Common use of Pro Rata Treatment; Sharing of Payments Clause in Contracts

Pro Rata Treatment; Sharing of Payments. (a) All fundings, continuations and conversions of Loans of any Class shall be made by the Lenders pro rata on the basis of their respective Commitments to provide Loans of such Class (in the case of the initial funding of Loans of such Class pursuant to Section 2.2) or on the basis of their respective outstanding Loans of such Class (in the case of continuations and conversions of Loans of such Class pursuant to Section 2.11, and additionally in all cases in the event the Commitments have expired or have been terminated), as the case may be from time to time. All payments on account of principal of or interest on any Loans, fees or any other Obligations owing to or for the account of any one or more Lenders shall be apportioned ratably among such Lenders in proportion to the amounts of such principal, interest, fees or other Obligations owed to them with respect to each Class, respectively.

Appears in 2 contracts

Samples: Credit Agreement (Chartwell Re Corp), Credit Agreement (Chartwell Re Holdings Corp)

AutoNDA by SimpleDocs

Pro Rata Treatment; Sharing of Payments. (a) All fundings, --------------------------------------- continuations and conversions of Revolving Loans of any Class shall be made by the Lenders pro rata on the basis of their respective Commitments to provide Loans of such Class (in the case of the initial funding of Revolving Loans of such Class pursuant to Section SECTION 2.2) or on the basis of their respective outstanding Revolving Loans of such Class (in the case of continuations and conversions of Revolving Loans of such Class pursuant to Section SECTION 2.11, and additionally in all cases in the event the Commitments have expired or have been terminated), as the case may be from time to time. All payments on account of principal of or interest on any Loans, fees or any other Obligations owing to or for the account of any one or more Lenders shall be apportioned ratably among such Lenders in proportion to the amounts of such principal, interest, fees or other Obligations owed to them with respect to each Class, respectively.

Appears in 1 contract

Samples: Credit Agreement (Petersen Companies Inc)

AutoNDA by SimpleDocs

Pro Rata Treatment; Sharing of Payments. (a) All fundings, --------------------------------------- continuations and conversions of Loans of any either Class shall be made by the Lenders pro rata on the basis of their respective Commitments to provide Loans of such Class (in the case of the initial funding of Loans of such Class pursuant to Section SECTION 2.2) or on the basis of their respective outstanding Loans of such Class (in the case of continuations and conversions of outstanding Loans of such Class pursuant to Section 2.11, SECTION 2.9 and additionally in all cases in the event the Commitments to provide Loans of such Class have expired or have been terminated), as the case may be applicable from time to time. All payments on account of principal of or interest on any Loans, fees or any other Obligations owing to or for the account of any one or more Lenders shall be apportioned ratably among such Lenders in proportion to the amounts of such principal, interest, fees or other Obligations owed to them with respect to each Class, respectively.

Appears in 1 contract

Samples: Agreement and the Other Documents (Vesta Insurance Group Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.