Funding Obligations. Except with respect to the making of Swing Loans by the Swing Line Lender, all Loans hereunder shall be funded as follows: (i) all Revolving Loans made, and Revolving Facility LC Participations acquired by each Revolving Lender, shall be made or acquired, as the case may be, on a pro rata basis based upon each Revolving Lender’s Funding Percentage of the amount of such Revolving Borrowing or Revolving Facility Letter of Credit in effect on the date the applicable Revolving Borrowing is to be made or the Revolving Facility Letter of Credit is to be issued, (ii) all Term Loans made shall be made by the Term Lenders on a pro rata basis based upon the percentage obtained by dividing each such Term Lender’s Term Commitment by the aggregate of all Term Commitments at such time and (iii) all Canadian Revolving Loans made, and Canadian LC Participations acquired by each Canadian Lender, shall be made or acquired, as the case may be, on a pro rata basis based upon each Canadian Lender’s Canadian Commitment Percentage of the amount of such Canadian Borrowing or Canadian LC Participation in effect on the date the applicable Canadian Borrowing is to be made.
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Samples: Credit Agreement (American Greetings Corp), Credit Agreement (American Greetings Corp)
Funding Obligations. Except with respect to the making of Swing Loans by the Swing Line Lender, all Loans hereunder shall be funded as follows: :
(i) all Revolving Loans made, and Revolving Facility LC Participations acquired by each Revolving Lender, shall be made or acquired, as the case may be, on a pro rata basis based upon each Revolving Lender’s Funding Percentage of the amount of such Revolving Borrowing or Revolving Facility Letter of Credit in effect on the date the applicable Revolving Borrowing is to be made or the Revolving Facility Letter of Credit is to be issued, (ii) all Term Loans made shall be made by the Term Lenders on a pro rata basis based upon the percentage obtained by dividing each such Term Lender’s Term Commitment by the aggregate of all Term Commitments at such time and (iii) all Canadian Revolving Loans made, and Canadian LC Participations acquired by each Canadian Lender, shall be made or acquired, as the case may be, on a pro rata basis based upon each Canadian Lender’s Canadian Commitment Percentage of the amount of such Canadian Borrowing or Canadian LC Participation in effect on the date the applicable Canadian Borrowing is to be made.
Appears in 2 contracts
Samples: Credit Agreement (American Greetings Corp), Credit Agreement (American Greetings Corp)
Funding Obligations. Except with respect to the making of Swing Loans by the Swing Line Lender and Foreign Currency Loans by an Accepting Lender or Augmenting Lender, all Loans hereunder shall be funded as follows: :
(i) all Revolving Loans made, and Revolving Facility LC Participations acquired by each Revolving Lender, shall be made or acquired, as the case may be, on a pro rata basis based upon each Revolving Lender’s Funding Percentage of the amount of such Revolving Borrowing or Revolving Facility Letter of Credit in effect on the date the applicable Revolving Borrowing is to be made or the Revolving Facility Letter of Credit is to be issued, and (ii) all Term Loans made shall be made by the Term Lenders on a pro rata basis based upon the percentage obtained by dividing each such Term Lender’s Term Commitment by the aggregate of all Term Commitments at such time and (iii) all Canadian Revolving Loans made, and Canadian LC Participations acquired by each Canadian Lender, shall be made or acquired, as the case may be, on a pro rata basis based upon each Canadian Lender’s Canadian Commitment Percentage of the amount of such Canadian Borrowing or Canadian LC Participation in effect on the date the applicable Canadian Borrowing is to be made. Each Foreign Currency Loan shall be funded by one or more Accepting Lenders and/or Augmenting Lenders in such proportions agreed to among such Accepting Lenders, Augmenting Lenders, the Company and the Global Agent immediately prior to the time of the making of such Foreign Currency Loan.
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