Common use of Pro Rata Treatment Clause in Contracts

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 5 contracts

Samples: Senior Secured Revolving Credit Agreement (MONROE CAPITAL Corp), Credit Agreement (MONROE CAPITAL Corp), Senior Secured Revolving Credit Agreement (MONROE CAPITAL Corp)

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Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Syndicated Borrowing of a Class shall be made from the Lenders of such ClassClass of Commitments, each payment of commitment fee under Section 2.09 2.11 shall be made for the account of the Lenders pro rata according to the average daily unutilized amounts of the applicable Classrespective Class of Commitments, and each termination or reduction of the amount of the Commitments of a Class of Commitments under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such ClassClass of Commitments, pro rata according to the amounts of their respective Commitments of such ClassClass of Commitments; (ii) each Syndicated Borrowing of a Class of Commitments shall be allocated pro rata among the Lenders of such Class of Commitment according to the amounts of their respective Commitments of such Class (in the case of the making of Syndicated Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Syndicated Loans of a Class of Commitments by the Borrower shall be made for the account of the Lenders of such Class of Commitments pro rata in accordance with the respective unpaid principal amounts of the Syndicated Loans of such Class of Commitments held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (iv) each payment of interest on Syndicated Loans of a Class of Commitments by the Borrower shall be made for the account of the Lenders of such Class of Commitments pro rata in accordance with the amounts of interest on such Loans of such Class of Commitments then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 4 contracts

Samples: Senior Secured Revolving Credit Agreement (Varagon Capital Corp), Guarantee and Security Agreement (Bain Capital Specialty Finance, Inc.), Revolving Credit Agreement (Bain Capital Private Credit)

Pro Rata Treatment. Except (a) with respect to an assignment of Term Loans to Intermediate Holdings, the Borrower or a Subsidiary pursuant to Section 9.04(l), (b) with respect to extensions of the Term Loan Maturity Date or the Revolving Credit Maturity Date as provided in Section 2.27, (c) with respect to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account prepayment in full of the Lenders of the applicable Class, Loans and each termination or reduction of the amount of the Commitments of a Class non-consenting Lender as provided in Section 2.21, and (d) as provided below in this Section 2.17 with respect to Swingline Loans, subject to the express provisions of this Agreement which require, or permit, differing payments to be made to Non-Defaulting Lenders as opposed to Defaulting Lenders, and as required under Section 2.062.15, Section 2.08 each Borrowing, each payment or otherwise shall be applied to prepayment of principal of any Borrowing, each payment of interest on the respective Commitments Loans, each payment of the Lenders Commitment Fees, each reduction of such Class, pro rata according the Term Loan Commitments or the Revolving Credit Commitments and each conversion of any Borrowing to the amounts or continuation of their respective Commitments of such Class; (ii) each any Borrowing as a Borrowing of a Class any Type shall be allocated pro rata among the Lenders according to in accordance with their respective applicable Commitments (or, if such Commitments shall have expired or been terminated, in accordance with the respective principal amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of outstanding Loans), subject to Section 2.02(e); (iii) each payment or prepayment . For purposes of principal of Loans of a Class by determining the Borrower shall be made for account available Revolving Credit Commitments of the Lenders at any time, each outstanding Swingline Loan shall be deemed to have utilized the Revolving Credit Commitments of such Class the Lenders (including those Lenders which shall not have made Swingline Loans) pro rata in accordance with the such respective unpaid principal amounts Revolving Credit Commitments. Each Lender agrees that in computing such Lender’s portion of the Loans of such Class held by them (and, with respect any Borrowing to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with hereunder, the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained hereinAdministrative Agent may, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilizedits discretion, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds round each Lender’s percentage of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the next higher or lower whole Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyamount.

Appears in 4 contracts

Samples: Credit Agreement (Advanced Disposal Services, Inc.), Senior Secured Credit Agreement (ADS Waste Holdings, Inc.), Senior Secured Credit Agreement (Advanced Disposal Services Glacier Ridge Landfill, LLC)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section Sections 2.08(e) and (f)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 4 contracts

Samples: Senior Secured (THL Credit, Inc.), Senior Secured (THL Credit, Inc.), Senior Secured Revolving Credit Agreement (Medley Capital Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Syndicated Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 2.11 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Syndicated Borrowing of a Class shall be allocated pro rata among the Lenders of such Class according to the amounts of their respective Commitments of such Class (in the case of the making of Syndicated Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Syndicated Loans of a Class by the Borrower shall be made for account of the Syndicated Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Syndicated Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (iv) each payment of interest on Syndicated Loans of a Class by the Borrower shall be made for account of the Syndicated Lenders of such Class pro rata in accordance with the amounts of interest on such Syndicated Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything (v) each payment or prepayment of principal of Term Loans by the Borrower shall be made for the account of the Term Lenders pro rata in accordance with the respective unpaid principal amount of the Term Loans held by them; and (vi) each payment of interest on Term Loans by the Borrower shall be made for account if the Term Lenders pro rata in accordance with the amounts of interest on such Term Loans then due and payable to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyTerm Lenders.

Appears in 4 contracts

Samples: Senior Secured Credit Agreement (SLR Investment Corp.), Form Of (SLR Investment Corp.), Senior Secured Credit Agreement (Solar Capital Ltd.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from the applicable Lenders under Section 2.1(b) and Section 2.2(e) shall be made from the applicable Lenders of such Class, in accordance with their applicable Revolving Credit Commitments and each payment of commitment fee the Fees under Section 2.09 3.6(a) and the first sentence of Section 3.6(b) shall be made for the account of the Revolving Credit Lenders of the in accordance with their applicable ClassRevolving Credit Commitments, and each termination or reduction of the amount of the Revolving Credit Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.10 shall be applied to the respective Revolving Credit Commitments of in accordance with the Lenders of such Class, pro rata according to the amounts amount of their respective Commitments of such Classapplicable Revolving Credit Commitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Credit Loans of a Class by the Borrower shall be made for the account of the Revolving Credit Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the applicable Loans of such Class held by them (andsuch Lenders, with provided that if immediately prior to giving effect to any such payment in respect to of any Loans the outstanding principal amount of the Revolving Credit Loans shall not be held by the applicable Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Revolving Credit Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Loans being held by the applicable Lenders pro rata in accordance with their respective applicable Commitments; and (ivc) each payment of interest on the Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; (d) the making, Conversion and Continuation of Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 4.6) shall be made pro rata among the Lenders according to the contrary contained herein, amounts of their respective Commitments (in the event that case of making of Loans) or their respective Loans (in the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency case of Conversions and Continuations of Loans) and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds then current Interest Period for each Lender’s portion of each Loan of such Borrowing to prepay Type shall be coterminous; and (e) the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result Revolving Credit Lenders’ participation in, and payment obligations in respect of, Letters of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing Credit under Section 2.2, shall be pro rata in an Agreed Foreign Currencyaccordance with their respective Revolving Credit Commitments.

Appears in 4 contracts

Samples: And Consolidated Credit Agreement (Epr Properties), And Consolidated Credit Agreement (Epr Properties), And Consolidated Credit Agreement (Epr Properties)

Pro Rata Treatment. Except to the extent otherwise provided herein: as required under Sections 2.15 and 2.21, (ia) each payment or prepayment of principal of any Standby Borrowing, each refinancing or conversion of any Standby Borrowing with a Standby Borrowing of a Class shall be made from the Lenders of such Class, any Type and each payment of commitment fee under Section 2.09 shall be made for account of interest on the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Standby Loans comprising any Standby Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans made by them as part of such Class held by them Borrowing, (and, with respect b) each payment to the reimburse Lenders’ participations in LC Disbursements shall be allocated pro rata treatment of prepayments between Classes, any such prepayments shall be made among the Lenders in accordance with the provisions respective amounts of Section 2.08(e)); and their participations in such LC Disbursements, (ivc) each payment of interest on Loans the Facility Fees and each reduction of a Class by the Borrower Commitments shall be made for account allocated pro rata among the Lenders in accordance with their respective Commitments, (d) each payment of the Lenders LC Participation Fees shall be allocated pro rata among the Lenders in accordance with their respective LC Exposures pursuant to the terms of Section 2.07(c), and (e) each payment of the Usage Fees shall be allocated pro rata among the Lenders in accordance with the amounts of their respective Loans and LC Exposures. Each payment of principal of any Competitive Borrowing shall be allocated pro rata among the Lenders participating in such Borrowing in accordance with the respective principal amounts of their outstanding Competitive Loans comprising such Borrowing. Each payment of interest on any Competitive Borrowing shall be allocated pro rata among the Lenders participating in such Loans of such Class then due and payable to Borrowing in accordance with the respective Lenders; provided however thatamounts of accrued and unpaid interest on their outstanding Competitive Loans comprising such Borrowing. Each Lender agrees that in computing such Lender’s portion of any Borrowing to be made hereunder, notwithstanding anything to the contrary contained hereinAdministrative Agent may, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilizedits discretion, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds round each Lender’s percentage of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the next higher or lower whole Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyamount.

Appears in 3 contracts

Samples: Credit Facility Agreement (Hartford Financial Services Group Inc/De), Credit Facility Agreement (Hartford Life Inc), Credit Facility Agreement (Hartford Financial Services Group Inc/De)

Pro Rata Treatment. Except for Swingline Loans and to the extent otherwise provided hereinherein each Lender agrees that: (i) each Borrowing of a Class borrowing from the Revolving Credit Lenders under Section 2.01(a) and each continuation and conversion under Section 2.02 shall be made from the Revolving Credit Lenders of such Classpro rata in accordance with their Revolving Credit Percentage Share, each payment of commitment fee fees under Section 2.09 2.05(a) and Section 2.05(b)(i) shall be made for account of the Revolving Credit Lenders of the applicable Classpro rata in accordance with their Revolving Credit Percentage Share, and each termination or reduction of the amount of the Commitments of a Class Aggregate Maximum Revolving Credit Amounts under Section 2.06, Section 2.08 or otherwise 2.04(b) shall be applied to the respective Commitments Revolving Credit Commitment of the Lenders of such Classeach Revolving Credit Lender, pro rata according to the amounts of their its respective Commitments of such ClassRevolving Credit Commitment; (ii) the Term Loans made under Section 2.01(b) and each Borrowing of a Class continuation and conversion thereof under Section 2.02 shall be allocated made from the Term Lenders pro rata among by each Term Lender in accordance with the Lenders according amount that such Term Lender’s Term Loan bears to the amounts amount of their respective Commitments of such Class (in the case of the making of all Term Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Revolving Credit Loans of a Class by the Borrower Borrowers shall be made for account of the Revolving Credit Lenders of such Class pro rata in accordance with the respective unpaid principal amounts amount of the Revolving Credit Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))Revolving Credit Lenders; and (iv) each payment of interest on principal of Term Loans of a Class by the Borrower Borrowers shall be made for account of the Term Lenders pro rata in accordance with the respective unpaid principal amount of the Term Loans held by the Term Lenders; (v) each payment of interest on Revolving Credit Loans by the Borrowers shall be made for account of the Revolving Credit Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Revolving Credit Lenders; provided however that, notwithstanding anything (vi) each payment of interest on Term Loans by the Borrowers shall be made for account of the Term Lenders pro rata in accordance with the amounts of interest due and payable to the contrary contained hereinrespective Term Lenders; and (vii) each reimbursement by the Borrowers of disbursements under Letters of Credit shall be made for account of the Issuing Bank or, if funded by the Revolving Credit Lenders, pro rata for the account of the Revolving Credit Lenders, in accordance with the event that the Borrower wishes amounts of reimbursement obligations due and payable to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyeach respective Revolving Credit Lender.

Appears in 3 contracts

Samples: Credit Agreement (NPC Restaurant Holdings, LLC), Credit Agreement (NPC Restaurant Holdings, LLC), Franchise Agreement (NPC Operating Co B, Inc.)

Pro Rata Treatment. Except to All Loans under, and all payments and other amounts received in connection with, this Agreement (including, without limitation, amounts received as a result of the extent otherwise provided herein: (i) each Borrowing exercise by any Lender of a Class any right of set-off), shall be made from effectively shared by the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata ratably in accordance with the respective unpaid principal amounts Pro Rata Percentages of the Loans Lenders. If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) on account of the principal of, or interest on, or fees in respect of, any amount due to such Class held Lender under this Agreement (other than pursuant to Section 2.3(b), 2.5(a), 10.20, 10.21 or 10.22, the normal and customary processing fees charged by them (andan Issuer in connection with the Issuance of or drawings under a Letter, or with respect to Bank Products Obligations as provided by Section 10.14) in excess of its Pro Rata Percentage of payments on account of similar amounts due to all the pro rata treatment of prepayments between ClassesLenders, any such prepayments Lender shall purchase from the other Lenders such participation in such amounts due to them as shall be made in accordance necessary to cause such purchasing Lender to share the excess payment ratably with the provisions each of Section 2.08(e))them; and (iv) provided however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, such purchase from each payment of interest on Loans of a Class by the Borrower Lender shall be made for account of the Lenders pro rata in accordance with the amounts of interest on rescinded and such Loans of such Class then due and payable Lender shall repay to the respective Lenders; provided however that, notwithstanding anything to purchasing Lender the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely purchase price to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment recovery together with an amount equal to make such Lender’s ratable share (subject according to the terms proportion of (a) the amount of such Lender’s required repayment to (b) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered. Disproportionate payments of interest shall be shared by the purchase of separate participation in unpaid interest obligations, disproportionate payments of fees shall be shared by the purchase of separate participation in unpaid fee obligations, and conditions contained hereindisproportionate payments of principal shall be shared by the purchase of separate participation in unpaid principal obligations. Borrower agrees that any Lender so purchasing a participation from another Lender pursuant to this Section 10.28 may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such Lender were the direct creditor of Borrower in the amount of such participation. Notwithstanding the foregoing, a Multicurrency Borrowing Lender may receive and retain an amount in an Agreed Foreign Currencyexcess of its Pro Rata Percentage to the extent, but only to the extent, that such excess results from such Lender’s Highest Lawful Rate exceeding another Lender’s Highest Lawful Rate.

Appears in 3 contracts

Samples: Loan Agreement (Andersons, Inc.), Loan Agreement (Andersons Inc), Loan Agreement (Andersons Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class Advance shall be made from by the Lenders of such Classunder Section 2.1, each payment of commitment the Commitment Fee under Section 2.9, each payment of the Letter of Credit fee under Section 2.09 3.5 (except as provided therein) shall be made for the account of the Lenders of the applicable ClassLenders, and pro rata according to their respective Revolving Credit Commitments; (b) each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.11 shall be applied to the respective Revolving Credit Commitments of the Lenders of such ClassLenders, pro rata according to the respective Revolving Credit Commitments; (c) the making, Conversion, and Continuation of Advances of a particular Type (other than Conversions provided for by Section 5.4) shall be made pro rata among the Lenders holding Advances of such Type according to the amounts of their respective Commitments of such ClassRevolving Credit Commitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiid) each payment or and prepayment of principal of Loans of a Class or interest on Advances by the Borrower or any Obligated Party of a particular Type of Loan shall be made to the Agent for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans such Advances of such Class Revolving Credit Loan held by them such Lenders; (ande) any and all other monies received by the Agent from any source other than pursuant to any of clauses (a) through (d) hereinabove (including, with respect without limitation, from the Borrower or any Guarantor) to be applied first against the Primary Obligations and shall be for the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); benefit and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders based upon each Lender's aggregate outstanding Advances of all Types and LC Participations and SL Participations to the aggregate outstanding Advances of all Types and LC Participations and SL Participations of all Lenders and then against the Secondary Obligations and shall be for the pro rata benefit and account of the Lenders based upon their respective unpaid amounts of the Secondary Obligations; and (f) the Lenders shall purchase from the Issuing Bank and the Swing Lender pursuant to Section 3.1 and Section 2.7 respectively, participations in the Letters of Credit and the related Letter of Credit Liabilities and the Swing Loans respectively, pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencytheir Revolving Credit Commitments.

Appears in 3 contracts

Samples: Credit Agreement (Ezcorp Inc), Credit Agreement (Ezcorp Inc), Credit Agreement (Ezcorp Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: , (i) each Borrowing of a Class shall be made from the Lenders of such Classrelevant Lenders, each payment of commitment fee Commitment Fees under Section 2.09 shall be made for account of the relevant Lenders of the applicable Class, and each termination or reduction of the amount of the Revolving Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.06 shall be applied to the respective Revolving Commitments of the Lenders of such Classrelevant Lenders, pro rata according to the amounts of their respective Commitments Term Percentages, US Revolving Percentages or Multicurrency Revolving Percentages or their respective shares of such Classany Incremental Facility, as the case may be; (ii) (A) each Term Borrowing of a Class shall be allocated pro rata among the Term Lenders according to the amounts of their respective Commitments Term Percentages or their respective shares of such Class any Incremental Facility or their respective Term Loans under the applicable Facility (in the case of continuations of Term Loans) and (B) each Revolving Borrowing shall be allocated pro rata among the Revolving Lenders according to the amounts of their respective US Revolving Percentages or Multicurrency Revolving Percentages (in the case of the making of Revolving Loans) ), or their respective Revolving Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Revolving Loans), subject to Section 2.02(e)) as applicable; (iii) (A) each payment or prepayment of principal of Term Loans of a Class by the Borrower shall be made for account of the Term Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Term Loans of such Class held by them under the applicable Facility; provided that any prepayment of the Term Loans under Section 2.08(a), (and, with respect to the b) or (c) shall be applied on a pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); basis to all Term Loans currently outstanding and (ivB) each payment or prepayment of interest on principal of Revolving Loans of a Class by the Borrower shall be made for account of the applicable Revolving Lenders pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans held by them and (iv) (A) each payment of interest on Term Loans by the Company shall be made for account of the Term Lenders pro rata in accordance with the amounts of interest on such the Term Loans of such Class under the applicable Facility then due and payable to such Term Lenders and (B) each payment of interest on Revolving Loans shall be made for account of the respective applicable Revolving Lenders pro rata in accordance with the amounts of interest on the Revolving Loans then due and payable to such Revolving Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 3 contracts

Samples: Credit Agreement (Corelogic, Inc.), Credit Agreement (Corelogic, Inc.), Credit Agreement (Corelogic, Inc.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 2.07 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.062.08, Section 2.08 2.09 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of LoansAdvances) or their respective Loans Advances of such Class that are to be included in such Borrowing (in the case of conversions and continuations of LoansAdvances), subject to in accordance with the provisions of Section 2.02(e2.02(h); (iii) each payment or prepayment of principal of Loans Advances of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans Advances of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)Sections 2.10 and 2.11); and (iv) each payment of interest on Loans Advances of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the amounts of interest on such Loans Advances of such Class then due and payable to the respective Lenders; provided provided, however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and at a time when there are Advances in Dollars outstanding under the Multicurrency Commitments are fully utilizedCommitments, the Borrower may make a Borrowing under the Dollar Revolver Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans Advances (without making a ratable prepayment to the Dollar LoansRevolver Advances) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 3 contracts

Samples: Credit Agreement (Triangle Capital CORP), Credit Agreement (Triangle Capital CORP), Credit Agreement (Triangle Capital CORP)

Pro Rata Treatment. Except If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise of set-off or otherwise) on account of the Loans made by it (other than pursuant to Sections 2.4, 2.6, 2.11 or 2.12), then, if there is any Unreimbursed Amount outstanding in respect of which the Issuing Lender has not received payment in full from such Lender pursuant to Section 2.4(c) (the amount of such Unreimbursed Amount being such Revolving Credit Lender’s “LC Deficiency Amount”) or if there is any Swing Loan outstanding in respect of which, pursuant to Section 2.6(d)(i) or (ii), the Swing Loan Lender has not received payment in full from such Lender pursuant to Section 2.6(d)(i) or (ii) (the amount of such Swing Loan being such Lender’s “SL Deficiency Amount”), such Lender shall both (a) purchase a participation in such Unreimbursed Amount in an amount equal to the amount obtained by multiplying the amount of such payment obtained by such Lender (the “Payment Amount”) by a fraction, the numerator of which is such LC Deficiency Amount and the denominator of which is the sum of such LC Deficiency Amount plus such SL Deficiency Amount (such sum being the “Aggregate Deficiency” with respect to such Payment Amount), and (b) purchase a participation in such Swing Loan in an amount equal to the amount obtained by multiplying such Payment Amount by a fraction, the numerator of which is such SL Deficiency and the denominator of which is such Aggregate Deficiency. If, after giving effect to the foregoing, any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans (or participations in LC Disbursements) (other than pursuant to Sections 2.4, 2.6, 2.11 or 2.12), resulting in such Lender receiving payment of a greater proportion of the aggregate principal amount of its Loans (and participations in LC Disbursements) and accrued interest thereon than the proportion of such amounts received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans (and LC Disbursements) of the other Lenders to the extent otherwise provided herein: (i) each Borrowing necessary so that the benefit of a Class such payments shall be made from shared by all the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata ratably in accordance with the aggregate amount of principal of and accrued interest on their respective unpaid principal amounts Loans (and participations in LC Disbursements); provided that (i) if any such participations are purchased and all or any portion of the Loans payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such Class held recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment obtained by them a Lender as consideration for the assignment of or sale of a participation in any of its Loans (andor participations in LC Disbursements) to any assignee or participant, other than to any Credit Party or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to the pro rata treatment such participation as fully as if such Lender were a direct creditor of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of in the Lenders pro rata in accordance with the amounts of interest on such Loans amount of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyparticipation.

Appears in 3 contracts

Samples: Credit and Security Agreement (Ameresco, Inc.), Credit and Security Agreement (Ameresco, Inc.), Credit and Security Agreement (Ameresco, Inc.)

Pro Rata Treatment. Except to the extent as expressly otherwise provided herein: (i) , each Borrowing borrowing of a Class shall be made Loans by the Borrower from the Lenders of such Classhereunder shall be made, each payment (except as provided in Section 2.22(a)) by the Borrower on account of any commitment fee under Section 2.09 shall be made for account in respect of the Lenders of the applicable ClassCommitments hereunder and any reduction (except as provided in Section 2.15, and each termination 2.21(a), 2.22, 2.24, 2.25, 2.26, 10.08(f) or reduction of the amount 10.08(i)) of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise the Lenders shall be applied to allocated by the respective Commitments of the Lenders of such ClassAdministrative Agent, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account Revolving Commitment Percentages of the Lenders (other than payments in respect of any difference in the Commitment Fee in respect of any Tranche); provided that, at the request of the Borrower, in lieu of such Class application on a pro rata in accordance with basis among all Commitments, such reduction may be applied to any Commitments so long as the respective unpaid principal amounts of the Loans Maturity Date of such Class held by them (and, with respect to Commitments precedes the pro rata treatment Maturity Date of prepayments between Classes, any such prepayments shall be made in accordance with the provisions each other Tranche of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class Commitments then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained hereinoutstanding or, in the event more than one Tranche of Commitments shall have an identical Maturity Date that precedes the Maturity Date of each other Tranche of Commitments then outstanding, to such Tranches on a pro rata basis. Each payment (including each prepayment, but excluding payments made pursuant to Sections 2.15, 2.20, 2.21(a), 2.22, 2.24, 2.25, 2.26, 10.05, 10.08(f) or 10.08(i)) by the Borrower wishes on account of principal of and interest on any Tranche of Loans (other than payments in respect of any difference in the interest accruing in respect of any Tranche) shall be allocated by the Administrative Agent pro rata according to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds respective outstanding principal amounts of such Borrowing to prepay Tranche then held by the Multicurrency Loans respective Lenders (without making a ratable prepayment to or as otherwise provided in the Dollar Loansapplicable Incremental Commitment Amendment, Extension Amendment or Specified Refinancing Amendment, if applicable). This Section 2.17 may be amended in accordance with Section 10.08(g) solely to the extent that the Borrower concurrently utilizes necessary to reflect differing amounts payable, and priorities of payments, to Lenders participating in any Multicurrency Commitments made available new Tranches added pursuant to Sections 2.24, 2.25, 2.26, 10.08(e) and 10.08(i), as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyapplicable.

