Rollovers. In the case of a Rollover of maturing Bankers' Acceptances, each Lender, in order to satisfy the continuing liability of the Borrower to each such Lender for the Face Amount of the maturing Bankers' Acceptances, will retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Rollover and the Borrower will, on the Maturity Date of the maturing Bankers' Acceptances, pay to the Agent for the benefit of each such Lender an amount equal to the difference between the Face Amount of the maturing Bankers' Acceptances and the aggregate Net Proceeds of the new Bankers' Acceptances.
Appears in 3 contracts
Samples: Credit Agreement (Harvest Operations Corp.), Credit Agreement (Harvest Operations Corp.), Credit Agreement (Harvest Operations Corp.)
Rollovers. In the case of a Rollover of maturing Bankers' ’ Acceptances, each Lender, in order to satisfy the continuing liability of the Borrower to each such the Lender for the Face Amount face amount of the maturing Bankers' ’ Acceptances, will retain for its own account the Net Proceeds of each new Bankers' ’ Acceptance issued by it in connection with such Rollover and the Borrower will, on the Maturity Date of the maturing Bankers' ’ Acceptances, pay to the Agent for the benefit of each such Lender the Lenders an amount equal to the difference between the Face Amount face amount of the maturing Bankers' ’ Acceptances and the aggregate Net Proceeds of the new Bankers' ’ Acceptances.
Appears in 3 contracts
Samples: Credit Agreement (Obsidian Energy Ltd.), Credit Agreement (Penn West Energy Trust), Credit Agreement (Clean Harbors Inc)
Rollovers. In the case of a Rollover of maturing Bankers' Acceptances, each Lender, in order to satisfy the continuing liability of the Borrower to each such the Lender for the Face Amount of the maturing Bankers' Acceptances, will retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Rollover and the Borrower will, on the Maturity Date of the maturing Bankers' Acceptances, pay to the Agent for the benefit of each such Lender the Lenders an amount equal to the difference between the Face Amount of the maturing Bankers' Acceptances and the aggregate Net Proceeds of the new Bankers' Acceptances.
Appears in 2 contracts
Samples: Bridge Credit Agreement (Harvest Energy Trust), Credit Agreement (Harvest Energy Trust)
Rollovers. In the case of a Rollover of maturing Bankers' ’ Acceptances, each LenderLender under the applicable Tranche, in order to satisfy the continuing liability of the Borrower to each such the Lender for the Face Amount face amount of the maturing Bankers' ’ Acceptances, will retain for its own account the Net Proceeds of each new Bankers' ’ Acceptance issued by it in connection with such Rollover and the Borrower will, on the Maturity Date of the maturing Bankers' ’ Acceptances, pay to the Agent for the benefit of each such Lender the Lenders under the applicable Tranche an amount equal to the difference between the Face Amount face amount of the maturing Bankers' ’ Acceptances and the aggregate Net Proceeds of the new Bankers' ’ Acceptances.
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Rollovers. In the case of a Rollover of maturing Bankers' Acceptances, each Lender, in order to satisfy the continuing liability of the Borrower to each such the Lender for the Face Amount face amount of the maturing Bankers' Acceptances, will retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Rollover and the Borrower will, on the Interest Period Maturity Date of the maturing Bankers' Acceptances, pay to the Agent for the benefit of each such Lender the Lenders an amount equal to the difference between the Face Amount face amount of the maturing Bankers' Acceptances and the aggregate Net Proceeds of the new Bankers' Acceptances.
Appears in 1 contract
Samples: Credit Agreement (ENERPLUS Corp)
Rollovers. In the case of a Rollover of maturing Bankers' Acceptances, each Lender, in order to satisfy the continuing liability of the Borrower to each such Lender for the Face Amount face amount of the maturing Bankers' Acceptances, will retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Rollover and the Borrower will, on the Maturity Date of the maturing Bankers' Acceptances, pay to the Agent for the benefit of each such Lender the Lenders an amount equal to the difference between the Face Amount face amount of the maturing Bankers' Acceptances and the aggregate Net Proceeds of the new Bankers' Acceptances.
Appears in 1 contract
Samples: Credit Agreement
Rollovers. In the case of a Rollover of maturing Bankers' Acceptances, each Lender, in order to satisfy the continuing liability of the Borrower to each such the Lender for the Face Amount face amount of the maturing Bankers' Acceptances, will retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Rollover and the Borrower will, on the Maturity Date of the maturing Bankers' Acceptances, pay to the Agent for the benefit of each such Lender the Lenders an amount equal to the difference between the Face Amount face amount of the maturing Bankers' Acceptances and the aggregate Net Proceeds of the new Bankers' Acceptances.
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Rollovers. In the case of a Rollover of maturing Bankers' ’ Acceptances, each LenderLender under the applicable Tranche, in order to satisfy the continuing liability of the Borrower to each such Lender for the Face Amount face amount of the maturing Bankers' ’ Acceptances, will retain for its own account the Net Proceeds of each new Bankers' ’ Acceptance issued by it in connection with such Rollover and the Borrower will, on the Maturity Date of the maturing Bankers' ’ Acceptances, pay to the Agent for the benefit of each such Lender the Lenders under the applicable Tranche an amount equal to the difference between the Face Amount face amount of the maturing Bankers' ’ Acceptances and the aggregate Net Proceeds of the new Bankers' ’ Acceptances.
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Rollovers. In the case of a Rollover of maturing Bankers' ’ Acceptances, each Lender, in order to satisfy the continuing liability of the Borrower to each such the Lender for the Face Amount face amount of the maturing Bankers' ’ Acceptances, will retain for its own account the Net Proceeds of each new Bankers' ’ Acceptance issued by it in connection with such Rollover and the Borrower will, on the Maturity Date of the maturing Bankers' ’ Acceptances, pay to the Agent for the benefit of each such Lender the Lenders an amount equal to the difference between the Face Amount face amount of the maturing Bankers' ’ Acceptances and the aggregate Net Proceeds of the new Bankers' AcceptancesBankers’Acceptances.
Appears in 1 contract
Samples: Credit Agreement (Protective Products of America, Inc.)
Rollovers. In the case of a Rollover of maturing Bankers' Acceptances, each Lender, in order to satisfy the continuing liability of the Borrower to each such the Lender for the Face Amount face amount of the maturing Bankers' Acceptances, will retain for its own account the Net Proceeds of each new Bankers' Acceptance issued by it in connection with such Rollover and the Borrower will, on the Interest Period Maturity Date of the maturing Bankers' Acceptances, pay to the Agent for the benefit of each such Lender the Lenders an amount equal to the difference between the Face Amount face amount of the maturing Bankers' Acceptances and the aggregate Net Proceeds of the new Bankers' Acceptances.
Appears in 1 contract
Samples: Credit Agreement (ENERPLUS Corp)