Common use of Pro rata interest settlement Clause in Contracts

Pro rata interest settlement. (A) If the Senior Agent has notified the Senior Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Senior Lenders and New Senior Lenders then (in respect of any transfer pursuant to Clause 24.5 (Procedure for transfer) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period):

Pro rata interest settlement. (A) If the Senior Agent has notified the Senior Lenders that it is able to distribute interest payments on a "pro rata basis" to Existing Senior Lenders and New Senior Lenders then (in respect of any transfer pursuant to Clause 24.5 ‎24.5 (Procedure for transfer) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period):