Appears in 3 contracts

Samples: Credit Agreement (Warner Music Group Corp.), Credit Agreement (Warner Music Group Corp.), Credit Agreement (Warner Music Group Corp.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.062.07, Section 2.08 2.09 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders of such Class according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment of commitment fees under Section 2.10 shall be made for the account of the Lenders pro rata according to the average daily unutilized amounts of their respective Commitments; (iv) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders or such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them; and (v) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however provided, however, that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower substantially concurrently therewith utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.. (d)

Appears in 3 contracts

Samples: Secured Revolving Credit Agreement (Barings Capital Investment Corp), Revolving Credit Agreement (Barings BDC, Inc.), Secured Revolving Credit Agreement (Barings BDC, Inc.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 2.10 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.062.07, Section 2.08 2.09 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of the last paragraph of Section 2.08(e2.09(d) and Sections 2.09(e) and (f)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 3 contracts

Samples: Secured Revolving Credit Agreement (FS Investment CORP), Senior Secured (FS Investment CORP), Credit Agreement (FS Investment Corp II)

Pro Rata Treatment. (a) Except to the extent otherwise provided herein: (i) each Borrowing of a Class borrowing from the Lenders under Section 2.1(a) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the Fees under Section 2.09 3.6(a), Section 3.6(b)(ii) and Section 3.6(d) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.13 shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing payment or prepayment of principal of Revolving Loans by the Borrower shall be made for the account of the Lenders pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans held by them, provided that if immediately prior to giving effect to any such payment in respect of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata in accordance with their respective Commitments in effect at the time such Revolving Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitments; (iii) each payment of interest on Revolving Loans by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amount of interest on such Revolving Loans then due and payable to the respective Lenders; (iv) the making, Conversion and Continuation of Revolving Loans of a Class particular Type (other than Conversions provided for by Section 4.6) shall be allocated made pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Revolving Loans) or their respective Revolving Loans of such Class that are to be included in such Borrowing (in the case of conversions Conversions and continuations Continuations of Revolving Loans), subject to Section 2.02(e)) and the then current Interest Period for each Lender’s portion of each Revolving Loan of such Type shall be coterminous; (iiiv) each the Lenders’ participation in, and payment or prepayment obligations in respect of, Letters of principal of Loans of a Class by the Borrower Credit under Section 2.4, shall be made for account of the Lenders of such Class pro rata in accordance with the their respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))Commitments; and (ivvi) each the Lenders’ participation in, and payment of interest on obligations in respect of, Swingline Loans of a Class by the Borrower under Section 2.2, shall be made for account of the Lenders pro rata in accordance with their respective Commitments. All payments of principal, interest, fees and other amounts in respect of the amounts Swingline Loans shall be for the account of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments Swingline Lender only (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely except to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as Lender shall have acquired a result of participating interest in any such prepayment Swingline Loan pursuant to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencySection 2.2(e)).

Appears in 3 contracts

Samples: Credit Agreement (Columbia Property Trust, Inc.), Credit Agreement (Columbia Property Trust, Inc.), Credit Agreement (Wells Real Estate Investment Trust Ii Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ii)(x) other than with respect to any Syndicated Borrowing requested pursuant to Section 2.21(a)(i), each Syndicated Borrowing of a Class shall be made from the Lenders of such ClassClass of Commitment, (y) other than the payment of a commitment fee to a Non-Extending Lender on the earlier of the date its Commitments terminate and its applicable Non-Extended Commitment Termination Date, each payment of commitment fee under Section 2.09 2.11 shall be made for account of the Lenders of the applicable Class, and (z) other than with respect to any termination or reduction of Commitments or prepayment of Loans in accordance with Section 2.08(f), each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, in each case pro rata according to the amounts of their respective Commitments of such Class; (ii) other than with respect to any Syndicated Borrowing requested pursuant to Section 2.21(a)(i) each Syndicated Borrowing of a Class shall be allocated pro rata among the Lenders of such Class according to the amounts of their respective Commitments of such Class (in the case of the making of Syndicated Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) other than in connection with a termination or reduction of Commitments or prepayment of Loans in accordance with Section 2.08(f), the payment of a Non-Extending Lender’s Non-Extended Loans on such Non-Extending Lender’s Non-Extended Final Maturity Date pursuant to Section 2.09(a) or a mandatory prepayment pursuant to Section 2.10(d), each payment or prepayment of principal of Syndicated Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Syndicated Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (iv) other than the payment of interest to a Non-Extending Lender on the earlier of the date its Commitments terminate and its applicable Non-Extended Final Maturity Date, each payment of interest on Syndicated Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything . Each Syndicated Borrowing requested pursuant to Section 2.21(a)(i) shall be made from each Extending Lender and Non-Extending Lender for which the Non-Extending Commitment Termination Date shall not have occurred on a pro rata basis according to the contrary contained hereinamounts of their respective Commitments. Any termination or reduction of Commitments or prepayment of Loans made in accordance with Section 2.08(f) (including any payment or prepayment of principal of Syndicated Loans in connection therewith), in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment shall be applied to the Dollar applicable Non-Extending Lender(s) on a pro rata basis according to the amounts of their respective Commitments or Loans, as applicable. Any payment of Non-Extended Loans on a Non-Extended Final Maturity Date pursuant to Section 2.09(a) shall be made for the account of each Non-Extending Lender for which the applicable Non-Extended Final Maturity Date shall have occurred pro rata in accordance with the respective unpaid principal amounts of the Non-Extended Loans held by them and any mandatory prepayment of Non-Extended Loans pursuant to Section 2.10(d) shall be made for account of each Non-Extending Lender for which the applicable Non-Extended Commitment Termination Date shall have occurred pro rata in accordance with the respective unpaid principal amounts of the Non-Extended Loans held by them. For the avoidance of doubt, no payments shall be allocated solely to Non-Extending Lenders following the extent that occurrence and during the Borrower concurrently utilizes continuance of a Default or Event of Default or at any Multicurrency Commitments made available as a result of time the Borrowing Base exceeds the Covered Debt Amount plus the Net Revolving Exposure at such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencytime.

Appears in 2 contracts

Samples: Joinder Agreement (AG Twin Brook Capital Income Fund), Secured Revolving Credit Agreement (AG Twin Brook Capital Income Fund)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class borrowing from the Lenders under Section 2.1(a) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the Fees under Section 2.09 3.6(a), Section 3.6(b)(ii) and Section 3.6(d) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.13 shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing payment or prepayment of principal of Revolving Loans by the Borrower shall be made for the account of the Lenders pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans held by them, provided that if immediately prior to giving effect to any such payment in respect of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata in accordance with their respective Commitments in effect at the time such Revolving Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitments; (iii) each payment of interest on Revolving Loans by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amount of interest on such Revolving Loans then due and payable to the respective Lenders; (iv) the making, Conversion and Continuation of Revolving Loans of a Class particular Type (other than Conversions provided for by Section 4.6) shall be allocated made pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Revolving Loans) or their respective Revolving Loans of such Class that are to be included in such Borrowing (in the case of conversions Conversions and continuations Continuations of Revolving Loans), subject to Section 2.02(e)) and the then current Interest Period for each Lender’s portion of each Revolving Loan of such Type shall be coterminous; (iiiv) each the Lenders’ participation in, and payment or prepayment obligations in respect of, Letters of principal of Loans of a Class by the Borrower Credit under Section 2.4, shall be made for account of the Lenders of such Class pro rata in accordance with the their respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))Commitments; and (ivvi) each the Lenders’ participation in, and payment of interest on obligations in respect of, Swingline Loans of a Class by the Borrower under Section 2.2, shall be made for account of the Lenders pro rata in accordance with their respective Commitments. All payments of principal, interest, fees and other amounts in respect of the amounts Swingline Loans shall be for the account of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments Swingline Lender only (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely except to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as Lender shall have acquired a result of participating interest in any such prepayment Swingline Loan pursuant to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencySection 2.2(e)).

Appears in 2 contracts

Samples: Credit Agreement (Wells Real Estate Investment Trust Ii Inc), Credit Agreement (Wells Real Estate Investment Trust Ii Inc)

Pro Rata Treatment. Except with respect to Bid Rate Loans made by any Lender, as set forth in Sections 2.03(a)(ii) or Section 5.07(b) or to the extent otherwise provided herein: (a) (i) each Borrowing of a Class borrowing from the Lenders under Section 2.01 shall be made from the Lenders of in such Classamounts as may be necessary so that, after giving effect to such borrowing, the outstanding Conventional Loans shall have been made pro rata by the Lenders based on their respective Commitment Percentages as then in effect, (ii) each payment of commitment fee Facility Fee or other fees under Section 2.09 Sections 2.04(a) and (b) shall be made for the account of the Lenders of the applicable Classpro rata according to their respective Commitment Percentages, and (iii) each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.03 shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; Global Commitment Percentages (ii) each Borrowing of or, if there is a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case contemporaneous and corresponding termination or reduction of the making amount of Loans) or their respective Loans of the Canadian Subcommitments, such Class that are amounts as may be necessary so that, after giving effect to be included in such Borrowing (in reduction, the case of conversions and continuations of Loans), subject to Section 2.02(eGlobal Commitment Percentages shall have been reduced pro rata); (iiib) each payment or prepayment of principal of Conventional Loans of a Class by the Borrower Company shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts amount of the Conventional Loans of such Class held by them the Lenders; (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (ivc) each payment of interest on Conventional Loans of a Class by the Borrower Company shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable on such Conventional Loans to the respective Lenders; provided however that, notwithstanding anything and (d) each reimbursement by the Company of disbursements under Letters of Credit shall be made for the account of the Lenders pro rata in accordance with the amounts of reimbursement obligations due and payable on such Letters of Credit to the contrary contained hereinrespective Lenders. If, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency on any day on which payments on account of one or more Bid Rate Loans are due, payments on account of Conventional Loans or on account of other items otherwise under this Agreement are also due and the Multicurrency Commitments are fully utilizedAdministrative Agent has received insufficient funds to pay all amounts due and owing on such date, then the Borrower may make a Borrowing under Administrative Agent shall distribute all funds so received first pro rata among the Dollar Commitments (if otherwise permitted hereunder) Lenders in accordance with the unpaid amounts due on such day, and may use thereafter to the proceeds payment of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Bid Rate Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency, pro rata.

Appears in 2 contracts

Samples: Global Credit Agreement (Ocean Energy Inc), Global Credit Agreement (Ocean Energy Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class Advance shall be made from by the Lenders of such Classunder Section 2.1, the Term Loan shall be made by the Lenders under Section 2.2, each payment of commitment the Commitment Fee under Section 2.10, each payment of the Letter of Credit fee under Section 2.09 3.5 (except as provided therein) shall be made for the account of the Lenders of the applicable ClassLenders, and pro rata according to their respective Commitments; (b) each termination or reduction of the amount of the Revolving Credit Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.12 shall be applied to the respective Revolving Credit Commitments of the Lenders of such ClassLenders, pro rata according to the respective Revolving Credit Commitments; (c) the making, Conversion, and Continuation of Advances of a particular Type (other than Conversions provided for by Section 5.4) shall be made pro rata among the Lenders holding Advances of such Type according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiid) each payment or and prepayment of principal of Loans of a Class or interest on Advances by the Borrower or any Obligated Party of a particular Type of Loan shall be made to the Agent for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans such Advances of such Class Loan held by them such Lenders; (ande) any and all other monies received by the Agent from any source other than pursuant to any of clauses (a) through (d) hereinabove (including, with respect without limitation, from the Borrower or any Guarantor) to be applied first against the Primary Obligations and shall be for the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); benefit and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders based upon each Lender’s aggregate outstanding Advances of all Types and LC Participations and SL Participations to the aggregate outstanding Advances of all Types and LC Participations and SL Participations of all Lenders and then against the Secondary Obligations and shall be for the pro rata benefit and account of the Lenders based upon their respective unpaid amounts of the Secondary Obligations; and (f) the Lenders shall purchase from the Issuing Bank and the Swing Lender pursuant to Section 3.1 and Section 2.8 respectively, participations in the Letters of Credit and the related Letter of Credit Liabilities and the Swing Loans respectively, pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencytheir Revolving Credit Commitments.

Appears in 2 contracts

Samples: Credit Agreement (Ezcorp Inc), Credit Agreement (Ezcorp Inc)

Pro Rata Treatment. Except as provided in the two succeeding sentences with respect to the extent otherwise provided herein: (i) Competitive Borrowings and as required under Section 2.16 or 2.23, each Borrowing Borrowing, each payment or prepayment of a Class shall be made from the Lenders principal of such Classany Borrowing, each payment of commitment fee under Section 2.09 shall be made for account interest on the Loans, each payment of the Lenders of the applicable ClassFacility Fees, and each termination or reduction of the amount Commitments and each continuation or conversion of the Commitments of any Borrowing to a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class any Type shall be allocated pro rata among the Lenders according in accordance with their respective Revolving Percentages; provided that the Borrower shall not be obligated to pay any portion of the Facility Fees in respect of such Lender’s undrawn commitment with respect to any period during which such Lender became a Defaulting Lender, unless such Lender remains a Performing Lender during such period. Each payment of principal of any Competitive Borrowing shall be allocated pro rata among the Lenders participating in such Borrowing in accordance with the respective principal amounts of their respective Commitments outstanding Competitive Loans comprising such Borrowing. Each payment of such Class (in interest on any Competitive Borrowing shall be allocated pro rata among the case of the making of Loans) or their respective Loans of such Class that are to be included Lenders participating in such Borrowing (in accordance with the case respective amounts of conversions accrued and continuations unpaid interest on their outstanding Competitive Loans comprising such Borrowing. For purposes of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by determining the Borrower shall be made for account available Commitments of the Lenders at any time, each outstanding Competitive Borrowing shall be deemed to have utilized the Commitments of the Lenders (including those Lenders that shall not have made Loans as part of such Class Competitive Borrowing) pro rata in accordance with such respective Commitments. If at any time insufficient funds are received by and available to the respective unpaid principal Administrative Agent to pay fully all amounts of principal, unreimbursed payments made by the Loans Issuing Banks pursuant to Letters of Credit, interest and fees then due hereunder, such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments funds shall be made in accordance with the provisions of Section 2.08(e)); and applied (ivi) each first, towards payment of interest on Loans of a Class by and fees then due hereunder, ratably among the Borrower shall be made for account of the Lenders pro rata parties entitled thereto in accordance with the amounts of interest on such Loans of such Class and fees then due to such parties, and payable (ii) second, towards payment of principal and unreimbursed payments made by the Issuing Banks pursuant to Letters of Credit then due hereunder, ratably among the respective Lenders; provided however thatparties entitled thereto in accordance with the amounts of principal and unreimbursed payments made by the Issuing Banks pursuant to Letters of Credit then due to such parties. Each Lender agrees that in computing such Lender’s portion of any Borrowing to be made hereunder, notwithstanding anything to the contrary contained hereinAdministrative Agent may, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilizedits discretion, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds round each Lender’s percentage of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the next higher or lower whole Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyamount.

Appears in 2 contracts

Samples: Credit Agreement (Raytheon Co/), Credit Agreement (Raytheon Co/)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such ClassClass of Commitments, each payment of commitment fee under Section 2.09 2.11 shall be made for the account of the Lenders pro rata according to the average daily unutilized amounts of the applicable Classrespective Class of Commitments, and each termination or reduction of the amount of the Commitments of a Class of Commitments under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such ClassClass of Commitments, pro rata according to the amounts of their respective Commitments of such ClassClass of Commitments; (ii) each Borrowing of a Class of Commitments shall be allocated pro rata among the Lenders of such Class according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class of Commitments by the Borrower shall be made for the account of the Lenders of such Class of Commitments pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class of Commitments held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (iv) each payment of interest on Loans of a Class of Commitments by the Borrower shall be made for the account of the Lenders of such Class of Commitments pro rata in accordance with the amounts of interest on such Loans of such Class of Commitments then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 2 contracts

Samples: Credit Agreement (Barings Private Credit Corp), Secured Revolving Credit Agreement (Nuveen Churchill Direct Lending Corp.)

Pro Rata Treatment. Except Each repayment of principal and interest on the Revolving Loan Component and Term Loan Component shall be allocated among Lenders in accordance with their respective Pro Rata Payment Percentage. Each Lender agrees that in computing such Lender's portion of any Advance to be made hereunder, Agent may, in its discretion, round each Lender's such Advance to the extent otherwise provided herein: (i) each Borrowing next higher or lower whole dollar amount. If any Lender shall, through the exercise of a Class right of banker's lien, set-off, counterclaim or otherwise, obtain payment with respect to its Loans which results in its receiving more than its Pro Rata Payment Percentage of any payments described above, then (A) such Lender shall be deemed to have simultaneously purchased from each of the other Lenders a share in such other Lender's Loans so that the amount of the Loans of all Lenders shall be pro rata as otherwise set forth above, (B) such Lender shall immediately pay to the other Lenders their Pro Rata Payment Percentage of the payments otherwise received as consideration for such purchase and (C) such other adjustments shall be made from time to time as shall be equitable to insure that all Lenders share such payments ratably. If all or any portion of any such excess payment is thereafter recovered from Lender which received the Lenders same, the purchase provided in this Section 2.8 shall be deemed to have been rescinded to the extent of such Classrecovery, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied without interest. Borrower expressly consents to the respective Commitments foregoing arrangements and agrees that each Lender so purchasing a portion of the Lenders another Lender's loans may exercise all rights of such Classpayment (including all rights of set-off, pro rata according to the amounts of their respective Commitments of such Class; (iibanker's lien or counterclaim) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to such portion as fully as if such Lender were the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans direct holder of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyportion.

Appears in 2 contracts

Samples: Security and Agency Agreement (Silverleaf Resorts Inc), Loan, Security and Agency Agreement (Silverleaf Resorts Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) (x) other than with respect to any Borrowing requested pursuant to Section 2.18(a), each Borrowing of a Class shall be made from the Lenders of such Class, (y) other than the payment of a commitment fee to a Non-Extending Lender on the Non-Extending Revolver Termination Date, each payment of a commitment fee under Section 2.09 shall be made for the account of the Lenders of the applicable Class, and (z) other than with respect to any termination or reduction of Commitments in accordance with Section 2.06(f), each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) other than with respect to any Borrowing requested pursuant to Section 2.18(a), each Borrowing of a Class shall be allocated pro rata among the Lenders of such Class according to the amounts of their respective Commitments Applicable Percentage of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) other than in connection with a termination or reduction of Commitments in BUSINESS.29745768.5 accordance with Section 2.06(f), the payment of a Non-Extending Lender’s Non-Extending Loans on the Non-Extending Maturity Date pursuant to Section 2.07(a), a mandatory prepayment pursuant to Section 2.08(d), or the payment of a Non-Extending Lender’s Non-Extending Loans pursuant to Section 2.18, each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section Sections 2.08(e) and (f)); and (iv) other than the payment of interest to a Non- Extending Lender on its applicable Non-Extending Maturity Date, each payment of interest on Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders (which may, for the avoidance of doubt, be different amounts and percentages as between the Non-Extending Lenders and the Extending Lenders); provided however provided, however, that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency. Each Borrowing requested pursuant to Section 2.18(a) shall be made from each Extending Lender on a pro rata basis according to the amounts of their respective Commitments. Any termination or reduction of Commitments in accordance with Section 2.06(f) (including any payment or prepayment of principal of Loans in connection therewith), shall be applied to each Non-Extending Lender on a pro rata basis according to the amounts of its Commitments or Loans, as applicable, any payment of Non-Extending Loans on the Non-Extending Maturity Date pursuant to Section 2.07(a) shall be made for the account of each Non-Extending Lender pro rata in accordance with the respective unpaid principal amounts of the Non-Extending Loans held by it, and any mandatory prepayment of Non-Extending Loans pursuant to Section 2.08(d) shall be made for the account of each Non-Extending Lender pro rata in accordance with the respective unpaid principal amounts of the Non-Extending Loans held by it. For the avoidance of doubt, no payments shall be allocated solely to Non-Extending Lenders following the occurrence and during the continuance of a Default or Event of Default.

Appears in 2 contracts

Samples: Credit Agreement (BlackRock TCP Capital Corp.), Credit Agreement (BlackRock TCP Capital Corp.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from Lenders under Section 2.1. shall be made from the Lenders of such ClassLenders, each payment of commitment fee the fees under Sections 3.6.(a) and (b) and the first sentence of Section 2.09 3.6.(d) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 2.12. or otherwise pursuant to this Agreement shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem, with provided that if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitments; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; (d) the Conversion and Continuation of Revolving Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 5.1.) shall be made pro rata among the Lenders according to the contrary contained herein, in amounts of their respective Revolving Loans and the event that then current Interest Period for each Lender’s portion of each Revolving Loan of such Type shall be coterminous; (e) each prepayment of principal of Bid Rate Loans by the Borrower wishes pursuant to make a Multicurrency Borrowing Section 2.8.(b)(iii) shall be made for account of the Lenders then owed Bid Rate Loans pro rata in an Agreed Foreign Currency accordance with the respective unpaid principal amounts of the Bid Rate Loans then owing to each such Lender; (f) the Lenders’ participation in, and payment obligations in respect of, Swingline Loans under Section 2.4., shall be in accordance with their respective Commitment Percentages; and (g) the Multicurrency Commitments are fully utilizedLenders’ participation in, and payment obligations in respect of, Letters of Credit under Section 2.3., shall be pro rata in accordance with their respective Commitments. All payments of principal, interest, fees and other amounts in respect of the Borrower may make a Borrowing under Swingline Loans shall be for the Dollar Commitments account of the Swingline Lender only (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely except to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as Lender shall have acquired a result of participating interest in any such prepayment Swingline Loan pursuant to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencySection 2.4.).

