Common use of Senior Secured Bank Indebtedness Clause in Contracts

Senior Secured Bank Indebtedness. Except to service obligations in connection with the Notes issued pursuant to this offering, the Company shall not permit the total drawdown amount under the credit facilities provided to the subsidiaries of the Transaction Subsidiaries to exceed $130,000,000, in the aggregate, without the prior written consent of sixty-seven percent (67%)of the Note holders, based on then-outstanding principal amounts of Notes at the time of such determination (Note holders holding at least 67% of the outstanding principal under the Notes at such time).

Appears in 3 contracts

Samples: Securities Purchase Agreement (Camber Energy, Inc.), Securities Purchase Agreement (Viking Energy Group, Inc.), Securities Purchase Agreement (Camber Energy, Inc.)

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Senior Secured Bank Indebtedness. Except to service obligations in connection with the Notes issued pursuant to this offering, the Company shall not permit the total drawdown amount under the credit facilities provided to the subsidiaries of the Transaction Subsidiaries to exceed $130,000,000, in the aggregate, without the prior written consent of sixty-seven percent (67%)of 67%) of the Note holders, based on then-outstanding principal amounts of Notes at the time of such determination (Note holders holding at least 67% of the outstanding principal under the Notes at such time).

Appears in 2 contracts

Samples: Securities Purchase Agreement (Viking Energy Group, Inc.), Securities Purchase Agreement (Camber Energy, Inc.)

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