Around are going to be zero voluntary prepayments of every Loan produced hereunder

Around are going to be zero voluntary prepayments of every Loan produced hereunder

(i) During the Commitment Period, subject to the terms and conditions hereof, including, without limitation delivery of an updated Borrowing Base Certificate and Borrowing Base Report, each Lender severally agrees to make Loans to Company in an aggregate amount up to but not exceeding such Lender’s Commitment; considering that no Lender shall make any such Loan or portion thereof to the extent that, after giving effect to such Loan:

(b) Amounts borrowed pursuant to Part 2.1(a) may be reborrowed during the Commitment Period, and any repayment of the Loans (i) subject to clause (ii), on any Interest Payment Date shall be applied as set forth in Part dos.12(a) or ( ii) on any date on which an Event of Default has occurred and is continuing shall be applied as set forth in Point 2.12(b).

(ii) And if Providers wants you to definitely Loan providers make Financing, Providers will deliver so you can Expenses Representative, Administrative Broker and every Lender a totally conducted and you can produced Money See no afterwards than Noon (Nyc day) about one or two (2) Working days before the fresh new advised Credit Go out. Per Investment See would be produced that have a borrowing from the bank Ft Certificate reflecting sufficient Accessibility for the asked Fund and a borrowing Foot Statement.

(iii) Per Lender shall make amount of their Loan accessible to the Paying Broker not after than a great.yards. (New york city time) to your relevant Credit Go out by the wire transfer out of same date money during the Bucks, and you can through to the fresh authored guidance of the Management Agent, the brand new Paying Agent shall remit such as for instance fund so you’re able to Company maybe not after than simply 4:00 p.meters. (Nyc day) by wire import from same big date fund within the Dollars into the membership designated from the Organization throughout the related Investment Observe (that require not be an account of the Organization). When your Using Broker has never acquired a written direction of the new Administrative Representative by 4:00 p.m. (New york city go out), Investing Broker often wire such as for instance financing to applicable Loan providers.

(d) . All payments of principal, interest, fees, unpaid Transaction Costs, and other amounts payable to Lenders or parties under this Agreement or any Credit Document may be paid from the proceeds of Loans, made pursuant to a Funding Notice from Company pursuant to Point 2.1(c)(ii).

Deemed Requests Money to blow Required Payments

(i) Wants Raise. So long as (i) no Event of Default or Default has occurred and is continuing, (ii) the Total Utilization of Commitments is at least equal to 50% of the Commitments of all Lenders and (iii) each Lender has been provided with any diligence and cash flow audit information it has requested and had adequate time to review, upon notice to the Administrative Agent and each Lender, Company may from time to time request an increase in the Commitment with respect to any Lender (with the written consent of the Administrative Agent in its sole and absolute discretion) at any time following the Closing Date and prior to the Commitment Termination Date with respect to such Lender.

Per Lender’s Connection shall end towards the Relationship Termination Day and all the Funds as well as other wide variety owed hereunder in terms of the newest Loans in addition to Responsibilities will be paid in complete no after compared to the Maturity Date

(ii) Elections to improve. Each Lender being asked to increase its Commitment shall notify Company whether or not such Person agrees, in its respective sole and absolute discretion, to the increase to such Commitment. Any such Person not responding within 10 Business Days after receipt of such request for an increase shall be deemed to have declined to consent to an increase in such Lender’s Commitment.

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