Appears in 2 contracts

Samples: Credit Agreement (Regency Centers Lp), Credit Agreement (Regency Centers Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: as permitted under Sections 2.14, 2.15(c), 2.15(f), 2.16, 2.17 and 2.24, (i) each Primary Borrowing, each reduction of the aggregate Primary Commitments and each refinancing of any Borrowing with, or conversion of any Borrowing to, a Class Primary Borrowing, or continuation of any Borrowing as a Primary Borrowing, shall be made from allocated pro rata among the Primary Lenders in accordance with their respective Primary Commitments (or, if such Primary Commitments shall have expired or been terminated, in accordance with the respective principal amount of such Class, their Primary Loans) and each payment or prepayment of principal of any Primary Borrowing and each payment of commitment fee under Section 2.09 interest on the Primary Loans shall be made for account of allocated pro rata in accordance with the Lenders of the applicable Class, and each termination or reduction of the respective principal amount of the Commitments of a Class under Section 2.06Primary Loans then held by the Primary Lenders, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Pounds Sterling Borrowing, each reduction of the aggregate Pounds Sterling Commitments and each refinancing of any Borrowing with, or conversion of any Borrowing to, a Class Pounds Sterling Borrowing, or continuation of any Borrowing as a Pounds Sterling Borrowing, shall be allocated pro rata among the Pounds Sterling Lenders in accordance with their respective Pounds Sterling Commitments (or, if such Pounds Sterling Commitments shall have expired or been terminated, in accordance with the respective principal amount of their outstanding Pounds Sterling Loans) and each payment or prepayment of principal of any Pounds Sterling Borrowing and each payment of interest on the Pounds Sterling Loans shall be allocated pro rata in accordance with the respective principal amount of the Pounds Sterling Loans then held by the Pounds Sterling Lenders and (iii) each Canadian Borrowing, each reduction of the aggregate Canadian Commitments and each refinancing of any Canadian Borrowing, or continuation of any Borrowing as a Canadian Borrowing, shall be allocated pro rata among the Canadian Lenders in accordance with their respective Canadian Commitments (or, if such Canadian Commitments shall have expired or been terminated, in accordance with the respective principal amount of their outstanding Canadian Revolving Credit Loans) and each payment or prepayment of principal of any Canadian Borrowing and each payment of interest on the Canadian Loans shall be allocated pro rata in accordance with the respective principal amount of the Canadian Loans then held by the Canadian Lenders. Each payment of principal of any Competitive Borrowing shall be allocated pro rata among the Lenders according to participating in such Borrowing in accordance with the respective principal amounts of their respective Commitments outstanding Competitive Loans comprising such Borrowing. Each payment of such Class (in interest on any Competitive Borrowing shall be allocated pro rata among the case of the making of Loans) or their respective Loans of such Class that are to be included Lenders participating in such Borrowing (in accordance with the case respective amounts of conversions accrued and continuations unpaid interest on their outstanding Competitive Loans comprising such Borrowing. For purposes of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by determining the Borrower shall be made for account available Commitments of the Lenders at any time, each outstanding Competitive Borrowing shall be deemed to have utilized the Commitments of the Lenders (including those Lenders that shall not have made Loans as part of such Class Competitive Borrowing) pro rata in accordance with such respective Commitments. Each Lender agrees that in computing such Lender's portion of any Borrowing to be made hereunder, the respective unpaid principal amounts of the Loans Administrative Agent may, in its discretion, round each Lender's percentage of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made Borrowing computed in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable 2.1, to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the next higher or lower whole Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyamount.

Appears in 2 contracts

Samples: 364 Day Competitive Advance and Revolving Credit Agreement (PHH Corp), Credit Agreement (Cendant Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from the Lenders under Section 2.1 hereof shall be made (x) in the case of Advance Loans, ratably from the Advance Loan Lenders in accordance with their respective Advance Loan Commitments and (y) in the case of such ClassRevolving Loans, ratably from the Revolving Loan Lenders in accordance with their respective Revolving Loan Commitments; (b) each payment of revolving loan commitment fee under Section 2.09 fees shall be made for the account of the Lenders of the applicable ClassRevolving Loan Lenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Revolving Loan Commitments of the Revolving Loan Lenders of such Classunder Section 2.3 hereof shall be applied, pro rata rata, according to the amounts of their Revolving Loan Lenders' respective Commitments of such ClassRevolving Loan Commitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiic) each payment or prepayment of principal of Loans of a Class by the Borrower advance loan commitment fees shall be made for the account of the Advance Loan Lenders, and each termination or reduction of the Advance Loan Commitments of the Advance Loan Lenders under Section 2.3 hereof shall be applied, pro rata, according to the Advance Loan Lenders' respective Advance Loan Commitments; (d) each payment by Borrower of principal of or interest on the Advance Loans or Revolving Loans, as the case may be, prior to the occurrence of an Event of Default (or after the applicable Event of Default shall have been fully cured) shall be made to Agent for the account of the Lenders pro rata in accordance with the respective unpaid principal amounts of such Class Advance Loans or Revolving Loans, as the case may be, held by the Lenders; (e) each payment by Borrower of principal of or interest on the Advance Loans or Revolving Loans, as the case may be, after an Event of Default shall have occurred and be continuing shall be made to Agent for the account of the Lenders pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class Obligations held by them the Lenders (and, with respect to the pro rata treatment of prepayments between Classes, any i.e. such prepayments payments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class shared by the Borrower shall be made for account all of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable not restricted to the respective Lenders; provided however thatholders of Revolving Notes or Advance Notes, notwithstanding anything to regardless of any attempted contrary designation by Borrower), and (f) the contrary contained herein, Revolving Loan Lenders (other than the applicable Issuer) shall purchase from the applicable Issuer participations in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds each Letter of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely Credit to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencytheir respective Revolving Loan Commitment Percentages.

Appears in 2 contracts

Samples: Loan Agreement (Carrols Corp), Loan Agreement (Carrols Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from Lenders under Section 2.1. shall be made from the Lenders of such ClassLenders, each payment of commitment fee the fees under Section 2.09 Sections 3.6.(b) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Revolving Commitments of a Class under Section 2.06, Section 2.08 2.10. or otherwise pursuant to this Agreement shall be applied to the respective Revolving Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassRevolving Commitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Loans of a Class designated by the Borrower as a payment or prepayment of Revolving Loans (or, so long as there are Revolving Loans outstanding, with respect to which the Borrower does not designate its application) shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem, with provided that if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Revolving Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by the Lenders pro rata in accordance with their respective Revolving Commitments; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Revolving Loans of such Class then due and payable to the respective Lenders; (d) the Conversion and Continuation of Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 5.1.) shall be made pro rata among the Lenders according to the contrary contained hereinamounts of their respective Loans and the then current Interest Period for each Lender’s portion of each Loan of such Type shall be coterminous; (e) each payment or prepayment of principal of Loans designated by the Borrower as a prepayment of Term Loans shall be made for the account of the Lenders pro rata in accordance with the respective unpaid principal amounts of the Term Loans held by them; and (f) each payment of interest on Term Loans by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on the Term Loans then due and payable to the respective Lenders. Notwithstanding the foregoing, any payment or prepayment of principal or interest (i) made during the occurrence of a Default or Event of Default or (ii) made pursuant to Section 2.6.(b)(iii), shall be made (A) in the event that case of payment or prepayment of principal, for the Borrower wishes to make a Multicurrency Borrowing account of the Lenders pro rata in an Agreed Foreign Currency accordance with the respective unpaid principal amounts of the Loans held by them, and (B) in the Multicurrency Commitments are fully utilizedcase of payment or prepayment of interest, first for the Borrower may make a Borrowing under account of the Dollar Commitments (if otherwise permitted hereunder) and may use Lenders pro rata in accordance with the proceeds respective unpaid principal amounts of such Borrowing to prepay all Base Rate Loans, then pro rata in accordance with the Multicurrency Loans (without making a ratable prepayment to the Dollar respective unpaid principal amounts of all LIBOR Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 2 contracts

Samples: Credit Agreement (Regency Centers Lp), Credit Agreement (Regency Centers Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from Lenders under Section 2.1.(a) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the fees under Section 2.09 Sections 3.6.(a) and 3.6.(b) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 2.12. or otherwise pursuant to this Agreement shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem, with provided that if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitments; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; (d) the Conversion and Continuation of Revolving Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 5.5.) shall be made pro rata among the Lenders according to the contrary contained herein, in amounts of their respective Revolving Loans and the event that then current Interest Period for each Lender’s portion of each Revolving Loan of such Type shall be coterminous; (e) each prepayment of principal of Bid Rate Loans by the Borrower wishes pursuant to make a Multicurrency Borrowing Section 2.7.(b)(iii) shall be made for account of the Lenders then owed Bid Rate Loans pro rata in an Agreed Foreign Currency accordance with the respective unpaid principal amounts of the Bid Rate Loans then owing to each such Lender; and (f) the Multicurrency Commitments are fully utilizedLenders’ participation in, and payment obligations in respect of, Swingline Loans under Section 2.3.(e), shall be in accordance with their respective Pro Rata Shares. All payments of principal, interest, fees and other amounts in respect of the Borrower may make a Borrowing under Swingline Loans shall be for the Dollar Commitments account of the Swingline Lender only (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely except to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as Lender shall have acquired a result of participating interest in any such prepayment Swingline Loan pursuant to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencySection 2.3.(e)).

Appears in 2 contracts

Samples: Credit Agreement (Realty Income Corp), Credit Agreement (Realty Income Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from the Lenders under Section 2.1.(a) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the Fees under Section 2.09 3.6.(a), the first sentence of Section 3.6.(b) and Section 3.6.(c) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.12. shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem, with provided that if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitments; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; (d) the making, Conversion and Continuation of Revolving Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 4.6.) shall be made pro rata among the Lenders according to the contrary contained herein, amounts of their respective Commitments (in the event that case of making of Loans) or their respective Loans (in the case of Conversions and Continuations of Loans) and the then current Interest Period for each Lender's portion of each Loan of such Type shall be coterminous; (e) the Lenders' participation in, and payment obligations in respect of, Letters of Credit under Section 2.4., shall be pro rata in accordance with their respective Commitments; (f) the Lenders' participation in, and payment obligations in respect of, Swingline Loans under Section 2.3., shall be in accordance with their respective Commitments; and (g) each mandatory prepayment of principal of Bid Rate Loans by the Borrower wishes pursuant to make a Multicurrency Borrowing Section 2.8.(b) shall be made for account of the Lenders then owed Bid Rate Loans pro rata in an Agreed Foreign Currency accordance with the respective unpaid principal amounts of the Bid Rate Loans then owing to each such Lender. All payments of principal, interest, fees and other amounts in respect of the Multicurrency Commitments are fully utilized, Swingline Loans shall be for the Borrower may make a Borrowing under account of the Dollar Commitments Swingline Lender only (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely except to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as Lender shall have acquired a result of participating interest in any such prepayment Swingline Loan pursuant to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencySection 2.3.(e)).

Appears in 2 contracts

Samples: Credit Agreement (Post Apartment Homes Lp), Credit Agreement (HRPT Properties Trust)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) (x) other than with respect any Syndicated Borrowing requested pursuant to Section 2.20(a)(i), each Syndicated Borrowing of a Class shall be made from the Lenders of such ClassClass of Commitments, (y) other than the payment of a commitment fee to a Non-Extending Lender on the earlier of the date its Commitments terminate and its applicable Non-Extended Commitment Termination Date, each payment of commitment fee under Section 2.09 2.11 shall be made for account of the Lenders of the applicable Class, and (z) other than with respect to any termination or reduction of Commitments or prepayment of Loans in accordance with Section 2.08(f), each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, in each case pro rata according to the amounts of their respective Commitments of such Class; (ii) other than with respect to any Syndicated Borrowing requested pursuant to Section 2.20(a)(i), each Syndicated Borrowing of a Class shall be allocated pro rata among the Lenders of such Class according to the amounts of their respective Commitments of such Class (in the case of the making of Syndicated Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) other than in connection with a termination or reduction of Commitments or prepayment of Loans in accordance with Section 2.08(f), the payment of a Non-Extending Lender’s Non-Extended Loans on such Non-Extending Lender’s Non-Extended Final Maturity Date pursuant to Section 2.09(a) or a mandatory prepayment pursuant to Section 2.10(d), each payment or prepayment of principal of Syndicated Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Syndicated Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (iv) other than the payment of interest to a Non-Extending Lender on the earlier of the date its Commitments terminate and its applicable Non-Extended Final Maturity Date, each payment of interest on Syndicated Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything . Each Syndicated Borrowing requested pursuant to Section 2.20(a)(i) shall be made from each Extending Lender and Non-Extending Lender for which the Non-Extending Commitment Termination Date shall not have occurred on a pro rata basis according to the contrary contained hereinamounts of their respective Commitments. Any termination or reduction of Commitments or prepayment of Loans made in accordance with Section 2.08(f) (including any payment or prepayment of principal of Syndicated Loans in connection therewith), shall be applied to the applicable Non-Extending Lender(s) on a pro rata basis according to the amounts of their respective Commitments or Loans, as applicable, any payment of Non-Extended Loans on a Non-Extended Final Maturity Date pursuant to Section 2.09(a) shall be made for the account of each Non-Extending Lender for which the applicable Non-Extended Final Maturity Date shall have occurred pro rata in accordance with the event that respective unpaid principal amounts of the Borrower wishes Non-Extended Loans held by them and any mandatory prepayment of Non-Extended Loans pursuant to make a Multicurrency Borrowing Section 2.10(d) shall be made for account of each Non-Extending Lender for which the applicable Non-Extended Commitment Termination Date shall have occurred pro rata in accordance with the respective unpaid principal amounts of the Non-Extended Loans held by them. For the avoidance of doubt, no payments shall be allocated solely to Non-Extending Lenders following the occurrence and during the continuance of an Agreed Foreign Currency Event of Default and the Multicurrency Commitments are fully utilized, Adjusted Gross Borrowing Base exceeds the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of Covered Debt Amount at such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencytime.

Appears in 2 contracts

Samples: Secured Revolving Credit Agreement (Goldman Sachs BDC, Inc.), Assignment and Assumption (Goldman Sachs BDC, Inc.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from Lenders under Section 2.1(a) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the fees under Section 2.09 3.5(a) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Revolving Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.10 shall be applied to the respective Revolving Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassRevolving Commitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem, with provided that if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Revolving Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by the Lenders pro rata in accordance with their respective Revolving Commitments; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Revolving Loans of such Class then due and payable to the respective Lenders; (d) the Conversion and Continuation of Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 5.1) shall be made pro rata among the Lenders according to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency amounts of their respective Loans and the Multicurrency Commitments are fully utilizedthen current Interest Period for each Lender’s portion of each Loan of such Type shall be coterminous. Any payment or prepayment of principal or interest made: (i)(A) during the existence of a Default or Event of Default; or (B) pursuant to Section 2.5(b)(ii), shall be made for the Borrower may make a Borrowing under account of the Dollar Lenders in accordance with the order set forth in Section 10.5; and (ii) pursuant to Section 2.5(b)(i), shall be made for the account of the Lenders holding Revolving Commitments (or, if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Revolving Commitments have been terminated, holding Revolving Loans) solely to in accordance with the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing order set forth in an Agreed Foreign CurrencySection 10.5.

Appears in 2 contracts

Samples: Joinder Agreement (RREEF Property Trust, Inc.), Joinder Agreement (RREEF Property Trust, Inc.)

Pro Rata Treatment. Except to the extent as expressly otherwise provided herein: (i) , each Borrowing borrowing of a Class shall be made Loans by the Borrower from the Lenders of such Classhereunder shall be made, each payment (except as provided in Section 2.22(a)) by the Borrower on account of any commitment fee under Section 2.09 shall be made for account in respect of the Lenders of the applicable ClassCommitments hereunder and any reduction (except as provided in Section 2.15, and each termination 2.21(a), 2.22, 2.24, 2.25, 2.26, 10.08(f) or reduction of the amount 10.08(i)) of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise the Lenders shall be applied to allocated by the respective Commitments of the Lenders of such ClassAdministrative Agent, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account Revolving Commitment Percentages of the Lenders (other than payments in respect of any difference in the 1003651351v23 Facility Fee in respect of any Tranche); provided that, at the request of the Borrower, in lieu of such Class application on a pro rata in accordance with basis among all Commitments, such reduction may be applied to any Commitments so long as the respective unpaid principal amounts of the Loans Maturity Date of such Class held by them (and, with respect to Commitments precedes the pro rata treatment Maturity Date of prepayments between Classes, any such prepayments shall be made in accordance with the provisions each other Tranche of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class Commitments then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained hereinoutstanding or, in the event more than one Tranche of Commitments shall have an identical Maturity Date that precedes the Maturity Date of each other Tranche of Commitments then outstanding, to such Tranches on a pro rata basis. Each payment (including each prepayment, but excluding payments made pursuant to Sections 2.15, 2.20, 2.21(a), 2.22, 2.24, 2.25, 2.26, 10.05, 10.08(f) or 10.08(i)) by the Borrower wishes on account of principal of and interest on any Tranche of Loans (other than payments in respect of any difference in the interest accruing in respect of any Tranche) shall be allocated by the Administrative Agent pro rata according to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds respective outstanding principal amounts of such Borrowing to prepay Tranche then held by the Multicurrency Loans respective Lenders (without making a ratable prepayment to or as otherwise provided in the Dollar Loansapplicable Incremental Commitment Amendment, Extension Amendment or Specified Refinancing Amendment, if applicable). This Section 2.17 may be amended in accordance with Section 10.08(g) solely to the extent that the Borrower concurrently utilizes necessary to reflect differing amounts payable, and priorities of payments, to Lenders participating in any Multicurrency Commitments made available new Tranches added pursuant to Sections 2.24, 2.25, 2.26, 10.08(e) and 10.08(i), as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyapplicable.

Appears in 2 contracts

Samples: Credit Agreement (Warner Music Group Corp.), Credit Agreement (Warner Music Group Corp.)

Pro Rata Treatment. Except as provided below in this Section 2.18 with respect to the extent otherwise provided herein: Swingline Loans and as required or contemplated under Sections 2.15, 2.16, 2.17, 2.21, 2.22, 2.26, 2.28 and/or 9.04(k), each Borrowing, each payment or prepayment of principal (ior Face Amount, as applicable) each Borrowing of a Class shall be made from the Lenders of such Classany Borrowing, each payment of commitment fee under Section 2.09 shall be made for account interest on the Loans, each payment of the Lenders of the applicable Classa Drawing Fee, a Commitment Fee and an L/C Participation Fee and each termination or reduction of the amount Revolving Credit Commitments under a given Class and each conversion of the Commitments any Borrowing to or continuation of any Borrowing as a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class any Type shall be allocated pro rata among the relevant Lenders according to in accordance with their respective applicable Commitments (or, if such Commitments shall have expired or been terminated, in accordance with the respective principal amounts of their respective applicable outstanding Loans). For purposes of determining the available US Revolving Credit Commitments of the relevant Lenders at any time (but subject to the last sentence of Section 2.05(a)(i)), each outstanding US Swingline Loan shall be deemed to have utilized the relevant US Revolving Credit Commitments of such Class Lenders (in the case of the making of including those Lenders which shall not have made US Swingline Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with such respective US Revolving Credit Commitments. For purposes of determining the respective unpaid principal amounts available Multicurrency Revolving Credit Commitments of the Loans relevant Lenders at any time (but subject to the last sentence of Section 2.05(a)(ii)), each outstanding Multicurrency Swingline Loan shall be deemed to have utilized the relevant Multicurrency Revolving Credit Commitments of such Class held by them Lenders (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments including those Lenders which shall be not have made in accordance with the provisions of Section 2.08(e)); and (ivMulticurrency Swingline Loans) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with such respective Multicurrency Revolving Credit Commitments. Each Lender agrees that in computing such Lender’s portion of any Borrowing to be made hereunder, the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained hereinAdministrative Agent may, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilizedits discretion, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds round each Lender’s percentage of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencynext higher or lower whole dollar amount.

Appears in 2 contracts

Samples: Credit Agreement (Ceridian HCM Holding Inc.), Credit Agreement (Ceridian HCM Holding Inc.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) prior to the Step-Up Date, each Borrowing of a Class shall be made from the Lenders Lenders, and each termination or reduction of such Classthe amount of the Initial Commitments under Section 2.08 shall be applied to the respective Initial Commitments of the Lenders, pro rata according to the amounts of their respective Initial Commitments; (ii) on and after the Step-Up Date, each payment of commitment fee under Section 2.09 Borrowing shall be made for account of from the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (iiiii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans); provided that prior to the Step-Up Date, subject each Borrowing shall be allocated pro rata among the Lenders according to Section 2.02(e)the amounts of their respective Initial Commitments; (iiiiv) each payment of commitment fee under Section 2.11 shall be made for the account of the Lenders pro rata according to the average daily unused amounts of their respective Commitments; (v) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (ivvi) each payment of interest on Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 2 contracts

Samples: Senior Secured Revolving Credit Agreement (Oaktree Finance, LLC), Senior Secured Revolving Credit Agreement (Oaktree Capital Group, LLC)

Pro Rata Treatment. Except Each repayment of principal and interest shall be allocated among Lenders in accordance with their respective Pro Rata Payment Percentage. Each Lender agrees that in computing such Lender’s portion of any Advance to be made hereunder, Agent may, in its discretion, round each Lender’s such Advance to the extent otherwise provided herein: (i) each Borrowing next higher or lower whole dollar amount. If any Lender shall, through the exercise of a Class right of banker’s lien, set-off, counterclaim or otherwise, obtain payment with respect to its Loans which results in its receiving more than its Pro Rata Payment Percentage of any payments described above, then (A) such Lender shall be deemed to have simultaneously purchased from each of the other Lenders a share in such other Lender’s Loans so that the amount of the Loans of all Lenders shall be pro rata as otherwise set forth above, (B) such Lender shall immediately pay to the other Lenders their Pro Rata Payment Percentage of the payments otherwise received as consideration for such purchase and (C) such other adjustments shall be made from time to time as shall be equitable to insure that all Lenders share such payments ratably. If all or any portion of any such excess payment is thereafter recovered from Lender which received the Lenders same, the purchase provided in this Section 2.8 shall be deemed to have been rescinded to the extent of such Classrecovery, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied without interest. Borrower expressly consents to the respective Commitments foregoing arrangements and agrees that each Lender so purchasing a portion of the Lenders another Lender’s loans may exercise all rights of such Classpayment (including all rights of set-off, pro rata according to the amounts of their respective Commitments of such Class; (iibanker’s lien or counterclaim) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to such portion as fully as if such Lender were the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans direct holder of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyportion.

