Assignment and Allocations Sample Clauses

Assignment and Allocations. In order to facilitate the Amendment and Restatement and otherwise to effectuate the desires of the Borrower, the Agent and the Lenders: (a) The parties hereto agree that (i) each of the Revolving Credit Commitments (as defined in the Existing Credit Agreement) shall, subject to the terms hereof, constitute a Revolving Credit Commitment hereunder. As of the close of business on the date immediately preceding the Closing Date, the Revolving Credit Commitments, the Applicable Commitment Percentage (as defined in the Existing Credit Agreement) of the Lenders and the Revolving Credit Outstandings (as defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement were as follows: Lender Revolving Credit Commitment Lender’s Applicable Commitment Percentage Revolving Loans Bank of America, N.A. $35,000,000 35.0% $4,200,000 SunTrust Bank $25,000,000 25.0% $3,000,000 Fleet National Bank $25,000,000 25.0% $3,000,000 Branch Banking and Trust Company $15,000,000 15.0% $1,800,000 TOTAL $100,000,000 100% $12,000,000 (ii) each of the Existing Letters of Credit shall constitute a Letter of Credit hereunder, and (iii) each outstanding Swing Line Loan (as defined in the Existing Credit Agreement) shall constitute an outstanding Swing Line Loan hereunder. (b) Simultaneously with the Closing Date, the parties hereby agree that the Revolving Credit Commitments shall be as set forth in Exhibit A and the Revolving Credit Outstandings and participations in Existing Letters of Credit under the Existing Credit Facility shall be reallocated in accordance with such Revolving Credit Commitments and the requisite assignments shall be deemed to be made in such amounts by and between the Lenders and from each Lender to each other Lender, with the same force and effect as if such assignments were evidenced by applicable Assignments and Acceptances (as defined in the Existing Credit Agreement) under the Existing Credit Agreement. Notwithstanding anything to the contrary in Section 12.6 of the Existing Credit Agreement or Section 13.6 of this Agreement, no other documents or instruments, including any Assignment and Assumption, shall be executed, and no fees otherwise provided for in such section as payable to the Agent in connection with assignments will be payable, in connection with these assignments (all of which requirements are hereby waived), and such assignments shall be deemed to be made with all applicable representations, warranties and covenants as if ...