Common use of Mandatory Repayments of Revolving Credit Loans Clause in Contracts

Mandatory Repayments of Revolving Credit Loans. If at any time the outstanding aggregate principal amount of the Revolving Credit Loans exceeds the Total Commitment, then the Borrower shall immediately pay the amount of such excess to the Agent for application to the Revolving Credit Loans for the respective accounts of the Banks. Each prepayment of Revolving Credit Loans shall be allocated among the Banks, in proportion, as nearly as practicable to the respective unpaid principal amount of each Bank's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Staples Inc), Revolving Credit Agreement (Staples Inc)

AutoNDA by SimpleDocs

Mandatory Repayments of Revolving Credit Loans. If at any time the aggregate outstanding aggregate principal amount of the Revolving Credit Loans exceeds the Total Commitment, then the Borrower shall immediately pay the amount of such excess to the Administrative Agent for the respective accounts of the Banks for application to the Revolving Credit Loans for the respective accounts of the BanksLoans. Each prepayment of Revolving Credit Loans shall be allocated among the Banks, in proportion, as nearly as practicable practicable, to the respective unpaid principal amount of each Bank's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Hvide Marine Inc)

Mandatory Repayments of Revolving Credit Loans. If at any time the sum of the outstanding aggregate principal amount of the Revolving Credit Loans exceeds the Total Commitment, then the Borrower shall immediately pay the amount of such excess to the Agent for the respective accounts of the Banks for application to the Revolving Credit Loans for the respective accounts of the BanksLoans. Each prepayment of Revolving Credit Loans shall be allocated among the Banks, in proportion, as nearly as practicable practicable, to the respective unpaid principal amount of each Bank's Revolving Credit NoteLoan, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Decisionone Holdings Corp)

Mandatory Repayments of Revolving Credit Loans. If at any time the outstanding aggregate principal sum of the Outstanding amount of the Revolving Credit Loans exceeds the Total Revolving Credit Commitment, then the Borrower shall immediately pay the amount of such excess to the Agent for the respective accounts of the Banks for application to the Revolving Credit Loans for the respective accounts of the BanksLoans. Each prepayment of Revolving Credit Loans shall be allocated among the Banks, in proportion, as nearly as practicable practicable, to the respective unpaid principal amount of each Bank's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Perkins Family Restaurants Lp)

AutoNDA by SimpleDocs

Mandatory Repayments of Revolving Credit Loans. If at any time the sum of the outstanding aggregate principal amount of the Revolving Credit Loans exceeds the Total Commitment, then the Borrower shall immediately pay the amount of such excess to the Agent for the respective accounts of the Banks for application to the Revolving Credit Loans for the respective accounts of the BanksLoans. Each prepayment payment of any Revolving Credit Loans shall be allocated among the Banks, in proportion, as nearly as practicable practicable, to the respective unpaid principal amount of each Bank's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Stride & Associates Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!