Common use of Tranche A Clause in Contracts

Tranche A. The Borrowers hereby agree to pay to the Issuing Lender an amount equal to any amount paid by the Issuing Lender under any Tranche A Letter of Credit, which amount shall be due and payable on demand given by the Issuing Lender to the Borrower Representative. In the event the Issuing Lender makes a payment pursuant to a request for draw presented under a Tranche A Letter of Credit and such payment is not promptly reimbursed by the Borrowers upon demand, the Issuing Lender shall give the Administrative Agent notice of the Borrowers’ failure to make such reimbursement and the Administrative Agent shall promptly notify each Tranche A Lender of the amount necessary to reimburse the Issuing Lender. Upon such notice from the Administrative Agent, each Tranche A Lender shall promptly reimburse the Issuing Lender for such Tranche A Lender’s Pro Rata Share of such amount, and such reimbursement shall be deemed for all purposes of this Agreement to be an Advance to the Borrowers transferred at the Borrowers’ request to the Issuing Lender. If such reimbursement is not made by any Tranche A Lender to the Issuing Lender on the same day on which the Administrative Agent notifies such Tranche A Lender to make reimbursement to the Issuing Lender hereunder, such Tranche A Lender shall pay interest on its Pro Rata Share thereof to the Issuing Lender at a rate per annum equal to the Federal Funds Rate. Each Borrower hereby unconditionally and irrevocably authorizes, empowers, and directs the Administrative Agent and the Tranche A Lenders to record and otherwise treat such reimbursements to the Issuing Lender as Reference Rate Advances under a Borrowing made under the Tranche A Facility at the request of the Borrowers to reimburse the Issuing Lender which have been transferred to the Issuing Lender at the Borrowers’ request.

Appears in 2 contracts

Samples: Credit Agreement (Mariner Energy Inc), Credit Agreement (Mariner Energy Resources, Inc.)

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Tranche A. The Borrowers hereby agree to pay Subject to the Issuing terms and conditions hereof, each Lender an amount equal agrees to any amount paid by the Issuing Lender under any make loans to US Borrower (herein called such Lender's "Tranche A Letter Loans") upon US Borrower's request from time to time during the US Facility Commitment Period, provided that (i) subject to Sections 3.3, 3.4 and 3.5, all Lenders are requested to make Tranche A Loans of Creditthe same Type in accordance with their respective Percentage Shares and as part of the same Borrowing, (ii) such Lender's Percentage Share of the US Facility Usage shall never exceed such Lender's Percentage Share of the US Maximum Credit Amount, and (iii) such Lender's Percentage Share of the Tranche A Facility Usage shall never exceed such Lender's Percentage Share of the Tranche A Maximum Credit Amount. The aggregate amount of all Tranche A Loans in any Borrowing must be an integral multiple of US $100,000 which equals or exceeds US $200,000 or must equal the unadvanced portion of the US Maximum Credit Amount. The obligation of US Borrower to repay to each Lender the aggregate amount of all Tranche A Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender's "Tranche A Note") made by US Borrower payable to the order of such Lender in the form of Exhibit A-1 with appropriate insertions. The amount of principal owing on any Lender's Tranche A Note at any given time shall be the aggregate amount of all Tranche A Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Tranche A Note. Interest on each Tranche A Note shall accrue and be due and payable as provided herein and therein. Each Tranche A Note shall be due and payable on demand given by the Issuing Lender to the Borrower Representative. In the event the Issuing Lender makes a payment pursuant to a request for draw presented under a Tranche A Letter of Credit as provided herein and such payment is not promptly reimbursed by the Borrowers upon demand, the Issuing Lender shall give the Administrative Agent notice of the Borrowers’ failure to make such reimbursement and the Administrative Agent shall promptly notify each Tranche A Lender of the amount necessary to reimburse the Issuing Lender. Upon such notice from the Administrative Agent, each Tranche A Lender shall promptly reimburse the Issuing Lender for such Tranche A Lender’s Pro Rata Share of such amounttherein, and such reimbursement shall be deemed for all purposes of this Agreement to be an Advance to the Borrowers transferred at the Borrowers’ request to the Issuing Lender. If such reimbursement is not made by any Tranche A Lender to the Issuing Lender due and payable in full on the same day on which the Administrative Agent notifies such Tranche A Lender to make reimbursement to the Issuing Lender hereunder, such Tranche A Lender shall pay interest on its Pro Rata Share thereof to the Issuing Lender at a rate per annum equal to the Federal Funds Rate. Each Borrower hereby unconditionally and irrevocably authorizes, empowers, and directs the Administrative Agent and the Tranche A Lenders to record and otherwise treat such reimbursements Maturity Date. Subject to the Issuing Lender as Reference Rate Advances under a Borrowing made terms and conditions hereof, US Borrower may borrow, repay, and reborrow Tranche A Loans under the US Agreement during the US Facility Commitment Period. US Borrower may have no more than ten Borrowings of US Dollar Eurodollar Loans (including Tranche A Facility Loans and Tranche B Loans) outstanding at the request of the Borrowers to reimburse the Issuing Lender which have been transferred to the Issuing Lender at the Borrowers’ requestany time.

