Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender). (b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.
Appears in 12 contracts
Samples: Revolving Credit, Term Loan, Guaranty and Security Agreement (Dril-Quip Inc), Revolving Credit and Security Agreement (Virco MFG Corporation), Revolving Credit, Term Loan, Guaranty and Security Agreement (Dril-Quip Inc)
Repayment of Participation Advances. (ai) Upon (and only upon) receipt by the Agent for the account of the Issuer of immediately available funds from Xxxxxxxxx a Borrower (i) in reimbursement of any payment made by the Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to the Agent, or (ii) in payment of interest on such a payment made by the Issuer or Agent under such a Letter of Credit, the Agent on behalf of the Issuer will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, and to the extent that any of the other Lender(s) holding the Revolving Commitment Lenders have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.13, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender), except the Agent shall retain for the account of the Issuer the amount of the Commitment Percentage of such funds of any Lender that did not make a Participation Advance in respect of such payment by the Issuer.
(bii) If Issuer or the Agent is required at any time to return to any BorrowerCredit Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments any payment made by Borrowers any Credit Party to the Agent for the account of the Issuer or Agent pursuant to this Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee fees thereon, each applicable Lender shall, on demand of the Agent, forthwith return to the Agent for the account of the Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or the Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 9 contracts
Samples: Revolving Credit and Security Agreement (Emerge Energy Services LP), Revolving Credit and Security Agreement (Emerge Energy Services LP), Revolving Credit and Security Agreement (Emerge Energy Services LP)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by the Administrative Agent for the account of Issuer an Issuing Lender of immediately available funds from Xxxxxxxxx the Borrower (i) in reimbursement of any payment made by Issuer or Agent such Issuing Lender under the Letter of Credit with respect to which any Xxxxxx Lender has made a payment to the Administrative Agent for the account of such Issuing Lender pursuant to this Section 2.10.4 (each such payment by a Lender, a “Participation Advance Advance”) to the Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent such Issuing Lender under such a Letter of Credit, the Administrative Agent on behalf of such Issuing Lender will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Administrative Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage Ratable Share of such funds, except the Administrative Agent shall retain for the account of such Issuing Lender the amount of the Revolving Commitment Percentage Ratable Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Issuing Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer an Issuing Lender or the Administrative Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments any payment made by Borrowers any Loan Party to Issuer or the Administrative Agent for the account of the Issuing Lender pursuant to this Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee fees thereon, each applicable Lender shall, on demand of Agentthe Administrative Agent or such Issuing Lender, forthwith return to Issuer or the Administrative Agent for the account of such Issuing Lender the amount of its Revolving Commitment Percentage Ratable Share of any amounts so returned by Issuer or the Administrative Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Administrative Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 4 contracts
Samples: Revolving Credit Facility (CNX Resources Corp), Revolving Credit Facility (CNX Resources Corp), Credit Agreement (CNX Midstream Partners LP)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the its account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or the Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.23, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a2.13(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender holding a Revolving Commitment Percentage shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 4 contracts
Samples: Revolving Credit and Security Agreement (ARKO Corp.), Revolving Credit and Security Agreement (ARKO Corp.), Revolving Credit and Security Agreement (ARKO Corp.)
Repayment of Participation Advances. (ai) Upon (and only upon) receipt by the Administrative Agent for the account of Issuer the Issuing Lender of immediately available funds from Xxxxxxxxx the Borrower (i) in reimbursement of any payment made by Issuer or Agent the Issuing Lender under the Letter of Credit with respect to which any Xxxxxx 5-Year Revolver Lender has made a Participation Advance to the Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent the Issuing Lender under such a Letter of Credit, the Administrative Agent on behalf of the Issuing Lender will pay to each Lender holding a Revolving Commitment5-Year Revolver Lender, in the same funds as those received by the Administrative Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage 5-Year Revolver Ratable Share of such funds, except the Administrative Agent shall retain for the account of the Issuing Lender the amount of the Revolving Commitment Percentage 5-Year Revolver Ratable Share of such funds of any 5-Year Revolver Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Issuing Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(bii) If Issuer or the Administrative Agent is required at any time to return to any the Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments any payment made by Borrowers the Borrower to Issuer or the Administrative Agent for the account of the Issuing Lender pursuant to this Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee fees thereon, each applicable 5-Year Revolver Lender shall, on demand of the Administrative Agent, forthwith return to Issuer or the Administrative Agent for the account of the Issuing Lender the amount of its Revolving Commitment Percentage 5-Year Revolver Ratable Share of any amounts so returned by Issuer or the Administrative Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Administrative Agent, at a rate per annum equal to the Effective Federal Funds RateRate in effect from time to time.
