Common use of Termination of Lenders’ Obligations Clause in Contracts

Termination of Lenders’ Obligations. The occurrence and continuance of a Default or an Event of Default shall relieve the Lenders of all obligations to provide any further Drawdowns, Rollovers or Conversions to the Borrower hereunder; provided that the foregoing shall not prevent the Lenders or the Agent from disbursing money or effecting any Conversion which, by the terms hereof, they are entitled to effect, or any Conversion or Rollover requested by the Borrower and acceptable to all of the Lenders and the Agent.

Appears in 4 contracts

Samples: Credit Agreement (Potash Corp of Saskatchewan Inc), Revolving Term Credit Facility (Potash Corp of Saskatchewan Inc), Credit Agreement (Potash Corp of Saskatchewan Inc)

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Termination of Lenders’ Obligations. The occurrence and continuance of a Default or an Event of Default shall relieve the Lenders of all obligations to provide any further Drawdowns, Rollovers or Conversions to the Borrower hereunder; provided that the foregoing shall not prevent the Lenders or the Agent from disbursing money or effecting any Conversion which, by the terms hereof, they are entitled to effect, or any Conversion or Rollover requested by the Borrower and acceptable to all of the Lenders and the Agent.

Appears in 4 contracts

Samples: Credit Facilities (Hammerhead Energy Inc.), Credit Agreement (Hammerhead Energy Inc.), Credit Agreement (Pacific Energy Partners Lp)

Termination of Lenders’ Obligations. The occurrence and continuance of a Default or an Event of Default shall relieve the Lenders of all obligations to provide any further Drawdowns, Rollovers or Conversions to the Borrower hereunderhereunder during the continuance of the same; provided that the foregoing shall not prevent the Lenders or the Agent from disbursing money or effecting any Conversion which, by the terms hereof, they are entitled to effect, or any Conversion or Rollover requested by the Borrower and acceptable to all of the Lenders and the Agent.

Appears in 4 contracts

Samples: Credit Agreement (Enbridge Inc), Credit Agreement (Enbridge Inc), Credit Agreement (Enbridge Inc)

Termination of Lenders’ Obligations. The occurrence and During the continuance of a Default or an Event of Default shall relieve Default, the Lenders shall be relieved of all obligations to provide any further Drawdowns, Rollovers or Conversions to the Borrower hereunder; provided that the foregoing shall not prevent the Lenders or the Agent from disbursing money or effecting any Conversion which, by the terms hereof, they are entitled to effect, or any Conversion or Rollover requested by the Borrower and acceptable to all of the relevant Lenders and and/or the Agent.

Appears in 3 contracts

Samples: Credit Agreement (Greenfire Resources Ltd.), Credit Agreement (Obsidian Energy Ltd.), Credit Agreement (Obsidian Energy Ltd.)

Termination of Lenders’ Obligations. The occurrence and continuance of a Default or an Event of Default shall relieve the Lenders of all obligations to provide any further Drawdowns, Rollovers or Conversions to the any Borrower hereunder; provided that the foregoing shall not prevent the Lenders or the Agent from disbursing money or effecting any Conversion which, by the terms hereof, they are entitled to effect, or any Conversion or Rollover requested by the a Borrower and acceptable to all of the Lenders and the Agent.

Appears in 3 contracts

Samples: Credit Agreement (Baytex Energy Corp.), Credit Agreement (Baytex Energy Corp.), Credit Facilities (Baytex Energy Corp.)

Termination of Lenders’ Obligations. The occurrence and continuance of a Default or an Event of Default shall relieve the Lenders Lender of all obligations to provide any further Drawdowns, Rollovers or Conversions to the Borrower hereunder; provided that the foregoing shall not prevent the Lenders or the Agent Lender from disbursing money or effecting any Conversion which, by the terms hereof, they are it is entitled to effect, or any Conversion or Rollover requested by the Borrower and acceptable to all of the Lenders and the AgentLender.

