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Common use of Repayment of Participation Revolving Loans Clause in Contracts

Repayment of Participation Revolving Loans. (i) Upon (and only upon) receipt by the Administrative Agent for its account of immediately available funds from the Borrowers (i) in reimbursement of any payment made by the Administrative Agent under the Letter of Credit with respect to which any Lender has made a Participation Revolving Loan to the Administrative Agent or (ii) in payment of interest on such a payment made by the Administrative Agent under such a Letter of Credit, the Administrative Agent will pay to each Lender, in the same funds as those received by the Administrative Agent, the amount of such Lender’s pro rata share of such funds, except the Administrative Agent shall retain the amount of the pro rata share of such funds of any Lender that did not make a Participation Revolving Loan in respect of such payment by the Administrative Agent. (ii) If the Administrative Agent is required at any time to return to the Borrowers, or to a trustee, receiver, liquidator, custodian, or any official in any proceeding under any Debtor Relief Law, any portion of the payments made by the Borrowers to the Administrative Agent pursuant to Section 2.03(e)(i) in reimbursement of a payment made under a Letter of Credit or interest or fee thereon, each Lender shall, on demand of the Administrative Agent, forthwith return to the Administrative Agent the amount of its pro rata share of any amounts so returned by the Administrative Agent plus interest at the Federal Funds Rate.

Appears in 5 contracts

Samples: Abl Credit Agreement (Steinway Musical Instruments Holdings, Inc.), Abl Credit Agreement (Steinway Musical Instruments Holdings, Inc.), Abl Credit Agreement (Steinway Musical Instruments Holdings, Inc.)

Repayment of Participation Revolving Loans. (ia) Upon (and only upon) receipt by the Administrative Agent for its account of immediately available funds from the Borrowers Borrower (i) in reimbursement of any payment made by the Administrative Agent under the Letter of Credit with respect to which any Lender has made a Participation Revolving Loan to the Administrative Agent or (ii) in payment of interest on such a payment made by the Administrative Agent under such a Letter of Credit, the Administrative Agent will pay to each Revolving Loan Lender, in the same funds as those received by the Administrative Agent, the amount of such Lender’s pro rata share 's Pro Rata Share of such funds, except the Administrative Agent shall retain the amount of the pro rata share Pro Rata Share of such funds of any Revolving Loan Lender that did not make a Participation Revolving Loan in respect of such payment by the Administrative Agent. (iib) If the Administrative Agent is required at any time to return to the BorrowersBorrower, or to a trustee, receiver, liquidator, custodian, or any official in any proceeding under any Debtor Relief Lawinsolvency proceeding, any portion of the payments made by the Borrowers Borrower to the Administrative Agent pursuant to Section 2.03(e)(i3.05(a) in reimbursement of a payment made under a the Letter of Credit or interest or fee thereon, each Revolving Loan Lender shall, on demand of the Administrative Agent, forthwith return to the Administrative Agent the amount of its pro rata share Pro Rata Share of any amounts so returned by the Administrative Agent plus interest at the Federal Funds Effective Rate.

Appears in 4 contracts

Samples: Financing Agreement (Motorcar Parts America Inc), Financing Agreement (Motorcar Parts America Inc), Financing Agreement (Motorcar Parts America Inc)

Repayment of Participation Revolving Loans. (i) Upon (and only upon) receipt by the Administrative Agent for its account of immediately available funds from the Borrowers (i) in reimbursement of any payment made by the Administrative Agent under the Letter of Credit with respect to which any Lender Xxxxxx has made a Participation Revolving Loan to the Administrative Agent or (ii) in payment of interest on such a payment made by the Administrative Agent under such a Letter of Credit, the Administrative Agent will pay to each Lender, in the same funds as those received by the Administrative Agent, the amount of such LenderXxxxxx’s pro rata share of such funds, except the Administrative Agent shall retain the amount of the pro rata share of such funds of any Lender that did not make a Participation Revolving Loan in respect of such payment by the Administrative Agent. (ii) If the Administrative Agent is required at any time to return to the Borrowers, or to a trustee, receiver, liquidator, custodian, or any official in any proceeding under any Debtor Relief Law, any portion of the payments made by the Borrowers to the Administrative Agent pursuant to Section 2.03(e)(i) in reimbursement of a payment made under a Letter of Credit or interest or fee thereon, each Lender shall, on demand of the Administrative Agent, forthwith return to the Administrative Agent the amount of its pro rata share of any amounts so returned by the Administrative Agent plus interest at the Federal Funds Rate.

Appears in 3 contracts

Samples: Abl Credit Agreement (Steinway Musical Instruments Holdings, Inc.), Abl Credit Agreement (Steinway Musical Instruments Holdings, Inc.), Abl Credit Agreement (Steinway Musical Instruments Holdings, Inc.)

Repayment of Participation Revolving Loans. (i) Upon (and only upon) receipt by the Administrative Service Agent for its account of immediately available funds from the Borrowers (i) in reimbursement of any payment made by the Administrative Service Agent under the Letter of Credit with respect to which any Lender has made a Participation Revolving Loan to the Administrative Service Agent or (ii) in payment of interest on such a payment made by the Administrative Service Agent under such a Letter of Credit, the Administrative Service Agent will pay to each Revolving Loan Lender, in the same funds as those received by the Administrative Service Agent, the amount of such Lender’s pro rata share Pro Rata Share of such funds, except the Administrative Service Agent shall retain the amount of the pro rata share Pro Rata Share of such funds of any Revolving Loan Lender that did not make a Participation Revolving Loan in respect of such payment by the Administrative Service Agent. (ii) If the Administrative Service Agent is required at any time to return to the Borrowers, or to a trustee, receiver, liquidator, custodian, or any official in any proceeding under any Debtor Relief LawInsolvency Proceeding, any portion of the payments made by the Borrowers to the Administrative Service Agent pursuant to Section 2.03(e)(i2.3(e)(i) in reimbursement of a payment made under a Letter of Credit or interest or fee thereon, each Revolving Loan Lender shall, on demand of the Administrative Service Agent, forthwith return to the Administrative Service Agent the amount of its pro rata share Pro Rata Share of any amounts so returned by the Administrative Service Agent plus interest at the Federal Funds Effective Rate.

Appears in 1 contract

Samples: Financing Agreement (Metalico Inc)