Appears in 2 contracts

Samples: Loan and Security Agreement Inventory (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) (x) other than with respect to any Borrowing requested pursuant to Section 2.18(a), each Borrowing of a Class shall be made from the Lenders of such Class, (y) other than the payment of a commitment fee to a Non-Extending Lender on the Non-Extending Revolver Termination Date, each payment of a commitment fee under Section 2.09 shall be made for the account of the Lenders of the applicable Class, and (z) other than with respect to any termination or reduction of Commitments in accordance with Section 2.06(f), each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) other than with respect to any Borrowing requested pursuant to Section 2.18(a), each Borrowing of a Class shall be allocated pro rata among the Lenders of such Class according to the amounts of their respective Commitments Applicable Percentage of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) other than in connection with a termination or reduction of Commitments in accordance with Section 2.06(f), the payment of a Non-Extending Lender’s Non-Extending Loans on the Non-Extending Maturity Date pursuant to Section 2.07(a), a mandatory prepayment pursuant to Section 2.08(d), or the payment of a Non-Extending Lender’s Non-Extending Loans pursuant to Section 2.18, each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section Sections 2.08(e) and (f)); and (iv) other than the payment of interest to a Non-Extending Lender on its applicable Non-Extending Maturity Date, each payment of interest on Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders (which may, for the avoidance of doubt, be different amounts and percentages as between the Non-Extending Lenders and the Extending Lenders); provided however provided, however, that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency. Each Borrowing requested pursuant to Section 2.18(a) shall be made from each Extending Lender on a pro rata basis according to the amounts of their respective Commitments. Any termination or reduction of Commitments in accordance with Section 2.06(f) (including any payment or prepayment of principal of Loans in connection therewith), shall be applied to each Non-Extending Lender on a pro rata basis according to the amounts of its Commitments or Loans, as applicable, any payment of Non-Extending Loans on the Non-Extending Maturity Date pursuant to Section 2.07(a) shall be made for the account of each Non-Extending Lender pro rata in accordance with the respective unpaid principal amounts of the Non-Extending Loans held by it, and any mandatory prepayment of Non-Extending Loans pursuant to Section 2.08(d) shall be made for the account of each Non-Extending Lender pro rata in accordance with the respective unpaid principal amounts of the Non-Extending Loans held by it. For the avoidance of doubt, no payments shall be allocated solely to Non-Extending Lenders following the occurrence and during the continuance of a Default or Event of Default.

Appears in 2 contracts

Samples: Secured Revolving Credit Agreement (BlackRock TCP Capital Corp.), Loan Documents (BlackRock TCP Capital Corp.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 2 contracts

Samples: Senior Secured Revolving Credit Agreement (Lafayette Square USA, Inc.), Senior Secured (Lafayette Square USA, Inc.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from Lenders under Section 2.1 shall be made from the Lenders of such ClassLenders, each payment of commitment fee the fees under Section 2.09 Sections 3.6(b), 3.6(d) and the first sentence of 3.6(e) shall be made for account the ratable benefit of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise pursuant to this Agreement shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class each Lender pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem, with provided that if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitments; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; (d) the Conversion and Continuation of Revolving Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 5.5) shall be made pro rata among the Lenders according to the contrary contained herein, amounts of their respective Commitments (in the event that case of making of Loans) or their respective Loans (in the case of Conversions or Continuations of Loans) and the then current Interest Period for each Lender’s portion of each Revolving Loan of such Type shall be coterminous; (e) each payment or prepayment of principal and/or interest of Bid Rate Loans by the Borrower wishes pursuant to make a Multicurrency Borrowing Section 2.8(b) shall be made for account of each Lender then owed Bid Rate Loans pro rata in an Agreed Foreign Currency accordance with the respective unpaid principal amounts of the Bid Rate Loans then owing to each such Lender; (f) the Lenders’ participation in, and payment obligations in respect of, Swingline Loans under Section 2.3, shall be in accordance with their respective Pro Rata Shares; and (g) the Multicurrency Commitments are fully utilizedLenders’ participation in, the Borrower may make a Borrowing and payment obligations in respect of, Letters of Credit under the Dollar Commitments (if otherwise permitted hereunder) Section 2.2 and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment with respect to the Dollar Loans) solely funds held in the Letter of Credit Collateral Account, shall be pro rata in accordance with their respective Commitments. All payments of principal, interest, fees and other amounts in respect of the Swingline Loans shall be for the account of the Swingline Lender only (except to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as Lender shall have acquired a result of participating interest in any such prepayment Swingline Loan pursuant to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencySection 2.3).

Appears in 2 contracts

Samples: Credit Agreement (Equity One, Inc.), Credit Agreement (Equity One Inc)

Pro Rata Treatment. Except If any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans (or participations in LC Disbursements) (other than pursuant to Sections 2.4, 2.10 or 2.11), resulting in such Lender receiving payment of a greater proportion of the aggregate principal amount of its Loans (and participations in LC Disbursements) and accrued interest thereon than the proportion of such amounts received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans (and LC Disbursements) of the other Lenders to the extent otherwise provided herein: (i) each Borrowing necessary so that the benefit of a Class such payments shall be made from shared by all the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata ratably in accordance with the aggregate amount of principal of and accrued interest on their respective unpaid principal amounts Loans (and participations in LC Disbursements); PROVIDED that (i) if any such participations are purchased and all or any portion of the Loans payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such Class held recovery, without interest unless the Lender from which such payment is recovered is required to pay interest thereon, in which case each Lender returning funds to such Lender shall pay its pro rata share of such interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment obtained by them a Lender as consideration for the assignment of or sale of a participation in any of its Loans (andor participations in LC Disbursements) to any assignee or participant, other than to any Credit Party or any of its Subsidiaries or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent they may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to the pro rata treatment such participation as fully as if such Lender were a direct creditor of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of in the Lenders pro rata in accordance with the amounts of interest on such Loans amount of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyparticipation.

Appears in 2 contracts

Samples: Credit and Security Agreement (Audubon West Inc), Credit and Security Agreement (Columbus McKinnon Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Revolving Borrowing of a Class shall be made from the Lenders of such ClassRevolving Lenders, each Term Borrowing shall be made from the Term Lenders, each payment of commitment fee under Section 2.09 2.10 shall be made for the account of the Revolving Lenders of and the applicable ClassTerm Lenders, as applicable, and each termination or reduction of the amount of the Revolving Loan Commitments of a Class and Term Loan Commitments under Section 2.06, Section 2.08 or otherwise 2.07 shall be applied to the respective Revolving Loan Commitments and Term Loan Commitments of the Revolving Lenders of such Classand Term Lenders, respectively, pro rata according to the amounts of their respective Revolving Loan Commitments of such Classand Term Loan Commitments; (ii) each Revolving Borrowing of a Class shall be allocated pro rata among the Revolving Lenders according to the amounts of their respective Revolving Loan Commitments of such Class (in the case of the making of Revolving Loans) or their respective Revolving Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Revolving Loans), subject to Section 2.02(e); (iii) each Term Borrowing shall be allocated pro rata among the Term Lenders according to the amounts of their respective Term Loan Commitments (in the case of the making of Term Loans) or their respective Term Loans (in the case of conversions and continuations of Term Loans); (iv) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for the account of the Revolving Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them them; (and, with respect to the pro rata treatment v) each payment or prepayment of prepayments between Classes, any such prepayments principal of Term Loans by Borrower shall be made for the account of the Term Lenders pro rata in accordance with the provisions respective unpaid principal amounts of Section 2.08(e))the Term Loans held by them; and (ivvi) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Revolving Lenders pro rata in accordance with the amounts of interest on such Revolving Loans of such Class then due and payable to the respective Revolving Lenders; provided however that, notwithstanding anything and (vii) each payment of interest on Term Loans by Borrower shall be made for the account of the Term Lenders pro rata in accordance with the amounts of interest on such Term Loans then due and payable to the contrary contained hereinrespective Term Lenders. If at any time while an Event of Default exists, any Revolving Lender or Term Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Revolving Loans or Term Loans, respectively, resulting in such Revolving Lender or Term Lender, as applicable, receiving payment of a greater proportion of the aggregate amount of its Revolving Loans or Term Loans, as applicable, and accrued interest thereon then due than the proportion received by any other Revolving Lender or Term Lender, as applicable, then the Revolving Lender or Term Lender, as applicable, receiving such greater proportion shall purchase (for cash at face value) participations in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilizedRevolving Loans or Term Loans, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds as applicable, of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely other Revolving Lenders or Term Lenders, as applicable, to the extent necessary so that the Borrower concurrently utilizes benefit of all such payments shall be shared by the Revolving Lenders or Term Lenders, as applicable, ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans or Term Loans; provided that (i) if any Multicurrency Commitments such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made available by a Credit Party pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant, other than to a Credit Party or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). Further, if any proceeds from the realization upon any of the Recycled Mortgages are recovered prior to the recordation of the Second Amended and Restated Mortgages referenced in Section 5.18(a)(iii) (or, if the Second Amended and Restated Mortgages referenced in Section 5.18(a)(iii) have been recorded, but the grant or recordation thereof is subsequently avoided as a result of any Insolvency Proceeding, at any time), and, as a result of the realization of such proceeds, the Term Lenders shall have received payment of a pro rata portion of the Term Loans or accrued interest thereon that is greater than the pro rata portion of the Revolving Loans or accrued interest thereon that is recovered by the Revolving Lenders, then the Term Lenders, as applicable, receiving such greater proportion shall purchase (for cash at face value) participations in the Revolving Loans of the Revolving Lenders, to the extent necessary so that the benefit of all such proceeds shall be shared by the Revolving Lenders or Term Lenders, as applicable, ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans or Term Loans; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, (ii) the provisions of this sentence shall not be construed to apply to any payment made by a Credit Party pursuant to and in accordance with the express terms of this Agreement, and (iii) upon the repayment or prepayment of the Revolving Loans so acquired by the Term Lenders and interest thereon, their participation in such Revolving Loans shall cease (it being understood that the Term Lenders shall not, as a result of such prepayment to make (subject participation, acquire or assume any obligations on account of the Revolving Loan Commitments of the Revolving Lenders). Each of Borrower and Guarantor consents to the terms foregoing and conditions contained herein) agrees, to the extent it may effectively do so under applicable Legal Requirements, that any Lender acquiring a Multicurrency Borrowing participation pursuant to the foregoing arrangements may exercise against Borrower or Guarantor rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of Borrower or Guarantor in an Agreed Foreign Currencythe amount of such participation.

Appears in 2 contracts

Samples: Credit Agreement (New York REIT, Inc.), Credit Agreement (American Realty Capital New York Recovery Reit Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 2.10 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.062.07, Section 2.08 2.09 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e2.03(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(eSections 2.09(e) and (f)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 2 contracts

Samples: Senior Secured (First Eagle Alternative Capital BDC, Inc.), Secured Revolving Credit Agreement (THL Credit, Inc.)

Pro Rata Treatment. Except to the extent otherwise provided herein: . (i) each Syndicated Borrowing of a particular Class from the Lenders under Section 2.01 hereof shall be made from the Lenders of such Classrelevant Lenders, each payment of commitment fee fees under Section 2.09 2.11 hereof in respect of Commitments of a particular Class shall be made for account of the Lenders of the applicable Classrelevant Lenders, and each termination or reduction of the amount of the Commitments of a particular Class under Section 2.06, Section 2.08 or otherwise hereof shall be applied to the respective Commitments of such Class of the Lenders of such Classrelevant Lenders, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing Syndicated Eurodollar Loans of a any Class having the same Interest Period shall be allocated pro rata among the relevant Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Syndicated Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Syndicated Loans), subject to Section 2.02(e); (iii) each payment or prepayment by the Borrower of principal of Syndicated Loans of a particular Class by the Borrower shall be made for account of the relevant Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Syndicated Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (iv) each payment by the Borrower of interest on Syndicated Loans of a particular Class by the Borrower shall be made for account of the relevant Lenders pro rata in accordance with the amounts of interest on such Syndicated Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything and (v) each payment by the Borrower of participation fees in respect of Letters of Credit shall be made for the account of the Revolving Credit Lenders pro rata in accordance with the amount of participation fees then due and payable to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyRevolving Credit Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Sprint Nextel Corp), Credit Agreement (Sprint Nextel Corp)

Pro Rata Treatment. Except to All Loans under, and all payments and other amounts received in connection with this Agreement (including, without limitation, amounts received as a result of the extent otherwise provided herein: (iexercise by any Bank of any right of set off) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class effectively shared by the Borrower shall be made for account of the Lenders of such Class pro rata Banks ratably in accordance with the respective Pro Rata Percentages of the Banks. If any Bank shall obtain any payment (whether voluntary, involuntary, through the exercise of any right of set off, or otherwise) on account of the principal of, or interest on, or fees in respect of, any Note held by it (other than pursuant to Section 2.3(d)) in excess of its Pro Rata Percentage of payments on account of similar Notes obtained by all the Banks, such Bank shall forthwith purchase from the other Banks such participations in the Notes or Loans made by them as shall be necessary to cause such purchasing Bank to share the excess payment ratably with each of them; provided, however, that if all or any portion of such excess payment is thereafter recovered from such purchasing Bank, such purchase from each Bank shall be rescinded and such Bank shall repay to the purchasing Bank the purchase price to the extent of such recovery together with an amount equal to such Bank's ratable share (according to the proportion of (a) the amount of such Bank's required repayment to (b) the total amount so recovered from the purchasing Bank) of any interest or other amount paid or payable by the purchasing Bank in respect of the total amount so recovered. Disproportionate payments of interest shall be shared by the purchase of separate participations in unpaid interest obligations, disproportionate payments of fees shall be shared by the purchase of separate participations in unpaid fee obligations, and disproportionate payments of principal shall be shared by the purchase of separate participations in unpaid principal amounts obligations. The Borrower agrees that any Bank so purchasing a participation from another Bank pursuant to this Section 12.20 may, to the fullest extent permitted by law, exercise all its rights of payment (including the Loans right of such Class held by them (and, set-off) with respect to such participation as fully as if such Bank were the pro rata treatment direct creditor of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of in the Lenders pro rata in accordance with the amounts of interest on such Loans amount of such Class then due participation. Notwithstanding the foregoing, a Bank may receive and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, retain an amount in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds excess of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely its Pro Rata Percentage to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject but only to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyextent, that such excess results from such Bank's Highest Lawful Rate exceeding another Bank's Highest Lawful Rate.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Southern Union Co), Credit Agreement (Southern Union Co)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) , each Borrowing Borrowing, each payment or prepayment of a Class shall be made from the Lenders principal of such Classany Loan, each L/C Credit Extension, each payment of commitment fee under Section 2.09 shall be made for account interest, each payment of fees (other than administrative fees paid to the Lenders Administrative Agent and fronting, documentary and processing fees paid to the L/C Issuers), each conversion or continuation of the applicable Class, any Revolving Loans and each termination or reduction of in the amount of the Commitments of a Class under Section 2.06Revolving Committed Amount, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the relevant Lenders according in accordance with their Pro Rata Shares; provided that, if any Lender shall have failed to pay its Pro Rata Share of any Revolving Loan or fund or purchase its Participation Interest, then any amount to which such Lender would otherwise be entitled pursuant to this Section 3.7 shall instead be payable to the amounts of their respective Commitments Administrative Agent until the share of such Class Revolving Loan or such Participation Interest not funded or purchased by such Lender has been repaid, and the Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof, (i) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent or the L/C Issuers to satisfy such Lender’s obligations to pay its Pro Rata Share of any Loan or fund or purchase its Participation Interest and/or (ii) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender to pay its Pro Rata Share of any Loan or fund or purchase its Participation Interest; in the case of the making each of Loans(i) or their respective Loans of such Class that are to be included and (ii) above, in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class any order as determined by the Borrower Administrative Agent in its discretion. In the event any principal, interest, fee or other amount paid to any Lender pursuant to this Credit Agreement or any other Credit Document is rescinded or must otherwise be returned by the Administrative Agent, (a) such principal, interest, fee or other amount that had been satisfied by such payment shall be made for account revived, reinstated and continued in full force and effect as if such payment had not occurred and (b) such Lender shall, upon the request of the Lenders of Administrative Agent, repay to the Administrative Agent the amount so paid to such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (andLender, with respect interest for the period commencing on the date such payment is returned by the Administrative Agent until the date the Administrative Agent receives such repayment at a rate per annum equal to the pro rata treatment of prepayments between Classes, any Overnight Rate if repaid within two (2) Business Days after such prepayments shall be made in accordance with request and thereafter the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyBase Rate.

Appears in 2 contracts

Samples: Credit Agreement (Public Service Co of New Mexico), Credit Agreement (Public Service Co of New Mexico)

Pro Rata Treatment. Except to the extent otherwise provided ------------------ herein: (ia) each Borrowing of a Class Loan shall be made from by the Lenders of holding Commitments for such ClassLoan, each payment of commitment fee fees under Section 2.09 Sections 2.5 hereof and letter of ------------ credit fees under Subsection 3.3 hereof shall be made for the account of the -------------- Lenders of the applicable Classholding Revolving Commitments, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Classholding the applicable Commitments, pro rata according to the amounts of their respective Commitment Percentages (calculated with respect to the Commitments of such Classfor the Loans in question only); (iib) each Borrowing the making, Conversion, and Continuation of Accounts of a Class particular Type (other than Conversions provided for by Section 6.4 hereof) ----------- shall be allocated made pro rata among the Lenders holding Accounts of such Type according to the amounts of their respective Commitment Percentages (calculated with respect to the Commitments of such Class (for the Loans in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(equestion only); (iiic) each payment or and prepayment of principal of or interest on Loans of a Class or Reimbursement Obligations by the Borrower shall be made to the Administrative Agent for the account of the Administrative Agent or the Lenders of holding such Class Loans or Reimbursement Obligations (or participation interests therein) pro rata in accordance with the respective unpaid principal amounts of the such Loans of such Class or participation interests held by them the Administrative Agent or such Lenders; provided that as long as no default in the payment of interest exists, -------- payments of interest made when Lenders are holding different types of Accounts applicable to the same Loan as a result of the application of Section 6.4, shall ----------- be made to the Lenders in accordance with the amount of interest owed to each; and (and, d) the Lenders holding Revolving Commitments (other than the Administrative Agent) shall purchase from the Administrative Agent participations in the Letters of Credit to the extent of their respective Commitment Percentages (calculated with respect to the pro rata treatment Revolving Commitments only). If at any time payment, in whole or in part, of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class amount distributed by the Borrower shall Administrative Agent hereunder is rescinded or must otherwise be made for account of restored or returned by the Lenders pro rata in accordance with the amounts of interest on such Loans Administrative Agent as a preference, fraudulent conveyance or otherwise under any bankruptcy, insolvency or similar law, then each Person receiving any portion of such Class then due and payable amount agrees, upon demand, to return the portion of such amount it has received to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyAdministrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Imperial Financial Group Inc), Credit Agreement (Imperial Financial Group Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(eSections 2.08(f) and (g)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 2 contracts

Samples: Secured Revolving Credit Agreement (Sierra Income Corp), Senior Secured (Sierra Income Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: herein (including Section 2.19): (i) each Borrowing of a Class Revolving Credit Loans shall be made from the Lenders of such ClassRevolving Credit Lenders, each payment of commitment fee under Section 2.09 2.10 in respect of the Revolving Credit Commitments shall be made for account of the Lenders of the applicable ClassRevolving Credit Lenders, and each termination or reduction of the amount of the Revolving Credit Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.07 shall be applied to the respective Second Amended and Restated Credit Agreement Revolving Credit Commitments of the Lenders of such ClassRevolving Credit Lenders, pro rata according to the amounts of their respective Commitments of such ClassRevolving Credit Commitments; (ii) each Borrowing of a Class Revolving Credit Loans shall be allocated pro rata among the Revolving Credit Lenders according to the amounts of their respective Revolving Credit Commitments of such Class (in the case of the making of Revolving Credit Loans) or their respective Revolving Credit Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Revolving Credit Loans), subject to Section 2.02(e); (iii) the Borrowing of Term Loans shall be allocated pro rata among the Term Lenders according to the amounts set forth on Schedule 1 hereto (in the case of the making of Term Loans) or their respective Term Loans that are to be included in such Borrowing (in the case of conversions and continuations of Term Loans); (iv) each payment or prepayment of principal of Revolving Credit Loans of a Class and Term Loans by the Borrower Borrowers shall be made for account of the relevant Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (ivv) each payment of interest on Revolving Credit Loans of a Class and Term Loans by the Borrower Borrowers shall be made for account of the relevant Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 2 contracts

Samples: Credit Agreement (Carlyle Group L.P.), Credit Agreement (Carlyle Group L.P.)

Pro Rata Treatment. Except to the extent as expressly otherwise provided herein: (i) , each Borrowing borrowing of a Class shall be made Loans by the Borrower from the Lenders of such Classhereunder shall be made, each payment (except as provided in Section 2.22(a)) by the Borrower on account of any commitment fee under Section 2.09 shall be made for account in respect of the Lenders of the applicable ClassCommitments hereunder and any reduction (except as provided in Section 2.15, and each termination 2.21(a), 2.22, 2.24, 2.25, 2.26, 10.08(f) or reduction of the amount 10.08(i)) of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise the Lenders shall be applied to allocated by the respective Commitments of the Lenders of such ClassAdministrative Agent, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account Revolving Commitment Percentages of the Lenders (other than payments in respect of any difference in the FacilityCommitment Fee in respect of any Tranche); provided that, at the request of the Borrower, in lieu of such Class application on a pro rata in accordance with basis among all Commitments, such reduction may be applied to any Commitments so long as the respective unpaid principal amounts of the Loans Maturity Date of such Class held by them (and, with respect to Commitments precedes the pro rata treatment Maturity Date of prepayments between Classes, any such prepayments shall be made in accordance with the provisions each other Tranche of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class Commitments then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained hereinoutstanding or, in the event more than one Tranche of Commitments shall have an identical Maturity Date that precedes the Maturity Date of each other Tranche of Commitments then outstanding, to such Tranches on a pro rata basis. Each payment (including each prepayment, but excluding payments made pursuant to Sections 2.15, 2.20, 2.21(a), 2.22, 2.24, 2.25, 2.26, 10.05, 10.08(f) or 10.08(i)) by the Borrower wishes on account of principal of and interest on any Tranche of Loans (other than payments in respect of any difference in the interest accruing in respect of any Tranche) shall be allocated by the Administrative Agent pro rata according to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds respective outstanding principal amounts of such Borrowing to prepay Tranche then held by the Multicurrency Loans respective Lenders (without making a ratable prepayment to or as otherwise provided in the Dollar Loansapplicable Incremental Commitment Amendment, Extension Amendment or Specified Refinancing Amendment, if applicable). This Section 2.17 may be amended in accordance with Section 10.08(g) solely to the extent that the Borrower concurrently utilizes necessary to reflect differing amounts payable, and priorities of payments, to Lenders participating in any Multicurrency Commitments made available new Tranches added pursuant to Sections 2.24, 2.25, 2.26, 10.08(e) and 10.08(i), as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyapplicable.

