Common use of Incremental Joinder Clause in Contracts

Incremental Joinder. Subject to the satisfaction of the conditions set forth in Section 4 below (provided that the Incremental Borrowing and the application of proceeds of the Tranche B-1 Term Loans shall be deemed to occur immediately prior to the Amendments): (a) Each of the Tranche B-1 Term Loan Lenders agrees (i) that it shall be considered a Lender for all purposes under the Credit Agreement and the other Credit Documents and agrees to be bound by the terms thereof and (ii) to make Tranche B-1 Term Loans to the Borrower on the Effective Date in an aggregate principal amount equal to the amount indicated on such Tranche B-1 Term Loan Lender’s signature page hereto as its Tranche B-1 Term Loan Commitment (or such lesser amount allocated to such Tranche B-1 Term Loan Lender by the Agent, as notified to such Tranche B-1 Term Loan Lender by the Agent). The aggregate principal amount of the Tranche B-1 Term Loans made under this Agreement on the Effective Date shall be $3,218,000,000. The Borrower shall use the proceeds of the Tranche B-1 Term Loans as set forth in the recitals to this Agreement. After giving effect to the application of the proceeds of the Tranche B-1 Term Loans, no Tranche B Term Loans shall remain outstanding. (b) All references in the Credit Agreement and the other Credit Documents to “Tranche B Term Loans”, “Tranche B Term Loan Lenders”, “Tranche B Term Loan Maturity Date” and “Required Tranche B Term Loan Lenders” shall be replaced with “Tranche B-1 Term Loans”, “Tranche B-1 Term Loan Lenders”, “Tranche B-1 Term Loan Maturity Date” and “Required Tranche B-1 Term Loan Lenders”, respectively. In addition, all references in the Credit Agreement and the other Credit Documents to “Tranche B Term Loan Commitments” (other than those references in the defined term “Tranche B Term Loan Commitments” in the Credit Agreement, Section 2.1(a) of the Credit Agreement and Section 4.3(a) of the Credit Agreement) shall be replaced with “Tranche B-1 Term Loan Commitments”.

Appears in 2 contracts

Samples: Amendment and Joinder Agreement, Amendment and Joinder Agreement (Intelsat S.A.)

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Incremental Joinder. Subject to the satisfaction of the conditions set forth in Section 4 5 below (provided that the Incremental Borrowing and the application of proceeds of the Tranche B-1 B-2 Term Loans shall be deemed to occur immediately prior to the Amendments): (a) Each of the Tranche B-1 B-2 Term Loan Lenders agrees (i) that it shall be considered a Lender for all purposes under the Credit Agreement and the other Credit Documents and agrees to be bound by the terms thereof and (ii) to make Tranche B-1 B-2 Term Loans to the Borrower on the Effective Date in an aggregate principal amount equal to the amount indicated on such Tranche B-1 B-2 Term Loan Lender’s signature page hereto as its Tranche B-1 B-2 Term Loan Commitment (or such lesser amount allocated to such Tranche B-1 B-2 Term Loan Lender by the Agent, as notified to such Tranche B-1 B-2 Term Loan Lender by the Agent). The aggregate principal amount of the Incremental Tranche B-1 B-2 Term Loans made under this Agreement Section 1 on the Effective Date shall be $3,218,000,000682,405,110.46. The Borrower shall use the proceeds of the Tranche B-1 B-2 Term Loans as set forth in the recitals to this Agreement. After giving effect to the application of the proceeds of the Tranche B-1 Term Loans, no Tranche B Term Loans shall remain outstanding. (b) All references in The Tranche B-2 Term Loans will be a separate Series from the Credit Agreement and the other Credit Documents to “Tranche B Term Loans”, “Tranche B Term Loan Lenders”, “Tranche B Term Loan Maturity Date” and “Required Tranche B Term Loan Lenders” shall be replaced with “existing Tranche B-1 Term Loans”, “Loans outstanding prior to the Effective Date. The terms and provisions of the Tranche B-2 Term Loans shall be as set forth in the Amendments. (c) Each Tranche B-1 Term Loan Lenders”Lender and Tranche B-2 Term Loan Lender, by signing this Agreement, consents to the Amendments with respect to 100% of its Tranche B-1 Term Loan Maturity Date” Loans and “Required Tranche B-2 Term Loans notwithstanding the amount of Tranche B-1 Term Loan Lenders”, respectively. In addition, all references in the Credit Agreement and the other Credit Documents Loans converted to Tranche B B-2 Term Loans as indicated on such Tranche B-2 Term Loan Commitments” (other than those references in the defined term “Tranche B Term Loan Commitments” in the Credit Agreement, Section 2.1(a) of the Credit Agreement and Section 4.3(a) of the Credit Agreement) shall be replaced with “Tranche B-1 Term Loan Commitments”Lender’s signature page.

