Common use of New Banks Clause in Contracts

New Banks. On the Closing Date, each New Bank and Increasing Bank (as hereinafter defined) shall purchase by assignment from the Existing Banks such portion of the Loans (if any) owing to them as shall be designated by the Administrative Agent such that, after giving effect to all such purchases and assignments, the outstanding Loans owing to each Bank shall equal such Bank’s Pro Rata Share of the aggregate amount of Loans owing to all Banks. As used herein, the term “Increasing Bank” means each Existing Bank whose Commitment (as set forth opposite its name on its signature page hereto) exceeds its Commitment under the Existing Credit Agreement.

New Banks. On the Closing Date, each New Bank and Increasing Bank (as hereinafter defined) shall purchase by assignment from the Existing Banks such portion of the Loans (if any) owing to them as shall be designated by the Administrative Agent such that, after giving effect to all such purchases and assignments, the outstanding Loans owing to each Bank shall equal such Bank’s Pro Rata Share of the aggregate amount of Loans owing to all Banks. As used herein, the term “Increasing Bank” means each Existing Bank whose Commitment (as set forth opposite its name on its signature page pages hereto) exceeds its Commitment under the Existing Credit Agreement.

New Banks. On the Closing Date, each New Bank and Increasing Bank (as hereinafter defined) shall purchase by assignment from the Existing Banks such portion of the Loans (if any) owing to them as shall be designated by the Administrative Agent such that, after giving effect to all such purchases and assignments, the outstanding Loans owing to each Bank shall equal such Bank’s Pro Rata Share Percentage of the aggregate amount of Loans owing to all Banks. As used herein, the term “Increasing Bank” means each Existing Bank whose Commitment (as set forth opposite its name on its signature page hereto) exceeds its Commitment under the Existing Credit Agreement.