Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 4 contracts
Sources: Loan Agreement (Royal Gold Inc), Loan Agreement (Silver Wheaton Corp.), Bridge Loan Agreement (Silver Wheaton Corp.)
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit FacilityFacility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each creditcredit in accordance with the terms hereof, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facilitythereunder. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facilitythereunder.
Appears in 4 contracts
Sources: Second Amending Agreement (Fortis Inc.), Credit Agreement (Fortis Inc.), Credit Agreement (Fortis Inc.)
Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower under the Credit Facility hereunder from time to time provided that the aggregate amount of credit extended by each relevant Lender under the Credit Facility hereunder shall not at any time exceed the Individual individual Commitment of such Lender Lender. Nothing contained herein or in the other Financing Agreements shall constitute the Lenders as a partnership, and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facilityindication thereof is hereby expressly denied. All credit requested hereunder other than under the Credit Facility Swingline Facility, shall be made available to the Borrower contemporaneously by all of the relevant Lenders. Each Lender shall provide to the Administrative Agent for the Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility any Loan nor shall the Individual individual Commitment of any Lender with respect to a particular Loan be increased as a result of any such default of another Lender in extending credit under the Credit Facilitysuch Loan. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility any Loan shall not relieve any other relevant Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facilitysuch Loan.
Appears in 4 contracts
Sources: Second Amended and Restated Loan Agreement (Andersons, Inc.), Loan Agreement (Andersons, Inc.), Loan Agreement (Andersons, Inc.)
Lenders’ Commitments. (a) Subject to the terms and conditions hereofof this Agreement, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate principal amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate principal amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. Limit.
(b) All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. .
(c) No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder under this Agreement to make available to the Borrower its Pro Rata Share of such credit under the Credit Facilitycredit.
Appears in 4 contracts
Sources: Revolving Credit Facility (Gatos Silver, Inc.), Revolving Credit Facility (Gatos Silver, Inc.), Revolving Credit Facility (Gatos Silver, Inc.)
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the relevant Credit Facility from time to time provided that the aggregate principal amount of credit extended by each Lender under the such Credit Facility shall not at any time exceed the Individual Commitment of such Lender with respect thereto and further provided that the aggregate principal amount of credit outstanding under the such Credit Facility shall not at any time exceed the amount of the relevant Credit FacilityLimit. All credit requested under the a Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit FacilityFacilities. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the a Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facilitycredit.
Appears in 3 contracts
Sources: Credit Agreement (Orla Mining Ltd.), Credit Agreement (SilverCrest Metals Inc.), Credit Agreement (Orla Mining Ltd.)
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All Subject to the terms and conditions hereof, all credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each relevant credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the a Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 3 contracts
Sources: Loan Agreement (New Gold Inc. /FI), Credit Agreement (New Gold Inc. /FI), Credit Agreement (New Gold Inc. /FI)
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower Borrowers under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All credit requested under the Credit Facility shall be made available to the Borrower Borrowers contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower Borrowers its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the Borrower Borrowers its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower Borrowers its Pro Rata Share of such credit under the Credit Facility.
Appears in 3 contracts
Sources: Credit Agreement (Royal Gold Inc), Loan Agreement (Royal Gold Inc), Revolving Facility Credit Agreement (Royal Gold Inc)
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender under the Credit Facility and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit FacilityLimit. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 3 contracts
Sources: Credit Agreement (Silvercrest Mines Inc), Credit Agreement (Endeavour Silver Corp), Credit Agreement (Endeavour Silver Corp)
Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit FacilityLimit. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each creditcredit under the Credit Facility, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 2 contracts
Sources: First Amending Agreement (Triple Flag Precious Metals Corp.), Loan Agreement (Triple Flag Precious Metals Corp.)
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender with respect thereto and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each the credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any the credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any the credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 2 contracts
Sources: Credit Agreement (Sandstorm Gold LTD), Credit Agreement (Sandstorm Gold LTD)
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the relevant Borrower under the each Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the either Credit Facility shall not at any time exceed the Individual Commitment of such Lender under such Credit Facility and further provided that the aggregate amount of credit outstanding under the such Credit Facility shall not at any time exceed the amount of the such Credit Facility. All credit requested under the a particular Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the relevant Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the a particular Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the such Credit Facility. The failure of any Lender to make available to the relevant Borrower its Pro Rata Share of any credit under the a particular Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the such Borrower its Pro Rata Share of such credit under the such Credit Facility. For certainty, all obligations of each Lender hereunder are its several obligations.
