Incremental Availability Sample Clauses

Incremental Availability. Subject to the terms and conditions set forth herein, Borrowers shall have the right, at any time and from time to time prior to the Revolver Termination Date but on not more than three occasions and in minimum increments of $50,000,000 per occasion, to incur additional Indebtedness under this Agreement in the form of an increase to the Revolver Commitments (the “Incremental Revolving Facility”) by an aggregate principal amount of up to $300,000,000; provided, that no Default or Event of Default shall have occurred and be continuing. The following terms and conditions shall apply to the Incremental Revolving Facility: (i) the loans made under the Incremental Revolving Facility shall constitute Obligations and will be secured and guaranteed with the other Obligations on a pari passu basis, (ii) such Incremental Revolving Facility shall be obtained from existing Lenders or from other banks, financial institutions or investment funds, in each case in accordance with the terms set forth below, (iii) Borrowers shall execute a Note in favor of any requesting new Lender or any existing Lender requesting a Note whose Revolver Commitment is increased, (iv) Agent shall have received evidence that all requisite corporate (or equivalent) action on behalf of Obligors in connection with the Incremental Revolving Facility shall have been taken, which evidence shall be in form and substance reasonably satisfactory to Agent, and (v) Agent shall have received from Borrowers and Guarantors such other customary documentation as it deems reasonably necessary in connection with the Incremental Revolving Facility, including, without limitation, such documentation to evidence, preserve and protect the Liens granted pursuant to the Credit Documents. Participation in the Incremental Revolving Facility shall be offered first to each of the existing Lenders, but each such Lender shall have no obligation to provide all or any portion of the Incremental Revolving Facility. If the amount of the Incremental Revolving Facility requested by Borrowers shall exceed the commitments which the existing Lenders are willing to provide with respect to such Incremental Revolving Facility, then Borrowers may invite other banks, financial institutions and investment funds that satisfy clause (b) of the definition of “Eligible Assignee” or that are otherwise reasonably acceptable to Agent to join this Agreement as Lenders hereunder for the portion of such Incremental Revolving Facility not taken by ex...
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
Incremental Availability. Notwithstanding anything herein to the contrary, (i) the proceeds of such Revolving Loans made by the Tranche A-1 Lenders shall be immediately delivered by the Administrative Agent to the Swingline Lender and applied to repay a corresponding portion of the Refunded Swingline Loans and (ii) on the day such Revolving Loans are made, such portion of the Refunded Swingline Loans paid shall no longer be outstanding as Swingline Loans.
Sample 1Sample 2Sample 3
Incremental Availability. The Loan Parties and the Lenders hereby agree that the Lenders shall make arrangements as among themselves to the extent necessary (i) to effect the Specified FILO Prepayment and (ii) to cause the outstanding amount of FILO Loans to be held by the FILO Lenders in accordance with the revised FILO Commitment Percentages arising from the Requested FILO Reduction.
Sample 1
Incremental Availability. No Incremental Revolving Facility Loans made pursuant hereto may be prepaid until the aggregate principal amount of Revolving Facility Loans (other than such Incremental Revolving Facility Loans) equals $0.
Sample 1
Incremental Availability. All Tranche A Revolving Credit Loans outstanding on April 1 of each year shall be automatically converted to Incremental Revolving Loans in accordance with and to the extent required by the prior sentence, and all Incremental Revolving Credit Loans outstanding on October 2 of each year shall be automatically repaid by the making of a Tranche A Revolving Credit Loan in accordance with the prior sentence. Only Incremental Revolving Credit Loans shall bear interest at the Base Rate plus the Base Rate Margin for Incremental Revolving Credit Loans or at LIBOR plus the LIBOR Margin for Incremental Revolving Credit Loans, as applicable. In no event shall any Lender be obligated to make any Incremental Revolving Credit Loan in excess of such Lender’s Incremental Revolving Loan Commitment.”
Sample 1
Incremental Availability. The additional amount available to be borrowed by the Borrowers based upon the difference between the Last Out Borrowing Base and the Aggregate Borrowing Base, as reflected on the most recent Borrowing Base Report delivered by the Borrowers to the Administrative Agent pursuant to Section 8.4(e) hereof.
Sample 1
Incremental Availability 
Sample 1
AutoNDA by SimpleDocs

