Incremental Amendment Effective Date Reallocation Sample Clauses

Incremental Amendment Effective Date Reallocation. (a) On the Incremental Amendment Effective Date, each of the Lenders holding Existing Revolving Credit Commitments is hereby deemed to assign to each of the Incremental Revolving Credit Lenders pursuant to Section 9.04 of the Credit Agreement notwithstanding that no Assignment and Assumption will be executed and delivered to the Agent, and each of the Incremental Revolving Credit Lenders is hereby deemed to purchase from each of the Lenders holding Existing Revolving Credit Commitments, at the principal amount thereof, such interests in the Revolving Credit Loans outstanding on the Incremental Amendment Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Revolving Loans are held by the Lenders ratably in accordance with their Commitments after giving effect to the addition of such Incremental Revolving Credit Commitments to the Existing Revolving Credit Commitments. (b) With effect from and including the Incremental Amendment Effective Date and the increase in the Commitments as contemplated hereby, each Lender (other than any Incremental Revolving Credit Lender), immediately prior to such increase will automatically and without further act be deemed to have assigned to each Incremental Revolving Credit Lender, and each Incremental Revolving Credit Lender will automatically and without further act be deemed to have assumed, a portion of such Lender’s participations under the Credit Agreement in outstanding Letters of Credit such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding participations under the Credit Agreement in Letters of Credit held by each Lender will equal the percentage of the aggregate Commitments (after giving effect to the Incremental Revolving Credit Commitments) represented by such Lender’s Revolving Credit Commitment (after giving effect to the Incremental Revolving Credit Commitments, if applicable).