Equalization of Loans. Upon the satisfaction of the conditions precedent set forth in Section 6.2 hereof, all loans and letters of credit outstanding under the Existing Credit Agreement shall remain outstanding as the initial Borrowing of Loans and Letters of Credit under this Agreement and, in connection therewith, the Borrowers shall be deemed to have prepaid all outstanding Eurodollar Loans on the Closing Date. On the Closing Date, the Lenders each agree to make such purchases and sales of interests in the outstanding Loans and interests in outstanding Letters of Credit between themselves so that each Lender is then holding its relevant Percentage of outstanding Loans and L/C Obligations. Such purchases and sales shall be arranged through the Agent and each Lender hereby agrees to execute such further instruments and documents, if any, as the Agent may reasonably request in connection therewith.
Equalization of Loans. Upon the Effective Date, the Lenders (other than the Departing Lenders) each agree to make such purchases and sales of interests in the outstanding Loans and interests in outstanding Letters of Credit among themselves so that each Lender is then holding its relevant Pro Rata share of outstanding Loans and LC Obligations. Such purchases and sales shall be arranged through the Agent and each Lender hereby agrees to execute such further instruments and documents, if any, as the Agent may reasonably request in connection therewith.
Equalization of Loans. Upon the satisfaction of the conditions precedent set forth in Section 7.2 hereof, all loans outstanding under the Original Credit Agreement shall remain outstanding as the initial Borrowing of Loans under this Agreement and, in connection therewith, the Borrower shall be deemed to have prepaid all outstanding Eurodollar Loans on the Closing Date. On the Closing Date, the Lenders each agree to make such purchases and sales of interests in the outstanding Loans between themselves so that each Lender is then holding its relevant Percentage of outstanding Loans. Such purchases and sales shall be arranged through the Administrative Agent and each Lender hereby agrees to execute such further instruments and documents, if any, as the Administrative Agent may reasonably request in connection therewith.
Equalization of Loans. On the Restatement Effective Date, all Loans outstanding hereunder shall remain outstanding as Loans under this Agreement and each of the Lenders with outstanding Loans that are in amounts different than such Lender’s Commitment set forth on Schedule 1 after giving effect to this Agreement agrees to make such purchases and sales of the outstanding Loans among themselves so that each such Lender is then holding its Percentage of outstanding Loans. Such purchases and sales shall be arranged through the Administrative Sub-Agent and each applicable Lender hereby agrees to execute such further instruments and documents, if any, as the Administrative Sub-Agent may reasonably request in connection therewith. The first payment of interest received by the Administrative Sub-Agent after the Restatement Effective Date shall be paid to the Lenders in amounts adjusted to reflect the adjustments to the respective Percentages of the Loans as of the Restatement Effective Date. [Signature Pages to Follow] -125- This Agreement is entered into between us for the uses and purposes hereinabove set forth as of the date first above written. “Borrower” Turning Point Brands, Inc. By /s/ Xxxx X. Xxxxxxxx Name: Xxxx X. Xxxxxxxx Title: Senior Vice President and Chief Financial Officer “Guarantors” North Atlantic Trading Company, Inc. Intrepid Brands, LLC National Tobacco Company, L.P. National Tobacco Finance, LLC North Atlantic Operating Company, Inc. North Atlantic Cigarette Company, Inc. RBJ Sales, Inc. Turning Point Brands, LLC Vapor Beast LLC Vapor Shark, LLC Vapor Shark Miami, LLC Vapor Shark Hallandale, LLC Vapor Shark Xxxxxxx, LLC Vapor Shark Pinecrest, LLC Vapor Shark Palmetto Bay, LLC Vapor Shark Flagami, LLC Vapor Shark Coral Springs, LLC By /s/ Xxxx X. Xxxxxxxx Name: Xxxx X. Xxxxxxxx Title: Senior Vice President and Chief Financial Officer [Signature Page to Amended and Restated Second Lien Credit Agreement (Turing Point Brands)] “Agents” Prospect Capital Corporation, a Maryland corporation, as Administrative Agent By /s/ X. Xxxxx Xxxxxxx Name X. Xxxxx Eliasek Title President and Chief Operating Officer [Signature Page to Amended and Restated Second Lien Credit Agreement (Turing Point Brands)] Fifth Third Bank, an Ohio banking corporation, as Administrative Sub-Agent, and Lender By /s/ Xxxx Xxxx Name Xxxx Xxxx Title VP [Signature Page to Amended and Restated Second Lien Credit Agreement (Turing Point Brands)] “Lenders” Prospect Capital Funding LLC, a Delaware limited liab...
