Common use of Term Loan Request Clause in Contracts

Term Loan Request. Each Term Loan Request from the Borrower pursuant to this Section 2.09 shall set forth the requested amount and proposed terms of the relevant Term Loans. Any Lender who receives a Term Loan Request that has not communicated its desire to provide any such new Term Commitments in writing to the Administrative Agent and the Borrower within ten (10) Business Days following receipt of such Term Loan Request shall be deemed to have declined to participate in providing Term Commitments in respect of such Term Loan Request. It is understood that final allocations of the Term Commitments in respect of each Term Loan Request shall be made at the Borrower’s election in consultation with the Administrative Agent. Term Loans may be made only by one or more Lenders that are already Lenders hereunder at the time such Term Loan Request is made (but no existing Lender will have an obligation to make any Term Commitment) or by any other bank or other financial institution (any such other bank or other financial institution being called an “Additional Term Lender”); provided that (i) the Administrative Agent shall have consented (not to be unreasonably withheld or delayed) to the identity of the Lender or Additional Term Lender that is making such Term Loans or providing such Term Commitments to the extent such consent, if any, would be required under Section 12.04 for an assignment of Loans to such Lender or Additional Term Lender, (ii) any Additional Term Lender at the time such Term Loans are made or such Term Commitments are provided shall be a commercial bank that is then actively engaged in oil and gas reserve-based lending governed by a borrowing base, as a revolving lender, in the ordinary course of its business, and the applicable Term Loan Amendment shall contain a representation by such Additional Term Lender confirming the foregoing as set forth in this clause (ii), and (iii) no Additional Term Lender shall be the Borrower, an Affiliate of Borrower or a natural person.

Term Loan Request. Each Except as otherwise provided herein, the Borrower may request the Lenders to make the Term Loan Request from or renew or convert the Borrower Interest Rate Option applicable to the Term Loan pursuant to this Section 2.09 shall set forth the requested amount and proposed terms of the relevant Term Loans. Any Lender who receives a Term Loan Request that has not communicated its desire to provide any such new Term Commitments in writing 4.2 [Interest Periods], by delivering to the Administrative Agent and the Borrower within ten Agent, not later than 10:00 a.m., New York time, (10i) three (3) Business Days following prior to the proposed Borrowing Date with respect to the making of the portion of the Term Loan to which the LIBOR Rate Option applies or the date of conversion to or the renewal of the LIBOR Rate Option for any such portion of the Term Loan; and (ii) one (1) Business Day prior to either the proposed Borrowing Date with respect to the making of the portion of the Term Loan to which the Base Rate Option applies or the last day of the preceding Interest Period with respect to the conversion to the Base Rate Option for any such portion of the Term Loan, of a Loan Request therefor duly completed by an Authorized Officer substantially in the form of Exhibit 2.4 or a Loan Request by telephone immediately confirmed in writing by letter, facsimile or telex in the form of such Exhibit, it being understood that the Agent may rely on the authority of any individual making such a telephonic request without the necessity of receipt of such Term written confirmation, provided such individual purports to be an Authorized Officer. Each Loan Request shall be deemed to have declined to participate in providing Term Commitments in respect of such Term Loan Request. It is understood that final allocations of the Term Commitments in respect of each Term Loan Request irrevocable and shall be made at the Borrower’s election in consultation with the Administrative Agent. Term Loans may be made only by one or more Lenders that are already Lenders hereunder at the time such Term Loan Request is made (but no existing Lender will have an obligation to make any Term Commitment) or by any other bank or other financial institution (any such other bank or other financial institution being called an “Additional Term Lender”); provided that specify (i) the Administrative Agent shall have consented (not to be unreasonably withheld or delayed) to the identity of the Lender or Additional Term Lender that is making such Term Loans or providing such Term Commitments to the extent such consent, if any, would be required under Section 12.04 for an assignment of Loans to such Lender or Additional Term Lender, proposed Borrowing Date; (ii) any Additional the aggregate amount of the proposed portion of the Term Lender at Loan comprising each Borrowing Tranche, the time such Term Loans are made or such Term Commitments are provided amount of which shall be a commercial bank that is then actively engaged in oil integral multiples of $1,000,000 and gas reserve-based lending governed by a borrowing base, as a revolving lender, not less than $3,000,000 for each Borrowing Tranche to which the LIBOR Rate Option applies and not less than the lesser of $1,000,000 and in integral multiples of $100,000 or the ordinary course of its business, and maximum amount available for Borrowing Tranches to which the applicable Term Loan Amendment shall contain a representation by such Additional Term Lender confirming the foregoing as set forth in this clause (ii), and Base Rate Option applies; (iii) no Additional whether the LIBOR Rate Option or Base Rate Option shall apply to the portion of the Term Lender shall be Loan comprising the Borrowerapplicable Borrowing Tranche; and (iv) in the case of a Borrowing Tranche to which the LIBOR Rate Option applies, an Affiliate appropriate Interest Period for the portion of Borrower or a natural personthe Term Loan comprising such Borrowing Tranche.