Appears in 1 contract

Samples: Credit Agreement (Devon Energy Corp)

Tranche A. The Borrowers hereby agree to pay Subject to the Issuing terms and conditions hereof, each Tranche A Lender agrees to make loans to US Borrower (herein called such Tranche A Lender's "Tranche A Loans") upon US Borrower's request from time to time during the US Facility Commitment Period, provided that (i) subject to Sections 3.3, 3.4 and 3.5, all Tranche A Lenders are requested to make Tranche A Loans of the same Type in accordance with their respective Tranche A Percentage Shares and as part of the same Borrowing, (ii) such Tranche A Lender's Tranche A Percentage Share of the Tranche A Facility Usage shall never exceed such Tranche A Lender's Percentage Share of the Tranche A Maximum Credit Amount, and (iii) such Tranche A Lender's Percentage Share of the US Facility Usage shall never exceed such Tranche A Lender's Percentage Share of the US Maximum Credit Amount. The aggregate amount of all Tranche A Loans in any Borrowing must be an integral multiple of US $100,000 which equals or exceeds US $200,000 or must equal the unadvanced portion of the US Maximum Credit Amount. The obligation of US Borrower to repay to each Tranche A Lender the aggregate amount equal of all Tranche A Loans made by such Tranche A Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Tranche A Lender's "Tranche A Note") made by US Borrower payable to any the order of such Tranche A Lender in the form of Exhibit A-1 with appropriate insertions. The amount paid by the Issuing Lender under of principal owing on any Tranche A Letter Lender's Tranche A Note at any given time shall be the aggregate amount of Credit, which amount all Tranche A Loans theretofore made by such Tranche A Lender minus all payments of principal theretofore received by such Tranche A Lender on such Tranche A Note. Interest on each Tranche A Note shall accrue and be due and payable as provided herein and therein. Each Tranche A Note shall be due and payable on demand given by the Issuing Lender to the Borrower Representative. In the event the Issuing Lender makes a payment pursuant to a request for draw presented under a Tranche A Letter of Credit as provided herein and such payment is not promptly reimbursed by the Borrowers upon demand, the Issuing Lender shall give the Administrative Agent notice of the Borrowers’ failure to make such reimbursement and the Administrative Agent shall promptly notify each Tranche A Lender of the amount necessary to reimburse the Issuing Lender. Upon such notice from the Administrative Agent, each Tranche A Lender shall promptly reimburse the Issuing Lender for such Tranche A Lender’s Pro Rata Share of such amounttherein, and such reimbursement shall be deemed for all purposes of this Agreement to be an Advance to the Borrowers transferred at the Borrowers’ request to the Issuing Lender. If such reimbursement is not made by any Tranche A Lender to the Issuing Lender due and payable in full on the same day on which the Administrative Agent notifies such Tranche A Lender to make reimbursement to the Issuing Lender hereunder, such Tranche A Lender shall pay interest on its Pro Rata Share thereof to the Issuing Lender at a rate per annum equal to the Federal Funds Rate. Each Borrower hereby unconditionally and irrevocably authorizes, empowers, and directs the Administrative Agent and the Tranche A Lenders to record and otherwise treat such reimbursements Maturity Date. Subject to the Issuing Lender as Reference Rate Advances under a Borrowing made terms and conditions hereof, US Borrower may borrow, repay, and reborrow Tranche A Loans under the US Agreement during the US Facility Commitment Period. US Borrower may have no more than ten Borrowings of US Dollar Eurodollar Loans (including Tranche A Facility Loans and Tranche B Loans) outstanding at the request of the Borrowers to reimburse the Issuing Lender which have been transferred to the Issuing Lender at the Borrowers’ requestany time.

