Common use of Effective Date Advances and Adjustments Clause in Contracts

Effective Date Advances and Adjustments. On the Effective Date, the aggregate amount of the revolving commitments under the Existing Credit Agreement is changed hereunder but not all Lenders are participating in the Revolving Commitments based on their pro rata percentages established under the Existing Credit Agreement. As a result, the revolving loans outstanding under the Existing Credit Agreement which are continued hereunder will not be held pro rata by the Lenders in accordance with their Revolving Credit Percentages determined hereunder. To remedy the foregoing, on the Effective Date and upon fulfillment of the conditions in Section 4.01, the Lenders shall make advances among themselves (which may be through the Administrative Agent) so that after giving effect thereto the Revolving Loans will be held by the Lenders, pro rata in accordance with their respective Revolving Credit Percentages hereunder. The advances made on the Effective Date under this Section 4.03 by each Lender whose Revolving Credit Percentage is new or has increased under this Agreement (as compared to its revolving credit percentage under the Existing Credit Agreement) shall be deemed to be a purchase of a corresponding amount of the Revolving Loans of the Lender or Lenders whose Revolving Credit Percentage has decreased (as compared to its revolving credit percentage under the Existing Credit Agreement). The advances made under this Section 4.03 shall be ABR Borrowings made under each Lender's Revolving Commitment unless another Type of Borrowing is selected by the Borrower to be applicable thereto.

Appears in 2 contracts

Samples: Credit Agreement (Trinity Industries Inc), Credit Agreement (Trinity Industries Inc)

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Effective Date Advances and Adjustments. On the Effective Date, the aggregate amount of the revolving commitments under the Existing Prior Credit Agreement is changed being increased hereunder but not all Lenders are participating in the increase in the Revolving Commitments based on their pro rata percentages established under the Existing Prior Credit Agreement. As a result, the revolving any loans outstanding under the Existing Prior Credit Agreement which are continued hereunder will not be held pro rata by the Revolving Lenders in accordance with their Revolving Credit Applicable Percentages determined hereunder. To remedy the foregoing, on the Effective Date and Date, upon fulfillment of the conditions in Section 4.014.01 and if there are any loans outstanding under the Prior Credit Agreement, the Revolving Lenders shall make advances among themselves (which may be through the Administrative Agent) so that after giving effect thereto the Revolving Loans will be held by the Revolving Lenders, pro rata in accordance with their respective Revolving Credit Applicable Percentages hereunder. The advances made on the Effective Date under this Section 4.03 by each Revolving Lender whose Revolving Credit Applicable Percentage is new or has increased under this Agreement (as compared to its revolving credit applicable percentage under the Existing Prior Credit Agreement) shall be deemed to be a purchase of a corresponding amount of the Revolving Loans of the Revolving Lender or Revolving Lenders whose Revolving Credit Applicable Percentage has decreased (as compared to its revolving credit applicable percentage under the Existing Prior Credit Agreement). The advances made under this Section 4.03 shall be ABR Borrowings Eurodollar Loans made under each Revolving Lender's ’s Revolving Commitment unless another Type type of Borrowing is selected by the Borrower to be applicable thereto.

Appears in 2 contracts

Samples: Revolving Credit Facility Agreement (Lennox International Inc), Revolving Credit Facility Agreement (Lennox International Inc)

Effective Date Advances and Adjustments. On the Effective Date, the aggregate amount of the revolving commitments under the Existing Original Credit Agreement is changed are being increased hereunder but not all Lenders Banks are participating in the Revolving Commitments based on providing their pro rata percentages established Applicable Percentage (determined under the Existing Original Credit Agreement) of the amount of the increase. As a result, the revolving loans outstanding under the Existing Original Credit Agreement which are continued hereunder will not be held pro rata by the Lenders Banks in accordance with their Revolving Credit the Applicable Percentages determined hereunder. To remedy the foregoingforgoing, on the Effective Date and upon fulfillment of the conditions in Section 4.013.01, the Lenders Banks shall make advances among themselves (which may be through the Administrative Agent) so that after giving effect thereto the Revolving Loans (which are not Swingline Loans) will be held by the LendersBanks, pro rata in accordance with their respective Revolving Credit the Applicable Percentages hereunder. The advances made on the Effective Date under this Section 4.03 3.03 by each Lender Bank whose Revolving Credit Applicable Percentage is new or has increased under this Agreement (as compared to its revolving credit percentage Applicable Percentage under the Existing Original Credit Agreement) shall be deemed to be a purchase of a corresponding amount of the Revolving Loans of the Lender Bank or Lenders Banks whose Revolving Credit Percentage has Applicable Percentages have decreased (as compared to its revolving credit percentage the Applicable Percentages under the Existing Original Credit Agreement). The advances made under this Section 4.03 3.03 shall be ABR Borrowings Base Rate Loans made under each LenderBank's Revolving Commitment unless another Type of Borrowing is selected by the Commitment. ARTICLE IV Representations and Warranties ------------------------------ The Borrower to be applicable thereto.represents and warrants that:

