Common use of Accordion Facilities Clause in Contracts

Accordion Facilities. (a) Before the Maturity Date, the Borrower may by written notice to Administrative Agent elect to request the establishment of one or more increases in the Total Commitment (each increase to the Total Commitment, a “New Commitment” and, collectively, the “New Commitments”), in an aggregate amount not to exceed $1,000,000,000. Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Commitments shall be effective, which shall be a date not less than ten Business Days after the date on which such notice is delivered to the Administrative Agent; provided that any Lender offered or approached to provide all or a portion of the New Commitments may elect or decline, in its sole discretion, to provide a New Commitment. Such New Commitments shall become effective as of such Increased Amount Date; provided further that, (i) no Event of Default shall exist on such Increased Amount Date before or after giving effect to such New Commitments; (ii) the Borrower shall make any payments required pursuant to this Agreement (including Section 2.15) to the Administrative Agent and the Lenders (other than any Defaulting Lender), in connection with the New Commitments, as applicable; (iii) the Administrative Agent, the Swingline Lender and the Issuing Banks shall have consented to such prospective lender (such consent not to be unreasonably withheld or delayed) and (iv) such New Commitment will be documented solely as an increase to the Total Commitment, without any change to the terms of revolving facility provided for herein. The proceeds of each New Commitment shall be used for working capital and general corporate purposes. For the avoidance of doubt, no Lender shall be obligated to provide any portion of the New Commitments.

Accordion Facilities. (a) Before the Maturity Date, the Borrower may by written notice to Administrative Agent elect to request the establishment of one or more increases in the Total Commitment (each increase to the Total Commitment, a “New Commitment” and, collectively, the “New Commitments”), in an aggregate amount not to exceed $1,000,000,0001,000,000,0000. Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Commitments shall be effective, which shall be a date not less than ten Business Days after the date on which such notice is delivered to the Administrative Agent; provided that any Lender offered or approached to provide all or a portion of the New Commitments may elect or decline, in its sole discretion, to provide a New Commitment. Such New Commitments shall become effective as of such Increased Amount Date; provided further that, (i) no Event of Default shall exist on such Increased Amount Date before or after giving effect to such New Commitments; (ii) the Borrower shall make any payments required pursuant to this Agreement (including Section 2.15) to the Administrative Agent and the Lenders (other than any Defaulting Lender), in connection with the New Commitments, as applicable; (iii) the Administrative Agent, the Swingline Lender and the Issuing Banks shall have consented to such prospective lender (such consent not to be unreasonably withheld or delayed) and (iv) such New Commitment will be documented solely as an increase to the Total Commitment, without any change to the terms of revolving facility provided for herein. The proceeds of each New Commitment shall be used for working capital and general corporate purposes. For the avoidance of doubt, no Lender shall be obligated to provide any portion of the New Commitments.

Accordion Facilities. (a) Before the Maturity Date, the Borrower may by written notice to Administrative Agent elect to request the establishment of one or more increases in the Total Commitment (each increase to the Total Commitment, a “New Commitment” and, collectively, the “New Commitments”), in an aggregate amount not to exceed $1,000,000,000. Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Commitments shall be effective, which shall be a date not less than ten Business Days after the date on which such notice is delivered to the Administrative Agent; provided that any Lender offered or approached to provide all or a portion of the New Commitments may elect or decline, in its sole discretion, to provide a New Commitment. Such New Commitments shall become effective as of such Increased Amount Date; provided further that, (i) no Event of Default shall exist on such Increased Amount Date before or after giving effect to such New Commitments; (ii) the covenant set forth in Section 6.07 shall be satisfied on a pro forma basis as of the Increased Amount Date and as of the last day of the Most Recent Financial Statement Date, after giving effect to such New Commitments (assuming for the purposes of such calculation that any New Commitments are fully drawn) and other customary and appropriate pro forma adjustments, including any acquisitions or dispositions after the beginning of the relevant determination period and prior to or simultaneous with the effectiveness of such New Commitments; (iii) the Borrower shall make any payments required pursuant to this Agreement (including Section 2.15) to the Administrative Agent and the Lenders (other than any Defaulting Lender), in connection with the New Commitments, as applicable; (iiiiv) the Administrative Agent, the Swingline Lender and the Issuing Banks shall have consented to such prospective lender (such consent not to be unreasonably withheld or delayed) and (ivvi) such New Commitment will be documented solely as an increase to the Total Commitment, without any change to the terms of revolving facility provided for herein. The proceeds of each New Commitment shall be used for working capital and general corporate purposes. For the avoidance of doubt, no Lender shall be obligated to provide any portion of the New Commitments.