Incremental Amendment to Credit Agreement. (a) Subject to the terms and conditions set forth herein and the occurrence of the Third Amendment Effective Date (as defined below), each Revolving Commitment Increase Lender hereby agrees to provide an Incremental Revolving Credit Commitment in the amount set forth opposite its name under the column entitled “Revolver Increase as of the Third Amendment Effective Date” on Schedule I attached hereto (each, a “2012 Incremental Revolving Credit Commitment”). The parties hereby agree that on the Third Amendment Effective Date, (A) the 2012 Incremental Revolving Credit Commitment of DBCI shall be added to (and thereafter become a part of) the “Revolving Credit Commitment” of such Revolving Commitment Increase Lender for all purposes of the Credit Agreement and the other Loan Documents, (B) each of BofA and WF shall become a “Revolving Credit Lender” for all purposes of the Credit Agreement and the other Loan Documents, and the 2012 Incremental Revolving Credit Commitment of each such Revolving Commitment Increase Lender shall become a “Revolving Credit Commitment” for all purposes of the Credit Agreement and the other Loan Documents, (C) after giving effect to the increase in the Revolving Credit Commitment of each Revolving Commitment Increase Lender pursuant to this Section 1(a), (i) the Aggregate Commitments shall increase by the aggregate amount of the increases in the Revolving Credit Commitments of the Revolving Commitment Increase Lenders effected hereby and (ii) each Revolving Credit Lender will automatically and without further act be deemed to have assigned to each Revolving Commitment Increase Lender, and each such Revolving Commitment Increase Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Credit Lender's participations under the Credit Agreement in outstanding Letters of Credit and Swing Line Loans such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding (x) participations under the Credit Agreement in Letters of Credit and (y) participations under the Credit Agreement in Swing Line Loans held by each Revolving Credit Lender (including each such Revolving Commitment Increase Lender) will equal the percentage of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders represented by such Revolving Credit Lender's Revolving Credit Commitment, (D) if there are any Revolving Credit Loans then outstanding, the Borrower shall, in coordination with the Administrative Agent, repay outstanding Revolving Credit Loans of certain of the Revolving Credit Lenders, and incur additional Revolving Credit Loans from certain other Revolving Credit Lenders (including the Revolving Commitment Increase Lenders), in each case to the extent necessary so that all of the Revolving Credit Lenders participate in each outstanding Borrowing of Revolving Credit Loans in accordance with their respective Pro Rata Share (after giving effect to any increase in the Aggregate Commitments pursuant to this Section 1(a)), with the Borrower being obligated to pay to the respective Revolving Credit Lenders any costs of the type referred to in Section 3.05 of the Credit Agreement in connection with any such repayment and/or Borrowing, and (E) promptly after each Revolving Commitment Increase Lender's Revolving Credit Commitment is increased by operation of this Section 1(a), the Borrower shall deliver to it, upon its request, a Revolving Credit Note or replacement Revolving Credit Note, as applicable, in the amount of such Revolving Commitment Increase Lender's Revolving Credit Commitment after giving effect to the increase thereof. (b) The 2012 Incremental Revolving Credit Commitments provided pursuant to Section 1(a) above and all related Revolving Credit Exposure shall be subject to the same Applicable Rate, prepayment provisions, Maturity Date and other terms and conditions applicable to the Revolving Credit Commitments and Revolving Credit Loans (and related Revolving Credit Exposure) under the Credit Agreement and the other Loan Documents and, in the case of such Revolving Credit Exposure, shall constitute “Revolving Obligations” for all purposes of the Credit Agreement and the Loan Documents (including, without limitation, Section 8.04 of the Credit Agreement). (c) BofA hereby (A) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to become a Lender and Revolving Credit Lender under the Credit Agreement, (ii) from and after the Third Amendment Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of its 2012 Incremental Revolving Credit Commitment, shall have the obligations of a Lender thereunder and (iii) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 6.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Third Amendment and to provide its 2012 Incremental Revolving Credit Commitment on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, (B) agrees that (i) it will, independently and without reliance on the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it is joining the Credit Agreement as a Lender for all purposes and will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender and (C) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto.
Appears in 1 contract
Incremental Amendment to Credit Agreement. On the Amendment No. 4 Effective Date, subject to the satisfaction or waiver of the conditions set forth in Section 3 hereof, the Loan Parties, the Administrative Agent, each of the Existing Lenders party hereto and each of the 2021 Delayed Draw Term Lenders hereby agree to the amendments of the Credit Agreement as set forth below (the Credit Agreement after giving effect to amendments in this Section 1, the “Amended Credit Agreement”):
(a) Subject The Credit Agreement is hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the pages of the Amended Credit Agreement attached as Annex A hereto.
