NOTICE SHALL HAVE
BEEN WITHDRAWN OR SUCH PROVISION
AMENDED IN ACCORDANCE HEREWITH.
SECTION 1.05.
OIL AND GAS DEFINITIONS.
FOR PURPOSES
OF THIS AGREEMENT, THE TERMS "PROVED OR PROVEN RESERVES," "PROVED DEVELOPED
RESERVES," "PROVED OR PROVEN UNDEVELOPED RESERVES," "PROVED OR PROVEN DEVELOPED
NONPRODUCING RESERVES" AND "PROVED OR PROVEN DEVELOPED PRODUCING RESERVES," HAVE
THE MEANING GIVEN SUCH TERMS FROM TIME TO TIME AND AT THE TIME IN QUESTION BY
THE SOCIETY OF PETROLEUM ENGINEERS OF THE AMERICAN INSTITUTE OF MINING
ENGINEERS.
SECTION 1.06.
TIME OF DAY.
UNLESS OTHERWISE
SPECIFIED, ALL REFERENCES TO TIMES OF DAY SHALL BE REFERENCES TO CENTRAL TIME
(DAYLIGHT OR STANDARD, AS APPLICABLE).
ARTICLE II
THE CREDITS
SECTION 2.01.
COMMITMENTS.
SUBJECT TO THE TERMS AND
CONDITIONS SET FORTH HEREIN, EACH LENDER AGREES TO MAKE A LOAN TO THE BORROWER
ON THE EFFECTIVE DATE IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED THE AMOUNT
OF THE COMMITMENT OF SUCH LENDER.
THE LOANS MAY FROM TIME TO TIME BE EURODOLLAR
LOANS OR ABR LOANS, AS DETERMINED BY THE BORROWER AND NOTIFIED TO THE
ADMINISTRATIVE AGENT IN ACCORDANCE WITH SECTIONS 2.04 AND 2.07.
AMOUNTS OF
LOANS REPAID OR PREPAID MAY NOT BE REBORROWED.
19
SECTION 2.02.
REPAYMENT OF LOANS.
THE BORROWER
SHALL REPAY THE AGGREGATE OUTSTANDING PRINCIPAL BALANCE OF THE LOANS ON THE
MATURITY DATE.
SECTION 2.03.
[RESERVED].
SECTION 2.04.
REQUESTS FOR BORROWINGS.
TO REQUEST
THAT THE LENDERS MAKE LOANS ON THE EFFECTIVE DATE, THE BORROWER SHALL NOTIFY THE
ADMINISTRATIVE AGENT OF SUCH REQUEST BY TELEPHONE (A) IN THE CASE OF A
EURODOLLAR BORROWING, NOT LATER THAN 11:00 A.M., THREE (3) BUSINESS DAYS BEFORE
THE DATE OF THE PROPOSED EURODOLLAR BORROWING OR (B) IN THE CASE OF AN ABR
BORROWING, NOT LATER THAN 11:00 A.M., ONE (1) BUSINESS DAY BEFORE THE DATE OF
THE PROPOSED ABR BORROWING.
EACH SUCH TELEPHONIC BORROWING REQUEST SHALL BE
IRREVOCABLE AND SHALL BE CONFIRMED PROMPTLY BY HAND DELIVERY OR TELECOPY TO THE
ADMINISTRATIVE AGENT OF A WRITTEN BORROWING REQUEST IN A FORM APPROVED BY THE
ADMINISTRATIVE AGENT AND SIGNED BY THE BORROWER.
EACH SUCH TELEPHONIC AND
WRITTEN BORROWING REQUEST SHALL SPECIFY THE FOLLOWING INFORMATION:
(I)
THE AGGREGATE AMOUNT OF THE REQUESTED BORROWING;
(II)
THE DATE OF SUCH BORROWING, WHICH SHALL BE A
BUSINESS DAY;
(III)
WHETHER SUCH BORROWING IS TO BE AN ABR BORROWING OR A
EURODOLLAR BORROWING;
(IV)
IN THE CASE OF A EURODOLLAR BORROWING, THE INITIAL
INTEREST PERIOD TO BE APPLICABLE THERETO, WHICH SHALL BE A PERIOD CONTEMPLATED
BY THE DEFINITION OF THE TERM "INTEREST PERIOD"; AND
(V)
THE LOCATION AND NUMBER OF THE BORROWER'S ACCOUNT TO
WHICH FUNDS ARE TO BE DISBURSED, WHICH SHALL COMPLY WITH THE REQUIREMENTS OF
SECTION 2.06.
If no election as to the Type of Borrowing is specified, then the requested
Borrowing shall be an ABR Borrowing.
If no Interest Period is specified with
respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed
to have selected an Interest Period of one (1) month's duration.
Promptly
following receipt of the Borrowing Request in accordance with this Section,