Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effect. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 3 contracts
Sources: Credit Agreement (Vantage Energy Inc.), Credit Agreement (Vantage Energy Inc.), Credit Agreement (Vantage Energy Inc.)
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Revolving Lender agrees agrees, severally and not jointly, to make loans Revolving Loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s the request of Borrower from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Revolving Loans of the same Type made on the same day shall be made by Revolving Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, ; and (b) after giving effect to such Revolving Loans, the Revolving Facility Usage does not exceed the Borrowing Base Aggregate Commitment then in effect. The aggregate amount of all Base Rate Revolving Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 100,000, or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any timeAggregate Commitment. The obligation of Borrower to repay to each Revolving Lender the aggregate amount of all Revolving Loans made by such Revolving Lender, together with interest accruing in connection therewith, shall be evidenced by a single one or more promissory note (herein called such Lender’s “Note”) notes made by Borrower payable to the order of such Revolving Lender or its registered assigns in the principal amount of the Revolving Loan Commitment of the applicable Revolving Lender, substantially in the form of Exhibit A with appropriate insertions2.1 (each a “Revolving Note” and, collectively, the “Revolving Notes”). The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Revolving Loans theretofore made by such Revolving Lender minus all payments of principal theretofore received by such Revolving Lender on such Revolving Note. Interest on each Revolving Note shall accrue and be due and payable as provided herein. Each Revolving Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 3 contracts
Sources: Credit Agreement (Comfort Systems Usa Inc), Credit Agreement (Comfort Systems Usa Inc), Credit Agreement (Comfort Systems Usa Inc)
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares Applicable Percentages and as part of the same Borrowing, and (b) after giving effect to such Revolving Loans, the Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Base Rate Revolving Loans (other than Revolving Loans made pursuant to Section 2.12(b2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000 100,000, or (c) must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing BaseUnused Availability. Borrower may have no more than ten 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “Revolving Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Revolving Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 3 contracts
Sources: Credit Agreement (Sundance Energy Australia LTD), Credit Agreement (Sundance Energy Australia LTD), Credit Agreement (Sundance Energy Australia LTD)
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Revolving Lender agrees agrees, severally and not jointly, to make loans Revolving Loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s the request of Borrower from time to time during the Commitment Period, ; provided that (a) subject to Sections 3.3, 3.4 and 3.6, Revolving Loans of the same Type made on the same day shall be made by Revolving Lenders in accordance with their respective Revolving Percentage Shares and as part of the same Borrowing, ; and (b) after giving effect to such Revolving Loans, the Revolving Facility Usage does shall not exceed the Borrowing Base Aggregate Revolving Loan Commitment then in effect. The aggregate amount of all Base Rate Revolving Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 100,000, or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any timeAggregate Revolving Loan Commitment. The obligation of Borrower to repay to each Revolving Lender the aggregate amount of all Revolving Loans made by such Revolving Lender, together with interest accruing in connection therewith, shall may, at the request of such Revolving Lender, be evidenced by a single promissory note (herein called such Lender’s “Note”) made by Borrower payable to the order of such Revolving Lender or its registered assigns in the principal amount of the Revolving Loan Commitment of the applicable Revolving Lender, substantially in the form of Exhibit A with appropriate insertions2.1 (each a “Revolving Note” and, collectively, the “Revolving Notes”). The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Revolving Loans theretofore made by such Revolving Lender minus all payments of principal theretofore received by such Revolving Lender on such Revolving Note. Interest on each Note Revolving Loan shall accrue and be due and payable as provided herein. Each Note Revolving Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow Revolving Loans hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Comfort Systems Usa Inc), Credit Agreement (Comfort Systems Usa Inc)
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares Applicable Percentages and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effectAvailability at such time. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b2.10(b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000 100,000, or (c) must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing BaseUnused Availability. Borrower may have no more than ten four (4) Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall may, at the option and upon the request of a Lender, be evidenced by a single promissory note (herein called such Lender’s “Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Alta Mesa Resources, Inc. /DE), Credit Agreement (Silver Run Acquisition Corp II)
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, (b) after giving effect to such loans, the aggregate principal amount of outstanding Loans will not exceed $40,000,000, and (bc) after giving effect to such Loans, the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 2,000,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base250,000. Borrower may have no more than ten five Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Datelast day of the Commitment Period. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunder.
