Common use of Adjustments to Revolving Outstandings Clause in Contracts

Adjustments to Revolving Outstandings. Upon the Incremental Effective Date for each Incremental Commitment, (i) if there are Revolving Loans then outstanding, the Borrower shall prepay such Revolving Loans (and pay any additional amounts required pursuant to Section 3.4 in connection therewith), and borrow Revolving Loans from the Incremental Lender(s), so that, after giving effect to such prepayments and borrowings, all Revolving Loans will be held ratably by the Revolving Lenders (including the Incremental Lender(s)) in accordance with their respective Commitments after giving effect to the applicable Incremental Commitment(s) and (ii) if there are Swingline Loans or Letters of Credit then outstanding, the participations of the Revolving Lenders in such Swingline Loans or Letters of Credit, as the case may be, will be automatically adjusted to reflect the Applicable Percentages of all the Revolving Lenders (including each Lender providing such Incremental Commitment) after giving effect to the applicable Incremental Commitment(s).

Appears in 2 contracts

Samples: Credit Agreement (Otter Tail Corp), Credit Agreement (Otter Tail Corp)

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Adjustments to Revolving Outstandings. Upon the Incremental Effective Date for On each Incremental CommitmentCommitment Effective Date, (i) if there are Revolving Loans then outstanding, the Borrower shall prepay such Revolving Loans then outstanding will be automatically adjusted to reflect the Applicable Percentages of all the Lenders (and pay any additional amounts required pursuant including each Incremental Lender) after giving effect to Section 3.4 in connection therewiththe applicable Incremental Commitment(s), and borrow Revolving Loans from the Incremental Lender(s), so as shall be necessary in order that, after giving effect to such prepayments and borrowings, all Revolving Loans will be held ratably by the Revolving Lenders (including the Incremental Lender(s)) in accordance with their respective Commitments after giving effect to the applicable Incremental Commitment(s) and (ii) if there are Swingline Loans or Letters of Credit then outstanding, the participations of the Revolving Lenders in such Swingline Loans or Letters of Credit, as the case may be, will be automatically adjusted to reflect the Applicable Percentages of all the Revolving Lenders (including each Lender providing such Incremental CommitmentLender) after giving effect to the applicable Incremental Commitment(s).

Appears in 2 contracts

Samples: Credit Agreement (SWK Holdings Corp), Credit Agreement (SWK Holdings Corp)

Adjustments to Revolving Outstandings. Upon the Incremental Effective Date for each Incremental Commitment, (i) if there are Revolving Loans then outstanding, the Borrower shall prepay such Revolving Loans (and pay any additional amounts required pursuant to Section 3.4 in connection therewith), and borrow Revolving Loans from the Incremental Lender(s), so that, after giving effect to such prepayments and borrowings, all Revolving Loans will be held ratably by the Revolving Lenders (including the Incremental Lender(s)) in accordance with their respective Commitments after giving effect to the applicable Incremental Commitment(s) and (ii) if there are Swingline Loans or Letters of Credit then outstanding, the participations of the Revolving Lenders in such Swingline Loans or Letters of Credit, as the case may be, Credit will be automatically adjusted to reflect the Applicable Percentages of all the Revolving Lenders (including each Lender providing such Incremental Commitment) after giving effect to the applicable Incremental Commitment(s).

Appears in 1 contract

Samples: Credit Agreement (Century Communities, Inc.)

Adjustments to Revolving Outstandings. Upon the Incremental On each Increase Effective Date for with respect to each Incremental CommitmentRevolving Commitment Increase, (i) if there are Revolving Credit Loans then outstanding, the Borrower shall prepay such Revolving Credit Loans (and pay any additional amounts required pursuant to Section 3.4 3.5 in connection therewith), and borrow Revolving Credit Loans from the Incremental Lender(s)Lenders, so as shall be necessary in order that, after giving effect to such prepayments and borrowings, all Revolving Credit Loans will be held ratably by the Revolving Credit Lenders (including the Incremental Lender(s)) in accordance with their respective Revolving Credit Commitments after giving effect to the applicable Incremental Commitment(s) Revolving Commitment Increase and (ii) if there are Swingline Swing Line Loans or Letters of Credit then outstanding, the participations of the Revolving Credit Lenders in such Swingline Swing Line Loans or Letters of Credit, as the case may be, will be automatically adjusted to reflect the Applicable Percentages of all the Revolving Credit Lenders (including each Lender providing such Incremental CommitmentLender) after giving effect to the applicable Incremental Commitment(s)Revolving Commitment Increase.

Appears in 1 contract

Samples: Credit Agreement (Bgsf, Inc.)

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Adjustments to Revolving Outstandings. Upon the Incremental Effective Date for each Incremental Commitment, (i) if there are Revolving Loans then outstanding, the Borrower Borrowers shall prepay such Revolving Loans (and pay any additional amounts required pursuant to Section 3.4 in connection therewith), and borrow Revolving Loans from the Incremental Lender(s), so that, after giving effect to such prepayments and borrowings, all Revolving Loans will be held ratably by the Revolving Lenders (including the Incremental Lender(s)) in accordance with their respective Revolving Commitments after giving effect to the applicable Incremental Commitment(s) and (ii) if there are Swingline Loans or Letters of Credit then outstanding, the participations of the Revolving Lenders in such Swingline Loans or Letters of Credit, as the case may be, will be automatically adjusted to reflect the Applicable Percentages of all the Revolving Lenders (including each Lender providing such Incremental Commitment) after giving effect to the applicable Incremental Commitment(s).

Appears in 1 contract

Samples: Credit Agreement (Globus Medical Inc)

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