Common use of Commitment Adjustments Clause in Contracts

Commitment Adjustments. Each of the parties hereto agrees that the Administrative Agent may, in consultation with Company, take any and all actions as may be reasonably necessary to ensure that after giving effect to any increase in the Commitments pursuant to this Section, the outstanding Loans (if any) are held by the Lenders with Commitments in accordance with their new Applicable Percentages as shown on an updated Schedule 2.01 which will be attached to this Agreement. This may be accomplished at the discretion of the Administrative Agent, as applicable: (i) by requiring the outstanding Loans to be prepaid with the proceeds of the new Loans; (ii) by causing the Non Increasing Lenders to assign portions of their outstanding Loans to Increasing Lenders and Augmenting Lenders; (iii) by permitting the Loans outstanding at the time of any increase in the Commitment pursuant to this Section 2.05 to remain outstanding until the last days of the respective Interest Periods, therefor, even though the Lenders would hold such Loans other than in accordance with their new Applicable Percentages; or (iv) by any combination of the foregoing.

Appears in 3 contracts

Samples: Credit Agreement (Allient Inc), Credit Agreement (Allied Motion Technologies Inc), Credit Agreement (Allied Motion Technologies Inc)

AutoNDA by SimpleDocs

Commitment Adjustments. Each of the parties hereto agrees that the Administrative Agent may, in consultation with Company, take any and all actions as may be reasonably necessary to ensure that after giving effect to any increase in the Commitments pursuant to this Section, the outstanding Revolving Loans (if any) are held by the Lenders with Commitments in accordance with their new Applicable Percentages as shown on an updated Schedule 2.01 2.1 which will be attached to this Agreement. This may be accomplished at the discretion of the Administrative Agent, as applicable: (i) by requiring the outstanding Revolving Loans to be prepaid with the proceeds of the new Revolving Loans; (ii) by causing the Non Increasing Lenders to assign portions of their outstanding Revolving Loans to Increasing Lenders and Augmenting Lenders; (iii) by permitting the Revolving Loans outstanding at the time of any increase in the Commitment pursuant to this Section 2.05 2.21 to remain outstanding until the last days of the respective Interest Periods, therefor, even though the Lenders would hold such Revolving Loans other than in accordance with their new Applicable Percentages; or (iv) by any combination of the foregoing.

Appears in 2 contracts

Samples: Loan Agreement (Moog Inc.), Fourth Amended And (Moog Inc)

Commitment Adjustments. Each of the parties hereto agrees that the Administrative Agent may, in consultation with CompanyBorrower, take any and all actions as may be reasonably necessary to ensure that after giving effect to any increase in the Commitments pursuant to this Section, the outstanding Revolving Loans (if any) are held by the Lenders with Commitments in accordance with their new Applicable Percentages as shown on an updated Schedule 2.01 2.1 which will be attached to this Agreement. This may be accomplished at the discretion of the Administrative Agent, as applicable: (i) by requiring the outstanding Revolving Loans to be prepaid with the proceeds of the new Revolving Loans; (ii) by causing the Non Increasing Lenders to assign portions of their outstanding Revolving Loans to Increasing Lenders and Augmenting Lenders; (iii) by permitting the Revolving Loans outstanding at the time of any increase in the Commitment pursuant to this Section 2.05 2.21 to remain outstanding until the last days of the respective Interest Periods, therefor, even though the Lenders would hold such Revolving Loans other than in accordance with their new Applicable Percentages; or (iv) by any combination of the foregoing.

Appears in 1 contract

Samples: Loan Agreement (Moog Inc)

AutoNDA by SimpleDocs

Commitment Adjustments. Each of the parties hereto agrees that the Administrative Agent may, in consultation with CompanyBorrower, take any and all actions as may be reasonably necessary to ensure that after giving effect to any increase in the Commitments Commitment pursuant to this Section, the outstanding Loans (if any) are held by the Lenders with Commitments in accordance with their new Applicable Percentages as shown on an updated Schedule 2.01 which will be attached to this AgreementCommitment Percentages. This may be accomplished at the discretion of the Administrative Agent, as applicable: (i) by requiring the outstanding Loans to be prepaid with the proceeds of the new Loans; (ii) by causing the Non Non-Increasing Lenders to assign portions of their outstanding Loans to Increasing Lenders and Augmenting Lenders; (iii) by permitting the Loans outstanding at the time of any increase in the Commitment pursuant to this Section 2.05 2.23 to remain outstanding until the last days of the respective Interest Periods, therefor, even though the Lenders would hold such Loans other than in accordance with their new Applicable Commitment Percentages; or (iv) by any combination of the foregoing.

Appears in 1 contract

Samples: Credit Agreement (Astronics Corp)

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