Appears in 2 contracts
Sources: Credit Agreement (Plains All American Pipeline Lp), Credit Agreement (Plains All American Pipeline Lp)
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effecteffect as of the date on which the requested Loans are to be made and (c) after giving effect to such Loans, the outstanding principal amount of each Lender's Loans, plus such Lender's Percentage Share of LC Obligations does not exceed such Lender's Percentage Share of the Borrowing Base in effect as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 2,500,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten five Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due herein and payable as provided hereintherein, with Eurodollar Loans bearing interest at the Eurodollar Rate plus the Eurodollar Margin and shall be due and payable in full on Base Rate Loans bearing interest at the Maturity Date. Subject Base Rate plus the Base Rate Margin (subject to the terms applicability of the Default Rate and conditions hereof, Borrower may borrow, repay, and reborrow hereunderlimited by the provisions of Section 10.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten eight (8) Borrowings of Eurodollar Fixed Rate Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. (a) Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolver Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Applicable Revolver Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, (i) the Facility Usage does Total Outstandings do not exceed the Borrowing Base and (ii) the Total Revolver Outstandings do not exceed the Aggregate Revolver Commitments then in effect. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b2.13(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Revolver Loans may be Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any timeLoans, as further provided herein. The obligation of Borrower to repay to each Lender the aggregate amount of all Revolver 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 “Revolver Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A A-1 with appropriate insertions.
(b) Subject to the terms and conditions hereof, on the Closing Date, each Lender agrees to make a loan to Borrower (herein called such Lender’s “Term Loans”) in an aggregate amount not to exceed such Lender’s Term Commitment. Amounts borrowed under this Section 2.1(b) and repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Eurodollar Loans, as further provided herein. The obligation of Borrower to repay to each Lender the aggregate amount of all Term 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 “Term Note”) made by Borrower payable to the order of such Lender in the form of Exhibit A-2 with appropriate insertions.
(c) The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Revolver Loans or Term Loans, as applicable, theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due and payable as provided herein, and shall be due and payable in full on the earlier to occur of (i) the termination of the Revolver Commitment or the acceleration of the Term Loans, as applicable, pursuant to Section 8.1 and (ii) (A) the Revolver Termination Date, in the case of Revolver Notes and (B) the Term Maturity Date. Subject to , in the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereundercase of Term Notes.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans Loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections Section 3.3, 3.4 Section 3.4, and Section 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, Loans the Facility Usage then outstanding does not exceed the Borrowing Base then in effectAggregate Commitment. The aggregate amount of all Loans in any Borrowing of Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any a higher integral multiple of $100,000 or must equal the remaining availability under Availability, and the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing of Eurodollar Loans must be greater than or equal to $1,000,000 3,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing BaseAvailability. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) subject to Sections Section 3.3, Section 3.4 and Section 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Aggregate Commitment or the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate amount of all Loans in any Borrowing of Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any a higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The , and the aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing of Eurodollar Loans must be greater than or equal to $1,000,000 3,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender severally agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon Borrower’s 's request from time to time during the Commitment Period, including, without limitation, Citibank LC Loans made pursuant to and subject to Section 2.7(B), provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, (b) after giving effect to such Loans, other than the Citibank LC Loan, the aggregate principal amount of outstanding Loans will not exceed the Maximum Loan Amount, and (bc) after giving effect to such Loans, the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base then determined as of the date on which the requested Loans are to be made, provided further that, at all times prior to the termination of the Salomon Facility and all Salomon Guaranty Exposure and the payment in effectfull of all Salomon Obligations, after giving effect to such Loans, the Facility Usage plus the Salomon Guaranty Exposure does not exceed the sum of (A) the Borrowing Base determined as of the date on which the requested Loans are to be made and (B) the Over-Advance Facility on such date. Notwithstanding anything to the contrary contained in this Section 2.1 or elsewhere in this Agreement, so long as no Default has occurred and is continuing, Borrower shall have the ability to request Loans (and each Lender hereby agrees to make such Loans in accordance with its Percentage Share and as part of the same Borrowing) in an amount such that, after giving effect to such Loans, the Facility Usage shall exceed the Borrowing Base (determined as of the date on which the requested Loans are to be made) by an aggregate principal amount of up to the Over-Advance Facility (such outstanding Loans in excess of the Borrowing Base, the "Over-Advance Loans"); provided that at no time shall the Facility Usage exceed the Maximum Facility Amount. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 100,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base100,000. Borrower may have no more than ten five Borrowings of Eurodollar LIBOR Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, other than the Citibank LC Loan, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Datelast day of the Commitment Period. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunder. The Citibank LC Loan shall bear interest at the Citibank LC Loan Rate and shall be immediately payable upon the making of any draft or demand for payment by the beneficiary of the Citibank Letter of Credit.
