Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender, the "Applicable Percentage" of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 6 contracts
Sources: Escrow Agreement (Vectren Corp), Escrow Agreement (Vectren Utility Holdings Inc), Credit Agreement (Vectren Utility Holdings Inc)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Credit Loans of that Lender.
Appears in 6 contracts
Sources: Credit Agreement (Tesoro Logistics Lp), Credit Agreement (Tesoro Corp /New/), Credit Agreement (Tesoro Corp /New/)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Revolving Credit Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Credit Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Revolving Credit Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Revolving Credit Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Credit Commitment of that non-Defaulting Revolving Credit Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans Credit Exposure of that such non-Defaulting Lender.
Appears in 5 contracts
Sources: Credit Agreement (Stericycle Inc), Amended and Restated Credit Agreement (Stericycle Inc), Credit Agreement (Stericycle Inc)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 5 contracts
Sources: Credit Agreement (Tapstone Energy Inc.), Credit Agreement (Tapstone Energy Inc.), Credit Agreement (Kofax LTD)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.5, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Credit Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Credit Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding amount of the Revolving Credit Loans of that Lender.
Appears in 4 contracts
Sources: Credit Agreement (Northwestern Corp), Credit Agreement (Northwestern Corp), Credit Agreement (Northwestern Corp)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Fronted Letters of Credit or Swing Line Swingline Loans pursuant to Sections 2.03 Section 2.2(b) and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 3.2(c), the "Applicable “Revolving Credit Commitment Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Credit Commitment of that such Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; or Event of Default exists and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Fronted Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1A) the Revolving Credit Commitment of that non-Defaulting Lender minus (2B) the aggregate Outstanding Amount outstanding principal amount of the Revolving Loans of that Lender.
Appears in 4 contracts
Sources: Credit Agreement (Family Dollar Stores Inc), Credit Agreement (Family Dollar Stores Inc), Credit Agreement (Family Dollar Stores Inc)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default existsor Event of Default exists and is continuing; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 4 contracts
Sources: Credit Agreement (American Midstream Partners, LP), Credit Agreement (American Midstream Partners, LP), Credit Agreement (American Midstream Partners, LP)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSwingline Loans, the "Applicable “Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1A) the Revolving Commitment of that non-Defaulting Lender minus (2B) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 4 contracts
Sources: Credit Agreement (Nv Energy, Inc.), Credit Agreement (Nv Energy, Inc.), Credit Agreement (Nv Energy, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, all or any part of such Defaulting Lender’s participation in the Letter of Credit and Swingline Loans shall be reallocated among the non-Defaulting Lenders in accordance with their respective Applicable Percentages; provided that for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Swingline Loans and Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lenderthis Section, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) provided that the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount principal amount of the Revolving Loans of that Lender.
Appears in 4 contracts
Sources: Credit Agreement (European Wax Center, Inc.), Credit Agreement (European Wax Center, Inc.), Incremental Assumption and Amendment (European Wax Center, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Swingline Loans and Letters of Credit or Swing Line Loans pursuant to Sections 2.03 Section 2.04 and 2.04 or 2.05 and the payments of participation fees pursuant to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.12(b), the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) provided that the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1) the aggregate Revolving Commitment Commitments of that non-Defaulting Lender immediately prior to such acquisition, refinancing or funding, minus (2) the aggregate Outstanding Amount principal amount of the Revolving Loans of that Lendernon-Defaulting Lender outstanding at such time.
Appears in 3 contracts
Sources: Second Amendment (Graftech International LTD), Credit Agreement (Graftech International LTD), Credit Agreement (Graftech International LTD)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 3 contracts
Sources: Credit Agreement (DLC Realty Trust, Inc.), Credit Agreement (DLC Realty Trust, Inc.), Credit Agreement (DLC Realty Trust, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Swingline Loans and Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.04 and 2.04 or 2.05 and the payments of participation fees pursuant to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.12(b), the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii1) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1A) the Revolving Commitment of that non-Defaulting Lender minus (2B) the aggregate Outstanding Amount principal amount of the Revolving Loans of that Lender, (2) any such acquisition, refinancing or funding of participations shall only occur to the extent that the conditions set forth in Section 4.02 are satisfied after giving effect thereto and (3) in the case of Letters of Credit, no such acquisition, refinancing or funding of participations shall be required to the extent such Letter of Credit has been cash collateralized.