Appears in 3 contracts
Samples: Credit Agreement (Chesapeake Utilities Corp), Credit Agreement (Chesapeake Utilities Corp), Credit Agreement (Chesapeake Utilities Corp)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by the Revolving/TLA Administrative Agent for the account of Issuer an Issuing Lender of immediately available funds from Xxxxxxxxx the Borrower (i) in reimbursement of any payment made by Issuer or Agent such Issuing Lender under the Letter of Credit with respect to which any Xxxxxx Revolving Lender has made a payment to the Revolving/TLA Administrative Agent for the account of such Issuing Lender pursuant to this Section 2.9.4 (each such payment by a Revolving Lender, a “Participation Advance Advance”) to the Revolving/TLA Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent such Issuing Lender under such a Letter of Credit, the Revolving/TLA Administrative Agent on behalf of such Issuing Lender will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Revolving/TLA Administrative Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage Ratable Share of such funds, except the Revolving/TLA Administrative Agent shall retain for the account of such Issuing Lender the amount of the Revolving Commitment Percentage Ratable Share of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Issuing Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer an Issuing Lender or the Revolving/TLA Administrative Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments any payment made by Borrowers any Loan Party to Issuer or the Revolving/TLA Administrative Agent for the account of the Issuing Lender pursuant to this Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee fees thereon, each applicable Revolving Lender shall, on demand of Agentthe Revolving/TLA Administrative Agent or such Issuing Lender, forthwith return to Issuer or the Revolving/TLA Administrative Agent for the account of such Issuing Lender the amount of its Revolving Commitment Percentage Ratable Share of any amounts so returned by Issuer or the Revolving/TLA Administrative Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Revolving Lender to the Revolving/TLA Administrative Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 3 contracts
Samples: Credit Agreement (CONSOL Energy Inc.), Credit Agreement (CONSOL Energy Inc.), Credit Agreement (CONSOL Energy Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by the Administrative Agent for the account of Issuer an Issuing Lender of immediately available funds from Xxxxxxxxx the Borrower (i) in reimbursement of any payment made by Issuer or Agent such Issuing Lender under the Letter of Credit with respect to which any Xxxxxx Lender has made a payment to the Administrative Agent for the account of such Issuing Lender pursuant to this section 2.10.4 (each such payment by a Lender, a “Participation Advance Advance”) to the Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent such Issuing Lender under such a Letter of Credit, the Administrative Agent on behalf of such Issuing Lender will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Administrative Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage Ratable Share of such funds, except the Administrative Agent shall retain for the account of such Issuing Lender the amount of the Revolving Commitment Percentage Ratable Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Issuing Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer an Issuing Lender or the Administrative Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments any payment made by Borrowers any Loan Party to Issuer or the Administrative Agent for the account of the Issuing Lender pursuant to this Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee fees thereon, each applicable Lender shall, on demand of Agentthe Administrative Agent or such Issuing Lender, forthwith return to Issuer or the Administrative Agent for the account of such Issuing Lender the amount of its Revolving Commitment Percentage Ratable Share of any amounts so returned by Issuer or the Administrative Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Administrative Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 3 contracts
Samples: Credit Agreement (CNX Resources Corp), Credit Agreement (CNX Resources Corp), Revolving Credit Facility (CNX Resources Corp)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 3 contracts
Samples: Revolving Credit and Security Agreement and Guaranty (Viant Technology Inc.), Revolving Credit and Security Agreement (Viant Technology Inc.), Revolving Credit, Term Loan and Security Agreement (Cca Industries Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of the applicable Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by such Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by such Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) Lenders holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If any Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to such Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to such Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by such Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 3 contracts
Samples: Revolving Credit and Security Agreement (Quantum Corp /De/), Revolving Credit and Security Agreement (Quantum Corp /De/), Revolving Credit and Security Agreement (Quantum Corp /De/)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of the applicable Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by such Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by such Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) Lenders holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If any Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to such Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to such Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by such Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 3 contracts
Samples: Revolving Credit and Security Agreement (Quantum Corp /De/), Revolving Credit and Security Agreement (Quantum Corp /De/), Revolving Credit and Security Agreement (Quantum Corp /De/)
Repayment of Participation Advances. (ai) Upon (and only upon) receipt by the Agent for the account of Issuer the relevant Issuing Lender of immediately available funds from Xxxxxxxxx the Borrower (ix) in reimbursement of any payment made by Issuer or Agent such Issuing Lender under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to the Agent, or (iiy) in payment of interest on such a payment made by Issuer or Agent such Issuing Lender under such a Letter of Credit, the Agent on behalf of such Issuing Lender will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage Ratable Share of such funds, except the Agent shall retain for the account of the relevant Issuing Lender the amount of the Revolving Commitment Percentage Ratable Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Issuing Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(bii) If Issuer or the Agent is required at any time to return to any the Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments any payment made by Borrowers the Borrower to Issuer or the Agent for the account of an Issuing Lender pursuant to this Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or any interest or fee thereon, each applicable Lender shall, on demand of the Agent, forthwith return to Issuer or the Agent for the account of the relevant Issuing Lender the amount of its Revolving Commitment Percentage Ratable Share of any amounts so returned by Issuer or the Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Agent, at a rate per annum equal to the Effective Federal Funds RateRate in effect from time to time.
Appears in 3 contracts
Samples: Credit Agreement, Credit Agreement (Ugi Utilities Inc), Credit Agreement (Ugi Utilities Inc)
Repayment of Participation Advances. (a) 2.10.4.1. Upon (and only upon) receipt by Agent the relevant Issuing Bank for the its account of Issuer of immediately available funds from Xxxxxxxxx the Borrower (i) in reimbursement of any payment made by Issuer or Agent such Issuing Bank under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to the Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent such Issuing Bank under such a Letter of Credit, Agent such Issuing Bank will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agentsuch Issuing Bank, the amount of such XxxxxxLender’s Revolving Commitment Percentage Ratable Share of such funds, except Agent such Issuing Bank shall retain the amount of the Revolving Commitment Percentage Ratable Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender)Issuing Bank.
(b) 2.10.4.2. If Issuer any Issuing Bank or the Administrative Agent is required at any time to return to the Borrower of any BorrowerGuarantor, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments made by Borrowers any such Loan Party to Issuer such Issuing Bank or the Administrative Agent pursuant to to
Section 2.15(a) 2.10.4.1 in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of the Administrative Agent, forthwith return to Issuer or the Administrative Agent the amount of its Revolving Commitment Percentage Ratable Share of any amounts so returned by Issuer such Issuing Bank or the Administrative Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Administrative Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 3 contracts
Samples: Credit Agreement (Koppers Holdings Inc.), Credit Agreement (Koppers Holdings Inc.), Credit Agreement (Koppers Inc)
Repayment of Participation Advances. (a) 2.9.4.1 Upon (and only upon) receipt by the Agent for on behalf of the account Letter of Issuer Credit Lender of immediately available funds from Xxxxxxxxx the Borrower (i) in reimbursement of any payment made by Issuer or Agent the on behalf of the Letter of Credit Lender under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, the Agent on behalf of the Letter of Credit Lender or (ii) in payment of interest on such a payment made by Issuer or the Agent under such a Letter of Credit, the Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage Ratable Share of such funds, except the Agent shall retain the amount of the Revolving Commitment Percentage Ratable Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, Agent. If the Letter of Credit Lender receives any such payment prior to the extent that 1:00 p.m. on a Business Day and does not make payment to any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Lender which has made such a Participation Advance in accordance with on the provisions same Business Day, then such Lender shall be entitled to receive such Letter of Section 2.22, Agent will pay over Credit Lender interest at the Federal Funds Effective Rate for each day until such payment is made to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) 2.9.4.2 If Issuer the Agent or Agent the Letter of Credit Lender is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments made by Borrowers to Issuer or Agent any Loan Party pursuant to Section 2.15(a) 2.9.
