Common use of Tranche B Clause in Contracts

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.

Appears in 2 contracts

Samples: Credit Agreement (Devon Energy Corp), Credit Agreement (Devon Energy Corp /Ok/)

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Tranche B. Subject to the terms and conditions hereof, each Tranche B Lender severally agrees to make loans to US Borrower (herein called such Tranche B 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 Tranche B 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) the US Facility Usage shall never exceed the US Maximum Credit Amount , (iii) such Tranche B Lender's Percentage Share of the US Facility Usage shall never exceed such Tranche B Lender's Percentage Share of the US Maximum Credit AmountAmount (calculated excluding Competitive Bid Loans), and (iiiiv) such Tranche B Lender's Percentage Share of the Tranche B Facility Usage shall never exceed such Tranche B 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 or, if less, must equal the unadvanced portion of the US Maximum Credit Amount. The obligation of US Borrower to repay to each Tranche B Lender the aggregate amount of all Tranche B Loans made by such Tranche B Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Tranche B Lender's "Tranche B Note") made by US Borrower payable to the order of such Tranche B Lender in the form of Exhibit A-2 with appropriate insertions. The amount of principal owing on any Tranche B Lender's Tranche B Note at any given time shall be the aggregate amount of all Tranche B Loans theretofore made by such Tranche B Lender minus all payments of principal theretofore received by such Tranche B 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.

Appears in 1 contract

Samples: Us Credit Agreement (Questar Market Resources Inc)

Tranche B. (A) Subject to the terms and conditions hereof, each Revolving Lender agrees to make loans available to US Borrower (herein called such Lender's "Tranche B Loans") upon US Borrower's request Borrowers from time to time during until the Commitment Termination Date its Pro Rata Share of advances for general corporate purposes (each, a "Tranche B Advance"). The Pro Rata Share of the Revolving Loan of any Revolving Lender shall not at any time exceed its separate Revolving Loan Commitment. The obligations of each Revolving Lender hereunder shall be several and not joint. Until the Commitment Termination Date, Borrowers may borrow, repay and reborrow under this Section 1.1(a); provided that the amount of any Tranche B Advance to be made at any time shall not exceed Tranche B Borrowing Availability at such time. Each Tranche B Advance shall be made on notice by Borrower Representative on behalf of the applicable Borrower to one of the representatives of Agent identified in Schedule 1.1 at the address specified therein. Any such notice must be given no later than (1) 1:00 p.m. (New York time) on the Business Day of the proposed Tranche B Advance, in the case of an Base Rate Loan, or (2) 1:00 p.m. (New York time) on the date which is 3 Business Days prior to the proposed Tranche B Advance, in the case of a LIBOR Loan. Each such notice (a "Notice of Tranche B Advance") must be given in writing (by telecopy or overnight courier) substantially in the form of Exhibit 1.1 (a) (i) attached to the Disclosure Document, and shall include the information required in such Exhibit and such other information as may be required by Agent. If any Borrower desires to have the Tranche B Advances bear interest by reference to a LIBOR Rate, Borrower Representative must comply with Section 1.5(e). (B) Anything in this Agreement to the contrary notwithstanding, at the request of Borrower Representative, in its discretion Agent may (but shall have absolutely no obligation to), make an Overadvance with respect to Tranche B Advances to Borrowers on behalf of Revolving PeriodLenders in amounts that cause the outstanding balance of the aggregate Revolving Loan to exceed the Borrowing Base, provided that (i) subject the amount of any or all Overadvances shall not exceed an amount equal to Sections 3.3, 3.4 and 3.5, all Lenders are requested to make Tranche B Loans the lesser of (A) Three Million Dollars ($3,000,000) or five percent (5%) of the same Type in accordance with their respective Percentage Shares and as part of the same BorrowingMaximum Amount, (ii) such Lender's Percentage Share the outstanding balance of the US Facility Usage aggregate Revolving Loan (after taking into consideration such Overadvance) shall never not exceed such Lender's Percentage Share an amount equal to one hundred five percent (105%) of the US Maximum Credit AmountBorrowing Base, and (iii) such Lender's Percentage Share the outstanding balance of the Tranche B Facility Usage aggregate Revolving Loan shall never not exceed such Lender's Percentage Share of the Tranche B Maximum Credit Amount. The aggregate amount of all Tranche B Loans in Amount at any Borrowing time, (iv) any Overadvance 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 Lenderrepaid, together with applicable interest accruing thereon, in connection therewithfull to Agent, on behalf of Lenders, within 7 calendar days of such Overadvance; and (v) not more than three (3) Overadvances 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 timecalendar year.

Appears in 1 contract

Samples: Loan and Security Agreement (Asta Funding Inc)

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Tranche B. Subject to the terms and conditions hereof, each Tranche B Lender agrees to make loans to US Borrower (herein called such Tranche B 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 Tranche B Lenders are requested to make Tranche B Loans of the same Type in accordance with their respective Tranche B Percentage Shares and as part of the same Borrowing, (ii) such Tranche B Lender's Tranche B Percentage Share of the Tranche B Facility Usage shall never exceed such Tranche B Lender's Tranche B Percentage Share of the Tranche B Maximum Credit Amount, and (iii) such Tranche B Lender's Percentage Share of the US Facility Usage shall never exceed such Tranche B 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 Tranche B Lender the aggregate amount of all Tranche B Loans made by such Tranche B Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Tranche B Lender's "Tranche B Note") made by US Borrower payable to the order of such Tranche B Lender in the form of Exhibit A-2 with appropriate insertions. The amount of principal owing on any Tranche B Lender's Tranche B Note at any given time shall be the aggregate amount of all Tranche B Loans theretofore made by such Tranche B Lender minus all payments of principal theretofore received by such Tranche B 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.

Appears in 1 contract

Samples: Us Credit Agreement (Devon Energy Corp/De)

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