Net Decrease in Outstandings. If on any Settlement Date the increase, if any, in the dollar amount of any Lender's Net Outstandings which is required to comply with the first sentence of SECTION 4.8(A) is less than such Lender's Commitment Percentage of amounts received by the Agent but paid only to Bank of America since the next preceding Settlement Date, such Lender and the Agent, in their respective records, shall apply such Lender's Commitment Percentage of such amounts to the increase in such Lender's Net Outstandings, and Bank of America shall pay to the Agent, for the account of such Lender, the excess allocable to such Lender.
Appears in 2 contracts
Sources: Loan and Security Agreement (Tultex Corp), Loan and Security Agreement (Tultex Corp)
Net Decrease in Outstandings. If on any Settlement Date the increase, if any, in the dollar amount of any Lender's Net Outstandings which is required to comply with the first sentence of SECTION 4.8(ASection 4.8(a) is less than such Lender's Commitment Percentage of amounts received by the Agent but paid only to Bank of America since the next preceding Settlement Date, such Lender and the Agent, in their respective records, shall apply such Lender's Commitment Percentage of such amounts to the increase in such Lender's Net Outstandings, and Bank of America shall pay to the Agent, for the account of such Lender, the excess allocable to such Lender.
Appears in 1 contract
Sources: Loan and Security Agreement (Safety Components International Inc)