Common use of Postpetition Commitment Clause in Contracts

Postpetition Commitment. On the terms and conditions set forth in this Agreement, the Postpetition Lender agrees to make one or more advances to the Borrower as set forth in the DIP Budget approved by the Postpetition Lender, during the period beginning on the date the conditions precedent set forth in Article 3 are satisfied or waived in writing by the Postpetition Lender and ending on the Business Day immediately preceding the Maturity Date (“Termination Date”), in an aggregate principal amount not to exceed Fifteen Million Six Hundred Thousand and No/100 ($15,600,000.00), including the Roll-Up Amount and the principal amounts of all other advances made hereunder (“Postpetition Commitment”). The Postpetition Loans shall mature and be due and payable in full at 12:00 p.m. (Minneapolis, Minnesota time) on the Maturity Date. The Postpetition Loans that are subsequently repaid may not be reborrowed. The Postpetition Commitment shall be reduced by the principal amount of the Advances when made. Prior to entry of the Final Order, the aggregate principal balance of the Postpetition Loans shall not exceed the Interim Amount (as defined in the Interim Order).

Appears in 1 contract

Sources: Credit Agreement (Verasun Energy Corp)

Postpetition Commitment. On the terms and conditions set forth in this Agreement, the Postpetition Lender agrees to make one or more advances to the Borrower as set forth in the DIP Budget approved by the Postpetition Lender, during the period beginning on the date the conditions precedent set forth in Article 3 are satisfied or waived in writing by the Postpetition Lender and ending on the Business Day immediately preceding the Maturity Date (“Termination Date”), in an aggregate principal amount not to exceed Fifteen [_ Million Six Hundred Thousand and No/100 Dollars ($15,600,000.00$ _)], including the Roll-Up Amount and the principal amounts of all other advances made hereunder (“Postpetition Commitment”). The Postpetition Loans shall mature and be due and payable in full at 12:00 p.m. (Minneapolis, Minnesota time) on the Maturity Date. The Postpetition Loans that are subsequently repaid may not be reborrowed. The Postpetition Commitment shall be reduced by the principal amount of the Advances when made. Prior to entry of the Final Order, the aggregate principal balance of the Postpetition Loans shall not exceed the Interim Amount (as defined in the Interim Order).

Appears in 1 contract

Sources: Credit Agreement

Postpetition Commitment. On the terms and conditions set forth in this Agreement, the Postpetition Lender agrees to make one or more advances to the Borrower as set forth in the DIP Budget approved by the Postpetition Lender, during the period beginning on the date the conditions precedent set forth in Article 3 are satisfied or waived in writing by the Postpetition Lender and ending on the Business Day immediately preceding the Maturity Date (“Termination Date”), in an aggregate principal amount not to exceed Fifteen Nineteen Million Six Two Hundred Thousand and No/100 ($15,600,000.00)19,200,000.00) Dollars, including the Roll-Up Amount and the principal amounts of all other advances made hereunder (“Postpetition Commitment”). The Postpetition Loans shall mature and be due and payable in full at 12:00 p.m. (Minneapolis, Minnesota time) on the Maturity Date. The Postpetition Loans that are subsequently repaid may not be reborrowed. The Postpetition Commitment shall be reduced by the principal amount of the Advances when made. Prior to entry of the Final Order, the aggregate principal balance of the Postpetition Loans shall not exceed the Interim Amount (as defined in the Interim Order).

Appears in 1 contract

Sources: Credit Agreement (Verasun Energy Corp)

Postpetition Commitment. On the terms and conditions set forth in this Agreement, the Postpetition Lender agrees to make one or more advances to the Borrower as set forth in the DIP Budget approved by the Postpetition Lender, during the period beginning on the date the conditions precedent set forth in Article 3 are satisfied or waived in writing by the Postpetition Lender and ending on the Business Day immediately preceding the Maturity Date (“Termination Date”), in an aggregate principal amount not to exceed Fifteen Twenty Three Million Six Four Hundred Thousand and No/100 ($15,600,000.00)23,400,000.00) Dollars, including the Roll-Up Amount and the principal amounts of all other advances made hereunder (“Postpetition Commitment”). The Postpetition Loans shall mature and be due and payable in full at 12:00 p.m. (Minneapolis, Minnesota time) on the Maturity Date. The Postpetition Loans that are subsequently repaid may not be reborrowed. The Postpetition Commitment shall be reduced by the principal amount of the Advances when made. Prior to entry of the Final Order, the aggregate principal balance of the Postpetition Loans shall not exceed the Interim Amount (as defined in the Interim Order).

