Maturity of Loans Mandatory Prepayments. The Borrowers hereby agree that the outstanding principal balance of each Loan shall be payable on the Termination Date; provided that on each date that a Revolving Borrowing is made, the Borrowers shall repay all Swingline Loans borrowed prior to such date and then outstanding.
Maturity of Loans Mandatory Prepayments. (a) Each Loan of each Class shall mature, and the outstanding principal amount thereof shall be due and payable (together with interest accrued thereon), on the Maturity Date for such Class of Loans.
Maturity of Loans Mandatory Prepayments. 15 Section 2.04. Notes........................................................ 16 Section 2.05.
Maturity of Loans Mandatory Prepayments. 34 SECTION 2.06. Interest Rates........................................ 35 SECTION 2.07.
Maturity of Loans Mandatory Prepayments. (a) Upon the expiry of the Revolving Credit Period, the Loan Limit shall be immediately reduced to the Outstanding Principal on the Termination Date. Thereafter on each Principal Repayment Date the Loan Limit shall be reduced by the greater of (a) one-eighth (1/8th) of the Outstanding Principal at the end of the Revolving Credit Period, and (b) 80% of the Net Proceeds from Petroleum Operations for the calendar quarter ended immediately prior to the Principal Repayment Date (in determining Net Proceeds from Petroleum Operations, all currencies other than Canadian Dollars shall be converted into Canadian Dollars at a rate of exchange equal to the average Spot Rate for such calendar quarter). The Borrower shall repay an aggregate amount of the Loans on each Principal Repayment Date such that the Outstanding Principal, after such payment, does not exceed the Loan Limit on the Principal Repayment Date; provided that in any event the outstanding Loans shall be repaid in full not later than the Maturity Date. Each such payment shall be applied to such Loans as the Borrower may designate in a notice in writing to the Agent (or, failing such designation, as determined by the Agent), and shall be applied to repay ratably the Loans of the Banks.
Maturity of Loans Mandatory Prepayments. Section 2.05 of the Credit Agreement is amended to read in full as follows:
Maturity of Loans Mandatory Prepayments. The Borrower shall repay, and there shall become due and payable, on each date set forth below (a "Principal Repayment Date"), an aggregate principal amount of the Loans equal to the amount set forth below with regard to such Principal Repayment Date (or, if less, the aggregate principal amount of all outstanding Loans); provided that in any event the outstanding Loans shall be repaid in full not later than the last Principal Repayment Date; provided further that if on the Termination Date the aggregate principal amount of Loans outstanding is less than $50,000,000, the scheduled repayments of the Loans shall be reduced in inverse order of maturity by an amount equal to the difference between $50,000,000 and the aggregate principal amount of the Loans outstanding on the Termination Date; provided that in the event that the aggregate principal amount of the Loans scheduled to be repaid on the last Principal Repayment Date shall have been so reduced to $4,000,000, the remaining amount of such difference shall be applied to reduce the amount of subsequent scheduled repayments of the Loans ratably. Each such payment shall be applied to such Group or Groups of Loans as the Borrower may designate in the applicable Notice of Borrowing or Notice of Interest Rate Election (or, failing such designation, as determined by the Administrative Agent), and shall be applied to repay ratably the Loans of the several Banks included in such Group or Groups. Principal Amount Repayment of Date Repayment ------------------------------------------------------- ----------------- 15 months after the Effective Date $4,000,000.00 18 months after the Effective Date $4,000,000.00 21 months after the Effective Date $4,000,000.00 24 months after the Effective Date $4,000,000.00 27 months after the Effective Date $4,000,000.00 30 months after the Effective Date $4,000,000.00 33 months after the Effective Date $4,000,000.00 36 months after the Effective Date $22,000,000.00
Maturity of Loans Mandatory Prepayments. Certain Commitment Reductions 36 Section 2.05. Interest Rates 39 Section 2.06. Fees 41 Section 2.07. Optional Termination or Reduction of Commitments 42 Section 2.08. Method of Electing Interest Rates 42 Section 2.09. Mandatory Termination of Commitments 44 Section 2.10. Optional Prepayments 44 Section 2.11. General Provisions as to Payments 44 Section 2.12. Funding Losses 45 Section 2.13. Computation of Interest and Fees 45 Section 2.14. Letters of Credit 45 ARTICLE 3 CONDITIONS Section 3.01. Signing Date 51 Section 3.02. Consequences of Effectiveness 52 Section 3.03. Borrowings and Issuances of Letters of Credit 53
Maturity of Loans Mandatory Prepayments. (a) Scheduled Repayments and Prepayments of Loans; Overline Repayments.
Maturity of Loans Mandatory Prepayments. 21 SECTION 2.04. Interest Rates.................................................22 SECTION 2.05. Method of Electing Interest Rates..............................23 SECTION 2.06. [Intentionally omitted].......................................24 SECTION 2.07. Mandatory Termination of Commitments...........................24 SECTION 2.08.
