Common use of Provisions Related to Extended Commitments Clause in Contracts

Provisions Related to Extended Commitments. If the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche or tranches of Commitments is or are in effect with a longer maturity date, then on the earliest occurring maturity date all then outstanding Swingline Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swingline Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.06(m)), there shall exist sufficient unutilized Extended Commitments so that the respective outstanding Swingline Loans could be incurred pursuant the Extended Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and same shall be deemed to have been incurred solely pursuant to the relevant Extended Commitments, and such Swingline Loans shall not be so required to be repaid in full on such earliest maturity date. If the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche or tranches of Commitments is or are in effect with a longer maturity date, then on the earliest occurring maturity date all then outstanding Overadvances shall be repaid in full on such date (and there shall be no adjustment to the participations in such Overadvances as a result of the occurrence of such maturity date),

Appears in 2 contracts

Samples: Credit Agreement (G Iii Apparel Group LTD /De/), Credit Agreement (Kate Spade & Co)

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Provisions Related to Extended Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche Tranche of Commitments at a time when another tranche occurs prior to the expiration of any Letter of Credit, then (i) if one or tranches more other Tranches of Commitments is or in respect of which the Maturity Date shall not have occurred are then in effect with a longer maturity dateeffect, then on the earliest occurring maturity date all then outstanding Swingline Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swingline Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Loans and any reallocation of Letter Letters of Credit participations as contemplated in Section 2.06(m)), there shall exist sufficient unutilized Extended Commitments so that the respective outstanding Swingline Loans could be incurred pursuant the Extended Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and same shall automatically be deemed to have been incurred solely issued (including for purposes of the obligations of the Lenders to purchase participations therein and to make Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Commitments in respect of such non-terminating Tranches up to an aggregate amount not to exceed the aggregate principal amount of the unused Commitments thereunder at such time (it being understood that no partial amount of any Letter of Credit may be so reallocated) and to the extent any Letters of Credit are not able to be reallocated pursuant to this clause (l) and there are outstanding Loans under the non-terminating Tranches, the Borrower agrees to repay all such Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (l)) or (ii) to the extent not reallocated pursuant to the relevant Extended Commitmentsimmediately preceding clause (i), and the Borrower shall Cash Collateralize any such Swingline Loans shall not be so required to be repaid Letter of Credit in full on such earliest maturity date. If the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche or tranches of Commitments is or are in effect accordance with a longer maturity date, then on the earliest occurring maturity date all then outstanding Overadvances shall be repaid in full on such date (and there shall be no adjustment Section 2.04 but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations in such Overadvances as a result pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given Tranche of Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Lenders in any Letter of Credit issued before such maturity date),Maturity Date.

Appears in 1 contract

Samples: Revolving Credit Agreement (EngageSmart, Inc.)

Provisions Related to Extended Commitments. If the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche or tranches of Commitments is or are in effect with a longer maturity date, then on the earliest occurring maturity date all then outstanding Swingline Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swingline Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.06(m)), there shall exist sufficient unutilized Extended Commitments so that the respective outstanding Swingline Loans could be incurred pursuant the Extended Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and same shall be deemed to have been incurred solely pursuant to the relevant Extended Commitments, and such Swingline Loans shall not be so required to be repaid in full on such earliest maturity date. If the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche or tranches of Commitments is or are in effect with a longer maturity date, then on the earliest occurring maturity date all then outstanding Overadvances shall be repaid in full on such date (and there shall be no adjustment to the participations in such Overadvances as a result of the occurrence of such maturity date),.

Appears in 1 contract

Samples: Credit Agreement (Fifth & Pacific Companies, Inc.)

