Common use of Net Decrease in Outstandings Clause in Contracts

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 2.7.2 (Revolving Loan) is less than such Lender's Revolving Credit Pro Rata Share of amounts received by the Administrative Agent but paid only to NationsBank since the next preceding Settlement Date, such Lender and the Administrative Agent, in their respective records, shall apply such Lender's Revolving Credit Pro Rata Share of such amounts to the increase in such Lender's Net Outstandings, and NationsBank shall pay to the Administrative Agent, for the account of such Lender, the excess allocable to such Lender.

Appears in 2 contracts

Sources: Financing and Security Agreement (Walbro Corp), Financing and Security Agreement (Walbro Corp)