Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement. (b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 3 contracts
Samples: Revolving Credit and Guaranty Agreement (Burlington Industries Inc /De/), Revolving Credit and Guaranty Agreement (Galey & Lord Inc), Revolving Credit and Guaranty Agreement (Brunos Inc)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Agent shall be credited to that BankLender, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Agent, as such Bank Lender and the Agent shall from time to time agree.
Appears in 2 contracts
Samples: Revolving Credit and Guaranty Agreement (Polymer Group Inc), Revolving Credit and Guaranty Agreement (Guilford Mills Inc)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement or the Notes (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.069.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Fees, Letter of Credit Fees, and second, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid interest and with respect to the principal balance outstanding on each Note and all unreimbursed Letter of Credit drawings and third, in accordance with each Bank's Commitment Percentage to pay the unpaid principal balance outstanding on each Note and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 2 contracts
Samples: Revolving Credit and Guaranty Agreement (Carson Pirie Scott & Co /Il/), Revolving Credit and Guaranty Agreement (Carson Pirie Scott & Co /Il/)
Advances and Payments. (a) On the date of each Loan, the Administrative Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Administrative Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Administrative Agent in immediately available funds for the amount so advanced on its behalf by the Administrative Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Administrative Agent in connection with this Agreement (other than amounts to which the Administrative Agent is entitled pursuant to Sections 2.19, 8.068.6, 10.05 9.5 and 10.069.6), the application of which is not otherwise provided for in this Agreement Agreement, shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Administrative Agent shall be credited to that BankLender, after collection by the Administrative Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Administrative Agent, as such Bank Lender and the Administrative Agent shall from time to time agree.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Interstate Bakeries Corp/De/), Revolving Credit Agreement (Interstate Bakeries Corp/De/)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement or the Notes (other than amounts to which the Agent is entitled pursuant to Sections 2.192.18, 8.068.6, 10.05 10.5 and 10.0610.6), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding on each Note and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 2 contracts
Samples: Revolving Credit and Guaranty Agreement (Flagstar Companies Inc), Revolving Credit and Guaranty Agreement (Marvel Entertainment Group Inc)
Advances and Payments. (a) On the date of each Loan, the Administrative Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Administrative Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Administrative Agent in immediately available funds for the amount so advanced on its behalf by the Administrative Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Administrative Agent in connection with this Agreement (other than amounts to which the Administrative Agent is entitled pursuant to Sections 2.19, 8.068.6, 10.05 9.5 and 10.069.6), the application of which is not otherwise provided for in this Agreement Agreement, shall be applied, applied as follows: first, in accordance with each Bank's Lender’s Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, ; and second, in accordance with each Bank's Lender’s Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Administrative Agent shall be credited to that BankLender, after collection by the Administrative Agent, in immediately available funds either by wire transfer or deposit in that Bank's Lender’s correspondent account with the Administrative Agent, as such Bank Lender and the Administrative Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit Agreement (Interstate Bakeries Corp/De/)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksDIP Lenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks DIP Lenders agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each BankDIP Lender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankDIP Lender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed reimbursed Letter of Credit drawings. All amounts to be paid to a Bank DIP Lender by the Agent shall be credited to that BankDIP Lender, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that BankDIP Lender's correspondent account with the Agent, as such Bank DIP Lender and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Lodgian Inc)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, firstFIRST, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and secondSECOND, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid interest and the outstanding principal balance outstanding of the Loans and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Paragon Trade Brands Inc)
Advances and Payments. (a) On the date of each Loan, the Administrative Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Administrative Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Administrative Agent in immediately available funds for the amount so advanced on its behalf by the Administrative Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Administrative Agent in connection with this Agreement (other than amounts to which the Administrative Agent is entitled pursuant to Sections 2.19, 8.068.6, 10.05 9.5 and 10.069.6), the application of which is not otherwise provided for in this Agreement Agreement, shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Administrative Agent shall be credited to that BankLender, after collection by the 66 Administrative Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Administrative Agent, as such Bank Lender and the Administrative Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit Agreement (Interstate Bakeries Corp/De/)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.192.17, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Agent shall be credited to that BankLender, after collection by the Agent, in immediately available funds either xxxxxr by wire transfer or deposit in that BankLender's correspondent account with the Agent, as such Bank Lender and the Agent Xxxxx shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Act Manufacturing Inc)
Advances and Payments. (a) On the date of each Loan, the Administrative Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Administrative Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Administrative Agent in immediately available funds for the amount so advanced on its behalf by the Administrative Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Administrative Agent in connection with this Agreement (other than amounts to which the Administrative Agent is entitled pursuant to Sections 2.19, 8.068.6, 10.05 10.5 and 10.0610.6), the application of ------------------------ ---- which is not otherwise provided for in this Agreement Agreement, shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Administrative Agent shall be credited to that BankLender, after collection by the Administrative Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Administrative Agent, as such Bank Lender and the Administrative Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Guaranty Agreement (Federal Mogul Corp)
