Common use of Minimum Amounts and Maximum Number of Tranches Clause in Contracts

Minimum Amounts and Maximum Number of Tranches. All borrowings, prepayments, conversions and continuations of Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Loans comprising each LIBOR Tranche or each CD Rate Tranche shall be equal to $10,000,000 or a whole multiple of $1,000,000 in excess thereof. In no event shall there be more than 5 LIBOR Tranches or 5 CD Rate Tranches outstanding at any time.

Appears in 2 contracts

Sources: Credit Agreement (Dominion Resources Inc /Va/), Credit Agreement (Virginia Electric & Power Co)

Minimum Amounts and Maximum Number of Tranches. All borrowings, --------------------------------------------------- prepayments, conversions and continuations of Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount of the Loans comprising each LIBOR Tranche or each CD Rate Tranche shall be equal to $10,000,000 or a whole multiple of $1,000,000 in excess thereof. In no event shall there be more than 5 LIBOR Tranches or 5 CD Rate Tranches outstanding at any time.

Appears in 1 contract

Sources: 364 Day Credit Agreement (Virginia Electric & Power Co)