Tranche B. Each Tranche B Lender severally agrees, on the terms and conditions hereinafter set forth, to make Tranche B Revolving Credit Advances denominated in any Committed Currency to any Borrower from time to time on any Business Day during the period from the Effective Date until the Termination Date applicable to such Lender in an amount (based in respect of any Tranche B Revolving Credit Advances to be denominated in a Committed Currency by reference to the Equivalent thereof in Dollars determined on the date of delivery of the applicable Notice of Revolving Credit Borrowing) not to exceed such Lender’s Unused Tranche B Commitment. Each Revolving Credit Borrowing under the Tranche B Facility shall be in an amount not less than the Revolving Credit Borrowing Minimum or the Revolving Credit Borrowing Multiple in excess thereof and shall consist of Eurocurrency Rate Advances in the same currency made on the same day by the Lenders ratably according to their respective Tranche B Revolving Credit Commitments. Within the limits of each Lender’s Tranche B Revolving Credit Commitment, any Borrower may borrow under this Section 2.01(a)(ii), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(a)(ii).
Tranche B. Subject to the terms and conditions hereof, each Lender agrees to make loans to US Borrower (herein called such Lender's "Tranche B Loans") upon US Borrower's request from time to time during the Tranche B Revolving Period, provided that (i) subject to Sections 3.3, 3.4 and 3.5, all Lenders are requested to make Tranche B Loans of the same Type in accordance with their respective Percentage Shares and as part of the same Borrowing, (ii) such Lender's Percentage Share of the US Facility Usage shall never exceed such Lender's Percentage Share of the US Maximum Credit Amount, and (iii) such Lender's Percentage Share of the Tranche B Facility Usage shall never exceed such Lender's Percentage Share of the Tranche B Maximum Credit Amount. The aggregate amount of all Tranche B Loans in any Borrowing must be an integral multiple of US $100,000 which equals or exceeds US $200,000 or must equal the unadvanced portion of the US Maximum Credit Amount. The obligation of US Borrower to repay to each Lender the aggregate amount of all Tranche B Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender's "Tranche B Note") made by US Borrower payable to the order of such Lender in the form of Exhibit A-2 with appropriate insertions. The amount of principal owing on any Lender's Tranche B Note at any given time shall be the aggregate amount of all Tranche B Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Tranche B Note. Interest on each Tranche B Note shall accrue and be due and payable as provided herein and therein. Each Tranche B Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Tranche B Maturity Date. Subject to the terms and conditions hereof, US Borrower may borrow, repay, and reborrow Tranche B Loans under the US Agreement during the Tranche B Revolving Period. US Borrower may have no more than ten Borrowings of US Dollar Eurodollar Loans (including Tranche A Loans and Tranche B Loans) outstanding at any time.
Tranche B. Each Tranche B Swing Line Bank severally agrees, on the terms and conditions hereinafter set forth, to make Tranche B Swing Line Advances (x) denominated in Dollars to any Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to the Tranche B Swing Line Bank (A) in an aggregate amount not to exceed at any time outstanding the Tranche B Swing Line Subfacility (Dollar) and (B) in an amount for each such Advance not to exceed an amount equal to the Unused Tranche B Commitments of the Tranche B Lenders on such Business Day and (y) denominated in Euros to any Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to the Tranche B Swing Line Bank (A) in an aggregate amount not to exceed at any time outstanding the Tranche B Swing Line Subfacility (Euro) and (B) in an amount for each such Advance not to exceed an amount equal to the Unused Tranche B Commitments of the Tranche B Lenders on such Business Day. Each Tranche B Swing Line Borrowing shall be in an amount of (1) in the case of the Tranche B Swing Line Subfacility (Dollar), $5,000,000 or an integral multiple of $1,000,000 in excess thereof or (2) in the case of the Tranche B Swing Line Subfacility (Euro), €5,000,000 or an integral multiple of €1,000,000 in excess thereof and, in each case, shall consist of Eurocurrency Rate Advances made on the same day by the Tranche B Swing Line Banks ratably according to their respective Tranche B Swing Line Commitments. Within the limits of the Tranche B Swing Line Subfacility (Dollar) and the Tranche B Swing Line Subfacility (Euro) and within the limits referred to in clauses (x)(B) and (y)(B) above, the Borrowers may borrow under this Section 2.01(b)(ii), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(b)(ii).
