Common use of Settlement Procedures as to Revolving Credit Loans Clause in Contracts

Settlement Procedures as to Revolving Credit Loans. To the extent and in the manner hereinafter provided in this SECTION 4.8, settlement among the Lenders as to Revolving Credit Loans may occur periodically on Settlement Dates determined from time to time by the Agent, which may occur before or after the occurrence or during the continuance of a Default or Event of Default and whether or not all of the conditions set forth in SECTION 5.2 have been met. On each Settlement Date payments shall be made by or to NationsBank and the other Lenders in the manner provided in this SECTION 4.8 in accordance with the Settlement Report delivered by the Agent pursuant to the provisions of this SECTION 4.8 in respect of such Settlement Date so that as of each Settlement Date, and after giving effect to the transactions to take place on such Settlement Date, each Lender's Net Outstandings shall equal such Lender's Commitment Percentage of the Revolving Credit Loans outstanding.

Appears in 3 contracts

Samples: Loan and Security Agreement (Supreme International Corp), Loan and Security Agreement (Kellstrom Industries Inc), Loan and Security Agreement (Tultex Corp)

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Settlement Procedures as to Revolving Credit Loans. To the extent and in the manner hereinafter provided in this SECTION 4.85.10, settlement among the Lenders as to Revolving Credit Loans may occur periodically on Settlement Dates determined from time to time by the Agent, which may occur before or after the occurrence or during the continuance of a Default or Event of Default and whether or not all of the conditions set forth in SECTION 5.2 SECTIONS 7.1 and 7.2 have been met. On each Settlement Date payments shall be made by or to NationsBank and the other Lenders in the manner provided in this SECTION 4.8 5.10 in accordance with the Settlement Report delivered by the Agent pursuant to the provisions of this SECTION 4.8 5.10 in respect of such Settlement Date so that as of each Settlement Date, and after giving effect to the transactions to take place on such Settlement Date, each Lender's Net Outstandings shall equal such Lender's Commitment Percentage of the Revolving Credit Loans outstanding.

Appears in 1 contract

Samples: Loan and Security Agreement (Compusa Inc)

Settlement Procedures as to Revolving Credit Loans. To the extent and in the manner hereinafter provided in this SECTION 4.85.8, settlement among the Lenders as to Revolving Credit Loans may occur periodically on Settlement Dates determined from time to time by the Agent, which may occur before or after the occurrence or during the continuance of a Default or Event of Default and whether or not all of the conditions set forth in SECTION 5.2 6.2 have been met. On each Settlement Date payments shall be made by or to NationsBank and the other Lenders in the manner provided in this SECTION 4.8 5.8 in accordance with the Settlement Report delivered by the Agent pursuant to the provisions of this SECTION 4.8 5.8 in respect of such Settlement Date so that as of each Settlement Date, and after giving effect to the transactions to take place on such Settlement Date, each Lender's Net Outstandings shall equal such Lender's Commitment Percentage of the Revolving Credit Loans outstanding.

Appears in 1 contract

Samples: Loan and Security Agreement (Supreme International Corp)

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Settlement Procedures as to Revolving Credit Loans. To the extent and in the manner hereinafter provided in this SECTION 4.83.8, settlement among the Lenders as to Revolving Credit Loans may occur periodically on Settlement Dates determined from time to time by the Agent, which may occur before or after the occurrence or during the continuance of a Default or Event of Default and whether or not all of the conditions set forth in SECTION 5.2 3.3 have been met. On each Settlement Date payments shall be made by or to NationsBank and the other Lenders in the manner provided in this SECTION 4.8 3.8 in accordance with the Settlement Report delivered by the Agent pursuant to the provisions of this SECTION 4.8 3.8 in respect of such Settlement Date so that as of each Settlement Date, and after giving effect to the transactions to take place on such Settlement Date, each Lender's Net Outstandings shall equal such Lender's Commitment Percentage Ratable Share of the Revolving Credit Loans outstandingLoans.

Appears in 1 contract

Samples: Loan and Security Agreement (Nabi /De/)

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