Common use of Accordion Clause in Contracts

Accordion. (a) At any time during the period from and after the Closing Date through but excluding the date that is 180 days prior to the Maturity Date, at the option of Borrowers (but subject to the conditions set forth in clause (b) below), the Revolver Commitments and the Maximum Revolver Amount may be increased by an amount in the aggregate for all such increases of the Revolver Commitments and the Maximum Revolver Amount not to exceed the Available Increase Amount (each such increase, an “Increase”). Agent and Borrowers may invite existing Lenders to increase their Revolver Commitments (it being understood that no Lender shall be obligated to increase its Revolver Commitment), and/or one or more prospective lenders who are reasonably satisfactory to Agent and Borrowers to become new Lenders in connection with a proposed Increase. Any Increase shall be in an amount of at least $5,000,000 and integral multiples thereof. In no event may the Revolver Commitments and the Maximum Revolver Amount be increased pursuant to this Section 2.14 on more than two occasions in the aggregate for all such Increases. Additionally, for the avoidance of doubt, it is understood and agreed that in no event shall the aggregate amount of the Increases to the Revolver Commitments exceed $50,000,000.

Appears in 2 contracts

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

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Accordion. (a) At any time during the period from and after the Closing Seventeenth Amendment Effective Date through but excluding the date that is 180 days prior to the Maturity 5th year anniversary of the Seventeenth Amendment Effective Date, at the option of Borrowers (but subject to the conditions set forth in clause (b) below), the Revolver Commitments and the Maximum Revolver Amount may be increased by an amount in the aggregate for all such increases of the Revolver Commitments and the Maximum Revolver Amount not to exceed the Available Revolver Increase Amount (each such increase, an "Increase"). Agent and Borrowers may invite existing Lenders to increase their Revolver Commitments (it being understood that no any Lender, any Affiliate of Lender shall be obligated to increase its Revolver Commitment), and/or one or more any other prospective lenders lender who are is reasonably satisfactory to Agent and Borrowers to become new Lenders a Lender in connection with a proposed Increase. Any Increase shall be in an amount of at least $5,000,000 10,000,000 and integral multiples of $10,000,000 in excess thereof. In no event may the Revolver Commitments and the Maximum Revolver Amount be increased pursuant to this Section 2.14 2.15 on more than two three (3) occasions in the aggregate for all such Increases. Additionally, for the avoidance of doubt, it is understood and agreed that in no event shall the aggregate amount of the Increases to the Revolver Commitments exceed $50,000,000100,000,000.

Appears in 1 contract

Samples: Credit Agreement (Renewable Energy Group, Inc.)

Accordion. (a) At any time during the period from and after the Closing Date through but excluding the date that is 180 days prior to the Maturity 3 year anniversary of the Closing Date, at the option of Borrowers (but subject to the conditions set forth in clause (b) below), the US Revolver Commitments and the Maximum Revolver Amount may be increased by an amount in the aggregate for all such increases of the US Revolver Commitments and the Maximum Revolver Amount not to exceed the Available Revolver Increase Amount (each such increase, an “Increase”)Amount. Agent and Borrowers may shall invite existing Lenders each Lender to increase their its US Revolver Commitments (it being understood that no Lender shall be obligated to increase its US Revolver Commitment)Commitments) in connection with a proposed Increase at the interest margin proposed by Borrowers, and/or one and if sufficient Lenders do not agree to increase their US Revolver Commitments in connection with such proposed Increase, then Agent or more Borrowers may invite any prospective lenders lender who are is reasonably satisfactory to Agent and Borrowers to become new Lenders a Lender in connection with a proposed Increase. Any Increase shall be in an amount of at least $5,000,000 and integral multiples of $5,000,000 in excess thereof. In no event may the Revolver Commitments and the Maximum Revolver Amount be increased pursuant to this Section 2.14 on more than two occasions in the aggregate for all such Increases. Additionally, for the avoidance of doubt, it is understood and agreed that in no event shall the aggregate amount of the Increases to the US Revolver Commitments exceed $50,000,00025,000,000.

