Repayment of each Drawing. The Borrowers agree to repay each Drawing to the Agent for the account of the Lenders on the last day of the Interest Period in respect of that Drawing unless the Borrowers select a further Interest Period for that Drawing in accordance with Clause 7, provided that the Borrowers shall not be permitted to select such a further Interest Period if a Default has occurred and shall then be obliged to repay such Drawing on the last day of its then current Interest Period. The Borrowers shall on the Maturity Date repay to the Agent as agent for the Lenders all Facility Outstandings.
Appears in 6 contracts
Samples: Facility Agreement, Facility Agreement (Teekay Corp), Facility Agreement (Teekay LNG Partners L.P.)
Repayment of each Drawing. The Borrowers agree Borrower agrees to repay each Drawing to the Agent for the account of the Lenders on the last day of the Interest Period in respect of that Drawing unless the Borrowers select Borrower selects a further Interest Period for that Drawing in accordance with Clause 7, 7 provided that the Borrowers Borrower shall not be permitted to select such a further Interest Period if a Default has occurred and shall then be obliged to repay such Drawing on the last day of its then current Interest Period. The Borrowers Borrower shall on the Maturity Date repay to the Agent as agent for the Lenders all Facility Outstandings.
Appears in 3 contracts
Samples: Loan Agreement, Loan Agreement (Teekay Shipping Corp), Loan Agreement (Teekay Offshore Partners L.P.)
