Common use of Repayment of Outstanding Revolving Credit Loans; Borrowing of New Revolving Credit Loans Clause in Contracts

Repayment of Outstanding Revolving Credit Loans; Borrowing of New Revolving Credit Loans. On the effective date of each Revolving Commitment Increase, the Borrower shall (x) repay the Revolving Credit Loans then outstanding to each of the Current Lenders to the extent necessary so that after giving effect to the Revolving Commitment Increases each Current Lender that is a Revolving Lender will have its Ratable Share of the outstanding Revolving Credit Loans, subject to the Borrower’s indemnity obligations under Section 5.10 [Indemnity] and (y) borrow Revolving Credit Loans from Incremental Lenders to the extent necessary so that after giving effect to the Revolving Commitment Increases, each such Revolving Lender will have its Ratable Share of the outstanding Revolving Credit Loans. To facilitate the foregoing, the Borrower may, subject to its compliance with the other terms of this Agreement, borrow new Revolving Credit Loans on the effective date of such increase. The Revolving/TLA Administrative Agent is hereby authorized to update Schedule 1.1(B) to reflect the increase in Revolving Credit Commitments.

Appears in 5 contracts

Samples: Credit Agreement (CONSOL Energy Inc.), Credit Agreement (CONSOL Energy Inc.), Credit Agreement (CONSOL Energy Inc.)

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Repayment of Outstanding Revolving Credit Loans; Borrowing of New Revolving Credit Loans. On the effective date of each Incremental Revolving Commitment IncreaseCredit Commitment, the Borrower shall (x) repay the Revolving Credit Loans then outstanding to each of the Current Lenders to the extent necessary so that after giving effect to the Incremental Revolving Commitment Increases Credit Commitments each Current Lender that is a Revolving Lender will have its Ratable Share of the outstanding Revolving Credit Loans, subject to the Borrower’s indemnity obligations under Section 5.10 5.9 [Indemnity] and (y) borrow Revolving Credit Loans from Incremental Lenders to the extent necessary so that after giving effect to the Incremental Revolving Commitment IncreasesCredit Commitments, each such Revolving Lender will have its Ratable Share of the outstanding Revolving Credit Loans. To facilitate the foregoing, the Borrower may, subject to its compliance with the other terms of this Agreement, borrow new Revolving Credit Loans on the effective date of such increase. The Revolving/TLA Administrative Agent is hereby authorized to update Schedule 1.1(B) to reflect the increase in Revolving Credit Commitments.

Appears in 4 contracts

Samples: Credit Agreement, Credit Agreement (CNX Coal Resources LP), Credit Agreement (CNX Coal Resources LP)

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Repayment of Outstanding Revolving Credit Loans; Borrowing of New Revolving Credit Loans. On the effective date of each Revolving Commitment Increasesuch increase, the Borrower shall (x) repay the Revolving Credit Loans then outstanding to each of the Current Lenders to the extent necessary so that after giving effect to the increase in the Revolving Commitment Increases Credit Commitments each Current Lender that is a Revolving Lender will have its Revolving Ratable Share of the outstanding Revolving Credit Loans, subject to the Borrower’s indemnity obligations under Section 5.10 5.9 [Indemnity] and (y) borrow Revolving Credit Loans from Incremental Increasing Lenders and New Lenders to the extent necessary so that after giving effect to the increase in the Revolving Commitment IncreasesCredit Commitments, each such Revolving Lender will have its Revolving Ratable Share of the outstanding Revolving Credit Loans. To facilitate the foregoing, the Borrower may, subject to its compliance with the other terms of this Agreement, borrow new Revolving Credit Loans on the effective date of such increase. The Revolving/TLA Administrative Agent is hereby authorized to update Schedule 1.1(B) to reflect the increase in Revolving Credit Commitments.

Appears in 1 contract

Samples: Credit Agreement (CNX Resources Corp)

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