(b) Schedule 1.1A to the terms Credit Agreement is hereby deleted and conditions set forth herein and the occurrence replaced with Schedule 1.1A attached as Exhibit 1 hereto.
(c) Each 2021 Delayed Draw Term Lender shall have an Incremental Term Commitment in respect of the Third Amendment Effective Date (as defined below), each Revolving Commitment Increase Lender hereby agrees to provide an Incremental Revolving Credit Commitment 2021 Delayed Draw Term Loans in the amount set forth opposite its name under the column entitled “Revolver Increase as on Schedule 1.1A of the Third Amendment Effective Date” on Schedule I attached hereto Credit Agreement (eachsuch commitment, a the “2012 Incremental Revolving Credit Commitment2021 Delayed Draw Term Commitments”). The parties hereby agree that With effect on and after the Third Amendment No. 4 Effective Date, (A) the 2012 Incremental Revolving Credit Commitment of DBCI shall be added to (and thereafter become a part of) the “Revolving Credit Commitment” of such Revolving Commitment Increase Lender for all purposes of the Credit Agreement and the other Loan Documents, (Bi) each of BofA and WF 2021 Delayed Draw Term Lender shall become constitute a “Revolving Credit Term Lender” for all purposes of the Credit Agreement and the other Loan Documents, and the 2012 Incremental Revolving Credit Commitment of each such Revolving Commitment Increase Lender shall become a “Revolving Credit CommitmentLender” for all purposes of the Credit Agreement and the other Loan Documents, (C) after giving effect to the increase in the Revolving Credit Commitment of each Revolving Commitment Increase Lender pursuant to this Section 1(a), (i) the Aggregate Commitments shall increase by the aggregate amount of the increases in the Revolving Credit Commitments of the Revolving Commitment Increase Lenders effected hereby and (ii) each Revolving Credit Lender will automatically and without further act be deemed to have assigned to each Revolving Commitment Increase Lender, and each such Revolving Commitment Increase Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Credit Lender's participations under the Credit Agreement in outstanding Letters of Credit and Swing Line Loans such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding (x) participations under the Credit Agreement in Letters of Credit and (y) participations under the Credit Agreement in Swing Line Loans held by each Revolving Credit Lender (including each such Revolving Commitment Increase Lender) will equal the percentage of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders represented by such Revolving Credit Lender's Revolving Credit Commitment, (D) if there are any Revolving Credit Loans then outstanding, the Borrower shall, in coordination with the Administrative Agent, repay outstanding Revolving Credit Loans of certain of the Revolving Credit Lenders, and incur additional Revolving Credit Loans from certain other Revolving Credit Lenders (including the Revolving Commitment Increase Lenders), in each case to the extent necessary so that all of the Revolving Credit Lenders participate in each outstanding Borrowing of Revolving Credit Loans in accordance with their respective Pro Rata Share (after giving effect to any increase in the Aggregate Commitments pursuant to this Section 1(a)), with the Borrower being obligated to pay to the respective Revolving Credit Lenders any costs of the type referred to in Section 3.05 of the Credit Agreement in connection with any such repayment and/or Borrowing, and (E) promptly after each Revolving Commitment Increase Lender's Revolving Credit Commitment is increased by operation of this Section 1(a), the Borrower shall deliver to it, upon its request, a Revolving Credit Note or replacement Revolving Credit Note, as applicable, in the amount of such Revolving Commitment Increase Lender's Revolving Credit Commitment after giving effect to the increase thereof.
(b) The 2012 Incremental Revolving Credit Commitments provided pursuant to Section 1(a) above and all related Revolving Credit Exposure shall be subject to the same Applicable Rate, prepayment provisions, Maturity Date and other terms and conditions applicable to the Revolving Credit Commitments and Revolving Credit Loans (and related Revolving Credit Exposure) under the Amended Credit Agreement and the other Loan Documents andand shall have all the rights and obligations of a Lender holding a 2021 Delayed Draw Term Commitment, in (ii) the case of such Revolving Credit Exposure, 2021 Incremental Delayed Draw Term Loans shall constitute “Revolving ObligationsTerm Loans”, “Loans” and “Incremental Term Loans” (except where context otherwise requires) for all purposes of the Amended Credit Agreement and (iii) the 2021 Delayed Draw Term Commitments shall constitute “Term Commitments”, “Incremental Term Commitments” and “Commitments” for all purposes of the Credit Agreement and the Loan Documents (including, without limitation, Section 8.04 of the Amended Credit Agreement).
