Common use of ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION Clause in Contracts

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's Revolving Credit Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the Borrowers, that Revolving Credit Lender's Revolving Credit Commitment Percentage of such honoring.

Appears in 2 contracts

Samples: Loan and Security Agreement (Retail Ventures Inc), Loan and Security Agreement (DSW Inc.)

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ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Swing Line Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii12.2(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's Revolving Credit Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the Borrowers, that Revolving Credit Lender's Revolving Credit Commitment Percentage of such honoring.

Appears in 2 contracts

Samples: Loan and Security Agreement (Shopko Stores Inc), Loan and Security Agreement (Shopko Stores Inc)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation:: 104 (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's Revolving Credit Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the Borrowers, that Revolving Credit Lender's Revolving Credit Commitment Percentage of such honoring.

Appears in 2 contracts

Samples: Loan and Security Agreement (DSW Inc.), Loan and Security Agreement (DSW Inc.)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii12.2(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's Revolving Credit Percentage Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the Borrowers, that Revolving Credit Lender's Revolving Credit Percentage Commitment Percentage of such honoring.

Appears in 2 contracts

Samples: Loan and Security Agreement (Jacobson Stores Inc), Loan and Security Agreement (Jacobson Stores Inc)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (ib) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii2.2(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (iic) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's Revolving Credit Percentage Commitment Percentage of the Revolving Credit Loans and advances. (bd) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the BorrowersBorrower, that Revolving Credit Lender's Revolving Credit Percentage Commitment Percentage of such honoring.

Appears in 2 contracts

Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii2.24(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's ’s respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's ’s Revolving Credit Percentage Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contributecontribute (absent any Issuer’s gross negligence or willful misconduct), towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the BorrowersBorrower, that Revolving Credit Lender's ’s Revolving Credit Percentage Commitment Percentage of such honoring.

Appears in 2 contracts

Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii12-2(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's ’s respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's ’s Revolving Credit Percentage Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the BorrowersBorrower, that Revolving Credit Lender's ’s Revolving Credit Percentage Commitment Percentage of such honoring.

Appears in 2 contracts

Samples: Loan and Security Agreement (Hastings Entertainment Inc), Loan and Security Agreement (Hastings Entertainment Inc)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation:: 106 (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's Revolving Credit Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the Borrowers, that Revolving Credit Lender's Revolving Credit Commitment Percentage of such honoring.

Appears in 1 contract

Samples: Loan and Security Agreement (DSW Inc.)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii3.2(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's ’s respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's ’s Revolving Credit Percentage Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contributecontribute (absent any Issuer’s gross negligence or willful misconduct), towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the BorrowersBorrower, that Revolving Credit Lender's ’s Revolving Credit Percentage Commitment Percentage of such honoring.

Appears in 1 contract

Samples: Loan and Security Agreement (Gander Mountain Co)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii14.2(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's ’s respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's ’s Revolving Credit Percentage Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the BorrowersLoan Parties, that Revolving Credit Lender's ’s Revolving Credit Percentage Commitment Percentage of such honoring.

Appears in 1 contract

Samples: Loan and Security Agreement (Casual Male Retail Group Inc)

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ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii12.2(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's Revolving Credit Percentage Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the BorrowersLoan Parties, that Revolving Credit Lender's Revolving Credit Percentage Commitment Percentage of such honoring.

Appears in 1 contract

Samples: Loan and Security Agreement (Odd Job Stores Inc)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii2.24(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's ’s respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's ’s Revolving Credit Percentage Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contributecontribute (absent any Issuer’s gross negligence or willful misconduct), towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the Borrowers, that Revolving Credit Lender's ’s Revolving Credit Percentage Commitment Percentage of such honoring.

Appears in 1 contract

Samples: Loan and Security Agreement (Gander Mountain Co)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii), to a Revolving Credit Tranche A Loan in which all Revolving Credit Tranche A Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's ’s respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's Revolving Credit ’s Applicable Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Tranche A Lender shall contribute, towards any L/C and Banker's ’s Acceptance thereafter honored and not immediately reimbursed by the BorrowersBorrower, that Revolving Credit Tranche A Lender's Revolving Credit ’s Applicable Commitment Percentage of such honoring.

Appears in 1 contract

Samples: Loan and Security Agreement (Retail Ventures Inc)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii12-2(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's Revolving Credit Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the Borrowers, that Revolving Credit Lender's Revolving Credit Commitment Percentage of such honoring.

Appears in 1 contract

Samples: Loan and Security Agreement (Officemax Inc /Oh/)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii12:12-2(b)(ii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's Revolving Credit Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the Borrowers, that Revolving Credit Lender's Revolving Credit Commitment Percentage of such honoring.

Appears in 1 contract

Samples: Loan and Security Agreement (Phar Mor Inc)

ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 13.2(b)(iii12.2(b)(iii), to a Revolving Credit Loan in which all Revolving Credit Lenders participate. (ii) The Administrative Agent and the Revolving Credit Lenders shall "net out" each Revolving Credit Lender's respective contributions towards the Revolving Credit Loans, so that each Revolving Credit Lender holds that Revolving Credit Lender's Revolving Credit Commitment Percentage of the Revolving Credit Loans and advances. (b) Following the initiation of a Liquidation, each Revolving Credit Lender shall contribute, towards any L/C and Banker's Acceptance thereafter honored and not immediately reimbursed by the Borrowers, that Revolving Credit Lender's Revolving Credit Commitment Percentage of such honoring.

Appears in 1 contract

Samples: Loan and Security Agreement (Value City Department Stores Inc /Oh)

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