Appears in 1 contract

Samples: Credit Agreement (Elizabeth Arden Inc)

Effective Date Advances and Adjustments. On the Effective Date, the aggregate amount of the revolving commitments under the Existing Credit Agreement is are being changed hereunder but not all Lenders are participating in the Revolving Commitments based on their pro rata percentages established under the Existing Credit pursuant to this Agreement. As a result, the revolving loans any Revolving Loans outstanding under the Existing Credit Agreement which are continued hereunder will not be held pro rata by the Lenders in accordance with their Revolving Credit the Applicable Percentages or Applicable Multicurrency Percentages determined hereunder. To remedy the foregoing, on the Effective Date and upon fulfillment of the conditions in Section 4.014.01 and 4.02, the Lenders shall shall, if any Revolving Loans are outstanding under the Existing Credit Agreement on the Effective Date, make advances among themselves (which may be either directly or through the Administrative Agent) Agent so that after giving effect thereto the Revolving Loans will be held by the Lenders, pro rata in accordance with their respective Revolving Credit the Applicable Percentages hereunderand Applicable Multicurrency Percentages, as applicable. The Any advances made on the Effective Date under this Section 4.03 by each Lender whose Revolving Credit Applicable Percentage is new or Applicable Multicurrency Percentage has increased under this Agreement (as compared to its revolving credit percentage those under the Existing Credit Agreement) shall be deemed to be a purchase of a corresponding amount of the Revolving Loans of the Lender or Lenders whose Revolving Credit Applicable Percentages or Applicable Multicurrency Percentage has have decreased (as compared to its revolving credit percentage those under the Existing Credit Agreement). The advances made under this Section 4.03 shall be ABR Borrowings made under each Lender's Revolving Commitment unless another Type of Borrowing is selected by the Borrower to be applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Smithfield Foods Inc)

Effective Date Advances and Adjustments. On the Effective Date, the aggregate amount of the revolving commitments under the Existing Credit Agreement is changed hereunder but not all Lenders are participating in the Revolving Commitments based on their pro rata percentages established under the Existing Credit Agreement. As a result, the revolving loans outstanding under the Existing Credit Agreement which are continued hereunder will not be held pro rata by the Lenders in accordance with their Revolving Credit Applicable Percentages determined hereunder. To remedy the foregoing, on the Effective Date and upon fulfillment of the conditions in Section 4.01, the Lenders shall make advances among themselves (which may be through the Administrative Agent) so that after giving effect thereto the Revolving Loans will be held by the Lenders, pro rata in accordance with their respective Revolving Credit Applicable Percentages hereunder. The advances made on the Effective Date under this Section 4.03 by each Lender whose Revolving Credit Applicable Percentage is new or has increased under this Agreement (as compared to its revolving credit applicable percentage under the Existing Credit Agreement) shall be deemed to be a purchase of a corresponding amount of the Revolving Loans of the Lender or Lenders whose Revolving Credit Applicable Percentage has decreased (as compared to its revolving credit applicable percentage under the Existing Credit Agreement). The advances made under this Section 4.03 shall be ABR Borrowings made under each Lender's ’s Revolving Commitment unless another Type of Borrowing is selected by the Borrower to be applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Acxiom Corp)

Effective Date Advances and Adjustments. On the Effective Date, the aggregate amount of the revolving commitments under the Existing Credit Prior Agreement is changed hereunder but not all Lenders are participating in the Revolving Commitments based on their pro rata percentages established under the Existing Credit Prior Agreement. As a result, the revolving loans outstanding under the Existing Credit Prior Agreement which are continued hereunder will not be held pro rata by the Lenders in accordance with their Revolving Credit Applicable Percentages determined hereunder. To remedy the foregoing, on the Effective Date and upon fulfillment of the conditions in Section 4.01, the Lenders shall make advances among themselves (which may be through the Administrative Agent) so that after giving effect thereto the Revolving Loans will be held by the Lenders, pro rata in accordance with their respective Revolving Credit Applicable Percentages hereunder. The advances made on the Effective Date under this Section 4.03 by each Lender whose Revolving Credit Applicable Percentage is new or has increased under this Agreement (as compared to its revolving credit applicable percentage under the Existing Credit Prior Agreement) shall be deemed to be a purchase of a corresponding amount of the Revolving Loans of the Lender or Lenders whose Revolving Credit Applicable Percentage has decreased (as compared to its revolving credit applicable percentage under the Existing Credit Prior Agreement). The advances made under this Section 4.03 shall be ABR Borrowings made under each Lender's Revolving Commitment unless another Type of Borrowing is selected by the Borrower to be applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Acxiom Corp)