Appears in 1 contract

Samples: Credit Agreement (Devon Energy Corp/De)

Tranche A. The Borrowers hereby agree to pay Subject to the Issuing terms and conditions hereof, each Lender an amount equal agrees to any amount paid by the Issuing Lender under any make loans to US Borrower (herein called such Lender's "Tranche A Letter Loans") upon US Borrower's request from time to time during the US Facility Commitment Period, provided that (i) subject to Sections 3.3, 3.4 and 3.5, all Lenders are requested to make Tranche A Loans of Creditthe same Type in accordance with their respective Percentage Shares and as part of the same Borrowing, (ii) such Lender's Percentage Share of the US Facility Usage shall never exceed such Lender's Percentage Share of the US Maximum Credit Amount, and (iii) such Lender's Percentage Share of the Tranche A Facility Usage shall never exceed such Lender's Percentage Share of the Tranche A Maximum Credit Amount. The aggregate amount of all Tranche A Loans in any Borrowing must be an integral multiple of US $100,000 which equals or exceeds US $200,000 or must equal the unadvanced portion of the US Maximum Credit Amount. The obligation of US Borrower to repay to each Lender the aggregate amount of all Tranche A Loans made by such Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Lender's "Tranche A Note") made by US Borrower payable to the order of such Lender in the form of Exhibit A-1 with appropriate insertions. The amount of principal owing on any Lender's Tranche A Note at any given time shall be the aggregate amount of all Tranche A Loans theretofore made by such Lender minus all payments of principal theretofore received by such Lender on such Tranche A Note. Interest on each Tranche A Note shall accrue and be due and payable as provided herein and therein. Each Tranche A Note shall be due and payable as provided herein and therein, and shall be due and payable in full on demand given by the Issuing Lender US Facility Maturity Date. Subject to the terms and conditions hereof, US Borrower Representative. In the event the Issuing Lender makes a payment pursuant to a request for draw presented under a may borrow, repay, and reborrow Tranche A Letter Loans under the US Agreement during the US Facility Commitment Period. US Borrower may have no more than ten Borrowings of Credit and such payment is not promptly reimbursed by the Borrowers upon demand, the Issuing Lender shall give the Administrative Agent notice of the Borrowers’ failure to make such reimbursement and the Administrative Agent shall promptly notify each US Dollar Eurodollar Loans (including Tranche A Lender of the amount necessary to reimburse the Issuing Lender. Upon such notice from the Administrative Agent, each Loans and Tranche A Lender shall promptly reimburse the Issuing Lender for such Tranche A Lender’s Pro Rata Share of such amount, and such reimbursement shall be deemed for all purposes of this Agreement to be an Advance to the Borrowers transferred B Loans) outstanding at the Borrowers’ request to the Issuing Lender. If such reimbursement is not made by any Tranche A Lender to the Issuing Lender on the same day on which the Administrative Agent notifies such Tranche A Lender to make reimbursement to the Issuing Lender hereunder, such Tranche A Lender shall pay interest on its Pro Rata Share thereof to the Issuing Lender at a rate per annum equal to the Federal Funds Rate. Each Borrower hereby unconditionally and irrevocably authorizes, empowers, and directs the Administrative Agent and the Tranche A Lenders to record and otherwise treat such reimbursements to the Issuing Lender as Reference Rate Advances under a Borrowing made under the Tranche A Facility at the request of the Borrowers to reimburse the Issuing Lender which have been transferred to the Issuing Lender at the Borrowers’ requesttime.

