Roll Effective Date Sample Clauses
The Roll Effective Date clause establishes the specific date on which certain terms, rates, or conditions within an agreement will change or reset. In practice, this clause is often used in financial contracts, such as loan agreements or derivatives, to indicate when an interest rate will be adjusted or when a new pricing period begins. By clearly defining the timing of these changes, the clause ensures both parties are aware of when new terms take effect, thereby reducing confusion and helping to manage expectations regarding future obligations or benefits.
Roll Effective Date. (a) With effect on the Roll Effective Date, each Lender that has given a Roll Consent (each a “Rolling Lender”) and has, as of the Sixth Amendment Record Date:
(i) an A Facility Commitment shall acquire an A2 Facility Commitment in the amount of such A Facility Commitment and concurrently therewith:
(A) such Lender’s participation in any Outstandings under the A Facility shall be treated as being outstanding under the A2 Facility and no longer outstanding under the A Facility;
(B) such Lender’s A Facility Commitment shall be reduced to zero; and
(C) no further Utilisations of the A2 Facility may be made under this Agreement;
(ii) an A1 Facility Commitment shall acquire an A3 Facility Commitment in the amount of such A1 Facility Commitment and concurrently therewith:
(A) such Lender’s participation in any Outstandings under the A1 Facility shall be treated as being outstanding under the A3 Facility and no longer outstanding under the A1 Facility;
(B) such Lender’s A1 Facility Commitment shall be reduced to zero; and
(C) no further Utilisations of the A3 Facility may be made under this Agreement;
(iii) a B1 Facility Commitment shall acquire a B7 Facility Commitment in the amount of such B1 Facility Commitment and concurrently therewith:
(A) such Lender’s participation in any Outstandings under the B1 Facility shall be treated as being outstanding under the B7 Facility and no longer outstanding under the B1 Facility;
(B) such Lender’s B1 Facility Commitment shall be reduced to zero; and
(C) no further Utilisations of the B7 Facility may be made under this Agreement;
(iv) a B2 Facility Commitment shall acquire a B8 Facility Commitment in the amount of such B2 Facility Commitment and concurrently therewith:
(A) such Lender’s participation in any Outstandings under the B2 Facility shall be treated as being outstanding under the B8 Facility and no longer outstanding under the B2 Facility;
(B) such Lender’s B2 Facility Commitment shall be reduced to zero; and
(C) no further Utilisations of the B8 Facility may be made under this Agreement;
(v) a B3 Facility Commitment shall acquire a B9 Facility Commitment in the amount of such B3 Facility Commitment and concurrently therewith:
(A) such Lender’s participation in any Outstandings under the B3 Facility shall be treated as being outstanding under the B9 Facility and no longer outstanding under the B3 Facility;
(B) such Lender’s B3 Facility Commitment shall be reduced to zero; and
(C) no further Utilisations of the B9 ...