Appears in 3 contracts
Sources: Credit Agreement (Camping World Holdings, Inc.), Credit Agreement (Camping World Holdings, Inc.), Credit Agreement (Camping World Holdings, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting LenderBank, for purposes of computing the amount of the obligation of each non-Defaulting Lender Bank to acquire, refinance or fund participations in Letters of Credit or Swing Line Applicable Tranche Swingline Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.14, the "pro rata portion and “Applicable Percentage" ” of each non-Defaulting Lender Bank shall be computed from time to time without giving effect to the Revolving Applicable Tranche Commitment of that Defaulting LenderBank with respect to each Applicable Tranche; provided, provided that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lendertime of any such reallocation, no Default or Unmatured Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender Bank to acquire, refinance or fund participations in Letters of Credit and Swing Line the Applicable Tranche Swingline Loans shall not exceed the positive difference, if any, of (1) the Revolving Applicable Tranche Commitment of that non-Defaulting Lender Bank minus (2) the aggregate Outstanding Amount outstanding amount of the Applicable Tranche Revolving Loans of that Lender.Bank
Appears in 3 contracts
Sources: Credit Agreement (Cme Group Inc.), Credit Agreement (Cme Group Inc.), Credit Agreement (Cme Group Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (ix) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (iiy) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 3 contracts
Sources: Credit Agreement (Voya PRIME RATE TRUST), Credit Agreement (Voya PRIME RATE TRUST), Credit Agreement (Voya PRIME RATE TRUST)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each nonNon-Defaulting Lender to acquire, refinance or fund participations in Swing Line Loans or Letters of Credit or Swing Line Loans pursuant to Sections 2.03 Section 2.1(c) and 2.04 or to calculate Section 2.10(e) the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender, the "Applicable Percentage" “Multicurrency Revolver Pro Rata Share” of each nonNon-Defaulting Lender shall be computed without giving effect to the Multicurrency Revolving Commitment of that such Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Unmatured Event of Default exists; or Event of Default exists and (ii) the aggregate obligation of each nonNon-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1A) the Multicurrency Revolving Commitment of that nonNon-Defaulting Lender minus (2B) the aggregate Outstanding Amount outstanding principal amount of the Multicurrency Revolving Loans of that Lender.
Appears in 3 contracts
Sources: Credit Agreement (Ball Corp), Credit Agreement (Ball Corp), Credit Agreement (Ball Corp)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Credit Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender (or any subsequent date on which the applicable Lender is a Defaulting Lender), no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Credit Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Credit Loans of that Lender.
Appears in 3 contracts
Sources: Credit Agreement (Western Digital Corp), Credit Agreement (Western Digital Corp), Credit Agreement (Western Digital Corp)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Swingline Loans pursuant to Sections 2.03 2.04 (Letters of Credit) and 2.04 or 2.05 (Funding of Borrowings) and the payments of participation fees pursuant to calculate the actual or potential Fronting Exposure Section 2.04(h) (Letters of an L/C Issuer or the Swing Line LenderCredit), the "Applicable Percentage" Percentage of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) provided that the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount principal amount of the Revolving Loans of that non-Defaulting Lender.. Subject to Section 9.22 (
Appears in 3 contracts
Sources: Credit Agreement (TransMontaigne Partners LLC), Credit Agreement (TransMontaigne Partners LLC), Credit Agreement (TransMontaigne Partners LLC)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "Applicable Percentage" Pro Rata Share of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding principal amount of the Revolving Loans of that Lender.
Appears in 3 contracts
Sources: Credit Agreement (Atlantic Power Corp), Credit Agreement (Atlantic Power Corp), Credit Agreement (Atlantic Power Corp)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.07 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.19, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Credit Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding amount of the Revolving Loans Extensions of Credit of that Lender. For the avoidance of doubt, under no circumstances shall the Revolving Extension of Credit of any Lender be in excess of such Lender’s Revolving Credit Commitment.