4.1 [Repayment of Participation Advances] in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agentthe Agent on behalf of the Letter of Credit Lender, forthwith return to Issuer or the Agent the amount of its Revolving Commitment Percentage Ratable Share of any amounts so returned by Issuer the Agent or Agent such Letter of Credit Lender plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 3 contracts
Samples: Revolving Credit Facility (Hovnanian Enterprises Inc), Revolving Credit Facility (Hovnanian Enterprises Inc), Revolving Credit Facility (Hovnanian Enterprises Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the its account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or the Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the a Revolving Commitment have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.23, Agent will pay over to such Non-Defaulting funding Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a2.13(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Green Plains Inc.), Revolving Credit and Security Agreement (Green Plains Renewable Energy, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds in Dollars from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Lenders have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments made by Borrowers or any other Loan Party to Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 2 contracts
Samples: Export Import Revolving Credit, Guaranty and Security Agreement (Dasan Zhone Solutions Inc), Revolving Credit, Term Loan, Guaranty and Security Agreement (Dasan Zhone Solutions Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Administrative Agent for the account of Issuer Issuing Bank of immediately available funds from Xxxxxxxxx U.S. Borrowers (i) in reimbursement of any payment made by Issuer Issuing Bank or Administrative Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer Issuing Bank or Administrative Agent under such a Letter of Credit, Administrative Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Administrative Agent, the amount of such XxxxxxLender’s Revolving Commitment Applicable Percentage of such funds, except Administrative Agent shall retain the amount of the Revolving Commitment Applicable Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Administrative Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.20, Administrative Agent will pay over to such Nonnon-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) . If Issuer Issuing Bank or Administrative Agent is required at any time to return to any such Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by such Borrowers to Issuer Issuing Bank or Administrative Agent pursuant to Section 2.15(a2.06(e) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Administrative Agent, forthwith return to Issuer Issuing Bank or Administrative Agent the amount of its Revolving Commitment Applicable Percentage of any amounts so returned by Issuer Issuing Bank or Administrative Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 2 contracts
Samples: Credit Agreement (Designer Brands Inc.), Credit Agreement (American Eagle Outfitters Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the its account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Revolving Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.21, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, monitor, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a2.14(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Revolving Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.
Appears in 2 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (Drilling Tools International Corp), Revolving Credit, Security and Guaranty Agreement (ROC Energy Acquisition Corp.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Administrative Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Administrative Agent under the Letter of Credit with respect to which any Xxxxxx Revolving Lender has made a Participation Advance to Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer or Administrative Agent under such a Letter of Credit, Administrative Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Administrative Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage of such funds, except Administrative Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Administrative Agent (and, to the extent that any of the other Revolving Lender(s) holding the Revolving Commitment have funded any portion such of any Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Administrative Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Administrative Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Administrative Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Revolving Lender shall, on demand of Administrative Agent, forthwith return to Issuer or Administrative Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Administrative Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 2 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (A.S.V., LLC), Revolving Credit, Term Loan and Security Agreement (Manitex International, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 2 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (PHI Group, Inc./De), Revolving Credit, Term Loan and Security Agreement (PHI Group, Inc./De)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds in Dollars from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Lender's Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s 's Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of the Dollar Equivalent of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Great Lakes Dredge & Dock CORP), Revolving Credit and Security Agreement (Great Lakes Dredge & Dock CORP)
Repayment of Participation Advances. (a) 2.11.4.1 Upon (and only upon) receipt by the Administrative Agent or the applicable Issuing Lender for the its account of Issuer (as applicable) of immediately available funds from Xxxxxxxxx the Borrowers (i) in reimbursement payment of any payment Letter of Credit Borrowing made by Issuer the Administrative Agent or Agent the applicable Issuing Lender under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to the Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer the Administrative Agent or Agent the applicable Issuing Lender under such a Letter of Credit, the Administrative Agent or the applicable Issuing Lender will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agentthe Administrative Agent or the applicable Issuing Lender, the amount of such Xxxxxx’s Lender's Revolving Commitment Percentage Credit Ratable Share of such funds, except the Administrative Agent or the applicable Issuing Lender shall retain the amount of the Revolving Commitment Percentage Credit Ratable Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender)Administrative Agent.
(b) 2.11.4.2 If Issuer the Administrative Agent or Agent any Issuing Lender is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments made by Borrowers any Loan Party to Issuer the Administrative Agent or Agent such Issuing Lender pursuant to Section 2.15(a) 2.11.
4.1 in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of the Administrative Agent, forthwith return to Issuer the Administrative Agent, for its account or Agent the account of such Issuing Lender (as applicable), the amount of its Revolving Commitment Percentage Credit Ratable Share of any amounts so returned by Issuer the Administrative Agent or Agent such Issuing Lender (as applicable) plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Administrative Agent or such Issuing Lender, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 2 contracts
Samples: Revolving Credit Facility (Glatfelter P H Co), Revolving Credit Facility (Glatfelter P H Co)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.. [PHI Group] Revolving Credit, Term Loan and Security Agreement
Appears in 2 contracts
Samples: Revolving Credit, Term Loan and Security Agreement (PHI Group, Inc./De), Revolving Credit, Term Loan and Security Agreement (PHI Group, Inc./De)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Lenders have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, monitor, liquidator, custodian, or any official in any insolvency proceedingproceeding under any Insolvency Law, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Williams Industrial Services Group Inc.), Revolving Credit and Security Agreement (Williams Industrial Services Group Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.23, Agent will pay over to such Non-Defaulting funding Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a2.13(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement, Revolving Credit and Security Agreement (Emerge Energy Services LP)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrower (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.23, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers Borrower to Issuer or Agent pursuant to Section 2.15(a2.13(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 2 contracts
Samples: Revolving Credit and Security Agreement (Boot Barn Holdings, Inc.), Revolving Credit and Security Agreement (Boot Barn Holdings, Inc.)
