Common use of Repayment and Reborrowing of Loans Clause in Contracts

Repayment and Reborrowing of Loans. On the Closing Date, the Borrowers shall repay all outstanding Loans to which either the Base Rate Option or the Euro-Rate Option applies under the Original Credit Agreement and simultaneously reborrow a like amount of Revolving Credit Loans under each such Interest Rate Option from the Banks (including each new Bank and Increasing Bank) according to their Ratable Shares set forth on attached Schedule 1.1(B) and shall be subject to breakage fees and other indemnities provided in Section 5.5.2 [Indemnity]. In addition, the Borrowers shall borrow the full amount of the Term Loans in a single draw on the Closing Date and select an Interest Rate Option applicable thereto by notifying the Administrative Agent thereof in a manner and within a time period prior to the Closing Date which is satisfactory to the Administrative Agent.