(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 dos.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 Point 2.12(a) or ( ii) on any date on which an Event of Default has occurred and is continuing shall be applied as set forth in Part dos.12(b).

(ii) And in case Providers wishes you to Loan providers create Finance, Team should submit so you’re able to Using Broker, Administrative Broker each Financial a totally carried out and you may introduced Resource Observe zero afterwards than just Noon (New york day) about two (2) Business days before the advised Credit Day. Per Investment See is brought having a borrowing from the bank Foot Certification reflecting enough Access to the expected Finance and you can a borrowing Feet Statement.

(iii) Per Bank shall make number of the Financing accessible to this new Using Representative maybe not later than simply a.meters. (New york go out) with the relevant Borrowing Big date of the wire import out-of same day finance inside the Cash, and you can upon this new written guidance of one’s Management Broker, the new Paying Agent shall remit such finance to help you Company maybe not afterwards than simply cuatro:00 p.yards. (Nyc go out) by cable import away from same time money for the Cash to your account designated of the Organization regarding the associated Funding Find (that want not an account of one’s Team). If for example the Expenses Representative has never obtained a composed recommendations regarding the newest Administrative Agent of the cuatro:00 p.yards. (New york city day), Spending Representative will cable such as for example money returning to appropriate Lenders.

(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 Area dos.1(c)(ii).

Deemed Wants Finance to spend Expected Repayments

(i) Requests for Improve. 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.

For each and every Lender’s Union should expire toward Commitment Termination Day and you can all Money as well as almost every other wide variety owed hereunder regarding the new Fund in addition to Responsibilities will likely be paid in complete no afterwards versus Maturity Date

(ii) Elections to increase. 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.