Summary of Existing Loans. The initial Advance under the New Facility shall be used to pay any Existing Loans held by the Exiting Lenders. Prior to the date the conditions precedent set forth in Article 5 of the Credit Agreement are satisfied (such date being the "Effective Date"), the Agent shall identify the Existing Loans payable by the Company under the Existing Agreements to each Exiting Lender and advise the Continuing Lenders of such amount. The aggregate outstanding balance of the Existing Loans held by the Exiting Lenders on the Effective Date shall be hereinafter referred to as the "Exiting Lender Pay-Off Amount".
Appears in 2 contracts
Samples: Revolving Credit Agreement (Source One Mortgage Services Corp), Revolving Credit Agreement (Source One Mortgage Services Corp)
Summary of Existing Loans. The initial Advance under the New Facility shall be used to pay any Existing Loans held by the Exiting Lenders. Prior to the date the conditions precedent set forth in Article 5 V of the Credit Agreement are satisfied (such date being the "Effective Date"), the Agent shall identify the Existing Loans payable by the Company under the Existing Agreements to each Exiting Lender and advise the Continuing Lenders of such amount. The aggregate outstanding balance of the Existing Loans held by the Exiting Lenders on the Effective Date shall be hereinafter referred to as the "Exiting Lender Pay-Off Amount".
Appears in 1 contract
Samples: Revolving Credit Agreement (Source One Mortgage Services Corp)
Summary of Existing Loans. The initial Advance under the New Facility shall be used to pay any Existing Loans held by the Exiting Lenders. Prior to the date the conditions precedent set forth in Article 5 V of the Credit Agreement are satisfied (such date being the "“Effective Date"”), the Agent shall identify the Existing Loans payable by the Company under the Existing Agreements Agreement to each Exiting Lender and advise the Continuing Lenders of such amount. The aggregate outstanding balance of the Existing Loans held by the Exiting Lenders on the Effective Date shall be hereinafter referred to as the "“Exiting Lender Pay-Off Amount"”.
Appears in 1 contract
Samples: Assignment Agreement (Rouse Company)