Common use of Adjustment of Revolving Loans Clause in Contracts

Adjustment of Revolving Loans. Other than with respect to any Incremental Foreign Revolving Facility, to the extent the Commitments being increased on the relevant Increase Effective Date are Incremental Revolving Commitments, then each Revolving Lender that is acquiring an Incremental Revolving Commitment on the Increase Effective Date shall make a Revolving Loan in the relevant currency, the proceeds of which will be used to prepay the Revolving Loans of the other Revolving Lenders in such currency immediately prior to such Increase Effective Date, so that, after giving effect thereto, the Revolving Loans outstanding in such currency are held by the Revolving Lenders pro rata based on their Revolving Commitments after giving effect to such Increase Effective Date. If there is a new borrowing of Revolving Loans on such Increase Effective Date, the Revolving Lenders after giving effect to such Increase Effective Date shall make such Revolving Loans in accordance with Section 2.01(a).

Appears in 3 contracts

Samples: Pledge Agreement (Ciena Corp), Abl Credit Agreement (Ciena Corp), Abl Credit Agreement

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Adjustment of Revolving Loans. Other than with respect to On any Incremental Foreign Revolving Facility, to the extent the Commitments being increased on the relevant Increase Effective Date are on which an Incremental Revolving CommitmentsIncrease is effective, then each Revolving Lender that is acquiring an participating in the Incremental Revolving Commitment Increase on the such Increase Effective Date shall make a Revolving Loan in the relevant currencyLoan, the proceeds of which will be used to prepay the Revolving Loans of the other Revolving Lenders in such currency immediately prior to such Increase Effective Date, so that, after giving effect thereto, the Revolving Loans outstanding in such currency are held by the Revolving Lenders pro rata based on their Revolving Commitments after giving effect to such Increase Effective Date, and the Borrowers shall pay any additional amounts required pursuant to Section 3.05 in connection with any such adjustment of Revolving Loans. If there is a new borrowing of Revolving Loans on such Increase Effective Date, the Revolving Lenders after giving effect to the Incremental Revolving Increase on such Increase Effective Date shall make such Revolving Loans in accordance with Section 2.01(a).

Appears in 1 contract

Samples: Credit Agreement (Sabra Health Care REIT, Inc.)

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Adjustment of Revolving Loans. Other than with respect to any Each Incremental Foreign Revolving Facility, to the extent the Commitments being increased on the relevant Increase Effective Date are Incremental Revolving Commitments, then each Revolving Lender that is acquiring an Incremental a new or additional Revolving Commitment on the Increase Effective Date shall make a Revolving Loan in under the relevant currencyapplicable Revolving Facility, the proceeds of which will be used to prepay the Revolving Loans under such Revolving Facility (if any) of the other Revolving Lenders in such currency immediately prior to such Increase Effective Date, Date so that, after giving effect thereto, the Revolving Loans outstanding in under such currency Revolving Facility are held by the Revolving Lenders pro rata based on their Revolving Commitments under such Revolving Facility after giving effect to such Increase Effective DateRevolving Commitment Increase. If there is a new borrowing Borrowing of Revolving Loans under such Revolving Facility on such Increase Effective Date, the Lenders under such Revolving Lenders Facility after giving #90303017v26 50 effect to such Revolving Commitment Increase Effective Date shall make such Revolving Loans in accordance with Section ‎Section 2.01(a).

Appears in 1 contract

Samples: Credit Agreement (Delta Air Lines Inc /De/)

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