Common use of Borrowings; Several Obligations Clause in Contracts

Borrowings; Several Obligations. Each Loan shall be made as part of a Borrowing consisting of Loans made or deemed made by the Lenders ratably in accordance with their respective Applicable Revolving Credit Percentages and Applicable Term Loan Percentages, as applicable. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Revolving Credit Commitments are several and no Revolving Credit Lender shall be responsible for any other Revolving Credit Lender’s failure to make Revolving Loans pursuant to such Revolving Credit Lender’s Revolving Credit Commitment.

Appears in 2 contracts

Samples: Credit Agreement (Grizzly Energy, LLC), Credit Agreement (Vanguard Natural Resources, Inc.)

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Borrowings; Several Obligations. Each Revolving Credit Loan shall be made as part of a Borrowing consisting of Revolving Credit Loans made or deemed made by the Revolving Credit Lenders ratably in accordance with their respective Applicable Revolving Credit Percentages and Applicable Term Loan Percentages, as applicableCommitments. The failure of any Revolving Credit Lender to make any Revolving Credit Loan required to be made by it shall not relieve any other Revolving Credit Lender of its obligations hereunder; provided that the Revolving Credit Commitments are several and no Revolving Credit Lender shall be responsible for any other Revolving Credit Lender’s failure to make Revolving Credit Loans pursuant to such Revolving Credit Lender’s Revolving Credit Commitmentas required.

Appears in 1 contract

Samples: Credit Agreement (SRC Energy Inc.)

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Borrowings; Several Obligations. Each Loan shall be made as part of a Borrowing consisting of Loans made or deemed made by the Lenders ratably in accordance with their respective Applicable Revolving Credit Percentages and Applicable Term Loan Percentages, as applicable. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Revolving Credit Commitments are several and no Revolving Credit Lender shall be responsible for any other Revolving Credit Lender’s failure to make Revolving Loans pursuant to such Revolving Credit Lender’s Revolving Credit Commitmentas required.

Appears in 1 contract

Samples: Credit Agreement (Chaparral Energy, Inc.)

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