Lending Commitments Clause Samples

Lending Commitments. (a) On the terms and subject to the conditions hereof, the Bank agrees to make available to the Borrower a credit facility available as loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) on a revolving basis at any time and from time to time from the Closing Date to the Revolving Loan Termination Date, during which period the Borrower may borrow, repay and re-borrow in accordance with the provisions hereof, provided, the unpaid principal amount of outstanding Revolving Loans shall not at any time exceed the Revolving Commitment Amount. (b) On the terms and subject to the conditions hereof, the Bank agrees to make available to the Borrower a term loan (“Term Loan”) available in up to five advances (each, a “Term Loan Advance”) at any time and from time to time from the Closing Date to the Term Loan Advance Ending Date in an aggregate amount of Term Loan Advances not to exceed the Term Loan Commitment Amount. Upon the earlier of the making of aggregate Term Loan Advances in the amount of the Term Loan Commitment and the occurrence of the Term Loan Advance Ending Date, the Term Loan Commitment shall expire. Amounts paid or prepaid on the Term Loan may not be reborrowed.

Lending Commitments. On the terms and subject to the conditions hereof, each Bank severally agrees to make a revolving credit facility available as loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower on a revolving basis at any time and from time to time from the Closing Date to the Revolving Loan Termination Date, during which period the Borrower may borrow, repay and reborrow in accordance with the provisions hereof; provided, that no Revolving Loan will be made in any amount which, after giving effect thereto, would cause the Total Revolving Outstandings to exceed the Aggregate Revolving Commitment Amounts. Revolving Loans hereunder shall be made by the several Banks ratably in accordance with their respective Revolving Percentages. Revolving Loans may be obtained and maintained, at the election of the Borrower but subject to the limitations hereof, as Base Rate Advances or Eurodollar Rate Advances.

Lending Commitments. The Company and Statesman shall have received lending commitments from financial institutions satisfactory to the Agents of not less than $400,000,000 in the aggregate for this Credit Facility and the Statesman Credit Facility.

Lending Commitments. On the terms and subject to the conditions hereof, each Lender severally agrees to make loans (each a “Loan” and collectively, “Loans”) to the Borrower from time to time during the period from the Effective Date to the Applicable Termination Date, in an aggregate amount at any time outstanding not to exceed such Lender’s Percentage of the Aggregate Commitment Amount (and in no event exceeding such Lender’s Commitment Amount). Loans hereunder shall be made by the several Lenders ratably in the proportion of their respective Percentages. Loans may be obtained and maintained, at the election of the Borrower but subject to the limitations hereof, as LIBOR Advances or Base Rate Advances.

Lending Commitments. Section 2.1 of the Credit Agreement is amended by (i) adding the phrase "in respect of its Revolving Commitment" after the term "Advances" wherever such term appears therein, and (ii) adding thereto the following subsection (c):

Lending Commitments. Buyer and Sellers acknowledge that Buyer has loaned $445,000 to the Company as of the date of this Agreement. These loans shall be evidenced by a Loan Agreement and Promissory Note to be signed at the Closing. Such Loan Agreement and Promissory Note shall be in the form of exhibits 5 and 6 attached to this Agreement. Interest on fluids loaned to the Company shall accrue at eight percent. Interest on the loan shall be paid quarterly and all interest and principal shall be due and payable on or before April 30, 2001, all as provided in the Loan Agreement and Promissory Note.

Lending Commitments. On the terms and subject to the conditions hereof:

Lending Commitments. From the Effective Date until the Facility Termination Date, subject to the terms and conditions set forth in this Agreement, each USD Tranche Lender severally agrees with the other USD Tranche Lenders to make USD Tranche Loans to Borrowers in U.S. Dollars and participate in USD Tranche LCs issued upon the request of Company, and each Multicurrency Tranche Lender severally agrees with the other Multicurrency Tranche Lenders to make Multicurrency Tranche Loans in U.S. Dollars or Canadian Dollars, and to participate in Multicurrency Tranche LCs, provided that, after giving effect to the making of each such Loan and the issuance of each such Facility LC: (i) the U.S. Dollar Amount of such Lender’s Outstanding Credit Exposure shall not exceed its Commitment Amount; (ii) the Aggregate Outstanding USD Tranche Credit Exposure shall not exceed the Aggregate USD Tranche Commitment Amount; (iii) the Aggregate Outstanding Multicurrency Tranche Credit Exposure shall not exceed the Aggregate Multicurrency Tranche Commitment Amount; (iv) the Aggregate Outstanding Credit Exposure owing by Borrowing Subsidiaries shall not exceed the Maximum Borrowing Subsidiary Amount; and (v) all Base Rate Loans shall be made in U.S. Dollars. Subject to the terms of this Agreement, Borrowers may borrow, repay, and reborrow at any time before the Facility Termination Date. LC Issuer shall issue Facility LCs on the terms and conditions set forth in Part B of this Article II. Loans may be obtained and maintained, at Company’s election but subject to the limitations of this Agreement, as Base Rate Advances or Eurocurrency Advances. On the Effective Date, Company, Agent, and the Lenders acknowledge and agree that the aggregate outstanding principal balance of the “Revolving Loans” under the Existing Credit Agreement shall be deemed to be the initial USD Tranche Revolving Loans under this Agreement. There are no Multicurrency Tranche Revolving Loans on the Effective Date. The Commitments to extend credit under this Agreement expire on the Facility Termination Date. Borrowers shall pay all Obligations in full on the Facility Termination Date.

Lending Commitments. On the terms and subject to the conditions hereof, the Bank agrees to make available to the Borrower a credit facility available as loans (each, a “Revolving Loan” and, collectively, the “Revolving Loans”) on a revolving basis at any time and from time to time from the Closing Date to the Termination Date, during which period the Borrower may borrow, repay and re-borrow in accordance with the provisions hereof, provided, the unpaid principal amount of outstanding Revolving Loans shall not at any time exceed the Revolving Commitment Amount.