Common use of Repayment of Outstanding Loans; Borrowing of New Loans Clause in Contracts

Repayment of Outstanding Loans; Borrowing of New Loans. On the effective date of such increase in the Revolving Credit Commitments, the Borrower shall repay all Revolving Credit Loans then outstanding, subject to the Borrower’s indemnity obligations under Section 5.10 [Indemnity]; provided, that the Administrative Agent will use its reasonable efforts to assist the Borrower in attempting to minimize such indemnity obligations under Section 5.10 [Indemnity]; provided, further, that it may borrow new Loans with a Borrowing Date on such date. Each of the Lenders shall participate in any new Loans made on or after such date in accordance with their respective Ratable Shares after giving effect to the increase in Revolving Credit Commitments contemplated by this Section 2.11(b) [Treatment of Outstanding Loans and Letters of Credit].

Appears in 2 contracts

Samples: Credit Agreement (Helios Technologies, Inc.), Credit Agreement (Helios Technologies, Inc.)

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Repayment of Outstanding Loans; Borrowing of New Loans. On the effective date of such increase in the Revolving Credit Commitmentsincrease, the Borrower shall repay all Revolving Credit Loans then outstanding, subject to the Borrower’s 's indemnity obligations under Section 5.10 [Indemnity]; provided, that the Administrative Agent will use its reasonable efforts to assist the Borrower in attempting to minimize such indemnity obligations under Section 5.10 [Indemnity]; provided, further, that it may borrow new Loans with a Borrowing Date on such date. Each of the Lenders shall participate in any new Loans made on or after such date in accordance with their respective Ratable Shares after giving effect to the increase in Revolving Credit Commitments contemplated by this Section 2.11(b) [Treatment of Outstanding Loans and Letters of Credit]).

Appears in 2 contracts

Samples: Credit Agreement (Sun Hydraulics Corp), Credit Agreement (Sun Hydraulics Corp)

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Repayment of Outstanding Loans; Borrowing of New Loans. On the effective date of such increase in the Revolving Credit CommitmentsCommitment Increase Date, the Borrower shall repay all Revolving Credit Loans then outstandingoutstanding Loans, subject to the Borrower’s indemnity obligations under Section 5.10 4.6.2 [Indemnity]; , provided, that the Administrative Agent will use its reasonable efforts to assist the Borrower in attempting to minimize such indemnity obligations under Section 5.10 [Indemnity]; provided, further, that it may borrow new Loans with a Borrowing Date on such datethe Commitment Increase Date and, provided further, that the Borrower and the Agent shall use reasonable efforts to try to minimize amounts payable on account of Borrower’s indemnity obligations under Section 4.6.2 [Indemnity]. Each of the Lenders shall participate in any new Loans made on or after such date the Commitment Increase Date in accordance with their respective Ratable Shares after giving effect to the increase in Revolving Credit Commitments contemplated by this Section 2.11(b) [Treatment of Outstanding Loans and Letters of Credit]2.10.2.1.

Appears in 1 contract

Samples: Credit Agreement (Penn Virginia Resource Partners L P)

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