Repayment of Participation Advances. (ai) Upon (and only upon) receipt by Agent for the account of Issuer Issuing Bank of immediately available funds from Xxxxxxxxx Borrower (iA) in reimbursement of any payment made by Issuer Issuing Bank or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (iiB) in payment of interest on such a payment made by Issuer Issuing Bank or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage Pro Rata Share of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage Pro Rata Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) Lenders holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.9, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(bii) If Issuer Issuing Bank or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers Borrower to Issuer Issuing Bank or Agent pursuant to Section 2.15(a2.11(e) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer Issuing Bank or Agent the amount of its Revolving Commitment Percentage Pro Rata Share of any amounts so returned by Issuer Issuing Bank or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 2 contracts
Samples: Credit Agreement (LiveVox Holdings, Inc.), Credit Agreement (LiveVox Holdings, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by the Administrative Agent for the account of Issuer an Issuing Lender of immediately available funds from Xxxxxxxxx the Borrower (i) in reimbursement of any payment made by Issuer or Agent such Issuing Lender under the Letter of Credit with respect to which any Xxxxxx Lender has made a payment to the Administrative Agent for the account of such Issuing Lender pursuant to this Section 2.9.3 (each such payment by a Lender, a “Participation Advance Advance”) to the Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent such Issuing Lender under such a Letter of Credit, the Administrative Agent on behalf of such Issuing Lender will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Administrative Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage Ratable Share of such funds, except the Administrative Agent shall retain for the account of such Issuing Lender the amount of the Revolving Commitment Percentage Ratable Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Issuing Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer an Issuing Lender or the Administrative Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments any payment made by Borrowers any Loan Party to Issuer or the Administrative Agent for the account of the Issuing Lender pursuant to this Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee fees thereon, each applicable Lender shall, on demand of Agentthe Administrative Agent or such Issuing Lender, forthwith return to Issuer or the Administrative Agent for the account of such Issuing Lender the amount of its Revolving Commitment Percentage Ratable Share of any amounts so returned by Issuer or the Administrative Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Administrative Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 2 contracts
Samples: Revolving Credit Facility, Revolving Credit Facility (CNX Coal Resources LP)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Administrative Agent for the account of Issuer Issuing Bank of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer Issuing Bank or Administrative Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer Issuing Bank or Administrative Agent under such a Letter of Credit, Administrative Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Administrative Agent, the amount of such XxxxxxLender’s Revolving Commitment Applicable Percentage of such funds, except Administrative Agent shall retain the amount of the Revolving Commitment Applicable Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Administrative Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.20, Administrative Agent will pay over to such Nonnon-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) . If Issuer Issuing Bank or Administrative Agent is required at any time to return to any such Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by such Borrowers to Issuer Issuing Bank or Administrative Agent pursuant to Section 2.15(a2.06(e) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Administrative Agent, forthwith return to Issuer Issuing Bank or Administrative Agent the amount of its Revolving Commitment Applicable Percentage of any amounts so returned by Issuer Issuing Bank or Administrative Agent plus interest at the Effective Federal Funds Overnight Bank Funding Rate.
Appears in 2 contracts
Samples: Credit Agreement (Big Lots Inc), Credit Agreement (Big Lots Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Lenders have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Ugi Corp /Pa/)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Lenders have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (AutoWeb, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Administrative Agent for the account of Issuer Issuing Bank of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer Issuing Bank or Administrative Agent under the Letter of Credit with respect to which any Xxxxxx has Lexxxx xas made a Participation Advance to Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer Issuing Bank or Administrative Agent under such a Letter of Credit, Administrative Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Administrative Agent, the amount of such XxxxxxLender’s Revolving Commitment Applicable Percentage of such funds, except Administrative Agent shall retain the amount of the Revolving Commitment Applicable Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Administrative Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.20, Administrative Agent will pay over to such Nonnon-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) . If Issuer Issuing Bank or Administrative Agent is required at any time to return to any such Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by such Borrowers to Issuer Issuing Bank or Administrative Agent pursuant to Section 2.15(a2.06(e) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Administrative Agent, forthwith return to Issuer Issuing Bank or Administrative Agent the amount of its Revolving Commitment Applicable Percentage of any amounts so returned by Issuer Issuing Bank or Administrative Agent plus interest at the Effective Federal Funds Overnight Bank Funding Rate.
