Common use of Repayment with U.S. Revolving Loans Clause in Contracts

Repayment with U.S. Revolving Loans. On any day on which Airgas shall have requested, or shall be deemed to have requested, a U.S. Revolving Loan advance to reimburse a drawing under a U.S. Letter of Credit, the Agent shall give notice to the U.S. Revolving Lenders that a U.S. Revolving Loan has been requested or deemed requested by Airgas to be made in connection with a drawing under a U.S. Letter of Credit, in which case a U.S. Revolving Loan advance comprised of U.S. Base Rate Loans (or Eurocurrency Loans to the extent Airgas has complied with the procedures of Section 2.1(b)(i) with respect thereto) shall be immediately made to Airgas by all U.S. Revolving Lenders (notwithstanding any termination of the Commitments pursuant to Section 9.2) pro rata based on the respective Applicable Percentages of the U.S. Revolving Lenders and the proceeds thereof shall be paid directly to the U.S. Issuing Lender for application to the respective U.S. LOC Obligations. Each U.S. Revolving Lender hereby irrevocably agrees to make its Applicable Percentage of each such U.S. Revolving Loan immediately upon any such request or deemed request in the amount, in the manner and on the date specified in the preceding sentence notwithstanding (i) the amount of such borrowing may not comply with the minimum amount for advances of U.S. Revolving Loans otherwise required hereunder, (ii) whether any conditions specified in Section 5.2 are then satisfied, (iii) whether a Default or an Event of Default then exists, (iv) failure for any such request or deemed request for U.S. Revolving Loan to be made by the time otherwise required hereunder, (v) whether the date of such borrowing is a date on which U.S. Revolving Loans are otherwise permitted to be made hereunder or (vi) any termination of the Commitments relating thereto immediately prior to or contemporaneously with such borrowing. In the event that any U.S. Revolving Loan cannot for any reason be made on the date otherwise required above (including, without limitation, as a result of the commencement of a proceeding under the Bankruptcy Code with respect to Airgas), then each U.S. Revolving Lender hereby agrees that it shall forthwith purchase (as of the date such borrowing would otherwise have occurred, but adjusted for any payments received from Airgas on or after such date and prior to such purchase) from the U.S. Issuing Lender in U.S. Dollars such participation in the outstanding U.S. LOC Obligations as shall be necessary to cause each U.S. Revolving Lender to share in such U.S. LOC Obligations ratably (based upon the respective Applicable Percentages of the U.S. Revolving Lenders), provided that at the time any purchase of participation pursuant to this sentence is actually made, the purchasing U.S. Revolving Lender shall be required to pay to the U.S. Issuing Lender, to the extent not paid to the U.S. Issuing Lender by Airgas in accordance with the terms of Section 2.2(d), interest on the principal amount of participation purchased for each day from and including the day upon which such borrowing would otherwise have occurred to but excluding the date of payment for such participation, at the rate equal to, if paid within two (2) Business Days of the date of the U.S. Revolving Loan advance, the Federal Funds Rate, and thereafter at a rate equal to the U.S. Base Rate. Until each U.S. Revolving Lender funds its U.S. Revolving Loan or purchases its participation pursuant to this Section 2.2(e) to reimburse the U.S. Issuing Lender for any amount drawn under any U.S. Letter of Credit, interest in respect of such U.S. Revolving Lender’s Applicable Percentage of such amount shall be solely for the account of the U.S. Issuing Lender.

