Common use of Pro Rata Borrowings Clause in Contracts

Pro Rata Borrowings. Each Borrowing of Initial Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Initial Term Loan Commitments. Each Borrowing of New Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable New Term Loan Commitments. It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Documents shall not release any Person from performance of its obligation, under any Credit Document.

Appears in 6 contracts

Samples: Credit Agreement (Academy Sports & Outdoors, Inc.), Second Lien Credit Agreement (Bountiful Co), First Lien Credit Agreement (Bountiful Co)

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Pro Rata Borrowings. Each Borrowing of Initial Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Initial Term Loan Commitments. Each Borrowing of New Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable New Term Loan Commitments. It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Documents shall not release any Person from performance of its obligation, under any Credit Document.

Appears in 5 contracts

Samples: Second Lien Credit Agreement (BrightSpring Health Services, Inc.), Credit Agreement (BrightView Holdings, Inc.), Lien Credit Agreement (BrightSpring Health Services, Inc.)

Pro Rata Borrowings. Each Borrowing of Initial Revolving Loans under this Agreement shall be made by the Revolving Lenders pro rata on the basis of their then applicable Revolving Commitment Percentages. The Borrowing of Term Loans under this Agreement shall be made by the Term Loan Lenders pro rata on the basis of their then-then applicable Initial Term Loan Commitments. Each Borrowing of New Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable New Term Loan CommitmentsCommitment Percentages. It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Documents shall not release any Person from performance of its obligation, obligation under any Credit Document.

Appears in 5 contracts

Samples: Credit Agreement (California Resources Corp), Credit Agreement (California Resources Corp), Credit Agreement (California Resources Corp)

Pro Rata Borrowings. Each Borrowing of Initial Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Initial Term Loan Commitments. Each Borrowing of New Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable New Term Loan Commitments. It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Documents shall not release any Person from performance of its obligation, obligation under any Credit Document.

Appears in 3 contracts

Samples: Lien Credit Agreement (HireRight GIS Group Holdings, LLC), Intercreditor Agreement (Focus Financial Partners Inc.), Intercreditor Agreement (Focus Financial Partners Inc.)

Pro Rata Borrowings. Each Borrowing The borrowing of Initial Term Loans under this Agreement and each Borrowing outstanding from time to time hereunder shall be made or maintained, as applicable, by the Lenders pro rata on the basis of their then-applicable Initial Term Loan Commitments. Each Borrowing Commitments (in the case of New Term Loans under this Agreement shall be made by the Lenders pro rata on the basis Funding Date) or the aggregate outstanding amount of their then-applicable New Term Loan CommitmentsLoans (in the case of separate Borrowings consisting of different Types or having different Interest Periods). It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Documents shall not release any Person from performance of its obligation, obligation under any Credit Document.

Appears in 2 contracts

Samples: Credit Agreement (NXP Semiconductors N.V.), Credit Agreement (NXP Semiconductors N.V.)

Pro Rata Borrowings. Each Borrowing of Initial Term Loans under this Agreement shall be made by the Lenders pro rata on rataon the basis of their then-applicable Initial Term Loan Commitments. Each Borrowing of New Term Loans under this Agreement shall be made by the Lenders pro rata on rataon the basis of their then-applicable New Term Loan Commitments. It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Documents shall not release any Person from performance of its obligation, under any Credit Document.

Appears in 2 contracts

Samples: Credit Agreement (National Vision Holdings, Inc.), Second Lien Credit Agreement (National Vision Holdings, Inc.)

Pro Rata Borrowings. Each Borrowing of Initial Term Senior Interim Cash Pay Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Initial Term Senior Interim Cash Pay Loan Commitments. Each Borrowing of New Term Senior Interim Toggle Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable New Term Senior Interim Toggle Loan Commitments. It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Loan Documents shall not release any Person from performance of its obligation, obligation under any Credit Loan Document.

Appears in 2 contracts

Samples: Interim Loan Agreement (Energy Future Holdings Corp /TX/), Interim Loan Agreement (Energy Future Holdings Corp /TX/)

Pro Rata Borrowings. Each Borrowing of Initial Term Senior Interim Cash Pay Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Initial Term Loan Senior Interim Cash Pay Commitments. Each Borrowing of New Term Senior Interim PIK Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable New Term Loan Senior Interim PIK Commitments. It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Loan Documents shall not release any Person from performance of its obligation, obligation under any Credit Loan Document.

Appears in 1 contract

Samples: Loan Agreement (First Data Corp)

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Pro Rata Borrowings. Each Borrowing of Initial Euro Tranche Term Loans, Additional Term B Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Initial Term Loan Commitments. Each Borrowing of or New Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Euro Tranche Term Loan Commitments, Additional Term B Loan Commitments or New Term Loan CommitmentsCommitments (of the applicable Series). It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder hereunder) and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Documents shall not release any Person from performance of its obligation, obligation under any Credit Document.

Appears in 1 contract

Samples: Restatement Agreement (Univar Inc.)

Pro Rata Borrowings. Each Borrowing of Initial Term Revolving Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Initial Term Loan Commitments. Each Borrowing of New Term Incremental Revolving Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable New Term Loan Incremental Revolving Commitments. It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Documents shall not release any Person from performance of its obligation, under any Credit Document.

Appears in 1 contract

Samples: Abl Credit Agreement (Claire's Holdings LLC)

Pro Rata Borrowings. Each Borrowing of Initial Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable Initial Term Loan Commitments. Each Borrowing of New Term Loans under this Agreement shall be made by the Lenders pro rata on the basis of their then-applicable New Term Loan Commitments. It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Documents shall not release any Person from performance of its obligation, under any Credit Document.. 2.8

Appears in 1 contract

Samples: Credit Agreement (Academy Sports & Outdoors, Inc.)

Pro Rata Borrowings. Each Borrowing of Initial Tranche B Term Loans under this Agreement shall be made granted by the Lenders pro rata on the basis of their then-applicable Initial Tranche B Term Loan Commitments. Each Borrowing of New Term Loans under this Agreement shall be made granted by the Lenders pro rata on the basis of their then-applicable New Term Loan Commitments. It is understood that (a) no Lender shall be responsible for any default by any other Lender in its obligation to make Loans hereunder and that each Lender severally but not jointly shall be obligated to make the Loans provided to be made by it hereunder, regardless of the failure of any other Lender to fulfill its commitments hereunder and (b) other than as expressly provided herein with respect to a Defaulting Lender, failure by a Lender to perform any of its obligations under any of the Credit Documents shall not release any Person from performance of its obligation, obligation under any Credit Document.

Appears in 1 contract

Samples: Joinder Agreement (IPC Systems Holdings Corp.)

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