Adjusting Payments. On each Accordion Effective Date, the Administrative Agent shall determine the amount of adjusting payments that may need to be made amongst the Lenders to ensure that their respective shares in outstanding Loans under the Revolving Loans equal their respective Pro Rata Share of the Revolving Loans. Each Accordion Lender shall advance to the Administrative Agent the amount of any such adjusting payment so required of it and the Administrative Agent shall, upon request, advance to each other Lender the amount of the corresponding adjusting payment required to be paid to it as determined above. The Borrower shall be obliged to repay outstanding Revolving Loans amongst the Lenders as adjusted pursuant to this Subsection 11.15(b). Adjusting payments in respect of BA Advances and SOFR Loans shall not take place until the expiry of their current terms and interest periods.
Appears in 2 contracts
Sources: Second Amended and Restated Loan Agreement (Andersons, Inc.), Loan Agreement (Andersons, Inc.)
Adjusting Payments. On each Accordion Effective Date, the Administrative Agent shall determine the amount of adjusting payments that may need to be made amongst the Lenders to ensure that their respective shares in outstanding Loans under the Revolving Loans equal their respective Pro Rata Share of the Revolving Loans. Each Accordion Lender shall advance to the Administrative Agent the amount of any such adjusting payment so required of it and the Administrative Agent shall, upon request, advance to each other Lender the amount of the corresponding adjusting payment required to be paid to it as determined above. The Borrower shall be obliged to repay outstanding Revolving Loans amongst the Lenders as adjusted pursuant to this Subsection 11.15(b). Adjusting payments in respect of BA Advances and SOFR Libor Rate Loans shall not take place until the expiry of their current terms and interest periods.
Appears in 1 contract
Sources: Loan Agreement (Andersons, Inc.)