Common use of Reallocation Mechanism Clause in Contracts

Reallocation Mechanism. At any time after the Dutch Closing Date, Borrower Agent may request that Dutch Lenders and U.S. Lenders change the then current allocation of their respective Revolver Commitments in order to effect an increase or decrease of such respective Revolver Commitments, with any such increase or decrease in their Dutch Revolver Commitments to Dutch Borrowers to be accompanied by a concurrent and equal decrease or increase, as applicable, in their U.S. Revolver Commitments (each, a “Reallocation”). Any such Reallocation shall be subject to the following conditions: (i) Borrower Agent shall have provided to Agent a written notice (in reasonable detail) at least thirty (30) Business Days prior to the requested effective date (which effective date shall be the first day of the subsequent Fiscal Quarter) of such Reallocation (the “Reallocation Date”) setting forth the proposed Reallocation Date and the amounts of the proposed Revolver Commitments reallocations to be effected, (ii) any such Reallocation shall increase or decrease the applicable Revolver Commitments in increments of $5,000,000, and, after giving effect to any such Reallocation, the aggregate Dutch Revolver Commitments shall not exceed 30% of the aggregate Revolver Commitments, (iii) after giving effect to the Reallocation, each Lender shall hold the same Pro Rata share of all of the Revolver Commitments as it did prior to such Reallocation, (iv) no Default or Event of Default shall have occurred and be continuing either as of the date of such request or on the Reallocation Date (both immediately before and after giving effect to such Reallocation), (v) any increase or decrease in a Revolver Commitment of a Lender in its respective Dutch Revolver Commitment or U.S. Revolver Commitment shall result in a concurrent decrease or increase in in its respective Dutch Revolver Commitment or U.S. Revolver Commitment such that the sum of all the Revolver Commitments of such Lender after giving effect to such Reallocation shall equal the aggregate amount of the Revolver Commitments of such Lender in effect immediately prior to such Reallocation, (vi) after giving effect to such Reallocation, no Overadvance, Dutch Overadvance or U.S. Overadvance would exist or would result therefrom, (vii) at least three (3) Business Days prior to the proposed Reallocation Date, a Senior Officer of Borrower Agent shall have delivered to Agent a certificate certifying as to compliance with preceding clauses (i) through (vi) and demonstrating (in reasonable detail) the calculations required in connection therewith, (viii) Agent consents to such Reallocation in its Permitted Discretion; and (ix) no more than one Reallocation is requested in any 3-month period and no more than two Reallocations are requested in any 12-month period.

Appears in 2 contracts

Samples: Loan and Security Agreement (Super Micro Computer, Inc.), Loan and Security Agreement (Super Micro Computer, Inc.)

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Reallocation Mechanism. At any time after the Dutch Closing Date, Borrower Agent may request that Dutch Canadian Lenders and U.S. Lenders (that are also Canadian Lenders) change the then current allocation of their respective Revolver Commitments in order to effect an increase or decrease of such respective Revolver Commitments, with any such increase or decrease in their Dutch Canadian Revolver Commitments to Dutch Canadian Borrowers to be accompanied by a concurrent and equal decrease or increase, as applicable, in their U.S. Revolver Commitments (each, a "Reallocation"). Any such Reallocation shall be subject to the following conditions: (i) Borrower Agent shall have provided to Agent a written notice (in reasonable detail) at least thirty ten (3010) Business Days prior to the requested effective date (which effective date shall be the first day of the subsequent Fiscal Quarter) of such Reallocation (the "Reallocation Date") setting forth the proposed Reallocation Date and the amounts of the proposed Revolver Commitments reallocations to be effected, (ii) any such Reallocation shall increase or decrease the applicable Revolver Commitments in increments of $5,000,0001,000,000, and, after giving effect to any such Reallocation, the aggregate Dutch Canadian Revolver Commitments shall not exceed 30the lesser of $75,000,000 or 50% of the aggregate Revolver Commitments, (iii) after giving effect to the Reallocation, each Lender that is both a U.S. Lender and a Canadian Lender (or one or more Affiliates or branches of such Lender) shall hold the same Pro Rata share of all of the Revolver Commitments as to the Borrowers (it did prior being understood that the U.S. Revolver Commitments of any U.S. Lender who is not also a Canadian Lender shall not be decreased or increased after giving effect to such Reallocation), (iv) no Default or Event of Default shall have occurred and be continuing either as of the date of such request or on the Reallocation Date (both immediately before and after giving effect to such Reallocation), (v) any increase or decrease in a Revolver Commitment of a Lender in its respective Dutch Canadian Revolver Commitment or U.S. Revolver Commitment shall result in a concurrent decrease or increase in in its respective Dutch Canadian Revolver Commitment or U.S. Revolver Commitment such that the sum of all the Revolver Commitments of such Lender after giving effect to such Reallocation shall equal the aggregate amount of the Revolver Commitments of such Lender in effect immediately prior to such Reallocation, (vi) after giving effect to such Reallocation, no Overadvance, Dutch Overadvance or U.S. Overadvance would exist or would result therefrom, (vii) at least three (3) Business Days prior to the proposed Reallocation Date, a Senior Officer of Borrower Agent shall have delivered to Agent a certificate certifying as to compliance with preceding clauses (i) through (vi) and demonstrating (in reasonable detail) the calculations required in connection therewith, and (viiivii) Agent consents to such Reallocation in its Permitted Discretion; and (ix) no more than one Reallocation is requested in any 3-month period and no more than two Reallocations are requested in any 12-month period.

