Common use of Working Capital Facility Loans Clause in Contracts

Working Capital Facility Loans. (a) Subject to the terms and conditions hereof, each Dollar Working Capital Facility Lender severally shall make revolving credit loans under the Dollar Working Capital Facility Commitments (the “Dollar Working Capital Facility Loans”) to the Borrowers in an amount requested by the applicable Borrower from time to time during the Dollar Working Capital Facility Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Dollar Working Capital Facility Lender’s then outstanding Dollar Working Capital Facility Extensions of Credit (after giving effect to any application of proceeds of such Dollar Working Capital Facility Loans pursuant to Section 2.6), does not exceed such Lender’s Dollar Working Capital Facility Commitment at such time; provided that, after giving effect to any Dollar Working Capital Facility Loan requested by any Borrower, each of the conditions set forth in Section 6.2 shall be satisfied or waived. Dollar Working Capital Facility Loans may be denominated only in United States Dollars and may from time to time be (i) Eurocurrency Loans, (ii) Base Rate Loans or (iii) a combination thereof, in each case, as the applicable Borrower shall notify the Administrative Agent in accordance with Sections 2.5 and 4.3. No Dollar Working Capital Facility Loan shall be made as a Eurocurrency Loan after the day that is one (1) month prior to the Termination Date. (b) Subject to the terms and conditions hereof, each Multicurrency Working Capital Facility Lender severally shall make revolving credit loans under the Multicurrency Working Capital Facility Commitments (the “Multicurrency Working Capital Facility Loans”) to the Borrowers in an amount requested by the applicable Borrower from time to time during the Multicurrency Working Capital Facility Commitment Period in an aggregate principal amount at any one time outstanding such that the Dollar Equivalent of such Multicurrency Working Capital Facility Loan, when added to the Dollar Equivalent of such Multicurrency Working Capital Facility Lender’s then outstanding Multicurrency Working Capital Facility Extensions of Credit (after giving effect to any application of proceeds of such Multicurrency Working Capital Facility Loans pursuant to Section 2.6), does not exceed such Lender’s Multicurrency Working Capital Facility Commitment at such time; provided that, after giving effect to any Multicurrency Working Capital Facility Loan requested by any Borrower, each of the conditions set forth in Section 6.2 shall be satisfied or waived. Multicurrency Working Capital Facility Loans may be denominated in United States Dollars or Canadian Dollars (as the applicable Borrower shall notify the Administrative Agent or the Canadian Agent, as applicable in accordance with Section 2.5) and may from time to time be (x) with respect to Multicurrency Working Capital Facility Loans denominated in United States Dollars, (i) Eurocurrency Loans, (ii) Base Rate Loans or (iii) a combination thereof and (y) with respect to Multicurrency Working Capital Facility Loans denominated in Canadian Dollars, (i) Eurocurrency Loans, (ii) Prime Rate Loans or (iii) a combination thereof, in each case, as the applicable Borrower shall notify the Administrative Agent or Canadian Agent, as applicable, in accordance with Sections 2.5 and 4.3. No Multicurrency Working Capital Facility Loan shall be made as a Eurocurrency Loan after the day that is one (1) month prior to the Termination Date. (c) During the Working Capital Facility Commitment Period, the Borrowers may borrow, prepay the Working Capital Facility Loans in whole or in part, and reborrow Working Capital Facility Loans, all in accordance with the terms and conditions hereof.

Appears in 2 contracts

Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP)