(c) BofA hereby (A) represents . For the avoidance of doubt, the 2021 Delayed Draw Term Loans shall constitute a separate Class from the Initial Term Loans made on the Amendment and warrants that (i) it has full power and authority, and has taken all action necessary, to become a Lender and Revolving Credit Lender under the Credit Agreement, (ii) from and after the Third Amendment Restatement Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of its 2012 Incremental Revolving Credit Commitment, shall have the obligations of a Lender thereunder and (iii) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 6.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Third Amendment and to provide its 2012 Incremental Revolving Credit Commitment on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, (B) agrees that (i) it will, independently and without reliance on the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it is joining the Credit Agreement as a Lender for all purposes and will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender and (C) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto.
Appears in 1 contract
Samples: Credit Agreement (Tempur Sealy International, Inc.)
Incremental Amendment to Credit Agreement. (a) Subject to On the terms and conditions set forth herein and the occurrence of the Third Amendment No. 3 Effective Date (as defined below), subject to the satisfaction or waiver by the Administrative Agent and each Revolving 2024 Term B Lender of the conditions set forth in Section 3 hereof, the Loan Parties, the Administrative Agent and each of the 2024 Term B Lenders hereby agree to the amendments of the Credit Agreement as set forth below (the Credit Agreement after giving effect to amendments in this Section 1, the “Amended Credit Agreement”):
(a) The Credit Agreement is hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the pages of the Amended Credit Agreement attached as Annex A hereto.
(b) (x) Schedule 1.1A to the Credit Agreement is hereby deleted and replaced with Schedule 1.1A attached as Exhibit 1 hereto and (y) Exhibit B to the Credit Agreement is hereby deleted and replaced with Exhibit B attached as Exhibit 2 hereto.
(c) Each 2024 Term B Lender shall have a 2024 Term B Commitment Increase Lender hereby agrees to provide an Incremental Revolving Credit Commitment in respect of the 2024 Term B Loans in the amount set forth opposite its name under the column entitled “Revolver Increase as on Schedule 1.1A of the Third Amended Credit Agreement. With effect on and after the Amendment Effective Date” on Schedule I attached hereto (each, a “2012 Incremental Revolving Credit Commitment”)No. The parties hereby agree that on the Third Amendment 3 Effective Date, (Ai) each 2024 Term B Lender shall constitute a “Term Lender” and “Lender” under the Amended Credit Agreement and the other Loan Documents and shall have all the rights and obligations of a Lender holding a 2024 Term B Commitment, (ii) the 2012 2024 Term B Loans shall constitute “Term Loans”, “Loans” and “Incremental Revolving Credit Commitment of DBCI shall be added to Term Loans” (and thereafter become a part ofexcept where context otherwise requires) the “Revolving Credit Commitment” of such Revolving Commitment Increase Lender for all purposes of the Amended Credit Agreement and the other Loan Documents and (iii) the 2024 Term B Commitments shall constitute “Term Commitments”, “Incremental Term Commitments” and “Commitments” for all purposes of the Amended Credit Agreement and the other Loan Documents. For the avoidance of doubt, (B) each of BofA and WF the 2024 Term B Commitments shall become constitute a “Revolving Credit Lender” for all purposes of separate Class from the Credit Agreement Initial Term A Commitments and the other Loan Documents, 2024 Delayed Draw Term A Commitments and the 2012 Incremental Revolving Credit Commitment of each such Revolving Commitment Increase Lender 2024 Term B Loans shall become constitute a “Revolving Credit Commitment” for all purposes of separate Class from the Credit Agreement and the other Loan DocumentsInitial Term A Loans and, (C) after giving effect to the increase in the Revolving Credit Commitment of each Revolving Commitment Increase Lender pursuant to this Section 1(a), (i) the Aggregate Commitments shall increase by the aggregate amount of the increases in the Revolving Credit Commitments of the Revolving Commitment Increase Lenders effected hereby and (ii) each Revolving Credit Lender will automatically and without further act be deemed to have assigned to each Revolving Commitment Increase Lender, and each such Revolving Commitment Increase Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Credit Lender's participations under the Credit Agreement in outstanding Letters of Credit and Swing Line Loans such that, after giving effect to each such deemed assignment and assumption of participationsonce funded, the percentage of the aggregate outstanding (x) participations under the Credit Agreement in Letters of Credit and (y) participations under the Credit Agreement in Swing Line Loans held by each Revolving Credit Lender (including each such Revolving Commitment Increase Lender) will equal the percentage of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders represented by such Revolving Credit Lender's Revolving Credit Commitment, (D) if there are any Revolving Credit Loans then outstanding, the Borrower shall, in coordination with the Administrative Agent, repay outstanding Revolving Credit Loans of certain of the Revolving Credit Lenders, and incur additional Revolving Credit Loans from certain other Revolving Credit Lenders (including the Revolving Commitment Increase Lenders), in each case to the extent necessary so that all of the Revolving Credit Lenders participate in each outstanding Borrowing of Revolving Credit Loans in accordance with their respective Pro Rata Share (after giving effect to any increase in the Aggregate Commitments pursuant to this Section 1(a)), with the Borrower being obligated to pay to the respective Revolving Credit Lenders any costs of the type referred to in Section 3.05 of the Credit Agreement in connection with any such repayment and/or Borrowing, and (E) promptly after each Revolving Commitment Increase Lender's Revolving Credit Commitment is increased by operation of this Section 1(a), the Borrower shall deliver to it, upon its request, a Revolving Credit Note or replacement Revolving Credit Note, as applicable, in the amount of such Revolving Commitment Increase Lender's Revolving Credit Commitment after giving effect to the increase thereof2024 Delayed Draw Term A Loans.