Appears in 1 contract
Sources: Credit Agreement (Genesis Energy Lp)
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares Applicable Percentages and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the least of (a) the Aggregate Maximum Credit Amount, (b) the Borrowing Base, and (c) the Aggregate Elected Commitment Amount, in each case, then in effect and the sum of the outstanding principal amount of such Lender’s Loans and its LC Obligations does not exceed the lesser of its Applicable Percentage of the Borrowing Base then in effectand its Elected Commitment. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b2.11(b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000 100,000, or (c) must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing BaseUnused Availability. Borrower may have no more than ten 5 Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall may, at the option and upon the request of a Lender, be evidenced by a single promissory note (herein called such Lender’s “Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and -------------------------- conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s 'Loans”') upon Borrower’s 's request from time to time during until the Commitment PeriodMaturity Date, provided that (a) subject to Sections 3.3, 3.4 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, (b) the sum of (i) the aggregate amount of such Lender's Loans outstanding at any time plus (ii) the Maximum Drawing Amount for which such Lender has purchased or is liable to purchase participations under Section 2.12, plus (iii) the Matured LC Obligations which have been funded by such Lender under such section, does not exceed such Lender's Percentage Share of the Borrowing Base determined as of the date on which the requested Loan is to be made, and (bc) after giving effect to such Loans, the Facility Usage aggregate amount of all Loans plus all LC Obligations does not exceed the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten six Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due herein and payable as provided hereintherein, with Eurodollar Loans bearing interest at the Adjusted Eurodollar Rate and shall be due and payable in full on Base Rate Loans bearing interest at the Maturity Date. Subject Adjusted Base Rate (subject to the terms applicability of the Default Rate and conditions hereof, Borrower may borrow, repay, and reborrow hereunderlimited by the provisions of Section 10.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such loans, the aggregate principal amount of outstanding Loans will not exceed $40,000,000, (c) after giving effect to such Loans, the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made and (d) such Loans can be incurred pursuant to the Permitted Debt Limit at the time the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 2,000,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base250,000. Borrower may have no more than ten five Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Datelast day of the Commitment Period. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and -------------------------- conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, (b) after giving effect to such loans, the aggregate principal amount of outstanding Loans will not exceed the Maximum Loan Amount, and (bc) after giving effect to such Loans, the Dollar Equivalent of the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 2,000,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base250,000. Borrower may have no more than ten five Borrowings of Eurodollar LIBOR Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Datelast day of the Commitment Period. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and -------------------------- conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, (b) after giving effect to such loans, the aggregate principal amount of outstanding Loans will not exceed the Maximum Loan Amount, and (bc) after giving effect to such Loans, the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 2,000,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base250,000. Borrower may have no more than ten five Borrowings of Eurodollar LIBOR Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Datelast day of the Commitment Period. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans Loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 3.4, 3.5 and 3.6, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage Total Outstanding Amount does not exceed the Borrowing Base then in effectTotal Committed Amount determined as of the date on which the requested Loans are to be made, and (c) after giving effect to such Loans, the Outstanding Amount of Loans by each Lender does not exceed such Lender’s Commitment. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time1,000,000. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such LenderLender to Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender to Borrower minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunderunder this Section 2.1. Borrower may have no more than seven Borrowings of Eurodollar Loans outstanding at any time. All payments of principal and interest on the Loans made pursuant to this Section 2.1 shall be made in Dollars.