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Working Capital Facility Loans. (a) Subject to the terms and conditions specified in Section 6.1, on the Closing Date, (i) each Working Capital Facility Lender which was an Existing Working Capital Facility Lender holding “Working Capital Facility Loans” (as defined in the Existing Credit Agreement) (such loans, collectively, the “Existing Working Capital Facility Loans”) immediately prior to the Closing Date severally agrees to continue such Existing Working Capital Facility Loans and/or sell all or a portion of its Existing Working Capital Facility Loans to other Working Capital Facility Lenders hereunder and/or purchase from other Existing Working Capital Facility Lenders all or a portion of such other Existing Working Capital Facility Lenders’ Existing Working Capital Facility Loans, and (ii) each Working Capital Facility Lender which was not an Existing Working Capital Facility Lender severally agrees to purchase from the Existing Working Capital Facility Lenders all or a portion of such Existing Working Capital Facility Lenders’ Existing Working Capital Facility Loans, in each case such that, after giving effect to all such sales and purchases, the Existing Working Capital Facility Loans held by each Working Capital Facility Lender shall be in an amount equal to such Working Capital Facility Lender’s Working Capital Facility Commitment Percentage of all such Existing Working Capital Facility Loans, and such Existing Working Capital Facility Loans so continued and purchased by the Lenders hereunder shall automatically be deemed to constitute Working Capital Facility Loans outstanding under this Agreement for all purposes. Subject to the terms and conditions hereof, each Dollar Working Capital Facility Lender severally shall make revolving credit loans under the Dollar Working Capital Facility Commitments (the “Dollar Working Capital Facility Loans”) to the Borrowers any Borrower in an amount requested by the applicable Borrowers’ Agent on behalf of such Borrower from time to time during the Dollar Working Capital Facility Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Dollar Working Capital Facility Lender’s then outstanding Dollar Working Capital Facility Extensions of Credit (after giving effect to any application of proceeds of such Dollar Working Capital Facility Loans pursuant to Section 2.6)Credit, does not exceed such Lender’s Dollar Working Capital Facility Commitment at such time; provided that, after giving effect to any Dollar Working Capital Facility Loan requested by any Borrowerthe Borrowers’ Agent on behalf of Borrowers, each of the conditions set forth in Section 6.2 shall be satisfied or waived. Dollar Working Capital Facility Loans may be denominated only in United States Dollars and may from time to time be (i) Eurocurrency Loans, (ii) Base Rate Loans or (iii) a combination thereof, in each case, as the applicable Borrower shall notify the Administrative Agent in accordance with Sections 2.5 and 4.3. No Dollar Working Capital Facility Loan shall be made as a Eurocurrency Loan after the day that is one (1) month prior to the Termination Date. (b) Subject to the terms and conditions hereof, each Multicurrency Working Capital Facility Lender severally shall make revolving credit loans under the Multicurrency Working Capital Facility Commitments (the “Multicurrency Working Capital Facility Loans”) to the Borrowers in an amount requested by the applicable Borrower from time to time during the Multicurrency Working Capital Facility Commitment Period in an aggregate principal amount at any one time outstanding such that the Dollar Equivalent of such Multicurrency Working Capital Facility Loan, when added to the Dollar Equivalent of such Multicurrency Working Capital Facility Lender’s then outstanding Multicurrency Working Capital Facility Extensions of Credit (after giving effect to any application of proceeds of such Multicurrency Working Capital Facility Loans pursuant to Section 2.6), does not exceed such Lender’s Multicurrency Working Capital Facility Commitment at such time; provided that, after giving effect to any Multicurrency Working Capital Facility Loan requested by any Borrower, each of the conditions set forth in Section 6.2 shall be satisfied or waived. Multicurrency Working Capital Facility Loans may be denominated in United States Dollars or Canadian Dollars (as the applicable Borrower shall notify the Administrative Agent or the Canadian Agent, as applicable in accordance with Section 2.5) and may from time to time be (x) with respect to Multicurrency Working Capital Facility Loans denominated in United States Dollars, (i) Eurocurrency Loans, (ii) Base Rate Loans or (iii) a combination thereof and (y) with respect to Multicurrency Working Capital Facility Loans denominated in Canadian Dollars, (i) Eurocurrency Loans, (ii) Prime Rate Loans or (iii) a combination thereof, in each case, as the applicable Borrower shall notify the Administrative Agent or Canadian Agent, as applicable, in accordance with Sections 2.5 and 4.3. No Multicurrency Working Capital Facility Loan shall be made as a Eurocurrency Loan after the day that is one (1) month prior to the Termination Date. (c) During the Working Capital Facility Commitment Period, the Borrowers each Borrower may borrow, prepay the Working Capital Facility Loans in whole or in part, and reborrow Working Capital Facility Loans, all in accordance with the terms and conditions hereof. (b) Working Capital Facility Loans may be denominated only in United States Dollars and may from time to time be (i) Eurodollar Loans, (ii) Base Rate Loans or (iii) a combination thereof, in each case, as the Borrowers’ Agent shall notify the Administrative Agent in accordance with Sections 2.5 and 4.

