Common use of Pro Rata Treatment Among Banks Clause in Contracts

Pro Rata Treatment Among Banks. Except as otherwise provided herein: (i) each borrowing from the Banks under Section 2.1 hereof will be made from the Banks and each payment of each Fee (other than the Agency Fee and the Frontage Fee) shall be made for the account of the Banks pro rata according to their respective Unused Commitments; (ii) each partial reduction of the Total Commitment shall be applied to the Commitments of the Banks pro rata according to each Bank's respective Commitment; (iii) each conversion of Loans of a particular type under Section 2.21 hereof (other than conversions provided for by Section 2.24 or 2.25 hereof) will be made pro rata among the Banks holding Loans of such type according to the respective principal amounts of such Loans held by such Banks; (iv) each payment and prepayment of principal of or interest on Loans of a particular type will be made to the Agent for the account of the Banks holding Loans of such type pro rata in accordance with the respective unpaid principal amounts of such Loans held by such Banks; and (v) Interest Periods for Loans of a particular type shall be allocated among the Banks holding Loans of such type pro rata according to the respective principal amounts of such Loans held by such Banks.

Appears in 1 contract

Samples: Loan Agreement (J&j Snack Foods Corp)

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Pro Rata Treatment Among Banks. Except as otherwise provided herein: (ia) each borrowing from the Banks under Section 2.1 hereof will be made from the Banks and each payment of each Fee (other than as set forth in subsection 2.8(a) hereof and the Agency Fee and the Frontage Arrangement Fee) shall be made for the account of the Banks pro rata according to the amount of their respective Unused Commitments; (iib) each partial reduction of the Total Revolving Credit Commitment shall be applied to the Commitments of the Banks pro rata according to each Bank's respective Commitment; (iiic) each payment and repayment of principal of or interest on Loans will be made to the Agent for the account of the Banks pro rata in accordance with the respective unpaid principal amounts of the Loans held by such Banks; and (d) each conversion of Loans of a particular type under Section 2.21 hereof (other than conversions provided for by Section 2.24 or 2.25 hereof) will Type shall be made pro rata among the Banks holding Loans of such type according to the respective principal amounts of such Loans held by such Banks; (iv) each payment and prepayment of principal of or interest on Loans of a particular type will be made to the Agent for the account of the Banks holding Loans of such type pro rata in accordance with the respective unpaid principal amounts of such Loans held by such Banks; and (v) Interest Periods for Loans of a particular type shall be allocated among the Banks holding Loans of such type pro rata according to the respective principal amounts of such Loans held by such Banks.

Appears in 1 contract

Samples: Loan Agreement (Omega Healthcare Investors Inc)

Pro Rata Treatment Among Banks. Except as otherwise provided herein: (i) each borrowing from the Banks under Section 2.1 hereof will be made from the Banks and each payment of each Fee (other than the Agency Fee Collateral Management Fee, the Verification Fee, and the Frontage FeeExamination Fee payable to Fleet alone) shall be made for the account of the Banks pro rata according to their respective Unused CommitmentsCommitment Percentages; (ii) each partial reduction of the Total Commitment shall be applied to the Commitments of the Banks pro rata according to each Bank's respective Commitment; (iii) each conversion of Loans of a particular type under Section 2.21 Sections 2.2 and 2.20 hereof (other than conversions provided for by Section 2.24 Sections 2.21, 2.22 or 2.25 2.23 hereof) will be made pro rata among the Banks holding Loans of such type according to the respective principal amounts of such Loans held by such Banks; (iviii) each payment and prepayment of principal of or interest on Loans of a particular type will be made to the Agent for the account of the Banks holding Loans of such type pro rata in accordance with the respective unpaid principal amounts of such Loans held by such Banks; (iv) each partial reduction of the Total Commitment shall be applied to the Commitments of the Banks pro rata and according to each Bank's respective Commitment; and (v) Interest Periods for Loans of a particular type shall be allocated among the Banks holding Loans of such type pro rata according to the respective principal amounts of such Loans held by such Banks.