Provisions Related to Extended Commitments. If the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Commitments is or are in effect with a longer maturity date, then on respect of which the earliest occurring maturity date all shall not have occurred are then outstanding Swingline Loans shall be repaid in full on effect, such date (and there shall be no adjustment to the participations in such Swingline Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Loans and any reallocation of Letter Letters of Credit participations as contemplated in Section 2.06(m)), there shall exist sufficient unutilized Extended Commitments so that the respective outstanding Swingline Loans could be incurred pursuant the Extended Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and same shall automatically be deemed to have been incurred solely issued (including for purposes of the obligations of the Lenders to purchase participations therein and to make Loans and payments in respect thereof pursuant to Section 2.06(d)) under (and ratably participated in by Lenders pursuant to) the relevant Extended CommitmentsCommitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (m), the Borrower shall cash collateralize any such Letter of Credit in accordance with Section 2.06(j). If, for any reason, such cash collateral is not provided or the reallocation does not occur, the Lenders under the maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (m) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Commitments shall have no effect upon (and such Swingline Loans shall not be so required to be repaid diminish) the percentage participations of the Lenders in full on any Letter of Credit issued before such earliest maturity date. If Commencing with the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche or tranches Commitments, the sublimit for Letters of Commitments is or are in effect with a longer maturity date, then on the earliest occurring maturity date all then outstanding Overadvances Credit shall be repaid in full on such date (and there shall be no adjustment to agreed with the participations in such Overadvances as a result of Lenders under the occurrence of such maturity date),extended tranches.

Appears in 1 contract

Samples: Credit Agreement (Fifth & Pacific Companies, Inc.)

Provisions Related to Extended Commitments. If the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Commitments is or are in effect with a longer maturity date, then on respect of which the earliest occurring maturity date all shall not have occurred are then outstanding Swingline Loans shall be repaid in full on effect, such date (and there shall be no adjustment to the participations in such Swingline Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Loans and any reallocation of Letter Letters of Credit participations as contemplated in Section 2.06(m)), there shall exist sufficient unutilized Extended Commitments so that the respective outstanding Swingline Loans could be incurred pursuant the Extended Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and same shall automatically be deemed to have been incurred solely issued (including for purposes of the obligations of the Lenders to purchase participations therein and to make Loans and payments in respect thereof pursuant to Section 2.06(d)) under (and ratably participated in by Lenders pursuant to) the relevant Extended CommitmentsCommitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Borrowers shall cash collateralize any such Letter of Credit in accordance with Section 2.06(j). If, for any reason, such cash collateral is not provided or the reallocation does not occur, the Lenders under the maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Commitments shall have no effect upon (and such Swingline Loans shall not be so required to be repaid diminish) the percentage participations of the Lenders in full on any Letter of Credit issued before such earliest maturity date. If Commencing with the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche or tranches Commitments, the sublimit for Letters of Commitments is or are in effect with a longer maturity date, then on the earliest occurring maturity date all then outstanding Overadvances Credit shall be repaid in full on such date (and there shall be no adjustment to agreed with the participations in such Overadvances as a result of Lenders under the occurrence of such maturity date),extended tranches.

Appears in 1 contract

Samples: Credit Agreement (G Iii Apparel Group LTD /De/)

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Provisions Related to Extended Commitments. If the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Commitments is or are in effect with a longer maturity date, then on respect of which the earliest occurring maturity date all shall not have occurred are then outstanding Swingline Loans shall be repaid in full on effect, such date (and there shall be no adjustment to the participations in such Swingline Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Loans and any reallocation of Letter Letters of Credit participations as contemplated in Section 2.06(m)), there shall exist sufficient unutilized Extended Commitments so that the respective outstanding Swingline Loans could be incurred pursuant the Extended Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and same shall automatically be deemed to have been incurred solely issued (including for purposes of the obligations of the Lenders to purchase participations therein and to make Loans and payments in respect thereof pursuant to Section 2.06(d)) under (and ratably participated in by Lenders pursuant to) the relevant Extended CommitmentsCommitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Borrower shall cash collateralize any such Letter of Credit in accordance with Section 2.06(j). If, for any reason, such cash collateral is not provided or the reallocation does not occur, the Lenders under the maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Commitments shall have no effect upon (and such Swingline Loans shall not be so required to be repaid diminish) the percentage participations of the Lenders in full on any Letter of Credit issued before such earliest maturity date. If Commencing with the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche or tranches Commitments, the sublimit for Letters of Commitments is or are in effect with a longer maturity date, then on the earliest occurring maturity date all then outstanding Overadvances Credit shall be repaid in full on such date (and there shall be no adjustment to agreed with the participations in such Overadvances as a result of Lenders under the occurrence of such maturity date),extended tranches.

