Adjustment for Ancillary Facilities upon acceleration Sample Clauses
Adjustment for Ancillary Facilities upon acceleration. (i) Prior to the application of the provisions of clause (ii) below, an Ancillary Lender that has provided a Multi-account Overdraft shall set-off any Available Credit Balance on any account comprised in that Multi-account Overdraft.
(ii) If the Administrative Agent takes any action under Section 11.02 or any Event of Default described in Section 11.01(a) or 11.01(e) occurs, each Revolving Lender (including each Ancillary Lender) shall promptly adjust (by making or receiving (as the case may be) corresponding transfers of rights and obligations under the Credit Documents relating to their Revolving Exposure and Ancillary Outstandings, in each case, in respect of any applicable Tranche of Revolving Commitments) their claims in respect of amounts outstanding to them under any applicable Tranche of Revolving Commitments and each Ancillary Facility in respect of such Tranche of Revolving Commitments to the extent necessary to ensure that after such transfers, the claims relating to the Revolving Exposure and Ancillary Outstandings of each Revolving Lender in each case, in respect of any Tranche of Revolving Commitments bear the same proportion to the claims relating to the Revolving Exposure and Ancillary Outstandings of all Revolving Lenders under that Tranche of Revolving Commitments as such Revolving Lender’s pro rata share of the total Revolving Commitments for all Lenders under such Tranche, each as at the date on which the Administrative Agent takes any action under Section 11.02 or any Event of Default described in Section 11.01(a) or 11.01(e) occurs or upon any automatic acceleration as provided for in the last paragraph of Section 11.01(a).
(iii) If an amount outstanding under an Ancillary Facility is a contingent liability and that contingent liability becomes an actual liability or is reduced to zero after the original adjustment is made under paragraph (ii) above, then each Revolving Lender (including each Ancillary Lender) will make a further adjustment (by making or receiving (as the case may be) corresponding transfers of rights and obligations under the Credit Documents relating to their Revolving Exposure and Ancillary Outstandings under any applicable Tranche of Revolving Commitments to the extent necessary) to put themselves in the position they would have been in had the original adjustment been determined by reference to the actual liability or, as the case may be, zero liability and not the contingent liability.
(iv) Any transfer of right...
Adjustment for Ancillary Facilities upon acceleration. (a) In this Clause 6.6:
Adjustment for Ancillary Facilities upon acceleration. In this Section 2.58:
Adjustment for Ancillary Facilities upon acceleration. If an Ancillary Facility Lender has the benefit of any security interest securing any of its Ancillary Facilities, the realisations from such security when enforced will be treated as an amount recovered by such Ancillary Facility Lender in its capacity as a Lender which is subject to the sharing arrangements in Clause 30 (Sharing among the Finance Parties) to the intent that such realisation should benefit all Lenders pro rata.
Adjustment for Ancillary Facilities upon acceleration. (a) If a default occurs under any Ancillary Facility, no Ancillary Facility Lender may demand repayment of any monies or demand cash cover for any Ancillary Facility Outstandings, or take any analogous action in respect of any Ancillary Facility, until the Acceleration Date.
(b) If an Acceleration Date occurs, the claims of each Lender with a Revolving Facility Commitment under the applicable Revolving Facility and each Ancillary Facility Lender in respect of amounts outstanding to them under the applicable Revolving Facility and Ancillary Facilities respectively shall be adjusted in accordance with this Clause 6.4 (