Common use of BHP Borrowings Clause in Contracts

BHP Borrowings. The Borrower agrees to reserve under the Commitments at all times an aggregate amount equal to $3,100,000 (the “BHP Reserve”) to be used by the Borrower to fund, directly or indirectly, any liquidity needs arising under or in connection with that certain Loan Agreement between the City of ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ County, Wyoming and BHP (fka Black Hills Corporation), dated June 1, 1994, as such Loan Agreement is amended, modified, supplemented or refinanced from time to time (the “BHP Liquidity Requirements”). The BHP Reserve shall be: (i) reduced for each Loan requested by the Borrower, the proceeds of which are used to fund, directly or indirectly, the BHP Liquidity Requirements, and (ii) increased, up to the limit of $3,100,000 at any time, for any such Loan that is repaid in accordance with the terms of this Agreement. Nothing in this paragraph shall restrict Borrower’s use of other Loans made under this Agreement in accordance with the terms and conditions of this Agreement. The Administrative Agent and the Banks shall have no responsibility for ensuring that the proceeds of Loans made under the BHP Reserve are used for the BHP Liquidity Requirements.