Appears in 2 contracts

Samples: Credit Agreement (Powell Industries Inc), Credit Agreement (Powell Industries Inc)

Termination of Lenders’ Obligations. The occurrence and continuance of a Default or an Event of Default shall relieve the Lenders of all obligations to provide any further Drawdowns, Rollovers or Conversions to the Borrower hereunder; provided that the foregoing shall not prevent the Lenders or the Administrative Agent from disbursing money or effecting any Conversion which, by the terms hereof, they are entitled to effect, or any Conversion or Rollover requested by the Borrower and acceptable to all of the Lenders and the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Keyspan Corp)

Termination of Lenders’ Obligations. The occurrence and continuance of a Default or an Event of Default shall relieve the Lenders of all obligations to provide any further Drawdowns, Rollovers or Conversions to the any Borrower hereunder; provided that the foregoing shall not prevent the Lenders or the an Agent from disbursing money or effecting any Conversion which, by the terms hereof, they are entitled to effect, or any Conversion or Rollover requested by the a Borrower and acceptable to all of the applicable Lenders and the applicable Agent.

Appears in 1 contract

Samples: Credit Agreement (Nexen Inc)

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Termination of Lenders’ Obligations. The occurrence and continuance of a Default or an Event of Default shall relieve the Lenders of all obligations to provide any further Drawdowns, Rollovers or Conversions to the Borrower hereunder; provided that the foregoing shall not prevent the Lenders or the Agent from disbursing money or effecting any Conversion which, by the terms hereof, ; they are entitled to effect, or any Conversion or Rollover requested by the Borrower and acceptable to all of the Lenders and the Agent.

Appears in 1 contract

Samples: Credit Agreement (Trident Resources Corp)

Termination of Lenders’ Obligations. The Except to the extent specifically provided for in Section 6.2, the occurrence and continuance of a Default or an Event of Default shall relieve the Lenders of all obligations to provide any further Drawdowns, Rollovers or Conversions Drawdowns to the Borrower hereunder; provided that the foregoing shall not prevent the Lenders or the Agent from disbursing money or effecting any Conversion which, by the terms hereof, they are entitled to effect, or any Conversion or Rollover requested by the Borrower and acceptable to all of the Lenders and the Agent.

Appears in 1 contract

Samples: Subordinated Debt Agreement

Termination of Lenders’ Obligations. The occurrence and continuance of a Default or an Event of Default shall relieve the Lenders of all obligations to provide any further Drawdowns, Rollovers or Conversions to the each Borrower hereunderhereunder (but only for so long as such Default or Event of Default is continuing); provided that the foregoing shall not prevent the Lenders or the Agent from disbursing money or effecting any Conversion which, by the terms hereof, they are entitled to effect, or any Conversion or Rollover requested by the a Borrower and acceptable to all of the Lenders and the Agent.

Appears in 1 contract

Samples: Credit Agreement (Enerflex Ltd.)

Termination of Lenders’ Obligations. The occurrence and continuance of a Default or an Event of Default shall relieve the Lenders of all obligations to provide any further Drawdowns, Rollovers or Conversions to the either Borrower hereunder; provided that the foregoing shall not prevent the Lenders or the Agent from disbursing money or effecting any Conversion which, by the terms hereof, they are entitled to effect, or any Conversion or Rollover requested by the a Borrower and acceptable to all of the Lenders and the Agent.. 31150487.8

Appears in 1 contract

Samples: Credit Agreement (Baytex Energy Corp.)

Termination of Lenders’ Obligations. The occurrence and continuance of a Default or an Event of Default shall relieve the Lenders of all obligations to provide any further Drawdowns, Rollovers or Conversions to the either Borrower hereunder; provided that the foregoing shall not prevent the Lenders or the Agent from disbursing money or effecting any Conversion which, by the terms hereof, they are entitled to effect, or any Conversion or Rollover requested by the a Borrower and acceptable to all of the Lenders and the Agent.

Appears in 1 contract

Samples: Credit Agreement (Baytex Energy Corp.)

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