Appears in 2 contracts

Samples: Loan, Guaranty and Security Agreement (Guess Inc), Loan, Guaranty and Security Agreement (Guess Inc)

Reallocation Mechanism. At any time after Subject to the Dutch Closing Dateterms and conditions of this Section 2.25, the Lead Borrower Agent may request that Dutch Lenders and U.S. the Lenders change the then current allocation of their respective Revolver undrawn Initial Commitments in order to effect an increase or decrease of such respective Revolver undrawn Commitments, with any such increase or decrease in their Dutch Revolver undrawn Initial Canadian Commitments to Dutch Borrowers the Canadian Borrower to be accompanied by a concurrent and equal decrease or increase, as applicable, in their U.S. Revolver Commitments undrawn Initial US Commitment to the US Borrower (each, a “Reallocation”). Any such Reallocation shall be subject to the following conditions: conditions (except as otherwise provided in Section 9.23): (i) the Lead Borrower Agent shall have provided to the Administrative Agent a written notice (in reasonable detail) at least thirty ten (3010) Business Days prior to the requested effective date (which effective date shall be the first day of the subsequent Fiscal Quarter) of such Reallocation (the “Reallocation Date”) setting forth the proposed Reallocation Date and the amounts of the proposed Revolver undrawn Initial Commitments reallocations reallocation to be effected, (ii) any such Reallocation shall increase or decrease the applicable Revolver undrawn Initial Commitments in increments integral multiples of $5,000,0001.0 million, and, after giving effect to any and all such Reallocation, the aggregate Dutch Revolver Commitments Reallocations shall not exceed 30% result in the increase of either the Initial Canadian Commitment or the Initial US Commitment as of the Closing Date by an aggregate Revolver Commitmentsamount in excess of $20.0 million, (iii) after giving effect to the Reallocation, each Lender shall hold the same Pro Rata proportionate share of all of the Revolver Initial Commitments as it did prior to such Reallocationthe Borrowers, (iv) no Default or Event of Default shall have occurred and be continuing either as of the date of such request or on the Reallocation Date (both immediately before and after giving effect to such Reallocation), (v) no more than one (1) Reallocation may be requested in any calendar quarter, (vi) any increase or decrease in a Revolver an Initial Commitment of a Lender in its respective Dutch Revolver Initial Canadian Commitment or U.S. Revolver Initial US Commitment shall result in a concurrent decrease or increase in in its respective Dutch Revolver Initial Canadian Commitment or U.S. Revolver Initial US Commitment such that the sum of all the Revolver Initial Commitments of such Lender after giving effect to such Reallocation shall equal the aggregate amount of the Revolver Initial Commitments of such Lender in effect immediately prior to such Reallocation, (vivii) after giving effect to such ReallocationReallocation of Initial Commitments, no Overadvance, Dutch Overadvance or U.S. Overadvance would exist or would result therefrom, (viiviii) at least three (3) Business Days prior to the proposed Reallocation Date, a Senior Responsible Officer of the Lead Borrower Agent shall have delivered to the Administrative Agent a certificate certifying as to compliance with preceding clauses (i) through (vivii) and demonstrating (in reasonable detail) the calculations required in connection therewith, and (viiiix) the Administrative Agent consents to such Reallocation in its Permitted Discretion; and (ix) no more than one Reallocation is requested in any 3-month period and no more than two Reallocations are requested in any 12-month period.

Appears in 1 contract

Samples: Abl Credit Agreement (Hillman Solutions Corp.)

