Incremental Indebtedness; Additional Indebtedness Sample Clauses
The "Incremental Indebtedness; Additional Indebtedness" clause defines the conditions under which a borrower may incur new or additional debt beyond the original loan agreement. Typically, this clause outlines specific limits, approval requirements, and procedural steps that must be followed before taking on extra debt, such as obtaining lender consent or meeting certain financial ratios. Its core function is to provide flexibility for the borrower to access further financing when needed, while protecting the lender by ensuring that any increase in indebtedness does not unduly increase risk or undermine the original credit terms.
Incremental Indebtedness; Additional Indebtedness. In connection with the incurrence by any Loan Party or any Subsidiary thereof of any Incremental Indebtedness or Additional Indebtedness, each of the Administrative Agent and the Collateral Agent agree to execute and deliver amendments, waivers, supplements or other modifications to the Security Agreement, the Junior Lien Intercreditor Agreement or any Other Intercreditor Agreement or any Intercreditor Agreement Supplement and amendments, amendments and restatements, restatements or waivers of or supplements to or other modifications to, any Security Document (including but not limited to any Mortgages and UCC fixture filings), and to make or consent to any filings or take any other actions in connection therewith, as may be reasonably deemed by the Borrower to be necessary or reasonably desirable for any Lien on the assets of any Loan Party permitted to secure such Incremental Indebtedness or Additional Indebtedness to become a valid, perfected lien (with such priority as may be designated by the relevant Loan Party or Subsidiary, to the extent such priority is permitted by the Loan Documents) pursuant to the Security Document being so amended, amended and restated, restated, waived, supplemented or otherwise modified or otherwise.
Incremental Indebtedness; Additional Indebtedness. In connection with the incurrence by the Borrower or any of its Subsidiaries of any Incremental Indebtedness or Additional Obligations, each of the Administrative Agent and the Collateral Agent agrees to execute and deliver any intercreditor agreements, and any amendments, amendments and restatements, restatements or waivers of or supplements to or other modifications to, any Security Document, and to make or consent to any filings or take any other actions in connection therewith, as may be reasonably deemed by the Borrower to be necessary or reasonably desirable for any Lien on the property or assets of any Loan Party permitted to secure such Additional Obligations or Incremental Indebtedness to become a valid, perfected lien (with such priority as may be designated by the Borrower or relevant Subsidiary, to the extent such priority is permitted by the Loan Documents) pursuant to the Security Document being so amended, amended and restated, restated, waived, supplemented or otherwise modified or otherwise.
Incremental Indebtedness; Additional Indebtedness. In connection with the Incurrence by any Loan Party or any Subsidiary thereof of any Incremental Indebtedness, Specified Refinancing Indebtedness or Additional Indebtedness, each of the Administrative Agent and the Collateral Agent agree to execute and deliver the ABL Intercreditor Agreement, the Intercreditor Agreement or any Other Intercreditor Agreement or any Intercreditor Agreement Supplement, and to make or consent to any filings or take any other actions in connection therewith, as may be reasonably necessary to effectuate the intent of this Agreement.
Incremental Indebtedness; Additional Indebtedness. In connection with the incurrence by the Parent Borrower or any of its Subsidiaries of any Incremental Indebtedness or Additional Indebtedness, each of the Administrative Agent, the Canadian Agent, the Collateral Agent, and the Canadian Collateral Agent agrees to execute and deliver any Intercreditor Agreement Supplement and any amendments, amendments and restatements, restatements or waivers of or supplements to or other modifications to, any Security Document, and to make or consent to any filings or take any other actions in connection therewith, as may be reasonably deemed by the Parent Borrower to be necessary or reasonably desirable for any Lien on the property or assets of any Loan Party permitted to secure such Additional Indebtedness or Incremental Indebtedness to become a valid, perfected lien (with such priority as may be designated by the relevant Borrower or Subsidiary, to the extent such priority is permitted by the Loan Documents) pursuant to the Security Document being so amended, amended and restated, restated, waived, supplemented or otherwise modified or otherwise. Upon the Discharge of Term Collateral Obligations (as defined in the Intercreditor Agreement) all Term Priority Collateral shall be automatically released from the Liens created by any Security Document or any other Loan Document, all without delivery of any instrument or performance of any act by any party, and all rights to the Term Priority Collateral shall revert to the Loan Parties. At the request and sole expense of any Loan Party following any such termination, any applicable Agent shall deliver to such Loan Party any Term Priority Collateral held by such Agent hereunder, and each of the Administrative Agent, the Collateral Agent or the Co-Collateral Agent shall execute and deliver to such Loan Party such documents (including without limitation UCC termination statements) as such Loan Party shall reasonably request to evidence such termination.
Incremental Indebtedness; Additional Indebtedness. 197199 11.18 USA PATRIOT Act Notice. 197200 11.19 Electronic Execution of Assignments and Certain Other Documents. 197200 11.20 Reinstatement. 198201 11.21 Joint and Several Liability; Postponement of Subrogation. 199201 11.22 No Novation. 199202 11.23 Acknowledgment and Consent to Bail-in of Affected Financial Institutions. 200202