Common use of Additional Facility Increase Matters Clause in Contracts

Additional Facility Increase Matters. (i) On any Increased Amount Date on which any New Term Loan Commitments of any Series are effective, subject to the satisfaction of the foregoing terms and conditions, (i) each New Term Loan Lender of any Series shall make a Loan to Borrower (a “New Term Loan”) in an amount equal to its New Term Loan Commitment of such Series, and (ii) each New Term Loan Lender of any Series shall become a Lender hereunder with respect to the New Term Loan Commitments of such Series and the New Term Loans of such Series made pursuant thereto. Any New Term Loans made on an Increased Amount Date shall be designated a separate series (a “Series”) of New Term Loans for all purposes of this Agreement.

Appears in 3 contracts

Samples: Term Loan Agreement (Xenia Hotels & Resorts, Inc.), Term Loan Agreement (Xenia Hotels & Resorts, Inc.), Term Loan Agreement (Xenia Hotels & Resorts, Inc.)

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Additional Facility Increase Matters. (i) On any Increased Amount Date on which any New Term Loan Commitments of any Series are effective, subject to the satisfaction of the foregoing terms and conditions, (i) each New Term Loan Lender of any Series shall make a Loan to Borrower (a “New Term Loan”) in an amount equal to its New Term Loan Commitment of such Series, and (ii) each New Term Loan Lender of any Series shall become a Lender hereunder with respect to the New Term Loan Commitments of such Series and the New Term Loans of such Series made pursuant thereto. Any New Term Loans made on an Increased Amount Date shall be designated a separate series (unless such New Term Loans are deemed an increase in an existing series) (a “Series”) of New Term Loans for all purposes of this Agreement.

Appears in 1 contract

Samples: Term Loan Agreement (Xenia Hotels & Resorts, Inc.)

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