Common use of Equalization of Loans and Commitments Clause in Contracts

Equalization of Loans and Commitments. Upon the satisfaction of the conditions precedent set forth in Section 6.1 hereof, all loans outstanding under the Existing Loan Agreement shall remain outstanding as the initial borrowing of Loans under this Agreement and, in connection therewith, the Borrower shall be deemed to have prepaid all outstanding LIBO Loans on the Restatement Date. On the Restatement Date, the Lenders each agree to make such purchases and sales of interests in the outstanding Loans between themselves so that each Lender is then holding its relevant Percentage of outstanding Loans. Such purchases and sales shall be arranged through the Administrative Agent and each Lender hereby agrees to execute such further instruments and documents, if any, as the Administrative Agent may reasonably request in connection therewith.

Equalization of Loans and Commitments. Upon the satisfaction of the conditions precedent set forth in Section 6.1 hereof, all loans outstanding under the Existing Loan Agreement shall remain outstanding as the initial borrowing of Loans under this Agreement and, in connection therewith, the Borrower shall be deemed to have prepaid all outstanding LIBO Loans on the Restatement Date. On the Restatement Date, the Lenders each agree to make such purchases and sales of interests in the outstanding Loans between themselves so that each Lender is then holding its relevant Percentage of outstanding Loans. Such purchases and sales shall be arranged through the Administrative Agent and each Lender hereby agrees to execute such further instruments and documents, if any, as the Administrative Agent may reasonably request in connection therewith.