Advances and Payments. (a) On the date of each Loan, the Administrative Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Administrative Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Administrative Agent in immediately available funds for the amount so advanced on its behalf by the Administrative Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Administrative Agent in connection with this Agreement (other than amounts to which the Administrative Agent is entitled pursuant to Sections 2.19, 8.068.6, 10.05 10.5 and 10.0610.6), the application of which is not otherwise provided for in this Agreement Agreement, shall be applied, first, in accordance with each Bank's Lender’s Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's Lender’s Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Administrative Agent shall be credited to that BankLender, after collection by the Administrative Agent, in immediately available funds either by wire transfer or deposit in that Bank's Lender’s correspondent account with the Administrative Agent, as such Bank Lender and the Administrative Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Guaranty Agreement (Federal Mogul Corp)
Advances and Payments. (a1) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b2) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Genesis Health Ventures Inc /Pa)
Advances and Payments. (a) On the date of each LoanLoan to be made in accordance with the terms hereof, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Tranche A Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's ’s Total Commitment Percentage to pay accrued but unpaid expenses, Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's ’s Total Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawingsdrawings and to cash collateralization of Letters of Credit. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's ’s correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Kmart Corp)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement or the Notes (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.069.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid interest and with respect to the principal balance outstanding on each Note and all unreimbursed Letter of Credit drawingsthird, in accordance with each Bank's Commitment Percentage to pay the unpaid principal balance outstanding on each Note. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Carson Pirie Scott & Co /Il/)
Advances and Payments. (a) On the date of each Loan, the Administrative Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Administrative Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Administrative Agent in immediately available funds for the amount so advanced on its behalf by the Administrative Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Administrative Agent in connection with this Agreement (other than amounts to which the Administrative Agent is entitled pursuant to Sections 2.19, 8.068.6, 10.05 10.5 and 10.0610.6), the application of ------------- --- ---- ---- which is not otherwise provided for in this Agreement Agreement, shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Administrative Agent shall be credited to that BankLender, after collection by the Administrative Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Administrative Agent, as such Bank Lender and the Administrative Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Bethlehem Steel Corp /De/)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid expenses Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawingsdrawings and Cash Collateralization of Letters of Credit. All amounts to be paid to a Bank Lender by the Agent shall be credited to that BankLender, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Agent, as such Bank Lender and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (McLeodusa Inc)
Advances and Payments. (a) On the date of each LoanLoan to be made in accordance with the terms hereof, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid expenses, Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawingsdrawings and to cash collateralization of Letters of Credit. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Kmart Corp)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement or the Notes (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.068.6, 10.05 10.5 and 10.0610.6), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding on each Note and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Alliance Entertainment Corp)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance -50- with each Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Agent shall be credited to that BankLender, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Agent, as such Bank Lender and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Thermadyne Holdings Corp /De)
Advances and Payments. (a1) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the ofthe Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b2) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Brunos Inc)
Advances and Payments. (a) On the date of each Loan, the Administrative Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Administrative Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Administrative Agent in immediately available funds for the amount so advanced on its behalf by the Administrative Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Administrative Agent in connection with this Agreement (other than amounts to which the Administrative Agent is entitled pursuant to Sections 2.19, 8.068.6, 10.05 10.5 and 10.0610.6), the application of which is not otherwise ------------- --- ---- ---- provided for in this Agreement Agreement, shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Administrative Agent shall be credited to that BankLender, after collection by the Administrative Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Administrative Agent, as such Bank Lender and the Administrative Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Bethlehem Steel Corp /De/)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 11.05 and 10.0611.06), the application of which is not otherwise provided for in this Agreement (including pursuant to Section 10.03) shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Agent shall be credited to that BankLender, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Agent, as such Bank Lender and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit, Guaranty and Security Agreement (Acterna Corp)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.068.6, 10.05 10.5 and 10.0610.6), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Agent shall be credited to that BankLender, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Agent, as such Bank Lender and the Agent shall from time to time agree.
