Cashless Rollover Clause Samples
A Cashless Rollover clause allows a party to extend or renew a financial instrument, such as a loan or warrant, without the need to provide additional cash at the time of rollover. Instead of paying new funds, the value of the existing instrument is used to cover the cost of the new or extended position, often by converting accrued value or equity. This mechanism is commonly used in investment or lending agreements to facilitate seamless transitions and maintain liquidity. The core function of this clause is to enable parties to continue their financial arrangements without the immediate burden of raising new capital, thereby improving flexibility and cash flow management.
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Cashless Rollover. Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Document, to the extent that any Lender extends the maturity date of, or replaces, renews or refinances, any of its then-existing Loans with an Incremental Facility, Credit Agreement Refinancing Indebtedness or loans or notes incurred under a new credit facility, in each case, to the extent such extension, replacement, renewal or refinancing is effected by means of a “cashless roll” by such Lender, such extension, replacement, renewal or refinancing shall be deemed to comply with any requirement hereunder or any other Loan Document that such payment be made “in Dollars” (or in any other currency), “in immediately available funds”, “in cash” or any other similar requirement.
Cashless Rollover. Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Document, to the extent that any Lender extends the maturity date of, or replaces, renews or refinances, any of its then-existing Loans with Incremental Term Loans, Loans in connection with any Incremental Revolving Facility Commitments, Replacement Revolving Facility Commitments or Extended Revolving Facility Commitments, Extended Term Loans, Refinancing Term Loans, Other Term Loans, Other Revolving Loans or Replacement Revolving Loans or loans incurred under a new credit facility, in each case, to the extent such extension, replacement, renewal or refinancing is effected by means of a “cashless roll” by such Lender, such extension, replacement, renewal or refinancing shall be deemed to comply with any requirement hereunder or any other Loan Document that such payment be made “in Dollars”, “in immediately available funds”, “in Cash” or any other similar requirement.
Cashless Rollover. Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Document, to the extent that any Lender extends the maturity date of, or replaces, renews or refinances, any of its then-existing Loans with an Incremental Indebtedness, Refinancing Indebtedness, Indebtedness incurred under Section 8.10(a), or loans incurred under a new credit facility, in each case, to the extent such extension, replacement, renewal or refinancing is effected by means of a “cashless roll” by such Lender, such extension, replacement, renewal or refinancing shall be deemed to comply with any requirement hereunder or any other Loan Document that such payment be made “in Dollars”, “in immediately available funds”, “in Cash” or any other similar requirement.
Cashless Rollover. Notwithstanding anything to the contrary in this Agreement, any Lender may exchange, continue or rollover all of the portion of its Loans in connection with any refinancing, extension, loan modification or similar transaction permitted by the terms of this Agreement, pursuant to a cashless settlement mechanism approved by the Borrowers, the Administrative Agent, and such Lender.
Cashless Rollover. 9.2.1 Without prejudice to the Company’s obligation under Clause 9.1 above, if one or more Loans are to be made available to the Company:
(a) on the same day that a maturing Loan is due to be repaid by the Company;
(b) in the same currency as the maturing Loan (unless it arose as a result of the operation of Clause 7.2 (Revocation of currency); and
Cashless Rollover. Notwithstanding any other provision of this Agreement to the contrary, the aggregate amount of the Loan on the Utilisation Date shall be treated as if applied in or towards repayment of the principal amount outstanding under the Senior 364-Day Term Loan Facility Agreement so that:
(a) each Lender’s participation in the Loan shall be treated as having been made available and applied by the Borrower in or towards repayment of that Lender’s participation under the Senior 364-Day Term Loan Facility Agreement; and
(b) that Lender will not be required to make a payment under Clause 26.1 (Payments to the Facility Agent) in respect of its participation in the Loan.
Cashless Rollover. Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Document, to the extent that any Lender or its Affiliate is a lender under the Existing Credit Agreement, the refinancing of such Lender’s or such Affiliate’s applicable percentage of credit extensions under the Existing Credit Agreement shall be effected by means of a “cashless roll” (or, if necessary between Lenders and their Affiliates, deemed assignments on the Closing Date) and the Borrowers hereby agree that any requirement hereunder or under any other Loan Document to make Loans on the Closing Date in Dollars shall be satisfied by such "cashless roll” (or deemed assignments) in accordance with the Plan of Reorganization.
Cashless Rollover. Without prejudice to each Borrower’s obligation under Clause 11.1 (General), if one or more Revolving Facility Loans are to be made available to any Borrower:
(a) on the same day that a maturing Revolving Facility Loan is due to be repaid by that Borrower;
(b) in the same currency as the maturing Revolving Facility Loan (unless it arose as a result of the operation of Clause 14.2 (Unavailability of a currency); and
(c) in whole or in part for the purpose of refinancing the maturing Revolving Facility Loan, the aggregate amount of the new Revolving Facility Loans shall be treated as if applied in or towards repayment of the maturing Revolving Facility Loan so that: