Common use of Ratable Advances Clause in Contracts

Ratable Advances. (a) Each Revolving Credit Ratable Advance hereunder shall consist of borrowings made from the several Revolving Credit Lenders in their respective Total Revolving Credit Ratable Shares thereof. For the avoidance of doubt, the parties agree that each Revolving Credit Ratable Advance shall be made on a ratable basis among all Series of Revolving Credit Facilities then in effect based on the Revolving Credit Commitments of each such Series. The aggregate outstanding amount of Competitive Bid Advances shall reduce the availability of Revolving Credit Advances as provided in Section 2.1.1 but shall not otherwise affect the obligations of the Revolving Credit Lenders to make Revolving Credit Ratable Advances, and (without limitation of the foregoing) no Competitive Bid Loan shall reduce the obligation of the Revolving Credit Lender making such Competitive Bid Loan to lend its applicable Total Revolving Credit Ratable Share of any future Revolving Credit Ratable Advances. (b) Subject to the terms and conditions set forth herein and in the applicable Incremental Facility Agreement, each Incremental Term Lender severally agrees to make, on the date specified in the applicable Incremental Facility Agreement, Incremental Term Loans to the Borrower in an amount specified in the applicable Incremental Facility Agreement. Amounts borrowed under this Section 2.21(b) and repaid or prepaid may not be reborrowed. Each Incremental Term Advance hereunder shall consist of borrowings made from one or more Incremental Term Lenders pursuant to an Incremental Facility Agreement. (c) Notwithstanding Section 2.10(b) hereof, with respect to any Series of Incremental Term Facility or portion thereof, (1) any outstanding Incremental Term Loans thereunder and all other unpaid Obligations thereunder shall be paid in full by the Borrower on the maturity date applicable to such Incremental Term Facility or such portion of the Incremental Term Loans thereunder; and (2) all outstanding Incremental Term Loans thereunder held by, and all other unpaid Obligations thereunder payable to, an Incremental Term Loan Declining Lender thereunder shall be paid in full by the Borrower on the maturity date applicable to any Incremental Term Loan Declining Lender’s Incremental Term Loans.