Appears in 1 contract
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.192.15, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Family Golf Centers Inc)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each Tranche A Bank's Tranche A Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Tranche A Letter of Credit drawings, and third, in accordance with each Tranche B Bank's Tranche B Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Tranche B Letter of Credit drawings. All amounts to be paid to a Bank by the Agent shall be promptly credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Kasper a S L LTD)
Advances and Payments. (a1) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the Banks, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b2) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.192.16, 8.06, 10.05 and 10.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each ----- Bank's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's Commitment Percentage ------ to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank by the Agent shall be credited to that Bank, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's correspondent account with the Agent, as such Bank and the Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Mariner Post Acute Network Inc)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.06, 10.05 11.05 and 10.0611.06), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each Bank's Lender’s Commitment Percentage to pay accrued but unpaid expenses Commitment Fees or Letter of Credit Fees, and second, in accordance with each Bank's Lender’s Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawingsdrawings and Cash Collateralization of Letters of Credit. All amounts to be paid to a Bank Lender by the Agent shall be credited to that BankLender, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that Bank's Lender’s correspondent account with the Agent, as such Bank Lender and the Agent shall from time to time agree.
Appears in 1 contract
Advances and Payments. (a) On the date of each Loan, the Administrative Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Administrative Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Administrative Agent in immediately available funds for the amount so advanced on its behalf by the Administrative Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Administrative Agent in connection with this Agreement (other than amounts to which the Administrative Agent is entitled pursuant to Sections 2.192.18, 8.068.6, 10.05 10.5 and 10.0610.6), the application of which is not otherwise provided for in this Agreement or any other Loan Document, shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance of the Loans outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Administrative Agent shall be credited to that BankLender, after collection by the Administrative Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Administrative Agent, as such Bank Lender and the Administrative Agent shall from time to time agree.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Hayes Lemmerz International Inc)
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement (other than amounts to which the Agent is entitled pursuant to Sections 2.19, 8.068.6, 10.05 9.5 and 10.069.6), the application of which is not otherwise provided for in this Agreement Agreement, shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Agent shall be credited to that BankLender, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Agent, as such Bank Lender and the Agent shall from time to time agree.
Appears in 1 contract
Advances and Payments. (a) On the date of each Loan, the Administrative Agent shall be authorized (but not obligated) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Administrative Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Administrative Agent in immediately available funds for the amount so advanced on its behalf by the Administrative Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Administrative Agent in connection with this Agreement (other than amounts to which the Administrative Agent is entitled pursuant to Sections 2.19, 8.068.6, 10.05 10.5 and 10.0610.6), the application of which is not otherwise provided for in this Agreement Agreement, shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest and the principal balance outstanding and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Administrative Agent shall be credited to that BankLender, after collection by the Administrative Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Administrative Agent, as such Bank Lender and the Administrative Agent shall from time to time agree.
Appears in 1 contract
Advances and Payments. (a) On the date of each Loan, the Agent shall be authorized (but not obligated, except pursuant to Section 2.2(g)) to advance, for the account of each of the BanksLenders, the amount of the Loan to be made by it in accordance with its Commitment hereunder. Should the Agent do so, each of the Banks Lenders agrees forthwith to reimburse the Agent in immediately available funds for the amount so advanced on its behalf by the Agent, together with interest at the Federal Funds Effective Rate if not so reimbursed on the date due from and including such date but not including the date of reimbursement.
(b) Any amounts received by the Agent in connection with this Agreement or the Notes (other than amounts to which the Agent is entitled pursuant to Sections 2.192.18, 8.068.6, 10.05 9.5 and 10.069.6), the application of which is not otherwise provided for in this Agreement shall be applied, first, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid Commitment Fees or Letter of Credit Fees, and second, in accordance with each BankLender's Commitment Percentage to pay accrued but unpaid interest on, and the principal balance outstanding of, each Note and all unreimbursed Letter of Credit drawings. All amounts to be paid to a Bank Lender by the Agent shall be credited to that BankLender, after collection by the Agent, in immediately available funds either by wire transfer or deposit in that BankLender's correspondent account with the Agent, as such Bank Lender and the Agent shall from time to time agree.
Appears in 1 contract