Initial Borrowing. This Agreement shall become effective, and the obligation of each Lender to advance the initial Loans hereunder, and of each Issuing Bank to issue any Letter of Credit hereunder, shall only take effect, on the date (the “Effective Date”) on which each of the following conditions has been satisfied (or waived in accordance with Section 10.11): (a) The Administrative Agent shall have received counterparts of this Agreement duly executed (including by facsimile or other electronic means) by all parties to this Agreement, together with the following, all in form and substance reasonably satisfactory to the Administrative Agent and the Co-Lead Arrangers and in sufficient number of signed counterparts, where applicable, to provide one for each Lender:
Appears in 2 contracts
Sources: Five Year Revolving Credit Agreement (Transocean Inc), Five Year Revolving Credit Agreement (Transocean Inc)
Initial Borrowing. This Agreement shall become effective, and the obligation of each Lender to advance the initial Term Loans hereunder, and of each Issuing Bank to issue any Letter of Credit hereunder, hereunder shall only take effect, on the date (the “Effective Date”) on which each of the following conditions has been satisfied (or waived in accordance with Section 10.11):
(a) The Administrative Agent shall have received counterparts of this Agreement duly executed (including by facsimile or other electronic means) by all parties to this Agreement, together with the following, all in form and substance reasonably satisfactory to the Administrative Agent and the Co-Lead Arrangers and in sufficient number of signed counterparts, where applicable, to provide one for each Lender:
Appears in 2 contracts
Sources: Term Credit Agreement (Transocean Inc), Term Credit Agreement (Transocean Inc)
Initial Borrowing. This Agreement shall become effective, and the obligation of each Lender to advance the initial Loans hereunder, and of each Issuing Bank to issue any Letter of Credit hereunder, shall only take effect, on the date (the “Effective Date”) on which each of the following conditions has been satisfied (or waived in accordance with Section 10.11):
(a) The Administrative Agent shall have received counterparts of this Agreement duly executed (including by facsimile or other electronic means) by all parties to this Agreement, together with the following, all in form and substance reasonably satisfactory to the Administrative Agent and the Co-Joint Lead Arrangers and in sufficient number of signed counterparts, where applicable, to provide one for each Lender:
Appears in 1 contract
Sources: 364 Day Revolving Credit Agreement (Transocean Inc)
Initial Borrowing. This Agreement shall become effective, and the obligation of each Lender to advance the initial Loans hereunder, and of each Issuing Bank to issue any Letter of Credit hereunder, shall only take effect, on the date (the “Effective Date”) on which each of the following conditions has been satisfied (or waived in accordance with Section 10.11):
(a) The Administrative Agent shall have received counterparts of this Agreement duly executed (including by facsimile or other electronic means) by all parties to this Agreement, together with the following, all in form and substance reasonably satisfactory to the Administrative Agent and the Co-Lead Arrangers and in sufficient number of signed counterparts, where applicable, to provide one for each Lender:
Appears in 1 contract
Sources: 364 Day Revolving Credit Agreement (Transocean Inc)