate such excess (the "DEFICIENCY AMOUNT"), or (provided no Default or Event of Default exists and is continuing) at the election of the Company, at any time following establishment of the Borrowing Base Deficiency pursuant to Section 9.9, deposit Dollars in the Borrowing Base Deficiency Cash Collateral Account in an amount equal to the Deficiency Amount.
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Prepayments Relating to the Borrowing Base. (I) Company shall from time to time prior to the Revolving Loan Commitment Termination Date, prepay Loans (and after all Loans have been repaid, deposit in a collateral account same day funds in an amount equal to the Letter of Credit Usage until such time as the Letters of Credit shall have been terminated and the Letter of Credit Usage has been reduced to zero or until no payment is otherwise required under this clause (g)) in such amounts as shall be necessary so that at all times the Total Utilization of Commitments shall not exceed the Adjusted Borrowing Base Amount then in effect.
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Related to Prepayments Relating to the Borrowing Base

  • Payments Reductions of Commitments Prepayments 16 2.5. Promise to Pay; Promissory Notes. 26

  • Conditions relating to Optional Currencies (a) A currency will constitute an Optional Currency in relation to a Loan if:

  • Additional Conditions to Swingline Loans If a Swingline Loan is requested, all conditions set forth in Section 2.4 shall have been satisfied.

  • CONDITIONS TO ALL BORROWINGS The obligations of the Lenders to make any Loan or issue any Letter of Credit, whether on or after the Closing Date, shall also be subject to the satisfaction of the following conditions precedent:

  • Determinations of Initial Borrowing Conditions For purposes of determining compliance with the conditions specified in Section 3.1, each Lender shall be deemed to be satisfied with each document and each other matter required to be satisfactory to such Lender unless, prior to the Closing Date, the Administrative Agent receives notice from such Lender specifying such Lender’s objections and such Lender has not made available its Pro Rata Share of any Borrowing scheduled to be made on the Closing Date.

  • Other Provisions Relating to Credit Facilities 24 3.1 Default Rate.....................................................24

  • Additional Conditions to Revolving Loans If a Revolving Loan is requested, all conditions set forth in Section 2.1 shall have been satisfied.

  • Mandatory Prepayments and Commitment Reductions 28 2.11 Conversion and Continuation Options............................... 29 2.12 Minimum Amounts and Maximum Number of Eurodollar Tranches......... 30 2.13 Interest Rates and Payment Dates.................................. 30 2.14 Computation of Interest and Fees.................................. 30 2.15 Inability to Determine Interest Rate.............................. 31 2.16 Pro Rata Treatment and Payments................................... 31 2.17

  • Conditions Precedent to Each Borrowing and Issuance The obligation of each Lender to make an Advance (other than an Advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c)) on the occasion of each Borrowing and the obligation of each Issuing Bank to issue a Letter of Credit shall be subject to the conditions precedent that the Effective Date shall have occurred and on the date of such Borrowing or such Issuance (as the case may be) the following statements shall be true (and each of the giving of the applicable Notice of Borrowing or Notice of Issuance and the acceptance by the Borrower of the proceeds of such Borrowing or such Issuance shall constitute a representation and warranty by the Borrower that on the date of such Borrowing or such Issuance such statements are true):

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Eligible Portfolio Investment by (y) the applicable Advance Rate; provided that:

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