Appears in 1 contract

Samples: Credit Agreement (Devon Energy Corp /Ok/)

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Tranche A. The Borrowers hereby agree to pay Subject to the Issuing terms and conditions hereof, each Tranche A Lender agrees (i) that as of the Closing Date, each Tranche A Loan as defined in and outstanding under the Existing US Credit Agreement will be continued automatically as a Tranche A Loan hereunder and (ii) to make loans to US Borrower (herein called such Tranche A Lender's "Tranche A Loans") upon US Borrower's request from time to time during the Tranche A Commitment Period, provided that (i) subject to Sections 3.3, 3.4 and 3.5, all Tranche A Lenders are requested to make Tranche A Loans of the same Type in accordance with their respective Tranche A Percentage Shares and as part of the same Borrowing, (ii) such Tranche A Lender's Tranche A Percentage Share of the Tranche A Facility Usage shall never exceed such Tranche A Lender's Percentage Share of the Tranche A Maximum Credit Amount, (iii) such Tranche A Lender's Percentage Share of the US Facility Usage shall never exceed such Tranche A Lender's Percentage Share of the US Maximum Credit Amount, and (iv) the aggregate amount of the Tranche A Facility Usage and the US Swing Loans outstanding shall never exceed the Tranche A Maximum Credit Amount. The aggregate amount of all Tranche A Loans in any Borrowing must be an integral multiple of US $100,000 which equals or exceeds US $200,000 or must equal the unadvanced portion of the US Maximum Credit Amount. The obligation of US Borrower to repay to each Tranche A Lender the aggregate amount equal of all Tranche A Loans made by such Tranche A Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Tranche A Lender's "Tranche A Note") made by US Borrower payable to any the order of such Tranche A Lender in the form of Exhibit A-1 with appropriate insertions and issued under the Existing US Agreement. The amount paid by the Issuing Lender under of principal owing on any Tranche A Letter Lender's Tranche A Note at any given time shall be the aggregate amount of Credit, which amount all Tranche A Loans theretofore made by such Tranche A Lender minus all payments of principal theretofore received by such Tranche A Lender on such Tranche A Note. Interest on each Tranche A Note shall accrue and be due and payable as provided herein and therein. Each Tranche A Note shall be due and payable on demand given by the Issuing Lender to the Borrower Representative. In the event the Issuing Lender makes a payment pursuant to a request for draw presented under a Tranche A Letter of Credit as provided herein and such payment is not promptly reimbursed by the Borrowers upon demand, the Issuing Lender shall give the Administrative Agent notice of the Borrowers’ failure to make such reimbursement and the Administrative Agent shall promptly notify each Tranche A Lender of the amount necessary to reimburse the Issuing Lender. Upon such notice from the Administrative Agent, each Tranche A Lender shall promptly reimburse the Issuing Lender for such Tranche A Lender’s Pro Rata Share of such amounttherein, and such reimbursement shall be deemed for all purposes of this Agreement to be an Advance to the Borrowers transferred at the Borrowers’ request to the Issuing Lender. If such reimbursement is not made by any Tranche A Lender to the Issuing Lender due and payable in full on the same day on which the Administrative Agent notifies such Tranche A Lender to make reimbursement to the Issuing Lender hereunder, such Tranche A Lender shall pay interest on its Pro Rata Share thereof to the Issuing Lender at a rate per annum equal to the Federal Funds Rate. Each Borrower hereby unconditionally and irrevocably authorizes, empowers, and directs the Administrative Agent and the Tranche A Lenders to record and otherwise treat such reimbursements Maturity Date. Subject to the Issuing Lender as Reference Rate Advances terms and conditions hereof, US Borrower may borrow, repay, and reborrow Tranche A Loans under a Borrowing made under the US Agreement during the Tranche A Facility Commitment Period. US Borrower may have no more than ten Borrowings of US Dollar Eurodollar Loans (including Tranche A Loans and Tranche B Loans) outstanding at the request of the Borrowers to reimburse the Issuing Lender which have been transferred to the Issuing Lender at the Borrowers’ requestany time.