Appears in 2 contracts

Samples: Credit Agreement (Warner Music Group Corp.), Credit Agreement (Warner Music Group Corp.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from the Revolving Lenders under Sections 2.1(a), 2.3(e) and 2.4(e) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the Fees under Section 2.09 3.6(a), Section 3.6(b) and under the first sentence of Section 3.6(c) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Revolving Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.12 shall be applied to the respective Revolving Commitments of the Lenders of such ClassRevolving Lenders, in each case pro rata according to the amounts of their respective Commitments of such ClassRevolving Commitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for the account of the Revolving Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them them; (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Revolving Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that(d) each payment or prepayment of principal of Tranche B Term Loans by the Borrower shall be made for the account of the Tranche B Lenders pro rata in accordance with the respective unpaid principal amounts of the Tranche B Term Loans held by them, notwithstanding anything each payment or prepayment of principal of Tranche C Term Loans by the Borrower shall be made for the account of the Tranche C Lenders pro rata in accordance with the respective unpaid principal amounts of the Tranche C Term Loans held by them, each payment or prepayment of principal of Tranche D Term Loans by the Borrower shall be made for the account of the Tranche D Lenders pro rata in accordance with the respective unpaid principal amounts of the Tranche D Term Loans held by them, and each payment or prepayment of principal of Tranche E Term Loans by the Borrower shall be made for the account of the Tranche E Lenders pro rata in accordance with the respective unpaid principal amounts of the Tranche E Term Loans held by them; (e) each payment of interest on Tranche B Term Loans by the Borrower shall be made for the account of the Tranche B Lenders pro rata in accordance with the amounts of interest on the Tranche B Term Loans then due and payable to the contrary contained hereinTranche B Term Lenders, in the event that each payment of interest on Tranche C Term Loans by the Borrower wishes shall be made for the account of the Tranche C Lenders pro rata in accordance with the amounts of interest on the Tranche C Term Loans then due and payable to make the Tranche C Term Lenders, and each payment of interest on Tranche D Term Loans by the Borrower shall be made for the account of the Tranche D Lenders pro rata in accordance with the amounts of interest on the Tranche D Term Loans then due and payable to the Tranche D Term Lenders, and each payment of interest on Tranche E Term Loans by the Borrower shall be made for the account of the Tranche E Lenders pro rata in accordance with the amounts of interest on the Tranche E Term Loans then due and payable to the Tranche E Term Lenders; (f) the Conversion and Continuation of Revolving Loans or Term Loans of a Multicurrency Borrowing in an Agreed Foreign Currency particular Type (other than Conversions provided for by Section 4.6) shall be made pro rata among the applicable Lenders according to the amounts of their respective Revolving Loans or Term Loans, as applicable, and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds then current Interest Period for each applicable Lender’s portion of each such Loan of such Borrowing to prepay Type shall be coterminous; (g) the Multicurrency Revolving Lenders’ participation in, and payment obligations in respect of, Letters of Credit under Section 2.4, shall be pro rata in accordance with their respective Revolving Commitments; and (h) the Revolving Lenders’ participation in, and payment obligations in respect of, Swingline Loans under Section 2.3, shall be pro rata in accordance with their respective Revolving Commitments. All payments of principal, interest, fees and other amounts in respect of the Swingline Loans shall be for the account of the Swingline Lender only (without making a ratable prepayment to the Dollar Loans) solely except to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as Revolving Lender shall have acquired and funded a result of participating interest in any such prepayment Swingline Loan pursuant to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing Section 2.3(e), in an Agreed Foreign Currencywhich case such payments shall be pro rata in accordance with such participating interests).

Appears in 2 contracts

Samples: Credit Agreement (National Storage Affiliates Trust), Credit Agreement (National Storage Affiliates Trust)

Pro Rata Treatment. Except Each payment and prepayment of interest and/or principal on the Credit Exposures to the extent otherwise provided herein: Agent for the account of the Bank or the Banks or the Issuing Bank or the Issuing Banks hereunder (i) each Borrowing whether directly made by the Borrower or received by the Agent, a Bank or an Issuing Bank through the exercise of a Class right of set-off or otherwise), shall be made from the Lenders of such Classpro rata, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts each Bank's or Issuing Bank's Pro Rata Share of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (Credit Exposures and according, in the case of the making payments or prepayments in respect of Loans) or their respective Loans of such Class that are , to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid then outstanding principal amounts of the Loans Notes which are being paid or prepaid and each payment and prepayment of such Class held fees under Section 2.02 (b)(i) (whether directly made by them (andthe Borrower or received by the Agent, with respect to a Bank or an Issuing Bank through the pro rata treatment exercise of prepayments between Classesa right of set-off or otherwise), any such prepayments shall be made in accordance with pro rata, according to each Bank's Pro Rata Share of the provisions of Section 2.08(e))Commitment; and (iv) each payment of interest on Loans of a Class provided, however, that any amounts payable by the Borrower pursuant to any of Section 2.02(c) and/or pursuant to any of Sections 2.10(d), (e) or (f), Section 9.02 or Section 9.08 shall be made paid to the Agent for the account of the Lenders pro rata in accordance with Bank or Banks or the Issuing Bank or Issuing Banks entitled to such amounts of interest on such Loans of such Class then due and any amounts payable pursuant to Section 2.15 shall be paid to the respective LendersBank or Banks entitled to such amounts; and provided however thatfurther, notwithstanding anything to the contrary contained hereinhowever, in the event that pursuant to Section 2.10 (b), (c) or (g) any of the Borrower wishes to make Banks has a Multicurrency Borrowing Reference Rate Loan in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make lieu of a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available Libor Loan as a result of application of any of the provisions of such prepayment Sections and the Borrower pays or prepays a Libor Loan the Borrower shall concurrently prepay such Bank's Reference Rate Loan on a pro rata basis as a condition to make (subject any such prepayment, all to the terms end that following any partial prepayment, each Bank's Pro Rata Share of the Revolving Credit Loans shall be equal to such Bank's Pro Rata Share of the Commitment. Notwithstanding the foregoing provisions of this Section 2.16, upon the occurrence and conditions contained herein) during the continuance of an Event of Default, each payment and prepayment of principal and interest on the Loans to the Agent for the account of the Banks and the Issuing Banks or to the Banks and the Issuing Banks hereunder (whether directly made by the Borrower or received by the Agent, a Multicurrency Borrowing in Bank or an Agreed Foreign CurrencyIssuing Bank through the exercise of a right of set-off or otherwise), shall be made pro rata, according to each Bank's and each Issuing Bank's Pro Rata Share of the Credit Exposures.

Appears in 2 contracts

Samples: Loan Agreement (Wellman Inc), Loan Agreement (Wellman Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee fees, ACR Relief Fees and Borrowing Base Flex Fees under Section 2.09 shall be made for the account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 2 contracts

Samples: Secured Revolving Credit Agreement (MONROE CAPITAL Corp), Senior Secured Revolving Credit Agreement (MONROE CAPITAL Corp)

Pro Rata Treatment. (a) Except to the extent otherwise provided herein: herein (iincluding without limitation, as specified in Sections 2.2(f), 2.10(c) and 2.12(c) hereof): (a) each Borrowing borrowing from an applicable Class of a Class Lenders under Section 2.1 hereof shall be made from the Lenders of such Classmade, each payment of commitment fee under Section 2.09 Commitment Fees shall be made and applied for the account of the Lenders of the applicable ClassUS Lenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective US Revolving Credit Commitments of the US Lenders, and each termination or reduction of the Canadian Revolving Credit Commitments of the Canadian Lenders of such Classunder Section 2.4 hereof shall be applied, pro rata pro-rata, according to the amounts of their respective Commitments of such Classeach applicable Lender’s Commitment Percentage; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment by the US Borrower of principal of or interest on US Revolving Loans of a Class by the Borrower (but not Swingline Loans) shall be made to the US Administrative Agent for the account of the US Lenders of such Class pro pro-rata in accordance with the respective unpaid principal amounts of the such US Revolving Loans of such Class held by them (andthe US Lenders, and amounts payable with respect to Swingline Loans shall be paid only to the pro rata treatment Swingline Lender; (c) each payment or prepayment by the Canadian Borrower of prepayments between Classes, any such prepayments principal of or interest on Canadian Revolving Loans shall be made in accordance with to the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by Canadian Administrative Agent for the Borrower shall be made for account of the Canadian Lenders pro pro-rata in accordance with the respective unpaid principal amounts of interest on such Canadian Revolving Loans of such Class then due and payable to held by the respective Canadian Lenders; provided however that, notwithstanding anything to (d) the contrary contained herein, US Lenders (other than the applicable Issuing Bank in its capacity as a US Lender) shall purchase from the applicable Issuing Bank participations in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds US Letters of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely Credit to the extent that of their respective Commitment Percentages upon issuance by the Borrower concurrently utilizes any Multicurrency Commitments made available applicable Issuing Bank of each US Letter of Credit as otherwise provided for herein; (e) the Canadian Lenders (other than the applicable Issuing Bank in its capacity as a result Canadian Lender) shall purchase from the applicable Issuing Bank participations in the Canadian Letters of such prepayment to make (subject Credit to the terms extent of their respective Commitment Percentages upon issuance by the applicable Issuing Bank of each Canadian Letter of Credit as otherwise provided for herein; and conditions contained (f) the US Lenders (other than the Swingline Lender) shall purchase from the Swingline Lender participations in the Swingline Loans to the extent of their respective Commitment Percentages upon request by the Swingline Lender as otherwise provided for herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 2 contracts

Samples: Credit Agreement (Animal Health International, Inc.), Credit Agreement (Animal Health International, Inc.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from the Lenders under Section 2.1(a) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the Fees under Section 2.09 3.6(a) and Section 3.6(b) (other than those solely for the account of the Issuing Lender) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.12 shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower Borrowers shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem, with provided that if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitments; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower Borrowers shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; (d) the making, Conversion and Continuation of Revolving Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 4.6) shall be made pro rata among the Lenders according to the contrary contained herein, amounts of their respective Commitments (in the event that case of making of Loans) or their respective Loans (in the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency case of Conversions and Continuations of Loans) and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds then current Interest Period for each Lender's portion of each Loan of such Borrowing to prepay Type shall be coterminous; (e) the Multicurrency Lenders' participation in, and payment obligations in respect of, Letters of Credit under Section 2.4, shall be pro rata in accordance with their respective Commitments; and (f) the Lenders' participation in, and payment obligations in respect of, Swingline Loans under Section 2.2, shall be in accordance with their respective Commitments. All payments of principal, interest, fees and other amounts in respect of the Swingline Loans shall be for the account of the Swingline Lender only (without making a ratable prepayment to the Dollar Loans) solely except to the extent that any Lender shall have acquired a participating interest in any such Swingline Loan pursuant to Section 2.2(e)). All payments of principal and interest in respect of Competitive Advances shall be for the Borrower concurrently utilizes any Multicurrency Commitments made available as a result account of the Lender making such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.Competitive Advance only. Section 3.3

Appears in 2 contracts

Samples: Credit Agreement (Gables Residential Trust), Credit Agreement (Gables Realty Limited Partnership)

Pro Rata Treatment. Except to the extent otherwise provided ------------------ herein: (ia) each Borrowing of a Class Loan shall be made from by the Lenders of holding Commitments for such ClassLoan, each payment of commitment fee fees under Section 2.09 Sections 2.5 and letter of credit ------------ fees under subsection 2.7(c) shall be made for the account of the Lenders of the applicable Class, ----------------- holding Revolving Commitments and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Classholding the applicable Commitments, pro rata according to the amounts of their respective Commitment Percentages (calculated with respect to the Commitments of such Classfor the Loans in question only); (iib) each Borrowing the making, Conversion, and Continuation of Accounts of a Class particular Type (other than Conversions provided for by Section 6.4) shall be allocated ----------- made pro rata among the Lenders holding Accounts of such Type according to the amounts of their respective Commitment Percentages (calculated with respect to the Commitments of such Class (for the Loans in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(equestion only); (iiic) each payment or and prepayment of principal of or interest on Loans of a Class or Reimbursement Obligations by the Borrower shall be made to Administrative Agent for the account of the Lenders of holding such Class Loans or Reimbursement Obligations (or participation interests therein) pro rata in accordance with the respective unpaid principal amounts of the such Loans of such Class or participation interests held by them such Lenders; provided that as long as no -------- default in the payment of interest exists, payments of interest made when Lenders are holding different types of Accounts applicable to the same Loan as a result of the application of Section 6.4, shall be made to the Lenders in ----------- accordance with the amount of interest owed to each; and (and, d) the Lenders holding Revolving Commitments shall purchase from the Fronting Bank participations in the Letters of Credit to the extent of their respective Commitment Percentages (calculated only with respect to the Revolving Commitments). All payments of the Term Loans shall be applied pro rata treatment with respect to each remaining installment of prepayments between Classesprincipal. If at any time payment, in whole or in part, of any such prepayments shall amount distributed by Administrative Agent hereunder is rescinded or must otherwise be made in accordance with the provisions of Section 2.08(e)); and (iv) restored or returned by Administrative Agent as a preference, fraudulent conveyance, or otherwise under any bankruptcy, insolvency, or similar law, then each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans Person receiving any portion of such Class then due and payable amount agrees, upon demand, to return the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds portion of such Borrowing amount it has received to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyAdministrative Agent.

Appears in 2 contracts

Samples: Credit Agreement (Renaissance Worldwide Inc), Credit Agreement (Renaissance Worldwide Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a particular Class (including of a particular Series of Incremental Loans) shall be made from the Lenders of such Classrelevant Lenders, each payment of commitment fee under Section 2.09 2.12 shall be made for account of the Lenders of the applicable Classrelevant Lenders, and each termination or reduction of the amount of the Commitments of a particular Class (including of a particular Series of Incremental Loans) under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of such Class of the Lenders of such Classrelevant Lenders, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of any Class (including of a Class particular Series of Incremental Loans) shall be allocated pro rata among the relevant Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Term Loans or Incremental Loans) or their respective Term Loans or Incremental Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Term Loans or Incremental Loans), subject to Section 2.02(e); (iii) each payment or prepayment by the U.S. Borrower of principal of Term Loans or Incremental Loans of a particular Class by the Borrower (including of a particular Series of Incremental Loans) shall be made for account of the relevant Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Term Loans or Incremental Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (iv) each payment by the U.S. Borrower of interest on Term Loans or Incremental Loans of a particular Class by the Borrower (including of a particular Series of Incremental Loans) shall be made for the account of the relevant Lenders pro rata in accordance with the amounts of interest on such Term Loans of such Class or Incremental Loans then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 2 contracts

Samples: Credit Agreement (1295728 Alberta ULC), Intercreditor Agreement (1295728 Alberta ULC)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Revolving Borrowing of a Class shall be made from the Lenders of such ClassRevolving Lenders, each payment of commitment fee the Unused Line Fee under Section 2.09 2.11 shall be made for account of the Lenders of the applicable ClassRevolving Lenders, and each termination or reduction of the amount of the Revolving Commitments of a Class under Section 2.06, Section 2.08 or otherwise 1.7 shall be applied to the respective Revolving Commitments of the Lenders of such ClassRevolving Lenders, pro rata according to the amounts of their respective Commitments of such ClassRevolving Commitments; (ii) each Revolving Borrowing of a Class shall be allocated pro rata among the Revolving Lenders according to the amounts of their respective Revolving Commitments of such Class (in the case of the making of Revolving Loans) or their respective Revolving Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for account of the Revolving Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (iv) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for account of the Revolving Lenders pro rata in accordance with the amounts of interest on such Revolving Loans of such Class then due and payable to the respective Revolving Lenders; provided however that(v) each Term Loan Borrowing of a Series shall be made from the applicable Term Lenders, notwithstanding anything pro rata according to the contrary contained herein, amounts of their respective Term Loan Commitments for such Series; (vi) each Term Loan Borrowing of a Series shall be allocated pro rata among the applicable Term Lenders according to the amounts of their respective Term Loan Commitments for such Series (in the event that case of the making of the Term Loans of such Series) or their respective portions of the Term Loans of such Series (in the case of conversions and continuations of the Term Loans of such Series); (vii) each payment or prepayment of principal of the Term Loans of a Series by the Borrower wishes to make shall be made for account of the applicable Term Lenders pro rata in accordance with the respective unpaid principal amounts of the Term Loans of such Series held by them; and (viii) each payment of interest on the Term Loans of a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, Series by the Borrower may make a Borrowing shall be made for account of the applicable Term Lenders pro rata in accordance with the amounts of interest on the Term Loans of such Series then due and payable to the respective Term Lenders. For the avoidance of doubt, (x) the obligations to repay the New Term Loans and pay and perform the other obligations of Borrower or MAC under the Dollar Commitments Loan Documents (if otherwise permitted hereunderincluding, without limitation, any Joinder Agreement, any Notes evidencing the New Term Loans and any other documents and instruments executed in connection with any of the foregoing) constitute Obligations under this Agreement that are pari passu with the other Obligations in accordance with the respective Credit Exposures of the Lenders and may use (y) all of the proceeds Obligations of such Borrowing to prepay Borrower are guarantied by MAC under Loan Documents pari passu in accordance with the Multicurrency Loans (without making a ratable prepayment to respective Credit Exposures of the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyLenders.

Appears in 1 contract

Samples: Management Agreement (Macerich Co)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing the making of a Class the Five Year Term Loans by the Five Year Term Lenders under Section 2.1.(a) shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective the Five Year Term Lenders’ Five Year Term Commitments and the making of such Class; (iithe Seven Year Term Loans by the Seven Year Term Lenders under Section 2.1.(b) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e)Seven Year Term Lenders’ Seven Year Term Commitments; (iiib) each payment or prepayment of principal of Five Year Term Loans of a Class by the Borrower shall be made for the account of the Five Year Term Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Five Year Term Loans of such Class held by them (andthem, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment or prepayment of interest on principal of Seven Year Term Loans of a Class by the Borrower shall be made for the account of the Seven Year Term Lenders pro rata in accordance with the unpaid principal amounts of the Seven Year Term Loans held by them, except as an Additional Lender may otherwise agree in an Additional Loan Amendment; (c) each payment of interest on the Five Year Term Loans by the Borrower shall be made for the account of the Five Year Term Lenders pro rata in accordance with the amounts of interest on such the Five Year Term Loans of such Class then due and payable to the respective Five Year Term Lenders and each payment of interest on the Seven Year Term Loans by the Borrower shall be made for the account of the Seven Year Term Lenders pro rata in accordance with the amounts of interest on the Seven Year Term Loans then due and payable to the Seven Year Term Lenders; and (d) the Conversion and Continuation of Five Year Term Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 4.6.) shall be made pro rata among the Five Year Term Lenders according to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency amounts of their respective Five Year Term Loans and the Multicurrency Commitments are fully utilizedConversion and Continuation of Seven Year Term Loans of a particular Type (other than Conversions provided for by Section 4.6.) shall be made pro rata among the Seven Year Term Lenders according to the amounts of their respective Seven Year Term Loans, and the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds then current Interest Period for each Lender’s portion of each such Loan of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyType shall be coterminous.

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (U-Store-It Trust)

Pro Rata Treatment. Except to the extent otherwise provided ------------------ herein: (ia) each Borrowing of a Class Loan shall be made from by the Lenders of holding Commitments for such ClassLoan, each payment of commitment fee fees under Section 2.09 Sections 2.5 and letter of credit ------------ fees under Subsection 2.7(c) shall be made for the account of the Lenders of the applicable Class, ----------------- holding Revolving Commitments and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Classholding the applicable Commitments, pro rata according to the amounts of their respective Commitment Percentages (calculated with respect to the Commitments of such Classfor the Loans in question only); (iib) each Borrowing the making, Conversion, and Continuation of Accounts of a Class particular Type (other than Conversions provided for by Section 6.4) shall be allocated ----------- made pro rata among the Lenders holding Accounts of such Type according to the amounts of their respective Commitment Percentages (calculated with respect to the Commitments of such Class (for the Loans in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(equestion only); (iiic) each payment or and prepayment of principal of or interest on Loans of a Class or Reimbursement Obligations by the Borrower shall be made to Administrative Agent for the account of the Lenders of holding such Class Loans or Reimbursement Obligations (or participation interests therein) pro rata in accordance with the respective unpaid principal amounts of the such Loans of such Class or participation interests held by them (and, with respect to such Lenders; provided that as long as no -------- default in the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts exists, payments of interest on such Loans made when Lenders are holding different types of such Class then due and payable Accounts applicable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available same Loan as a result of such prepayment to make (subject the application of Section 6.4, shall be made to the terms Lenders in ----------- accordance with the amount of interest owed to each; and conditions contained herein(d) the Lenders holding Revolving Commitments shall purchase from the Fronting Bank participations in the Letters of Credit to the extent of their respective Commitment Percentages. If at any time payment, in whole or in part, of any amount distributed by Administrative Agent hereunder is rescinded or must otherwise be restored or returned by Administrative Agent as a Multicurrency Borrowing in an Agreed Foreign Currencypreference, fraudulent conveyance, or otherwise under any bankruptcy, insolvency, or similar law, then each Person receiving any portion of such amount agrees, upon demand, to return the portion of such amount it has received to Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Renaissance Worldwide Inc)

Pro Rata Treatment. Except to the extent otherwise provided ------------------ herein: (i) each Borrowing of Dollar Loans or Multicurrency Loans in a Class particular Currency from the Lenders under Section 2.01 hereof shall be made from the Lenders of such Classrelevant Lenders, each payment of commitment fee Commitment Fees, Utilization Fees or of participation fees under Section 2.09 2.11 hereof in respect of the Dollar Sub- Commitment or the Multicurrency Sub-Commitment shall be made for account of the Lenders of the applicable Classrelevant Lenders, and each termination or reduction of the amount of the Commitments of a Class Commitment, Dollar Sub-Commitment or Multicurrency Sub-Commitment under Section 2.06, Section 2.08 or otherwise hereof shall be applied to the respective Commitments and Sub-Commitments of the Lenders of such Classrelevant Lenders, pro rata according to the amounts of their respective Commitments of such Classor Sub-Commitments; (ii) each Borrowing the making, conversion and continuation of Loans of a Class particular Type and Currency (other than conversions provided for by Section 2.13 hereof) shall be allocated made pro rata among the relevant Lenders according to the amounts of their respective Sub-Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans)) and the then current Interest Period for each Eurocurrency Loan, subject to Section 2.02(e)as applicable, shall be coterminous; (iii) each payment or prepayment of principal of Dollar Loans or of a Class Multicurrency Loans by the Borrower Borrowers shall be made for account of the Dollar Lenders of such Class and the Multicurrency Lenders, as applicable, pro rata in accordance with the respective unpaid principal amounts of the Dollar Loans of such Class and Multicurrency Loans held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (iv) each payment of interest on Dollar Loans of a Class and Multicurrency Loans by the Borrower Borrowers shall be made for account of the relevant Lenders pro rata in accordance with the amounts of interest on such Dollar Loans of such Class and Multicurrency Loans then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 1 contract

Samples: Credit Agreement (Smithfield Foods Inc)

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Pro Rata Treatment. Except to All payments of any principal of, or interest on, the extent otherwise provided herein: (i) each Borrowing of a Class Notes shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata ratably among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the aggregate amount of principal of, and accrued interest on, their respective unpaid principal amounts Notes. Upon the occurrence and during the continuation of an Event of Default, in addition to all other rights and remedies that may then be available to any Lender, each Lender is hereby authorized at any time and from time to time, without notice to any Loan Party (any such notice being expressly waived by the Loan Parties) to set off and apply any and all indebtedness at any time owing by such Lender to or for the credit or the account of the Loans Loan Parties against all Obligations which may be owed to such Lender. If any Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Notes, resulting in such Lender receiving payment of a greater proportion of the aggregate principal amount of its Notes and accrued interest thereon than the proportion of such Class held amounts received by them any other Lender, then the Lender receiving such greater proportion shall purchase (and, with respect for cash at face value) participations in the Notes of the other Lenders to the pro rata treatment extent necessary so that the benefit of prepayments between Classes, any such prepayments payments shall be made shared by all Lenders ratably in accordance with the provisions aggregate amount of Section 2.08(e)); principal of and (iv) each payment of accrued interest on Loans their respective Notes; provided that (i) if any such participations are purchased and all or any portion of a Class by the Borrower payment giving rise thereto is recovered, such participations shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency rescinded and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely purchase price restored to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment recovery, without interest unless the Lender from which such payment is recovered is required to make pay interest thereon, in which case each Lender returning funds to such Lender shall pay its pro rata share of such interest, and (subject ii) the provisions of this paragraph shall not be construed to apply to any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Notes to any assignee or participant, other than to any Loan Party (as to which the provisions of this paragraph shall apply). Borrower consents to the terms foregoing and conditions contained herein) agree, to the extent they may effectively do so under applicable law, that any Lender acquiring a Multicurrency Borrowing participation pursuant to the foregoing arrangements may exercise rights of set-off and counterclaim against Borrower with respect to such participation as fully as if such Lender were a direct creditor of Borrower in an Agreed Foreign Currencythe amount of such participation.