Repayment with U.S. Revolving Loans. On any day on which Airgas the Company shall have requested, or shall be been deemed to have requested, requested a U.S. Revolving Loan advance to reimburse a drawing under a U.S. Letter of Credit, the Administrative Agent shall give notice to the U.S. Revolving Lenders that a U.S. Revolving Loan has been requested or deemed requested by Airgas to be made in connection with a drawing under a U.S. Letter of Credit, in which case a U.S. Revolving Loan advance borrowing comprised entirely of U.S. Alternate Base Rate Loans (or Eurocurrency Loans to the extent Airgas has complied with the procedures of Section 2.1(b)(i) with respect theretoeach such borrowing, a “Mandatory LOC Borrowing”) shall be immediately made (without giving effect to Airgas by all U.S. Revolving Lenders (notwithstanding any termination of the Commitments pursuant to Section 9.27.2) pro rata based on the each U.S. Revolving Lender’s respective Applicable Percentages U.S. Revolving Commitment Percentage (determined before giving effect to any termination of the U.S. Revolving Lenders Commitments pursuant to Section 7.2) and the proceeds thereof shall be paid directly to the U.S. Issuing Lender for application to the respective U.S. LOC Obligations. Each U.S. Revolving Lender hereby irrevocably agrees to make its Applicable Percentage of each such U.S. Revolving Loan Loans immediately upon any such request or deemed request on account of each Mandatory LOC Borrowing in the amount, amount and in the manner and on the date specified in the preceding sentence and on the same such date notwithstanding (i) the amount of such borrowing Mandatory LOC Borrowing may not comply with the minimum amount for advances borrowings of U.S. Revolving Loans otherwise required hereunder, (ii) whether any conditions specified in Section 5.2 4.2 are then satisfied, except for the condition specified in Section 4.2(c)(i), (iii) whether a Default or an Event of Default then exists, (iv) failure for any such request or deemed request for U.S. a Revolving Loan to be made by the time otherwise required hereunderin Section 2.1(b)(i), (v) whether the date of such borrowing is a date on which U.S. Revolving Loans are otherwise permitted to be made hereunder Mandatory LOC Borrowing, or (vi) any termination reduction in the U.S. Revolving Committed Amount after any such Letter of the Commitments relating thereto immediately prior to or contemporaneously with such borrowingCredit may have been drawn upon. In the event that any U.S. Revolving Loan Mandatory LOC Borrowing cannot for any reason be made on the date otherwise required above (including, without limitation, as a result of the commencement of a proceeding under the Bankruptcy Code with respect to AirgasCode), then each such U.S. Revolving Lender hereby agrees that it shall forthwith purchase fund (as of the date such borrowing the Mandatory LOC Borrowing would otherwise have occurred, but adjusted for any payments received from Airgas the Company on or after such date and prior to such purchase) from the U.S. Issuing Lender in U.S. Dollars such participation its Participation Interests in the outstanding U.S. LOC Obligations as shall be necessary to cause each U.S. Revolving Lender to share Obligations; provided, further, that in such U.S. LOC Obligations ratably (based upon the respective Applicable Percentages of the U.S. Revolving Lenders), provided that at the time event any purchase of participation pursuant to this sentence is actually made, the purchasing U.S. Revolving Lender shall be required fail to pay to the U.S. Issuing Lender, to the extent not paid to the U.S. Issuing Lender by Airgas in accordance with the terms of Section 2.2(d), interest fund its Participation Interest on the principal amount of participation purchased for each day from and including the day upon which such borrowing Mandatory LOC Borrowing would otherwise have occurred occurred, then the amount of such Lender’s unfunded Participation Interest therein shall bear interest payable by such Lender to but excluding the date of payment for such participationIssuing Lender upon demand, at the rate equal to, if paid within two (2) Business Days of the date of the U.S. Revolving Loan advancesuch date, the Federal Funds Rate, and thereafter at a rate equal to the U.S. Alternate Base Rate. Until each U.S. Revolving Lender funds its U.S. Revolving Loan or purchases its participation pursuant to this Section 2.2(e) to reimburse the U.S. Issuing Lender for any amount drawn under any U.S. Letter of Credit, interest in respect of such U.S. Revolving Lender’s Applicable Percentage of such amount shall be solely for the account of the U.S. Issuing Lender.

