Common use of Initial Borrowing Clause in Contracts

Initial Borrowing. The obligation of each Lender to advance the initial Loans hereunder, and of the Issuing Bank to issue the initial Letter of Credit hereunder, on or after the Initial Availability Date is subject to satisfaction of the following conditions precedent:

Appears in 2 contracts

Samples: Revolving Credit Agreement (Transocean Inc), 364 Day Credit Agreement (Transocean Sedco Forex Inc)

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Initial Borrowing. The obligation of each Lender to advance the initial Loans hereunder, of the Swingline Lender to advance the initial Swingline Loan and of the each Issuing Bank to issue the initial Letter of Credit hereunder, on or after the Initial Availability Date is subject to satisfaction of the following conditions precedent:

Appears in 2 contracts

Samples: Revolving Credit Agreement (Noble Corp), Revolving Credit Agreement (Globalsantafe Corp)

Initial Borrowing. The obligation of each Lender to advance ----------------- the initial Loans hereunder, and of the Issuing Bank to issue the initial Letter of Credit hereunder, on or after the Initial Availability Date is subject to satisfaction of the following conditions precedent:

Appears in 2 contracts

Samples: 364 Day Credit Agreement (Transocean Sedco Forex Inc), Credit Agreement (Transocean Sedco Forex Inc)

Initial Borrowing. The obligation of each Lender to advance ----------------- the initial Loans hereunder, and of the Issuing Bank to issue the initial Letter of Credit hereunder, hereunder on or after the Initial Availability Effective Date is subject to satisfaction of the following conditions precedent:

Appears in 1 contract

Samples: Credit Agreement (Transocean Sedco Forex Inc)

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Initial Borrowing. The obligation of each Lender to advance ------------------ the initial Loans hereunder, and of the Issuing Bank to issue the initial Letter of Credit hereunder, on or after the Initial Availability Date is subject to satisfaction of the following conditions precedent:

Appears in 1 contract

Samples: 364 Day Credit Agreement (Transocean Inc)

Initial Borrowing. The obligation of each Lender to ------------------ advance the initial Loans hereunder, and of the Issuing Bank to issue the initial Letter of Credit hereunder, on or after the Initial Availability Date is subject to satisfaction of the following conditions precedent:

Appears in 1 contract

Samples: Revolving Credit Agreement (Transocean Inc)

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