(bd) The 2012 Incremental Revolving Credit 2024 Term B Commitments provided pursuant to Section 1(a) above and all related Revolving Credit Exposure for hereunder shall be subject to terminate immediately upon the same Applicable Rate, prepayment provisions, Maturity Date and other terms and conditions applicable to the Revolving Credit Commitments and Revolving Credit Loans (and related Revolving Credit Exposure) under the Credit Agreement and the other Loan Documents and, in the case of such Revolving Credit Exposure, shall constitute “Revolving Obligations” for all purposes funding of the Credit Agreement and the Loan Documents (including, without limitation, Section 8.04 proceeds of the Credit Agreement)2024 Term B Loans into the Escrow Account on the Amendment No. 3 Effective Date.
(ce) BofA hereby (A) represents and warrants that (i) it has full power and authorityAs used in any other Loan Document, and has taken all action necessary, references to become a Lender and Revolving Credit Lender under the “Credit Agreement” in such Loan Document shall, (ii) from and after unless the Third Amendment Effective Datecontext otherwise requires, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, mean or refer to the extent of its 2012 Incremental Revolving Credit Commitment, shall have the obligations of a Lender thereunder and (iii) it has received a copy of the Amended Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 6.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Third Amendment and to provide its 2012 Incremental Revolving Credit Commitment on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender, (B) agrees that (i) it will, independently and without reliance on the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it is joining the Credit Agreement as a Lender for all purposes and will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender and (C) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto.
Appears in 1 contract
Samples: Credit Agreement (Tempur Sealy International, Inc.)
Incremental Amendment to Credit Agreement. Immediately following the General Amendment Effective Time, subject to the satisfaction or waiver of the conditions set forth in Section 4 hereof, the Loan Parties, the Administrative Agent and each of the 2020 Term Lenders hereby agree to the amendments of the Credit Agreement as set forth below (the Credit Agreement after giving effect to amendments in Section 1 and this Section 2, the “Amended Credit Agreement”):
(a) Subject to the terms and conditions set forth herein and the occurrence The Credit Agreement is, effective as of the Third Amendment No. 1 Effective Date (as defined below), hereby further amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the pages of the Amended Credit Agreement attached as Annex B hereto to the extent not already amended pursuant to Section 1. For the avoidance of doubt, the pages of the Amended Credit Agreement attached as Annex B shall incorporate amendments made pursuant to Section 1 and this Section 2.
(b) Schedule 1.1A to the Credit Agreement is hereby deleted and replaced with Schedule 1.1A attached as Exhibit 1 hereto.
