Common use of Administrative Agent Reliance Clause in Contracts

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank before the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 11 contracts

Samples: Pledge and Security Agreement (LaSalle Hotel Properties), Pledge and Security Agreement (LaSalle Hotel Properties), Term Loan Agreement (LaSalle Hotel Properties)

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Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.03 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 9 contracts

Samples: Credit Agreement (Resaca Exploitation, Inc.), Credit Agreement (Resaca Exploitation, Inc.), Credit Agreement (Resaca Exploitation, Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.3(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday for the first three days and thereafter the interest rate applicable to the Advance and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 6 contracts

Samples: Credit Agreement (Hi-Crush Partners LP), Guaranty Agreement (Hi-Crush Partners LP), Credit Agreement (Hi-Crush Partners LP)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Revolving Borrowing or Mandatory Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share of the such Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Overnight Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 6 contracts

Samples: Credit Agreement (National Oilwell Varco Inc), Assignment and Assumption (National Oilwell Varco Inc), Credit Agreement (NOW Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s applicable Pro Rata Share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 4 contracts

Samples: Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share applicable pro rata share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 4 contracts

Samples: Credit Agreement (Jagged Peak Energy Inc.), Credit Agreement (Jagged Peak Energy Inc.), Second Lien Credit Agreement (Triangle Petroleum Corp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.03 and the Administrative Agent may, in reliance upon such assumption, make available to the applicable Borrower, as designated by the Borrower Representative, on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower Borrowers severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the a Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the BorrowerBorrowers, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 4 contracts

Samples: Credit Agreement (Mariner Energy Resources, Inc.), Credit Agreement (Mariner Energy Inc), Credit Agreement (Contango Oil & Gas Co)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such Bank’s Lender's Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.03 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Lender's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (Mariner Energy Inc), Credit Agreement (Mariner Energy Resources, Inc.), Credit Agreement (Atp Oil & Gas Corp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank before the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank’s 's Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s 's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (Lasalle Hotel Properties), Credit Agreement (Lasalle Hotel Properties), Credit Agreement (Lasalle Hotel Properties)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank before the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 3 contracts

Samples: Senior Unsecured Credit Agreement (Lasalle Hotel Properties), Senior Credit Agreement (Eagle Hospitality Properties Trust, Inc.), Senior Unsecured Credit Agreement (Lasalle Hotel Properties)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Revolving Share or Term Share, as applicable, of the Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Revolving Share or Term Share, as applicable, of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Revolving Share or Term Share, as applicable, of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 3 contracts

Samples: Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc), Secured Credit Agreement (Interstate Hotels & Resorts Inc), Senior Secured Credit Agreement (Meristar Hospitality Corp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 Agreement and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (Brigham Exploration Co), Credit Agreement (Brigham Exploration Co), Credit Agreement (Brigham Exploration Co)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such Bank’s Lender's Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.03 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank any Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative AgentAgent (the "Non-Funding Lender"), such Bank Non-Funding Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankNon-Funding Lender, the Federal Funds Rate for each such day. If such Bank Non-Funding Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Non-Funding Lender's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (Alta Mesa Holdings, LP), Credit Agreement (Alta Mesa Holdings, LP), Credit Agreement (Alta Mesa Holdings, LP)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share applicable pro rata share of the such Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing Adjusted Base Rate plus the Applicable Margin; and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (Forum Energy Technologies, Inc.), Credit Agreement (Forum Energy Technologies, Inc.), Credit Agreement (Forum Energy Technologies, Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share applicable pro rata share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 3 contracts

Samples: Credit Agreement (Carbo Ceramics Inc), Credit Agreement (Carbo Ceramics Inc), Credit Agreement (Carbo Ceramics Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank before the date of any Borrowing that such Bank will shall not make available to the Administrative Agent such Bank’s Pro Rata 's Revolver A Share of the Revolver A Borrowing or such Bank's Revolver B Share of a Revolver B Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Revolver A Share or Revolver B Share, as the case may be, of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Revolver A Share or Revolver B Share, as the case may be, of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s 's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Crosstex Energy Lp), Credit Agreement (Crosstex Energy Lp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (aSection 2.02(a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.03 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank any Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative AgentAgent (the “Non-Funding Lender”), such Bank Non-Funding Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankNon-Funding Lender, the Federal Funds Rate for each such day. If such Bank Non-Funding Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankNon-Funding Lender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Silver Run Acquisition Corp II), Credit Agreement (Alta Mesa Energy LLC)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Term Borrowing or Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share applicable pro rata share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Flotek Industries Inc/Cn/), Credit Agreement (Flotek Industries Inc/Cn/)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s applicable Pro Rata Share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing; provided that the Borrower shall not be required to pay such Lender interest for any period for which the Borrower is required to pay interest to the Administrative Agent pursuant to the foregoing sentence.