Related to Incremental Availability

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from June 24, 2016 through and including July 7, 2016, $10,000,000, (ii) as of any date of determination during the period from July 8, 2016 through and including September 29, 2016, $17,500,000, and (iii) as of any date of during the period from September 30, 2016 through and including December 31, 2016, $20,000,000.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Available Commitment After giving effect to the proposed Borrowing, the Principal Obligations will not exceed the Available Commitment and the aggregate Principal Obligations will not exceed the Maximum Commitment.

  • Incremental Revolving Commitments (a) The Borrower may on one or more occasions, by written notice to the Administrative Agent, request during the Revolving Commitment Period the establishment of Incremental Revolving Commitments, provided that the aggregate amount of all the Incremental Revolving Commitments to be established hereunder on any date shall not exceed the Incremental Amount as of such date. Each such notice shall specify (i) the date on which the Borrower proposes that the Incremental Revolving Commitments shall be effective, which shall be a date not less than 10 Business Days (or such shorter period as may be agreed to by the Administrative Agent) after the date on which such notice is delivered to the Administrative Agent, (ii) the amount of the Incremental Revolving Commitments being requested (which shall be an amount not less than $5,000,000) and (iii) the identity of each Person proposed to become an Incremental Revolving Lender in connection therewith (it being agreed that (x) any Lender approached to provide any Incremental Revolving Commitment may elect or decline, in its sole discretion, to provide such Incremental Revolving Commitment and (y) any Person that the Borrower proposes to become an Incremental Revolving Lender, if such Person is not then a Lender, must be an Eligible Assignee and, if such approval would then be required under Section 10.6(c) for an assignment to such Person of a Commitment or Loan, must be approved by the Administrative Agent, each Issuing Bank and the Swing Line Lender (such approval not to be unreasonably withheld or delayed)).

  • Revolving Commitment Increase (a) Notwithstanding anything to the contrary in Section 12.1, subject to the terms and conditions set forth herein, the Borrower shall have the right from time to time, to cause an increase in the Revolving Commitments of the Revolving Lenders (a “Revolving Commitment Increase”) by adding to this Agreement one or more additional Eligible Assignees that are not already Revolving Lenders hereunder and that are reasonably satisfactory to the Administrative Agent, each Facing Agent and the Swing Line Lender (each, a “New Revolving Lender”) or by allowing one or more existing Revolving Lenders to increase their respective Revolving Commitments; provided that (i) both before and immediately after giving effect to such Revolving Commitment Increase, no Event of Default or Unmatured Event of Default shall have occurred and be continuing as of the effective date of such Revolving Commitment Increase (such date, the “Revolving Commitment Increase Date”), (ii) no such Revolving Commitment Increase shall be in an amount less than $10,000,000 (unless the aggregate amount of the Revolving Commitments then in effect is greater than $390,000,000), (iii) after giving effect to such Revolving Commitment Increase, the aggregate amount of the Revolving Commitments shall not exceed $600,000,000, (iv) no Revolving Lender’s Revolving Commitment shall be increased without such Revolving Lender’s prior written consent (which consent may be given or withheld in such Revolving Lender’s sole and absolute discretion) and (v) the only Revolving Commitment Increase that may occur on or after the Tenth Amendment Effective Date is a single Revolving Commitment Increase in an aggregate amount not exceeding $200,000,000 on (and subject to the occurrence of) the Eleventh Amendment Effective Date. The foregoing clause (i) and the following Section 2.10(b) and Section 2.10(e) shall not be applicable to the 2014 Revolving Commitment Increase and the only conditions to the 2014 Revolving Commitment Increase shall be those conditions set forth in Section 4 of the Eleventh Amendment.

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.