Equalization of Loans. On the Closing Date, (i) all outstanding loans under the Existing Credit Agreement (“Existing Loans”) made by any Person that is a “Lender” under the Existing Credit Agreement which is not a Lender hereunder (each, a “Departing Lender”) shall be repaid in full and the commitments and other obligations and rights (except as expressly set forth in the Existing Credit Agreement) of such Exiting Lender shall be terminated, (ii) all outstanding Existing Loans under the Existing Credit Agreement that are not being repaid under clause (i) above shall be deemed Loans hereunder and the Agent shall make such transfers of funds as are necessary in order that the outstanding balance of such Loans, together with any Loans funded on the Closing Date, shall held by each Lender in accordance with its relevant Percentage, (iii) there shall have been paid in cash in full all accrued but unpaid interest on the Existing Loans to the Closing Date, and (iv) there shall have been paid in cash in full all accrued but unpaid fees under the Existing Credit Agreement due to the Closing Date and all other amounts, costs and expenses then owing to any of the Departing Lenders.
Equalization of Loans. Upon the satisfaction of the conditions precedent set forth in Article IV hereof, all loans and letters of credit outstanding under the Original Credit Agreement shall remain outstanding as the initial Borrowing of Loans and Letters of Credit under this Agreement and, in connection therewith, the Borrowers shall be deemed to have prepaid all outstanding SOFR Loans on the Closing Date. On the Closing Date, the Lenders each agree to make such purchases and sales of interests in the outstanding Loans and interests in outstanding Letters of Credit between themselves so that each Lender is then holding its Applicable Percentage of outstanding Loans and LC Obligations. Such purchases and sales shall be arranged through the Administrative Agent and each Lender hereby agrees to execute such further instruments and documents, if any, as the Administrative Agent may reasonably request in connection therewith. For the avoidance of doubt, no Early Termination Fee (as such term is defined in the Original Credit Agreement) shall be due and payable in connection with the amendment and restatement of the Original Credit Agreement.
Equalization of Loans. Upon the satisfaction of the conditions precedent set forth in Section 6.1 hereof, all loans and letters of credit outstanding under the Original Credit Agreement shall remain outstanding as the initial Borrowing of Revolver Loans and Letters of Credit under this Agreement and, in connection therewith, the Borrowers shall be deemed to have prepaid all outstanding LIBORSOFR Loans on the Closing Date. On the Closing Date, the Lenders each agree to make such purchases and sales of interests in the outstanding Revolver Loans and interests in outstanding Letters of Credit between themselves so that each Lender is then holding its Pro Rata share of Revolver Loans and LC Obligations. Such purchases and sales shall be arranged through the Agent and each Lender hereby agrees to execute such further instruments and documents, if any, as the Agent may reasonably request in connection therewith.
Equalization of Loans. Upon the satisfaction of the conditions precedent set forth in Section 6.2 hereof, all loans and letters of credit outstanding under the Existing Credit Agreement shall remain outstanding as the initial Borrowing of Loans and Letters of Credit under this Agreement and, in connection therewith, the Borrowers shall be deemed to have prepaid all outstanding Eurodollar Loans (as defined in the Credit Agreement in effect on the Closing Date) on the Closing Date. On the Closing Date, the Lenders each agree to make such purchases and sales of interests in the outstanding Loans and interests in outstanding Letters of Credit between themselves so that each Lender is then holding its relevant Percentage of outstanding Loans and L/C Obligations. Such purchases and sales shall be arranged through the Agent and each Lender hereby agrees to execute such further instruments and documents, if any, as the Agent may reasonably request in connection therewith.