Appears in 1 contract

Samples: Senior Subordinated Credit Agreement (Quadrant 4 System Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing borrowing of Loans of a particular Class from the Lenders under Section 2.01 shall be made from the Lenders of such Classrelevant Lenders, each payment of commitment fee under Section 2.09 2.05 in respect of Commitments of a particular Class shall be made for account of the Lenders of the applicable Classrelevant Lenders, and each termination or reduction of the amount of the Commitments of a particular Class under Section 2.06, Section 2.08 2.04 or otherwise 2.10 shall be applied to the respective Commitments of such Class of the Lenders of such Classrelevant Lenders, pro rata according to the amounts of their respective Commitments of such Class; provided, however, that Swing Loans shall be made only by, and interest thereon shall be paid by Borrower only to, the Swing Loan Lender (iisubject to such Lender's obligation in respect of any participation therein purchased by the other Revolving Credit Lenders as provided in Section 2.01(g)); (b) each Borrowing except as otherwise provided in Section 5.04, LIBOR Loans of a any Class having the same Interest Period shall be allocated pro rata among the relevant Lenders according to the amounts of their respective Revolving Credit and Term Loan Commitments of such Class (in the case of the making of Loans) or their respective Revolving Credit and Term Loans of such Class that are to be included in such Borrowing (in the case of conversions Conversions and continuations Continuations of Loans), subject to Section 2.02(e); (iiic) each payment or prepayment of principal of Revolving Credit Loans or Term Loans by Borrower or PR Borrower shall be made for the account of the relevant Lenders pro rata in accordance with the respective unpaid outstanding principal amounts of the Loans of a Class such class held by the them; and (d) each payment of interest on Revolving Credit Loans and Term Loans by Borrower or PR Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the relevant Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 1 contract

Samples: Reaffirmation Agreement (Centennial Communications Corp /De)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders of such Class according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of the last paragraph of Section 2.08(d) and Sections 2.08(e) and (f)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however provided, however, that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 1 contract

Samples: Senior Secured (TCP Capital Corp.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from the Lenders under Section 2.1.(a) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the Fees under Sections 3.6.(b) and 3.6.(c) and the first sentence of Section 2.09 3.6.(d) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 2.12. or otherwise pursuant to this Agreement shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem, with provided that if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitments; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; (d) the making, Conversion and Continuation of Revolving Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 5.5.) shall be made pro rata among the Lenders according to the contrary contained herein, amounts of their respective Commitments (in the event that case of making of Loans) or their respective Loans (in the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency case of Conversions and Continuations of Loans) and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds then current Interest Period for each Lender's portion of each Loan of such Borrowing to prepay Type shall be coterminous; (e) the Multicurrency Lenders' participation in, and payment obligations in respect of, Swingline Loans under Section 2.3. shall be in accordance with their respective Commitment Percentages; and (without making a ratable prepayment to f) the Dollar Loans) solely Lenders' participation in, and payment obligations in respect of, Letters of Credit under Section 2.2. shall be pro rata in accordance with their respective Commitments. All payments of principal, interest, fees and other amounts in respect of the Swingline Loans shall be for the account of the Swingline Lender only (except to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as Lender shall have acquired a result of participating interest in any such prepayment Swingline Loan pursuant to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencySection 2.3.(e)).

Appears in 1 contract

Samples: Credit Agreement (Keystone Property Trust)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from the Lenders under Section 2.1.(a), 2.3.(d) and 2.4.(e) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the Fees under Section 2.09 3.6.(a) and under the first sentence of Section 3.6.(b) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Revolving Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.12. shall be applied to the respective Revolving Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassRevolving Commitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them them; (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything (d) each payment or prepayment of principal of Term Loans by the Borrower shall be made for the account of the Lenders pro rata in accordance with the respective unpaid principal amounts of the Term Loans held by them; (e) each payment of interest on Term Loans by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on the Term Loans then due and payable to the contrary contained hereinrespective applicable Lenders; (f) the Conversion and Continuation of Revolving Loans or Term Loans of a particular Type (other than Conversions provided for by Section 4.6.) shall be made pro rata among the Lenders according to the amounts of their respective Revolving Loans or Term Loans, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency as applicable, and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds then current Interest Period for each Lender’s portion of each such Loan of such Borrowing to prepay Type shall be coterminous; (g) the Multicurrency Lenders’ participation in, and payment obligations in respect of, Letters of Credit under Section 2.4., shall be pro rata in accordance with their respective Revolving Commitments; and (h) the Lenders’ participation in, and payment obligations in respect of, Swingline Loans under Section 2.3., shall be pro rata in accordance with their respective Revolving Commitments. All payments of principal, interest, fees and other amounts in respect of the Swingline Loans shall be for the account of the Swingline Lender only (without making a ratable prepayment to the Dollar Loans) solely except to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as Lender shall have acquired and funded a result of participating interest in any such prepayment Swingline Loan pursuant to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing Section 2.3.(e), in an Agreed Foreign Currencywhich case such payments shall be pro rata in accordance with such participating interests).

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (U-Store-It Trust)

Pro Rata Treatment. Except as provided below in this Section 2.17 with respect to Swingline Loans and as required under Section 2.09(d), 2.12(a), 2.12(e), 2.13, 2.14, 2.15, 2.20, 2.21, 2.22(e), 2.23(d)(ii), 2.23(d)(iii), 2.24, 2.25, 9.04, or 9.19, each Borrowing, each payment or prepayment of principal of any Borrowing by the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such ClassBorrower, each payment of commitment fee under Section 2.09 shall be made for account reimbursement obligations, each payment of interest on the Loans, each payment of the Lenders of the applicable ClassCommitment Fees, and each termination or reduction of the amount Term Commitments, the New Term Commitments, the Refinancing Term Commitments or the Revolving Commitments and each conversion of the Commitments any Borrowing to or continuation of any Borrowing as a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class any Type, in each case, by the Borrower, shall be allocated pro rata among the Lenders according to in accordance with their respective applicable Commitments (or, if such Commitments shall have expired or been terminated, in accordance with the respective principal amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of outstanding Loans), subject to Section 2.02(e); (iii) each payment or prepayment . For purposes of principal of Loans of a Class by determining the Borrower shall be made for account available Revolving Commitments of the Lenders at any time, each outstanding Swingline Loan shall be deemed to have utilized the Revolving Commitments of such Class the Lenders (including those Lenders which shall not have made Swingline Loans) pro rata in accordance with such respective Revolving Commitments (provided that the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, Fifth Amendment Tranche A Revolving Commitments and Tranche B Revolving Commitments shall not be included in any such prepayments shall determination until the Dragon Acquisition Closing Date). Each Lender agrees that in computing such Lender’s portion of any Borrowing to be made in accordance with hereunder, the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained hereinAdministrative Agent may, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilizedits discretion, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds round each Lender’s percentage of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencynext higher or lower whole dollar amount.

Appears in 1 contract

Samples: Credit Agreement (NRG Energy, Inc.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class borrowing from the Lenders under Section 2.1(a) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the Fees under Section 2.09 3.6(a), Section 3.6(b)(ii) and Section 3.6(d) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.11 shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing payment or prepayment of principal of Revolving Loans by the Borrower shall be made for the account of the Lenders pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans held by them, provided that if immediately prior to giving effect to any such payment in respect of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata in accordance with their respective Commitments in effect at the time such Revolving Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitments; (iii) each payment of interest on Revolving Loans by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amount of interest on such Revolving Loans then due and payable to the respective Lenders; (iv) the making, Conversion and Continuation of Revolving Loans of a Class particular Type (other than Conversions provided for by Section 4.6) shall be allocated made pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Revolving Loans) or their respective Revolving Loans of such Class that are to be included in such Borrowing (in the case of conversions Conversions and continuations Continuations of Revolving Loans), subject to Section 2.02(e)) and the then current Interest Period for each Lender’s portion of each Revolving Loan of such Type shall be coterminous; (iiiv) each the Lenders’ participation in, and payment or prepayment obligations in respect of, Letters of principal of Loans of a Class by the Borrower Credit under Section 2.3, shall be made for account of the Lenders of such Class pro rata in accordance with their respective Commitments; and (vi) the respective unpaid principal amounts of the Lenders’ participation in, and payment obligations in respect of, Swingline Loans of such Class held by them (andunder Section 2.2, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments. All payments of principal, interest, fees and other amounts in respect of the provisions of Section 2.08(e)); and (iv) each payment of interest on Swingline Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments Swingline Lender only (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely except to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as Lender shall have acquired a result of participating interest in any such prepayment Swingline Loan pursuant to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencySection 2.2(e)).

Appears in 1 contract

Samples: Credit Agreement (NNN Apartment REIT, Inc.)

Pro Rata Treatment. Except Each repayment of principal and interest shall be allocated among Lenders in accordance with their respective Pro Rata Payment Percentage. Each Lender agrees that in computing such Lender’s portion of any Advance to be made hereunder, Agent may, in its discretion, round each Lender’s such Advance to the extent otherwise provided herein: (i) each Borrowing next higher or lower whole dollar amount. If any Lender shall, through the exercise of a Class right of banker’s lien, set-off, counterclaim or otherwise, obtain payment with respect to its Loans which results in its receiving more than its Pro Rata Payment Percentage of any payments described above, then (A) such Lender shall be deemed to have simultaneously purchased from each of the other Lenders a share in such other Lender’s Loans so that the amount of the Loans of all Lenders shall be pro rata as otherwise set forth above, (B) such Lender shall immediately pay to the other Lenders their Pro Rata Payment Percentage of the payments otherwise received as consideration for such purchase and (C) such other adjustments shall be made from time to time as shall be equitable to insure that all Lenders share such payments ratably. If all or any portion of any such excess payment is thereafter recovered from Lender which received the Lenders same, the purchase provided in this Section 2.7 shall be deemed to have been rescinded to the extent of such Classrecovery, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied without interest. Borrower expressly consents to the respective Commitments foregoing arrangements and agrees that each Lender so purchasing a portion of the Lenders another Lender’s loans may exercise all rights of such Classpayment (including all rights of set-off, pro rata according to the amounts of their respective Commitments of such Class; (iibanker’s lien or counterclaim) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to such portion as fully as if such Lender were the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans direct holder of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyportion.

Appears in 1 contract

Samples: Loan and Security Agreement (Silverleaf Resorts Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee fees under Section 2.09 2.04 hereof in respect of Commitments of a particular Class and Series shall be made for account of the Lenders of the applicable Classrelevant Lenders, and each termination or reduction of the amount of the Commitments of a particular Class and Series under Section 2.06, Section 2.08 or otherwise 2.03 hereof shall be applied to the respective Commitments of such Class and Series of the Lenders of such Classrelevant Lenders, pro rata according to the amounts of their respective Commitments of such ClassCommitment Percentages; (iib) each Borrowing the making, Conversion and Continuation of Loans of a particular Class and Series of a particular Type (other than Conversions provided for by Section 5.04 hereof) shall be allocated made pro rata among the relevant Lenders according to the amounts of their respective Commitments Commitment Percentages and Eurodollar Loans of a particular Class and Series made, Converted or Continued on the same day but having different Interest Periods shall be allocated pro rata among the relevant Lenders according to the amounts of such Class (in the case of the making of Loans) or their respective Loans of respectively held by such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e)Lenders; (iiic) each payment or prepayment of principal by the Borrower of Loans of a particular Class by the Borrower and CREDIT AGREEMENT Series (other than Swingline Loans) shall be made for account of the relevant Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the such Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))relevant Lenders; and (ivd) each payment of interest on Loans of a particular Class by the Borrower and Series (other than Swingline Loans) shall be made for account of the relevant Lenders pro rata in accordance with the amounts of the interest on such Loans of such Class then due and payable to the respective such Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 1 contract

Samples: Credit Agreement (Journal Register Co)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from Lenders under Section 2.1.(a) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the fees under Section 2.09 Sections 3.6.(a) and 3.6.(b) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 2.12. or otherwise pursuant to this Agreement shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem, with provided that if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitments; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; (d) the Conversion and Continuation of Revolving Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 5.5.) shall be made pro rata among the Lenders according to the contrary contained herein, in amounts of their respective Revolving Loans and the event that then current Interest Period for each Lender's portion of each Revolving Loan of such Type shall be coterminous; (e) each prepayment of principal of Bid Rate Loans by the Borrower wishes pursuant to make a Multicurrency Borrowing Section 2.7.(b)(iii) shall be made for account of the Lenders then owed Bid Rate Loans pro rata in an Agreed Foreign Currency accordance with the respective unpaid principal amounts of the Bid Rate Loans then owing to each such Lender; and (f) the Multicurrency Commitments are fully utilizedLenders' participation in, and payment obligations in respect of, Swingline Loans under Section 2.3.(e), shall be in accordance with their respective Pro Rata Shares. All payments of principal, interest, fees and other amounts in respect of the Borrower may make a Borrowing under Swingline Loans shall be for the Dollar Commitments account of the Swingline Lender only (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely except to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as Lender shall have acquired a result of participating interest in any such prepayment Swingline Loan pursuant to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencySection 2.3.(e)).

Appears in 1 contract

Samples: Credit Agreement (Realty Income Corp)

Pro Rata Treatment. Except with respect to Bid Rate Loans made by any Lender or to the extent otherwise provided herein: (a) (i) each Borrowing of a Class borrowing from the Lenders under Section 2.01 shall be made from the Lenders of in such Classamounts as may be necessary so that, after giving effect to such borrowing, the outstanding Conventional Loans shall have been made pro rata by the Lenders based on their respective Commitment Percentages as then in effect, (ii) each payment of commitment fee Facility Fee or other fees under Section 2.09 Sections 2.04(a) and (b) shall be made for the account of the Lenders of the applicable Classpro rata according to their respective Commitment Percentages, and (iii) each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.03 shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; Global Commitment Percentages (ii) each Borrowing of or, if there is a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case contemporaneous and corresponding termination or reduction of the making amount of Loans) or their respective Loans of the Canadian Subcommitments, such Class that are amounts as may be necessary so that, after giving effect to be included in such Borrowing (in reduction, the case of conversions and continuations of Loans), subject to Section 2.02(eGlobal Commitment Percentages shall have been reduced pro rata); (iiib) each payment or prepayment of principal of Conventional Loans of a Class by the Borrower Company shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts amount of the Conventional Loans of such Class held by them the Lenders; (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (ivc) each payment of interest on Conventional Loans of a Class by the Borrower Company shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable on such Conventional Loans to the respective Lenders; provided however that, notwithstanding anything and (d) each reimbursement by the Company of disbursements under Letters of Credit shall be made for the account of the Lenders pro rata in accordance with the amounts of reimbursement obligations due and payable on such Letters of Credit to the contrary contained hereinrespective Lenders. If, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency on any day on which payments on account of one or more Bid Rate Loans are due, payments on account of Conventional Loans or on account of other items otherwise under this Agreement are also due and the Multicurrency Commitments are fully utilizedAgent has received insufficient funds to pay all amounts due and owing on such date, then the Borrower may make a Borrowing under Agent shall distribute all funds so received pro rata among the Dollar Commitments (if otherwise permitted hereunder) and may use Lenders in accordance with the proceeds of unpaid amounts due on such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyday.

Appears in 1 contract

Samples: Global Credit Agreement (United Meridian Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 2.109 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.062.067, Section 2.08 2.089 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e2.023(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(eSections 2.089(e) and (f)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 1 contract

Samples: Pledge and Security Agreement (THL Credit, Inc.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) , each Borrowing Borrowing, each payment or prepayment of a Class shall be made from the Lenders principal of such Classany Loan, each L/C Credit Extension, each payment of commitment fee under Section 2.09 shall be made for account interest, each payment of fees (other than administrative fees paid to the Lenders of Administrative Agent and fronting, documentary and processing fees paid to the applicable ClassL/C Issuer), each conversion or continuation of any Revolving Loans and each termination or reduction of in the amount of the Commitments of a Class under Section 2.06Revolving Committed Amount, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the relevant Lenders according in accordance with their Pro Rata Shares; provided that, if any Lender shall have failed to pay its Pro Rata Share of any Revolving Loan or fund or purchase its Participation Interest, then any amount to which such Lender would otherwise be entitled pursuant to this Section 3.7 shall instead be payable to the amounts of their respective Commitments Administrative Agent until the share of such Class Revolving Loan or such Participation Interest not funded or purchased by such Lender has been repaid, and the Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof, (i) apply any amounts thereafter received by the Administrative Agent for the account of such Lender and for the benefit of the Administrative Agent or the L/C Issuers to satisfy such Lender’s obligations to pay its Pro Rata Share of any Loan or fund or purchase its Participation Interest and/or (ii) hold any such amounts in a segregated account as cash collateral for, and application to, any future funding obligations of such Lender to pay its Pro Rata Share of any Loan or fund or purchase its Participation Interest; in the case of the making each of Loans(i) or their respective Loans of such Class that are to be included and (ii) above, in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class any order as determined by the Borrower Administrative Agent in its discretion. In the event any principal, interest, fee or other amount paid to any Lender pursuant to this Credit Agreement or any other Credit Document is rescinded or must otherwise be returned by the Administrative Agent, (a) such principal, interest, fee or other amount that had been satisfied by such payment shall be made for account revived, reinstated and continued in full force and effect as if such payment had not occurred and (b) such Lender shall, upon the request of the Lenders of Administrative Agent, repay to the Administrative Agent the amount so paid to such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (andLender, with respect interest for the period commencing on the date such payment is returned by the Administrative Agent until the date the Administrative Agent receives such repayment at a rate per annum equal to the pro rata treatment of prepayments between Classes, any Overnight Rate if repaid within two (2) Business Days after such prepayments shall be made in accordance with request and thereafter the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyBase Rate.

Appears in 1 contract

Samples: Credit Agreement (Public Service Co of New Mexico)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.062.07, Section 2.08 2.09 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders of such Class according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment of commitment fees under Section 2.10 shall be made for the account of the Lenders pro rata according to the average daily unutilized amounts of their respective Commitments; (iv) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders or such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them; and (v) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however provided, however, that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency 000000000000.00.XXXXXXXX US\20318313.19 Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower substantially concurrently therewith utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Barings BDC, Inc.)

Pro Rata Treatment. Except to the extent otherwise provided hereinherein (including, without limitation, Sections 2.02 and 2.07) and subject to the terms of the Security Agreement and the Intercreditor Agreement: (i) each Class A Borrowing of a Class shall be made from the Class A Lenders pro rata according to the amounts of such Classtheir respective Class A Commitments, each payment of commitment fee under Section 2.09 Class B Borrowing shall be made for account from the Class B Lenders pro rata according to the amounts of the Lenders of the applicable Class, their respective Class B Commitments and each termination or reduction of the amount of the Commitments of a Class under Section 2.06A-1 Loan, Section 2.08 or otherwise Class A-2 Loan, Class A-3 Loan and Class B Loan shall be applied to made by the respective Commitments of Class A-1 Lenders, Class A-2 Lenders, Class A-3 Lenders or Class B Lenders, as the Lenders of such Classcase may be, pro rata according to the amounts of their respective Class A-1 Commitments, Class A-2 Commitments, Class A-3 Commitments of such Classor Class B Commitments, as the case may be; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Class A Loans of a Class by the Borrower shall be made for account of the Class A Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Class A Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment or prepayment of interest on principal of Class B Loans of a Class by the Borrower shall be made for account of the Class B Lenders pro rata in accordance with the respective unpaid principal amounts of the Class B Loans held by them; and (iii) each payment of interest on Class A Loans by the Borrower shall be made for account of the Class A Lenders pro rata in accordance with the amounts of interest on such Class A Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything Class A Lenders and each payment of interest on Class B Loans by the Borrower shall be made for account of the Class B Lenders pro rata in accordance with the amounts of interest on such Class B Loans then due and payable to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyrespective Class B Lenders.

Appears in 1 contract

Samples: Secured Credit Agreement (Aspirational Consumer Lifestyle Corp.)

Pro Rata Treatment. Except to the extent otherwise provided herein: , (ia) each Borrowing of a Class Tranche A Term Loans shall be made from the Lenders of such Classby, each payment of commitment fee under Section 2.09 and principal interest and fees in respect thereof shall be made for account of paid or repaid to, the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Tranche A Lenders pro rata in accordance with their respective Tranche A Commitments and interest in Tranche A Loans; (b) Tranche B Term Loans shall be made by, and principal, interest and fees in respect thereof shall be paid or repaid to, the Tranche B Lenders pro rata in accordance with their respective Tranche B Commitments and interest in Tranche B Loans; (c) Tranche C Term Loans shall be made by, and principal, interest and fees in respect thereof shall be paid or repaid to, the Tranche C Lenders pro rata in accordance with their respective Tranche C Commitments and interest in Tranche C Loans; (d) RC Loans shall be made by, and principal, interest and fees in respect thereof shall be paid or repaid to, the RC Lenders pro rata in accordance with their respective RC Commitments and interest in RC Loans and (e) Tranche II Revolver Loans shall be made by, and principal, interest and fees in respect thereof shall be paid or repaid to the Tranche II Revolver Lenders pro rata in accordance with their respective Tranche II Revolver Commitments and interest in Tranche II Revolver Loans. Each participation of obligations in respect of Letters of Credit shall be allocated among, and each reimbursement of Drawings under Letters of Credit or letter of credit commissions shall be made for the account of, the RC Lenders pro rata in accordance with their respective amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyRC Commitments.