Tranche B. The Borrower shall repay to the Administrative Agent for the ratable benefit of the Lenders the outstanding principal amount of all Tranche B Advances, together with any accrued interest thereon, as follows: (i) if the Borrowing Base is increased due to a redetermination made under Section 2.02, on the Tranche B Initial Payment Date with the proceeds of a Tranche A Borrowing, in an amount equal to such increase; (ii) on September 2, 2004, in an amount equal to one-half of the principal amount of all Tranche B Advances which were outstanding on the Tranche B Initial Payment Date after giving effect to any payment made by the Borrower on such date as required under clause (i) above; and (iii) on the Tranche B Maturity Date or such earlier date pursuant to Section 7.02 or Section 7.03, the outstanding principal amount of the Tranche B Advances. Each such payment shall be made together with all accrued, unpaid interest on the Tranche B Advances through the payment date.
Tranche B. On the Closing Date, at the request of the Borrower Representative, the Issuing Lender shall, on terms and conditions hereinafter set forth, issue the Tranche B Letter of Credit. Notwithstanding anything herein or in any Letter of Credit Document to the contrary, the Tranche B Letter of Credit may not be increased or extended.
Tranche B. Upon the date of the issuance of the Tranche B Letter of Credit, the Issuing Lender shall be deemed to have sold to each other Tranche B Lender and each other Tranche B Lender shall have been deemed to have purchased from the Issuing Lender a participation in the related Letter of Credit Obligations equal to such Tranche B Lender’s Tranche B Commitment and such sale and purchase shall otherwise be in accordance with the terms of this Agreement.
Tranche B. The Borrowers hereby agree to pay to the Issuing Lender an amount equal to any amount paid by the Issuing Lender under the Tranche B Letter of Credit, which amount shall be due and payable on demand given by the Issuing Lender to the Borrower Representative. In the event the Issuing Lender makes a payment pursuant to a request for draw presented under the Tranche B Letter of Credit and such payment is not promptly reimbursed by the Borrowers upon demand, the Issuing Lender shall give the Administrative Agent notice of the Borrowers’ failure to make such reimbursement and may request that the Tranche B Lenders fund its risk participation in the Tranche B Letter of Credit. If such request is made by the Issuing Lender, the Administrative Agent shall promptly notify each Tranche B Lender of such request and the amount necessary to fund such Tranche B Lender’s risk participation in the Tranche B Letter of Credit. Upon such notice from the Administrative Agent, each Tranche B Lender shall promptly fund such risk participation directly to the Issuing Lender. If such funding is not made by any Tranche B Lender to the Issuing Lender on the same day on which the Administrative Agent notifies such Tranche B Lender to fund its risk participation to the Issuing Lender hereunder, such Tranche B Lender shall pay interest on the unpaid amount to the Issuing Lender at a rate per annum equal to the Federal Funds Rate.
Tranche B. The Borrower may not deliver a Drawdown Notice if as a result of the proposed Advance more than five Tranche B Advances would be outstanding.
Tranche B. The Borrower must pay to the Facility Agent on account of the Financiers proportionally to their respective Tranche B Commitments an unused commitment fee in US Dollars at a per annum rate equal to 30% of the Margin on the daily unutilised balance of the Tranche B Commitment. This fee:
(i) accrues daily from the date of this agreement up to and including the Final Termination Date;
(ii) is calculated on the basis of the actual number of days elapsed and of a 360 day year; and
(iii) is payable in arrears, on the last day of each calendar month, and on the Final Termination Date or, if earlier, on the day on which the Tranche B Commitment reduces to zero.
Tranche B. The Tranche B Swing Line Bank severally agrees, on the terms and conditions hereinafter set forth, to make Tranche B Swing Line Advances denominated in Euros to any Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date applicable to the Tranche B Swing Line Bank (A) in an aggregate amount not to exceed at any time outstanding the Tranche B Swing Line Subfacility and (B) in an amount for each such Advance not to exceed an amount equal to the Unused Tranche B Commitments of the Tranche B Lenders on such Business Day. Each Tranche B Swing Line Borrowing shall be in an amount of €5,000,000 or an integral multiple of €1,000,000 in excess thereof and shall consist of Eurocurrency Rate Advances made on the same day by the Tranche B Swing Line Banks ratably according to their respective Tranche B Swing Line Commitments. Within the limits of the Tranche B Swing Line Subfacility and within the limits referred to in clause (B) above, the Borrowers may borrow under this Section 2.01(b)(ii), prepay pursuant to Section 2.10 and reborrow under this Section 2.01(b)(ii).