Reallocation Mechanism. At any time after the Dutch Closing Date, Borrower Agent Representative may request that Dutch Lenders and U.S. the Lenders change the then current allocation of their respective Revolver the Revolving Loan Commitments in order to effect an increase or decrease of such respective Revolver Commitmentsthe U.S. Revolving Loan Commitment and/or Canadian Revolving Loan Commitment, with any such increase or decrease in their Dutch Revolver Commitments to Dutch Borrowers a particular Revolving Loan Commitment to be accompanied by a concurrent and equal decrease or increase, as applicablerespectively, in their U.S. Revolver Commitments other Revolving Loan Commitment(s) (each, a "Reallocation"). Any such Reallocation shall be subject to the following conditions: (i) Borrower Agent Representative shall have provided to Agent a written notice (in reasonable detail) at least thirty ten (3010) Business Days prior to the requested effective date (which effective date shall be the first day of the subsequent Fiscal Quarteror such shorter period as Agent may agree to in writing in its sole discretion) of such Reallocation (the "Reallocation Date") setting forth the proposed Reallocation Date and the amounts of the proposed Revolver Commitments Revolving Loan Commitment reallocations to be effected, (ii) any such Reallocation shall increase or decrease the applicable Revolver Revolving Loan Commitments in increments of $5,000,000, and, after giving effect to any such Reallocation, the aggregate Dutch Revolver Commitments shall not exceed 30% of the aggregate Revolver Commitments1,000,000, (iii) after giving effect to the Reallocation, each Lender shall hold the same Pro Rata share of all of the Revolver Commitments as it did prior to such Reallocation, (iv) no Default or Event of Default shall have occurred and be continuing either as of the date of such request or on the Reallocation Date (both immediately before and after giving effect to such Reallocation), (viv) any increase or decrease in a Revolver Commitment of a Lender in its respective Dutch Revolver Commitment or U.S. Revolver Revolving Loan Commitment shall result in a concurrent decrease or increase in in its respective Dutch Revolver Commitment or U.S. Revolver the other Revolving Loan Commitment such that the sum of all the Revolver Revolving Loan Commitments of such Lender after giving effect to such Reallocation shall equal the aggregate amount of the Revolver Revolving Loan Commitments of such Lender in effect immediately prior to such Reallocation, (viv) after giving effect to such Reallocation, no Overadvance, Dutch Overadvance or U.S. Overadvance would exist or would result therefrom, and (viivi) at least three (3) Business Days prior to the proposed Reallocation Date, a Senior Responsible Officer of Borrower Agent Representative shall have delivered to Agent a certificate certifying as to compliance with preceding clauses (i) through (vi) and demonstrating (in reasonable detail) the calculations required in connection therewith, (viii) Agent consents to such Reallocation in its Permitted Discretion; and (ix) no more than one Reallocation is requested in any 3-month period and no more than two Reallocations are requested in any 12-month period.

Appears in 1 contract

Samples: Revolving Credit Agreement (Real Industry, Inc.)

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Reallocation Mechanism. At any time after (a) Subject to the Dutch Closing Dateterms and conditions of this Section 2.25, the Lead Borrower Agent may request that Dutch Lenders and U.S. the Lenders change the then current allocation of their respective Revolver undrawn Initial Commitments in order to effect an increase or decrease of such respective Revolver undrawn Commitments, with any such increase or decrease in their Dutch Revolver undrawn Initial Canadian Commitments to Dutch Borrowers the Canadian Borrower to be accompanied by a concurrent and equal decrease or increase, as applicable, in their U.S. Revolver Commitments undrawn Initial US Commitment to the US Borrower (each, a “Reallocation”). Any such Reallocation shall be subject to the following conditions: conditions (except as otherwise provided in Section 9.23): (i) the Lead Borrower Agent shall have provided to the Administrative Agent a written notice (in reasonable detail) at least thirty ten (3010) Business Days prior to the requested effective date (which effective date shall be the first day of the subsequent Fiscal Quarter) of such Reallocation (the “Reallocation Date”) setting forth the proposed Reallocation Date and the amounts of the proposed Revolver undrawn Initial Commitments reallocations reallocation to be effected, (ii) any such Reallocation shall increase or decrease the applicable Revolver undrawn Initial Commitments in increments integral multiples of $5,000,0001,000,000, and, after giving effect to any and all such Reallocation, the aggregate Dutch Revolver Commitments Reallocations shall not exceed 30% result in the increase of either the Initial Canadian Commitment or the Initial US Commitment as of the Closing Date by an aggregate Revolver Commitmentsamount in excess of $20,000,000, (iii) after giving effect to the Reallocation, each Lender shall hold the same Pro Rata proportionate share of all of the Revolver Initial Commitments as it did prior to such Reallocationthe Borrowers, (iv) no Default or Event of Default shall have occurred and be continuing either as of the date of such request or on the Reallocation Date (both immediately before and after giving effect to such Reallocation), (v) no more than one Reallocation may be requested in any calendar quarter, (vi) any increase or decrease in a Revolver an Initial Commitment of a Lender in its respective Dutch Revolver Initial Canadian Commitment or U.S. Revolver Initial US Commitment shall result in a concurrent decrease or increase in in its respective Dutch Revolver Initial Canadian Commitment or U.S. Revolver Initial US Commitment such that the sum of all the Revolver Initial Commitments of such Lender after giving effect to such Reallocation shall equal the aggregate amount of the Revolver Initial Commitments of such Lender in effect immediately prior to such Reallocation, (vivii) after giving effect to such ReallocationReallocation of Initial Commitments, no Overadvance, Dutch Overadvance or U.S. Overadvance would exist or would result therefrom, (viiviii) at least three (3) Business Days prior to the proposed Reallocation Date, a Senior Responsible Officer of the Lead Borrower Agent shall have delivered to the Administrative Agent a certificate certifying as to compliance with preceding clauses (i) through (vivii) and demonstrating (in reasonable detail) the calculations required in connection therewith, and (viiiix) the Administrative Agent consents to such Reallocation in its Permitted Discretion; . (b) The Administrative Agent shall promptly notify such Lenders of the Reallocation Date and the amount of the affected Initial Commitment of such Lenders as a result thereof. The respective proportionate shares of Lenders shall thereafter, to the extent applicable, be determined based on such reallocated amounts (ix) no more than one Reallocation is requested in subject to any 3-month period and no more than two Reallocations are requested in any 12-month periodsubsequent changes thereto).

