Common use of Accordion Option Clause in Contracts

Accordion Option. Provided that no Event of Default or Default has occurred and is continuing as of the request date or the effective date thereof after giving effect thereto, the Borrowers may from time to time request an increase in the aggregate Revolving Commitments (each an “Accordion Increase”) in accordance with this Section 2.25(a); provided that the aggregate principal amount of all increases to the Revolving Commitments made pursuant to this Section 2.25(a)) shall not exceed $100,000,000 (the “Maximum Aggregate Increase Amount”) and each requested Accordion Increase shall not be less than $25,000,000.

Appears in 2 contracts

Samples: Credit Agreement (Rayonier Inc), Credit Agreement (Rayonier Inc)

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Accordion Option. Provided that no Event of Default or Default has occurred and is continuing as of the request date or the effective date thereof after giving effect thereto, the Borrowers may from time to time request an increase in the aggregate Revolving Commitments (each an “Accordion Increase”) in accordance with this Section 2.25(a); provided that the aggregate principal amount of all increases to the Revolving Commitments made pursuant CHAR1\1713543v7 to this Section 2.25(a)) shall not exceed $100,000,000 (the “Maximum Aggregate Increase Amount”) and each requested Accordion Increase shall not be less than $25,000,000.

Appears in 1 contract

Samples: Credit Agreement (Rayonier Inc)

Accordion Option. Provided that no Event of Default or Default has occurred and is continuing as of the request date or the effective date thereof after giving effect thereto, the Borrowers may from time to time request an increase in the aggregate Revolving Commitments (each an “Accordion Increase”) in accordance with this Section 2.25(a); provided that the aggregate principal amount of all increases to the Revolving Commitments made pursuant to this Section 2.25(a)) shall not exceed $100,000,000 (the “Maximum Aggregate Increase Amount”) and each requested Accordion Increase shall not be less than $25,000,000.

Appears in 1 contract

Samples: Incremental Term Loan Agreement and Amendment to Guarantee Agreement (Rayonier, L.P.)

Accordion Option. Provided that no Event of Default or Default has occurred and is continuing as of the request date or the effective date thereof after giving effect thereto, and subject to credit approval by the Borrowers Lender, the Borrower may from time to time request an increase in the Revolving Commitment in accordance with this Section 2.3; provided, that the increase made pursuant to this Section 2.3 shall not exceed $15,000,000 and the increased aggregate Revolving Commitments Commitment shall not exceed $40,000,000 (the “Maximum Revolving Commitment Amount”) and each requested increase (each an “Accordion Increase”) in accordance with this Section 2.25(a); provided that the aggregate principal amount of all increases to the Revolving Commitments made pursuant to this Section 2.25(a)) shall not exceed $100,000,000 (the “Maximum Aggregate Increase Amount”) and each requested Accordion Increase shall not be less than $25,000,0005,000,000 (or the entire remaining balance of the Maximum Revolving Commitment Amount, if less).

Appears in 1 contract

Samples: Credit Agreement (Par Technology Corp)

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Accordion Option. Provided that no Event of Default or Default has occurred and is continuing as of the request date or the effective date thereof after giving effect thereto, the Borrowers Borrower may from time to time request an increase in the aggregate Revolving Commitments (each an “Accordion Increase”) in accordance with this Section 2.25(a2.1(e); provided that the aggregate principal amount of all increases to the Revolving Commitments made pursuant to this Section 2.25(a)2.1(e) shall not exceed $100,000,000 (the “Maximum Aggregate Increase Amount”) and each requested increase (each an “Accordion Increase Increase”) shall not be less than $25,000,0005,000,000.

Appears in 1 contract

Samples: 364 Day Revolving Credit Agreement (Seaboard Corp /De/)

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