Common use of Reallocation of Loans on Closing Date Clause in Contracts

Reallocation of Loans on Closing Date. On the Effective Date the outstanding principal balance of the Loans under the 1998 Facility shall be reallocated among the Lenders such that after the Closing Date the outstanding principal amount of Loans owed to each Lender shall be equal to such Lender’s Pro Rata Share of the outstanding amount of all Loans. Not later than 11:00 a.m. (Boston time) on the Closing Date each of Wachovia Bank and Bayerische Landesbank will make available to the Agent in immediately available funds, the amount required to effect such reallocation and such amount will be distributed to the other Lenders in order to achieve such reallocation. On the Closing Date, interest and unused commitment fees accrued under the 1998 Credit Agreement through the Closing Date will be paid by Borrower and distributed by the Agent to the Lenders based on the Pro Rata Shares applicable under the 1998 Credit Agreement prior to the Closing Date.