Appears in 1 contract

Samples: Loan Agreement (National Patent Development Corp)

Pro Rata Treatment Among Banks. Except as otherwise provided herein: (i) each borrowing from the Banks under Section 2.1 hereof will be made from the Banks and each payment of each Fee (other than the Agency Fee and the Frontage Feeissuance fee for Letters of Credit payable to Fleet alone) shall be made for the account of the Banks pro rata according to their respective Unused CommitmentsCommitment Percentages; (ii) each partial reduction of the Total Commitment shall be applied to the Commitments of the Banks pro rata according to each Bank's respective Commitment; (iii) each conversion of Loans of a particular type under Section 2.21 2.20 hereof (other than conversions provided for by Section 2.24 Sections 2.21, 2.22 or 2.25 2.23 hereof) will be made pro rata among the Banks holding Loans of such type according to the respective principal amounts of such Loans held by such Banks; (iv) each payment and prepayment of principal of or interest on Loans of a particular type and Reimbursement Obligations will be made to the Agent for the account of the Banks holding Loans of such type and the Reimbursement Obligations pro rata in accordance with the respective unpaid principal amounts of such Loans and the Reimbursement Obligations held by such Banks; and (v) Interest Periods for Loans of a particular type shall be allocated among the Banks holding Loans of such type pro rata according to the respective principal amounts of such Loans held by such Banks.

Appears in 1 contract

Samples: Credit Agreement (National Patent Development Corp)

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Pro Rata Treatment Among Banks. Except as otherwise provided hereinin this Agreement: (ia) each borrowing from the Banks under Section 2.1 hereof will be made from the Banks and each payment of each the Commitment Fee (other than but not the Agency Fee and the Frontage Pre-Funding Commitment Fee) shall be made for the account of the Banks pro rata according to their respective Unused Commitments; (iib) each partial reduction of the Total Commitment shall be applied to the Commitments of the Banks pro rata according to each Bank's respective Commitment; (iiic) each conversion of Loans of a particular type under Section 2.21 hereof 2.7 (other than conversions provided for by Section 2.24 or 2.25 hereof2.18) will be made pro rata among the Banks holding Loans of such type according to the respective principal amounts of such Loans held by such Banks; (ivd) each payment and prepayment of principal of or interest on Loans of a particular type will be made to the Agent for the account of the Banks holding Loans of such type pro rata in accordance with the respective unpaid principal amounts of such Loans (but not Pre-Funding Loans) held by such Banks; and (ve) Interest Periods for Eurodollar Loans of a particular type shall be allocated among the Banks holding Eurodollar Loans of such type pro rata according to the respective principal amounts of such Eurodollar Loans held by such Banks.

Appears in 1 contract

Samples: Loan Agreement (Dvi Inc)

Pro Rata Treatment Among Banks. Except as otherwise provided herein: (i) each borrowing from the Banks under Section 2.1 hereof will be made from the Banks and each payment of each Fee (other than the Agency Fee and the Frontage Fee) shall be made for the account of the Banks pro rata according to their respective Unused Commitments; (ii) each partial reduction of the Total Commitment shall be applied to the Commitments of the Banks pro rata according to each Bank's ’s respective Commitment; (iii) each conversion of Loans of a particular type under Section 2.21 hereof (other than conversions provided for by Section 2.24 or 2.25 hereof) will be made pro rata among the Banks holding Loans of such type according to the respective unpaid principal amounts of such Loans held by such Banks; (iv) each payment and prepayment of principal of or interest on Loans of a particular type will be made to the Agent for the account of the Banks holding Loans of such type pro rata in accordance with the respective unpaid principal amounts of such Loans held by such Banks; and (v) Interest Periods for Loans of a particular type shall be allocated among the Banks holding Loans of such type pro rata according to the respective unpaid principal amounts of such Loans held by such Banks.

Appears in 1 contract

Samples: Loan Agreement (J&j Snack Foods Corp)

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