Common use of Tranche B Clause in Contracts

Tranche B. The Borrower shall repay to the Administrative Agent for the ratable benefit of the Lenders the outstanding principal amount of all Tranche B Advances, together with any accrued interest thereon, as follows: (i) if the Borrowing Base is increased due to a redetermination made under Section 2.02, on the Tranche B Initial Payment Date with the proceeds of a Tranche A Borrowing, in an amount equal to such increase; (ii) on September 2, 2004, in an amount equal to one-half of the principal amount of all Tranche B Advances which were outstanding on the Tranche B Initial Payment Date after giving effect to any payment made by the Borrower on such date as required under clause (i) above; and (iii) on the Tranche B Maturity Date or such earlier date pursuant to Section 7.02 or Section 7.03, the outstanding principal amount of the Tranche B Advances. Each such payment shall be made together with all accrued, unpaid interest on the Tranche B Advances through the payment date.