Common use of Procedure for US Revolving Borrowings Clause in Contracts

Procedure for US Revolving Borrowings. The Borrower Representative shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each US Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of US Revolving Borrowing”) (x) prior to 11:00 a.m. (New York time) on the requested Business Day of each Base Rate Borrowing and (y) prior to 11:00 a.m. (New York time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of US Revolving Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such US Revolving Loan comprising such Borrowing, (iv) the applicable Borrower, (v) the account of the applicable US Borrower to which the proceeds of such US Revolving Borrowing shall be credited and (vi) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each US Revolving Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower Representative may request. The aggregate principal amount of each Eurodollar Borrowing shall be not less than $2,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $1,000,000 or a larger multiple of $100,000; provided, that Base Rate Loans made pursuant to Section 2.4 or Section 2.5(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings under the US Revolving Commitments outstanding at any time exceed twelve. Promptly following the receipt of a Notice of US Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each US Lender of the details thereof and the Pro Rata Share of such US Lender’s of such US Revolving Borrowing.

Procedure for US Revolving Borrowings. The Borrower Representative shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each US Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of US Revolving Borrowing”) (x) prior to 11:00 a.m. (New York time) on the requested Business Day of each Base Rate Borrowing and (y) prior to 11:00 a.m. (New York time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of US Revolving Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the allocation of such Borrowing between Non-Extended US Revolving Commitments and Extended US Revolving Commitments pursuant to Section 2.2(d), (iv) the Type of such US Revolving Loan comprising such Borrowing, (ivv) the applicable Borrower, (vvi) the account of the applicable US Borrower to which the proceeds of such US Revolving Borrowing shall be credited and (vivii) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each US Revolving Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower Representative may request. The aggregate principal amount of each Eurodollar Borrowing shall be not less than $2,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $1,000,000 or a larger multiple of $100,000; provided, that Base Rate Loans made pursuant to Section 2.4 or Section 2.5(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings under the US Revolving Commitments outstanding at any time exceed twelve. Promptly following the receipt of a Notice of US Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each US Lender with a US Revolving Commitment in such Tranche of the details thereof and the Pro Rata Share of such US Lender’s of such US Revolving Borrowing. Notwithstanding the foregoing, the DnB NOR Loans shall be funded in the amount of the DnB NOR Commitments immediately upon this Agreement becoming effective, as a Eurodollar Rate Loan, without further requirement of delivering a Notice of US Revolving Borrowing.

Procedure for US Revolving Borrowings. The Borrower Representative shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each US Revolving Borrowing substantially in the form of Exhibit 2.3 (a “Notice of US Revolving Borrowing”) (x) prior to 11:00 a.m. (New York time) on the requested Business Day of each Base Rate Borrowing and (y) prior to 11:00 a.m. (New York time) three (3) Business Days prior to the requested date of each Eurodollar Borrowing. Each Notice of US Revolving Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such US Revolving Loan comprising such Borrowing, (iv) the applicable Borrower, (v) the account of the applicable US Borrower to which the proceeds of such US Revolving Borrowing shall be credited and (viv) in the case of a Eurodollar Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each US Revolving Borrowing shall consist entirely of Base Rate Loans or Eurodollar Loans, as the Borrower Representative may request. The aggregate principal amount of each Eurodollar Borrowing shall be not less than $2,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each Base Rate Borrowing shall not be less than $1,000,000 or a larger multiple of $100,000; provided, that Base Rate Loans made pursuant to Section 2.4 or Section 2.5(d) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings under the US Revolving Commitments outstanding at any time exceed twelve. Promptly following the receipt of a Notice of US Revolving Borrowing in accordance herewith, the Administrative Agent shall advise each US Lender of the details thereof and the Pro Rata Share of such US Lender’s Lender of such US Revolving Borrowing.