Appears in 2 contracts

Samples: Credit Agreement (Berry Petroleum Corp), Credit Agreement (Berry Petroleum Corp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Revolving Lender before the date of any Borrowing Date that such Bank Revolving Lender will not make available to the Administrative Agent such BankRevolving Lender’s Revolving Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank Revolving Lender has made its Revolving Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing Date in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the applicable Borrower on such date the Borrowing Date a corresponding amount. If and to the extent that such Bank Revolving Lender shall not have so made its Revolving Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Revolving Lender and the applicable Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the such Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.at

Appears in 2 contracts

Samples: Credit Agreement (MxEnergy Holdings Inc), Credit Agreement (MxEnergy Holdings Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.03, and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank any Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Effective Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Callon Petroleum Co), Credit Agreement (Callon Petroleum Co)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.03, and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank any Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Callon Petroleum Co), Security Agreement (Callon Petroleum Co)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank before the date of any Borrowing that such Bank will shall not make available to the Administrative Agent such Bank’s 's Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a2.02(a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s 's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Holly Energy Partners Lp), Credit Agreement (Holly Energy Partners Lp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.2(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday for the first three days and thereafter the interest rate applicable to the Advance and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Hi-Crush Partners LP), Credit Agreement (Hi-Crush Partners LP)

Administrative Agent Reliance. Unless the Administrative Agent shall ----------------------------- have received notice from a Bank before the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank’s 's Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s 's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (American General Hospitality Corp), Credit Agreement (American General Hospitality Corp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Revolving Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Pioneer Drilling Co), Credit Agreement (Pioneer Drilling Co)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such Bank’s Lender's applicable Pro Rata Share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances Loans comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Advance Lender's Loan as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances Loans comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Extraction Oil & Gas, Inc.), Credit Agreement (Extraction Oil & Gas, Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s applicable Pro Rata Share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances Loans comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance Loan as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances Loans comprising such Borrowing.

Appears in 2 contracts

Samples: Credit Agreement (Extraction Oil & Gas, LLC), Credit Agreement (Extraction Oil & Gas, LLC)

Administrative Agent Reliance. Unless the Administrative Agent ----------------------------- shall have received notice from a Bank before the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank’s 's Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s 's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Lasalle Hotel Properties)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such Bank’s Lender's Pro Rata Share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Revolving Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Lender's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Pioneer Energy Services Corp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (aSection 2.02(a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.. Xxxxx Energy Partners -Operating L.P. Credit Agreement

Appears in 1 contract

Samples: Security Agreement (Holly Energy Partners Lp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.02(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank any Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Subordinated Credit Agreement (Crusader Energy Group Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall ----------------------------- have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such Bank’s Pro Rata Lender's Revolving Share, Term A Share or Term B Share, as applicable, of the Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Revolving Share, Term A Share or Term B Share, as applicable, of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Revolving Share, Term A Share or Term B Share, as applicable, of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Lender's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Meristar Hospitality Corp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date time of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 Agreement and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Brigham Exploration Co)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Revolving Borrowing or Mandatory Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (aSection 2.2(a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the applicable Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower Borrowers severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the any Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the BorrowerBorrowers, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Arkansas Best Corp /De/)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree (without limiting Borrower’s rights under Section 2.12(b)) to immediately repay to the Administrative Agent on demand, and without duplication, such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Senior Unsecured Term Loan Agreement (Seritage Growth Properties)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.03 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank any Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Three Forks, Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Revolving Borrowing or Mandatory Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such BankXxxxxx’s Pro Rata Share of the such Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Overnight Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Year Credit Agreement (NOV Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall have ----------------------------- received notice from a Bank before the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank’s 's Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.such

Appears in 1 contract

Samples: Credit Agreement (American General Hospitality Corp)

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Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share of the such Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Overnight Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: 364 Day Credit Agreement (National Oilwell Varco Inc)

Administrative Agent Reliance. Unless the Administrative ----------------------------- Agent shall have received notice from a Bank before the date of any Revolving Borrowing or Mandatory Revolving Borrowing that such Bank will not make available to the Administrative Agent such Bank’s 's Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s 's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Term Borrowing or Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s applicable Pro Rata Share of the such Borrowing, the Administrative Agent may assume that such Bank Lender has made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Oceaneering International Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank before the date of any the Borrowing that such Bank will not make available to the Administrative Agent such Bank’s 's Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such the Borrowing available to the Administrative Agent on the date of such the Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such the Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such the Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s 's Advance as part of such the Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such the Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Semco Energy Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall ----------------------------- have received notice from a Bank before the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank’s 's Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.such

Appears in 1 contract

Samples: Management Agreement (American General Hospitality Corp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.03(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank any Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Crusader Energy Group Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any the Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such dayBorrowing. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Pledge Agreement (Cano Petroleum, Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any the Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such the Borrowing available to the Administrative Agent on the date of such the Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such the Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree (without limiting Borrower’s rights under Section 2.12(b)) to immediately repay to the Administrative Agent on demand, and without duplication, such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to the Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such the Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such the Borrowing.

