Corresponding Payment. Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate Revolving Credit Outstandings, after such reduction to the Revolving Credit Commitment as so reduced and if the Revolving Credit Commitment as so reduced is less than the aggregate amount of all outstanding Letters of Credit, Parent shall be required to deposit Cash Collateral in a Cash Collateral Account opened by the Lender in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitment. Such Cash Collateral shall be applied in accordance with Section 9.1(b). Any reduction of the Revolving Credit Commitment to zero shall be accompanied by payment of all outstanding Loans (and furnishing of Cash Collateral satisfactory to the Lender for all L/C Obligations) and shall result in the termination of the Revolving Credit Commitment and the Revolving Credit Facility. If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 hereof.
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Samples: Credit Agreement (Twin Disc Inc), Credit Agreement (Twin Disc Inc)
Corresponding Payment. Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Revolving Credit OutstandingsLoans, Swingline Loans and L/C Obligations, as applicable, after such reduction to the Revolving Credit Commitment as so reduced reduced, and if the Revolving Credit Commitment as so reduced is less than the aggregate amount of all outstanding Letters of CreditCredit exceeds the Commitment as so reduced, Parent Borrower shall be required to deposit Cash Collateral in a Cash Collateral Account account opened by the Lender Administrative Agent in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitmentexcess. Such Cash Collateral shall be applied in accordance with Section 9.1(b10.2(b). Any reduction of the Revolving Credit Commitment to zero shall be accompanied by payment of all outstanding Revolving Credit Loans and Swingline Loans (and furnishing of Cash Collateral satisfactory to the Lender Administrative Agent for all L/C Obligations) and shall result in the termination of the Revolving Credit Commitment and the Swingline Commitment and the Revolving Credit Facility. If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 5.9 hereof.
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Samples: Credit Agreement (Kforce Inc)
Corresponding Payment. Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Revolving Credit OutstandingsLoans, Swingline Loans and L/C Obligations, as applicable, after such reduction to the Revolving Credit Commitment as so reduced and if the Revolving Credit Commitment as so reduced is less than the aggregate amount of all outstanding Letters of Credit, Parent the Borrower shall be required to deposit Cash Collateral in a Cash Collateral Account opened by Collateralize the Lender in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitmentaggregate L/C Obligations then outstanding. Such Cash Collateral shall be applied in accordance with Section 9.1(b11.2(b). Any reduction of the Revolving Credit Commitment to zero shall be accompanied by payment of all outstanding Revolving Credit Loans and Swingline Loans (and furnishing of Cash Collateral satisfactory to the Lender Administrative Agent for all L/C Obligations) and shall result in the termination of the Revolving Credit Commitment and the Swingline Commitment and the Revolving Credit Facility. If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 hereof4.9.
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Corresponding Payment. Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Revolving Credit OutstandingsLoans, and L/C Obligations, as applicable, after such reduction to the Revolving Credit Commitment as so reduced and if the Revolving Credit Commitment as so reduced is less than the aggregate amount of all outstanding Letters of CreditCredit exceeds the Revolving Credit Commitment as so reduced, Parent the Borrower shall be required to deposit Cash Collateral in a Cash Collateral Account account opened by the Lender Administrative Agent in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitmentexcess. Such Cash Collateral shall be applied in accordance with Section 9.1(b9.2(b). Any reduction of the Revolving Credit Commitment to zero shall be accompanied by payment of all outstanding Revolving Credit Loans (and furnishing of Cash Collateral satisfactory to the Lender Administrative Agent for all L/C Obligations) and shall result in the termination of the Revolving Credit Commitment Commitment, and the Revolving Credit Facility. If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 hereof.