Appears in 1 contract
Samples: Credit Agreement (Big Lots Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by the Administrative Agent for the account of the applicable Issuer of immediately available funds from Xxxxxxxxx the applicable Borrowers (i) in reimbursement of any payment made by such Issuer or the Administrative Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, the Administrative Agent or (ii) in payment of interest on such a payment made by such Issuer or the Administrative Agent under such a Letter of Credit, the Administrative Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Administrative Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except the Administrative Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by the Administrative Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.20, the Administrative Agent will pay over to such Non-Defaulting funding Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If any Issuer or the Administrative Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingproceeding pursuant to an Insolvency Event, any portion of the payments made by the Borrowers to any Issuer or the Administrative Agent pursuant to Section 2.15(a2.14(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, the Administrative Agent forthwith return to such Issuer or the Administrative Agent the amount of its Revolving Commitment Percentage of any amounts so returned by such Issuer or the Administrative Agent plus interest at the Effective Federal Funds Effective Rate or one month CDOR Rate, as applicable.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Xerium Technologies Inc)
Repayment of Participation Advances. (ai) Upon (and only upon) receipt by the Agent for the account of Issuer the Issuing Lender of immediately available funds from Xxxxxxxxx the US Borrower (i) in reimbursement of any payment made by Issuer or Agent the Issuing Lender under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to the Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent the Issuing Lender under such a Letter of Credit, the Agent on behalf of the Issuing Lender will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Agent, the amount of such Xxxxxx’s Revolving Commitment Lender's Percentage of such funds, except the Agent shall retain for the account of the Issuing Lender the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Issuing Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(bii) If Issuer or the Agent is required at any time to return to any BorrowerCredit Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of any payment made for the payments made by Borrowers to Issuer or Agent account of the Issuing Lender pursuant to this Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee fees thereon, each applicable Lender shall, on demand of the Agent, forthwith return to Issuer or the Agent for the account of the Issuing Lender the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or the Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 1 contract
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) Lenders holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Perma-Pipe International Holdings, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) 074658.18062/111245555v.10 Lenders holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Perma-Pipe International Holdings, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx the Loan Parties (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers or any other Loan Party to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Ampco Pittsburgh Corp)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Lenders have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments made by Borrowers or any other Loan Party to Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit, Guaranty and Security Agreement (Babcock & Wilcox Enterprises, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).. [Innovex] 2nd A&R Credit Agreement 67
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.
Appears in 1 contract
Samples: Revolving Credit, Term Loan, Guaranty and Security Agreement (Innovex Downhole Solutions, Inc.)
Repayment of Participation Advances. (ai) Upon (and only upon) receipt by the Agent for the account of Issuer the relevant Issuing Lender of immediately available funds from Xxxxxxxxx the Borrower (ix) in reimbursement of any payment made by Issuer or Agent such Issuing Lender under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to the Agent, or (iiy) in payment of interest on such a payment made by Issuer or Agent such Issuing Lender under such a Letter of Credit, the Agent on behalf of such Issuing Lender will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage Ratable Share of such funds, except the Agent shall retain for the account of the relevant Issuing Lender the amount of the Revolving Commitment Percentage Ratable Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Issuing Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(bii) If Issuer the Agent (or Agent any Issuing Lender) is required at any time to return to any the Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments any payment made by Borrowers the Borrower to Issuer the Agent for the account of an Issuing Lender (or Agent any payment made directly to any Issuing Lender) pursuant to this Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or any interest or fee thereon, each applicable Lender shall, on demand of Agentthe Agent (or the relevant Issuing Lender, as the case may be) forthwith return to Issuer the Agent for the account of the relevant Issuing Lender (or Agent return directly to such Issuing Lender, as the case may be) the amount of its Revolving Commitment Percentage Ratable Share of any amounts so returned by Issuer the Agent (or Agent such Issuing Lender, as the case may be) plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Agent (or such Issuing Lender, as the case may be), at a rate per annum equal to the Effective Federal Funds RateRate in effect from time to time.
Appears in 1 contract
Samples: Credit Agreement (Ugi Corp /Pa/)
Repayment of Participation Advances. (a) 2.27.1 Upon (and only upon) receipt by the Administrative Agent for the account of Issuer of immediately available funds from Xxxxxxxxx the Company (ia) in reimbursement of any payment made by Issuer or the Administrative Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to the Administrative Agent, or (iib) in payment of interest on such a payment made by Issuer or the Administrative Agent under such a Letter of Credit, the Administrative Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Administrative Agent, the amount of such Revolving Xxxxxx’s Revolving Commitment Percentage of such funds, except the Administrative Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by the Administrative Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Lenders have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.17, the Administrative Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) 2.27.2 If Issuer or the Administrative Agent is required at any time to return to any Borrowerthe Company, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers the Company to Issuer or the Administrative Agent pursuant to Section 2.15(a) 2.27.1 in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of the Administrative Agent, forthwith return to Issuer or the Administrative Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or the Administrative Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Virco MFG Corporation)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the its account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or the Agent under the Letter of Credit with respect to which any Xxxxxx Lxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.23, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a2.13(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender holding a Revolving Commitment Percentage shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (ARKO Corp.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Lenders have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender)..
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Ugi Corp /Pa/)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Lenders have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, monitor, liquidator, custodian, or any official in any insolvency proceedingproceeding under any Insolvency Law, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Williams Industrial Services Group Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Administrative Agent for the its account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or the Administrative Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer or Administrative Agent under such a Letter of Credit, Administrative Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Administrative Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Administrative Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender)Administrative Agent.
(b) If Issuer or Administrative Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Administrative Agent pursuant to Section 2.15(a2.13(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Administrative Agent, forthwith return to Issuer or Administrative Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Administrative Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Comforce Corp)
Repayment of Participation Advances. (a) 2.9.4.1 Upon (and only upon) receipt by the Agent for on behalf of the account Letter of Issuer Credit Lender of immediately available funds from Xxxxxxxxx the Borrower (i) in i)in reimbursement of any payment made by Issuer or Agent the on behalf of the Letter of Credit Lender under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, the Agent on behalf of the Letter of Credit Lender or (ii) in ii)in payment of interest on such a payment made by Issuer or the Agent under such a Letter of Credit, the Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage Lender's Ratable Share of such funds, except the Agent shall retain the amount of the Revolving Commitment Percentage Ratable Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, Agent. If the Letter of Credit Lender receives any such payment prior to the extent that 1:00 p.m. on a Business Day and does not make payment to any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Lender which has made such a Participation Advance in accordance with on the provisions same Business Day, then such Lender shall be entitled to receive such Letter of Section 2.22, Agent will pay over Credit Lender interest at the Federal Funds Effective Rate for each day until such payment is made to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) 2.9.4.2 If Issuer the Agent or Agent the Letter of Credit Lender is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments made by Borrowers to Issuer or Agent any Loan Party pursuant to Section 2.15(a) 2.9.
