Proceeds of Loan Being Repaid. If the Banks make a Loan on a day on which all or any part of an outstanding Loan from the Banks is to be repaid, each Bank shall apply the proceeds of its new Loan to make such repayment and only an amount equal to the difference (if any) between the amount being borrowed and the amount being repaid shall be made available by such Bank to First Union as provided in clause (c).
Appears in 4 contracts
Samples: Credit Agreement (Aerocentury Corp), Credit Agreement (Willis Lease Finance Corp), Credit Agreement (Willis Lease Finance Corp)
Proceeds of Loan Being Repaid. If the Banks make a Loan on a day on which all or any part of an outstanding Loan from the Banks is to be repaid, each Bank shall apply the proceeds of its new Loan to make such repayment and only an amount equal to the difference (if any) between the amount being borrowed and the amount being repaid shall be made available by such Bank to First Union the Administrative Agent as provided in clause (c).
Appears in 2 contracts
Samples: Credit Agreement (Willis Lease Finance Corp), Credit Agreement (Willis Lease Finance Corp)