Appears in 1 contract

Samples: Credit Agreement (Sprague Resources LP)

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Working Capital Facility Loans. (a) Subject to the terms and conditions hereof, each Dollar Working Capital Facility Committed Tranche Lender severally shall make revolving credit loans under the Dollar Working Capital Facility Commitments (the “Dollar Working Capital Facility Committed Tranche Loans”) to the Borrowers in an amount requested by the applicable Borrower from time to time during the Dollar Working Capital Facility Commitment Period in an aggregate principal amount at any one time outstanding which, when added to such Dollar Working Capital Facility Committed Tranche Lender’s then outstanding Dollar Working Capital Facility Committed Tranche Extensions of Credit (after giving effect to any application of proceeds of such Dollar Working Capital Facility Committed Tranche Loans pursuant to Section 2.6), does not exceed such Lender’s Dollar Working Capital Facility Commitment at such time; provided that, after giving effect to any Dollar Working Capital Facility Committed Tranche Loan requested by any Borrower, each of the conditions set forth in Section 6.2 shall be satisfied or waived. Dollar Working Capital Facility Committed Tranche Loans may be denominated only in United States Dollars and may from time to time be (i) Eurocurrency Loans, (ii) Base Rate Loans or (iii) a combination thereof, in each case, as the applicable Borrower shall notify the Administrative Agent in accordance with Sections 2.5 and 4.3. No Dollar Working Capital Facility Committed Tranche Loan shall be made as a Eurocurrency Loan after the day that is one (1) month prior to the Termination Date. (b) Subject to the terms and conditions hereof, each Multicurrency Working Capital Facility Lender severally shall make revolving credit loans under the Multicurrency Working Capital Facility Commitments (the “Multicurrency Working Capital Facility Loans”) to the Borrowers in an amount requested by the applicable Borrower from time to time during the Multicurrency Dollar Working Capital Facility Commitment Period in an aggregate principal amount at any one time outstanding such that the Dollar Equivalent of such Multicurrency Working Capital Facility Loan, when added to the Dollar Equivalent of such Multicurrency Working Capital Facility Lender’s then outstanding Multicurrency Working Capital Facility Extensions of Credit (after giving effect to any application of proceeds of such Multicurrency Working Capital Facility Loans pursuant to Section 2.6), does not exceed such Lender’s Multicurrency Working Capital Facility Commitment at such time; provided that, after giving effect to any Multicurrency Working Capital Facility Loan requested by any Borrower, each of the conditions set forth in Section 6.2 shall be satisfied or waived. Multicurrency Working Capital Facility Loans may be denominated in United States Dollars or Canadian Dollars (as the applicable Borrower shall notify the Administrative Agent or the Canadian Agent, as applicable in accordance with Section 2.5) and may from time to time be (x) with respect to Multicurrency Working Capital Facility Loans denominated in United States Dollars, (i) Eurocurrency Loans, (ii) Base Rate Loans or (iii) a combination thereof and (y) with respect to Multicurrency Working Capital Facility Loans denominated in Canadian Dollars, (i) Eurocurrency Loans, (ii) Prime Rate Loans or (iii) a combination thereof, in each case, as the applicable Borrower shall notify the Administrative Agent or Canadian Agent, as applicable, in accordance with Sections 2.5 and 4.3. No Multicurrency Working Capital Facility Loan shall be made as a Eurocurrency Loan after the day that is one (1) month prior to the Termination Date. (c) During the Working Capital Facility Commitment Period, the Borrowers may borrow, prepay the Working Capital Facility Loans in whole or in part, and reborrow Working Capital Facility Loans, all in accordance with the terms and conditions hereof.

Appears in 1 contract

Samples: Credit Agreement (Sprague Resources LP)

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