Commitment Reallocation definition
Examples of Commitment Reallocation in a sentence
On each Commitment Reallocation Date, Schedule 1.01 hereof shall be amended and restated in its entirety and replaced with Schedule II to any relevant Commitment Reallocation Request.
The Administrative Agent shall determine the effective date of any Commitment Reallocation (the “Commitment Reallocation Date”) which (unless otherwise agreed in writing by the Administrative Agent) shall be no less than two (2) Business Days after receipt of a Commitment Reallocation Request and shall notify the Borrower Parties and the Lenders of the Commitment Reallocation Date.
For the avoidance of doubt, (x) a Commitment Reallocation with respect any Loan shall not be deemed to be a repayment or prepayment thereon, (y) no Lender shall be obligated to fund any Loan if the interest rate applicable thereto under Section 2.06(a) hereof would exceed the Maximum Rate in effect with respect to such Loan.
On any Commitment Reallocation Date with respect to any Commitment Reallocation, the Administrative Agent will reallocate the outstanding Loans hereunder such that, after giving effect thereto, the ratio of each Lender’s share of outstanding Revolving Loans and Term Loans, and its share of Commitments, is the same as that of each other Lender participating in such Commitment Reallocation, unless otherwise agreed by such Lender (in its sole discretion).