Appears in 3 contracts
Sources: Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Swingline Loans pursuant to Sections 2.03 Section 2.05(c) and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.06(d), the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans Exposure of that non-Defaulting Lender. Upon any such reallocation, all fees payable pursuant to Section 2.12(b) with respect to Lenders’ participations in Letters of Credit shall be payable in accordance with such Lenders’ reallocated Applicable Percentages with respect thereto.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Enterprise Products Partners L P), Revolving Credit Agreement (Enterprise Products Partners L P)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderLoans, the "Applicable Percentage" Pro Rata Share of each non-Defaulting Lender shall be computed without giving effect to the Revolving Loan Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Loan Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans Loan Exposure of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Unified Grocers, Inc.), Credit Agreement (Unified Grocers, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.07, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed from time to time without giving effect to the Revolving MC Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lendertime of any such reallocation, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving MC Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding amount of the Revolving MC Committed Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Cme Group Inc.), Credit Agreement (Cme Group Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Swingline Loans pursuant to Sections 2.03 Section 2.04 and 2.04 or Letters of Credit pursuant to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.06, the "Applicable “Commitment Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; or Event of Default exists and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1A) the Revolving Commitment of that non-Defaulting Lender minus (2B) the aggregate Outstanding Amount outstanding principal amount of the Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Consolidated Communications Holdings, Inc.), Amendment Agreement (Consolidated Communications Holdings, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.04 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.05, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (iA) each such reallocation shall be given effect only if, at if (x) on the date the applicable Lender becomes a Defaulting Lender, no Default exists; or Event of Default has occurred and is continuing, or (y) if a Default or Event of Default occurred and was continuing on such date, on a subsequent Business Day no Default or Event of Default has occurred and is continuing, and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Paa Natural Gas Storage Lp), Credit Agreement (Paa Natural Gas Storage Lp)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund obligations under or purchase participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderArticle III, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund obligations under or purchase participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Renaissancere Holdings LTD), Credit Agreement (Renaissancere Holdings LTD)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.07 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.19, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Credit Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Credit Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding amount of the Revolving Loans Extensions of Credit of that Lender. For the avoidance of doubt, under no circumstances shall the Revolving Extension of Credit of any Lender be in excess of such Lender’s Revolving Credit Commitment.
Appears in 2 contracts
Sources: Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "Applicable Percentage" Pro Rata Share of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, the Defaulting Lender has not provided sufficient Cash Collateral (as determined by the Administrative Agent) and no Default or Unmatured Default exists; and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount Credit Exposure of the Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Revolving Credit Agreement (Walgreens Boots Alliance, Inc.), Revolving Credit Agreement (Walgreen Co)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Temple Inland Inc), Credit Agreement (Temple Inland Inc)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting LenderLender under this Agreement, for purposes of computing the amount of the obligation of each non-Defaulting Lender hereunder to acquire, refinance acquire or fund participations in Letters of Credit or Swing Line pursuant to Section 2.05(e) (including, without limitation, for purposes of determining the amount of participation fees payable to such non-Defaulting Lender pursuant to Section 2.12(b)) and Swingline Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.04(c), the "“Applicable Percentage" ” of each non-Defaulting Lender hereunder shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided, that, that (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; , and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance acquire or fund participations in Letters of Credit and Swing Line Swingline Loans at any time shall not exceed the unused positive difference, if any, of (1) the Revolving Commitment of that such non-Defaulting Lender minus (2B) the aggregate Outstanding Amount Aggregate Exposure of the Revolving Loans of that Lendersuch non-Defaulting Lender at such time.
