Repayment of Revolving Facility Loans. (a) Each Borrower which has drawn a Revolving Facility Loan shall repay that Loan on the last day of its Interest Period. (b) Without prejudice to each Borrower’s obligation under paragraph (a) above, if: (i) one or more Revolving Facility Loans are to be made available to a Borrower: (A) on the same day that a maturing Loan under the same Facility is due to be repaid by that Borrower; and (B) in whole or in part for the purpose of refinancing the maturing Revolving Facility Loan; and (ii) the proportion borne by each Lender’s participation in the maturing Revolving Facility Loan to the amount of that maturing Revolving Facility Loan is the same as the proportion borne by that Lender’s participation in the new Revolving Facility Loan(s) to the aggregate amount of those new Revolving Facility Loan(s), the aggregate amount of the new Revolving Facility Loan(s) shall, unless the relevant Borrower notifies the Agent to the contrary in the relevant Utilisation Request, be treated as if applied in or towards repayment of the maturing Revolving Facility Loan so that:
Appears in 3 contracts
Samples: Term and Revolving Facilities Agreement (KNOT Offshore Partners LP), Term and Revolving Facilities Agreement (KNOT Offshore Partners LP), Term and Revolving Facilities Agreement
Repayment of Revolving Facility Loans. (a) Each Subject to paragraph (c) below, each Borrower which has drawn a Revolving Facility Loan shall repay that Loan on the last day of its Interest Period.
(b) Without prejudice to each Borrower’s obligation under paragraph (a) above, if:
(i) if one or more Revolving Facility Loans are to be made available to a Borrower:
(Ai) on the same day that a maturing Revolving Facility Loan under the same Facility is due to be repaid by that Borrower;
(ii) in the same currency as the maturing Revolving Facility Loan (unless it arose as a result of the operation of Clause 8.2 (Unavailability of a currency)); and
(Biii) in whole or in part for the purpose of refinancing the maturing Revolving Facility Loan; and
(ii) the proportion borne by each Lender’s participation in the maturing Revolving Facility Loan to the amount of that maturing Revolving Facility Loan is the same as the proportion borne by that Lender’s participation in the new Revolving Facility Loan(s) to the aggregate amount of those new Revolving Facility Loan(s), the aggregate amount of the new Revolving Facility Loan(s) shall, unless the relevant Borrower notifies the Agent to the contrary in the relevant Utilisation Request, Loans shall be treated as if applied in or towards repayment of the maturing Revolving Facility Loan so that:
(A) if the amount of the maturing Revolving Facility Loan exceeds the aggregate amount of the new Revolving Facility Loans:
Appears in 2 contracts
Samples: Revolving Facility Agreement (South Texas Supply Company, Inc.), Revolving Facility Agreement (South Texas Supply Company, Inc.)