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Effective Date Advances and Adjustments. On the Effective Date, the aggregate amount of the revolving commitments under the Existing Credit Agreement is changed hereunder but hereunder, new Lenders are being added hereto and not all Lenders party to the Existing Credit Agreement are participating in the Revolving Commitments based on their pro rata percentages established under the Existing Credit Agreement. As a result, the any revolving loans outstanding under the Existing Credit Agreement which are continued hereunder will not be held pro rata by the Lenders in accordance with their Revolving Credit Percentages determined hereunder. To remedy the foregoing, on the Effective Date and upon fulfillment of the conditions in Section 4.01, the Lenders shall make advances among themselves (which may be through the Administrative Agent) so that after giving effect thereto and to the extent necessary so that the Revolving Loans will be held by the Lenders, pro rata in accordance with their respective Revolving Credit Percentages hereunder. The Any advances made on the Effective Date under this Section 4.03 by each Lender whose Revolving Credit Percentage is new or has increased under this Agreement (as compared to its revolving credit percentage under the Existing Credit Agreement) shall be deemed to be a purchase of a corresponding amount of the Revolving Loans of the Lender or Lenders whose Revolving Credit Percentage has decreased (as compared to its revolving credit percentage under the Existing Credit Agreement). The advances made under this Section 4.03 shall be ABR Borrowings made under each Lender's ’s Revolving Commitment unless another Type of Borrowing is selected by the Borrower to be applicable thereto.

Appears in 1 contract

Samples: Credit Agreement (Trinity Industries Inc)

Effective Date Advances and Adjustments. On the Effective Date, the aggregate amount of the revolving commitments under the Existing Prior Credit Agreement is changed hereunder not changing but not all Lenders are participating Lenders’ participations in the Revolving Commitments based on may differ due from their pro rata percentages established under the Existing Prior Credit Agreement. As a result, the revolving any loans outstanding under the Existing Prior Credit Agreement which are continued hereunder will may not be held pro rata by the Revolving Lenders in accordance with their Revolving Credit Applicable Percentages determined hereunder. To remedy the foregoing, on the Effective Date and Date, upon fulfillment of the conditions in Section 4.014.01 and if there are any loans outstanding under the Prior Credit Agreement, the Revolving Lenders shall make advances among themselves (which may be through the Administrative Agent) so that after giving effect thereto the Revolving Loans will be held by the Revolving Lenders, pro rata in accordance with their respective Revolving Credit Applicable Percentages hereunder. The advances made on the Effective Date under this Section 4.03 by each Revolving Lender whose Revolving Credit Applicable Percentage is new or has increased under this Agreement (as compared to its revolving credit applicable percentage under the Existing Prior Credit Agreement) shall be deemed to be a purchase of a corresponding amount of the Revolving Loans of the Revolving Lender or Revolving Lenders whose Revolving Credit Applicable Percentage has decreased (as compared to its revolving credit applicable percentage under the Existing Prior Credit Agreement). The advances made under this Section 4.03 shall be ABR Borrowings Eurodollar Loans made under each Revolving Lender's ’s Revolving Commitment and under the Term Loan unless another Type type of Borrowing is selected by the Borrower to be applicable thereto.

Appears in 1 contract

Samples: Credit Facility Agreement (Lennox International Inc)

Effective Date Advances and Adjustments. On the Effective Date, the aggregate amount of the revolving commitments under the Existing Original Credit Agreement is changed are being increased hereunder but not all Lenders are participating in the Revolving Commitments based on providing their pro rata percentages established Applicable Percentage (determined under the Existing Original Credit Agreement) of the amount of the increase. As a result, the revolving loans outstanding under the Existing Original Credit Agreement which are continued hereunder will not be held pro rata by the Lenders in accordance with their Revolving Credit Percentages the Applicable Percentage determined hereunder. To remedy the foregoingforgoing, on the Effective Date and upon fulfillment of the conditions in Section 4.01, the Lenders shall make advances among themselves (which may be through the Administrative Agent) so that after giving effect thereto the Revolving Loans (which are not Swingline Loans) will be held by the Lenders, pro rata in accordance with their respective Revolving Credit Percentages the Applicable Percentage hereunder. The advances made on the Effective Date under this Section 4.03 by each Lender whose Revolving Credit Applicable Percentage is new or has increased under this Agreement (as compared to its revolving credit percentage "Applicable Percentage" under the Existing Original Credit Agreement) shall be deemed to be a purchase of a corresponding amount of the Revolving Loans of the Lender or Lenders whose Revolving Credit Applicable Percentage has have decreased (as compared to its revolving credit percentage the "Applicable Percentage" under the Existing Original Credit Agreement). The advances made under this Section 4.03 shall be ABR Borrowings Loans made under each Lender's Revolving Commitment unless another Type Commitment. All advances made under this Section 4.03 and to "Assignors" under the Master Assignment and Acceptance dated as of Borrowing is selected by the Borrower to date hereof on the Effective Date shall be applicable theretomade through the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Galyans Trading Co Inc)

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