Appears in 2 contracts
Sources: Credit Agreement (Tucson Electric Power Co), Credit Agreement (Tucson Electric Power Co)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each nonNon-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Swingline Loans pursuant to Sections 2.03 Section 2.8 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 3.4, the "Applicable “Revolving Percentage" ” of each nonNon-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Revolving Default, Term Loan B Default, Revolving Event of Default exists; or Term Loan B Event of Default exists and (ii) the aggregate obligation of each nonNon-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1A) the Revolving Commitment of that nonNon-Defaulting Lender minus (2B) the aggregate Outstanding Amount outstanding principal amount of the Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Tw Telecom Inc.), Amendment and Restatement Agreement (Tw Telecom Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "Applicable Percentage" Pro Rata Share of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, the Defaulting Lender has not provided sufficient Cash Collateral (as determined by the Administrative Agent) and no Default or Unmatured Default exists; and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans Credit Exposure of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Walgreen Co), Credit Agreement (Walgreen Co)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for For purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender. No reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a non-Defaulting Lender as a result of such non-Defaulting Lender’s increased exposure following such reallocation.
Appears in 2 contracts
Sources: Credit Agreement (Pacer International Inc), Credit Agreement (Pacer International Inc)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default existsthe conditions set forth in Section 4.02 (a) and (b) are satisfied (and, unless the Company shall have otherwise notified the Administrative Agent at such time, the Company shall be deemed to have represented and warranted that such conditions are satisfied at such time); and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Flextronics International Ltd.), Credit Agreement (Flextronics International Ltd.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only ifto the extent that, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Premier, Inc.), Credit Agreement (Premier, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each nonNon-Defaulting Lender to acquire, refinance or fund participations in Swing Line Loans or Letters of Credit or Swing Line Loans pursuant to Sections 2.03 Section 2.1(c) and 2.04 or to calculate Section 2.10(e) the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender, the "Applicable Percentage" “Multicurrency Revolver Pro Rata Share” of each nonNon-Defaulting Lender shall be computed without giving effect to the Revolving Multicurrency Revolver Commitment of that such Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Unmatured Event of Default exists; or Event of Default exists and (ii) the aggregate obligation of each nonNon-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1A) the Multicurrency Revolving Commitment of that nonNon-Defaulting Lender minus (2B) the aggregate Outstanding Amount outstanding principal amount of the Multicurrency Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Ball Corp), Credit Agreement (Ball Corp)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.07 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.19, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Credit Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Credit Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding amount of the Revolving Loans Extensions of Credit of that Lender. For the avoidance of doubt, under no circumstances shall the Revolving Extension of Credit of any Lender be in excess of such L▇▇▇▇▇’s Revolving Credit Commitment.
Appears in 2 contracts
Sources: Credit Agreement (Leslie's, Inc.), Credit Agreement (Leslie's, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.03, the "Applicable Percentage" Percentage of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (iiB) the aggregate obligation of each non-non- Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Tennessee Valley Authority), Credit Agreement (Tennessee Valley Authority)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Fronted Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default existshas occurred and is continuing; and (ii) such reallocation shall be given effect only to the extent that the aggregate obligation of each non-Defaulting Lender to issue, acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Arch Capital Group Ltd.), Credit Agreement (Arch Capital Group Ltd.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, provided that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (DPL Inc), Credit Agreement (Dayton Power & Light Co)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender with a Revolving Commitment under the applicable Revolving Tranche shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (ix) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (iiy) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and and, if a Revolving A Lender, Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Global Payments Inc), Credit Agreement (Global Payments Inc)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Fronted Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) such reallocation shall be given effect only to the extent that the aggregate obligation of each non-Defaulting Lender to issue, acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Arch Capital Group Ltd.), Credit Agreement (Arch Capital Group Ltd.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (Phibro Animal Health Corp), Credit Agreement (Willis Group Holdings PLC)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans or Alternative Currency Risk Participations pursuant to Sections 2.02, 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans and Alternative Currency Risk Participations shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that such non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Committed Revolving Loans of that such Lender.
Appears in 2 contracts
Sources: Credit and Guaranty Agreement (Ventas Inc), Credit Agreement (Hcp, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 2 contracts
Sources: Credit Agreement (RR Donnelley & Sons Co), Credit Agreement (RR Donnelley & Sons Co)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Swingline Loans pursuant to Sections 2.03 2.5, 2.6 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.7, the "Applicable “Revolving Commitment Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Event of Default exists; and , (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1A) the Revolving Commitment of that non-Defaulting Lender minus (2B) the aggregate Outstanding Amount outstanding principal amount of the Revolving Loans of that Lender and (iii) for the avoidance of doubt, to the extent that the Defaulting Lender constitutes a Canadian Revolving Lender or U.S. Revolving Lender, such reallocation shall only be to the Canadian Revolving Lenders or U.S. Revolving Lenders, as applicable.