Term Loan Request. Each Term Loan Request from the Borrower pursuant to this Section 2.09 2.17 shall set forth the requested amount and proposed terms of the relevant Term Loans. Any Lender who receives a Term Loan Request that has not communicated its desire to provide any such new Term Commitments in writing to the Administrative Agent and the Borrower within ten (10) Business Days following receipt of such Term Loan Request shall be deemed to have declined to participate in providing Term Commitments in respect of such Term Loan Request. It is understood that final allocations of the Term Commitments in respect of each Term Loan Request shall be made at the Borrower’s election in consultation with the Administrative Agent. Term Loans may be made only by one or more Lenders that are already Lenders hereunder at the time such Term Loan Request is made (but no existing Lender will have an obligation to make any Term Commitment) or by any other bank or other financial institution (any such other bank or other financial institution being called an “Additional Term Lender”); provided that (i) the Administrative Agent shall have consented (such consent not to be unreasonably withheld or delayed) to the identity of the Lender or Additional Term Lender that is making such Term Loans or providing such Term Commitments to the extent such consent, if any, would be required under Section 12.04 13.6 for an assignment of Loans to such Lender or Additional Term Lender, (ii) any Additional Term Lender at the time such Term Loans are made or such Term Commitments are provided shall be a commercial bank that is then actively engaged in oil and gas reserve-based lending governed by a borrowing base, as a revolving lender, in the ordinary course of its business, and the applicable Term Loan Amendment shall contain a representation by such Additional Term Lender confirming the foregoing as set forth in this clause (ii), and (iii) no Additional Term Lender shall be the Borrower, an Affiliate of the Borrower or a natural person.

Term Loan Request. Each Term Loan Request from the Borrower pursuant to this Section 2.09 2.17 shall set forth the requested amount and proposed terms of the relevant Term Loans. Any Lender who receives a Each Bank shall have not less than ten (10) Business Days from the date on which notice of such Term Loan Request was provided by Administrative Agent to such Bank to provide in writing to Administrative Agent and Borrower, in its sole discretion, an indication of its interest to provide Term Commitments on the terms set forth in such Term Loan Request, which indication of interest shall (i) set forth the maximum portion of the new Term Commitments in respect of such Term Loan Request that such Bank is willing to provide and (ii) be subject in all respects to such Bank’s approval of the applicable Term Loan Amendment documentation. Any Bank that has not communicated its desire to provide any such new Term Commitments in writing to the Administrative Agent and the Borrower within such ten (10) Business Days following receipt of such Term Loan Request Day period shall be deemed to have declined to participate in providing Term Commitments in respect of such Term Loan Request. It is Notwithstanding the foregoing, any such indication of interest by a Bank to provide any new Term Commitments in response to a Term Loan Request shall not assure any such Bank that it will be allocated any such Term Commitments, it being understood that final allocations of the Term Commitments in respect of each Term Loan Request shall be made at the Borrower’s election in consultation with the Administrative Agent. Term Loans may be made only by one or more Lenders that are already Lenders hereunder at the time such Term Loan Request is made any existing Bank (but no existing Lender Bank will have an obligation to make any Term Commitment) or by any other bank or other financial institution (any such other bank or other financial institution being called an “Additional Term LenderBank”); provided that (i) the Administrative Agent shall have consented (not to be unreasonably withheld or delayed) to the identity of the Lender Bank or Additional Term Lender Bank that is making such Term Loans or providing such Term Commitments to the extent such consent, if any, would be required under Section 12.04 14.2 for an assignment of Loans to such Lender Bank or Additional Term LenderBank, (ii) any Additional Term Lender Bank at the time such Term Loans are made or such Term Commitments are provided shall be a commercial bank that is then actively engaged in oil and gas reserve-based lending governed by a borrowing base, as a revolving lender, in the ordinary course of its business, and the applicable Term Loan Amendment shall contain a representation by such Additional Term Lender Bank confirming the foregoing as set forth in this clause (ii)) and confirming that such Additional Term Bank has no present intention to assign or sell participations in its Term Loans, and (iii) no Additional Term Lender Bank shall be the Borrower, an Affiliate of Borrower or a natural person.

Term Loan Request. Each Term Loan Request from the Borrower pursuant to this Section 2.09 2.11 shall set forth the requested amount and proposed terms of the relevant Term Loans. Any Lender who receives a Term Loan Request that has not communicated its desire to provide any such new Term Commitments in writing to the Administrative Agent and the Borrower within ten (10) Business Days following receipt of such Term Loan Request shall be deemed to have declined to participate in providing Term Commitments in respect of such Term Loan Request. It is understood that final allocations of the Term Commitments in respect of each Term Loan Request shall be made at the Borrower’s election in consultation with the Administrative Agent. Term Loans may be made only by one or more Lenders that are already Lenders hereunder at the time such Term Loan Request is made (but no existing Lender will have an obligation to make any Term Commitment) or by any other bank or other financial institution (any such other bank or other financial institution being called an “Additional Term Lender”); provided that (i) the Administrative Agent shall have consented (not to be unreasonably withheld or delayed) to the identity of the Lender or Additional Term Lender that is making such Term Loans or providing such Term Commitments to the extent such consent, if any, would be required under Section 12.04 for an assignment of Loans to such Lender or Additional Term Lender, (ii) any Additional Term Lender at the time such Term Loans are made or such Term Commitments are provided shall be a commercial bank that is then actively engaged in oil and gas reserve-based lending governed by a borrowing base, as a revolving lender, in the ordinary course of its business, and the applicable Term Loan Amendment shall contain a representation by such Additional Term Lender confirming the foregoing as set forth in this clause (ii), and (iii) no Additional Term Lender shall be the Borrower, an Affiliate of Borrower or a natural person.. (d)