Appears in 1 contract

Samples: Credit Agreement (Kate Spade & Co)

Provisions Related to Extended Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche Tranche of Commitments at a time when another tranche occurs prior to the expiration of any Letter of Credit, then (i) if one or tranches more other Tranches of Commitments is or in respect of which the Maturity Date shall not have occurred are then in effect with a longer maturity dateeffect, then on the earliest occurring maturity date all then outstanding Swingline Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swingline Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Loans and any reallocation of Letter Letters of Credit participations as contemplated in Section 2.06(m)), there shall exist sufficient unutilized Extended Commitments so that the respective outstanding Swingline Loans could be incurred pursuant the Extended Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and same shall automatically be deemed to have been incurred solely issued (including for purposes of the obligations of the Lenders to purchase participations therein and to make Loans and payments in respect thereof pursuant to this Section 2.03‎2.03) under (and ratably participated in by Lenders pursuant to) the Commitments in respect of such non-terminating Tranches up to an aggregate amount not to exceed the aggregate principal amount of the unused Commitments thereunder at such time (it being understood that no partial amount of any Letter of Credit may be so reallocated) and to the extent any Letters of Credit are not able to be reallocated pursuant to this clause (l)‎(l) and there are outstanding Loans under the non-terminating Tranches, the Borrower agrees to repay all such Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (l)‎(l)) or (ii) to the extent not reallocated pursuant to the relevant Extended Commitmentsimmediately preceding clause (i), and the Borrower shall Cash Collateralize any such Swingline Loans shall not be so required to be repaid Letter of Credit in full on such earliest maturity date. If the maturity date shall have occurred in respect of any tranche of Commitments at a time when another tranche or tranches of Commitments is or are in effect accordance with a longer maturity date, then on the earliest occurring maturity date all then outstanding Overadvances shall be repaid in full on such date (and there shall be no adjustment Section 2.04‎2.04 but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations in such Overadvances as a result pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given Tranche of Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Lenders in any Letter of Credit issued before such maturity date),Maturity Date.

Appears in 1 contract

Samples: Revolving Credit Agreement (EngageSmart, Inc.)

Provisions Related to Extended Commitments. If the maturity date shall have occurred Revolving Termination Date in respect of any tranche Tranche of Revolving Commitments at a time when another tranche or tranches occurs prior to the expiration of Commitments is or are in effect with a longer maturity dateany Letter of Credit, then on (i) if one or more other Tranches of Revolving Commitments in respect of which the earliest occurring maturity date all Revolving Termination Date shall not have occurred are then outstanding Swingline Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swingline Loans as a result of the occurrence of such maturity date); providedeffect, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Loans and any reallocation of each unexpired Letter of Credit participations as contemplated in Section 2.06(m)), there shall exist sufficient unutilized Extended Commitments so that the respective outstanding Swingline Loans could be incurred pursuant the Extended Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and same shall automatically be deemed to have been incurred solely issued (including for purposes of the obligations of the Revolving Lenders to purchase participations therein and to make Revolving Loans and payments in respect thereof pursuant to this Section 3.11) under (and ratably participated in by Lenders pursuant to) the relevant Extended Commitments, and such Swingline Loans shall not be so required to be repaid in full on such earliest maturity date. If the maturity date shall have occurred Revolving Commitments in respect of each such non-terminating Tranches up to an aggregate amount for any tranche such Tranche not to exceed the aggregate amount of the unutilized Revolving Commitments thereunder at a such time when another tranche or tranches (it being understood that no partial face amount of Commitments is or any Letter of Credit may be so reallocated) and to the extent any unexpired Letters of Credit are in effect with a longer maturity date, then on the earliest occurring maturity date all then outstanding Overadvances shall not able to be repaid in full on such date reallocated pursuant to this clause (i) and there shall be no adjustment are outstanding Revolving Loans under any non-terminating Tranche, the Borrower agrees to repay, ratably with respect to any such Tranche, all such Revolving Loans (or such lesser amount as is necessary to enable a reallocation of all unexpired Letters of Credit pursuant to this clause (i)) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Borrower shall Cash Collateralize any such Letter of Credit in a manner reasonably satisfactory to the Administrative Agent and the applicable Issuing Lender but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations in such Overadvances as a result pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Revolving Termination Date with respect to a given Tranche of Revolving Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Revolving Lenders of any other Tranche in any Letter of Credit issued before such maturity date),Revolving Termination Date.

Appears in 1 contract

Samples: Credit Agreement (FTC Solar, Inc.)

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