Rebalancing of Lender Group Percentages Sample Clauses

Rebalancing of Lender Group Percentages. On each Settlement Date on which the Lender Group Percentages of any Lender Groups change in connection with the start of a new Period as set forth on Schedule I, the Borrower shall be deemed to have requested a non-ratable reduction of the Principal Balance of the Loans owing to each Assigning Lender Group and a non-ratable Loan from each Assignee Lender Group, in amounts with respect to each Assigning Lender Group and Assignee Lender Group, as applicable, such that, after giving effect to such reductions and Loans, the outstanding aggregate Principal Balance of the Loans owing to each Lender Group shall be equal to such Lender Group’s Lender Group Percentage (after giving effect to the adjustments set forth on Schedule I of this Agreement, as applicable) times the Aggregate Principal Balance. For administrative convenience, the Borrower may instruct Assignee Lender Groups to fund the foregoing Loans by paying the proceeds thereof directly to the Assigning Lender Groups as the foregoing reduction in the Principal Balance owing to the Assigning Lending Groups on the Borrower’s behalf and such Assignee Lender Groups shall fund such rebalancing Loans to the Assigning Lender Groups regardless of whether the conditions precedent to a Loan set forth in Section 3.02 or otherwise in this Agreement are satisfied. For purposes of this paragraph the following terms shall have the following meanings:
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Related to Rebalancing of Lender Group Percentages

  • Reallocation of Applicable Percentages to Reduce Fronting Exposure During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04, the “Applicable Percentage” of each non-Defaulting Lender shall be computed without giving effect to the Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Committed Loans of that Lender.

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