Incremental Commitment Amendment Clause Samples
Incremental Commitment Amendment. Incremental Commitments shall become Commitments under this Agreement pursuant to an amendment (an “Incremental Commitment Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed by the Borrowers, the other Loan Parties, each Incremental Lender and the Administrative Agent. An Incremental Commitment Amendment may, without the consent of any Lenders, effect such amendments to any Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section (including incorporating the Incremental Term Loans and Incremental Commitments into the calculation of “Required Lenders” and related provisions).
Incremental Commitment Amendment. Any increase in Commitments pursuant to this Section 2.14 shall be effected pursuant to an amendment (an “Incremental Commitment Amendment”) to this Agreement, executed by the Loan Parties, the Lenders providing such increased Commitments (and no other Lenders) and the Administrative Agent. Any Incremental Commitment Amendment may, without the consent of any Lenders other than the Lenders providing the increased Commitments, (x) effect such amendments to any Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.14, (y) specify the interest rates and, subject to Section 2.14(a)(iv), the amortization schedule applicable to any Incremental Loans as mutually determined by the Borrower and the lenders thereunder (it being understood that no Incremental Revolving Credit Loan shall have amortization or scheduled mandatory reductions other than at maturity) and (z) in the case of Incremental Term Loans, (I) specify whether such Incremental Term Loans will share ratably in any mandatory prepayments of the Term Facility unless the Borrower and lenders thereunder agree to a less than pro rata share of such prepayments (but in no case shall such Incremental Commitment Amendment specify that such lenders thereunder shall have more than a pro rata share of such prepayments) and (II) specify that all voluntary prepayments shall be applied to the class or classes of Term Loans (including any Incremental Term Loans) as selected by the Borrower. On each Increase Effective Date, each applicable Lender, Eligible Assignee or other Person which is providing a portion of the applicable Commitment Increase under this Agreement shall become a “Lender” for all purposes of this Agreement and the other Loan Documents.
Incremental Commitment Amendment. (a) This Section 3 of this Amendment constitutes an Incremental Commitment Amendment pursuant to subsection 2.8(d) of the Existing Credit Agreement. The Borrower and the Administrative Agent hereby consent, pursuant to subsection 2.8(b) of the Existing Credit Agreement, to the inclusion as an “Additional Incremental Lender” of each New Money Lender that is not an existing Lender or an affiliate of an existing Lender.
(b) The Initial Incremental Term Loans are hereby established as and shall constitute “Incremental Loans”, the New Term Loan Lenders shall constitute “Additional Incremental Lenders”, and the Initial Incremental Term Loan Commitments are hereby established as and shall constitute “Incremental Term Loan Commitments”, in each case pursuant to subsection 2.8 of the Existing Credit Agreement. The Existing Credit Agreement is hereby amended to effect the foregoing and to provide for the funding of the Initial Incremental Term Loans, as permitted by subsection 2.8 of the Existing Credit Agreement, as follows:
(1) Subsection 1.1 of the Existing Credit Agreement is amended by adding the following new definitions, to appear in proper alphabetical order:
Incremental Commitment Amendment. Any increase in Commitments pursuant to this Section 2.14 shall be effected pursuant to an amendment (an “Incremental Commitment Amendment”) to this Agreement, executed by the Loan Parties, the Lenders providing such increased Commitments (and no other Lenders) and the Administrative Agent. Any Incremental Commitment Amendment may, without the consent of any Lenders other than the Lenders providing the increased Commitments, (x) effect such amendments to any Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.14,
Incremental Commitment Amendment. Any Incremental Commitment shall be effected by an amendment (the “Incremental Commitment Amendment”) executed by the Borrowers, the Administrative Agent and each applicable Lender. The Incremental Commitment Amendment may, without the consent of any other Lender, effect such amendments or other modifications to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.13.