Appears in 1 contract
Sources: 364 Day Credit Agreement (Plains All American Pipeline Lp)
Commitments to Lend; Notes. Subject to the terms and conditions hereofset forth herein, each Lender agrees to make loans to the Borrower (herein called such LenderL▇▇▇▇▇’s “Loans”) upon the Borrower’s request from time to time during the Commitment Period, ; provided that (a) subject to Sections 3.3, 3.4 Section 2.16 and 3.6Section 2.19, Loans of the same Type shall be made by the Lenders in accordance with their respective Percentage Pro Rata Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Base Rate of the Loans (other than Loans made pursuant to Section 2.12(b)2.12) in any Borrowing must be greater than or equal to $500,000 100,000.00 or any higher integral multiple of $100,000 100,000.00 or must equal the remaining availability under Unused Availability. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein and shall be due and payable in full on the Borrowing BaseMaturity Date. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant Subject to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under terms and conditions hereof, the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any timeborrow, repay, and reborrow hereunder. The obligation of the Borrower to repay to each Lender the aggregate amount of all of the Loans made by such Lender, together with interest accruing in connection therewith, shall shall, at the request of such Lender, be evidenced by a single promissory note (herein called such Lender’s “Note”) made by the Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all of the Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten five Borrowings of Eurodollar Loans outstanding at any timetime and the amount of each Eurodollar Loan must equal $100,000 or any higher integral multiple of $50,000. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due herein and payable as provided hereintherein, with Eurodollar Loans bearing interest at the Eurodollar Rate and shall be due and payable in full on Base Rate Loans bearing interest at the Maturity Date. Subject Base Rate (subject to the terms applicability of the Default Rate and conditions hereof, Borrower may borrow, repay, and reborrow hereunderlimited by the provisions of Section 10.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Revolving Lender agrees agrees, severally and not jointly, to make loans Revolving Loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s the request of Borrower from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Revolving Loans of the same Type made on the same day shall be made by Revolving Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and ; (b) after giving effect to such Revolving Loans, the Revolving Facility Usage does not exceed the Borrowing Base Aggregate Commitment then in effect. The ; and (c) after giving effect to such Revolving Loans, the aggregate amount of all Base Rate outstanding Revolving Loans (other than and outstanding Matured LC Obligations shall not exceed the Borrowing Base. The amount of all Revolving Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Revolving Lender the aggregate amount of all Revolving Loans made by such Revolving Lender, together with interest accruing in connection therewith, shall be evidenced by a single one or more promissory note (herein called such Lender’s “Note”) notes made by Borrower payable to the order of such Revolving Lender or its registered assigns in the principal amount of the Revolving Loan Commitment of the applicable Revolving Lender, substantially in the form of Exhibit A with appropriate insertions2.1(b) (each a “Revolving Note” and, collectively, the “Revolving Notes”). The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Revolving Loans theretofore made by such Revolving Lender minus all payments of principal theretofore received by such Revolving Lender on such Revolving Note. Interest on each Revolving Note shall accrue and be due and payable as provided herein. Each Revolving Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 5,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten six Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections Section 3.3, 3.4 Section 3.4, and Section 3.6, all Lenders are requested to make Revolving Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, Revolving Loans (i) the sum of the Facility Usage and the principal amount of SG Obligations then outstanding does not exceed (ii) the Borrowing Base then in effectdetermined as of the date on which the requested Revolving Loans are to be made. The aggregate amount of all Revolving Loans in any Borrowing of Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any a higher integral multiple of $100,000 or must equal the remaining availability under Availability, and the Borrowing Base. The aggregate amount of all Eurodollar Rate Revolving Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing of Eurodollar Loans must be greater than or equal to $1,000,000 3,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing BaseAvailability. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made or the Commitment. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing of ABR Loans must be greater than or equal to $500,000 or (any higher integral multiple of $100,000 100,000) or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing of Eurodollar Loans must be greater than or equal to $1,000,000 or 500,000 (any higher integral multiple of $1,000,000 100,000) or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten three Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due herein and payable as provided hereintherein, with Eurodollar Loans bearing interest at the Eurodollar Rate and shall be due and payable in full on ABR Loans bearing interest at the Maturity Date. Subject Alternate Base Rate (subject to the terms applicability of the Default Rate and conditions hereof, Borrower may borrow, repay, and reborrow hereunderlimited by the provisions of Section 10.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender Bank agrees to make loans to Borrower (herein called such Lender’s “Bank's 'Loans”') upon 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 Banks are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, (b) the sum of (i) the aggregate amount of such Bank's Loans outstanding at any time plus (ii) the Maximum Drawing Amount for which such Bank is liable to purchase participations under Section 9.5, plus (iii) the Matured LC Obligations which have been funded by such Bank under such section, does not exceed such Bank's Percentage Share of the Borrowing Base determined as of the date on which the requested Loan is to be made, and (bc) after giving effect to such Loans, the Facility Usage aggregate amount of all Loans plus all LC Obligations does not exceed the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten six Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender Bank the aggregate amount of all Loans made by such LenderBank, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Bank's "Note”") made by Borrower payable to the order of such Lender or its registered assigns Bank in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Bank's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender Bank minus all payments of principal theretofore received by such Lender Bank on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due herein and payable as provided hereintherein, with Eurodollar Loans bearing interest at the Eurodollar Rate and shall be due and payable in full on Base Rate Loans bearing interest at the Maturity Date. Subject Base Rate (subject to the terms applicability of the Late Payment Rate and conditions hereof, Borrower may borrow, repay, and reborrow hereunderlimited by the provisions of Section 9.