Term Loan Request. Each Term Loan Request from the Borrower pursuant to this Section 2.09 2.13 shall set forth the requested amount and proposed terms of the relevant Term Loans. Any Lender who receives a Term Loan Request that has not communicated its desire to provide any such new Term Commitments in writing to the Administrative Agent and the Borrower within ten (10) Business Days following receipt after the date of such Term Loan Request shall be deemed to have declined to participate in providing Term Commitments in respect of such Term Loan Request. It is understood that final allocations of the Term Commitments in respect of each Term Loan Request shall be made at the Borrower’s election in consultation with the Administrative Agent. Term Loans may be made only by one or more Lenders that are already Lenders hereunder at the time such Term Loan Request is made (but no existing Lender will have an obligation to make any Term Commitment) or by any other bank or other financial institution (any such other bank or other financial institution being called an “Additional Term Lender”); provided that (i) the Administrative Agent shall have consented (not to be unreasonably withheld or delayed) to the identity of the Lender or Additional Term Lender that is making such Term Loans or providing such Term Commitments to the extent such consent, if any, would be required under Section 12.04 13.7 for an assignment of Loans to such Lender or Additional Term Lender, (ii) any Additional Term Lender at the time such Term Loans are made or such Term Commitments are provided shall be a commercial bank or other financial institution that is then actively engaged in oil and gas reserve-based lending governed by a borrowing base, as a revolving lender, base in the ordinary course of its business, and the applicable Term Loan Amendment shall contain a representation by such Additional Term Lender confirming the foregoing as set forth in this clause (ii), and (iii) no Additional Term Lender shall be the Borrower, an Affiliate of Borrower or a natural person.. MRC Energy Company Credit Agreement 59

Term Loan Request. Each Term Loan Request from the Borrower pursuant to this Section 2.09 2.11 shall set forth the requested amount and proposed terms of the relevant Term Loans. Any Lender who receives a Each Bank shall have not less than ten (10) Business Days from the date on which notice of such Term Loan Request was provided by the Administrative Agent to such Bank to provide in writing to the Administrative Agent and the Borrower, in its sole discretion, an indication of its interest to provide New Term Commitments on the terms set forth in such Term Loan Request, which indication of interest shall (i) set forth the maximum portion of the New Term Commitments in respect of such Term Loan Request that such Bank is willing to provide and (ii) be subject in all respects to such Bank’s approval of the applicable Term Loan Amendment documentation. Any Bank that has not communicated its desire to provide any such new New Term Commitments in writing to the Administrative Agent and the Borrower within such ten (10) Business Days following receipt of such Term Loan Request Day period shall be deemed to have declined to participate in providing New Term Commitments in respect of such Term Loan Request. It is Notwithstanding the foregoing, any such indication of interest by a Bank to provide any New Term Commitments in response to a Term Loan Request shall not assure any such Bank that it will be allocated any such New Term Commitments, it being understood that final allocations of the New Term Commitments in respect of each Term Loan Request shall be made at the Borrower’s election in consultation with the Administrative Agent. Term Loans may be made only by one or more Lenders that are already Lenders hereunder at the time such Term Loan Request is made any existing Bank (but no existing Lender Bank will have an obligation to make any New Term Commitment) or by any other bank or other financial institution (any such other bank or other financial institution being called an “Additional Term LenderBank”); provided that (i) the Administrative Agent shall have consented (not to be unreasonably withheld or delayed) to the identity of the Lender Bank or Additional Term Lender Bank that is making such Term Loans or providing such New Term Commitments to the extent such consent, if any, would be required under Section 12.04 12.02 for an assignment of Loans to such Lender Bank or Additional Term LenderBank, (ii) any Additional Term Lender Bank at the time such Term Loans are made or such New Term Commitments are provided shall be a commercial bank that is then actively engaged in oil and gas reserve-based lending governed by a borrowing base, as a revolving lender, in the ordinary course of its business, and the applicable Term Loan Amendment shall contain a representation by such Additional Term Lender Bank confirming the foregoing as set forth in this clause (ii)) and confirming that such Additional Term Bank has no present intention to assign or sell participations in its Term Loans, and (iii) no Additional Term Lender Bank shall be the Borrower, an Affiliate of the Borrower or a natural person (or a holding company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person).