Unallocated Funds. If the Administrative Agent receives funds for application to the Obligations of the Loan Parties under or in respect of the Loan Documents under circumstances for which the Loan Documents do not specify the manner in which such funds are to be applied, the Administrative Agent may, but shall not be obligated to, elect to distribute such funds to each of the Lenders in accordance with such Lender’s ratable share of the sum of the Outstanding Amount of all Loans outstanding at such time and, in repayment or prepayment of such of the outstanding Loans or other Obligations then owing to such Lender.
Appears in 5 contracts
Samples: Term Loan Credit Agreement (CommScope Holding Company, Inc.), Credit Agreement (Zekelman Industries, Inc.), Credit Agreement (Cooper-Standard Holdings Inc.)
Unallocated Funds. If the Administrative Agent receives funds for application to the First Lien Obligations of the Loan Parties under or in respect of the Loan Documents under circumstances for which the Loan Documents do not specify the manner in which such funds are to be applied, the Administrative Agent may, but shall not be obligated to, elect to distribute such funds to each of the Lenders in accordance with such Lender’s ratable share of the sum Pro Rata Share of the Outstanding Amount of all Term Loans outstanding at such time andtime, in repayment or prepayment of such of the outstanding Term Loans or other First Lien Obligations then owing to such Lender.
Appears in 5 contracts
Samples: First Lien Credit Agreement (GMS Inc.), First Lien Credit Agreement (Aleris Corp), First Lien Credit Agreement (GMS Inc.)
Unallocated Funds. If the Administrative Agent receives funds for application to the First Lien Obligations of the Loan Parties under or in respect of the Loan Documents under circumstances for which the Loan Documents do not specify the manner in which such funds are to be applied, the Administrative Agent may, but shall not be obligated to, elect to distribute such funds to each of the Lenders in accordance with such LenderLxxxxx’s ratable share of the sum Pro Rata Share of the Outstanding Amount of all Term Loans outstanding at such time andtime, in repayment or prepayment of such of the outstanding Term Loans or other First Lien Obligations then owing to such Lender.
Appears in 3 contracts
Samples: First Lien Credit Agreement (GMS Inc.), First Lien Credit Agreement (GMS Inc.), First Lien Credit Agreement (GMS Inc.)
Unallocated Funds. If the Administrative Agent receives funds for application to the Second Lien Obligations of the Loan Parties under or in respect of the Loan Documents under circumstances for which the Loan Documents do not specify the manner in which such funds are to be applied, the Administrative Agent may, but shall not be obligated to, elect to distribute such funds to each of the Lenders in accordance with such Lender’s ratable share of the sum Pro Rata Share of the Outstanding Amount of all Term Loans outstanding at such time andtime, in repayment or prepayment of such of the outstanding Term Loans or other Second Lien Obligations then owing to such Lender.
Appears in 2 contracts
Samples: Intellectual Property Security Agreement (GMS Inc.), Assignment and Assumption (At Home Group Inc.)
