Common use of Takeover Loans Clause in Contracts

Takeover Loans. If an Advance under the Working Capital Facility is utilized for the purposes of a Takeover and there are Lenders that have not funded such Advance in accordance with Section 13.7(a), then following the making of any such Advance and notwithstanding any other provision of this Agreement to the contrary, all subsequent Advances under the Working Capital Facility shall be made entirely by the Lenders not funding such Advance until such time as each Lender’s Applicable Percentage of the Outstanding Principal under the Working Capital Facility is equal to its Applicable Percentage of the Total Working Capital Facility Commitment.

Appears in 2 contracts

Sources: Credit Agreement (Kinder Morgan, Inc.), Credit Agreement (Kinder Morgan, Inc.)