Common use of Lenders’ Commitments Clause in Contracts

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 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 credit 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 thereunder. 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 thereunder.

Appears in 4 contracts

Samples: Credit Agreement (Fortis Inc.), Credit Agreement (Fortis Inc.), Credit Agreement (Fortis Inc.)

AutoNDA by SimpleDocs

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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 4 contracts

Samples: Revolving Facility Credit Agreement (Royal Gold Inc), Credit Agreement (Silver Wheaton Corp.), Credit 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 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 3 contracts

Samples: 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 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 2 contracts

Samples: Credit Agreement (Kinross Gold Corp), Credit Agreement (Kinross 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 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 2 contracts

Samples: 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 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 2 contracts

Samples: 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 make Accommodation available to the Borrower under the Credit Facility from time to time provided that the aggregate amount of credit extended Accommodation to be made available 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 Accommodation outstanding under the Credit Facility shall not at any time exceed the amount of the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit Accommodation 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 Commitment Share of each credit in accordance with the terms hereofAccommodation, whether such credit Accommodation is extended made available or continued, as the case may be, by way of drawdown, rollover or conversion. The number of different types of Accommodations outstanding at any time shall not exceed ten and, for such purposes, LIBOR Loans having different Interest Periods shall constitute different types of Accommodations. No Lender shall be responsible for any default by any other Lender in its obligation to provide its Pro Rata Commitment Share of any credit under the Credit Facility Accommodation nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit thereunderLender. The failure of any Lender to make available to the Borrower its Pro Rata Commitment Share of any credit under the Credit Facility Accommodation shall not relieve any other Lender of its obligation hereunder to make available to the Borrower its Pro Rata Commitment Share of such credit thereunderAccommodation. Notwithstanding any other provision hereof, the Agent is authorized by the Borrower and the Lenders to allocate amongst the Lenders the LIBOR Loans to be advanced in such manner and amounts as the Agent may, in its sole and unfettered discretion acting reasonably, consider necessary, rounding up or down, so as to ensure that no Lender is required to advance a LIBOR Loan for a fraction of U.S. $100,000.

Appears in 2 contracts

Samples: Term Credit Agreement (Potash Corp of Saskatchewan Inc), Term Credit Agreement (Potash Corporation of Saskatchewan Inc)

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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunderunder such Credit Facility. For certainty, all obligations of each Lender hereunder are its several obligations.

Appears in 2 contracts

Samples: Credit Agreement (4352351 Canada Inc.), Credit Agreement (Lundin Mining 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 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 Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4indication 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 in accordance with the terms hereof, whether such credit is extended by way of drawdown, rollover or conversioncredit. 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 thereunderunder such 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 thereunderunder such Loan.

Appears in 2 contracts

Samples: Loan Agreement (Andersons, Inc.), Loan Agreement (Andersons, Inc.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit Accommodations to the Borrower under the Credit RT Facility from time to time provided that the aggregate amount of credit Accommodations extended by each Lender under the Credit RT Facility shall not at any time exceed the Individual Commitment of such Lender with respect to the RT Facility and further provided that the aggregate amount of credit Accommodations outstanding under the Credit RT Facility shall not at any time exceed the amount of the RT Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit Accommodations requested under the Credit RT 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 in accordance with Accommodation under the terms hereofRT Facility, whether such credit Accommodation 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 Accommodation under the Credit RT Facility nor shall the Individual Commitment of any Lender be increased as a result of any such default of another Lender in extending credit Accommodations thereunder. The failure of any Lender to make available to the Borrower its Pro Rata Share of any credit Accommodation under the Credit RT Facility shall not relieve any other relevant Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderAccommodation.

Appears in 2 contracts

Samples: Credit Agreement (CI Financial Corp.), Credit Agreement (CI Financial Corp.)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility Borrowers hereunder from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility Facilities 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 Facilities shall not at any time exceed the amount of the Credit Facility Facilities referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All credit requested under the Credit Facility Facilities by a particular Borrower shall be made available to the such Borrower contemporaneously by all of the LendersLenders who have made an Individual Commitment with respect to such Credit Facility. Each such Lender shall provide to the applicable Borrower its Pro Rata Share of each credit in accordance with the terms hereofunder such 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 with respect to any of the Credit Facilities be increased as a result of any such default of another Lender in extending credit thereunderLender. 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 such Borrower its Pro Rata Share of such credit thereundercredit. Notwithstanding any other provision hereof, the Agent is authorized by the Borrowers and the Lenders to allocate amongst the Lenders the Bankers' Acceptances to be issued and the LIBOR Loans to be advanced under the Credit Facilities in such manner and amounts as the Agent may, in its sole and unfettered discretion acting reasonably, consider necessary, rounding up or down, so as to ensure that no Lender is required to accept a Bankers' Acceptance for a fraction of CDN$100,000 or advance a LIBOR Loan for a fraction of US$200,000 and, in such event, the Lenders' Pro Rata Shares with respect to such Bankers' Acceptances and LIBOR Loans shall be adjusted accordingly. It is acknowledged that such rounding may result in a Lender's Pro Rata Share with respect to such Bankers' Acceptances and LIBOR Loans exceeding its Individual Commitment.