Appears in 1 contract

Samples: Credit Agreement (Kronos Worldwide Inc)

Accordion. (a) At any time during the period from and after the Closing Second Restatement Effective Date through but excluding the date that is 180 days prior to the Maturity Date, at the option of Borrowers (but subject to the conditions set forth in clause (b) below), the Revolver Commitments and the Maximum Revolver Amount may be increased by an amount in the aggregate for all such increases of the Revolver Commitments and the Maximum Revolver Amount not to exceed the Available Increase Amount (each such increase, an “Increase”). Agent and Borrowers may invite existing Lenders to increase their Revolver Commitments (it being understood that no Lender shall be obligated to increase its Revolver Commitment), and/or one or more prospective lenders who are reasonably satisfactory to Agent and Borrowers to become new Lenders in connection with a proposed Increase. Any Increase shall be in an amount of at least $5,000,000 and integral multiples thereof. In no event may the Revolver Commitments and the Maximum Revolver Amount be increased pursuant to this Section 2.14 on more than two occasions in the aggregate for all such Increases. Additionally, for the avoidance of doubt, it is understood and agreed that in no event shall the aggregate amount of the Increases to the Revolver Commitments enacted after the Second Restatement Effective Date exceed $50,000,00075,000,000.

Appears in 1 contract

Samples: Credit Agreement (Unifi Inc)

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Accordion. (a) At any time during the period from and after the Closing ClosingThird Amendment Effective Date through but excluding the date that is 180 days prior to the Maturity Date, at the option of Borrowers (but subject to the conditions set forth in clause (b) below), the Revolver Commitments and the Maximum Revolver Amount may be increased by an amount in the aggregate for all such increases of the Revolver Commitments and the Maximum Revolver Amount not to exceed the Available Increase Amount (each such increase, an “Increase”). Agent and Borrowers may invite existing Lenders to increase their Revolver Commitments (it being understood that no Lender shall be obligated to increase its Revolver Commitment), and/or one or more prospective lenders who are reasonably satisfactory to Agent and Borrowers to become new Lenders in connection with a proposed Increase. Any Increase shall be in an amount of at least $5,000,000 and integral multiples thereof. In no event may the Revolver Commitments and the Maximum Revolver Amount be increased pursuant to this Section 2.14 on more than two occasions in the aggregate for all such Increases. Additionally, for the avoidance of doubt, it is understood and agreed that in no event shall the aggregate amount of the Increases to the Revolver Commitments enacted after the Third Amendment Effective Date exceed $50,000,00050,000,000.75,000,000.

Appears in 1 contract

Samples: Credit Agreement (Unifi Inc)

Accordion. (a) At any time during the period from and after the Closing Date through but excluding the date that is 180 days prior to the Maturity Date, at the option of Borrowers (but subject to the conditions set forth in clause (b) below), the Revolver Revolving Credit Commitments and the Maximum Revolver Amount may be increased by an amount in the aggregate for all such increases of the Revolver Revolving Credit Commitments and the Maximum Revolver Amount not to exceed the Available Increase Amount (each such increase, an "Increase"). Administrative Agent and Borrowers may shall invite existing Lenders each Lender to increase their Revolver its Revolving Credit Commitments (it being understood that no Lender shall be obligated to increase its Revolver Commitment)Revolving Credit Commitments) in connection with a proposed Increase at the interest margin proposed by Borrowers, and/or one or more and if sufficient Lenders do not agree to increase their Revolving Credit Commitments in connection with such proposed Increase, then Administrative Agent may invite any prospective lenders lender who are reasonably is satisfactory to Administrative Agent and Borrowers in its sole discretion to become new Lenders a Lender in connection with a proposed Increase. Any Increase shall be in an amount of at least $5,000,000 and integral multiples of $1,000,000 in excess thereof. In no event may the Revolver Revolving Credit Commitments and the Maximum Revolver Amount be increased pursuant to this Section 2.14 2.12 on more than two 3 occasions in the aggregate for all such Increases. Additionally, for the avoidance of doubt, it is understood and agreed that in no event shall the aggregate amount of the Increases to the Revolver Revolving Credit Commitments exceed $50,000,00015,000,000.

Appears in 1 contract

Samples: Financing Agreement (KushCo Holdings, Inc.)

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