Common use of Additional Conditions for Establishment of Incremental Revolving Loan Facility Clause in Contracts

Additional Conditions for Establishment of Incremental Revolving Loan Facility. In addition to the requirements of Section 2.01(d), establishment of an Incremental Revolving Loan Facility is subject to the following additional conditions: (i) any such increase will be in a minimum principal amount of $10,000,000 and integral multiples of $1,000,000 in excess thereof; (ii) any new lender providing loans and commitments for the Incremental Revolving Loan Facilities must be reasonably acceptable to the L/C Issuer and the Swing Line Lender; and (iii) if any Revolving Loans are outstanding at the time of establishment of the Incremental Revolving Loan Facility, the Borrower will make such payments and adjustments on the Revolving Loans (including payment of any break-funding amounts owing under Section 3.05) as may be necessary to give effect to the revised commitment amounts and Pro Rata Shares, it being agreed that the Administrative Agent shall, in consultation with the Borrower, manage the allocation of the revised Pro Rata Shares to the existing Eurodollar Rate Loans in such a manner as to minimize the break-funding amounts so payable by the Borrower. Any Incremental Revolving Loan Facility established by way of increasing the Aggregate Revolving Commitments under Section 2.01(a) shall be a part of the Revolving Loans and Revolving Commitments hereunder subject to the same terms and conditions without distinction from the Revolving Loans and Revolving Commitments existing prior to their establishment, except as may be expressly provided in connection therewith (such as any upfront fees, different interest rate or different later final maturity date); provided that the final maturity date of any Incremental Revolving Loan Facility shall be no earlier than the final maturity date of the then existing Revolving Loans and Revolving Commitment.

Appears in 3 contracts

Samples: Credit Agreement (Armstrong World Industries Inc), Credit Agreement (Armstrong World Industries Inc), Credit Agreement (Armstrong World Industries Inc)

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Additional Conditions for Establishment of Incremental Revolving Loan Facility. In addition to the requirements of Section 2.01(d2.01(c), establishment of an Incremental Revolving Loan Facility is subject to the following additional conditions: (i) any such increase will be in a minimum principal amount of $10,000,000 and integral multiples of $1,000,000 in excess thereof; (ii) any new lender providing loans and commitments for the Incremental Revolving Loan Facilities must be reasonably acceptable to the Borrower, the Administrative Agent, the L/C Issuer and the Swing Line Lender; and (iii) if any Revolving Loans are outstanding at the time of establishment of the Incremental Revolving Loan Facility, the Borrower will make such payments and adjustments on the Revolving Loans (including payment of any break-funding amounts owing under Section 3.05) as may be necessary to give effect to the revised commitment amounts and Pro Rata Shares, it being agreed that the Administrative Agent shall, in consultation with the Borrower, manage the allocation of the revised Pro Rata Shares to the existing Eurodollar Rate Loans in such a manner as to minimize the break-funding amounts so payable by the Borrower. Any Incremental Revolving Loan Facility established by way of increasing the Aggregate Revolving Commitments under Section 2.01(a) shall be a part of the Revolving Loans and Revolving Commitments hereunder subject to the same terms and conditions without distinction from the Revolving Loans and Revolving Commitments existing prior to their establishment, except as may be expressly provided in connection therewith (such as any upfront fees, different interest rate or different later final maturity date); provided that the final maturity date of any Incremental Revolving Loan Facility shall be no earlier than the final maturity date of the then existing Revolving Loans and Revolving Commitment.

Appears in 2 contracts

Samples: Credit Agreement (Kraton Performance Polymers, Inc.), Credit Agreement (Kraton Polymers LLC)

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Additional Conditions for Establishment of Incremental Revolving Loan Facility. In addition to the requirements of Section 2.01(d), establishment of an Incremental Revolving Loan Facility is subject to the following additional conditions: (i) any such increase will be in a minimum principal amount of $10,000,000 and integral multiples of $1,000,000 in excess thereof; (ii) any new lender providing loans and commitments for the Incremental Revolving Loan Facilities must be reasonably acceptable to the L/C Issuer and the Swing Line Lender; and (iii) if any Revolving Loans are outstanding at the time of establishment of the Incremental Revolving Loan Facility, the Borrower Borrowers will make such payments and adjustments on the Revolving Loans (including payment of any break-funding amounts owing under Section 3.05) as may be necessary to give effect to the revised commitment amounts and Pro Rata Shares, it being agreed that the Administrative Agent shall, in consultation with the BorrowerBorrowers, manage the allocation of the revised Pro Rata Shares to the existing Eurodollar Rate Loans in such a manner as to minimize the break-funding amounts so payable by the BorrowerBorrowers. Any Incremental Revolving Loan Facility established by way of increasing the Aggregate Revolving Commitments under Section 2.01(a) shall be a part of the Revolving Loans and Revolving Commitments hereunder subject to the same terms and conditions without distinction from the Revolving Loans and Revolving Commitments existing prior to their establishment, except as may be expressly provided in connection therewith (such as any upfront fees, different interest rate or different later final maturity date); provided that the final maturity date of any Incremental Revolving Loan Facility shall be no earlier than the final maturity date of the then existing Revolving Loans and Revolving Commitment.

Appears in 1 contract

Samples: Credit Agreement (Armstrong World Industries Inc)

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