Common use of Settlement Among Lenders Clause in Contracts

Settlement Among Lenders. (a) The amount of each Lender’s Applicable Percentage of outstanding Loans (including outstanding Swing Line Loans), shall be computed weekly (or more frequently in the Administrative Agent’s reasonable discretion) and shall be adjusted upward or downward based on all Loans (including Swing Line Loans) and repayments of Loans (including Swing Line Loans) received by the Administrative Agent as of 3:00 p.m. on the first Business Day (such date, the “Settlement Date”) following the end of the period specified by the Administrative Agent. (b) The Administrative Agent shall deliver to each of the Lenders promptly after a Settlement Date a summary statement of the amount of outstanding Committed Loans for the period and the amount of repayments received for the period. As reflected on the summary statement, (i) the Administrative Agent shall transfer to each Revolving Lender or FILO Lender, as applicable, its Applicable Percentage of repayments under the applicable Facility, and (ii) each Lender shall transfer to the Administrative Agent (as provided below) or the Administrative Agent shall transfer to each Revolving Lender or FILO Lender, as applicable, such amounts as are necessary to insure that, after giving effect to all such transfers, the amount of Committed Loans made by each Revolving Lender or FILO Lender, as applicable, shall be equal to such Lender’s Applicable Percentage of all Revolving Committed

Settlement Among Lenders. (a) The amount of each Revolving Credit Lender’s Applicable Revolving Credit Percentage of outstanding Revolving Credit Loans (including outstanding Swing Line Loans), shall be computed weekly (or more frequently in the Administrative Agent’s reasonable discretion) and such amount shall be adjusted upward or downward based on all Revolving Credit Loans (including Swing Line Loans) and repayments of Revolving Credit Loans (including Swing Line Loans) received by the Administrative Agent as of 3:00 p.m. P.M. on the first Business Day (such date, the “Settlement Date”) following the end of the period specified by the Administrative Agent. (b) The Administrative Agent shall deliver to each of the Revolving Credit Lenders promptly after a Settlement Date a summary statement of the amount of outstanding Committed Revolving Credit Loans for the period and the amount of repayments received for the period. As reflected on the summary statement, (i) the Administrative Agent shall transfer to each Revolving Credit Lender or FILO Lender, as applicable, its Applicable Percentage of repayments under the applicable Facilityrepayments, and (ii) each Revolving Credit Lender shall transfer to the Administrative Agent (as provided below) or the Administrative Agent shall transfer to each Revolving Lender or FILO Credit Lender, as applicable, such amounts as are necessary to insure that, after giving effect to all such transfers, the amount Revolving Credit Exposure of Committed Loans made by each Revolving Credit Lender or FILO Lender, as applicable, shall be equal to such Revolving Credit Lender’s Applicable Percentage of all Revolving Committedthe Total 96