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Commitments to Lend; Notes. (a) Subject to the terms and conditions hereof, each Revolving Lender agrees agrees, severally and not jointly, to make loans Revolving Loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s the request of Borrower from time to time during the Commitment Period, ; provided that (a) subject to Sections 3.3, 3.4 and 3.6, Revolving Loans of the same Type made on the same day shall be made by Revolving Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, ; and (b) after giving effect to such Revolving Loans, the Revolving Facility Usage does shall not exceed the Borrowing Base Aggregate Revolving Loan Commitment then in effect. The aggregate amount of all Base Rate Revolving Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 100,000, or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any timeAggregate Revolving Loan Commitment. The obligation of Borrower to repay to each Revolving Lender the aggregate amount of all Revolving Loans made by such Revolving Lender, together with interest accruing in connection therewith, shall may, at the request of such Revolving Lender, be evidenced by a single promissory note (herein called such Lender’s “Note”) made by Borrower payable to the order of such Revolving Lender or its registered assigns in the principal amount of the Revolving Loan Commitment of the applicable Revolving Lender, substantially in the form of Exhibit A with appropriate insertions2.1(a) (each a “Revolving Note” and, collectively, the “Revolving Notes”). The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Revolving Loans theretofore made by such Revolving Lender minus all payments of principal theretofore received by such Revolving Lender on such Revolving Note. Interest on each Note Revolving Loan shall accrue and be due and payable as provided herein. Each Note Revolving Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow Revolving Loans hereunder.
(b) Subject to the terms and conditions hereof, each Term Lender agrees, severally and not jointly, to make a single Term Loan to Borrower on the Amendment No. 6 Effective Date in a principal amount equal to such Lender’s Term Loan Commitment. The obligation of Borrower to repay to each Term Lender the aggregate amount of the Term Loan made by such Term Lender, together with interest accruing in connection therewith, may, at the request of such Term Lender, be evidenced by a promissory note made by Borrower payable to the order of such Term Lender in the principal amount of the Term Loan Commitment of the applicable Term Lender, substantially in the form of Exhibit 2.1(b) (each a “Term Note” and, collectively, the “Term Notes”). The amount of principal owing on any Term Note at any given time shall be the amount of the Term Loan made by such Term Lender minus all payments of principal theretofore received by such Term Lender on such Term Note. Interest on each Term Loan shall accrue and be due and payable as provided herein. Each Term Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Amounts repaid or prepaid in respect of the Term Loans may not be reborrowed.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereofset forth herein, each Lender agrees to make loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s request from time to time during the Commitment Period, ; provided that (a) subject to Sections 3.3, 3.4 2.16 and 3.62.19, Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Pro Rata Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the lesser of the Borrowing Base or the Aggregate Commitment then in effect. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)2.12) in any Borrowing must be greater than or equal to $500,000 100,000 or any higher integral multiple of $100,000 or must equal the remaining availability under Unused Availability. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Borrowing BaseMaturity Date. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant Subject to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. terms and conditions hereof, Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any timeborrow, repay, and reborrow hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Sources: Credit Agreement
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effecteffect as of the date on which the requested Loans are to be made, (c) after giving effect to such Loans, the Facility Usage does not exceed the Senior Debt Limit in effect as of the date on which the requested Loans are to be made, and (d) after giving effect to such Loans, the outstanding principal amount of each Lender's Loans, plus such Lender's Percentage Share of LC Obligations does not exceed such Lender's Percentage Share of the Borrowing Base in effect as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 2,500,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten five Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. It is expressly understood that Lenders' commitment to make Loans is determined only by reference to the Borrowing Base from time to time in effect, and the aggregate face amount of the Notes and the amount specified in the Security Documents are specified at a greater amount only for the convenience of the parties to avoid the necessity of preparing and recording supplements to the Security Documents. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein, with Eurodollar Loans bearing interest at the Eurodollar Rate and Base Rate Loans bearing interest at the Base Rate (subject to the applicability of the Default Rate and limited by the provisions of Section 10.7). Each Note shall be due and payable On the last day of the Commitment Period, unless sooner paid as provided herein, and all Loans shall be due and payable paid in full on the Maturity Datefull. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and -------------------------- conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made, and (c) after giving effect to such Loans, the Loans by each Lender plus the existing LC Obligations of such Lender does not exceed such Lender's Commitment Amount. