Common use of Refunding Clause in Contracts

Refunding. (A) Swingline Loans shall be refunded by the Lenders in Euros on demand by the applicable Swingline Lender. Such refundings shall be made by the Lenders in accordance with their respective Pro Rata Share and shall thereafter be reflected as Revolving Loans of the Lenders that are Eurocurrency Rate Loans in Euros on the books and records of the Administrative Agent. Each Lender shall fund its respective Pro Rata Share of Revolving Loans as required to repay Swingline Loans outstanding to the applicable Swingline Lender in immediately available funds upon demand by the applicable Swingline Lender but in no event later than 1:00 p.m. (Pacific time) on the third succeeding Business Day after such demand is made. No Lender’s obligation to fund its respective Pro Rata Share of a Swingline Loan shall be affected by any other Lender’s failure to fund its Pro Rata Share of a Swingline Loan, nor shall any Lender’s Pro Rata Share be increased as a result of any such failure of any other Lender to fund its Pro Rata Share of a Swingline Loan.

Appears in 3 contracts

Samples: Credit Agreement (Salesforce, Inc.), Credit Agreement (SALESFORCE.COM, Inc.), Credit Agreement (Salesforce, Inc.)

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Refunding. (Ai) Swingline Loans shall be refunded by the Lenders in Euros on demand by the applicable Swingline Lender. Such refundings shall be made by the Lenders in accordance with their respective Pro Rata Share Percentages and shall thereafter be reflected as Revolving Loans of the Lenders that are Eurocurrency Rate Loans in Euros on the books and records of the Administrative Agent. Each Lender shall fund its respective Pro Rata Share Percentage of Revolving Loans as required to repay Swingline Loans outstanding to the applicable Swingline Lender in immediately available funds upon demand by the applicable Swingline Lender but in no event later than 1:00 2:00 p.m. (Pacific time) on the third succeeding next Business Day after such demand is made. No Lender’s obligation to fund its respective Pro Rata Share Percentage of a Swingline Loan shall be affected by any other Lender’s failure to fund its Pro Rata Share Percentage of a Swingline Loan, nor shall any Lender’s Pro Rata Share Percentage be increased as a result of any such failure of any other Lender to fund its Pro Rata Share Percentage of a Swingline Loan.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Choice Hotels International Inc /De), Revolving Credit Agreement (Choice Hotels International Inc /De)

Refunding. (Ai) Swingline Loans shall be refunded by the Lenders in Euros on demand by the applicable Swingline LenderLender (with a copy to the Administrative Agent). Such refundings shall be made by the Lenders in accordance with their respective each Lender’s Pro Rata Share Percentage and shall thereafter be reflected as Revolving Loans of the Lenders that are Eurocurrency Rate Loans in Euros on the books and records of the Administrative Agent. Each Lender shall fund its respective Pro Rata Share Percentage of Revolving Loans as required to repay Swingline Loans outstanding to the applicable Swingline Lender in immediately available funds upon demand by the applicable Swingline Lender but in no event later than 1:00 p.m. (Pacific time) on the third next succeeding Business Day after such demand is mademade and Swingline Lender shall notify the Administrative Agent within one (1) Business Day of receipt of such refundings. No Lender’s obligation to fund its respective Pro Rata Share Percentage of a Swingline Loan shall be affected by any other Lender’s failure to fund its Pro Rata Share Percentage of a Swingline Loan, nor shall any Lender’s Commitment or Pro Rata Share Percentage be increased as a result of any such failure of any other Lender to fund its Pro Rata Share Percentage of a Swingline Loan.

Appears in 2 contracts

Samples: Credit Agreement (Choice Hotels International Inc /De), Senior Unsecured Credit Agreement (Choice Hotels International Inc /De)

Refunding. (Ai) Swingline Loans shall be refunded by the Revolving Lenders in Euros on demand by the applicable Swingline Lender. Such refundings shall be made by the Revolving Lenders ratably in accordance with their respective Pro Rata Share of the Revolving Commitments and shall thereafter be reflected as Revolving Loans of the Revolving Lenders that are Eurocurrency Rate Loans in Euros on the books and records of the Administrative Agent. Each Revolving Lender shall fund its respective Pro Rata Share of Revolving Loans as required to repay Swingline Loans outstanding to the applicable Swingline Lender in immediately available funds upon demand by the applicable Swingline Lender but in no event later than 1:00 p.m. (Pacific time) on the third next succeeding Business Day after such demand is made. No Revolving Lender’s obligation to fund its respective Pro Rata Share of a Swingline Loan shall be affected by any other Revolving Lender’s failure to fund its Pro Rata Share of a Swingline Loan, nor shall any Revolving Lender’s Pro Rata Share be increased as a result of any such failure of any other Revolving Lender to fund its Pro Rata Share of a Swingline Loan.

