Common use of US Loans to US Borrower Clause in Contracts

US Loans to US Borrower. Subject to the terms and conditions hereof, each US Lender agrees to make US Loans to US Borrower upon US Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all US Lenders are requested to make US Loans of the same Type in accordance with their respective US Percentage Shares and as part of the same Borrowing, (b) after giving effect to such US Loans, the US Total Outstanding Amount does not exceed the US Total Committed Amount determined as of the date on which the requested US Loans are to be made, and (c) after giving effect to such US Loans, the Outstanding Amount of US Loans by each US Lender plus such US Lender’s US Percentage Share of the Outstanding Amount of US LC Obligations does not exceed such US Lender’s US Commitment. The aggregate amount of all US Loans in any Borrowing must be equal to $1,000,000 or any higher integral multiple of $100,000. The obligation of US Borrower to repay to each US Lender the aggregate amount of all US Loans made by such US Lender to US Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such US Lender’s “US Note”) made by US Borrower payable to the order of such US Lender in the form of Exhibit A-1 with appropriate insertions. The amount of principal owing on any US Lender’s US Note at any given time shall be the aggregate amount of all US Loans theretofore made by such US Lender to US Borrower minus all payments of principal theretofore received by such US Lender on such US Note. Interest on each US Note shall accrue and be due and payable as provided herein and therein. Each US Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions of this Agreement, US Borrower may borrow, repay, and reborrow under this Section 2.1(a). US Borrower may have no more than seven Borrowings of Eurodollar Loans outstanding at any time. All payments of principal and interest on the US Loans made pursuant to this Section 2.1(a) shall be made in Dollars.

Appears in 2 contracts

Samples: Credit Agreement (Plains All American Pipeline Lp), Credit Agreement (Plains All American Pipeline Lp)

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US Loans to US Borrower. Subject to the terms and conditions hereof, each US Lender agrees to make US Loans to US Borrower upon US Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all US Lenders are requested to make US Loans of the same Type in accordance with their respective US Percentage Shares and as part of the same Borrowing, (b) after giving effect to such US Loans, the US Total Outstanding Amount does not exceed the US Total Committed Amount determined as of the date on which the requested US Loans are to be made, and (c) after giving effect to such US Loans, the Outstanding Amount of US Loans by each US Lender plus such US Lender’s 's US Percentage Share of the Outstanding Amount of US LC Obligations does not exceed such US Lender’s 's US Commitment. The aggregate amount of all US Loans in any Borrowing must be equal to $1,000,000 or any higher integral multiple of $100,000. The obligation of US Borrower to repay to each US Lender the aggregate amount of all US Loans made by such US Lender to US Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such US Lender’s “'s "US Note") made by US Borrower payable to the order of such US Lender in the form of Exhibit A-1 with appropriate insertions. The amount of principal owing on any US Lender’s 's US Note at any given time shall be the aggregate amount of all US Loans theretofore made by such US Lender to US Borrower minus all payments of principal theretofore received by such US Lender on such US Note. Interest on each US Note shall accrue and be due and payable as provided herein and therein. Each US Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions of this Agreement, US Borrower may borrow, repay, and reborrow under this Section 2.1(a). US Borrower may have no more than seven Borrowings of Eurodollar Loans outstanding at any time. All payments of principal and interest on the US Loans made pursuant to this Section 2.1(a) shall be made in Dollars.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

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US Loans to US Borrower. Subject to the terms and conditions hereof, each US Lender agrees to make US Loans to US Borrower upon US Borrower’s request from time to time during the US Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all US Lenders are requested to make US Loans of the same Type in accordance with their respective US Percentage Shares and as part of the same Borrowing, (b) after giving effect to such US Loans, the US Total Outstanding Amount Facility Usage does not exceed the US Total Committed Amount Commitment determined as of the date on which the requested US Loans are to be made, and (c) after giving effect to such US Loans, Loans the Outstanding Amount of US Loans by each US Lender to US Borrower plus such US Lender’s US Percentage Share of the Outstanding Amount of existing US LC Obligations of such US Lender with respect to US Letters of Credit issued at the request of US Borrower pursuant to Section 2.11 does not exceed such US Lender’s US Commitment. The aggregate amount of all US Loans in any Borrowing must be equal to $1,000,000 2,000,000 or any higher integral multiple of $100,000250,000. The obligation of US Borrower to repay to each US Lender the aggregate amount of all US Loans made by such US Lender to US Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such US Lender’s “US Note”) made by US Borrower payable to the order of such US Lender in the form of Exhibit A-1 with appropriate insertions. The amount of principal owing on any US Lender’s US Note at any given time shall be the aggregate amount of all US Loans theretofore made by such US Lender to US Borrower minus all payments of principal theretofore received by such US Lender on such US Note. Interest on each US Note shall accrue and be due and payable as provided herein and therein. Each US Note shall be due and payable as provided herein and therein, and shall be due and payable in full on the US Maturity Date. Subject to the terms and conditions of this Agreement, US Borrower may borrow, repay, and reborrow under this Section 2.1(a). US Borrower may have no more than seven Borrowings of Eurodollar LIBOR Loans outstanding at any time. All payments of principal and interest on the US Loans made pursuant to this Section 2.1(a) shall be made in Dollars.

Appears in 1 contract

Samples: Credit Agreement (Plains All American Pipeline Lp)

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