Changes in Commitments. With effect from and including the date this Amendment and Restatement becomes effective in accordance with Section 9, (i) the Person listed on the signature pages hereof which is not a party to the Agreement (the "New Buyer") shall become a Buyer party to the Agreement and (ii) the Commitment of each Buyer shall be the amount set forth opposite the name of such Buyer on the signature pages hereof. Any Buyer whose Commitment is changed to zero shall upon such effectiveness cease to be a Buyer party to the Agreement, and all accrued fees and other amounts (other than such Buyer's interest in the Aggregate Net Investment) payable under the Agreement for the account of such Buyer shall be due and payable on such date; provided that the provisions of Sections 8.02 and 8.03 of the Agreement shall continue to inure to the benefit of each such Buyer. If any Tranches are outstanding on such date and, as a result of changes in the Commitments of the Banks, the interests in such Tranches are not held by the continuing Banks ratably in proportion to their Commitments, the Banks shall, as appropriate, buy and sell the interests in such Tranches such that, after giving effect to such purchases, the interests in such Tranches are held ratably, and Section 2.13 of the Agreement shall apply to any such purchases.
Appears in 1 contract
Sources: Receivables Purchase Agreement (Johns Manville Corp /New/)
Changes in Commitments. With effect from and ---------------------- including the date this Amendment and Restatement becomes effective in accordance with Section 910, (i) the each Person listed on the signature pages hereof which is not a party to the Agreement (the "New BuyerBank") shall become a Buyer Bank party to the Agreement and (ii) the Commitment of each Buyer Bank shall be the amount set forth opposite the name of such Buyer Bank on the signature pages hereof. Any Buyer Bank whose Commitment is changed to zero shall upon such effectiveness cease to be a Buyer Bank party to the Agreement, and all accrued fees and other amounts (other than such Buyer's interest in the Aggregate Net Investmentprincipal and interest) payable under the Agreement for the account of such Buyer Bank shall be due and payable on such date; provided that the provisions of Sections 8.02 8.3, 8.4 and 8.03 9.3 of the Agreement shall continue to inure to the benefit of each such BuyerBank , provided further that such Bank shall continue to be bound by Section 9.8 of the Agreement with respect to information provided to it prior to such date. If any Tranches Loans are outstanding on such date and, as a result of changes in the Commitments of the Banks, the interests in such Tranches Loans are not held by the continuing Banks ratably in proportion to their Commitments, the Banks shall, as appropriate, buy and sell the interests in such Tranches Loans such that, after giving effect to such purchases, the interests in such Tranches Loans are held ratably, and Section 2.13 2.14 of the Agreement shall apply to any such purchases.
Appears in 1 contract
Sources: Inventory Credit Agreement (Bethlehem Steel Corp /De/)
Changes in Commitments. With effect from and ---------------------- including the date 1999 Effective Date (as defined in Section 8 of this Amendment and Restatement becomes effective in accordance with Section 9Restatement), (i) the each Person listed on the signature pages hereof which that is not a party to the Agreement (the a "New BuyerLender") shall become a Buyer Lender party to the Agreement and (ii) the Commitment of each Buyer Lender shall be the amount set forth opposite the name of such Buyer Lender on the signature pages hereof. Any Buyer whose Commitment is changed The calculation of accrued Fees payable to zero each Lender on the first Quarterly Date or other date after the 1999 Effective Date on which Fees are payable shall upon such effectiveness cease reflect any additions to be a Buyer party and changes in the Commitments of the Lenders made pursuant to this Section 5 and, notwithstanding the provisions of Section 2.13 of the Agreement, and all accrued fees and other amounts (other than such Buyer's interest in the Aggregate Net Investment) payable under the Agreement for the account of such Buyer shall be due and payable on such date; provided that the provisions of Sections 8.02 and 8.03 of the Agreement shall continue paid to inure to the benefit of each such BuyerLender accordingly. If any Tranches Loans are outstanding on such date the 1999 Effective Date and, as a result of additions to and changes in the Commitments of the BanksLenders, the interests in such Tranches Loans are not held by the continuing Banks Lenders ratably in proportion to their Commitments, the Banks Lenders (including New Lenders) shall, as appropriate, buy and sell the interests in such Tranches Loans such that, after giving effect to such purchases, the interests in such Tranches Loans are held ratably, and Section 2.13 2.14 of the Agreement shall apply to any such purchases.
Appears in 1 contract
Sources: Inventory Credit Agreement (Bethlehem Steel Corp /De/)