Repayment with U.S. Revolving Loans. On any day on which Airgas the Company shall have requested, or shall be been deemed to have requested, requested a U.S. Revolving Loan advance to reimburse a drawing under a U.S. Letter of Credit, the Administrative Agent shall give notice to the U.S. Revolving Lenders that a U.S. Revolving Loan has been requested or deemed requested by Airgas to be made in connection with a drawing under a U.S. Letter of CreditCredit equal to the Dollar Amount of such drawing, in which case a U.S. Revolving Loan advance borrowing comprised entirely of U.S. Alternate Base Rate Loans (or Eurocurrency Loans to the extent Airgas has complied with the procedures of Section 2.1(b)(i) with respect theretoeach such borrowing, a “Mandatory LOC Borrowing”) shall be immediately made (without giving effect to Airgas by all U.S. Revolving Lenders (notwithstanding any termination of the Commitments pursuant to Section 9.27.2) pro rata based on the each U.S. Revolving Lender’s respective Applicable Percentages U.S. Revolving Commitment Percentage (determined before giving effect to any termination of the U.S. Revolving Lenders Commitments pursuant to Section 7.2) and the proceeds thereof shall be paid directly to the U.S. Issuing Lender for application to the respective U.S. LOC Obligations. Each U.S. Revolving Lender hereby irrevocably agrees to make its Applicable Percentage of each such U.S. Revolving Loan Loans immediately upon any such request or deemed request on account of each Mandatory LOC Borrowing in the amount, amount and in the manner and on the date specified in the preceding sentence and on the same such date notwithstanding (i) the amount of such borrowing Mandatory LOC Borrowing may not comply with the minimum amount for advances borrowings of U.S. Revolving Loans otherwise required hereunder, (ii) whether any conditions specified in Section 5.2 4.2 are then satisfied, except for the condition specified in Section 4.2(c)(i), (iii) whether a Default or an Event of Default then exists, (iv) failure for any such request or deemed request for U.S. a Revolving Loan to be made by the time otherwise required hereunderin Section 2.1(b)(i), (v) whether the date of such borrowing is a date on which U.S. Revolving Loans are otherwise permitted to be made hereunder Mandatory LOC Borrowing, or (vi) any termination reduction in the U.S. Revolving Committed Amount after any such Letter of the Commitments relating thereto immediately prior to or contemporaneously with such borrowingCredit may have been drawn upon. In the event that any U.S. Revolving Loan Mandatory LOC Borrowing cannot for any reason be made on the date otherwise required above (including, without limitation, as a result of the commencement of a proceeding under the Bankruptcy Code with respect to AirgasCode), then each such U.S. Revolving Lender hereby agrees that it shall forthwith purchase fund (as of the date such borrowing the Mandatory LOC Borrowing would otherwise have occurred, but adjusted for any payments received from Airgas the Company on or after such date and prior to such purchase) from the U.S. Issuing Lender in U.S. Dollars such participation its Participation Interests in the outstanding U.S. LOC Obligations as shall be necessary to cause each U.S. Revolving Lender to share Obligations; provided, further, that in such U.S. LOC Obligations ratably (based upon the respective Applicable Percentages of the U.S. Revolving Lenders), provided that at the time event any purchase of participation pursuant to this sentence is actually made, the purchasing U.S. Revolving Lender shall be required fail to pay to the U.S. Issuing Lender, to the extent not paid to the U.S. Issuing Lender by Airgas in accordance with the terms of Section 2.2(d), interest fund its Participation Interest on the principal amount of participation purchased for each day from and including the day upon which such borrowing Mandatory LOC Borrowing would otherwise have occurred occurred, then the amount of such Lender’s unfunded Participation Interest therein shall bear interest payable by such Lender to but excluding the date of payment for such participationIssuing Lender upon demand, at the rate equal to, if paid within two (2) Business Days of the date of the U.S. Revolving Loan advancesuch date, the Federal Funds Rate, and thereafter at a rate equal to the U.S. Alternate Base Rate. Until each U.S. Revolving Lender funds its U.S. Revolving Loan or purchases its participation pursuant to this Section 2.2(e) to reimburse the U.S. Issuing Lender for any amount drawn under any U.S. Letter of Credit, interest in respect of such U.S. Revolving Lender’s Applicable Percentage of such amount shall be solely for the account of the U.S. Issuing Lender.