Appears in 1 contract

Samples: Senior Unsecured Term Loan Agreement (Seritage Growth Properties)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share applicable pro rata share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing Adjusted Base Rate plus the Applicable Margin; and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Forum Energy Technologies, Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankXxxxxx’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank Xxxxxx has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (aSection 2.02(a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Xxxxx Energy Partners, L.P. 3rd Amended/Restated Credit Agreement Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (HF Sinclair Corp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such Bank’s Lender's Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.03, and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank any Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Lender's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Callon Petroleum Co)

Administrative Agent Reliance. Unless the Administrative Agent ----------------------------- shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such Bank’s Pro Rata Lender's Share of the Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share Share, of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Lender's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Meristar Hotels & Resorts Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank before the date of any Revolving Borrowing or Mandatory Revolving Borrowing that such Bank will not make available to the Administrative Agent such Bank’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.2 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Varco International Inc /De/)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank before the date of any Borrowing that such Bank will not make available to the Administrative Agent such Bank’s 's Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s 's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank before the date of any Borrowing that such Bank will shall not make available to the Administrative Agent such Bank’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a2.02(a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Security Agreement (Holly Energy Partners Lp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing Effective Date that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing Effective Date in accordance with paragraph (a) of this Section 2.02 2.02(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank any Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Second Lien Credit Agreement (Crusader Energy Group Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share applicable pro rata share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Oceaneering International Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank before the date of any Revolving Borrowing that such Bank will not make available to the Administrative Agent such Bank’s 's Pro Rata Share of the such Revolving Borrowing, the Administrative Agent may assume that such Bank has made its Pro Rata Share of such Revolving Borrowing available to the Administrative Agent on the date of such Revolving Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank shall not have so made its Pro Rata Share of such Revolving Borrowing available to the Administrative Agent, such Bank and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Revolving Borrowing and (ii) in the case of such Bank, the Federal Funds Rate for each such day. If such Bank shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s 's Advance as part of such Revolving Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Revolving Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Living Centers of America Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Term Borrowing or Revolving Borrowing that such Bank Lender will not make available to the Administrative Agent such Bank’s Pro Rata Share Lender's applicable pro rata share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Lender's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Boots & Coots International Well Control Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s applicable Pro Rata Share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. .If and to the extent that such Bank Lender shall not have so made its applicable Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Jagged Peak Energy Inc.)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such Bank’s Pro Rata Lender's Revolving Share or Term Share, as applicable, of the Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Revolving Share or Term Share, as applicable, of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Revolving Share or Term Share, as applicable, of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Lender's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankXxxxxx’s Pro Rata Share of the Borrowing, the Administrative Agent may assume that such Bank Xxxxxx has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (aSection 2.02(a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Holly Energy Partners Lp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing relating to the Revolving Commitments or Term Commitments that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Revolving Share or Term Share, as applicable, of the Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Revolving Share or Term Share, as applicable, of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Revolving Share or Term Share, as applicable, of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such Bank’s Pro Rata Share Lender's applicable pro rata share of the any Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 2.4(a), and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share applicable pro rata share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the lesser of (A) the Federal Funds Rate for each such dayday and (B) the Maximum Rate. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such Bank’s Lender's Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Security Agreement (Triangle Petroleum Corp)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank Lender will not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank any Lender shall not have so made its Pro Rata Share of such Borrowing available to Administrative Agent (the Administrative Agent“Non-Funding Lender”), such Bank Non-Funding Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances Loans comprising such Borrowing and (ii) in the case of such BankNon-Funding Lender, the Federal Funds Rate for each such day. If such Bank Non-Funding Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankNon-Funding Lender’s Advance Loan as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances Loans comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Trans Energy Inc)

Administrative Agent Reliance. Unless the Administrative Agent shall have received notice from a Bank Lender before the date of any Borrowing that such Bank will Lender shall not make available to the Administrative Agent such BankLender’s Pro Rata Share of the a Borrowing, the Administrative Agent may assume that such Bank Lender has made its Pro Rata Share of such Borrowing available to the Administrative Agent on the date of such Borrowing in accordance with paragraph (aSection 2.5(a) of this Section 2.02 and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower on such date a corresponding amount. If and to the extent that such Bank Lender shall not have so made its Pro Rata Share of such Borrowing available to the Administrative Agent, such Bank Lender and the Borrower severally agree to immediately repay to the Administrative Agent on demand, and without duplication, demand such corresponding amount, together with interest on such amount, for each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at (i) in the case of the Borrower, the interest rate applicable on each such day to Advances comprising such Borrowing and (ii) in the case of such BankLender, the Federal Funds Rate for each such day. If such Bank Lender shall repay to the Administrative Agent such corresponding amount and interest as provided above, such corresponding amount so repaid shall constitute such BankLender’s Advance as part of such Borrowing for purposes of this Agreement even though not made on the same day as the other Advances comprising such Borrowing.

Appears in 1 contract

Samples: Credit Agreement (Delta Petroleum Corp/Co)

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