Method and Time of Payments; Sharing among Lenders. (a) All funds received by the Administrative Agent for the account of the Lenders in respect of payments made by the Borrower under, or from any other Person on account of, any Credit Document shall be distributed forthwith by the Administrative Agent among the Lenders, in like funds as received, ratably in proportion to their respective interests therein. Each payment of Commitment Fees and each reduction of the Total Commitment shall be apportioned among the Lenders in proportion to each Lender’s Pro Rata Share.
Appears in 10 contracts
Samples: Credit Agreement (Southwest Gas Holdings, Inc.), Credit Agreement (Southwest Gas Holdings, Inc.), Credit Agreement (Southwest Gas Holdings, Inc.)
Method and Time of Payments; Sharing among Lenders. (a) All funds received by the Administrative Agent for the account of the Lenders in respect of payments made by the Borrower under, or from any other Person on account of, any Credit Document shall be distributed forthwith by the Administrative Agent among the Lenders, in like funds as received, ratably in proportion to their respective interests therein. Each payment of Commitment Fees and each reduction of the Total Commitment shall be apportioned among the Lenders in proportion to each Lender’s Pro Rata Share.
Appears in 4 contracts
Samples: Term Loan Credit Agreement (Southwest Gas Corp), Day Term Loan Credit Agreement (Southwest Gas Holdings, Inc.), Term Loan Agreement (Southwest Gas Corp)
Method and Time of Payments; Sharing among Lenders. (a) All funds received by the Administrative Agent for the account of the Lenders in respect of payments made by the Borrower under, or from any other Person on account of, any Credit Document shall be distributed forthwith promptly by the Administrative Agent among the Lenders, in like funds as received, ratably in proportion to their respective interests therein. Each payment of the Commitment Fees Fee and each reduction of the Total Commitment Commitments shall be apportioned among the Lenders in proportion to each Lender’s Pro Rata Share.
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