4.1 [Repayment of Participation Advances] in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agentthe Agent on behalf of the Letter of Credit Lender, forthwith return to Issuer or the Agent the amount of its Revolving Commitment Percentage Ratable Share of any amounts so returned by Issuer the Agent or Agent such Letter of Credit Lender plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 1 contract
Samples: Revolving Credit Facility (Hovnanian Enterprises Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Lenders have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, monitor, liquidator, custodian, or any official in any insolvency proceedingproceeding under any Insolvency Law, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Williams Industrial Services Group Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.Effective Rate.49
Appears in 1 contract
Samples: Revolving Credit and Security Agreement and Guaranty (Viant Technology Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Administrative Agent for the account of Issuer Issuing Bank of immediately available funds from Xxxxxxxxx U.S. Borrowers (i) in reimbursement of any payment made by Issuer Issuing Bank or Administrative Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer Issuing Bank or Administrative Agent under such a Letter of Credit, Administrative Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Administrative Agent, the amount of such XxxxxxLender’s Revolving Commitment Applicable Percentage of such funds, except Administrative Agent shall retain the amount of the Revolving Commitment Applicable Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Administrative Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.20, Administrative Agent will pay over to such Nonnon-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) . If Issuer Issuing Bank or Administrative Agent is required at any time to return to any such Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by such Borrowers to Issuer Issuing Bank or Administrative Agent pursuant to Section 2.15(a2.06(e) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Administrative Agent, forthwith return to Issuer Issuing Bank or Administrative Agent the amount of its Revolving Commitment Applicable Percentage of any amounts so returned by Issuer Issuing Bank or Administrative Agent plus interest at the Effective Federal Fed Funds Rate.
Appears in 1 contract
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrower (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) Lenders holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.21, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers Borrower to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate. The foregoing provisions shall survive the termination of the Commitments, the termination of this Agreement, the repayment of all Obligations and the resignation of the Agent.
Appears in 1 contract
Samples: Credit Agreement (Connecture Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Administrative Agent for the account of Issuer Issuing Bank of immediately available funds from Xxxxxxxxx U.S. Borrowers (i) in reimbursement of any payment made by Issuer Issuing Bank or Administrative Agent under the Letter of Credit with respect to which any Xxxxxx Revolving Lender has made a Participation Advance to Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer Issuing Bank or Administrative Agent under such a Letter of Credit, Administrative Agent will pay to each Revolving Lender holding a Revolving Commitment, in the same funds as those received by Administrative Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Applicable Percentage of such funds, except Administrative Agent shall retain the amount of the Revolving Commitment Applicable Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Administrative Agent (and, to the extent that any of the other Revolving Lender(s) holding the Revolving Commitment have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.20, Administrative Agent will pay over to such Nonnon-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) . If Issuer Issuing Bank or Administrative Agent is required at any time to return to any such Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by such Borrowers to Issuer Issuing Bank or Administrative Agent pursuant to Section 2.15(a2.06(e) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Revolving Lender shall, on demand of Administrative Agent, forthwith return to Issuer Issuing Bank or Administrative Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.its
Appears in 1 contract
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) Lenders holding the Revolving Commitment have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Daseke, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the its account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or the Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the a Revolving Commitment have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.23, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a2.13(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Green Plains Inc.)
Repayment of Participation Advances. (ai) Upon (and only upon) receipt by Agent for the account of Issuer Issuing Bank of immediately available funds from Xxxxxxxxx Borrower (iA) in reimbursement of any payment made by Issuer Issuing Bank or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (iiB) in payment of interest on such a payment made by Issuer Issuing Bank or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage Pro Rata Share of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage Pro Rata Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) Lenders holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.9, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(bii) If Issuer Issuing Bank or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers Borrower to Issuer Issuing Bank or Agent pursuant to Section 2.15(a2.11(e) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer Issuing Bank or Agent the amount of its Revolving Commitment Percentage Pro Rata Share of any amounts so returned by Issuer Issuing Bank or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the its account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Lender's Revolver Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Revolver Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion of such Defaulting Lender’s 's Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Non‑Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a2.13(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Revolver Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Debt Agreement (Castle a M & Co)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Issuer or Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Commitments have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any BorrowerBorrower or Guarantor, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Event, any portion of the payments made by Borrowers or Guarantors to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Build-a-Bear Workshop Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Issuer or Agent (and, to the extent that any of the other Lender(s) holding the a Revolving Commitment have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers or Guarantors to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Finish Line Inc /In/)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Issuer or Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Commitments have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any BorrowerBorrower or Guarantor, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Event, any portion of the payments made by Borrowers or Guarantors to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Build a Bear Workshop Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by the Administrative Agent for the account of Issuer an Issuing Lender of immediately available funds from Xxxxxxxxx the Borrower (i) in reimbursement of any payment made by Issuer or Agent such Issuing Lender under the Letter of Credit with respect to which any Xxxxxx has made a payment to the Administrative Agent for the account of such Issuing Lender pursuant to this Section 2.10.4 (each such payment by a Lender, a “Participation Advance Advance”) to the Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent such Issuing Lender under such a Letter of Credit, the Administrative Agent on behalf of such Issuing Lender will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Administrative Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage Ratable Share of such funds, except the Administrative Agent shall retain for the account of such Issuing Lender the amount of the Revolving Commitment Percentage Ratable Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Issuing Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer an Issuing Lender or the Administrative Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments any payment made by Borrowers any Loan Party to Issuer or the Administrative Agent for the account of the Issuing Lender pursuant to this Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee fees thereon, each applicable Lender shall, on demand of Agentthe Administrative Agent or such Issuing Lender, forthwith return to Issuer or the Administrative Agent for the account of such Issuing Lender the amount of its Revolving Commitment Percentage Ratable Share of any amounts so returned by Issuer or the Administrative Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Administrative Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 1 contract
Repayment of Participation Advances. (ai) Upon (and only upon) receipt by the Agent for the account of Issuer the Issuing Lender of immediately available funds from Xxxxxxxxx the US Borrower (iA) in reimbursement of any payment made by Issuer or Agent the Issuing Lender under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to the Agent, or (iiB) in payment of interest on such a payment made by Issuer or Agent the Issuing Lender under such a Letter of Credit, the Agent on behalf of the Issuing Lender will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Agent, the amount of such Xxxxxx’s Revolving Commitment Lender's Percentage of such funds, except the Agent shall retain for the account of the Issuing Lender the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Issuing Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(bii) If Issuer or the Agent is required at any time to return to any BorrowerCredit Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of any payment made for the payments made by Borrowers to Issuer or Agent account of the Issuing Lender pursuant to this Section 2.15(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee fees thereon, each applicable Lender shall, on demand of the Agent, forthwith return to Issuer or the Agent for the account of the Issuing Lender the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or the Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 1 contract
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment Lenders have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.22 hereof, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).. 94 074658.21069/130240014v.3
(b) If Issuer or Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments made by Borrowers or any other Loan Party to Issuer or Agent pursuant to Section 2.15(a) hereof in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit, Guaranty and Security Agreement (Babcock & Wilcox Enterprises, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx the Loan Parties (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Lender's Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s 's Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers or any other Loan Party to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate (or for any payment in an Optional Currency, the Overnight Rate).
