Additional Term Facilities Clause Samples

Additional Term Facilities. Any Term Facility may, if determined necessary by the Administrative Agent and the Lenders providing such Term Commitments, in their reasonable discretion, be effected pursuant to one or more amendments (each, a “Term Loan Amendment”) executed and delivered by the Borrowers, the applicable Term Lenders providing such Term Facility, and the Administrative Agent. All Term Loans for any Term Facility shall (A) mature on the Maturity Date with respect thereto as set forth in the applicable Term Loan Amendment, but shall mature no earlier than the earliest Maturity Date for any Term Facility, (B) bear interest at such rates as are agreed upon by the Borrower and the Term Lenders providing such Term Facility, (C) not require scheduled amortization prior to the earliest Maturity Date for any outstanding Term Facility but may permit voluntary prepayment (subject to sub-clause (D) hereof), and (D) not rank higher than pari passu in right of payment and with respect to security with all Revolving Credit Loans and any other existing Term Loans or have different borrower or guarantors as the Borrowers and Guarantors with respect to all other Obligations. Each Term Loan Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as are consistent with this Section 2.15 and may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.15 with respect thereto. On any Increase Effective Date on which any Term Facilities are effected, subject to the satisfaction of the foregoing terms and conditions, (i) each applicable Term Lender shall make a Term Loan to the Borrowers in an amount equal to its Term Commitment as of such date, and (ii) each Term Lender shall become a Lender hereunder with respect to the Term Commitment and the Term Loans made pursuant thereto.