Common use of No Default or Event of Default exists Clause in Contracts

No Default or Event of Default exists. The Borrowers shall prepay any Loans outstanding on the date of any such increase (and pay any additional amounts required pursuant to Section 3.14) to the extent necessary to keep the outstanding Loans ratable with any revised Commitments arising from any nonratable increase in the Commitments under this Section 2.1(e). In connection with any such increase in the Revolving Committed Amount, Schedule 1.1

No Default or Event of Default exists. The Borrowers Borrower shall prepay any Loans owing by it and outstanding on the date of any such increase (and pay any additional amounts required pursuant to Section 3.143.06) to the extent necessary to keep the outstanding Loans ratable with any revised Commitments arising from any nonratable increase in the Commitments under this Section 2.1(e)Section. In connection with any such increase in the Aggregate Revolving Committed Amount30 Commitments, Schedule 1.12.01 shall be revised by the Administrative Agent to reflect the new Commitments and distributed to the Lenders.