Appears in 1 contract

Samples: Amendment No. 2 and Joinder Agreement (Intelsat S.A.)

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Incremental Joinder. Subject (a) This Agreement constitutes the request and the notice required pursuant to Section 2.21(a) of the Existing Credit Agreement; (b) subject to the satisfaction of the conditions set forth in Section 4 below (provided that 3 below, the 2021 Incremental Borrowing and the application of proceeds Term Lender agrees, effective as of the Tranche B-1 2021 Incremental Effective Date (as defined below), to make 2021 Incremental Term Loans to the Borrower on the 2021 Incremental Effective Date in Dollars in a principal amount equal to the 2021 Incremental Term Loan Commitment, as set forth in the Credit Agreement attached hereto as Exhibit A. Amounts borrowed in respect of the 2021 Incremental Term Loans and repaid or prepaid may not be reborrowed. The 2021 Incremental Term Loan Commitments of each 2021 Incremental Term Lender under the 2021 Term Loan Facility shall be deemed to occur immediately prior to automatically terminated on the Amendments):2021 Incremental Effective Date upon the borrowing of the 2021 Incremental Term Loans on such date; (ac) Each of from and after the Tranche B-1 Term Loan Lenders agrees 2021 Incremental Effective Date, (i) that it the 2021 Incremental Term Lender shall be considered an “Additional Lender” and a Lender “Term Lender” for all purposes under the Credit Agreement and the other Credit Loan Documents and agrees to be bound by perform all the terms thereof obligations of, and have all the rights of, a Lender thereunder, (ii) to make Tranche B-1 each of the 2021 Incremental Term Loan Commitments of each 2021 Incremental Term Lender shall be an “Additional Term Commitment” and a “Term Commitment” for all purposes under the Credit Agreement and the other Loan Documents, (iii) the 2021 Incremental Term Facility shall be an “Additional Term Facility” and a “Term Facility” for all purposes under the Credit Agreement and the other Loan Documents, and (iv) the 2021 Incremental Term Loans to of each 2021 Incremental Term Lender shall each be an “Additional Term Loan” and a “Term Loan” for all purposes under the Borrower on Credit Agreement and the Effective Date in an aggregate principal amount equal to other Loan Documents; (d) the amount indicated on such Tranche B-1 Term Loan Lender’s signature page hereto as its Tranche B-1 Term Loan Commitment (or such lesser amount allocated to such Tranche B-1 Term Loan Lender by the Agent, as notified to such Tranche B-1 Term Loan Lender by the Agent). The aggregate principal amount of the Tranche B-1 Term Loans made under this Agreement on the Effective Date shall be $3,218,000,000. The Borrower shall use the proceeds of the Tranche B-1 2021 Incremental Term Loans as set forth in the recitals to this Agreement. After giving effect to the application of the proceeds of the Tranche B-1 Term Loans, no Tranche B Term Loans shall remain outstanding.; and (be) All references in the Credit Agreement and the other Credit Documents to “Tranche B Term Loans”, “Tranche B Term Loan Lenders”, “Tranche B Term Loan Maturity Date” and “Required Tranche B Term Loan Lenders” Administrative Agent shall be replaced with “Tranche B-1 Term Loans”, “Tranche B-1 Term Loan Lenders”, “Tranche B-1 Term Loan Maturity Date” authorized to xxxx the Register accordingly to reflect the amendments and “Required Tranche B-1 Term Loan Lenders”, respectively. In addition, all references in the Credit Agreement and the other Credit Documents to “Tranche B Term Loan Commitments” (other than those references in the defined term “Tranche B Term Loan Commitments” in the Credit Agreement, Section 2.1(a) of the Credit Agreement and Section 4.3(a) of the Credit Agreement) shall be replaced with “Tranche B-1 Term Loan Commitments”adjustments set forth herein.

Appears in 1 contract

Samples: Incremental Joinder to First Lien Credit Agreement (Post Holdings, Inc.)

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