ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation: (i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 12.2, to a Tranche A Loan in which all Tranche A Lenders participate. (ii) The Administrative Agent and the Tranche A Lenders shall "net out" each Tranche A Lender's respective contributions towards the Tranche A 125 133 Loans, so that each Tranche A Lender holds that Tranche A Lender's Tranche A Percentage Commitment of the Tranche A Loans and advances. (b) Following the initiation of a Liquidation, each Tranche A Lender shall contribute, towards any L/C thereafter honored and not immediately reimbursed by the Borrowers, that Tranche A Lender's Tranche A Percentage Commitment of such honoring.
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Sources: Loan and Security Agreement (Restoration Hardware Inc)
ACTIONS AT AND FOLLOWING INITIATION OF LIQUIDATION. (a) At the initiation of a Liquidation:
(i) The unpaid principal balance of the SwingLine Loan (if any) shall be converted, pursuant to Section 12.213.1, to a Tranche A Revolving Credit Loan in which all Tranche A Lenders participate.
(ii) The Administrative Agent and the Tranche A Lenders shall "net out" each Tranche A Lender's respective contributions towards the Tranche A 125 133 Revolving Credit Loans, so that each Tranche A Lender holds that Tranche A Lender's Tranche A Revolving Credit Commitment Percentage Commitment of the Tranche A Loans and advancesRevolving Credit Loans.
(b) Following the initiation of a Liquidation, each Tranche A Lender shall contribute, contribute towards any L/C thereafter honored and not immediately reimbursed by the Borrowers, Borrowers that Tranche A Lender's Revolving Credit Tranche A Commitment Percentage Commitment of such honoring.
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