Appears in 2 contracts
Sources: Loan Agreement (Lundin Mining CORP), Loan Agreement (4352351 Canada Inc.)
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender under the Credit Facility and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 2 contracts
Sources: Credit Agreement (Allied Nevada Gold Corp.), Credit Agreement (Allied Nevada Gold Corp.)
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All Subject to the terms and conditions hereof, all credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 2 contracts
Sources: Loan Agreement (Yamana Gold Inc), Loan Agreement (Yamana Gold Inc)
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower Borrowers under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All credit requested under the Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the relevant Lenders. Each Lender shall provide to the relevant Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the relevant Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the such Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 2 contracts
Sources: Credit Agreement (Kinross Gold Corp), Credit Agreement (Kinross Gold Corp)
Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower relevant Borrowers under the relevant Credit Facility from time to time provided that the aggregate principal amount of credit extended by each Lender under the such Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate principal amount of credit outstanding under the such Credit Facility shall not at any time exceed the amount of the relevant Credit FacilityLimit. All credit requested under the a Credit Facility shall be made available to the Borrower relevant Borrowers contemporaneously by all of the relevant Lenders. Each relevant Lender shall provide to the Borrower relevant Borrowers its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the a Credit Facility. The failure of any Lender to make available to the Borrower relevant Borrowers its Pro Rata Share of any credit under the a Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower relevant Borrowers its Pro Rata Share of such credit under the Credit Facilitycredit.
Appears in 1 contract
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit FacilityLimit at such time. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each creditcredit under the Credit Facility, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facilityhereunder. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facilitythereunder.
Appears in 1 contract
Sources: Credit Agreement (Ero Copper Corp.)
Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower Borrowers under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit FacilityLimit. All credit requested under the Credit Facility shall be made available to the Borrower Borrowers contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower Borrowers its Pro Rata Share of each creditcredit under the Credit Facility, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the Borrower Borrowers its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower Borrowers its Pro Rata Share of such credit under the Credit Facility.
Appears in 1 contract
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facility. For certainty, all obligations of each Lender hereunder are its several obligations.
Appears in 1 contract
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower Borrowers under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All credit requested under the Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the relevant Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the relevant Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the such Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 1 contract
Sources: Credit Agreement (Kinam Gold Inc)
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower Borrowers under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All Subject to the terms and conditions hereof, all credit requested under the Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the relevant Borrower its Pro Rata Share of each relevant credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the a Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the relevant Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 1 contract
Sources: Credit Agreement (New Gold Inc. /FI)
Lenders’ Commitments. Subject to the terms and conditions hereof, the relevant Lenders severally agree to extend credit to the Borrower Borrowers under the relevant Credit Facility from time to time provided that the aggregate amount of credit extended by each relevant Lender under the a particular Credit Facility shall not at any time exceed the Individual Commitment of such Lender with respect to such Credit Facility and further provided that the aggregate amount of credit outstanding under the a particular Credit Facility shall not at any time exceed the amount of the relevant Credit FacilityLimit. All credit requested under the a particular Credit Facility shall be made available to the applicable Borrower contemporaneously by all of the LendersLenders with an Individual Commitment with respect to such Credit Facility. Each relevant Lender shall provide to the Borrower Administrative Agent its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender with respect to a Credit Facility be increased as a result of any such default of another Lender in extending credit under the such Credit Facility. The failure of any Lender to make available to the a Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the applicable Borrower its Pro Rata Share of such credit under the Credit Facilitycredit.
Appears in 1 contract
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover drawdown or conversionrollover. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 1 contract
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the each Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the either Credit Facility shall not at any time exceed the Individual Commitment of such Lender with respect to such Credit Facility and further provided that the aggregate amount of credit outstanding under the either Credit Facility shall not at any time exceed the amount of the such Credit Facility. All credit requested under the either Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the either Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit under the either Credit Facility. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit under the either Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the such Credit Facility.
Appears in 1 contract
Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility shall not at any time exceed the Individual Commitment of such Lender and further provided that the aggregate amount of credit outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility. All Subject to the terms and conditions hereof, all credit requested under the Credit Facility shall be made available to the Borrower contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower its Pro Rata Share of each relevant credit, whether such credit is extended by way of drawdown, rollover or conversion. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Share of any credit under the Credit Facility nor shall the Individual Commitment of any Lender be increased as a result of any 286042.00038/115243826.6 such default of another Lender in extending credit under the Credit Facility. The failure of any Lender to make available to the a Borrower its Pro Rata Share of any credit under the Credit Facility shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit under the Credit Facility.
Appears in 1 contract
Sources: Credit Agreement (New Gold Inc. /FI)