Appears in 1 contract

Samples: Credit Agreement (Genesis Health Ventures Inc /Pa)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing borrowing of a Class Revolving Loan from Lenders under Section 2.1 shall be made from the Lenders of such ClassLenders, each payment of commitment fee the Fees under Section 2.09 Sections 3.8(a) and 3.8(d) shall be made for account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.12 shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitment Percentages; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem; provided that, with if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitment Percentages in effect at the provisions time such Revolving Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by Lenders pro rata in accordance with their respective Commitment Percentages; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Revolving Loans of such Class then due and payable to the respective Lenders; provided however that(d) each payment of principal or interest under the Swing Line Subfacility shall be made for the account of Swing Line Lender and each other Lender purchasing a participation in the Swing Line Subfacility and shall be shared pro rata among such Lenders, notwithstanding anything as determined on any date of determination for any such Lender as the proportion which the Swing Principal Debt (or participations therein) owed to such Lender bears to the contrary contained hereinSwing Principal Debt owed to all Lenders; (e) each payment with respect to the LC Subfacility shall be made for the account of LC Issuer and each other Lender purchasing a participation in any LC and related reimbursement obligations and shall be shared pro rata among such Lenders, in as determined on any date of determination for any such Lender as the event that proportion which the Borrower wishes Principal Debt arising under the LC Subfacility (or participations therein) owed to make such Lender bears to the Principal Debt under the LC Subfacility owed to all Lenders; and (f) the making, Conversion, and Continuation of Revolving Loans of a Multicurrency Borrowing in an Agreed Foreign Currency particular Type (other than Conversions provided for by Section 4.4) shall be made pro rata among Lenders according to the amounts of their respective Commitment Percentages, and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds then current Interest Period for each Lender’s portion of each Revolving Loan of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyType shall be coterminous.

Appears in 1 contract

Samples: Credit Agreement (Allied Capital Corp)

Pro Rata Treatment. Except to as required under clause (d) of the extent otherwise provided herein: proviso of Section 2.05, Section 2.14, Section 2.15, or Section 2.16, (ia) each Committed Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction refinancing of the amount of the Commitments of any Borrowing with a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Committed Borrowing of a Class shall be allocated pro rata among the Lenders according Banks in accordance with their respective Available Commitments, (b) each payment of the Facility Fees and each reduction of the Commitments shall be allocated pro rata among the Banks in accordance with their respective Commitments, (c) each payment or prepayment of principal (other than any prepayment pursuant to Section 2.24(d)) of any Committed Borrowing and each payment of interest on the Loans comprising part of a Committed Borrowing shall be allocated pro rata among the Banks participating in such Borrowing in accordance with the respective principal amounts of their respective Commitments of outstanding Loans comprising such Class Borrowing, (d) each Foreign Currency Revolving Borrowing shall be allocated pro rata among the Banks participating in the case of the making of Loans) or such Borrowing, in accordance with their respective Loans of such Class that are Foreign Currency Bank Maximum Borrowing Amounts with respect to be included in such Borrowing the applicable Foreign Currency and (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiie) each payment or prepayment of principal of any Foreign Currency Revolving Borrowing and each payment of interest on the Loans comprising part of a Class by the Borrower Foreign Currency Revolving Borrowing shall be made for account of the Lenders of such Class allocated pro rata among the Banks participating in such Borrowing in accordance with the respective unpaid principal amounts of their outstanding Loans comprising such Borrowing. Except as required under clause (d) of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions proviso of Section 2.08(e)); and (iv) 2.05, each payment of interest on Loans of a Class by the Borrower any Competitive Borrowing shall be made for account of the Lenders allocated pro rata among the Banks participating in such Borrowing in accordance with the respective amounts of accrued and unpaid interest on their outstanding Competitive Loans comprising such Loans Borrowing. Each Bank agrees that in computing such Bank's portion of such Class then due and payable any Borrowing to be made hereunder, the respective Lenders; provided however that, notwithstanding anything to the contrary contained hereinAdministrative Agent may, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilizedits discretion, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds round each Bank's percentage of such Borrowing to prepay the Multicurrency Loans (without making next higher or lower whole dollar amount or the Equivalent Amount in the case of a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyCurrency Borrowing.

Appears in 1 contract

Samples: Credit Facility Agreement (Service Corporation International)

Pro Rata Treatment. Except Each repayment of principal and interest shall be allocated among Lenders in accordance with their respective Pro Rata Payment Percentage. Each Lender agrees that in computing such Lender's portion of any Advance to be made hereunder, Agent may, in its discretion, round each Lender's such Advance to the extent otherwise provided herein: (i) each Borrowing next higher or lower whole dollar amount. If any Lender shall, through the exercise of a Class right of banker's lien, set-off, counterclaim or otherwise, obtain payment with respect to its Loans which results in its receiving more than its Pro Rata Payment Percentage of any payments described above, then (A) such Lender shall be deemed to have simultaneously purchased from each of the other Lenders a share in such other Lender's Loans so that the amount of the Loans of all Lenders shall be pro rata as otherwise set forth above, (B) such Lender shall immediately pay to the other Lenders their Pro Rata Payment Percentage of the payments otherwise received as consideration for such purchase and (C) such other adjustments shall be made from time to time as shall be equitable to insure that all Lenders share such payments ratably. If all or any portion of any such excess payment is thereafter recovered from Lender which received the Lenders same, the purchase provided in this Section 2.8 shall be deemed to have been rescinded to the extent of such Classrecovery, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied without interest. Borrower expressly consents to the respective Commitments foregoing arrangements and agrees that each Lender so purchasing a portion of the Lenders another Lender's loans may exercise all rights of such Classpayment (including all rights of set-off, pro rata according to the amounts of their respective Commitments of such Class; (iibanker's lien or counterclaim) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to such portion as fully as if such Lender were the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans direct holder of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyportion.

Appears in 1 contract

Samples: Loan and Security Agreement (Silverleaf Resorts Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class Loan shall be made from by the Lenders of holding Commitments for such ClassLoan, each payment of commitment fee fees under Section 2.09 Sections 2.5 hereof and letter of credit fees under Subsection 2.7(c) hereof shall be made for the account of the Lenders of the applicable Classholding Revolving Commitments, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Classholding the applicable Commitments, pro rata according to the amounts of their respective Commitment Percentages (calculated with respect to the Commitments of such Classfor the Loans in questions only); (ii) each Borrowing b)the making, Conversion, and Continuation of Accounts of a Class particular Type (other than Conversions provided for by Section 6.4 hereof) shall be allocated made pro rata among the Lenders holding Accounts of such Type according to the amounts of their respective Commitment Percentages (calculated with respect to the Commitments of such Class (for the Loans in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(equestion only); (iii) each c)each payment or and prepayment of principal of or interest on Loans of a Class or Reimbursement Obligations by the Borrower shall be made to the Administrative Agent for the account of the Administrative Agent or the Lenders of holding such Class Loans or Reimbursement Obligations (or participation interests therein) pro rata in accordance with the respective unpaid principal amounts of the such Loans of such Class or participation interests held by them the Administrative Agent or such Lenders; provided that as long as no default in the payment of interest exists, payments of interest made when Lenders are holding different types of Accounts applicable to the same Loan as a result of the application of Section6.4, shall be made to the Lenders in accordance with the amount of interest owed to each; and (and, d)the Lenders holding Revolving Commitments (other than the Administrative Agent) shall purchase from the Administrative Agent participations in the Letters of Credit to the extent of their respective Commitment Percentages (calculated with respect to the pro rata treatment Revolving Commitments only). If at any time payment, in whole or in part, of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class amount distributed by the Borrower shall Administrative Agent hereunder is rescinded or must otherwise be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans restored or returned by Administrative Agent as a preference, fraudulent conveyance or otherwise under any bankruptcy, insolvency or similar law, then each Person receiving any portion of such Class then due and payable amount agrees, upon demand, to return the portion of such amount it has received to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyAdministrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Oreilly Automotive Inc)

Pro Rata Treatment. Except to the extent otherwise provided hereinherein each Tranche A Lender agrees that: (i) each Borrowing of a Class borrowing from the Tranche A Lenders under Section 2.01 and each continuation and conversion under Section 2.02 shall be made from the Tranche A Lenders of such Classpro rata in accordance with their Tranche A Percentage Share, each payment of commitment fee under Section 2.09 2.04(a) shall be made for account of the Tranche A Lenders of the applicable Classpro rata in accordance with their Tranche A Percentage Share, and each termination or reduction of the amount of the Commitments of a Class Tranche A Aggregate Maximum Credit Amounts under Section 2.06, Section 2.08 or otherwise 2.03(b) shall be applied to the respective Commitments Commitment of the Lenders of such Classeach Tranche A Lender, pro rata according to the amounts of their its respective Commitments of such ClassCommitment; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Tranche A Loans of a Class by the Borrower shall be made for account of the Tranche A Lenders of such Class pro rata in accordance with the respective unpaid principal amounts amount of the Tranche A Loans of such Class held by them the Tranche A Lenders; (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iviii) each payment of interest on Tranche A Loans of a Class by the Borrower shall be made for account of the Tranche A Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Tranche A Lenders; provided however thatand (iv) each reimbursement by the Borrower of disbursements under Letters of Credit shall be made for account of the Issuing Bank or, notwithstanding anything to if funded by the contrary contained hereinTranche A Lenders, pro rata for the account of the Tranche A Lenders, in accordance with the event that the Borrower wishes amounts of reimbursement obligations due and payable to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely each respective Tranche A Lender. Except to the extent that otherwise provided herein, each Tranche B Lender agrees that: (i) each borrowing from the Tranche B Lenders under Section 2.01 shall be made from the Tranche B Lenders pro rata in accordance with their Tranche B Percentage Share, each payment of commitment fees under Section 2.04(a)(ii) shall be made for account of the Tranche B Lenders pro rata in accordance with their Tranche B Percentage Share, and each termination or reduction of the amount of the Tranche B Aggregate Maximum Credit Amounts under Section 2.03(b) shall be applied to the Tranche B Commitment of each Tranche B Lender, pro rata according to the amounts of its respective Tranche B Commitment; (ii) each payment of principal of Tranche B Loans by the Borrower concurrently utilizes any Multicurrency Commitments shall be made available as a result for account of such prepayment to make the Tranche B Lenders pro rata in accordance with the respective unpaid principal amount of the Tranche B Loans held by the Tranche B Lenders and (subject iii) each payment of interest on Tranche B Loans by the Borrower shall be made for account of the Tranche B Lenders pro rata in accordance with the amounts of interest due and payable to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyrespective Tranche B Lenders.

Appears in 1 contract

Samples: Credit Agreement (Callon Petroleum Co)

Pro Rata Treatment. Except to the extent otherwise provided ------------------ herein: (ia) each Borrowing borrowing of Loans of a particular Class from the Lenders under Section 2.01 shall be made from the Lenders of such Classrelevant Lenders, each payment of commitment fee under Section 2.09 2.05 in respect of Commitments of a particular Class shall be made for account of the Lenders of the applicable Classrelevant Lenders, and each termination or reduction of the amount of the Commitments of a particular Class under Section 2.06, Section 2.08 or otherwise 2.04 shall be applied to the respective Commitments of such Class of the Lenders of such Classrelevant Lenders, pro --- rata according to the amounts of their respective Commitments of such Class; ---- provided, however, that Swing Loans shall be made only by, and interest thereon -------- ------- shall be paid by Borrower only to, the Swing Loan Lender (iisubject to such Lender's obligations in respect of any participation therein purchased by the other Revolving Credit Lenders as provided in Section 2.01(e)); (b) each Borrowing except as otherwise provided in Section 5.04, LIBOR Loans of a any Class having the same Interest Period shall be allocated pro rata among the relevant Lenders according --- ---- to the amounts of their respective Revolving Credit Commitments of such Class and Term Loan Commitments (in the case of the making of Loans) or their respective Revolving Credit Loans of such Class that are to be included in such Borrowing and Term Loans (in the case of conversions Conversions and continuations Continuations of Loans), subject to Section 2.02(e); (iiic) each payment or prepayment of principal of Revolving Credit Loans of a Class or Term Loans by the Borrower shall be made for account of the relevant Lenders of such Class pro --- rata in ---- accordance with the respective unpaid outstanding principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (ivd) each payment of interest on Revolving Credit Loans of a Class and Term Loans by the Borrower shall be made for account of the relevant Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then --- ---- due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 1 contract

Samples: Credit Agreement (Krasovec Frank P)

Pro Rata Treatment. Except to the extent otherwise provided hereinherein each Lender agrees that: (i) each Borrowing of a Class from the Lenders under Section 2.01 and each continuation and conversion under Section 2.02 shall be made from the Applicable Lenders of such Classpro rata in accordance with their US Tranche One Percentages, US Tranche Two Percentages or Canadian Tranche Percentages as the case may be, each payment of commitment fee fees under Section 2.09 2.04 shall be made for account of the Applicable Lenders of the applicable Classpro rata in accordance with such same percentages, and each termination or reduction of the amount of the Aggregate Commitments of a Class under Section 2.06, 2.03(b) or the Aggregate Canadian Tranche Commitments under Section 2.08 or otherwise 2.03(c) shall be applied to the respective Commitments US Tranche Commitment or Canadian Tranche Commitment, as applicable of the Lenders of such Classeach Applicable Lender, pro rata according to the amounts of their its respective US Tranche Commitment or Canadian Tranche Commitment, as applicable; provided that reductions of the US Tranche Commitments when the Aggregate Commitments are greater than $65,000,000 shall be applied pro rata according to the US Tranche Two Percentages and reductions of such Classthe US Tranche Commitments when the Aggregate Commitments are equal to or less than $65,000,000 shall be applied pro rata according to the US Tranche One Percentages; (ii) each Borrowing payment of a Class commitments fees under Section 2.04(a) shall be allocated pro rata among the Lenders according made to the amounts of their respective Commitments of each US Tranche Lender in accordance with such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e)section; (iii) each payment or prepayment of principal of Loans of a Class by the each Borrower shall be made for account of the Applicable Lenders of such Class pro rata in accordance with the respective unpaid principal amounts amount of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))Applicable Lenders; and (iv) each payment of interest on Loans of a Class by the each Borrower shall be made for account of the Applicable Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however thatand (v) each reimbursement by the US Borrower of disbursements under Letters of Credit shall be made for account of the Issuing Bank or, notwithstanding anything to if funded by the contrary contained hereinUS Tranche Lenders, pro rata for the account of the US Tranche Lenders, in accordance with the event amounts of reimbursement obligations due and payable to each respective US Tranche Lender; provided that if no Event of Default has occurred and is continuing, the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency reimbursement of the US Tranche Lenders for disbursements made under Letters of Credit and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds repayment of such Borrowing to prepay the Multicurrency US Tranche Loans (without making a ratable prepayment A) when the US Tranche Credit Exposure is less than or equal to $65,000,000 shall be applied pro rata in accordance with the Dollar LoansUS Tranche One Percentages and (B) solely to when the extent that US Tranche Credit Exposure is greater than $65,000,000 shall be applied pro rata in accordance with the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyUS Tranche Two Percentages.

Appears in 1 contract

Samples: Revolving Credit Agreement (Universal Compression Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing borrowing of a Class Revolving Loan from the Lenders under SECTION 2.1 shall be made from the Lenders of such ClassLenders, each payment of commitment fee the Fees under Section 2.09 SECTION 3.8(a) and 3.8(e) shall be made for account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise SECTION 2.12 shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitment Percentages; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem; provided that, with if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitment Percentages in effect at the provisions time such Revolving Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitment Percentages; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Revolving Loans of such Class then due and payable to the respective Lenders; provided however that(d) each payment of principal or interest under the Swing Line Subfacility shall be made for the account of Swing Line Lender and each other Lender purchasing a participation in the Swing Line Subfacility and shall be shared pro rata among such Lenders, notwithstanding anything as determined on any date of determination for any such Lender as the proportion which the Swing Principal Debt (or participations therein) owed to such Lender bears to the contrary contained hereinSwing Principal Debt owed to all Lenders; (e) each payment with respect to the LC Subfacility shall be made for the account of LC Issuer and each other Lender purchasing a participation in any LC and related reimbursement obligations and shall be shared pro rata among such Lenders, in as determined on any date of determination for any such Lender as the event that proportion which the Borrower wishes Principal Debt arising under the LC Subfacility (or participations therein) owed to make such Lender bears to the Principal Debt under the LC Subfacility owed to all Lenders; and (f) the making, Conversion, and Continuation of Revolving Loans of a Multicurrency Borrowing in an Agreed Foreign Currency particular Type (other than Conversions provided for by SECTION 4.4) shall be made pro rata among the Lenders according to the amounts of their respective Commitment Percentages, and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds then current Interest Period for each Lender's portion of each Revolving Loan of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyType shall be coterminous.

Appears in 1 contract

Samples: Credit Agreement (Allied Capital Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) prior to the Step-Up Date, each Borrowing of a Class shall be made from the Lenders of such Class, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Initial Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.07 shall be applied to the respective Initial Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Initial Commitments of such Class; (ii) on and after the Step-Up Date, each Borrowing shall be made from the Lenders, and each termination or reduction of the amount of the Commitments under Section 2.07 shall be applied to the respective Commitments of the Lenders, pro rata according to the amounts of their respective Commitments; (iii) each Borrowingeach Borrowing of a Class shall be allocated pro rata among the Lenders of such Class according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject provided that prior to Section 2.02(e)the Step-Up Date, each Borrowing shall be allocated pro rata among the Lenders according to the amounts of their respective Initial Commitments; (iv; (iii) each payment of commitment fee under Section 2.10 shall be made for account of the Lenders pro rata according to the average daily unused amounts of their respective Commitments; (viv) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (ivviv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective respectivesuch Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 1 contract

Samples: Secured Revolving Credit Agreement (Ares Capital Corp)

Pro Rata Treatment. (a) Except to the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Classas permitted or contemplated by Sections 2.11, 2.17, 2.18, 2.19 or 2.20 hereof, each payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable ClassLoan or other borrowing, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (andNotes, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans the Notes, each payment of a Class by any fee or other amount payable hereunder and each reduction of the Borrower Total Reducing Revolver Commitment or Total Revolving Credit Commitment shall be made for account of pro rata among the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable proportions that their Reducing Revolver Commitments bear to the respective Lenders; provided however that, notwithstanding anything Total Reducing Revolver Commitment or that their Revolving Credit Commitments bears to the contrary contained hereinTotal Revolving Credit Commitment, as the case may be. Notwithstanding the foregoing, in the event that any Lender notifies Agent in writing prior to the Borrower wishes date of a proposed Loan that such Lender will not on such date make such Lender's ratable portion of such Loan available to the Agent (any such Lender being hereinafter referred to as a "Non-Funding Lender"), then, in such event and subject to all other terms and conditions set forth herein, such Loan shall be made pro rata among all Lenders other than the Non-Funding Lender (such Lenders being hereinafter referred to as the "Funding Lenders"); provided, however, that (i) no Funding Lender shall be obligated to make a Multicurrency Borrowing in an Agreed Foreign Currency and any such Loan if the Multicurrency Commitments are fully utilized, the Borrower may Non-Funding Lender declined to make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds its ratable portion of such Borrowing Loan available to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available Agent as a result of the occurrence of any Default or Event of Default hereunder or nonsatisfaction of any conditions precedent to such prepayment loan, and (ii) no Funding Lender shall be obligated to make (subject any such Loan to the terms and conditions contained herein) a Multicurrency Borrowing Borrower in an Agreed Foreign Currencyaggregate principal amount in excess of such Lender's Reducing Revolver Commitment or Revolving Credit Commitment, as the case may be.

Appears in 1 contract

Samples: Credit Agreement (Ace Cash Express Inc/Tx)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing borrowing of Loans under a Class particular Facility from the Lenders under Section 2.01 hereof shall be made from the Lenders of such Classrelevant Lenders, each payment of commitment fee Facility Fees under Section 2.09 2.05 hereof in respect of the Revolving Credit Commitments shall be made for account of the Lenders of the applicable Classrelevant Revolving Credit Lenders, and each termination or reduction of the amount of the Commitments of under a Class particular Facility under Section 2.06, Section 2.08 or otherwise 2.04 hereof shall be applied to the respective Commitments under such Facility of the Lenders of such Classrelevant Lenders, pro rata according to the amounts of their respective Commitments of under such ClassFacility; (iib) each Borrowing of a Class except as otherwise provided in Section 5.04 hereof, Eurodollar Loans under any Facility having the same Interest Period shall be allocated pro rata among the relevant Lenders according to the amounts of their respective Commitments of under such Class Facility (in the case of the making of Loans) or their respective Loans of under such Class that are to be included in such Borrowing Facility (in the case of conversions Conversions and continuations Continuations of Loans), subject to Section 2.02(e); (iiic) each payment or prepayment of principal of Loans of under a Class particular Facility by the a Borrower shall be made for account of the relevant Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of under such Class Facility held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (ivd) each payment of interest on Loans of under a Class particular Facility by the relevant Borrower shall be made for account of the relevant Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that. Notwithstanding the foregoing, notwithstanding anything borrowings, payments and prepayments of Swingline Loans shall be made without regard to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds foregoing provisions of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencythis Section 4.02.

Appears in 1 contract

Samples: Credit Agreement (Commonwealth Industries Inc/De/)

Pro Rata Treatment. Except to the extent otherwise provided ------------------ herein: (ia) each Borrowing borrowing of a Class Syndicated Loans from the Lenders under Section 2.01 shall be made from the Lenders of such ClassLenders, each payment of commitment fee a Facility Fee under Section 2.09 2.06 and each payment of a Utilization Fee under Section 2.06 in respect of Commitments and Loans, respectively, shall be made for account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.05 shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (iib) each Borrowing the making, Conversion and Continuation of Syndicated Loans of a Class particular Type (other than Conversions provided for by Section 5.04) shall be allocated made pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Syndicated Loans) or their respective Syndicated Loans of such Class that are to be included in such Borrowing (in the case of conversions Conversions and continuations Continuations of Loans)) and the Interest Period for each Loan of such Type at the time of the making, subject to Section 2.02(eConversion or Confirmation thereof shall be coterminous with the Interest Period of each other Loan of such Type made, Converted or Continued at such time (other than Loans of such Type for which a different Interest Period has been chosen in accordance with the terms of this Agreement); (iiic) each payment or prepayment of principal of Syndicated Loans of a Class by the any Borrower shall be made for account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Syndicated Loans of such Class held by them (andthem, with provided that if -------- immediately prior to giving effect to any such payment in respect to of any Syndicated Loans the outstanding principal amount of the Syndicated Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments in effect at the provisions time such Loans were made (by reason of a failure of a Lender to make a Loan hereunder in the circumstances described in the last paragraph of Section 2.08(e13.04)), then such payment shall be applied to the Syndicated Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of the Syndicated Loans being held by the Lenders pro rata in accordance with their respective Commitments; and (ivd) each payment of interest on Syndicated Loans of a Class by the any Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to and (e) each payment or prepayment of principal of Loans by any Borrower shall be made for account of the contrary contained herein, Lenders pro rata in accordance with the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency respective unpaid principal amounts of each Loan then due and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencypayable.