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten five Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender severally agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, (b) after giving effect to such Loans, the aggregate principal amount of outstanding Loans will not exceed the Maximum Loan Amount, and (bc) after giving effect to such Loans, the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base then determined as of the date on which the requested Loans are to be made, provided further that, at all times prior to the termination of the Salomon Facility and all Salomon Guaranty Exposure and the payment in effectfull of all Salomon Obligations, after giving effect to such Loans, the Facility Usage plus the Salomon Guaranty Exposure does not exceed the Borrowing Base determined as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 100,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base100,000. Borrower may have no more than ten five Borrowings of Eurodollar LIBOR Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Datelast day of the Commitment Period. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Sources: Credit Agreement (Genesis Energy Lp)
Commitments to Lend; Notes. Subject to the terms and -------------------------- conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effectCommitment determined as of the date on which the requested Loans are to be made and (c) after giving effect to such Loans the Loans by each Lender plus the existing LC Obligations of such Lender does not exceed such Lender's Commitment. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 2,000,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time250,000. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunderunder this Section 2.1. Borrower may have no more than seven Borrowings of LIBOR Loans outstanding at any time.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, (b) after giving effect to such loans, the aggregate principal amount of outstanding Loans will not exceed the Maximum Loan Amount, and (bc) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate principal amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) each Loan in any Borrowing must shall not be greater less than or equal to $500,000 or any higher 100,000 and shall be in integral multiple multiples of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base100,000. Borrower may have no more than ten five Borrowings of Eurodollar LIBOR Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Datelast day of the Commitment Period. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Sources: Credit Agreement (Genesis Energy Lp)
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans Loans to Borrower (herein called such Lender’s “Loans”) upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage aggregate outstanding principal amount of the Loans does not exceed the Borrowing Base then in effectCommitment determined as of the date on which the requested Loans are to be made, and (c) after giving effect to such Loans the Loans by each Lender does not exceed such Lender’s Commitment. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 2,000,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time250,000. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such LenderLender to Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender to Borrower minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunderunder this Section 2.1. Borrower may have no more than seven Borrowings of LIBOR Loans outstanding at any time. All payments of principal and interest on the Loans made pursuant to this Section 2.1 shall be made in Dollars.
Appears in 1 contract
Sources: 364 Day Credit Agreement (Plains All American Pipeline Lp)
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Revolving Lender agrees agrees, severally and not jointly, to make loans Revolving Loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s the request of Borrower from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Revolving Loans of the same Type made on the same day shall be made by Revolving Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, ; and (b) after giving effect to such Revolving Loans, the Revolving Facility Usage does not exceed the Borrowing Base Aggregate Commitment then in effect. The aggregate amount of all Base Rate Revolving Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 100,000, or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any timeAggregate Commitment. The obligation of Borrower to repay to each Revolving Lender the aggregate amount of all Revolving Loans made by such Revolving Lender, together with interest accruing in connection therewith, shall be evidenced by a single one or more promissory note (herein called such Lender’s “Note”) notes made by Borrower payable to the order of such Revolving Lender or its registered assigns in the principal amount of the Revolving Loan Commitment of the applicable Revolving Lender, substantially in the form of Exhibit A with appropriate insertions2.1 (each a “Revolving Note” and, collectively, the “Revolving Notes”). The amount of principal owing on any Lender’s Revolving Note at any given time shall be the aggregate amount of all Revolving Loans theretofore made by such Revolving Lender minus all payments of principal theretofore received by such Revolving Lender on such Revolving Note. Interest on each Revolving Note shall accrue and be due and payable as provided herein. Each Revolving Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow Revolving Loans hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans advances to Borrower (herein called such Lender’s “Loans”'s "LOANS") upon Borrower’s request from time to time during the Commitment Period, provided that Period so long as (a) subject to Sections 3.3, 3.4 and 3.6, Loans each Loan by such Lender does not exceed such Lender's Percentage Share of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part aggregate amount of the same BorrowingLoans then requested