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Allegheny Technologies Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx the Loan Parties (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s 's Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s 's Participation Advance in accordance with the 268323208 provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers or any other Loan Party to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate (or for any payment in an Optional Currency, the Overnight Rate).
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (Ati Inc)
Repayment of Participation Advances. (a) 2.9.4.1 Upon (and only upon) receipt by the Agent for on behalf of the account Letter of Issuer Credit Lender of immediately available funds from Xxxxxxxxx the Borrower (i) in reimbursement of any payment made by Issuer or the Agent on behalf of the Letter of Credit Lender under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, the Agent on behalf of the Letter of Credit Lender or (ii) in payment of interest on such a payment made by Issuer or the Agent under such a Letter of Credit, the Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage Ratable Share of such funds, except the Agent shall retain the amount of the Revolving Commitment Percentage Ratable Share of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, Agent. If the Letter of Credit Lender receives any such payment prior to the extent that 1:00 p.m. on a Business Day and does not make payment to any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Lender which has made such a Participation Advance in accordance with on the provisions same Business Day, then such Lender shall be entitled to receive such Letter of Section 2.22, Agent will pay over Credit Lender interest at the Federal Funds Effective Rate for each day until such payment is made to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) 2.9.4.2 If Issuer the Agent or Agent the Letter of Credit Lender is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments made by Borrowers to Issuer or Agent any Loan Party pursuant to Section 2.15(a) 2.9.
4.1 [Repayment of Participation Advances] in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agentthe Agent on behalf of the Letter of Credit Lender, forthwith return to Issuer or the Agent the amount of its Revolving Commitment Percentage Ratable Share of any amounts so returned by Issuer the Agent or Agent such Letter of Credit Lender plus interest thereon from the date such demand is made to the date such amounts are returned by such Lender to the Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 1 contract
Samples: Revolving Credit Facility (Hovnanian Enterprises Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, monitor, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Mammoth Energy Services, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such Xxxxxx’s Lender's Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Revolving Lender(s) holding the Revolving Commitment have funded any portion of such Defaulting Lender’s 's Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, receiver/manager, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of the applicable Issuer of immediately available funds from Xxxxxxxxx the Borrowers (i) in reimbursement of any payment made by such Issuer or the Agent under the any Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to the Agent, or (ii) in payment of interest on such a payment made by such Issuer or the Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the a Revolving Commitment have funded any portion such of any Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.21, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If any Issuer or the Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers any Borrower to such Issuer or the Agent pursuant to Section 2.15(a2.14(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to such Issuer or the Agent the amount of its Revolving Commitment Percentage of any amounts so returned by such Issuer or the Agent plus interest at the Effective Federal Funds Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Invacare Corp)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).. [Innovex] 2nd A&R Credit Agreement 67
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.
Appears in 1 contract
Samples: Revolving Credit, Term Loan, Guaranty and Security Agreement (Dril-Quip Inc)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the its account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by the Issuer or Agent as Issuer under the Letter of Credit - AIC with respect to which any Xxxxxx Revolving Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of CreditCredit - AIC, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender)Agent.
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a2.13(a) in reimbursement of a payment made under the Letter of Credit - AIC or interest or fee thereon, each applicable Revolving Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (UniTek Global Services, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Administrative Agent for the account of Issuer Issuing Bank of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer Issuing Bank or Administrative Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer Issuing Bank or Administrative Agent under such a Letter of Credit, Administrative Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Administrative Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Administrative Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Administrative Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.20, Administrative Agent will pay over to such Nonnon-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer Issuing Bank or Administrative Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer Issuing Bank or Administrative Agent pursuant to Section 2.15(a2.14(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Administrative Agent, forthwith return to Issuer Issuing Bank or Administrative Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer Issuing Bank or Administrative Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Guaranty Agreement (Fairmount Santrol Holdings Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Administrative Agent for the account of Issuer Issuing Bank of immediately available funds from Xxxxxxxxx U.S. Borrowers (i) in reimbursement of any payment made by Issuer Issuing Bank or Administrative Agent under the Letter of Credit with respect to which any Xxxxxx Revolving Lender has made a Participation Advance to Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer Issuing Bank or Administrative Agent under such a Letter of Credit, Administrative Agent will pay to each Revolving Lender holding a Revolving Commitment, in the same funds as those received by Administrative Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Applicable Percentage of such funds, except Administrative Agent shall retain the amount of the Revolving Commitment Applicable Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Administrative Agent (and, to the extent that any of the other Revolving Lender(s) holding the Revolving Commitment have funded any portion of such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.20, Administrative Agent will pay over to such Nonnon-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) . If Issuer Issuing Bank or Administrative Agent is required at any time to return to any such Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by such Borrowers to Issuer Issuing Bank or Administrative Agent pursuant to Section 2.15(a2.06(e) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Revolving Lender shall, on demand of Administrative Agent, forthwith return to Issuer Issuing Bank or Administrative Agent the amount of its Revolving Commitment Applicable Percentage of any amounts so returned by Issuer Issuing Bank or Administrative Agent plus interest at the Effective Federal Fed Funds Rate.
