Common use of Making the Revolving Loans Clause in Contracts

Making the Revolving Loans. Subject to the terms and conditions hereof and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make revolving loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding the amount of its Revolving Loan Commitment (each individually a “Revolving Loan” and, collectively, the “Revolving Loans”). Subject to the provisions of Section 2.1.3 below, the maximum aggregate amount of the Revolving Loan Commitments shall be $250,000,000. Each Advance under this Section 2.1.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender’s respective Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date. On the Revolving Loan Termination Date, the Borrower shall repay in full the outstanding principal balance of the Revolving Loans. To the extent that a Lender’s Pro Rata Share as shown on Schedule 1 is different for such Lender’s Pro Rata Share under the 2005 Credit Agreement, such Lender hereby assigns or accepts the interests of the other Lenders’ Pro Rata Shares in order to reflect such difference.

Appears in 2 contracts

Samples: Credit Agreement (Superior Energy Services Inc), Credit Agreement (Superior Energy Services Inc)

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Making the Revolving Loans. Subject to From and including the terms and conditions hereof Closing Date and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make revolving loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding (i) the amount of its Revolving Loan Commitment (each individually a "Revolving Loan" and, collectively, the "Revolving Loans”). Subject to ") or (ii) the provisions Borrowing Base, in each case minus the sum of Section 2.1.3 below, the maximum aggregate principal amount of all outstanding Letters of Credit and the Revolving Loan Commitments shall be $250,000,000outstanding principal on the Swing Line Loan. Each Advance under this Section 2.1.1 2.2.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender’s 's respective Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date. On , and all amounts due on the Revolving Loans shall be payable on the Revolving Loan Termination Date, the Borrower shall repay in full the outstanding principal balance of the Revolving Loans. To the extent that a Lender’s Pro Rata Share as shown on Schedule 1 is different for such Lender’s Pro Rata Share under the 2005 Credit Agreement, such Lender hereby assigns or accepts the interests of the other Lenders’ Pro Rata Shares in order to reflect such difference.

Appears in 2 contracts

Samples: Assignment Agreement (Superior Energy Services Inc), Credit Agreement (Superior Energy Services Inc)

Making the Revolving Loans. Subject to From and including the terms and conditions hereof Closing Date and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make revolving loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding the LESSER of (i) the amount of its Revolving Loan Commitment (each individually a "Revolving Loan" and, collectively, the "Revolving Loans"). Subject to , MINUS 100% of the provisions of Section 2.1.3 below, the maximum aggregate principal amount of all Letters of Credit, or (ii) the Revolving Loan Commitments shall be $250,000,000Borrowing Base, MINUS 100% of the principal amount of all Financial Letters of Credit and 25% of the principal amount of all Performance Letters of Credit. Each Advance under this Section 2.1.1 2.2.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender’s 's respective Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date. On the Revolving Loan Termination Date, the Borrower shall repay in full the outstanding principal balance of the Revolving Loans. To the extent that a Lender’s Pro Rata Share as shown on Schedule 1 is different for such Lender’s Pro Rata Share under the 2005 Credit Agreement, such Lender hereby assigns or accepts the interests of the other Lenders’ Pro Rata Shares in order to reflect such difference.

Appears in 1 contract

Samples: Credit Agreement (Unifab International Inc)

Making the Revolving Loans. (a) Subject to the terms and conditions hereof and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make revolving loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding the amount of its Revolving Loan Commitment (each individually a “Revolving Loan” and, collectively, the “Revolving Loans”). Subject to the provisions of Section 2.1.3 2.4(b) below, the maximum aggregate amount of the Revolving Loan Commitments shall be $250,000,000325,000,000. Each Advance under this Section 2.1.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender’s respective Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date. On the Revolving Loan Termination Date, the Borrower shall repay in full the outstanding principal balance of the Revolving Loans. To The Advances must be either Floating Rate Advances or Eurodollar Advances, or a combination thereof, selected by the extent that a Lender’s Pro Rata Share as shown on Schedule 1 is different for such Lender’s Pro Rata Share under the 2005 Credit Agreement, such Lender hereby assigns Borrower or accepts the interests of the other Lenders’ Pro Rata Shares otherwise outstanding in order to reflect such differenceaccordance with Sections 2.7 and 2.8.

Appears in 1 contract

Samples: Credit Agreement (Superior Energy Services Inc)

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Making the Revolving Loans. Subject to From and including the terms and conditions hereof Closing Date and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to to: (i) make revolving loans to the Borrower from time to time in amounts an amount not to exceed in the aggregate at any one time outstanding the amount of its Revolving Loan Commitment (each individually individually, a "Revolving Loan" and, collectively, the "Revolving Loans"). Subject ; and (ii) to participate in Facility LCs issued pursuant to Section 2.19 upon the request of the Borrower, provided, that after giving effect to the provisions making of Section 2.1.3 below, the maximum aggregate amount of the each such Revolving Loan Commitments and the issuance of each such Facility LC, such Lender's Outstanding Revolving Credit Exposure shall be $250,000,000not exceed its Revolving Loan Commitment. Each Advance under this Section 2.1.1 2.2.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender’s 's respective Revolving Loan Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date. On the Revolving Loan Termination Date, the Borrower shall repay in full the outstanding principal balance of the Revolving Loans. To the extent that a Lender’s Pro Rata Share as shown on Schedule 1 is different for such Lender’s Pro Rata Share under the 2005 Credit Agreement, such Lender hereby assigns or accepts the interests of the other Lenders’ Pro Rata Shares in order to reflect such difference.

Appears in 1 contract

Samples: Credit Agreement (Roundys Inc)

Making the Revolving Loans. Subject to From and including the terms and conditions hereof Closing Date and prior to the Revolving Loan Termination Date, each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make revolving loans to the Borrower from time to time in amounts not to exceed in the aggregate at any one time outstanding the amount of its Revolving Loan Commitment (each individually a “Revolving Loan” and, collectively, the “Revolving Loans”). Subject to the provisions of Section 2.1.3 below, the maximum aggregate amount of the Revolving Loan Commitments shall be $250,000,000150,000,000. Each Advance under this Section 2.1.1 shall consist of Revolving Loans made by each Lender ratably in proportion to such Lender’s respective Pro Rata Share, it being understood that no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan hereunder nor shall the Revolving Loan Commitment of any Lender be increased or decreased as a result of any such failure. Subject to the terms of this Agreement, the Borrower may borrow, repay and reborrow Revolving Loans at any time prior to the Revolving Loan Termination Date. The Revolving Loan Commitments of the Lenders shall expire on the Revolving Loan Termination Date. On the Revolving Loan Termination Date, the Borrower shall repay in full the outstanding principal balance of the Revolving Loans. To the extent that a Lender’s Pro Rata Share as shown on Schedule 1 is different for such Lender’s Pro Rata Share under the 2005 2003 Credit Agreement, such Lender hereby assigns or accepts the interests of the other Lenders’ Pro Rata Shares in order to reflect such difference.

Appears in 1 contract

Samples: Assignment Agreement (Superior Energy Services Inc)

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