Common use of Pro Rata Treatment of Loans, Etc Clause in Contracts

Pro Rata Treatment of Loans, Etc. Except to the extent otherwise provided: (a) each Borrowing under SECTION 2.04 shall be made from the Banks, each reduction or termination of the amount of the Commitments under SECTION 2.07 or SECTION 2.15 shall be applied to the Commitments of the Banks, and each payment of commitment fee accruing under SECTION 2.11 shall be made for the account of the Banks, pro rata according to the amounts of their respective Commitments; (b) each conversion under SECTION 2.05 of Loans of a particular type (but not conversions provided for by SECTION 3.04), shall be made pro rata among the Banks holding Loans of such type according to the respective principal amounts of such Loans by such Banks; (c) each prepayment and payment of principal of or interest on Loans of a particular type and a particular Interest Period shall be made to the Agent for the account of the Banks holding Loans of such type and Interest Period pro rata in accordance with the respective unpaid principal amounts of such Loans of such Interest Period held by such Banks; and (d) any "Proceeds" (as defined in the Intercreditor Agreement), available for distribution to the Banks pursuant to the Intercreditor Agreement shall be distributed to each Bank according to the Percentage Interest of such Bank, as described in the Intercreditor Agreement.

Appears in 1 contract

Samples: Credit Agreement (Seneca Foods Corp /Ny/)

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Pro Rata Treatment of Loans, Etc. Except to the extent otherwise provided: (a) each Borrowing borrowing under SECTION Section 2.04 shall be made from the Banks, each reduction or termination of the amount of the Commitments under SECTION Section 2.07 or SECTION 2.15 shall be applied to the Commitments of the BanksBanks (except as otherwise provided under Section 2.14), and each payment of commitment fee accruing under SECTION Section 2.11 shall be made for the account of the Banks, pro rata according to the amounts of their respective unused Commitments; (b) each conversion under SECTION Section 2.05 of Loans of a particular type (but not conversions provided for by SECTION 3.04Section 4.04), shall be made pro rata among the Banks holding Loans of such type according to the respective principal amounts of such Loans by such Banks; (c) each prepayment and payment of principal of or interest on Loans of a particular type type, particular class and a particular Interest Period shall be made to the Administrative Agent for the account of the Banks holding Loans of such type and Interest Period pro rata in accordance with the respective unpaid principal amounts of such Loans of such Interest Period held by such Banks; and (d) any "Proceeds" (as defined each prepayment and payment of fees under Section 3.09(a) and Letter of Credit Obligations shall be made pro rata in accordance with the pro rata share of the Banks in the Intercreditor Agreement), available for distribution to the Banks pursuant to the Intercreditor Agreement shall be distributed to Letter of Credit Obligations held by each Bank according to the Percentage Interest of such Bank, as described in the Intercreditor Agreementthem.

Appears in 1 contract

Samples: Credit Agreement (Multicare Companies Inc)

Pro Rata Treatment of Loans, Etc. Except to the extent otherwise provided: (a) each Borrowing under SECTION 2.04 Section 2.7 shall be made from the Banks, each reduction or termination of the amount of the Revolving Credit Commitments under SECTION 2.07 or SECTION 2.15 Section 2.10 shall be applied to the Revolving Credit Commitments of the Banks, and each payment of commitment fee facility fees accruing under SECTION 2.11 Section 2.14 shall be made for the account of the Banks, pro rata according to the amounts of their respective used and unused Revolving Credit Commitments; (b) each conversion under SECTION 2.05 Section 2.8 of Loans of a particular type (but not conversions provided for by SECTION 3.04Section 4.4), shall be made pro rata among the Banks holding Loans of such type according to the respective principal amounts of such Loans by such Banks; (c) each prepayment and payment of principal of or interest on Loans of a particular type and a particular Interest Period shall be made to the Administrative Agent for the account of the Banks holding Loans of such type and Interest Period pro rata in accordance with the respective unpaid principal amounts of such Loans of such Interest Period held by such Banks; and (d) if, pursuant to Section 10.2, the Commitments are duly terminated and all amounts owing under this Agreement, the Notes and the Letters of Credit become due and payable, then each payment of principal of or interest on the Loans (whether by voluntary payment, by realization upon security, by the enforcement of any "Proceeds" (as defined in right under the Intercreditor Agreement), available for distribution Facility Documents or otherwise) shall be made to the Administrative Agent for the account of the Banks pursuant to holding Loans pro rata in accordance with the Intercreditor Agreement shall be distributed to each Bank according to the Percentage Interest respective unpaid principal and interest amounts of such Bank, as described in the Intercreditor AgreementLoans held by such Banks.

Appears in 1 contract

Samples: Credit Agreement (Cannondale Corp /)

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Pro Rata Treatment of Loans, Etc. Except to the extent otherwise provided: (a) each Borrowing borrowing under SECTION 2.04 Section 2.01 shall be made -77- 85 from the BanksLenders, each reduction or termination of the amount of the Commitments under SECTION 2.07 or SECTION 2.15 Section 2.08 shall be applied to the Commitments of the BanksLenders, and each payment of commitment fee accruing under SECTION 2.11 Section 2.12(a) shall be made for the account of the BanksLenders, pro rata according to the amounts of their respective unused Commitments; (b) each conversion under SECTION Section 2.05 of Loans of a particular type (but not conversions provided for by SECTION 3.04Section 4.04), shall be made pro rata among the Banks Lenders holding Loans of such type according to the respective principal amounts of such Loans by such BanksLenders; (c) each prepayment and payment of principal of or interest on Loans of a particular type type, a particular class and a particular Interest Period shall be made to the Administrative Agent for the account of the Banks Lenders holding Loans of such type type, class and Interest Period pro rata in accordance with the respective unpaid principal amounts of such Loans of such type, class and Interest Period held by such BanksLenders; and (d) any "Proceeds" (as defined each prepayment and payment of fees under Section 3.09(a) and Letter of Credit Obligations shall be made pro rata in accordance with the pro rata share of the Lenders in the Intercreditor Agreement), available for distribution to the Banks pursuant to the Intercreditor Agreement shall be distributed to Letter of Credit Obligations held by each Bank according to the Percentage Interest of such Bank, as described in the Intercreditor Agreementthem.

Appears in 1 contract

Samples: Credit Agreement (LCC International Inc)

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