Appears in 1 contract

Sources: Credit Agreement (Verasun Energy Corp)

Postpetition Commitment. On the terms and conditions set forth in this Agreement, the Postpetition Lender agrees to make one or more advances to the Borrower as set forth in the DIP Budget approved by the Postpetition Lender, during the period beginning on the date the conditions precedent set forth in Article 3 are satisfied or waived in writing by the Postpetition Lender and ending on the Business Day immediately preceding the Maturity Date (“Termination Date”), in an aggregate principal amount not to exceed Fifteen Twenty Five Million Six Two Hundred Thousand and No/100 ($15,600,000.00)25,200,000.00) Dollars, including the Roll-Up Amount and the principal amounts of all other advances made hereunder (“Postpetition Commitment”). The Postpetition Loans shall mature and be due and payable in full at 12:00 p.m. (Minneapolis, Minnesota time) on the Maturity Date. The Postpetition Loans that are subsequently repaid may not be reborrowed. The Postpetition Commitment shall be reduced by the principal amount of the Advances when made. Prior to entry of the Final Order, the aggregate principal balance of the Postpetition Loans shall not exceed the Interim Amount (as defined in the Interim Order).

Appears in 1 contract

Sources: Credit Agreement (Verasun Energy Corp)

Postpetition Commitment. On the terms and conditions set forth in this Agreement, the Postpetition Lender agrees to make one or more advances to the Borrower as set forth in the DIP Budget approved by the Postpetition Lender, during the period beginning on the date the conditions precedent set forth in Article 3 are satisfied or waived in writing by the Postpetition Lender and ending on the Business Day immediately preceding the Maturity Date (“Termination Date”), in an aggregate principal amount not to exceed Fifteen Thirteen Million Six Four Hundred Thousand and No/100 ($15,600,000.00)13,400,000.00) Dollars, including the Roll-Up Amount and the principal amounts of all other advances made hereunder (“Postpetition Commitment”). The Postpetition Loans shall mature and be due and payable in full at 12:00 p.m. (Minneapolis, Minnesota time) on the Maturity Date. The Postpetition Loans that are subsequently repaid may not be reborrowed. The Postpetition Commitment shall be reduced by the principal amount of the Advances when made. Prior to entry of the Final Order, the aggregate principal balance of the Postpetition Loans shall not exceed the Interim Amount (as defined in the Interim Order).

Appears in 1 contract

Sources: Credit Agreement (Verasun Energy Corp)

Postpetition Commitment. On the terms and conditions set forth in this Agreement, the Postpetition Lender agrees to make one or more advances to the Borrower as set forth in the DIP Budget approved by the Postpetition Lender, during the period beginning on the date the conditions precedent set forth in Article 3 are satisfied or waived in writing by the Postpetition Lender and ending on the Business Day immediately preceding the Maturity Date (“Termination Date”), in an aggregate principal amount not to exceed Fifteen Ten Million Six Eight Hundred Thousand and No/100 ($15,600,000.00)10,800,000.00) Dollars, including the Roll-Up Amount and the principal amounts of all other advances made hereunder (“Postpetition Commitment”). The Postpetition Loans shall mature and be due and payable in full at 12:00 p.m. (Minneapolis, Minnesota time) on the Maturity Date. The Postpetition Loans that are subsequently repaid may not be reborrowed. The Postpetition Commitment shall be reduced by the principal amount of the Advances when made. Prior to entry of the Final Order, the aggregate principal balance of the Postpetition Loans shall not exceed the Interim Amount (as defined in the Interim Order).

Appears in 1 contract

Sources: Credit Agreement (Verasun Energy Corp)

Postpetition Commitment. On the terms and conditions set forth in this Agreement, the Postpetition Lender agrees to make one or more advances to the Borrower as set forth in the DIP Budget approved by the Postpetition Lender, during the period beginning on the date the conditions precedent set forth in Article 3 are satisfied or waived in writing by the Postpetition Lender and ending on the Business Day immediately preceding the Maturity Date (“Termination Date”), in an aggregate principal amount not to exceed Fifteen Three Million Six Hundred Thousand and No/100 Dollars ($15,600,000.00), including the Roll-Up Amount 3,000,000.00) and the principal amounts of all other advances made hereunder (“Postpetition Commitment”). The Postpetition Loans shall mature and be due and payable in full at 12:00 p.m. (Minneapolis, Minnesota time) on the Maturity Date. The Postpetition Loans that are subsequently repaid may not be reborrowed. The Postpetition Commitment shall be reduced by the principal amount of the Advances when made. Prior to entry of the Final Order, the aggregate principal balance of the Postpetition Loans shall not exceed the Interim Amount (as defined in the Interim Order).

Appears in 1 contract

Sources: Credit Agreement (Verasun Energy Corp)