Appears in 2 contracts
Sources: Amendment No. 3 (Rock-Tenn CO), Credit Agreement (Rock-Tenn CO)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default existsor Event of Default exists and is continuing; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive 60 difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.05, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding principal amount of the Revolving Loans Credit Exposure of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender3.3, the "Applicable Percentage" “Pro Rata Share” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Event of Default or Unmatured Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that such non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding principal amount of the Revolving Loans of that such Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.04 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.05, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists, provided that, on any date thereafter during such period, to the extent that such Default or Event of Default has been cured or waived, such reallocation shall occur as of such later date; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement (Franklin Street Properties Corp /Ma/)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each nonNon-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate 2.04, the actual or potential Fronting Exposure “Applicable Percentage” of an each Non-Defaulting Lender’s Revolving Loans and L/C Issuer or the Swing Line Lender, the "Applicable Percentage" of each non-Defaulting Lender Obligations shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default existshas occurred and is continuing; and (ii) the aggregate obligation of each nonNon-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and or Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that nonNon-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Non-Defaulting Lender.
Appears in 1 contract
Sources: Credit Agreement (Chobani Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Swing Loans or Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.04 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.05, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Event of Default exists; , and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans as of any date shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender as of such date minus (2) the aggregate Outstanding Amount outstanding principal amount of the Revolving Loans of that Lender as of such date, plus (3) such Lender’s Applicable Percentage of the LC Outstandings as of such date, plus (4) such Lender’s Applicable Percentage of the aggregate outstanding principal amount of the Swing Loans of such date.
Appears in 1 contract
Sources: Credit Agreement (Epiq Systems Inc)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (ix) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, (I) no Default existsor Event of Default exists and (II) the condition set forth in Section 5.03(a) is satisfied at such time (and, unless the Borrower shall have otherwise notified the Administrative Agent at the time, the Borrower shall be deemed to have represented and warranted that such condition is satisfied at such time); and (iiy) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.04 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.05, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; provided that on any date thereafter during such period, to the extent such Default or Event of Default has been cured or waived, such reallocation shall occur on such later date; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (iA) each such reallocation shall be given effect only if, at if (x) on the date the applicable Lender becomes a Defaulting Lender, no Default exists; or Event of Default has occurred and is continuing, or (y) if a Default or Event of Default occurred and was continuing on such date, on a subsequent Business Day no Default or Event of Default has occurred and is continuing, and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (ix) each such reallocation shall be given effect only if, at on the date the applicable Lender becomes a Defaulting Lenderof such reallocation, no Default or Event of Default exists; and (iiy) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.05, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.03, the "Applicable Percentage" Percentage of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.. CHAR1\1952893v1
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans advanced to any Borrower pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation (A) shall be given effect only if, at as of the date on which the applicable Lender becomes a Defaulting Lender, no Default or Event of Default with respect to such Borrower then exists; , and (iiB) does not cause the aggregate obligation Revolving Credit Exposure of each any non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that such non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Lender’s Revolving Loans of that LenderCommitment.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.3 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.4, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; exists and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Credit Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lendersubsection 2.1A, the "Applicable Percentage" “Pro Rata Share” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Loan Commitment of that such Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; or Event of Default exists and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1A) the Revolving Loan Commitment of that non-Defaulting Lender minus (2B) the aggregate Outstanding Amount outstanding principal amount of the Revolving Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.03, the "Applicable Percentage" Percentage of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; Lender; provided, that, (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; exists; and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 1 contract
Sources: February Maturity Community Bank Credit Agreement (Tennessee Valley Authority)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.05, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount principal amount of the Revolving Loans of that Lender.
Appears in 1 contract
Sources: Amendment and Restatement Agreement (Medtronic Inc)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each nonNon-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 Section 2.03, the “Applicable Percentage” of each Non-Defaulting Lender’s Revolving Loans and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender, the "Applicable Percentage" of each non-Defaulting Lender Obligations shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, provided that (i) each such US-DOCS\122695800.10 reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default existshas occurred and is continuing; and (ii) the aggregate obligation of each nonNon-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that nonNon-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Non-Defaulting Lender.
