Common use of Pro Rata Treatment of Banks Clause in Contracts

Pro Rata Treatment of Banks. Each borrowing shall be allocated to each Bank according to its Ratable Share, and each selection of, conversion to or renewal of any Interest Rate Option and each payment or prepayment by the Borrower with respect to principal, interest, Commitment Fees, Letter of Credit Fees, or other fees (except for the Agent's Fee) or amounts due from the Borrower hereunder to the Banks with respect to the Loans, shall (except as provided in Section 3.4.3 (Agent's and Bank's Rights) in the case of an event specified in Sections 3.4 (LIBO-Rate Unascertainable; Illegality, Increased Costs, Deposits Not Available), 4.4.2 (Replacement of a Bank) or 4.6 (Additional Compensation in Certain Circumstances)) be made in proportion to the applicable Loans outstanding from each Bank and, if no such Loans are then outstanding, in proportion to the Ratable Share of each Bank. Notwithstanding any of the foregoing, each borrowing or payment or prepayment by the Borrower of principal, interest, fees or other amounts from the Borrower with respect to Swing Loans shall be made by or to PNC Bank according to Section 2 (Revolving Credit and Swing Loan Facilities). 4.3

Appears in 2 contracts

Samples: Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc)

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Pro Rata Treatment of Banks. Each borrowing shall be allocated to each Bank according to its Ratable Share, and each selection of, conversion to or renewal of any Interest Rate Option and each payment or prepayment by the Borrower with respect to principal, interest, Commitment Fees, Letter of Credit Fees, or other fees (except for the Agent's Fee) or amounts due from the Borrower hereunder to the Banks with respect to the Loans, shall (except as provided in Section 3.4.3 (Agent's and Bank's Rights) in the case of an event specified in Sections 3.4 (LIBO-Rate Unascertainable; Illegality, Increased Costs, Deposits Not Available), 4.4.2 (Replacement of a Bank) or 4.6 (Additional Compensation in Certain Circumstances)) be made in proportion to the applicable Loans outstanding from each Bank and, if no such Loans are then outstanding, in proportion to the Ratable Share of each Bank. Notwithstanding any of the foregoing, each borrowing or payment or prepayment by the Borrower of principal, interest, fees or other amounts from the Borrower with respect to Swing Loans shall be made by or to PNC Bank according to Section 2 ([Revolving Credit and Swing Loan Facilities)]. 4.3

Appears in 1 contract

Samples: Credit Agreement (Hovnanian Enterprises Inc)

Pro Rata Treatment of Banks. Each borrowing shall be allocated to each Bank according to its Ratable ShareShare (except to the extent provided in Section 2.5.2), and each selection of, conversion to or renewal of any Interest Rate Option and each payment or prepayment by the a Borrower with respect to principal, interest, Revolving Credit Commitment Fees, Letter of Credit Fees, or other fees (except for the Agent's ’s Fee) or amounts due from the such Borrower hereunder to the Banks with respect to the Loans, shall (except as provided in Section 3.4.3 ([Agent's ’s and Bank's ’s Rights) ] in the case of an event specified in Sections Section 3.4 (LIBO[Euro-Rate Unascertainable; Illegality, Increased Costs, Deposits Not Available)Etc.], 4.4.2 (Replacement of a Bank) [Voluntary Prepayments] or 4.6 (4.4 [Additional Compensation in Certain Circumstances)]) be made in proportion to the applicable Loans outstanding from each Bank and, if no such Loans are then outstanding, in proportion to the Ratable Share of each Bank. Notwithstanding any of the foregoing, each borrowing or payment or prepayment by the Borrower Borrowers of principal, interest, fees or other amounts from the Borrower Borrowers with respect to Swing Loans shall be made by or to PNC Bank according to Section 2 (Revolving Credit and Swing Loan Facilities). 4.32.

Appears in 1 contract

Samples: Credit Agreement (Independent Gasoline & Oil Co of Rochester)

Pro Rata Treatment of Banks. Each borrowing shall be allocated to each Bank according to its Ratable Share, and each selection of, conversion to or renewal of any Interest Rate Option and each payment or prepayment by the Borrower with respect to principal, interest, Commitment Fees, Closing Fees, Letter of Credit Fees, or other fees (except for the Agent's Fee) or amounts due from the Borrower hereunder to the Banks with respect to the Loans, shall (except as provided in Section 3.4.3 ([Agent's and Bank's Rights) ] in the case of an event specified in Sections Section 3.4 (LIBO[Euro-Rate Unascertainable; Illegality, Increased Costs, Deposits Not Available)Etc.], 4.4.2 ([Replacement of a Bank) ] or 4.6 (4.5 [Additional Compensation in Certain Circumstances)]) be made in proportion to the applicable Revolving Credit Loans outstanding from each Bank and, if no such Revolving Credit Loans are then outstanding, in proportion to the Ratable Share of each Bank. Notwithstanding any of the foregoing, each borrowing or payment or prepayment pre-payment by the Borrower of principal, interest, fees or other amounts from the Borrower with respect to Swing Loans shall be made by or to PNC Bank according to Section 2 (Revolving Credit and Swing Loan Facilities). 4.32.

Appears in 1 contract

Samples: Credit Agreement (Respironics Inc)

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Pro Rata Treatment of Banks. Each borrowing shall be allocated to each Bank according to its Ratable Share, and each selection of, conversion to or renewal of any Interest Rate Option and each payment or prepayment by the Borrower Borrowers with respect to principal, interest, Commitment Fees, Letter of Credit Fees, or other fees (except for the Administrative Agent's ’s Fee) or amounts due from the Borrower Borrowers hereunder to the Banks with respect to the Loans, shall (except as provided in Section 3.4.3 (Agent's and Bank's Rights) 3.4.2 [Illegality; Increased Costs; Deposits not Available] in the case of an event specified in Sections 3.4 (LIBOSection 3.4.1 [Euro-Rate Unascertainable; Illegality], Increased Costs, Deposits Not Available), 4.4.2 (Replacement of a Bank) 4.4 [Voluntary Prepayments and Commitment Reductions] or 4.6 (4.5 [Additional Compensation in Certain Circumstances)]) be made in proportion to the applicable Loans outstanding from each Bank and, if no such Loans are then outstanding, in proportion to the Ratable Share of each Bank. Notwithstanding any of the foregoing, each borrowing or payment payment, repayment or prepayment by the Borrower Borrowers of principal, interest, fees or other amounts from the Borrower Borrowers with respect to Swing Loans shall be made by or to PNC Bank according to Section 2 (Revolving Credit and Swing Loan Facilities). 4.32.9.

Appears in 1 contract

Samples: Credit Agreement (Triumph Group Inc /)

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