Common use of Reallocation of Pro Rata Share; Amendments Clause in Contracts

Reallocation of Pro Rata Share; Amendments. For purposes of determining Lenders' obligations or rights to fund, participate in or receive collections with respect to Loans and Letters of Credit (including existing Swingline Loans, Protective Advances and LC Obligations), Agent shall reallocate Pro Rata shares by excluding the Commitments and Loans of any Defaulting Lender(s) from the calculation of Pro Rata shares, provided, however, that in no event shall any Revolver Lender be obligated to fund or participate in Revolver Loans or Letters of Credit in an aggregate amount in excess of its Revolver Commitment, and in no event shall any FILO Lender be obligated to fund or participate in FILO Loans in an aggregate amount in excess of its FILO Commitment. Notwithstanding anything herein to the contrary, a Defaulting Lender shall have no right to vote on any amendment, waiver or other modification of a Credit Document, except for an amendment, waiver or other modification (a) relating to an increase in the Commitment of a Defaulting Lender, (b) relating to a postponement of any date fixed for payment of principal or interest on Loans held by a Defaulting Lender, (c) relating to a reduction or forgiveness of the principal of, or the rate of interest applicable to, any Loan held by a Defaulting Lender, or (d) relating to any provision altering the voting rights of a Defaulting Lender set forth in the immediately preceding clause (a), (b) or (c).

Appears in 2 contracts

Samples: Credit Agreement (Calumet Specialty Products Partners, L.P.), Credit Agreement (Calumet Specialty Products Partners, L.P.)

AutoNDA by SimpleDocs

Reallocation of Pro Rata Share; Amendments. For purposes of determining Lenders' obligations or rights to fund, participate in or receive collections with respect to Loans and Letters of Credit (including existing Swingline Loans, Protective Advances and LC Obligations), Agent shall reallocate Pro Rata shares by excluding the Commitments and Loans of any Defaulting Lender(s) from the calculation of Pro Rata shares, provided, however, that in no event shall any Revolver Lender be obligated to fund or participate in Revolver Loans or Letters of Credit in an aggregate amount in excess of its Revolver Commitment, and in no event shall any FILO Lender be obligated to fund or participate in FILO Loans in an aggregate amount in excess of its FILO Commitment. Notwithstanding anything herein to the contrary, a Defaulting Lender shall have no right to vote on any amendment, waiver or other modification of a Credit Document, except for an amendment, waiver or other modification (a) relating to an increase in the Commitment of a Defaulting Lender, (b) relating to a postponement of any date fixed for payment of principal or interest on Loans held by a Defaulting Lender, (c) relating to a reduction or forgiveness of the principal of, or the rate of interest applicable to, any Loan held by a Defaulting Lender, or (d) relating to any provision altering the voting rights of a Defaulting Lender set forth in the immediately preceding clause (a), (b) or (c).

Appears in 1 contract

Samples: Credit Agreement (Calumet Specialty Products Partners, L.P.)

Reallocation of Pro Rata Share; Amendments. For purposes of determining Lenders' obligations or rights to fund, participate in or receive collections with respect to Loans and Letters of Credit (including existing Swingline Loans, Protective Advances and LC ​ THIRD AMENDED AND RESTATED CREDIT AGREEMENT – Page 93 ​ AMERICAS/2024146412.5 ​ Obligations), Agent shall reallocate Pro Rata shares by excluding the Commitments and Loans of any Defaulting Lender(s) from the calculation of Pro Rata shares, provided, however, that in no event shall any Revolver Lender be obligated to fund or participate in Revolver Loans or Letters of Credit in an aggregate amount in excess of its Revolver Commitment, and in no event shall any FILO Lender be obligated to fund or participate in FILO Loans in an aggregate amount in excess of its FILO Commitment. Notwithstanding anything herein to the contrary, a Defaulting Lender shall have no right to vote on any amendment, waiver or other modification of a Credit Document, except for an amendment, waiver or other modification (a) relating to an increase in the Commitment of a Defaulting Lender, (b) relating to a postponement of any date fixed for payment of principal or interest on Loans held by a Defaulting Lender, (c) relating to a reduction or forgiveness of the principal of, or the rate of interest applicable to, any Loan held by a Defaulting Lender, or (d) relating to any provision altering the voting rights of a Defaulting Lender set forth in the immediately preceding clause (a), (b) or (c).

Appears in 1 contract

Samples: Credit Agreement (Calumet Specialty Products Partners, L.P.)

AutoNDA by SimpleDocs

Reallocation of Pro Rata Share; Amendments. For purposes of determining Lenders' obligations or rights to fund, participate in or receive collections with respect to Loans and Letters of Credit (including existing Swingline Loans, Protective Advances and LC Obligations), Agent shall reallocate Pro Rata shares by excluding the Commitments and Loans of any Defaulting Lender(s) from the calculation of Pro Rata shares, provided, however, that in no event shall any Revolver Lender be obligated to fund or participate in Revolver Loans or Letters of Credit in an aggregate amount in excess of its Revolver Commitment, and in no event shall any FILO Lender be obligated to fund or participate in FILO Loans in an aggregate amount in excess of its FILO Commitment. Notwithstanding anything herein to the contrary, a Defaulting Lender shall have no right to vote on any amendment, waiver or other modification of a Credit Document, except for an amendment, waiver or other modification (a) relating to an increase in the Commitment of a Defaulting Lender, (b) relating to a postponement of any date fixed for payment of principal or interest on Loans held by a Defaulting Lender, (c) relating to a reduction or forgiveness of the principal of, or the rate of interest applicable to, any Loan held by a Defaulting Lender, or (d) relating to any provision altering the voting rights of a Defaulting Lender set forth in the immediately preceding clause (a), (b) or (c).

Appears in 1 contract

Samples: Credit Agreement (Calumet Specialty Products Partners, L.P.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!