Common use of Adjustment of Outstanding Loans Clause in Contracts

Adjustment of Outstanding Loans. If any Loans are outstanding under the Original Loan Agreement on the date hereof, the Banks shall on the date hereof, at the direction of the Agent, make appropriate adjustments among themselves in order to insure that the amount (and type) of the Loans outstanding to the Borrower from each Bank under the Loan Agreement (as of the date hereof) are proportionate to the aggregate amount of all of the Total Commitments, after giving effect to the additional Total Commitment of the New Bank, the increased amount of the aggregate Total Commitments and the reallocation of the amounts of the Total Commitment of certain of the Banks. The Borrower agrees and consents to the terms of this Section 1.3.

Appears in 1 contract

Samples: Loan Agreement (National Consumer Cooperative Bank /Dc/)

AutoNDA by SimpleDocs

Adjustment of Outstanding Loans. If any Loans are outstanding under the Original Loan Agreement on the date hereof, the Banks shall on the date hereof, at the direction of the Agent, make appropriate adjustments among themselves in order to insure that the amount (and type) of the Loans outstanding to the Borrower from each Bank under the Loan Agreement (as of the date hereof) are proportionate to the aggregate amount of all of the Total Commitments, after giving effect to the additional Total Commitment of the New BankBanks, the increased amount of the aggregate Total Commitments and the reallocation of the amounts of the Total Commitment of certain of the Banks. The Borrower agrees and consents to the terms of this Section 1.31.4.

Appears in 1 contract

Samples: Loan Agreement (National Consumer Cooperative Bank /Dc/)

Adjustment of Outstanding Loans. If any Loans are outstanding under the Original Loan Agreement on the date hereof, the Banks shall on the date hereof, at the direction of the Agent, make appropriate adjustments among themselves in order to insure that the amount (and type) of the Loans outstanding to the Borrower from each Bank under the Loan Agreement (as of the date hereof) are proportionate to the aggregate amount of all of the Total Commitments, after giving effect to the additional Total Commitment of the New Bank, the increased amount of the aggregate Total Commitments Banks and the reallocation change of the amounts of the Total Commitment of certain of the Banks. The Borrower agrees and consents to the terms of this Section 1.31.2.

Appears in 1 contract

Samples: Loan Agreement (National Consumer Cooperative Bank /Dc/)

AutoNDA by SimpleDocs

Adjustment of Outstanding Loans. If any Loans are outstanding under the Original Loan Agreement on the date hereof, the Banks shall on the date hereof, at the direction of the Agent, make appropriate adjustments among themselves in order to insure that the amount (and type) of the Loans outstanding to the Borrower from each Bank under the Loan Agreement (as of the date hereof) are proportionate to the aggregate amount of all of the Total Commitments, after giving effect to the additional Total Commitment of the New Bank, the increased amount of the aggregate Total Commitments and the reallocation of the amounts of the Total Commitment of certain of the Banks. The Borrower agrees and consents to the terms of this Section 1.31.4.

Appears in 1 contract

Samples: Loan Agreement (National Consumer Cooperative Bank /Dc/)

Time is Money Join Law Insider Premium to draft better contracts faster.