Remaining Banks definition
Examples of Remaining Banks in a sentence
The Borrowers also shall repay the Loans of the Remaining Banks outstanding on the Termination Date if such reduction is necessary to cause the sum of Loans and Letters of Credit outstanding on such date not to exceed the Commitments (as reduced).
It is acknowledged that the effect of the termination of the Commitment of the Bank to be Terminated pursuant to clause (1) above and the reduction of the Commitments pursuant to clause (2) above includes, without limitation, that the Ratable Shares of each of the Remaining Banks shall increase ratably and the aggregate of such increases will equal the Ratable Share of the Bank to be Terminated immediately prior to the Termination Date.
Such notice must be delivered at least three Business Days prior to the Termination Date and no more than thirty (30) days following NovaCare's receipt of approval from the Remaining Banks to terminate the Bank to be Terminated.
The Remaining Banks shall not unreasonably withhold such consent if NovaCare is requesting a termination pursuant to clause (i) of the first paragraph of Section 5.04(b).
If the Remaining Banks agree to such termination, NovaCare shall notify all of the Banks of the date on which such termination shall be effective (the "Termination Date").
If NovaCare requests that the Commitment of a Bank be terminated (the "Bank to be Terminated") pursuant to this Section 5.04(b), such Commitment shall be terminated pursuant to the procedures set forth below if each of the Banks other than the Bank to be Terminated (the "Remaining Banks") agrees to such request.
Based upon such calculation, each New Bank and any applicable Remaining Bank shall purchase from the Original Banks such shares in the outstanding Revolving Loans as Agent determines is necessary to cause each Remaining Bank and each New Bank to hold Revolving Loans in each outstanding Revolving Loan Borrowing in a principal amount equal to such Remaining Bank's and such New Bank's Pro Rata Share of such Revolving Loan Borrowings.
The amendments to the 364 Day Credit Agreement set below are agreed to by the Borrowers, the Agents and the Remaining Banks.
The Term Loans of the Remaining Banks and the New Banks shall be deemed to be Term Loans of such Banks under this Agreement and the other Loan Documents for all purposes.
If, in the aggregate, any of the Remaining Banks elect to increase their Commitments by an amount in excess of the aggregate Commitments of the Terminating Banks, then the Commitment of each such Bank shall be increased pro rata on the relative basis of the amount of increase it so elected such that the aggregate amount of all such increases shall be equal to the aggregate Commitments of the Terminating Banks.