Common use of Borrower Request Clause in Contracts

Borrower Request. The Borrower may at any time and from time to time after the Closing Date by written notice to the Administrative Agent elect to increase the Term Facility and/or request the establishment of one or more new term loan facilities (each, an “Incremental Term Facility”) with term loan commitments (each, an “Incremental Term Loan Commitment”) in an amount not in excess of $100,000,000 in the aggregate, when combined with the aggregate amount of Incremental Revolving Commitments under Section 3.16, and in minimum increments of $1,000,000 and a minimum amount of $10,000,000 (or such lesser amount equal to the remaining Incremental Term Loan Commitments). Each such notice shall specify (i) the date (each, a “Term Loan Increase Effective Date”) on which the Borrower proposes that the Incremental Term Loan Commitment shall be effective, which shall be a date not less than three (3) Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each Person (which, if not a Lender, an Approved Fund or an Affiliate of a Lender, shall be reasonably satisfactory to the Administrative Agent (such acceptance not to be unreasonably withheld or delayed)) to whom the Borrower proposes any portion of such Incremental Term Loan Commitment be allocated and the amounts of such allocations.

Appears in 6 contracts

Samples: Credit Agreement (INC Research Holdings, Inc.), Credit Agreement (INC Research Holdings, Inc.), Credit Agreement (INC Research Holdings, Inc.)

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Borrower Request. The Borrower may at any time and from time to time after the Closing Date by written notice to the Administrative Agent elect to increase the Term Facility and/or request the establishment of one or more new term loan facilities (each, an “Incremental Term Facility”) with term loan commitments (each, an “Incremental Term Loan Commitment”) in an aggregate amount not in excess to exceed the greater of (a) $100,000,000 in 50,000,000 and (b) such amount as will not cause the aggregateSenior Secured Leverage Ratio as of the date of the most recent financial statements delivered pursuant to Section 6.1(a) or (b) to be greater than 4.25:1.00, when combined with on a pro forma basis after giving effect to the aggregate amount incurrence thereof and the application of Incremental Revolving Commitments under Section 3.16proceeds therefrom, and in minimum increments of $1,000,000 and a minimum amount of $10,000,000 (or such lesser amount equal to the remaining Incremental Term Loan Commitments)10,000,000. Each such notice shall specify (i) the date (each, a “Term Loan Increase Effective Date”) on which the Borrower proposes that the Incremental Term Loan Commitment shall be effective, which shall be a date not less than three ten (310) Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each Person (which, if not a Lender, an Approved Fund or an Affiliate of a Lender, shall be reasonably satisfactory to the Administrative Agent (such acceptance not to be unreasonably withheld or delayed)Agent) to whom the Borrower proposes any portion of such Incremental Term Loan Commitment be allocated and the amounts of such allocationsallocations (it being understood that no existing Lender will have an obligation to make a portion of any Incremental Term Loan).

Appears in 1 contract

Samples: Second Lien Term Loan Credit Agreement (Alkermes Plc.)

Borrower Request. The Borrower may at any time and from time to time after the Closing Restatement Date by written notice to the Administrative Agent elect to increase the Term Facility and/or request the establishment of one or more new term loan revolving credit facilities (each, an “Incremental Term Revolving Facility”) with term loan new revolving commitments (each, an “Incremental Term Loan Revolving Commitment”) in an amount not in excess of $100,000,000 212,000,000 in the aggregate, when combined with the aggregate amount of all Incremental Revolving Term Loan Commitments under Section 3.162.4, and in minimum increments of $1,000,000 and a minimum amount of $10,000,000 (or such lesser amount equal to minimum increments as the remaining Incremental Term Loan CommitmentsAdministrative Agent shall agree in its sole discretion). Each such notice shall specify (i) the date (each, a “Term Loan Revolving Commitment Increase Effective Date”) on which the Borrower proposes that the Incremental Term Loan Revolving Commitment shall be effective, which shall be a date not less than three ten (310) Business Days after the date on which such notice is delivered to the Administrative Agent (or such earlier date as the Administrative Agent shall agree in its sole discretion) and (ii) the identity of each Person (which, if not a Lender, an Approved Fund or an Affiliate of a Lender, shall be reasonably satisfactory to the Administrative Agent (such acceptance not to be unreasonably withheld or delayed)and the Issuing Lender) to whom the Borrower proposes any portion of such Incremental Term Loan Revolving Commitment be allocated and the amounts of such allocations.

Appears in 1 contract

Samples: Credit Agreement (Microsemi Corp)

Borrower Request. The Borrower may at any time and from time to time after the Closing Date by written notice to the Administrative Agent elect to increase the Term Facility and/or request the establishment of one or more new term loan facilities (each, an “Incremental Term Facility”) with term loan commitments (each, an “Incremental Term Loan Commitment”) in an aggregate amount not in excess to exceed the greater of (a) $100,000,000 in 50,000,000 and (b) such amount as will not cause the aggregateFirst Lien Secured Leverage Ratio as of the date of the most recent financial statements delivered pursuant to Section 6.1(a) or (b) to be greater than 3.00:1.00, when combined with on a pro forma basis after giving effect to the aggregate amount incurrence thereof and the application of Incremental Revolving Commitments under Section 3.16proceeds therefrom, and in minimum increments of $1,000,000 and a minimum amount of $10,000,000 (or such lesser amount equal to the remaining Incremental Term Loan Commitments)10,000,000. Each such notice shall specify (i) the date (each, a “Term Loan Increase Effective Date”) on which the Borrower proposes that the Incremental Term Loan Commitment shall be effective, which shall be a date not less than three ten (310) Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each Person (which, if not a Lender, an Approved Fund or an Affiliate of a Lender, shall be reasonably satisfactory to the Administrative Agent (such acceptance not to be unreasonably withheld or delayed)Agent) to whom the Borrower proposes any portion of such Incremental Term Loan Commitment be allocated and the amounts of such allocationsallocations (it being understood that no existing Lender will have an obligation to make a portion of any Incremental Term Loan).