Appears in 1 contract
Sources: Credit Agreement (Superior Industries International Inc)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender§ 5.1.4, the "Applicable “Commitment Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding amount of the Revolving Credit Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.03, the "Applicable Percentage" Percentage of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; Lender; provided, that, (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; exists; and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting nonDefaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each Revolving Credit Lender that is a non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each such non-Defaulting Lender shall be computed without giving effect to the Revolving Credit Commitment of that Defaulting Lender, if any; provided, that, that (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; , and (iiB) the aggregate obligation of each such non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Credit Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the all Revolving Credit Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement (On Assignment Inc)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, thathowever, that (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive differenceamount, if any, of by which (1) the Revolving maximum amount of the Commitment of that non-Defaulting Lender minus from time to time in effect, shall exceed (2) the sum of the aggregate Outstanding Amount of the Revolving Loans of that Lender, plus that Lender’s pro rata share of the Outstanding Amount of all L/C Obligations.
Appears in 1 contract
Sources: Credit Agreement (Meredith Corp)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.09, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, : (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Potential Default or Event of Default exists; and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of of: (1) the Revolving Commitment of that non-Defaulting Lender Lender; minus (2) the aggregate Outstanding Amount outstanding principal amount of the Revolving Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement (New England Realty Associates Limited Partnership)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.2, the "Applicable “Commitment Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding principal amount of the Revolving Loans and LOC Mandatory Borrowings of that Lender and any other Participation Interests funded by that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Swingline Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive differenceremainder, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding principal amount of the Revolving Committed Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Swingline Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.05(c), the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans Exposure of that non-Defaulting Lender.
Appears in 1 contract
Sources: 364 Day Revolving Credit Agreement (Enterprise Products Partners L P)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.05, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement (RealD Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.3, the "Applicable Percentage" Commitment Percentage of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding amount of the Revolving Loans of that non-Defaulting Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.07 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.19, the "Applicable Percentage" of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) the aggregate obligation of each non-non Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Credit Commitment of that non-non- Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding amount of the Revolving Loans Extensions of Credit of that Lender. For the avoidance of doubt, under no circumstances shall the Revolving Extension of Credit of any Lender be in excess of such Lender's Revolving Credit Commitment.
Appears in 1 contract
Sources: Credit Agreement (Leslie's, Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.2, the "Applicable PercentagePercentage Share" of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment Facility Amount of that Defaulting Lender; provided, that, (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Percentage Share of the Commitment Amount of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount outstanding amount of the Revolving Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement (Swift Energy Co)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.02 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment or Dollar Tranche Commitment, as applicable, of that such Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) provided that the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Dollar Tranche Commitment of that such non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Dollar Tranche Loans of such Lender. Subject to Section 10.24, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that ▇▇▇▇▇▇ having become a Defaulting Lender, including any claim of a non-Defaulting Lender as a result of such non-Defaulting Lender’s increased exposure following such reallocation.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting LenderLender under this Agreement, for purposes of computing the amount of the obligation of each non-Defaulting Lender hereunder to acquire, refinance acquire or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or Section 2.04(e) (including, without limitation, for purposes of determining the amount of participation fees payable to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lendersuch non-Defaulting Lender pursuant to Section 2.10(b)), the "“Applicable Percentage" ” of each non-Defaulting Lender hereunder shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided, that, that (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; , and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance acquire or fund participations in Letters of Credit and Swing Line Loans at any time shall not exceed the unused positive difference, if any, of (1) the Revolving Commitment of that such non-Defaulting Lender minus (2B) the aggregate Outstanding Amount Aggregate Exposure of the Revolving Loans of that Lendersuch non-Defaulting Lender at such time.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or Committed Loans pursuant to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.01, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, provided that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement (Intersil Corp/De)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "Applicable Percentage" “Pro Rata Share” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (ix) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (iiy) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement (GFI Group Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that such Lender.
