Loans and Borrowing. (a) The failure of any New Lender to make a New Loan required to be made by it shall not relieve any other New Lender of its obligations hereunder; provided, however, that the New Commitments of the New Lenders are several and no New Lender shall be responsible for any other New Lender’s failure to make its New Loan as required. (b) Each New Lender at its option may make any New Loan by causing any domestic or foreign Lending Office of such New Lender to make such New Loan; provided, however, that the exercise of such option shall not affect the obligation of the Borrower to repay such New Loan in accordance with the terms of this Agreement. (c) There shall be a single Borrowing of the New Loans hereunder, and such Borrowing shall only occur on the Restatement Effective Date. The aggregate amount of the New Loans shall not exceed the aggregate amount of the New Commitments. (d) This Agreement is not a revolving credit agreement. Any amounts prepaid or repaid hereunder may not be reborrowed.
Appears in 3 contracts
Sources: Pre Export Credit Agreement (Canuelas Mill S.A.C.I.F.I.A.), Pre Export Credit Agreement (Canuelas Mill S.A.C.I.F.I.A.), Pre Export Credit Agreement (Canuelas Mill S.A.C.I.F.I.A.)