Common use of Loan Adjustments Clause in Contracts

Loan Adjustments. In accordance with Section 2.15(h) of the Credit Agreement, upon the incurrence of the Incremental Tranche B Revolver Increase, (x) each RL Lender immediately prior to such incurrence will automatically and without further act be deemed to have assigned to each Incremental Revolving Lender, and each such Incremental Revolving Lender will automatically and without further act be deemed to have assumed, a portion of such RL Lender’s participations hereunder in outstanding Letters of Credit and Swingline Loans such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding (i) participations hereunder in Letters of Credit and (ii) participations hereunder in Swingline Loans held by each RL Lender (including each such Incremental Revolving Lender) will equal the percentage of the aggregate Revolving Loan Commitments of all RL Lenders represented by such RL Lender’s Revolving Loan Commitment and (y) if, on the Third Amendment Effective Date, there are any Revolving Loans outstanding, such Revolving Loans shall on or prior to the effectiveness of the Incremental Tranche B Revolver Increase be prepaid from the proceeds of Revolving Loans made under the Credit Agreement (reflecting such increase in Revolving Loan Commitments pursuant to the Incremental Tranche B Revolver Increase), which prepayment shall be accompanied by accrued interest on the Revolving Loans being prepaid and any costs incurred by any Lender pursuant to such prepayment in accordance with Section 2.11 of the Credit Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Dynegy Inc.), Term Loan Credit Agreement (Dynegy Inc.)

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Loan Adjustments. In accordance with Section 2.15(h) of the Credit Agreement, upon the incurrence of the Incremental Tranche B Revolver IncreaseRevolving Loan Commitments, (x) each RL Lender immediately prior to such incurrence will automatically and without further act be deemed to have assigned to each Incremental Revolving Lender, and each such Incremental Revolving Lender will automatically and without further act be deemed to have assumed, a portion of such RL Lender’s participations hereunder in outstanding Letters of Credit and Swingline Loans such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding (i) participations hereunder in Letters of Credit and (ii) participations hereunder in Swingline Loans held by each RL Lender (including each such Incremental Revolving Lender) will equal the percentage of the aggregate Revolving Loan Commitments of all RL Lenders represented by such RL Lender’s Revolving Loan Commitment and (y) if, on the Third Second Amendment Effective Date, there are any Revolving Loans outstanding, such Revolving Loans shall on or prior to the effectiveness of the Incremental Tranche B Revolver Increase Revolving Loan Commitments be prepaid from the proceeds of Revolving Loans made under the Credit Agreement (reflecting such increase in Revolving Loan Commitments pursuant to the Incremental Tranche B Revolver IncreaseRevolving Loan Commitments), which prepayment shall be accompanied by accrued interest on the Revolving Loans being prepaid and any costs incurred by any Lender pursuant to such prepayment in accordance with Section 2.11 of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Dynegy Inc.)

Loan Adjustments. In accordance with Section 2.15(h) and Section 2.16(c) of the Credit Agreement, upon the incurrence occurrence of the Incremental Tranche B Initial Revolving Loan Extension and the immediately subsequent incurrence by the Borrower of the Extended Initial Revolver Increase, (x) each RL Lender immediately prior to such extension and incurrence will automatically and without further act be deemed to have assigned to each Upsizing Extending RL Lender and each Incremental Revolving RL Lender, and each such Upsizing Extending RL Lender and each Incremental Revolving RL Lender will automatically and without further act be deemed to have assumed, a portion of such other RL Lender’s participations hereunder in outstanding Letters of Credit and Swingline Loans such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding (i) participations hereunder in Letters of Credit and (ii) participations hereunder in Swingline Loans held by each RL Lender (including each such Upsizing Extending RL Lender and/or any Incremental Revolving RL Lender) will equal the percentage of the aggregate Revolving Loan Commitments of all RL Lenders represented by such RL Lender’s Revolving Loan Commitment and (y) if, on the Third Fourth Amendment Effective Date, there are any Revolving Loans outstanding, such Revolving Loans shall on or prior to the effectiveness of the Incremental Tranche B Extended Initial Revolver Increase be prepaid from the proceeds of Revolving Loans made under the Credit Agreement (reflecting such increase in Revolving Loan Commitments pursuant to the Incremental Tranche B Extended Initial Revolver Increase), which prepayment shall be accompanied by accrued interest on the Revolving Loans being prepaid and any costs incurred by any Lender pursuant to such prepayment in accordance with Section 2.11 of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Dynegy Inc.)

