Common use of Pro Rata Treatment; Sharing; Payments after Default Clause in Contracts

Pro Rata Treatment; Sharing; Payments after Default. (a) Except to the extent otherwise provided in this Agreement and, with respect to fees payable to the Agent, the Resigning Agent, the Syndication Agent, the Documentation Agent and their affiliates, the Fee Agreements, and except as otherwise agreed by the Lenders: (i) the principal amount of LIBOR Loans made by each Lender shall be determined on a pro rata basis in accordance with the outstanding principal amount of the applicable Loans owed to such Lender (in the case of conversions to or continuations of Loans as LIBOR Loans); (ii) each payment and prepayment of principal of any Notes shall be allocated to the Lenders holding such Notes pro rata in accordance with the unpaid principal amounts of the respective Notes held by such Lenders; (iii) each payment of interest on the Notes shall be allocated to the Lenders pro rata in accordance with the unpaid principal amounts of their respective Loans evidenced by such Notes; (iv) each payment of any other sums and charges payable for the Lenders' account under this Agreement (except for the fees payable under the Fee Agreements, and the amounts payable pursuant to Section 1.21, which are payable solely in accordance therewith) shall be allocated to the Lenders pro rata in accordance with the respective unpaid principal amounts of the aggregate Loans made by each of them; (v) each payment under Section 1.11, 1.13 or 1.14 shall be made to each Lender in the amount required to be paid to such Lender to adequately indemnify or compensate such Lender for losses suffered or costs incurred by such Lender as provided in such Section; and (vi) notwithstanding the foregoing, after and during the continuance of a Default, each payment or distribution of cash, property, securities or other value received by the Agent or any Lender, directly or indirectly, in respect of the Borrower's Indebtedness hereunder, whether pursuant to this Article I or any attachment, garnishment, execution or other proceedings for the collection thereof or pursuant to any bankruptcy, reorganization, liquidation or other similar proceeding or otherwise, after payment of collection and other expenses as provided herein and in the Security Documents, shall be apportioned among the Lenders pro rata based upon the respective aggregate unpaid principal amount of all Loans owed to each of them.

Appears in 2 contracts

Samples: Credit Agreement (Pegasus Communications Corp /), Credit Agreement (Pegasus Communications Corp /)

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Pro Rata Treatment; Sharing; Payments after Default. (a) Except to the extent otherwise provided in this Agreement and, with respect to fees payable to the Agent, the Resigning Agent, the Syndication Agent, the Documentation Agent and their affiliates, the Fee Agreements, and except as otherwise agreed by the Lenders: (i) each borrowing of Loans from the principal amount of LIBOR Loans made by each Lender Lenders under the Commitments shall be determined on a made from the Lenders pro rata basis in accordance with according to the outstanding principal amount amounts of the applicable Loans owed to such Lender (in the case of conversions to or continuations of Loans as LIBOR Loans)their respective unutilized Commitments; (ii) each payment and prepayment of principal of any Notes shall be allocated to the Lenders holding such Notes pro rata in accordance with the unpaid principal amounts of the respective Notes held by such Lenders; (iii) each payment of interest on the Notes shall be allocated to the Lenders pro rata in accordance with the unpaid principal amounts of their respective Loans evidenced by such Notes; (iv) each payment of any other sums and charges payable for the Lenders' account under this Agreement (except for the fees payable under the Fee Agreements, and the amounts payable pursuant to Section 1.21, which are payable solely in accordance therewith) shall be allocated to the Lenders pro rata in accordance with the respective unpaid principal amounts of the aggregate Loans made by each of them; (v) each payment under Section 1.11, 1.13 1.08 or 1.14 1.09 shall be made to each Lender in the amount required to be paid to such Lender to adequately indemnify or compensate such Lender for losses suffered or costs incurred by such Lender as provided in such Section; and (vi) notwithstanding the foregoing, after and during the continuance of a Default, each payment or distribution of cash, property, securities or other value received by the Agent or any Lender, directly or indirectly, in respect of the Borrower's Indebtedness hereunder, whether pursuant to this Article I or any attachment, garnishment, execution or other proceedings for the collection thereof or pursuant to any bankruptcy, reorganization, liquidation or other similar proceeding or otherwise, after payment of collection and other expenses as provided herein and in the Security Documents, shall be apportioned among the Lenders pro rata based upon the respective aggregate unpaid principal amount of all Loans owed to each of themthem and their respective shares of the aggregate Commitments, which Commitments shall be permanently reduced to such pro rated amount.