(c) On the Amendment No. 1 Effective Date, subject to the satisfaction of the conditions set forth in Section 4 below, each Revolving Commitment Increase 2020 Term Lender hereby agrees to provide shall have an Incremental Revolving Credit Commitment in respect of the 2020 Term Loans in the amount set forth opposite its name under the column entitled “Revolver Increase as on Schedule 1.1A of the Third Amendment Effective Date” on Schedule I attached hereto Credit Agreement (eachsuch Incremental Commitment, a “2012 Incremental Revolving Credit 2020 Term Commitment”)) and the 2020 Term Lenders shall make the 2020 Term Loans to the applicable Borrower in accordance with this Section 2 by delivering to the applicable Borrower immediately available funds in an amount equal to its 2020 Term Commitment. The parties hereby agree that With effect on and after the Third Amendment No. 1 Effective Date, (Ai) the 2012 Incremental Revolving Credit Commitment of DBCI each 2020 Term Lender shall be added to (and thereafter become a part of) the “Revolving Credit Commitment” of such Revolving Commitment Increase Lender for have all purposes of the rights and obligations of a “Lender”, “Term Lender” and a “2020 Term Lender” under the Amended Credit Agreement and the other Loan Documents, (Bii) each of BofA the 2020 Term Loans shall constitute “Term Loans”, “Loans”, “2020 Term Loans”, “Specified Incremental Loans” and WF shall become a “Revolving Credit LenderIncremental Term Loans” (except where context otherwise requires) for all purposes of the Amended Credit Agreement and (iii) the other Loan Documents2020 Term Commitment shall constitute an “Term Commitment”, and the 2012 Incremental Revolving Credit Commitment of each such Revolving Commitment Increase Lender shall become a “Revolving Credit Commitment” and a “2020 Term Commitment” for all purposes of the Amended Credit Agreement and the other Loan Documents, (C) after giving effect to the increase in the Revolving Credit Commitment of each Revolving Commitment Increase Lender pursuant to this Section 1(a), (i) the Aggregate Commitments shall increase by the aggregate amount of the increases in the Revolving Credit Commitments of the Revolving Commitment Increase Lenders effected hereby and (ii) each Revolving Credit Lender will automatically and without further act be deemed to have assigned to each Revolving Commitment Increase Lender, and each such Revolving Commitment Increase Lender will automatically and without further act be deemed to have assumed, a portion of such Revolving Credit Lender's participations under the Credit Agreement in outstanding Letters of Credit and Swing Line Loans such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding (x) participations under the Credit Agreement in Letters of Credit and (y) participations under the Credit Agreement in Swing Line Loans held by each Revolving Credit Lender (including each such Revolving Commitment Increase Lender) will equal the percentage of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders represented by such Revolving Credit Lender's Revolving Credit Commitment, (D) if there are any Revolving Credit Loans then outstanding, the Borrower shall, in coordination with the Administrative Agent, repay outstanding Revolving Credit Loans of certain of the Revolving Credit Lenders, and incur additional Revolving Credit Loans from certain other Revolving Credit Lenders (including the Revolving Commitment Increase Lenders), in each case to the extent necessary so that all of the Revolving Credit Lenders participate in each outstanding Borrowing of Revolving Credit Loans in accordance with their respective Pro Rata Share (after giving effect to any increase in the Aggregate Commitments pursuant to this Section 1(a)), with the Borrower being obligated to pay to the respective Revolving Credit Lenders any costs of the type referred to in Section 3.05 of the Credit Agreement in connection with any such repayment and/or Borrowing, and (E) promptly after each Revolving Commitment Increase Lender's Revolving Credit Commitment is increased by operation of this Section 1(a), the Borrower shall deliver to it, upon its request, a Revolving Credit Note or replacement Revolving Credit Note, as applicable, in the amount of such Revolving Commitment Increase Lender's Revolving Credit Commitment after giving effect to the increase thereofAgreement.
(bd) The 2012 Incremental Revolving Credit Commitments 2020 Term Commitment provided pursuant to Section 1(a) above and all related Revolving Credit Exposure for hereunder shall be subject to terminate on the same Applicable Rate, prepayment provisions, Maturity Amendment No. 1 Effective Date and other terms and conditions applicable to immediately upon the Revolving Credit Commitments and Revolving Credit Loans (and related Revolving Credit Exposure) under the Credit Agreement and the other Loan Documents and, in the case of such Revolving Credit Exposure, shall constitute “Revolving Obligations” for all purposes borrowing of the Credit Agreement and the Loan Documents (including, without limitation, Section 8.04 of the Credit Agreement)2020 Term Loans.
(ce) BofA hereby (A) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to become a Lender and Revolving Credit Lender under the Credit Agreement, (ii) from and after the Third Amendment Effective Date, it shall be bound by the provisions Each of the Credit Agreement as a Lender thereunder and, to the extent of its 2012 Incremental Revolving Credit Commitment, shall have the obligations of a Lender thereunder 2020 Term Lenders and (iii) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 6.01 thereof, as applicable, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Third Amendment and to provide its 2012 Incremental Revolving Credit Commitment on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lenderagree that the irrevocable notice of borrowing with respect to the 2020 Term Loans may be received no later than 1:00 p.m., (B) agrees that (i) it will, independently and without reliance on the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the New York City time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it is joining the Credit Agreement as a Lender for all purposes and will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender and (C) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated one Business Day prior to the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto.Amendment No. 1
Appears in 1 contract
Samples: Credit Agreement (Tempur Sealy International, Inc.)