Repayment with U.S. Revolving Loans. On any day on which Airgas shall have requested, or shall be deemed to have requested, a U.S. Revolving Loan advance to reimburse a drawing under a U.S. Letter of Credit, the U.S. Agent shall give notice to the U.S. Revolving Lenders that a U.S. Revolving Loan has been requested or deemed requested by Airgas to be made in connection with a drawing under a U.S. Letter of Credit, in which case a U.S. Revolving Loan advance comprised of U.S. Base Rate Loans (or Eurocurrency Loans to the extent Airgas has complied with the procedures of Section 2.1(b)(i2A.1(b)(i) with respect thereto) shall be immediately made to Airgas by all U.S. Revolving Lenders (notwithstanding any termination of the Commitments pursuant to Section 9.2) pro rata based on the respective Applicable U.S. Revolving Commitment Percentages of the U.S. Revolving Lenders (determined before giving effect to any termination of the Commitments pursuant to Section 9.2) and the proceeds thereof shall be paid directly to the U.S. Issuing Lender for application to the respective U.S. LOC Obligations. Each U.S. Revolving Lender hereby irrevocably agrees to make its Applicable Percentage pro rata share of each such U.S. Revolving Loan immediately upon any such request or deemed request in the amount, in the manner and on the date specified in the preceding sentence notwithstanding (i) the amount of such borrowing may not comply with the minimum amount for advances of U.S. Revolving Loans otherwise required hereunder, (ii) whether any conditions specified in Section 5.2 are then satisfied, (iii) whether a Default or an Event of Default then exists, (iv) failure for any such request or deemed request for U.S. Revolving Loan to be made by the time otherwise required hereunder, (v) whether the date of such borrowing is a date on which U.S. Revolving Loans are otherwise permitted to be made hereunder or (vi) any termination of the Commitments relating thereto immediately prior to or contemporaneously with such borrowing. In the event that any U.S. Revolving Loan cannot for any reason be made on the date otherwise required above (including, without limitation, as a result of the commencement of a proceeding under the Bankruptcy Code with respect to Airgas), then each U.S. Revolving Lender hereby agrees that it shall forthwith purchase (as of the date such borrowing would otherwise have occurred, but adjusted for any payments received from Airgas on or after such date and prior to such purchase) from the U.S. Issuing Lender in U.S. Dollars such participation in the outstanding U.S. LOC Obligations as shall be necessary to cause each U.S. Revolving Lender to share in such U.S. LOC Obligations ratably (based upon the respective Applicable U.S. Revolving Commitment Percentages of the U.S. Revolving LendersLenders (determined before giving effect to any termination of the Commitments pursuant to Section 9.2)), provided that at the time any purchase of participation pursuant to this sentence is actually made, the purchasing U.S. Revolving Lender shall be required to pay to the U.S. Issuing Lender, to the extent not paid to the U.S. Issuing Lender by Airgas in accordance with the terms of Section 2.2(d)subsection (d) hereof, interest on the principal amount of participation purchased for each day from and including the day upon which such borrowing would otherwise have occurred to but excluding the date of payment for such participation, at the rate equal to, if paid within two (2) Business Days of the date of the U.S. Revolving Loan advance, the Federal Funds Rate, and thereafter at a rate equal to the U.S. Base Rate. Until each U.S. Revolving Lender funds its U.S. Revolving Loan or purchases its participation pursuant to this Section 2.2(e) to reimburse the U.S. Issuing Lender for any amount drawn under any U.S. Letter of Credit, interest in respect of such U.S. Revolving Lender’s Applicable Percentage of such amount shall be solely for the account of the U.S. Issuing Lender.