Appears in 1 contract
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of the applicable Issuer of immediately available funds from Xxxxxxxxx the Borrowers (i) in reimbursement of any payment made by such Issuer or the Agent under the any Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to the Agent, or (ii) in payment of interest on such a payment made by such Issuer or the Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the a Revolving Commitment have funded any portion such of any Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.222.21, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If any Issuer or the Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers any Borrower to such Issuer or the Agent pursuant to Section 2.15(a2.14(a) in reimbursement of a payment made under the any Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to such Issuer or the Agent the amount of its Revolving Commitment Percentage of any amounts so returned by such Issuer or the Agent plus interest at the Effective Federal Funds Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Invacare Corp)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Loan Parties (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, interim receiver, receiver and manager, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers or any other Loan Party to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Worthington Steel, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such XxxxxxLender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on 147420493 demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Virco MFG Corporation)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Revolving Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (Universal Logistics Holdings, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Administrative Agent for the account of Issuer of immediately available funds from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Administrative Agent under the Letter of Credit with respect to which any Xxxxxx Revolving Lender has made a Participation Advance to Administrative Agent, or (ii) in payment of interest on such a payment made by Issuer or Administrative Agent under such a Letter of Credit, Administrative Agent will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by Administrative Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage of such funds, except Administrative Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Administrative Agent (and, to the extent that any of the other Revolving Lender(s) holding the Revolving Commitment have funded any portion such of any Defaulting Lender’s Participation Advance in accordance with the provisions of Section 2.22, Administrative Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) . If Issuer or Administrative Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Administrative Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Revolving Lender shall, on demand of Administrative Agent, forthwith return to Issuer or Administrative Agent the amount of its Revolving Commitment Percentage of any amounts so returned by Issuer or Administrative Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Security Agreement (Asv Holdings, Inc.)
Repayment of Participation Advances. (a) Upon (and only upon) receipt by Agent for the account of Issuer of immediately available funds in Dollars from Xxxxxxxxx Borrowers (i) in reimbursement of any payment made by Issuer or Agent under the Letter of Credit with respect to which any Xxxxxx has made a Participation Advance to Agent, or (ii) in payment of interest on such a payment made by Issuer or Agent under such a Letter of Credit, Agent will pay to each Lender holding a Revolving Commitment, in the same funds as those received by Agent, the amount of such Xxxxxx’s 's Revolving Commitment Percentage of such funds, except Agent shall retain the amount of the Revolving Commitment Percentage of such funds of any Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Lender’s 's Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(b) . If Issuer or Agent is required at any time to return to any Borrower, or to a trustee, receiver, liquidator, custodian, or any official in any insolvency proceeding, any portion of the payments made by Borrowers to Issuer or Agent pursuant to Section 2.15(a) in reimbursement of a payment made under the Letter of Credit or interest or fee thereon, each applicable Lender shall, on demand of Agent, forthwith return to Issuer or Agent the amount of its Revolving Commitment Percentage of the Dollar Equivalent of any amounts so returned by Issuer or Agent plus interest at the Effective Federal Funds Effective Rate.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Great Lakes Dredge & Dock CORP)
Repayment of Participation Advances. (ai) Upon (and only upon) receipt by the Administrative Agent for the account of Issuer the applicable Issuing Lender of immediately available funds from Xxxxxxxxx the Borrower (iA) in reimbursement of any payment made by Issuer or Agent such Issuing Lender under the a Letter of Credit with respect to which any Xxxxxx Lender has made a Participation Advance to Agent, the Administrative Agent or (iiB) in payment of interest on such a payment made by Issuer or Agent such Issuing Lender under such a Letter of Credit, the Administrative Agent on behalf of such Issuing Lender will pay to each Lender holding a Revolving CommitmentLender, in the same funds as those received by the Administrative Agent, the amount of such XxxxxxRevolving Lender’s Revolving Commitment Percentage Pro Rata Share of such funds, except the Administrative Agent shall retain for the account of such Issuing Lender the amount of the Revolving Commitment Percentage Pro Rata Share of such funds of any Revolving Lender holding a Revolving Commitment that did not make a Participation Advance in respect of such payment by Agent (and, to the extent that any of the other Lender(s) holding the Revolving Commitment have funded any portion such Defaulting Issuing Lender’s Participation Advance in accordance with the provisions of Section 2.22, Agent will pay over to such Non-Defaulting Lenders a pro rata portion of the funds so withheld from such Defaulting Lender).
(bii) If Issuer or the Administrative Agent is required at any time to return to any BorrowerLoan Party, or to a trustee, receiver, liquidator, custodian, custodian or any official in any insolvency proceedingInsolvency Proceeding, any portion of the payments any payment made by Borrowers any Loan Party to Issuer or the Administrative Agent for the account of an Issuing Lender pursuant to this Section 2.15(a) 2.9 in reimbursement of a payment made under the a Letter of Credit or interest or fee thereon, each applicable Revolving Lender shall, on demand of the Administrative Agent, forthwith return to Issuer or the Administrative Agent for the account of such Issuing Lender the amount of its Revolving Commitment Percentage Pro Rata Share of any amounts so returned by Issuer or the Administrative Agent plus interest thereon from the date such demand is made to the date such amounts are returned by such Revolving Lender to the Administrative Agent, at a rate per annum equal to the Effective Federal Funds RateEffective Rate in effect from time to time.
Appears in 1 contract
Samples: Credit Agreement (Shenandoah Telecommunications Co/Va/)