Appears in 1 contract

Samples: Credit Agreement (Devon Energy Corp/De)

Tranche A. The Borrowers hereby agree to pay Subject to the Issuing terms and conditions hereof, each Lender severally agrees to make loans to US Borrower (herein called such Tranche A Lender's "Tranche A Loans") upon US Borrower's request from time to time during the US Facility Commitment Period, provided that (i) subject to Sections 3.3, 3.4 and 3.5, all Tranche A Lenders are requested to make Tranche A Loans of the same Type in accordance with their respective Percentage Shares and as part of the same Borrowing, (ii) the US Facility Usage shall never exceed the US Maximum Credit Amount, (iii) such Tranche A Lender's Percentage Share of the US Facility Usage shall never exceed such Tranche A Lender's Percentage Share of the US Maximum Credit Amount (calculated excluding Competitive Bid Loans), and (iv) such Tranche A Lender's Percentage Share of the Tranche A Facility Usage shall never exceed such Tranche A Lender's Percentage Share of the Tranche A Maximum Credit Amount. The aggregate amount of all Tranche A Loans in any Borrowing must be an integral multiple of US $100,000 which equals or exceeds US $200,000 or, if less, must equal the unadvanced portion of the US Maximum Credit Amount. The obligation of US Borrower to repay to each Tranche A Lender the aggregate amount equal of all Tranche A Loans made by such Tranche A Lender, together with interest accruing in connection therewith, shall be evidenced by a single promissory note (herein called such Tranche A Lender's "Tranche A Note") made by US Borrower payable to any the order of such Tranche A Lender in the form of Exhibit A-1 with appropriate insertions. The amount paid by the Issuing Lender under of principal owing on any Tranche A Letter Lender's Tranche A Note at any given time shall be the aggregate amount of Credit, which amount all Tranche A Loans theretofore made by such Tranche A Lender minus all payments of principal theretofore received by such Tranche A Lender on such Tranche A Note. Interest on each Tranche A Note shall accrue and be due and payable as provided herein and therein. Each Tranche A Note shall be due and payable as provided herein and therein, and shall be due and payable in full on demand given by the Issuing Lender US Facility Maturity Date. Subject to the terms and conditions hereof, US Borrower Representative. In the event the Issuing Lender makes a payment pursuant to a request for draw presented under a may borrow, repay, and reborrow Tranche A Letter Loans under the US Agreement during the US Facility Commitment Period. US Borrower may have no more than ten Borrowings of Credit and such payment is not promptly reimbursed by the Borrowers upon demand, the Issuing Lender shall give the Administrative Agent notice of the Borrowers’ failure to make such reimbursement and the Administrative Agent shall promptly notify each US Dollar Eurodollar Loans (including Tranche A Lender of the amount necessary to reimburse the Issuing Lender. Upon such notice from the Administrative Agent, each Loans and Tranche A Lender shall promptly reimburse the Issuing Lender for such Tranche A Lender’s Pro Rata Share of such amount, and such reimbursement shall be deemed for all purposes of this Agreement to be an Advance to the Borrowers transferred B Loans) outstanding at the Borrowers’ request to the Issuing Lender. If such reimbursement is not made by any Tranche A Lender to the Issuing Lender on the same day on which the Administrative Agent notifies such Tranche A Lender to make reimbursement to the Issuing Lender hereunder, such Tranche A Lender shall pay interest on its Pro Rata Share thereof to the Issuing Lender at a rate per annum equal to the Federal Funds Rate. Each Borrower hereby unconditionally and irrevocably authorizes, empowers, and directs the Administrative Agent and the Tranche A Lenders to record and otherwise treat such reimbursements to the Issuing Lender as Reference Rate Advances under a Borrowing made under the Tranche A Facility at the request of the Borrowers to reimburse the Issuing Lender which have been transferred to the Issuing Lender at the Borrowers’ requesttime.

Appears in 1 contract

Samples: Credit Agreement (Questar Market Resources Inc)

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