Appears in 1 contract

Samples: First Lien Term Loan Credit Agreement (Alkermes Plc.)

Borrower Request. The Borrower may at any time and from time to time after the Closing Date by written notice to the Administrative Agent elect to request (x) prior to the Maturity Date for the Revolving Credit Facility, an increase to the Term Facility existing Revolving Credit Commitments (each, an “Incremental Revolving Commitment”) and/or request (y) the establishment of one or more new term loan facilities (each, an “Incremental Term Facility”) with term loan commitments (each, an “Incremental Term Loan Commitment”) in ), by an aggregate amount not in excess of $100,000,000 in the aggregate, when combined with the aggregate amount of Incremental Revolving Commitments under Section 3.16, and in minimum increments of $1,000,000 and a minimum amount of $10,000,000 (or such lesser amount equal to the remaining Incremental Term Loan Commitments)50,000,000. Each such notice shall specify (i) the date (each, a an Term Loan Increase Effective Date”) on which the Borrower proposes that the Incremental Term Loan Commitment Commitments shall be effective, which shall be a date not less than three (3) 10 Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each Person (which, if not a Lender, an Approved Fund or an Affiliate of a Lender, shall be reasonably satisfactory to the Administrative Agent (such acceptance not to be unreasonably withheld or delayed)) Eligible Assignee to whom the Borrower proposes any portion of such Incremental Term Loan Commitment Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the Incremental Commitments may elect or decline, in its sole discretion, to provide such Incremental Commitment. Each Incremental Commitment shall be in an aggregate amount of at least $10,000,000 (provided that such amount may be less than $10,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Commitments set forth in above).

Appears in 1 contract

Samples: Credit Agreement (Quidel Corp /De/)

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Borrower Request. The Borrower may at any time and from time to time after the Merger Closing Date by written notice to the Administrative Agent elect to increase the Term Facility and/or request the establishment of one or more new term loan facilities (each, an “Incremental Term Facility”) with term loan commitments (each, an “Incremental Term Loan Commitment”) in an amount not in excess of $100,000,000 50,000,000 in the aggregate, when combined with the aggregate amount of Incremental Revolving Commitments under Section 3.16, and in minimum increments of $1,000,000 and a minimum amount of $10,000,000 (or such lesser amount equal to the remaining Incremental Term Loan Commitments)10,000,000. Each such notice shall specify (i) the date (each, a “Term Loan Increase Effective Date”) on which the Borrower proposes that the Incremental Term Loan Commitment shall be effective, which shall be a date not less than three ten (310) Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each Person (which, if not a Lender, an Approved Fund or an Affiliate of a Lender, shall be reasonably satisfactory to the Administrative Agent (such acceptance not to be unreasonably withheld or delayed)Agent) to whom the Borrower proposes any portion of such Incremental Term Loan Commitment be allocated and the amounts of such allocations; provided that each existing Lender shall be approached first to provide all or a portion of the Incremental Term Loan Commitment and any existing Lender may elect or decline, in its sole discretion, to provide such Incremental Term Loan Commitment.

Appears in 1 contract

Samples: Credit Agreement (Intersil Corp/De)

Borrower Request. The Borrower may at any time and may, by written notice (each, an “Incremental Request”) to Agent from time to time after (whereupon the Closing Date by written Agent shall promptly make such notice available to each of the Administrative Agent elect to increase the Term Facility and/or Lenders), request the establishment of one or more new term loan facilities (each, an “Incremental Term Facility”) with term loan commitments (each, an “Incremental Term Loan Commitment”) in an amount not in excess of $100,000,000 in to exceed the aggregateIncremental Amount from Lenders or additional banks, when combined with financial institutions or other institutional lenders as provided below. Each such notice shall specify (i) the aggregate amount of the Incremental Revolving Term Commitments under Section 3.16, and being requested (which shall be in minimum increments of $1,000,000 and a minimum amount of $10,000,000 (or such lesser amount equal to the remaining Incremental Term Loan CommitmentsAmount). Each such notice shall specify , (iii) the date (each, a an Term Loan Increase Effective Date”) on which the Borrower proposes that the Incremental Term Loan Commitment Commitments shall be effective, which shall be a date not less than three (3) 10 Business Days after the date on which such notice is delivered to the Administrative Agent and (iiiii) the identity of each Person (which, if not a Lender, an Approved Fund or an Affiliate of a Lender, shall be reasonably satisfactory to the Administrative Agent (such acceptance not to be unreasonably withheld or delayed)) Eligible Assignee to whom the Borrower proposes any portion of such Incremental Term Loan Commitment Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the Incremental Term Commitments may elect or decline, in its sole discretion, to provide such Incremental Term Commitment.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Key Energy Services Inc)

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