Common use of U.S. Committed Loans Clause in Contracts

U.S. Committed Loans. Subject to the terms and conditions set forth herein, each US Lender severally agrees to make loans to the US Facility Borrower from time to time (each such loan, a “US Committed Loan”), on any Business Day during the Availability Period, provided, however, that after giving effect to any US Committed Borrowing, (i) the Total US Outstandings shall not exceed the Aggregate US Commitments and (ii) the aggregate Outstanding Amount of the US Committed Loans of any US Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all US L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all US Swing Line Loans shall not exceed the US Commitment of such Lender. Within the limits of the US Commitment of each US Lender, and subject to the other terms and conditions hereof, the US Facility Borrower may borrow under this Section 2.01, prepay under Section 2.06, and reborrow under this Section 2.01. US Committed Loans may be US Base Rate Committed Loans or US Eurodollar Rate Committed Loans, as further provided herein.

Appears in 1 contract

Sources: Credit Agreement (Burlington Resources Inc)

U.S. Committed Loans. Subject to the terms and conditions set forth herein, each US Lender severally agrees to make loans to the US Facility Borrower from time to time (each such loan, a “US Committed Loan”)) to the US Borrower from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of the US Commitment of such Lender; provided, however, that after giving effect to any US Committed Borrowing, (i) the Total US Outstandings shall not exceed the Aggregate US Commitments Commitments, and (ii) the aggregate Outstanding Amount of the US Committed Loans of any US Lender, plus such Lender’s Pro Rata Share of the Outstanding Amount of all US L/C Obligations, plus such Lender’s Pro Rata Share of the Outstanding Amount of all US Swing Line Loans shall not exceed the US Commitment of such Lender. Within the limits of the US Commitment of each US Lender, and subject to the other terms and conditions hereof, the US Facility Borrower may borrow under this Section 2.01, prepay under Section 2.06, and reborrow under this Section 2.01. US Committed Loans may be US Base Rate Committed Loans or US Eurodollar Rate Committed Loans, as further provided herein.

Appears in 1 contract

Sources: Credit Agreement (Devon Energy Corp/De)