Appears in 1 contract

Samples: Credit Agreement (Providian Bancorp Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: , (i) each Borrowing of a Class shall be made from the Lenders of such Classrelevant Lenders, each payment of commitment fee Commitment Fees under Section 2.09 shall be made for account of the relevant Lenders of the applicable Class, and each termination or reduction of the amount of the Revolving Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.06 shall be applied to the respective Revolving Commitments of the Lenders of such Classrelevant Lenders, pro rata according to the amounts of their respective Commitments Term Percentages, US Revolving Percentages or Multicurrency Revolving Percentages or their respective shares of such Classany Incremental Facility, as the case may be; (ii) (A) each Term Borrowing of a Class shall be allocated pro rata among the Term Lenders according to the amounts of their respective Commitments Term Percentages or their respective shares of such Class any Incremental Facility or their respective Term Loans under the applicable Facility (in the case of continuations of Term Loans) and (B) each Revolving Borrowing shall be allocated pro rata among the Revolving Lenders according to the amounts of their respective US Revolving Percentages or Multicurrency Revolving Percentages (in the case of the making of Revolving Loans) ), or their respective Revolving Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Revolving Loans), subject to Section 2.02(e)) as applicable; (iii) (A) each payment or prepayment of principal of Term Loans of a Class by the Borrower shall be made for account of the Term Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Term Loans of such Class held by them (and, with respect to under the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); applicable Facility and (ivB) each payment or prepayment of interest on principal of Revolving Loans of a Class by the Borrower shall be made for account of the applicable Revolving Lenders pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans held by them and (iv) (A) each payment of interest on Term Loans by the Company shall be made for account of the Term Lenders pro rata in accordance with the amounts of interest on such the Term Loans of such Class under the applicable Facility then due and payable to such Term Lenders and (B) each payment of interest on Revolving Loans shall be made for account of the respective applicable Revolving Lenders pro rata in accordance with the amounts of interest on the Revolving Loans then due and payable to such Revolving Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 1 contract

Samples: Credit Agreement (Corelogic, Inc.)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class Advance shall be made from by the Lenders of such Classunder Section 2.1, each payment of commitment the Commitment Fee under Section 2.10, each payment of the Tranche B Non-Payment Fee under Section 2.13 and each payment of the Letter of Credit fee under Section 2.09 3.5 (except as provided therein) shall be made for the account of the Lenders of the applicable ClassLenders, and pro rata according to their respective Commitments; (b) each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.12 shall be applied first to the Tranche B Commitments of the Lenders, pro rata according to the respective Tranche B Commitments and then to the Revolving Credit Commitments of the Lenders of such ClassLenders, pro rata according to the respective Revolving Credit Commitments; (c) the making, Conversion, and Continuation of Advances of a particular Type (other than Conversions provided for by Section 5.4) shall be made pro rata among the Lenders holding Advances of such Type according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiid) each payment or and prepayment of principal of Loans of a Class or interest on Advances by the Borrower or any Obligated Party of a particular Type of Loan shall be made to the Agent first for the account of the Lenders holding Tranche B Advances of such Class Type pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class Tranche B Advances held by them (andsuch Lenders, with respect to and then for the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders holding Revolving Credit Loan Advances of such Type of Loan pro rata in accordance with the respective unpaid principal amounts of interest on such Loans Advances of such Class then due Revolving Credit Loan held by such Lenders; (e) any and payable all other monies received by the Agent from any source other than pursuant to any of clauses (a) through (d) hereinabove (including, without limitation, from the Borrower or any Guarantor) to be applied first against the outstanding Tranche B Loan shall be for the pro rata benefit and account of the Lenders based upon each Lender's aggregate outstanding Tranche B Advances of all Types and to the respective aggregate outstanding Tranche B Advances of all Types of all Lenders; provided however that, notwithstanding anything then against the Primary Obligations shall be for the pro rata benefit and account of the Lenders based upon each Lender's aggregate outstanding Advances of all Types and LC Participations and SL Participations to the contrary contained hereinaggregate outstanding Advances of all Types and LC Participations and SL Participations of all Lenders and then against the Secondary Obligations shall be for the pro rata benefit and account of the Lenders based upon their respective unpaid amounts of the Secondary Obligations; and (f) the Lenders with Revolving Credit Commitments shall purchase from the Issuing Bank and the Swing Lender pursuant to Section 3.1 and Section 2.8 respectively, participations in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency Letters of Credit and the Multicurrency Commitments are fully utilizedrelated Letter of Credit Liabilities and the Swing Loans respectively, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing pro rata in an Agreed Foreign Currencyaccordance with their Revolving Credit Commitments.

Appears in 1 contract

Samples: Credit Agreement (Ezcorp Inc)

Pro Rata Treatment. Except to Each repayment of principal and interest on the extent otherwise provided herein: (i) each Borrowing of a Class shall be made from the Lenders of such Class, each Loan and payment of commitment fee under Section 2.09 shall be made for account of the Lenders of the applicable Class, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Commitments of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; (ii) each Borrowing of a Class Commitment Fee shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for account of the Lenders of such Class pro rata in accordance with their respective Pro Rata Percentage. Each Lender agrees that in computing such Lender's portion of any Advance to be made hereunder, the respective unpaid principal amounts Agent may, in its discretion, round each Lender's such Advance to the next higher or lower whole dollar amount. If any Lender shall, through the exercise of a right of banker's lien, set-off, counterclaim or otherwise, obtain payment with respect to its Loans which results in its receiving more than its Pro Rata Percentage of any payments described above, then (a) such Lender shall be deemed to have simultaneously purchased from each of the other Lenders a share in such other Lender's Loans so that the amount of the Loans of all Lenders shall be pro rata as otherwise set forth above, (b) such Class held by them Lender shall immediately pay to the other Lenders their Pro Rata Percentage of the payments otherwise received as consideration for such purchase and (andc) such other adjustments shall be made from time to time as shall be equitable to insure that all Lenders share such payments ratably. If all or any portion of any such excess payment is thereafter recovered from the Lender which received the same, the purchase provided in this Section 2.8 shall be deemed to have been rescinded to the extent of such recovery, without interest. Borrower expressly consents to the foregoing arrangements and agrees that each Lender so purchasing a portion of another Lender's loans may exercise all rights of payment (including all rights of set-off, banker's lien or counterclaim) with respect to such portion as fully as if such Lender were the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans direct holder of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencyportion.

Appears in 1 contract

Samples: Loan, Security and Agency Agreement (Silverleaf Resorts Inc)

Pro Rata Treatment. Except Subject to Section 6.04, if any Lender shall obtain any payment (whether voluntary, involuntary, through the extent otherwise provided herein: (i) each Borrowing exercise of a Class shall be made from the Lenders any right of such Classset-off, each payment of commitment fee under or otherwise), other than pursuant to Section 2.09 shall be made for account of the Lenders 2.09, 2.10 or 2.11 of the applicable ClassCredit Agreement, and each termination or reduction as a result of an assignment pursuant to Section 8.07 of the amount of the Commitments of a Class under Section 2.06, Section 2.08 applicable Credit Agreement or otherwise shall be applied any voluntary prepayment made prior to the respective Commitments occurrence of the Lenders of such Class, pro rata according to the amounts of their respective Commitments of such Class; any Default (iia) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for on account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)); and (iv) each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then Obligations due and payable to such Lender under the respective Lendersapplicable Credit Agreement and under the applicable Notes at such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations due and payable to such Lender at such time to (ii) the aggregate amount of the Obligations due and payable to all Lenders under the Credit Agreements and under the Notes at such time) of payments on account of the Obligations due and payable to all Lenders hereunder and under the Notes at such time obtained by all the Lenders at such time or (b) on account of Obligations owing (but not due and payable) to such Lender under the applicable Credit Agreement and under the applicable Notes at such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations owing to such Lender at such time to (ii) the aggregate amount of the Obligations owing (but not due and payable) to all Lenders under the Credit Agreements and under the Notes at such time) of payments on account of the Obligations owing (but not due and payable) to all Lenders under the Credit Agreements and under the Notes at such time obtained by all of the Lenders at such time, such Lender shall forthwith purchase from the other Lenders such interests or participating interests in the Obligations due and payable or owing to them, as the case may be, as shall be necessary to cause such purchasing Lender to share the excess payment ratably with each of them; provided however thatthat if all or any portion of such excess payment is thereafter recovered from such purchasing Lender, notwithstanding anything such purchase from each other Lender shall be rescinded and such other Lender shall repay to the contrary contained herein, in purchasing Lender the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely purchase price to the extent of such Lender’s ratable share (according to the proportion of (i) the purchase price paid to such Lender to (ii) the aggregate purchase price paid to all Lenders) of such recovery together with an amount equal to such Lender’s ratable share (according to the proportion of (i) the amount of such other Lender’s required repayment to (ii) the total amount so recovered from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered. The Borrower agrees that any Lender so purchasing an interest or participating interest from another Lender pursuant to this Section 2.05 may, to the fullest extent permitted by Applicable Law, exercise all its rights of payment (including the right of set-off) with respect to such interest or participating interest, as the case may be, as fully as if such Lender were the direct creditor of the Borrower concurrently utilizes any Multicurrency Commitments made available as a result in the amount of such prepayment to make (subject to interest or participating interest, as the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencycase may be.

Appears in 1 contract

Samples: Common Terms Agreement (Allegheny Energy Supply Co LLC)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class Loan shall be made from by the Lenders of such ClassBanks, each payment of commitment fee fees under Section 2.09 2.5 shall be made for the account of the Lenders of the applicable ClassBanks, and each termination or reduction of the amount of the Revolving Commitments of a Class under Section 2.06, Section 2.08 or otherwise shall be applied to the respective Revolving Commitments of the Lenders of such ClassBanks, pro rata according to the amounts of their respective Commitments of such ClassCommitment Percentages; (iib) each Borrowing the making, Conversion, and Continuation of Accounts of a Class particular Type (other than Conversions provided for by Section 7.4) shall be allocated made pro rata among the Lenders Banks holding Accounts of such Type according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e)Commitment Percentages; (iiic) each payment or and prepayment of principal of or interest on Loans of a Class by the Borrower or Reimbursement Obligations shall be made to the Agent for the account of the Lenders of Agent or the Banks holding such Class Loans or participation interests in the Reimbursement Obligations, as applicable, pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class Loans, Reimbursement Obligations or participation interests held by them such Banks; (and, with respect to the pro rata treatment d) proceeds of prepayments between Classes, any such prepayments Collateral shall be made in accordance with the provisions of Section 2.08(e)); and (iv) shared first, by each payment of interest on Loans of a Class by the Borrower shall be made for account of the Lenders Agent and the Banks pro rata in accordance with the respective unpaid amounts of interest on such Loans of such Class the Obligations then due the Agent and payable to each such Bank and the respective Lendersaggregate amount available for drawing under all outstanding Letters of Credit which Agent or such Bank is obligated to fund until paid in full or fully cash collateralized and then shall be shared with any other Secured Party pro rata in accordance with the amount of the Obligations owed to each; provided however that, notwithstanding anything to and (e) the contrary contained herein, Banks (other than the Agent) shall purchase from the Agent participations in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds Letters of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely Credit to the extent that of their respective Commitment Percentages. If at any time payment, in whole or in part, of any amount distributed by the Borrower concurrently utilizes any Multicurrency Commitments made available Agent hereunder is rescinded or must otherwise be restored or returned by the Agent as a result preference, fraudulent conveyance, or otherwise under any bankruptcy, insolvency, or similar law, then each Person receiving any portion of such prepayment amount agrees, upon demand, to make (subject return the portion of such amount it has received to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencyAgent.

Appears in 1 contract

Samples: Credit Agreement (Tufco Technologies Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing borrowing of Loans under a Class particular Facility from the Lenders under Section 2.01 hereof shall be made from the Lenders of such Classrelevant Lenders, each payment of commitment fee Non-Utilization Fee under Section 2.09 2.05 hereof in respect of Commitments under a particular Facility shall be made for account of the Lenders of the applicable Classrelevant Lenders, and each termination or reduction of the amount of the Commitments of under a Class particular Facility under Section 2.06, Section 2.08 or otherwise 2.04 hereof shall be applied to the respective Commitments under such Facility of the Lenders of such Classrelevant Lenders, pro rata according to the amounts of their respective Commitments of under such ClassFacility; (iib) each Borrowing of a Class except as otherwise provided in Section 5.04 hereof, Eurodollar Loans under any Facility having the same Interest Period shall be allocated pro rata among the relevant Lenders according to the amounts of their respective Commitments of under such Class Facility (in the case of the making of Loans) or their respective Loans of under such Class that are to be included in such Borrowing Facility (in the case of conversions Conversions and continuations Continuations of Loans), subject to Section 2.02(e); (iiic) each payment or prepayment of principal of Loans of under a Class particular Facility by the a Borrower shall be made for account of the relevant Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of under such Class Facility held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (ivd) each payment of interest on Loans of under a Class particular Facility by the relevant Borrower shall be made for account of the relevant Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that. Notwithstanding the foregoing, notwithstanding anything borrowings, payments and prepayments of Swingline CREDIT AGREEMENT Loans shall be made without regard to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds foregoing provisions of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currencythis Section 4.02.

Appears in 1 contract

Samples: Credit Agreement (Commonwealth Aluminum Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: (i) each Revolving Borrowing of a Class shall be made from the Lenders of such ClassRevolving Lenders, each payment of commitment fee the Unused Line Fee under Section 2.09 2.11 shall be made for account of the Lenders Revolving Lenders, each payment of the applicable Class, Letter of Credit Fees under Section 2.11 shall be made for account of the Revolving Lenders and each termination or reduction of the amount of the Revolving Commitments of a Class under Section 2.06, Section 2.08 or otherwise 1.7 shall be applied to the respective Revolving Commitments of the Lenders of such ClassRevolving Lenders, pro rata according to the amounts of their respective Commitments of such ClassRevolving Commitments; (ii) each Revolving Borrowing of a Class shall be allocated pro rata among the Revolving Lenders according to the amounts of their respective Revolving Commitments of such Class (in the case of the making of Revolving Loans) or their respective Revolving Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for account of the Revolving Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (iv) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for account of the Revolving Lenders pro rata in accordance with the amounts of interest on such Revolving Loans of such Class then due and payable to the respective Revolving Lenders; provided however that, notwithstanding anything (v) each Term Loan Borrowing shall be made from the Term Lenders pro rata according to the contrary contained herein, amounts of their respective Term Loan Commitments; (vi) each Term Loan Borrowing shall be allocated pro rata among the Term Lenders according to the amounts of their respective Term Loan Commitments (in the event that case of the making of the Term Loans) or their respective portions of the Term Loans (in the case of conversions and continuations of the Term Loans); (vii) each payment or prepayment of principal of the Term Loans by the Borrower wishes to make a Multicurrency Borrowing shall be made for account of the Term Lenders pro rata in an Agreed Foreign Currency accordance with the respective unpaid principal amounts of the Term Loans held by them; and (viii) each payment of interest on the Multicurrency Commitments are fully utilized, Term Loans by the Borrower may make a Borrowing under shall be made for account of the Dollar Commitments (if otherwise permitted hereunder) Term Lenders pro rata in accordance with the amounts of interest on the Term Loans then due and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment payable to the Dollar Loansrespective Term Lenders. For the avoidance of doubt, (x) solely to all of the extent that Secured Obligations of the Borrower concurrently utilizes any Multicurrency Commitments made available as are guarantied by the Guarantors under Loan Documents on a result pari passu basis and (y) all of such prepayment to make (subject to the terms and conditions contained herein) Secured Obligations are secured by all Collateral on a Multicurrency Borrowing in an Agreed Foreign Currencypari passu basis.

Appears in 1 contract

Samples: Credit Agreement (Macerich Co)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing borrowing of Loans of a particular Class from the Lenders under Section 2.01 hereof shall be made from the Lenders of such Classrelevant Lenders, each payment of commitment fee under Section 2.09 2.05 hereof in respect of Commitments of a particular Class shall be made for account of the Lenders of the applicable Classrelevant Lenders, and each termination or reduction of the amount of the Commitments of a particular Class under Section 2.06, Section 2.08 or otherwise 2.04 hereof shall be applied to the respective Commitments of such Class of the Lenders of such Classrelevant Lenders, pro rata according to the amounts of their respective Commitments of such Class; (iib) each Borrowing the making, Conversion and Continuation of Revolving Credit Loans and Term Loans of a particular Type (other than Conversions provided for by Section 5.04 hereof) shall be made pro rata among the relevant Lenders according to the amounts of their respective Revolving Credit and Term Loan Commitments (in the case of making of Loans) or their respective Revolving Credit Loans and Term Loans (in the case of Conversions and Continuations of Loans), except as provided in Section 5.04 hereof, Eurodollar Loans of each Class having the same Interest Period shall be allocated pro rata among the Lenders holding the relevant Commitments or Loans according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions Conversions and continuations Continuations of Loans), subject to Section 2.02(e)) ; (iiic) each payment or prepayment of principal of Revolving Credit Loans of a Class or Term Loans by the Borrower Company shall be made for account of the relevant Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the prepayments of Term Loans, pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e)among Term Loan A and Term Loan B); and (ivd) each payment of interest on Revolving Credit Loans of a Class and Term Loans by the Borrower Company shall be made for account of the relevant Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that, notwithstanding anything to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency.

Appears in 1 contract

Samples: Credit Agreement (Triarc Companies Inc)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from the Lenders under Section 2.1. (a) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the Fees under Section 2.09 3.6.(a) and the first sentence of Section 3.6.(b) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 2.10. or otherwise shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Revolving Loans of such Class held by them (andthem, with provided that if immediately prior to giving effect to any such payment in respect to of any Revolving Loans the outstanding principal amount of the Revolving Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Revolving Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Revolving Loans being held by the Lenders pro rata in accordance with their respective Commitments; and (ivc) each payment of interest on Revolving Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; (d) the making, Conversion and Continuation of Revolving Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 4.5.) shall be made pro rata among the Lenders according to the contrary contained herein, amounts of their respective Commitments (in the event that case of making of Loans) or their respective Loans (in the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency case of Conversions and Continuations of Loans) and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds then current Interest Period for each Lender's portion of each Loan of such Borrowing to prepay Type shall be coterminous; and (e) the Multicurrency Lenders' participation in, and payment obligations in respect of, Letters of Credit under Section 2.2. and Swingline Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing under Section 2.12., shall be pro rata in an Agreed Foreign Currencyaccordance with their respective Commitments.

Appears in 1 contract

Samples: Credit Agreement (Serologicals Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: , (i) each Borrowing of a Class from the Lenders under Section 2.01 hereof shall be made from the Lenders of such Classrelevant Lenders, each payment of commitment fee fees under Section 2.09 2.11 hereof in respect of Commitments shall be made for account of the Lenders of the applicable Classrelevant Lenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise hereof shall be applied to the respective Commitments of the Lenders of such Classrelevant Lenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class Loans shall be allocated pro rata among the relevant Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iii) each payment or prepayment by the Borrower of principal of Loans of a Class by the Borrower shall be made for account of the relevant Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (and, with respect to the pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with the provisions of Section 2.08(e))them; and (iv) each payment by the Borrower of interest on Loans of a Class by the Borrower shall be made for account of the relevant Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; provided however that. In computing any amount under this Section 2.17(c), notwithstanding anything fractional amounts shall be treated such that (i) for an amount to be distributed to any Lender which is not the Administrative Agent (the “Non-Agent Lender”), any amount less than one cent shall be rounded down and (ii) for an amount to be distributed to a Lender who is the Administrative Agent (the “Agent Lender”), such amount shall be the difference between the total amount to be distributed and the aggregate amount to be distributed to the contrary contained herein, in the event that the Borrower wishes to make a Multicurrency Borrowing in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilizedNon-Agent Lenders (if there is no Agent Lender, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment reference to the Dollar Agent Lender shall be read to reference the Lender having the largest outstanding amount of Commitment and Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign Currency).

Appears in 1 contract

Samples: Credit Agreement (SPRINT Corp)

Pro Rata Treatment. Except to the extent otherwise provided herein: (ia) each Borrowing of a Class borrowing from Lenders under Section 2.1 and 2.4(e) shall be made from the Lenders of such ClassLenders, each payment of commitment fee the fees under Section 2.09 Sections 3.5(a), 3.5(b) and 3.5(c) shall be made for the account of the Lenders of the applicable ClassLenders, and each termination or reduction of the amount of the Commitments of a Class under Section 2.06, Section 2.08 or otherwise 2.15 shall be applied to the respective Commitments of the Lenders of such ClassLenders, pro rata according to the amounts of their respective Commitments of such ClassCommitments; (ii) each Borrowing of a Class shall be allocated pro rata among the Lenders according to the amounts of their respective Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans), subject to Section 2.02(e); (iiib) each payment or prepayment of principal of Loans of a Class by the Borrower shall be made for the account of the Lenders of such Class pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class held by them (andthem, with provided that if immediately prior to giving effect to any such payment in respect to of any Loans the outstanding principal amount of the Loans shall not be held by the Lenders pro rata treatment of prepayments between Classes, any such prepayments shall be made in accordance with their respective Commitments in effect at the provisions time such Loans were made, then such payment shall be applied to the Loans in such manner as shall result, as nearly as is practicable, in the outstanding principal amount of Section 2.08(e))the Loans being held by the Lenders pro rata in accordance with their respective Commitments; and (ivc) each payment of interest on Loans of a Class by the Borrower shall be made for the account of the Lenders pro rata in accordance with the amounts of interest on such Loans of such Class then due and payable to the respective Lenders; (d) the Conversion and Continuation of Loans of a particular Type (other than Conversions provided however that, notwithstanding anything for by Section 5.1) shall be made pro rata among the Lenders according to the contrary contained hereinamounts of their respective Loans and the then current Interest Period for each Lender’s portion of each Loan of such Type shall be coterminous and (e) the participation by Lenders in, payment obligations in respect of, Letters of Credit under Section 2.4 shall be made pro rata in accordance with their respective Commitment Percentages. Any payment or prepayment of principal or interest made (i)(A) during the existence of a Default or Event of Default or (B) pursuant to Section 2.10(b)(ii), shall be made for the account of the Lenders in accordance with the order set forth in Section 11.5 and (ii) pursuant to Section 2.10(b)(i), shall be made for the account of the Lenders holding Commitments (or, if the Commitments have been terminated, holding Loans, in accordance with the event that the Borrower wishes to make a Multicurrency Borrowing order set forth in an Agreed Foreign Currency and the Multicurrency Commitments are fully utilized, the Borrower may make a Borrowing under the Dollar Commitments (if otherwise permitted hereunder) and may use the proceeds of such Borrowing to prepay the Multicurrency Loans (without making a ratable prepayment to the Dollar Loans) solely to the extent that the Borrower concurrently utilizes any Multicurrency Commitments made available as a result of such prepayment to make (subject to the terms and conditions contained herein) a Multicurrency Borrowing in an Agreed Foreign CurrencySection 11.5).

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Lodging Trust)

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