Common use of Mandatory Principal Payments Clause in Contracts

Mandatory Principal Payments. (a) If, at any time, the Outstanding Balance shall exceed the Commitment Amount, Borrower shall, not later than 30 days after written notice thereof from BOTW: (1) pay the excess to BOTW in a lump sum; or (2) commence (and thereafter continue) an amortization schedule under which Borrower repays an amount at least equal to the excess in six equal monthly principal installments on the last Business Day of each calendar month, which amounts shall be in addition to the monthly interest payments and any other principal payments otherwise due, such that the entire excess is paid within six months; or (3) execute and deliver to BOTW additional mortgages, supplements to mortgages or other instruments in form and substance reasonably satisfactory to BOTW, by which Borrower mortgages, pledges or hypothecates to BOTW, or creates a security interest in for the benefit of BOTW, sufficient additional Oil and Gas Interests to induce BOTW to make a redetermination of the Borrowing Base such that the Commitment Amount is increased to an amount no less than the Outstanding Balance. (b) The outstanding principal balance of the Revolving Loan, together with all unpaid fees and expenses relating thereto, shall be due and payable not later than the Maturity Date (Revolving).

Mandatory Principal Payments. (a) If, at any time, the Outstanding outstanding Balance shall exceed the Commitment Amount, Borrower shall, not later than 30 10 days after written notice thereof from BOTW: BOK: (1) pay the excess to BOTW BOK in a lump sum; or (2) commence (and thereafter continue) an amortization schedule under which Borrower repays an amount at least equal to the excess in six equal monthly principal installments on the last Business Day of each calendar month, which amounts shall be in addition to the monthly interest payments and any other principal payments otherwise due, such that the entire excess is paid within six months; or (3) execute and deliver to BOTW BOK additional mortgages, supplements to mortgages or other instruments satisfactory in form and substance reasonably satisfactory to BOTWBOK, by which Borrower mortgages, pledges or hypothecates to BOTWBOK, or creates a security interest in for the benefit of BOTWBOK, sufficient additional Oil and Gas Interests to induce BOTW BOK to make a redetermination of the Borrowing Base such that the Commitment Amount is increased to an amount no less than the Outstanding Balance. (b) The outstanding principal balance of the Revolving Loan, together with all unpaid fees and expenses relating thereto, shall be due and payable not later than the Maturity Date (Revolving). (c) The outstanding principal balance of the Hedging Loan, together with all unpaid fees and expenses relating thereto, shall be due and payable not later than the Maturity Date (Hedging).

Mandatory Principal Payments. (a) If, at any time, the Outstanding Balance outstanding principal balance of all Advances plus the sum of the face amounts of all outstanding Letters of Credit shall exceed the Commitment Amount, Borrower shall, not later than 30 10 days after written notice thereof from BOTW: (1) pay the excess to BOTW in a lump sum; : or (2) commence (and thereafter continue) an amortization schedule under which Borrower repays an amount at least equal to the excess in six equal monthly principal installments on the last Business Day of each calendar month, which amounts shall be in addition to the monthly interest payments and any other principal payments otherwise due, such that the entire excess is paid within six months; : or (3) execute and deliver to BOTW additional mortgages, supplements to mortgages or other instruments satisfactory in form and substance reasonably satisfactory to BOTW, by which Borrower mortgages, pledges or hypothecates to BOTW, or creates a security interest in for the benefit of BOTW, sufficient additional Oil and Gas Interests to induce BOTW to make a redetermination of the Borrowing Base such that the Commitment Amount is increased to an amount no less than the Outstanding Balanceoutstanding principal balance of all Advances plus the sum of the face amounts of all outstanding Letters of Credit. (b) The then-outstanding principal balance of the Revolving Loan, together with all unpaid fees and expenses relating thereto, shall be due and payable not later than on the Maturity Date (Revolving)Date.

Mandatory Principal Payments. (a) If, at If for any time, reason the Outstanding Balance outstanding principal balance of all Advances plus the sum of the face amounts of all outstanding Letters of Credit shall exceed the Commitment Amount, Borrower Borrowers shall, not later than 30 days after written notice thereof from BOTW: (1) pay the excess to BOTW in a lump sum; or (2) commence (and thereafter continue) an amortization schedule under which Borrower repays Borrowers repay an amount at least equal to the excess in six equal monthly principal installments on the last Business Day of each calendar month, which amounts shall be in addition to the monthly interest payments and any other principal payments otherwise due, such that the entire excess is paid within six months; or (3) execute and deliver to BOTW additional mortgages, supplements to mortgages or other instruments satisfactory in form and substance reasonably satisfactory to BOTW, by which Borrower mortgagesBorrowers mortgage, pledges pledge or hypothecates hypothecate to BOTW, or creates create a security interest in for the benefit of BOTW, sufficient additional Oil and Gas Interests to induce BOTW to make a redetermination of the Borrowing Base such that the Commitment Amount is increased to an amount no less than the Outstanding Balanceoutstanding principal balance of all Advances plus the sum of the face amounts of all outstanding Letters of Credit. (b) The outstanding principal balance of the Revolving Loan, together with all unpaid fees and expenses relating thereto, shall be due and payable not later than the Maturity Date (Revolving)Date.