Appears in 1 contract
Sources: Credit Agreement (Ashland Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Swing Line Loans and Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or and the payments of participation fees pursuant to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSections 2.03(i) and 2.03(j), the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Credit Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) provided that the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Credit Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount principal amount of the Revolving Credit Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement (WP Prism Inc.)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; provided, that on any date thereafter during such period, to the extent that such Default or Event of Default has been cured or waived in accordance with the terms of this Agreement, such reallocation shall occur on such later date; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement (Analogic Corp)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender which is a US Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 2.04 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.05, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving US Commitment of that Defaulting LenderLender in either the numerator or the denominator; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable US Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving US Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that US Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving A Commitment of that Defaulting Lender; provided, that, (ix) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, Section 5.02(a) has been satisfied and no Default or Event of Default exists; and (iiy) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving A Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving A Loans of that non-Defaulting Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Swingline Loans pursuant to Sections 2.03 2.04 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.05, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) provided that the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Swingline Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the sum of (A) the aggregate Outstanding Amount principal amount of the Revolving Loans of that Lender plus (B) such Lender.’s LC Exposure plus (C) such Lender’s Swingline Exposure
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.05, the "Applicable Percentage" Percentage of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, provided that (iA) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; or Event of Default exists and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender Lender, minus (2) the aggregate Outstanding Amount of the Revolving Loans Credit Exposure of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Fronted Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) reallocation only to the extent that the aggregate obligation of each non-Defaulting Lender to issue, acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.03, the "“Revolving Loan Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Loan Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Loan Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans and, without duplication, the L/C Obligations of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections Section 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default exists; and (ii) that the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1x) the Revolving Commitment of that non-Defaulting Lender minus (2y) the aggregate Outstanding Amount of the Revolving Loans of that Lender, and shall in no event exceed such non-Defaulting Lender’s Commitment.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lenderof such reallocation, no Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement (Newport Corp)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (ix) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, Section 5.02
(a) has been satisfied and no Default or Event of Default exists; and (iiy) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that non-Defaulting Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance acquire or fund participations in Letters Letter of Credit Participations or Swing Line Loans fund pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.2, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) reallocation only to the extent that the aggregate obligation of each non-Defaulting Lender to issue, acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans Individual Outstandings of that Lender.
Appears in 1 contract
Sources: Letter of Credit Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Tranche 2 Lender that is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.20, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Tranche 2 Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Tranche 2 Commitment of that non-Defaulting Lender minus (2) the aggregate Tranche 2 Outstanding Amount of the Revolving Loans of that non-Defaulting Lender.
Appears in 1 contract
Sources: Revolving Credit and Guaranty Agreement (Cit Group Inc)
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default existsor Event of Default exists and is continuing; and (ii) the aggregate obligation of each non-non- Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 1 contract
Sources: Credit Agreement
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans or Alternative Currency Risk Participations pursuant to Sections 2.02, 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that such Defaulting Lender; provided, that, provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans and Alternative Currency Risk Participations shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that such non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Committed Revolving Loans of that such Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "Applicable Percentage" of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (ix) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (iiy) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-non Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line LenderSection 2.03, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Default or Event of Default exists; and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Loans of that Lender.
Appears in 1 contract
Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit or Swing Line Loans pursuant to Sections Section 2.03 and 2.04 or to calculate the actual or potential Fronting Exposure of an L/C Issuer or the Swing Line Lender2.04, the "“Applicable Percentage" ” of each non-Defaulting Lender shall be computed without giving effect to the Revolving Commitment of that Defaulting Lender; provided, that, (iA) each such reallocation shall be given effect only if, at if (x) on the date the applicable Lender becomes a Defaulting Lender, no Default exists; or Event of Default has occurred and is continuing, or (y) if a Default or Event of Default occurred and was continuing on such date, on a subsequent Business Day no Default or Event of Default has occurred and is continuing, and (iiB) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swing Line Loans shall not exceed the positive difference, if any, of (1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate Outstanding Amount of the Revolving Committed Loans of that Lender.
Appears in 1 contract
Sources: Third Amended and Restated Credit Agreement (Plains All American Pipeline Lp)