from all Lenders, and (b) after giving effect to the aggregate amount of such Loans, the Facility Usage Lender's Loans outstanding at any time does not exceed such Lender's Percentage Share of the Borrowing Base then in effectdetermined as of the date on which the requested Loan is to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) requested of all Lenders in any Borrowing Request for Loan must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount unadvanced portion of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten *[five] Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, Lender together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Note”'s "NOTE") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due herein and payable as provided hereintherein, with Eurodollar Loans bearing interest at the Eurodollar Rate and shall be due and payable in full on Base Rate Loans bearing interest at the Maturity DateBase Rate (subject to the applicability of the Late Payment Rate. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Sources: Credit Agreement (STB Systems Inc)
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon Borrower’s 's request from time to time during prior to the Commitment PeriodMaturity Date, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage aggregate outstanding amount of Loans does not exceed the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Dollar Equivalent of the Facility Usage does not exceed the lesser of (i) the Maximum Facility Amount and (ii) the Borrowing Base then in effectdetermined as of the date on which the requested Loans are to be made. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 2,000,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base250,000. Borrower may have no more than ten five Borrowings of Eurodollar LIBOR Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Datelast day of the Commitment Period. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender severally agrees to make a term loan or loans to Borrower (herein called such Lender’s each, a “Loan”, and together, the “Loans”) upon Borrower’s request from time on the Closing Date in an aggregate principal amount not to time during exceed the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effect. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any timeLender. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereofOnce repaid or prepaid, Borrower no Loan incurred hereunder may borrow, repay, and reborrow hereunderbe reborrowed.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections 3.3, 3.4 and 3.6, Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares Applicable Percentages and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base Aggregate Commitment then in effect. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b2.11(b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $500,000 or (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing BaseAggregate Commitment. Borrower may have no more than ten eight (8) Borrowings of Eurodollar Loans outstanding at any time. Interest on each Loan shall accrue and be due and payable as provided herein. Each Loan shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow Loans hereunder. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such Lender, together with interest accruing in connection therewith, shall may, at the option and upon the request of a Lender, be evidenced by a single promissory note (herein called such Lender’s “Note”) made by Borrower payable to such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due and payable as provided herein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “'s "Loans”") upon Borrower’s 's request from time to time during the Commitment Period, provided that (a) only one advance of new funds may be borrowed hereunder, and all Loans thereafter must be continuations or conversions of previous Loans, (b) the aggregate amount requested from all Lenders for such advance of new funds may not exceed the Maximum Loan Amount, and (c) subject to Sections 3.3, 3.4 and 3.6, all Lenders must be requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effect. The aggregate amount of all Base Rate Eurodollar Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal 3,000,000, and the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base1,000,000. Borrower may have no more than ten six Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made funds lent by such Lender under such Note minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided herein. Each Note shall be due herein and payable as provided hereintherein, with Eurodollar Loans bearing interest at the Eurodollar Rate and shall be due and payable in full on Base Rate Loans bearing interest at the Maturity Date. Subject Base Rate (subject to the terms applicability of the Default Rate and conditions hereof, Borrower limited by the provisions of Section 10.7). Funds borrowed and repaid hereunder may borrow, repay, and reborrow hereundernot be reborrowed.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans Loans to Borrower (herein called such Lender’s “Loans”) upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Facility Usage aggregate outstanding principal amount of the Loans does not exceed the Borrowing Base then in effectCommitment determined as of the date on which the requested Loans are to be made, and (c) after giving effect to such Loans, the Loans by each Lender does not exceed such Lender's Commitment. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 2,000,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time250,000. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such LenderLender to Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender to Borrower minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereofof this Agreement, Borrower may borrow, repay, and reborrow hereunderunder this Section 2.1. Borrower may have no more than seven Borrowings of LIBOR Loans outstanding at any time. All payments of principal and interest on the Loans shall be made in Dollars.