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Corresponding Payment. Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Revolving Credit OutstandingsLoans and L/C Obligations, as applicable, after such reduction to the Revolving Credit Commitment as so reduced and if the Revolving Credit Commitment as so reduced is less than the aggregate amount of all outstanding Letters of CreditCredit exceeds the Revolving Credit Commitment as so reduced, Parent the Borrower shall be required to deposit Cash Collateral in a Cash Collateral Account account opened by the Lender Administrative Agent in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitmentexcess. Such Cash Collateral shall be applied in accordance with Section 9.1(b10.2(b). Any reduction of the Revolving Credit Commitment to zero shall be accompanied by payment of all outstanding Revolving Credit Loans (and furnishing of Cash Collateral satisfactory to the Lender Administrative Agent for all L/C Obligations) and shall result in the termination of the Revolving Credit Commitment and the Revolving Credit Facility. If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 5.9 hereof.
Appears in 1 contract
Samples: Credit Agreement (Wingstop Inc.)
Corresponding Payment. Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Revolving Credit OutstandingsLoans, Swingline Loans and L/C Obligations, as applicable, after such reduction to the Revolving Credit Commitment as so reduced reduced, and if the Revolving Credit Commitment as so reduced is less than the aggregate amount of all outstanding Letters of CreditCredit exceeds the Commitment as so reduced, Parent Borrower shall be required to deposit Cash Collateral in a Cash Collateral Account account opened by the Lender Administrative Agent in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitmentexcess. Such Cash Collateral shall be applied in accordance with Section 9.1(b10.2(b). Any reduction of the Revolving Credit Commitment to zero shall be accompanied by payment of all outstanding Revolving Credit Loans and Swingline Loans (and furnishing of Cash Collateral satisfactory to the Lender Administrative Agent for all L/C Obligations) and shall result in the termination of the Revolving Credit Commitment and the Swingline Commitment and the Revolving Credit Facility. If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate SOFR Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 5.9 hereof.
Appears in 1 contract
Samples: Credit Agreement (Kforce Inc)
Corresponding Payment. Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate Revolving Credit Outstandings, after such reduction to the Revolving Credit Commitment as so reduced and if the Revolving Credit Commitment as so reduced is less than the aggregate amount of all outstanding Letters of Credit, Parent shall be required to deposit Cash Collateral cash collateral in a Cash Collateral Account cash collateral account opened by the Lender in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitment. Such Cash Collateral cash collateral shall be applied in accordance with Section 9.1(b). Any reduction of the Revolving Credit Commitment to zero shall be accompanied by payment of all outstanding Loans (and furnishing of Cash Collateral cash collateral satisfactory to the Lender for all L/C Obligations) and shall result in the termination of the Revolving Credit Commitment and the Revolving Credit Facility. If the reduction of the Revolving Credit Commitment requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 hereof.
Appears in 1 contract
Samples: Credit Agreement (Twin Disc Inc)
Corresponding Payment. Each permanent reduction permitted pursuant to this Section shall be accompanied by a payment of principal sufficient to reduce the aggregate outstanding Revolving Credit OutstandingsLoans and L/C Obligations, as applicable, after such reduction to the Revolving Credit Commitment Commitments as so reduced and if the Revolving Credit Commitment as so reduced is less than the aggregate amount of all outstanding Letters of CreditCredit exceeds the Commitments as so reduced, Parent the Borrower shall be required to deposit Cash Collateral in into a Cash Collateral Account account opened by the Lender Administrative Agent, for the benefit of the Revolving Credit Lenders, in an amount equal to the Dollar Amount of such amount in excess of the Revolving Credit Commitmentexcess. Such Cash Collateral shall be applied in accordance with Section 9.1(b10.2(b). Any reduction of the Revolving Credit Commitment Commitments to zero shall be accompanied by payment of all outstanding Revolving Credit Loans (and furnishing of Cash Collateral satisfactory in an amount equal to the Lender for 103% of all L/C Obligations) and shall result in the termination of the Revolving Credit Commitment Commitments and the Revolving Credit Facility. If the reduction of the Revolving Credit Commitment Commitments requires the repayment of any LIBOR Rate Loan, such repayment shall be accompanied by any amount required to be paid pursuant to Section 4.9 5.9 hereof.
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