Appears in 2 contracts

Samples: Term Loan Agreement (Pegasus Satellite Communications Inc), Term Loan Agreement (Pegasus Communications Corp /)

Pro Rata Treatment; Sharing; Payments after Default. (a) Except to the extent otherwise provided in this Agreement and, with respect to fees payable to the Agent, Arranger and the Resigning Agent, the Syndication Agent, the Documentation Agent and their affiliates, the Fee AgreementsAgreement, and except as otherwise agreed by the Lenders: (i) the principal amount of LIBOR Loans made by each Lender shall be determined on a pro rata basis in accordance with the outstanding principal amount of the applicable Loans owed to such Lender (in the case of conversions to or continuations of Loans as LIBOR Loans); (ii) each payment and prepayment of principal of any Notes shall be allocated to the Lenders holding such Notes pro rata in accordance with the unpaid principal amounts of the respective Notes held by such Lenders; (iii) each payment of interest on the Notes shall be allocated to the Lenders pro rata in accordance with the unpaid principal amounts of their respective Loans evidenced by such Notes; (ivii) each payment of any other sums and charges payable for the Lenders' account under this Agreement (except for the fees payable under the Fee Agreements, and the amounts payable pursuant to Section 1.21, which are payable solely in accordance therewith) shall be allocated to the Lenders pro rata in accordance with the respective unpaid principal amounts of the aggregate Loans made by each of them; (viii) each payment under Section 1.111.7, 1.13 1.9 or 1.14 1.10 shall be made to each Lender in the amount required to be paid to such Lender to adequately indemnify or compensate such Lender for losses suffered or costs incurred by such Lender as provided in such Section; and (viiv) notwithstanding the foregoing, after and during the continuance of a Default, each payment or distribution of cash, property, securities or other value received by the Agent or any Lender, directly or indirectly, in respect of the Borrower's Indebtedness hereunder, whether pursuant to this Article I 1 or any attachment, garnishment, execution or other proceedings for the collection thereof or pursuant to any bankruptcy, reorganization, liquidation or other similar proceeding or otherwise, after payment of collection and other expenses as provided herein and in the Security Documents, except (in each case) amounts payable under the Fee Agreement, shall be apportioned among the Lenders pro rata based upon the respective aggregate unpaid principal amount of all Loans owed to each of them.

Appears in 1 contract

Samples: Day Credit Agreement (Pegasus Communications Corp /)

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Pro Rata Treatment; Sharing; Payments after Default. (a) Except to the extent otherwise provided in this Agreement and, with respect to fees payable to the Agent, the Resigning Agent, the Syndication Agent, the Documentation Agent and their affiliates, the Fee Agreements, and except as otherwise agreed by the Lenders: (i) each borrowing from the Lenders under the Commitments shall be made from the Lenders and each payment of the Commitment Fee under Section 1.10 shall be made to the Lenders pro rata according to the amounts of their respective unutilized Commitments; (ii) the principal amount of LIBOR Loans made by each Lender shall be determined on a pro rata basis in accordance with its respective Commitment (when making Loans), or the outstanding principal amount of the applicable Loans owed to such Lender (in the case of conversions to or continuations of Loans as LIBOR Loans); (iiiii) each Lender's share of each Letter of Credit under Section 1.02 and of the Letter of Credit Fee shall be determined pro rata according to the amounts of the Lenders' respective Commitments; (iv) each payment and prepayment of principal of any Notes and repayments of Letter of Credit Disbursements shall be allocated to the Lenders holding such Notes pro rata in accordance with the unpaid principal amounts of the respective Notes held by such Lenders; (iiiv) each payment of interest on the Notes shall be allocated to the Lenders pro rata in accordance with the unpaid principal amounts of their respective Loans evidenced by such Notes; (ivvi) each payment of any other sums and charges payable for the Lenders' account under this Agreement (except for the Issuance Fee, which shall be retained by the Issuing Bank, and the fees payable under the Fee Agreements, and the amounts payable pursuant to Section 1.21, which are payable solely in accordance therewith) shall be allocated to the Lenders pro rata in accordance with the respective unpaid principal amounts of the aggregate Loans made by each of them; (vvii) each payment under Section 1.11, 1.13 or 1.14 shall be made to each Lender in the amount required to be paid to such Lender to adequately indemnify or compensate such Lender for losses suffered or costs incurred by such Lender as provided in such Section; and (viviii) notwithstanding the foregoing, after and during the continuance of a Default, each payment or distribution of cash, property, securities or other value received by the Agent or any Lender, directly or indirectly, in respect of the Borrower's Indebtedness hereunder, whether pursuant to this Article I or any attachment, garnishment, execution or other proceedings for the collection thereof or pursuant to any bankruptcy, reorganization, liquidation or other similar proceeding or otherwise, after payment of collection and other expenses as provided herein and in the Security Documents, shall be apportioned among the Lenders pro rata based upon the respective aggregate unpaid principal amount of all Loans owed to each of themthem and their respective shares of the aggregate Commitments, which Commitments shall be permanently reduced in such pro rated amount, together with any applicable prepayments of the Revolving Notes and any other payments required under Section 1.09(e)(iv).

Appears in 1 contract

Samples: Credit Agreement (Pegasus Communications Corp)

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