Appears in 2 contracts

Samples: Credit Agreement (Vitran Corp Inc), Credit Agreement (Vitran Corp 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 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 referred Facility. Subject to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 2 contracts

Samples: Credit Agreement (Yamana Gold Inc), Credit Agreement (Yamana Gold 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 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. 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 in accordance with under the terms hereofCredit 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 2 contracts

Samples: Agreement (Triple Flag Precious Metals Corp.), Credit 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 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 referred Facility. Subject to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All 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 in accordance with the terms hereofrelevant 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 Third Amended and Restated Credit Agreement 286042.00038/115243826.6 such default of another Lender in extending credit thereunderunder 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 thereunderunder the Credit Facility.

Appears in 1 contract

Samples: 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 under the Credit Facility Borrowers hereunder from time to time time, provided that the aggregate amount of credit extended by each Lender under the each 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 any of the Credit Facility Facilities shall not at any time exceed the amount of the such Credit Facility referred to in Section 2.1 2.01 as the same may be reduced pursuant to Section 2.42.04. All credit requested under the a particular Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the LendersLenders who have committed to extend credit under such Credit Facility. Each Lender shall provide to the relevant Borrower its Pro Rata Share of each credit in accordance with the terms hereof, ; 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 with respect to any Credit Facility be increased as a result of any such default of another Lender in extending credit thereunderunder such Credit Facility. The failure of any Lender to make available to the a Borrower its Pro Rata Share of any credit under the any 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 thereunderunder such Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Breakwater Resources LTD)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower under the Credit Facility Facilities from time to time provided that the aggregate amount of credit extended by (a) each Gold Loan Facility Lender under the Credit Gold Loan Facility shall not at any time exceed the Individual Gold Loan Facility Commitment of such Lender, (b) each Standby Line Facility Lender under the Standby Line Facility shall not at any time exceed the Individual Standby Line Facility Commitment of such Lender, and further provided that (c) the aggregate amount of credit outstanding under the Credit Gold Loan Facility shall not at any time exceed the amount of the Credit Gold Loan Facility referred to in Section 2.1 as Commitment Amount, and (d) the same may be reduced pursuant to Section 2.4aggregate amount of credit outstanding under the Standby Line Facility shall not at any time exceed the amount of the Standby Line Facility Commitment Amount. All credit requested under the each Credit Facility shall be made available to the Borrower contemporaneously by all of the LendersLenders thereunder. Each Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, 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 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 thereunderunder a Credit Facility. 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 thereunderunder the relevant Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Lake Shore Gold Corp)

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 Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunderthe credit.

Appears in 1 contract

Samples: Credit Agreement (Anixter International Inc)

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 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the a particular 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 in accordance with the terms hereofcredit, 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 thereunderunder such Credit Facility. The failure of any Lender to make available to the 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 Borrower its Pro Rata Share of such credit thereunderunder such Credit Facility. For certainty, all obligations of each Lender hereunder are its several obligations.

Appears in 1 contract

Samples: Credit Agreement (Yamana Gold Inc)

Lenders’ Commitments. Subject to the terms and conditions hereof, the 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 Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the a Credit Facility shall be made available to the Borrower relevant Borrowers contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower relevant Borrowers its Pro Rata Share of each credit in accordance with the terms hereofcredit, 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 thereunderunder the 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 thereunder.credit. At all times that two Credit Facilities exist hereunder, each Lender shall maintain Individual Commitments under each of the NRT Facility and the RT Facility in accordance with its Pro Rata Share. 286042.00064/106711224.9 Credit Agreement - Equinox

