Pro Rata Credit definition
Examples of Pro Rata Credit in a sentence
Promptly after receipt of the aggregate amount of Pro Rata Debits, the Managing Facility Agent will transfer to each Reducing Purchaser the amount of such Purchaser's Pro Rata Credit.
Each prepayment of the outstanding Term Loans pursuant to this Section 2.05(a) shall be shall be applied ratably to each of the Term Facility and the Term Facilities (as defined in the Pro Rata Credit Agreement) and to the principal repayment installments thereof in the direct order of maturity, and subject to Section 2.14, each such prepayment shall be paid to the Lenders in accordance with their respective Applicable Percentages in respect the Facility.
Each Lender, severally and not jointly, agrees to lend to Borrower, during the period commencing on the date all conditions precedent set forth in Subsections 7.1 and 7.2 are satisfied or waived as provided herein and ending on the Business Day immediately preceding the Revolving Loan Expiration Date, its Pro Rata Share of each Revolving Loan; provided that no Lender shall be required at any time to lend more than its respective Pro Rata Credit Agreement/D&E Communications, Inc.
Notwithstanding anything to the contrary, in no event shall any Subsidiary be designated an Unrestricted Subsidiary unless such Subsidiary has been or shall substantially concurrently be designated an “Unrestricted Subsidiary” (or equivalent term) under the 2021 Notes, the Pro Rata Credit Agreement Documents and each other Material Indebtedness (if applicable) of any other Loan Party.
For the avoidance of doubt, it is understood and agreed that a portion of the funding of the Closing Date Term F-2 Loan on the Closing Date by each Term F-2 Lender shall be effected via a cashless roll of such Term F Lender’s Applicable Percentage (as defined in the Pro Rata Credit Agreement immediately prior to the Closing Date) of $103,500,000 of the Term F Loan (as defined in the Pro Rata Credit Agreement immediately prior to the Closing Date) pursuant to the Cashless Roll Agreement.
For the avoidance of doubt, it is understood and agreed that the funding of the Term F Loans on the Closing Date by the Term F Lenders shall be effected via a cashless roll of such Term F Lender’s Applicable Percentage (as defined in the Pro Rata Credit Agreement immediately prior to the Closing Date) of $358,000,000 of the Term F Loan (as defined in the Pro Rata Credit Agreement immediately prior to the Closing Date) pursuant to the Cashless Roll Agreement.
For purposes hereof, “Specified Credit Agreement” means, at any time, each of the DDTL Agreement, the BofA Term Loan Agreement and the Pro Rata Credit Agreement if, with respect to any such agreement, loans and/or commitments are then outstanding under such agreement at such time.