Common use of Deemed Capital Contributions Clause in Contracts

Deemed Capital Contributions. The Borrowers in the applicable Fund Group shall not reinvest current cash flow from Investments and/or net proceeds from Investment dispositions in accordance with the applicable Partnership Agreement if (a) an Event of Default with respect to the applicable Borrowers’ Fund Group has occurred and is continuing, or (b) such reinvestment would reduce the Unfunded Capital Commitment of any Investor in the applicable Fund Group and cause the Principal Obligations of the applicable Fund Group to exceed the Available Commitment of such Fund Group, unless with respect to this clause (b), prior to such reinvestment, the Borrowers of such Fund Group shall make any resulting prepayment required under Section 3.5(b) of this Credit Agreement.

Appears in 5 contracts

Samples: Revolving Credit Agreement (AB Private Credit Investors Corp), Revolving Credit Agreement (AB Private Credit Investors Corp), Revolving Credit Agreement (AB Private Credit Investors Corp)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.