Common use of Increase of Loan Amount Clause in Contracts

Increase of Loan Amount. At any time from and including the Closing Date to and including the last day of the Commitment Period, provided that there does not exist any Default or Event of Default that is continuing, the Loan Amount may be increased, subject to Section 2.1, upon the Borrower’s request, up to an aggregate principal amount at any time outstanding not to exceed Two Hundred Million and 00/100 Dollars ($200,000,000) (the “Maximum Loan Amount”), provided that if Commitments are unavailable for the full amount of the Maximum Loan Amount, the Loan Amount and the principal amount of the Loan shall increase to the lesser amount for which Commitments are available. Any increase contemplated under this Section 2.3 shall be effective only upon the Administrative Agent’s receipt of a fully-executed Lender Supplement in substantially the form of Exhibit C attached hereto. If the Loan Amount (a) is equal to or less than One Hundred Million and 00/100 Dollars ($100,000,000), such Lender Supplement shall be executed by at least the Administrative Agent (and the Administrative Agent’s execution of such Lender Supplement shall not be unreasonably withheld, conditioned or delayed), the Borrower and the Lenders providing additional Commitments pursuant thereto (including each new Lender) and (b) exceeds One Hundred Million and 00/100 Dollars ($100,000,000), executed by the Administrative Agent, the Borrower, Required Lenders and to the extent not included in Required Lenders and still a Lender at such time, each Initial Lender; provided that, in case of either clause (a) or (b) above, the Administrative Agent consents (such consent not to be unreasonably withheld, conditioned or delayed) to any proposed new Lender providing additional Commitments pursuant to such increase. No Lender is required to provide any such increase. Each such increase and other Loan provided hereunder shall be either a Tranche A Loan or a Tranche B Loan with an All-in Yield not exceeding the All-in Yield for the Tranche A Loans; provided that if the All-in Yield for the Tranche A Loans is increased then the All-in Yield for the Tranche B Loans may be increased to an amount not exceeding the All-in Yield for the Tranche A Loans. For the avoidance of doubt, the Applicable Maturity Date for the Tranche A Loans may not be extended without the prior written consent of all Lenders holding Tranche A Loans. This paragraph may not be amended without the prior written consent of all Lenders holding Tranche A Loans.

Appears in 2 contracts

Samples: Senior Secured Term Loan Agreement (Cresco Labs Inc.), Senior Secured Term Loan Agreement (Cresco Labs Inc.)

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Increase of Loan Amount. At any time from and including the Closing Date to and including the last day of the Commitment Period, provided that there does not exist any Default or Event of Default that is continuing, the Loan Amount may be increased, subject to Section 2.1, upon the Borrower’s request, up to an aggregate principal amount at any time outstanding not to exceed Two Hundred Million and 00/100 Dollars ($200,000,000) (the “Maximum Loan Amount”), provided that if Commitments are unavailable for the full amount of the Maximum Loan Amount, the Loan Amount and the principal amount of the Loan shall increase to the lesser amount for which Commitments are available. Any increase contemplated under this Section 2.3 shall be effective only upon the Administrative Agent’s receipt of a fully-executed Lender Supplement in substantially the form of Exhibit C attached hereto. If the Loan Amount (a) is equal to or less than One Hundred Million and 00/100 Dollars ($100,000,000), such Lender Supplement shall be executed by at least the Administrative Agent (and the Administrative Agent’s execution of such Lender Supplement shall not be unreasonably withheld, conditioned or delayed), the Borrower and the Lenders providing additional Commitments pursuant thereto (including each new Lender) and (b) exceeds One Hundred Million and 00/100 Dollars ($100,000,000), executed by the Administrative Agent, the Borrower, Required Lenders and to the extent not included in Required Lenders and still a Lender at such time, each Initial Lender; provided that, in case of either clause (a) or (b) above, the Administrative Agent consents (such consent not to be unreasonably withheld, conditioned or delayed) to any proposed new Lender providing additional Commitments pursuant to such increase. No Lender is required to provide any such increase. Each such increase and other Loan provided hereunder shall be either a Tranche A Loan or a Tranche B Loan with an All-in Yield not exceeding the All-in Yield for the Tranche A Loans; provided that if the All-in Yield for the Tranche A Loans is increased then the All-in Yield for the Tranche B Loans may be increased to an amount not exceeding the All-in Yield for the Tranche A Loans. For the avoidance of doubt, the Applicable Maturity Date for the Tranche A Loans may not be extended without the prior written consent of all Lenders holding Tranche A Loans. This paragraph may not be amended without the prior written consent of all Lenders holding Tranche A Loans.or‌

Appears in 1 contract

Samples: Senior Secured Term Loan Agreement

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Increase of Loan Amount. At any time from and including the Closing Date to and including the last day of the Commitment Period, provided that there does not exist any Default or Event of Default that is continuing, the Loan Amount may be increased, subject to Section 2.1, upon the Borrower’s request, up to an aggregate principal amount at any time outstanding not to exceed Two Hundred Million and 00/100 Dollars ($200,000,000) (the “Maximum Loan Amount”), provided that if Commitments are unavailable for the full amount of the Maximum Loan Amount, the Loan Amount and the principal amount of the Loan shall increase to the lesser amount for which Commitments are available. Any increase contemplated under this Section 2.3 shall be effective only upon the Administrative Agent’s receipt of a fully-executed Lender Supplement in substantially the form of Exhibit C attached hereto. If the Loan Amount (a) is equal to or less than One Hundred Million and 00/100 Dollars ($100,000,000), such Lender Supplement shall be executed by at least the Administrative Agent (and the Administrative Agent’s execution of such Lender Supplement shall not be unreasonably withheld, conditioned or delayed), the Borrower and the Lenders providing additional Commitments pursuant thereto (including each new Lender) and (b) exceeds One Hundred Million and 00/100 Dollars ($100,000,000), executed by the Administrative Agent, the Borrower, Required Lenders and to the extent not included in Required Lenders and still a Lender at such time, each Initial Lender; provided that, in case of either clause (a) or (b) above, the Administrative Agent consents (such consent not to be unreasonably withheld, conditioned or delayed) to any proposed new Lender providing additional Commitments pursuant to such increase. No Lender is required to provide any such increase. Each such increase and other Loan provided hereunder shall be either a Tranche A Loan or a Tranche B Loan with an All-in Yield not exceeding the All-in Yield for the Tranche A Loans; provided that if the All-in Yield for the Tranche A Loans is increased then the All-in Yield for the Tranche B Loans may be increased to an amount not exceeding the All-in Yield for the Tranche A Loans. For the avoidance of doubt, the Applicable Maturity Date for the Tranche A Loans may not be extended without the prior written consent of all Lenders holding Tranche A Loans. This paragraph may not be amended without the prior written consent of all Lenders holding Tranche A Loans.or

Appears in 1 contract

Samples: Senior Secured Term Loan Agreement

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