Appears in 1 contract

Samples: Credit Agreement (Equinox 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 Borrowers hereunder from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility Facilities 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 Facilities shall not at any time exceed the amount of the Credit Facility Facilities referred to in Section 2.1 2.01 as the same may be reduced pursuant to Section 2.42.04. All credit requested under the Credit Facility Facilities by a particular Borrower shall be made available to the such Borrower contemporaneously by all of the LendersLenders who have made an Individual Commitment with respect to such Credit Facility. Each such Lender shall provide to the applicable Borrower its Pro Rata Share of each credit in accordance with the terms hereofunder such 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 with respect to any of the Credit Facilities be increased as a result of any such default of another Lender in extending credit thereunderLender. 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 such Borrower its Pro Rata Share of such credit thereundercredit. Notwithstanding any other provision hereof, the Agent is authorized by the Borrowers and the Lenders to allocate amongst the Lenders the Bankers’ Acceptances to be issued and the LIBOR Loans to be advanced under the Credit Facilities in such manner and amounts as the Agent may, in its sole and unfettered discretion acting reasonably, consider necessary, rounding up or down, so as to ensure that no Lender is required to accept a Bankers’ Acceptance for a fraction of $100,000 or advance a LIBOR Loan for a fraction of U.S. $200,000 and, in such event, the Lenders’ Pro Rata Shares with respect to such Bankers’ Acceptances and LIBOR Loans shall be adjusted accordingly. It is acknowledged that such rounding may result in a Lender’s Pro Rata Share with respect to such Bankers’ Acceptances and LIBOR Loans exceeding its Individual Commitment.

Appears in 1 contract

Samples: Credit Agreement (Vitran Corp 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 Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. 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 in accordance with the terms hereofcredit, 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 thereunderunder the Credit Facilities. 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 thereunder.credit. Credit Agreement - SilverCrest

Appears in 1 contract

Samples: Credit Agreement (SilverCrest Metals 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 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 referred Facility. Subject to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All 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 in accordance with the terms hereofrelevant 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 thereunderunder 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 thereunder.under the Credit Facility. Amended and Restated Credit Agreement

Appears in 1 contract

Samples: 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 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunderunder such Credit Facility.

Appears in 1 contract

Samples: Credit 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 Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit 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 credit in accordance with under the terms hereofCredit 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 thereunderhereunder. 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 thereunder.. Second Amended and Restated Credit Agreement

Appears in 1 contract

Samples: Credit Agreement (Ero Copper Corp.)

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 referred Facility. Subject to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All 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 credit in accordance with the terms hereofrelevant 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (New Gold Inc. /FI)

AutoNDA by SimpleDocs

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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunder.under the Credit Facility. ​

Appears in 1 contract

Samples: Revolving Facility Credit Agreement (Royal Gold Inc)

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 Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. 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 in accordance with under the terms hereofCredit 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Credit 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 Borrowers hereunder from time to time provided that the aggregate amount of credit extended by each Lender under the Credit Facility Facilities 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 Facilities shall not at any time exceed the amount of the Credit Facility Facilities referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All credit requested under the Credit Facility Facilities by a particular Borrower shall be made available to the such Borrower contemporaneously by all of the LendersLenders who have made an Individual Commitment with respect to such Credit Facility. Each such Lender shall provide to the applicable Borrower its Pro Rata Share of each credit in accordance with the terms hereofunder such 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 with respect to any of the Credit Facilities be increased as a result of any such default of another Lender in extending credit thereunderLender. 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 such Borrower its Pro Rata Share of such credit thereundercredit. Notwithstanding any other provision hereof, the Agent is authorized by the Borrowers and the Lenders to allocate amongst the Lenders the Bankers’ Acceptances to be issued and the LIBOR Loans to be advanced under the Credit Facilities in such manner and amounts as the Agent may, in its sole and unfettered Schedule O 29. discretion acting reasonably, consider necessary, rounding up or down, so as to ensure that no Lender is required to accept a Bankers’ Acceptance for a fraction of CDN$5,000 or advance a LIBOR Loan for a fraction of US$5,000 and, in such event, the Lenders’ Pro Rata Shares with respect to such Bankers’ Acceptances and LIBOR Loans shall be adjusted accordingly. It is acknowledged that such rounding may result in a Lender’s Pro Rata Share with respect to such Bankers’ Acceptances and LIBOR Loans exceeding its Individual Commitment.

