Common use of Agent's Discretion to Allocate Clause in Contracts

Agent's Discretion to Allocate. 2.19 Notwithstanding the provisions of Section 2.14 with respect to the funding of Advances in accordance with each Lender's Pro Rata Share, the Agent shall be entitled to reallocate the funding obligations under the Facility among the Lenders in order to ensure, to the greatest extent practicable, that after such funding the aggregate amount of credit extended hereunder by each Lender coincides with such Lender's Pro Rata Share of the aggregate amount of credit extended under the Facility by all of the Lenders thereunder, provided that no such allocation shall result in the aggregate amount of credit extended hereunder by any Lender exceeding such Lender's Individual Commitment in respect of the Facility.

Appears in 3 contracts

Samples: Credit Agreement (Uranium Energy Corp), Credit Agreement (Uranium Energy Corp), Credit Agreement (Uranium Energy Corp)

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Agent's Discretion to Allocate. 2.19 Notwithstanding the provisions of Section 2.14 with respect to the funding of Advances the Advance in accordance with each Lender's Pro Rata Share, the Agent shall be entitled to reallocate the funding obligations under the Facility among the Lenders in order to ensure, to the greatest extent practicable, that after such funding the aggregate amount of credit extended hereunder by each Lender coincides with such Lender's Pro Rata Share of the aggregate amount of credit extended under the Facility by all of the Lenders thereunder, provided that no such allocation shall result in the aggregate amount of credit extended hereunder by any Lender exceeding such Lender's Individual Commitment in respect of the Facility.

Appears in 1 contract

Samples: Credit Agreement (Platinum Group Metals LTD)

Agent's Discretion to Allocate. 2.19 Notwithstanding the provisions of Section 2.14 with respect to the funding of Advances the Advance in accordance with each Lender's ’s Pro Rata Share, the Agent shall be entitled to reallocate the funding obligations under the Facility among the Lenders in order to ensure, to the greatest extent practicable, that after such funding the aggregate amount of credit extended hereunder by each Lender coincides with such Lender's ’s Pro Rata Share of the aggregate amount of credit extended under the Facility by all of the Lenders thereunder, provided that no such allocation shall result in the aggregate amount of credit extended hereunder by any Lender exceeding such Lender's ’s Individual Commitment in respect of the Facility.

Appears in 1 contract

Samples: Credit Agreement (Platinum Group Metals LTD)

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Agent's Discretion to Allocate. 2.19 Notwithstanding the provisions of Section 2.14 Sections 3.2, 3.4(a) and 9.6(b) with respect to the funding of Advances Loans and Bankers’ Acceptances and reimbursing with respect to Letters of Credit in accordance with each relevant Lender's ’s Pro Rata Share, the Agent shall be entitled to reallocate the funding or reimbursement obligations under the Facility among the relevant Lenders in order to ensure, to the greatest extent practicable, that after such funding the aggregate amount of credit extended hereunder by each Lender coincides with such Lender's ’s Pro Rata Share of the aggregate amount of credit extended under the a particular Credit Facility by all of the Lenders thereunderrelevant Lenders, provided that no such allocation shall result in the aggregate amount of credit extended hereunder by any Lender exceeding such Lender's ’s Individual Commitment in respect of the under such Credit Facility.

Appears in 1 contract

Samples: Credit Agreement (Vitran Corp Inc)

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