Common use of Conditions to Effectiveness of Facility Increase Clause in Contracts

Conditions to Effectiveness of Facility Increase. The following are conditions precedent to the effectiveness of any Facility Increase: (i) Borrower shall have delivered to Lenders a Facility Increase Request which shall specify the Invited Lenders; (ii) Borrower shall have, as applicable, executed: (A) if requested, a new Note payable to the order of each Subsequent Lender; or (B) a replacement Note payable to the order of each Increasing Lender; (iii) After giving effect to the Facility Increase, the Aggregate Commitment will not exceed $5,000,000; (iv) No Event of Default or Default shall have occurred and be continuing as of the Increase Effective Date, or immediately after giving effect to the related Facility Increase; (v) As of the Increase Effective Date, the representations and warranties contained in SECTION 5 and in each other Loan Document are true and correct in all material respects, with the same force and effect as if made on and as of such date; except to the extent that such representations and warranties specifically refer to any earlier date, in which case they were true and correct in all material respects as of such earlier date; and (vi) On the applicable Increase Effective Date (x) one or more Increasing Lenders has provided an increased Commitment, or (y) one or more Subsequent Lenders shall have joined this Agreement in accordance with Section 0, to provide Commitments in the aggregate sufficient to support the requested Facility Increase.

Conditions to Effectiveness of Facility Increase. The following are conditions As a condition precedent to the effectiveness of any Facility Increase: (i) , the Borrower Representative shall have delivered to Lenders a Facility Increase Request which shall specify the Invited Lenders; (ii) Borrower shall have, as applicable, executed: (A) if requested, a new Note payable deliver to the order Administrative Agent one or more certificates dated as of the Increase Effective Date duly executed by an Authorized Officer of the Borrower Representative or the applicable Loan Parties (a) certifying and attaching the resolutions adopted by each Subsequent Lender; applicable Loan Party approving or consenting to such Facility Increase, and (Bb) a replacement Note payable to the order of each Increasing Lender; (iii) After certifying that, after giving effect pro forma effect to the such Facility Increase, the Aggregate Commitment Borrowers are in compliance with financial covenants set forth in Sections 6.12, 6.13 and 6.14 (assuming (x) that the entire amount of such Facility Increase is funded and (y) that the cash proceeds of such Facility Increase will not exceed $5,000,000; be excluded for netting purposes and for purposes of determining Consolidated Current Assets in such determination of pro forma compliance with the financial covenants under Section 6.14) as of the most recently ended fiscal month for which financial statements have been or were required to be delivered pursuant to Section 5.09.2, (ivii) No no Default or Event of Default or Default shall have occurred and be continuing as of the Increase Effective Datecontinuing, or immediately after giving effect to the related Facility Increase; and (viii) As of the Increase Effective Date, the representations and warranties contained in SECTION 5 this Agreement and in each the other Loan Document are true and correct in all material respects, with the same force and effect as if made on and as of such date; except to the extent that such representations and warranties specifically refer to any earlier date, in which case they were Credit Documents shall be true and correct in all material respects as of such earlier date; and (vi) On or in all respects to the applicable Increase Effective Date (x) one extent that any representation or more Increasing Lenders has provided an increased Commitmentwarranty is qualified by materiality). With respect to any Facility Increase, or (y) one or more Subsequent Lenders all conditions precedent set forth in 4.02 hereof shall have joined this Agreement been satisfied. The proceeds of any Revolving Credit Increases shall be used for the purposes set forth in accordance with Section 0, to provide Commitments 6.10. The proceeds of Floor Plan Increases shall be used only as set forth in the aggregate sufficient to support the requested Facility IncreaseSection 2.01.12.

Conditions to Effectiveness of Facility Increase. The following are conditions precedent to the effectiveness of any Facility Increase: (i) Borrower shall have delivered to Lenders a Facility Increase Request which shall specify the Invited Lenders; (ii) Borrower shall have, as applicable, executed: (A) if requested, a new Note payable to the order of each Subsequent Lender; or (B) a replacement Note payable to the order of each Increasing Lender; (iii) After giving effect to the Facility Increase, the Aggregate Commitment will not exceed $5,000,000; (iv) No Event of Default or Default shall have occurred and be continuing as of the Increase Effective Date, or immediately after giving effect to the related Facility Increase; (v) As of the Increase Effective Date, the representations and warranties contained in SECTION 5 and in each other Loan Document are true and correct in all material respects, with the same force and effect as if made on and as of such date; except to the extent that such representations and warranties specifically refer to any earlier date, in which case they were true and correct in all material respects as of such earlier date; and (vi) On the applicable Increase Effective Date (x) one or more Increasing Lenders has provided an increased Commitment, or (y) one or more Subsequent Lenders shall have joined this Agreement in accordance with Section 010.18, to provide Commitments in the aggregate sufficient to support the requested Facility Increase.

Conditions to Effectiveness of Facility Increase. The following are conditions precedent to the effectiveness of any Facility Increase: (i) Borrower shall have delivered to Lenders a Facility Increase Request which shall specify the Invited Lenders; (ii) Borrower shall have, as applicable, executed: (A) if requested, a new Note payable to the order of each Subsequent Lender; or (B) a replacement Note payable to the order of each Increasing Lender; (iii) After giving effect to the Facility Increase, the Aggregate Commitment will not exceed $5,000,000;, subject to the potential increases set forth below; Notwithstanding the above, upon written notice to each Lender, the Aggregate Commitment amount may be increased by up to $5,000,000 with the approval of the Borrower’s board of managers and of the board of directors of Eightco Holdings Inc., Bxxxxxxx’s sole common member. (iv) No Event of Default or Default shall have occurred and be continuing as of the Increase Effective Date, or immediately after giving effect to the related Facility Increase; (v) As of the Increase Effective Date, the representations and warranties contained in SECTION 5 and in each other Loan Document are true and correct in all material respects, with the same force and effect as if made on and as of such date; except to the extent that such representations and warranties specifically refer to any earlier date, in which case they were true and correct in all material respects as of such earlier date; and (vi) On the applicable Increase Effective Date (x) one or more Increasing Lenders has provided an increased Commitment, or (y) one or more Subsequent Lenders shall have joined this Agreement in accordance with Section 010.18, to provide Commitments in the aggregate sufficient to support the requested Facility Increase.