Loan Adjustments. In accordance with Section 2.15(h) of the Credit Agreement, upon the incurrence of the Incremental Tranche B Revolver IncreaseA Revolving Loan Commitments, (x) each RL Lender immediately prior to such incurrence will automatically and without further act be deemed to have assigned to each Incremental Revolving Lender, and each such Incremental Revolving Lender will automatically and without further act be deemed to have assumed, a portion of such RL Lender’s participations hereunder in outstanding Letters of Credit and Swingline Loans such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding (i) participations hereunder in Letters of Credit and (ii) participations hereunder in Swingline Loans held by each RL Lender (including each such Incremental Revolving Lender) will equal the percentage of the aggregate Revolving Loan Commitments of all RL Lenders represented by such RL * RBC Capital Markets is a brand name for the capital markets activities of Royal Bank of Canada and its affiliates. Lender’s Revolving Loan Commitment and (y) if, on the Third First Amendment Effective Date, there are any Revolving Loans outstanding, such Revolving Loans shall on or prior to the effectiveness of the Incremental Tranche B Revolver Increase A Revolving Loan Commitments be prepaid from the proceeds of Revolving Loans made under the Credit Agreement (reflecting such increase in Revolving Loan Commitments pursuant to the Incremental Tranche B Revolver IncreaseA Revolving Loan Commitments), which prepayment shall be accompanied by accrued interest on the Revolving Loans being prepaid and any costs incurred by any Lender pursuant to such prepayment in accordance with Section 2.11 of the Credit Agreement.

Appears in 1 contract

Samples: Credit Agreement (Dynegy Inc.)

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Loan Adjustments. In accordance with Section 2.15(h) 3.1 As of the Credit AgreementFirst Amendment Effective Date, upon any Lender increasing its Commitment shall make available to the incurrence Administrative Agent such amounts in immediately available funds as the Administrative Agent shall determine, for the benefit of the Incremental Tranche B Revolver Increaseother Lenders, (x) each RL Lender immediately prior as being required in order to cause, after giving effect to such incurrence will automatically increase and without further act the use of such amounts to make payments to such other Lenders, each Lender’s portion of the outstanding Loans of all the Lenders to equal its revised Pro Rata Share of the Loans, and the Administrative Agent shall make such other adjustments among the Lenders with respect to the Loans then outstanding and amounts of principal, interest, fees and other amounts paid or payable with respect thereto as shall be necessary, in the opinion of the Administrative Agent, in order to effect such reallocation. Each applicable Borrower shall be deemed to have assigned repaid and reborrowed all outstanding Loans as of the First Amendment Effective Date, with related Interest Periods if applicable, specified in a notice delivered by such Borrower. Such deemed payments shall be accompanied by payment of all accrued interest on the amount prepaid and shall be subject to each Incremental indemnification by the Borrower pursuant to the provisions of Section 3.3 if the deemed payment occurs other than on the last day of the related Interest Periods. Without limiting the foregoing, the Pro Rata Share of the Aggregate Revolving Lender, and each such Incremental Revolving Lender will Credit Outstandings of the Lenders shall be automatically and without further act be deemed to have assumed, a portion of such RL Lender’s participations hereunder in outstanding Letters of Credit and Swingline Loans adjusted such that, after giving effect to each such deemed assignment and assumption of participationsadjustments, the percentage of Aggregate Revolving Credit Outstandings are held ratably by the aggregate outstanding Lenders (idetermined giving effect to this Amendment) participations hereunder in Letters of Credit and (iiproportion to their respective Commitments as set forth on Schedule 1.1(a) participations hereunder in Swingline Loans held by each RL Lender (including each such Incremental Revolving Lender) will equal the percentage of the aggregate Revolving Loan Commitments of all RL Lenders represented by such RL Lender’s Revolving Loan Commitment and (y) if, on the Third Amendment Effective Date, there are any Revolving Loans outstanding, such Revolving Loans shall on or prior to the effectiveness of the Incremental Tranche B Revolver Increase be prepaid from the proceeds of Revolving Loans made under the Credit Agreement (reflecting such increase in Revolving Loan Commitments pursuant to the Incremental Tranche B Revolver Increase), which prepayment shall be accompanied by accrued interest on the Revolving Loans being prepaid and any costs incurred by any Lender pursuant to such prepayment in accordance with Section 2.11 of the Credit Agreementattached hereto.

Appears in 1 contract

Samples: Credit Agreement (Diebold Inc)

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