Appears in 1 contract

Samples: Abl Credit Agreement (Hillman Companies Inc)

Reallocation Mechanism. At any time after 2.25.1. Subject to the Dutch Closing Dateterms and conditions of this Section 2.25, the Lead Borrower Agent may request that Dutch Lenders and U.S. the Lenders change the then current allocation of their respective Revolver undrawn Initial Commitments in order to effect an increase or decrease of such respective Revolver undrawn Commitments, with any such increase or decrease in their Dutch Revolver undrawn Initial Canadian Commitments to Dutch Borrowers the Canadian Borrower to be accompanied by a concurrent and equal decrease or increase, as applicable, in their U.S. Revolver Commitments undrawn Initial US Commitment to the US Borrower (each, a “Reallocation”). Any such Reallocation shall be subject to the following conditions: conditions (except as otherwise provided in Section 9.23): (i) the Lead Borrower Agent shall have provided to the Administrative Agent a written notice (in reasonable detail) at least thirty ten (3010) Business Days prior to the requested effective date (which effective date shall be the first day of the subsequent Fiscal Quarter) of such Reallocation (the “Reallocation Date”) setting forth the proposed Reallocation Date and the amounts of the proposed Revolver undrawn Initial Commitments reallocations reallocation to be effected, (ii) any such Reallocation shall increase or decrease the applicable Revolver undrawn Initial Commitments in increments integral multiples of $5,000,0001.0 million, and, after giving effect to any and all such Reallocation, the aggregate Dutch Revolver Commitments Reallocations shall not exceed 30% result in the increase of either the Initial Canadian Commitment or the Initial US Commitment as of the Closing Date by an aggregate Revolver Commitmentsamount in excess of $20.0 million, (iii) after giving effect to the Reallocation, each Lender shall hold the same Pro Rata proportionate share of all of the Revolver Initial Commitments as it did prior to such Reallocationthe Borrowers, (iv) no Default or Event of Default shall have occurred and be continuing either as of the date of such request or on the Reallocation Date (both immediately before and after giving effect to such Reallocation), (v) no more than one (1) Reallocation may be requested in any calendar quarter, (vi) any increase or decrease in a Revolver an Initial Commitment of a Lender in its respective Dutch Revolver Initial Canadian Commitment or U.S. Revolver Initial US Commitment shall result in a concurrent decrease or increase in in its respective Dutch Revolver Initial Canadian Commitment or U.S. Revolver Initial US Commitment such that the sum of all the Revolver Initial Commitments of such Lender after giving effect to such Reallocation shall equal the aggregate amount of the Revolver Initial Commitments of such Lender in effect immediately prior to such Reallocation, (vivii) after giving effect to such ReallocationReallocation of Initial Commitments, no Overadvance, Dutch Overadvance or U.S. Overadvance would exist or would result therefrom, (viiviii) at least three (3) Business Days prior to the proposed Reallocation Date, a Senior Responsible Officer of the Lead Borrower Agent shall have delivered to the Administrative Agent a certificate certifying as to compliance with preceding clauses (i) through (vivii) and demonstrating (in reasonable detail) the calculations required in connection therewith, and (viiiix) the Administrative Agent consents to such Reallocation in its Permitted Discretion; . 2.25.2. The Administrative Agent shall promptly notify such Lenders of the Reallocation Date and the amount of the affected Initial Commitment of such Lenders as a result thereof. The respective proportionate shares of Lenders shall thereafter, to the extent applicable, be determined based on such reallocated amounts (ix) no more than one Reallocation is requested in subject to any 3-month period and no more than two Reallocations are requested in any 12-month periodsubsequent changes thereto).

Appears in 1 contract

Samples: Abl Credit Agreement (Hillman Solutions Corp.)

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