Appears in 1 contract
Sources: 364 Day Credit Agreement (Plains All American Pipeline Lp)
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans to Borrower (herein called such Lender’s “Revolving Loans”) upon Borrower’s request from time to time during the Commitment Period, provided that (a) subject to Sections Section 3.3, 3.4 Section 3.4, and Section 3.6, all Lenders are requested to make Revolving Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, Revolving Loans (i) the sum of the Facility Usage and the principal amount of SG Obligations then outstanding does not exceed (ii) the lesser of the Aggregate Commitments or the Borrowing Base then in effectdetermined as of the date on which the requested Revolving Loans are to be made. The aggregate amount of all Revolving Loans in any Borrowing of Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any a higher integral multiple of $100,000 or must equal the remaining availability under Availability, and the Borrowing Base. The aggregate amount of all Eurodollar Rate Revolving Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing of Eurodollar Loans must be greater than or equal to $1,000,000 3,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing BaseAvailability. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender severally agrees to make loans to Borrower on the date hereof (herein called such Lender’s “'s "Loans”") upon Borrower’s 's request from time to time during the Commitment Period, provided that (ai) subject to Sections 3.32.3, 3.4 2.4 and 3.62.5, all Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (bii) after giving effect to such Loans, the Facility Usage does not exceed the Borrowing Base then in effect. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to does not exceed $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time280,000,000. The obligation of Borrower to repay to each Lender the aggregate amount of all the 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all the Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunderLoans under this Agreement during the Commitment Period. Borrower may have no more than ten borrowings of Eurodollar Loans outstanding at any time.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender severally agrees to make loans Loans to Borrower (herein called such Lender’s “Loans”) upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, the Dollar Equivalent of the Facility Usage does not exceed the Borrowing Base then in effectFacility Amount determined as of the date on which the requested Loans are to be made, (c) after giving effect to such Loans, the Dollar Equivalent of such Lender's Loans and Percentage Share of any LC Obligations does not exceed such Lender's Commitment determined as of the date on which the requested Loans are to be made, and (d) the aggregate outstanding principal amount of Canadian Eurodollar Loans does not exceed Fifty Million Canadian Dollars (C$50,000,000). The aggregate amount of all Loans in any Borrowing consisting of Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Facility Amount and the aggregate amount of all Loans in any Borrowing Baseconsisting of Eurodollar Loans must be greater than or equal to $3,000,000. Borrower may have no more than ten seven (7) Borrowings of Eurodollar Loans outstanding at any time. The obligation of Borrower to repay to each Lender the aggregate amount of all 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 “'s "Note”") made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s 's Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable on each Interest Payment Date as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrow, repay, and reborrow hereunder. Borrower may, upon three (3) Business Days' prior written notice to Administrative Agent, irrevocably cancel all or any portion of the Unused Amount.
Appears in 1 contract
Commitments to Lend; Notes. Subject to the terms and conditions hereof, each Lender agrees to make loans a Loan on the Initial Funding Date to Borrower (herein called such Lender’s an “LoansInitial Loan”) ), and a single additional Loan on or after the Initial Funding Date (an “Additional Loan”), in each case upon 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 Lenders are requested to make Loans of the same Type shall be made by Lenders in accordance with their respective Percentage Shares and as part of the same Borrowing, and (b) after giving effect to such Loans, when made, do not exceed the Facility Usage Total Committed Amount determined as of the date on which the requested Loans are to be made, (c) each such Lender’s Loan, when made, does not exceed such Lender’s Commitment, and (d) the Borrowing Base then in effectaggregate amount of the Additional Loans shall not exceed $250,000,000. The aggregate amount of all Base Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $500,000 or any higher integral multiple of $100,000 or must equal the remaining availability under the Borrowing Base. The aggregate amount of all Eurodollar Rate Loans (other than Loans made pursuant to Section 2.12(b)) in any Borrowing must be greater than or equal to $1,000,000 or any higher integral multiple of $1,000,000 or must equal the remaining availability under the Borrowing Base. Borrower may have no more than ten Borrowings of Eurodollar Loans outstanding at any time1,000,000. The obligation of Borrower to repay to each Lender the aggregate amount of all Loans made by such LenderLender to Borrower, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender’s “Note”) made by Borrower payable to the order of such Lender or its registered assigns in the form of Exhibit A with appropriate insertions. The amount of principal owing on any Lender’s Note at any given time shall be the aggregate amount of all Loans theretofore made by such Lender to Borrower minus all payments of principal theretofore received by such Lender on such Note. Interest on each Note shall accrue and be due and payable as provided hereinherein and therein. Each Note shall be due and payable as provided hereinherein and therein, and shall be due and payable in full on the Maturity Date. Subject to the terms and conditions hereof, Borrower may borrownot reborrow, repayin whole or part, the repaid portion of any Loans made under this Section 2.1. Borrower may have no more than seven Borrowings of Eurodollar Loans outstanding at any time. All payments of principal and reborrow hereunderinterest on the Loans made pursuant to this Section 2.1 shall be made in Dollars.
Appears in 1 contract
Sources: 364 Day Credit Agreement (Plains All American Pipeline Lp)