Around might be no volunteer prepayments of any Mortgage produced hereunder
(i) During the Commitment Period, subject to the terms and conditions hereof, including, without limitation delivery of an updated Borrowing Base Certificate and Borrowing Base Report, each Lender severally agrees to make Loans to Company in an aggregate amount up to but not exceeding such Lender’s Commitment; offered that no Lender shall make any such Loan or portion thereof to the extent that, after giving effect to such Loan:
(b) Amounts borrowed pursuant to Point dos.1(a) may be reborrowed during the Commitment Period, and any repayment of the Loans (i) subject to clause (ii), on any Interest Payment Date shall be applied as set forth in Point dos.12(a) or ( ii) on any date on which an Event of Default has occurred and is continuing shall be applied as set forth in Area dos.12(b).
(ii) And if Team desires one Loan providers make Finance, Company will deliver to help you Paying Agent, Administrative Agent and every Bank a completely carried out and produced Financial support Find no afterwards than just Noon (Nyc time) at the least several (2) Business days before the newest proposed Credit Day. Per Capital See will be lead having a borrowing from the bank Foot Certificate showing adequate Availability into the requested Finance payday loans in MT and you will a borrowing from the bank Ft Declaration.
(iii) For each Financial shall make the number of its Mortgage accessible to the latest Paying Representative not later than simply a beneficial.yards. (New york big date) to your applicable Borrowing from the bank Date by the cord transfer regarding exact same day money from inside the Cash, and you may upon the latest created assistance of one’s Management Broker, new Paying Broker shall remit including funds to help you Business perhaps not later on than 4:00 p.m. (New york day) by wire transfer from same time money within the Bucks into account designated because of the Team in the associated Money Find (that need not a free account of your own Providers). In the event the Paying Representative has not yet obtained an authored guidelines from the newest Administrative Representative of the 4:00 p.m. (New york city day), Spending Agent often wire particularly funds back again to applicable Loan providers.
(d) . All payments of principal, interest, fees, unpaid Transaction Costs, and other amounts payable to Lenders or parties under this Agreement or any Credit Document may be paid from the proceeds of Loans, made pursuant to a Funding Notice from Company pursuant to Area dos.1(c)(ii).
Deemed Wants Fund to expend Necessary Costs
(i) Asks for Boost. So long as (i) no Event of Default or Default has occurred and is continuing, (ii) the Total Utilization of Commitments is at least equal to 50% of the Commitments of all Lenders and (iii) each Lender has been provided with any diligence and cash flow audit information it has requested and had adequate time to review, upon notice to the Administrative Agent and each Lender, Company may from time to time request an increase in the Commitment with respect to any Lender (with the written consent of the Administrative Agent in its sole and absolute discretion) at any time following the Closing Date and prior to the Commitment Termination Date with respect to such Lender.
For every single Lender’s Commitment shall expire into the Partnership Cancellation Go out and you may every Loans and all of almost every other quantity due hereunder in terms of the fresh new Money and the Commitments should be paid-in full no after versus Readiness Time
(ii) Elections to boost. Each Lender being asked to increase its Commitment shall notify Company whether or not such Person agrees, in its respective sole and absolute discretion, to the increase to such Commitment. Any such Person not responding within 10 Business Days after receipt of such request for an increase shall be deemed to have declined to consent to an increase in such Lender’s Commitment.