Common use of Reallocation of Revolving Credit Exposure Clause in Contracts

Reallocation of Revolving Credit Exposure. After giving effect to this Amendment, including the amendments to the Credit Agreement set forth in Section 5 hereof, and any Borrowings or other Extensions of Credit made on the date hereof, (a) each Lender (including the New Lender) who holds Loans in an aggregate amount less than its Revolving Credit Commitment Percentage of all Loans (each such Lender, an “Increasing Lender”) shall advance new Loans which shall be disbursed to the Administrative Agent and used to repay Loans outstanding to each Lender who holds Loans in an aggregate amount greater than its Revolving Credit Commitment Percentage of all Loans, (b) each Lender’s (including the New Lender’s) participation in each Letter of Credit, if any, shall be automatically adjusted to equal its Revolving Credit Commitment Percentage, and (c) such other adjustments shall be made as the Administrative Agent shall specify so that the Revolving Credit Exposure applicable to each Lender (including the New Lender) equals its Revolving Credit Commitment Percentage of the aggregate Revolving Credit Exposure of all Lenders.

Appears in 1 contract

Sources: Credit Agreement (DCP Midstream, LP)

Reallocation of Revolving Credit Exposure. After giving effect to this Amendment, including the amendments to the Credit Agreement set forth in Section 5 4 hereof, and any Borrowings or other Extensions of Credit made on the date hereof, (a) each Lender (including the including, without limitation, each New Lender) who holds Loans in an aggregate amount less than its Revolving Credit Commitment Percentage of all Loans (each such Lender, an “Increasing Lender”) shall advance new Loans which shall be disbursed to the Administrative Agent and used to repay Loans outstanding to each Lender who holds Loans in an aggregate amount greater than its Revolving Credit Commitment Percentage of all Loans, (b) each Lender’s (including the including, without limitation, each New Lender’s) participation in each Letter of Credit, if any, shall be automatically adjusted to equal its Revolving Credit Commitment Percentage, and (c) such other adjustments shall be made as the Administrative Agent shall specify so that the Revolving Credit Exposure applicable to each Lender (including the including, without limitation, each New Lender) equals its Revolving Credit Commitment Percentage of the aggregate Revolving Credit Exposure of all Lenders.

Appears in 1 contract

Sources: Credit Agreement (DCP Midstream, LP)