Where Different Maturity Dates Clause Samples
The "Where Different Maturity Dates" clause establishes how obligations or payments with varying due dates are handled within an agreement. It typically outlines the process for managing multiple transactions or instruments that mature at different times, specifying how each is settled or prioritized. This clause ensures that parties clearly understand their responsibilities for each maturity date, preventing confusion and disputes over timing and order of payments.
Where Different Maturity Dates. If, at any time there are Lenders with different Maturity Dates, all Lenders will share in Accommodations based on their Lender's Proportion except to the extent the particular Accommodation requested has a maturity date after the Maturity Date of a Lender, in which case only those Lenders with a Maturity Date later than the maturity date of the requested Accommodation will be required to participate in providing such Accommodation and the Borrower may request a similar Accommodation, to the extent permitted hereunder, from the other Lenders with a maturity date occurring on or before the Maturity Date of such Lenders. Each determination by the Agent of a Lender's Lender's Proportion shall be prima facie evidence thereof.
Where Different Maturity Dates. If, at any time there are Syndicated Lenders with different Syndicated Facility Maturity Dates, all Syndicated Lenders will share in Syndicated Accommodations based on their Lender's Proportion except to the extent the particular Syndicated Accommodation requested has a maturity date after the Syndicated Facility Maturity Date of a Syndicated Lender, in which case only those Syndicated Lenders with a Syndicated Facility Maturity Date later than the maturity date of the requested Syndicated Accommodation will be required to participate in providing such Syndicated Accommodation and the Borrower may request a similar Syndicated Accommodation, to the extent permitted hereunder, from the other Syndicated Lenders with a maturity date occurring on or before the Syndicated Maturity Date of such Syndicated Lenders. Each determination by the Agent of a Syndicated ▇▇▇▇▇▇'s Lender's Proportion shall be prima facie evidence thereof.