Procedure for US Revolving Borrowings. The U.S. Borrower Representative shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each US Revolving Borrowing to be made under the U.S. Facility substantially in the form of Exhibit 2.3 E (a “Notice of US Revolving U.S. Borrowing”) (x) prior to 11:00 a.m. 12:00 p.m. (New York time) on the requested Business Day date of each U.S. Base Rate Borrowing and (y) prior to 11:00 a.m. 12:00 p.m. (New York time) three (3) Business Days prior to the requested date of each Eurodollar U.S. LIBOR Borrowing. Each Notice of US Revolving U.S. Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such US Revolving Loan comprising such Borrowing, (iv) the applicable Borrower, (v) the account of the applicable US U.S. Borrower to which the proceeds of such US Revolving Borrowing shall should be credited and (viv) in the case of a Eurodollar U.S. LIBOR Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each US Revolving Borrowing made under the U.S. Facility shall consist entirely of U.S. Base Rate Loans Advances or Eurodollar LoansU.S. LIBOR Advances, as the U.S. Borrower Representative may request. The aggregate principal amount of each Eurodollar U.S. LIBOR Borrowing shall be not less than $2,000,000 5,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each U.S. Base Rate Borrowing shall not be less than $1,000,000 or a larger multiple of $100,000; provided, that any U.S. Base Rate Loans Borrowing made pursuant to Section 2.4 2.4(c) or Section 2.5(d2.5(e) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings under the US Revolving Commitments outstanding at any time under the U.S. Facility and bearing interest at the Adjusted LIBO Rate exceed twelveeight. Promptly following the receipt of a Notice of US Revolving U.S. Borrowing in accordance herewith, the Administrative Agent shall advise each US U.S. Lender of the details thereof and the Pro Rata Share amount of such US U.S. Lender’s U.S. Revolving Loan to be made as part of such US Revolving the requested Borrowing.

Procedure for US Revolving Borrowings. The U.S. Borrower Representative shall give the Administrative Agent written notice (or telephonic notice promptly confirmed in writing) of each US Revolving Borrowing to be made under the U.S. Facility substantially in the form of Exhibit 2.3 E (a “Notice of US Revolving U.S. Borrowing”) (x) prior to 11:00 a.m. 1:00 p.m. (New York time) on the requested Business Day date of each U.S. Base Rate Borrowing and (y) prior to 11:00 a.m. 1:00 p.m. (New York time) three (3) Business Days prior to the requested date of each Eurodollar U.S. LIBOR Borrowing. Each Notice of US Revolving U.S. Borrowing shall be irrevocable and shall specify: (i) the aggregate principal amount of such Borrowing, (ii) the date of such Borrowing (which shall be a Business Day), (iii) the Type of such US Revolving Loan comprising such Borrowing, (iv) the applicable Borrower, (v) the account of the applicable US U.S. Borrower to which the proceeds of such US Revolving Borrowing shall should be credited and (viv) in the case of a Eurodollar U.S. LIBOR Borrowing, the duration of the initial Interest Period applicable thereto (subject to the provisions of the definition of Interest Period). Each US Revolving Borrowing made under the U.S. Facility shall consist entirely of U.S. Base Rate Loans Advances or Eurodollar LoansU.S. LIBOR Advances, as the U.S. Borrower Representative may request. The aggregate principal amount of each Eurodollar U.S. LIBOR Borrowing shall be not less than $2,000,000 5,000,000 or a larger multiple of $1,000,000, and the aggregate principal amount of each U.S. Base Rate Borrowing shall not be less than $1,000,000 or a larger multiple of $100,000; provided, that any U.S. Base Rate Loans Borrowing made pursuant to Section 2.4 2.4(c) or Section 2.5(d2.5(e) may be made in lesser amounts as provided therein. At no time shall the total number of Eurodollar Borrowings under the US Revolving Commitments outstanding at any time under the U.S. Facility and bearing interest at the Adjusted LIBO Rate exceed twelve. Promptly following the receipt of a Notice of US Revolving U.S. Borrowing in accordance herewith, the Administrative Agent shall advise each US U.S. Lender of the details thereof and the Pro Rata Share amount of such US U.S. Lender’s U.S. Revolving Loan to be made as part of such US Revolving the requested Borrowing.