Effective Date Reallocation. On the Second Amendment Effective Date, the Existing Lenders (including, but not limited to, the Exiting Lender) shall automatically and without further act assign to the Lenders holding Revolver Commitments immediately after to the Second Amendment Effective Date (the “Continuing Lenders”), and the Continuing Lenders shall purchase from the Existing Lenders, at the principal amount thereof, such interests in the Loans outstanding on the Second Amendment Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Loans are held by the Continuing Lenders ratably in accordance with their Revolver Commitments as set forth on Schedule 1 attached hereto and incorporated herein by reference. The requirements under Section 12 of the Loan Agreement and requirements in respect of minimum borrowing, pro rata borrowing and pro rata payment requirements contained elsewhere in the Loan Agreement shall not apply to the transactions effected pursuant to the immediately preceding sentence.
Effective Date Reallocation. On the Effective Date, the Existing Lenders (including, but not limited to, the Exiting Lender) shall automatically and without further act assign to the Lenders holding Revolver Commitments immediately after to the Effective Date (the “Continuing Lenders”), and the Continuing Lenders shall purchase from the Existing Lenders, at the principal amount thereof, such interests in the Loans outstanding on the Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Loans are held by the Continuing Lenders ratably in accordance with their Revolver Commitments as set forth on SCHEDULE 1 attached hereto and incorporated herein by reference. The requirements under Section 12 of the Loan Agreement and requirements in respect of minimum borrowing, pro rata borrowing and pro rata payment requirements contained elsewhere in the Loan Agreement shall not apply to the transactions effected pursuant to the immediately preceding sentence.
Effective Date Reallocation. On the Effective Date (as defined in Amendment No. 1, the "Effective Date") after giving effect to the assignments contemplated by Section 4.08 of Amendment No. 1, the following shall become effective:
(i) the Commitments of each Lender shall be as set forth in Schedule I to Amendment No. 1, which shall be deemed to replace in its entirety Schedule I hereto as in effect immediately prior to giving effect to Amendment No. 1;
(ii) each Lender whose Commitment is decreasing (a "Decreasing Lender") (relative to the "Commitment" of such Lender immediately prior to giving effect to Amendment No.
1) shall assign a portion of its Commitment to each Lender whose Commitment is increasing (relative to the Commitment of such Lender under the Credit Agreement immediately prior to giving effect to Amendment No. 1) (an "Increasing Lender"), and each such Increasing Lender agrees to take by assignment a portion of the Commitment of such Decreasing Lender, such that immediately after giving effect to all such assignments under this Section 2.01(b)(ii), the Commitments of all Lenders are as set forth in Schedule I hereto as referred to in Section 2.01(b)(i) hereof;
(iii) if after giving effect to the adjustments under clauses (i) and (ii) above, any Decreasing Lender does not hold Loans of each Type ratably with the other Lenders in accordance with their respective Commitments, the Company shall prepay (on a non-pro rata basis, notwithstanding anything to the contrary in Section 4.02 hereof) the Loans of each Type of such Lender in an amount such that after giving effect to such non-pro rata payment and the making of Loans in accordance with Section 2.01(b)(iv) hereof, all Lenders hold Loans of each Type ratably in accordance with their respective aggregate Commitments as in effect on the Effective Date;
(iv) if after giving effect to the adjustments under clauses (i), (ii) and (iii) above, any Increasing Lender does not hold Loans of each Type hereunder ratably with the Other Lenders in accordance with their respective Commitments, such Lender severally agrees to make Loans (on a non-pro rata basis, notwithstanding anything to the contrary in Section 4.02 hereof) of the Types and in the amounts such that after giving effect to the making of such Loans, all Lenders hold Loans of each Type ratably in accordance with their respective Commitments; and
Effective Date Reallocation. On the Third Amendment Effective Date, the Existing Lenders shall automatically and without further act assign to the New Lender, and the New Lender shall purchase from the Existing Lenders, at the principal amount thereof, such interests in the Loans outstanding on the Third Amendment Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Loans are held by the Existing Lenders and the New Lender ratably in accordance with their Revolver Commitments as set forth on Schedule 1 attached hereto and incorporated herein by reference. The requirements under Section 12 of the Loan Agreement and requirements in respect of minimum borrowing, pro rata borrowing and pro rata payment requirements contained elsewhere in the Loan Agreement shall not apply to the transactions effected pursuant to the immediately preceding sentence.
Effective Date Reallocation. It is understood and agreed that prior to the earlier of (x) the Replacement Revolving Credit Termination Date or (y) such other date as the Replacement Revolving Credit Commitments shall be terminated in full, no prepayments of Replacement Revolving Credit Loans shall be made in respect of the outstanding Replacement Revolving Credit Loans held by Xxxxxx and that Xxxxxx’x ratable share of any such prepayment shall be allocated to the other Replacement Revolving Credit Lenders in accordance with their respective Revolving Credit Percentages.