Appears in 2 contracts

Samples: Credit Agreement (Fortegra Financial Corp), Credit Agreement (Fortegra Financial Corp)

Refunding. (Ai) Swingline Loans shall be refunded by the Lenders in Euros on demand by the applicable Swingline Lender. Such refundings shall be made by the Lenders in accordance with their respective Pro Rata Share Percentages and shall thereafter be reflected as Revolving Loans of the Lenders that are Eurocurrency Rate Loans in Euros on the books and records of the Administrative Agent. Each Lender shall fund its respective Pro Rata Share Percentage of Revolving Loans as required to repay Swingline Loans outstanding to the applicable Swingline Lender in immediately available funds upon demand by the applicable Swingline Lender but in no event later than 1:00 2:00 p.m. (Pacific time) on the third succeeding next Business Day after such demand is made. No Lender’s obligation to fund its respective Pro Rata Share Percentage of a Swingline Loan shall be affected by any other Lender’s failure to fund its Pro Rata Share Percentage of a Swingline Loan, nor shall any Lender’s Pro Rata Share Percentage be increased as a result of any such failure of any other Lender to fund its Pro Rata Share Percentage of a Swingline Loan.

Appears in 1 contract

Samples: Credit Agreement (Choice Hotels International Inc /De)

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Refunding. (A) Swingline Loans shall be refunded by the Lenders in Euros Dollars on demand by the applicable Swingline Lender. Such refundings shall be made by the Lenders in accordance with their respective Pro Rata Share and shall thereafter be reflected as Revolving Loans of the Lenders that are Eurocurrency Alternate Base Rate Loans in Euros on the books and records of the Administrative Agent. Each Lender shall fund its respective Pro Rata Share of Revolving Loans as required to repay Swingline Loans outstanding to the applicable Swingline Lender in immediately available funds upon demand by the applicable Swingline Lender but in no event later than 1:00 p.m. (Pacific time) on the third next succeeding Business Day after such demand is made. No Lender’s obligation to fund its respective Pro Rata Share of a Swingline Loan shall be affected by any other Lender’s failure to fund its Pro Rata Share of a Swingline Loan, nor shall any Lender’s Pro Rata Share be increased as a result of any such failure of any other Lender to fund its Pro Rata Share of a Swingline Loan.

Appears in 1 contract

Samples: Credit Agreement (Salesforce Com Inc)

Refunding. (A) i. Swingline Loans shall be refunded by the Lenders in Euros on demand by the applicable Swingline LenderLender (with a copy to the Administrative Agent). Such refundings shall be made by the Lenders in accordance with their respective each Lender’s Pro Rata Share Percentage and shall thereafter be reflected as Revolving Loans of the Lenders that are Eurocurrency Rate Loans in Euros on the books and records of the Administrative Agent. Each Lender shall fund its respective Pro Rata Share Percentage of Revolving Loans as required to repay Swingline Loans outstanding to the applicable Swingline Lender in immediately available funds upon demand by the applicable Swingline Lender but in no event later than 1:00 p.m. (Pacific time) on the third next succeeding Business Day after such demand is mademade and Swingline Lender shall notify the Administrative Agent within one (1) Business Day of receipt of such refundings. No Lender’s obligation to fund its respective Pro Rata Share Percentage of a Swingline Loan shall be affected by any other Lender’s failure to fund its Pro Rata Share Percentage of a Swingline Loan, nor shall any Lender’s Commitment or Pro Rata Share Percentage be increased as a result of any such failure of any other Lender to fund its Pro Rata Share Percentage of a Swingline Loan.

Appears in 1 contract

Samples: Senior Unsecured Credit Agreement (Choice Hotels International Inc /De)

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