Appears in 1 contract

Samples: Credit Agreement (Vitran Corp Inc)

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 amount of credit extended by each relevant Lender under the relevant 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the a particular Credit Facility shall be made available to the relevant Borrower contemporaneously by all of the relevant Lenders. Each relevant Lender shall provide to the relevant Borrower its Pro Rata Share of each credit in accordance with the terms hereofcredit, whether such credit is extended by way of drawdown, rollover or conversion; provided, however, The Bank of Nova Scotia shall not be obligated, in connection with that portion of any extension of credit to the NRT Borrower under the Scotiabank NRT Facility Individual Commitment - Tranche B that has been participated, to extend credit in excess of the aggregate amount of credit received by The Bank of Nova Scotia in immediately available funds from the relevant participant. 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 thereunderunder such Credit Facility. The failure of any relevant 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 relevant Lender of its obligation hereunder to make available to the such Borrower its Pro Rata Share of such credit thereunderunder such Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Kinross Gold Corp)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower BorrowerBorrowers 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. All credit requested under the Credit Facility shall be made available to the Borrower BorrowerBorrowers contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower BorrowerBorrowers its Pro Rata Share of each credit in accordance with the terms hereofcredit, 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 thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower BorrowerBorrowers 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 BorrowerBorrowers its Pro Rata Share of such credit thereunderunder the Credit Facility.

Appears in 1 contract

Samples: 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 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 Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. 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 in accordance with the terms hereofcredit, 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 thereunderunder the Credit Facilities. 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 thereundercredit.

Appears in 1 contract

Samples: 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 referred Facility. Subject to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All 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 in accordance with the terms hereofrelevant 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 thereunderunder 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 thereunder.under the Credit Facility. Credit Agreement - New Gold Inc.

Appears in 1 contract

Samples: 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 under the relevant Credit Facility from time to time provided that the aggregate amount of credit extended by each relevant Lender under the any Credit Facility shall not at any time exceed the Individual Commitment of such relevant Lender with respect to 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 such Credit Facility. Subject to the Credit Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All terms and conditions hereof, all credit requested under the a Credit Facility shall be made available to the Borrower contemporaneously by all of the relevant Lenders. Each relevant Lender shall provide to the Borrower its Pro Rata Share of each credit in accordance with the terms hereofrelevant 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 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 thereunderunder a Credit Facility. 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 relevant Lender of its obligation hereunder to make available to the Borrower its Pro Rata Share of such credit thereunderunder such Credit Facility.

Appears in 1 contract

Samples: Second Amending Agreement (Yamana 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 (i) 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 under the Credit Facility, (ii) the aggregate principal amount of credit outstanding under the Credit Facility shall not at any time exceed the Total Commitment Amount, (iii) the aggregate principal amount of credit extended under Tranche One shall not exceed the Credit Facility referred to in Section 2.1 as Tranche One Limit, and (iv) the same may be reduced pursuant to Section 2.4aggregate principal amount of credit extended under Tranche Two shall not exceed the Tranche Two Limit . All credit requested under the Credit Facility Facility, whether under Tranche One or Tranche Two, 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 in accordance with the terms hereofcredit, whether such credit is extended under Tranche One or Tranche Two or 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Endeavour Silver Corp)

Lenders’ Commitments. Subject to the terms and conditions hereof, the Lenders severally agree to extend credit to the Borrower relevant Borrowers 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. All credit requested under the Credit Facility shall be made available to the Borrower relevant Borrowers contemporaneously by all of the Lenders. Each Lender shall provide to the Borrower relevant Borrowers its Pro Rata Share of each credit in accordance with the terms hereofcredit, 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 thereunderunder the Credit Facility. The failure of any Lender to make available to the Borrower relevant 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 relevant Borrowers its Pro Rata Share of such credit thereundercredit.

Appears in 1 contract

Samples: Credit Agreement (Equinox 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 referred Facility. Subject to in Section 2.1 as the same may be reduced pursuant to Section 2.4. All 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 in accordance with the terms hereofrelevant 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 1 contract

Samples: 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 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereundercredit.

Appears in 1 contract

Samples: Credit Agreement (Equinox 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. 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 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 thereunderunder 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 thereunderunder the Credit Facility. For certainty, all obligations of each Lender hereunder are its several obligations.

Appears in 1 contract

Samples: Credit Agreement (Denison Mines Corp.)

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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Kinam 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 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 referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Facility. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereunderunder the Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Lake Shore 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 Facility referred to in Section 2.1 as the same may be reduced pursuant to Section 2.4Limit. 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 in accordance with the terms hereofcredit, 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 thereunderunder 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 thereundercredit.

Appears in 1 contract

Samples: Credit Agreement (Equinox Gold Corp.)

Time is Money Join Law Insider Premium to draft better contracts faster.