Settlement Among Lenders. (a) The amount of each Lender’s Applicable Percentage of outstanding Loans shall be computed weekly (or more frequently in the Administrative Agent’s discretion) and shall be adjusted upward or downward based on all Loans and repayments of Loans received by the Administrative Agent as of 3:00 p.m. on the first Business Day (such date, the “Settlement Date”) following the end of the period specified by the Administrative Agent.
Appears in 2 contracts
Samples: Credit Agreement (BTHC VII Inc), Term Loan and Security Agreement (BTHC VII Inc)
Settlement Among Lenders. (a) The amount of each Revolving Lender’s Applicable Percentage of outstanding Revolving Loans shall be computed weekly (or more frequently in the Administrative Agent’s discretion) and such amount shall be adjusted upward or downward based on all Revolving Loans and repayments of Revolving Loans received by the Administrative Agent as of 3:00 p.m. on the first Business Day (such date, the “Settlement Date”) following the end of the period specified by the Administrative Agent.
Appears in 2 contracts
Samples: Credit Agreement (Twin Disc Inc), Credit Agreement (StarTek, Inc.)
Settlement Among Lenders. (a) The amount of each Lender’s Applicable Percentage of outstanding Loans Term Loan shall be computed weekly (or more frequently in the Administrative Agent’s discretion) and shall be adjusted upward or downward based on all Loans Term Loan and repayments of Loans the Term Loan received by the Administrative Agent as of 3:00 p.m. on the first Business Day (such date, the “Settlement Date”) following the end of the period specified by the Administrative Agent.
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