Incremental Loan. (a) Subject to the terms and conditions set forth herein and in the Credit Agreement (as amended by this Amendment), the Incremental Lender agrees to make the Incremental Loan to the Borrower in a single drawing on the First Amendment Effective Date (the commitment of the Incremental Lender to make such Incremental Loan being called its “Incremental Commitment”). Amounts repaid in respect of the Incremental Loan may not be reborrowed.
Incremental Loan. Borrower has requested that Lender temporarily increase the principal amount of the Loan and the Lender has agreed to temporarily increase the principal amount of the Loan upon the terms and conditions as set forth herein (such increase, the “Incremental Facility” and the loan made pursuant to such Incremental Facility, the “Incremental Loan”) in an aggregate principal amount not to exceed $12,500,000. Such Incremental Loan shall be due and payable in full on the Incremental Loan Termination Date; provided that Borrower may voluntarily prepay amounts due under the Incremental Loan prior to the Incremental Loan Termination Date without penalty. Subject to the foregoing limitations, and the other terms and provisions of this Agreement, Borrower may not repay and reborrow amounts under the Incremental Loan. Upon the Incremental Loan Termination Date, at Lender’s request, Borrower shall execute an amended and restated note reflecting a Commitment of $30,000,000.
Incremental Loan. The obligations of the Lenders to make any Incremental Loans hereunder shall (x) not become effective until the date on which each of the conditions set forth in Section 6.01 and Section 6.02 are satisfied (or waived in accordance with Section 12.02) and (y) be subject to and conditioned upon each of the following conditions (or waiver thereof in accordance with Section 12.02) at the time of any such Incremental Loan:
Incremental Loan. The Borrower may request an additional Commitment for the making of one additional Loan under this Agreement following the Closing Date upon not less than 10 Business Days’ notice to the Administrative Agent (or such lesser period of time permitted by the Administrative Agent), so long as (a) the requested additional Commitment is not more than $14,893,617.00, (b) the Insurance Policy limit has increased by at least such requested Commitment amount (less any agreed retention) and is offered on the same terms as the Loans made on the Closing Date, except as otherwise agreed by the Lenders, (c) the Borrower does not permit Liquidity to be less than the Interest Escrow Required Amount, calculated on a pro forma basis immediately after giving effect to each of (i) the establishment of such additional Commitment and (ii) the incurrence of such additional Loan (using Liquidity calculated as of the date of such establishment and/or incurrence (as applicable) and immediately after giving effect thereto, and the Interest Escrow Required Amount equal to the aggregate amount of the four (4) immediately following interest payments owed on the Loans) and (d) unless otherwise agreed by the Lenders, the Borrower shall use the proceeds of any such additional Loans solely for general corporate purposes. The Administrative Agent shall promptly notify the Lenders of the requested additional Commitment and, within ten (10) Business Days thereafter (or such other period agreed by the Administrative Agent and the Borrower), each Lender shall notify the Administrative Agent if and to what extent such Lender agrees to provide such additional Commitment. Any Lender not accepting in writing within such period shall be deemed to have declined to provide the requested additional Commitment. The Administrative Agent and the Borrower may allocate, in their discretion, any additional Commitments among committing existing Lenders. Any additional Commitment established pursuant to this Section 2.06 shall be established at the requested amount (or such lesser amount committed by existing Lenders and agreed by the Borrower) on the date requested by the Borrower and agreed upon by the Administrative Agent and the Lenders providing such incremental Commitment, provided the conditions set forth in Section 7.01 are satisfied at such time. The Administrative Agent, the Borrower, and the existing Lenders shall execute and deliver such documents and agreements as the Administrative Agent deems app...
Incremental Loan. (a) At any time prior to the Revolving Line Maturity Date, provided no Default or Event of Default has occurred and is continuing and subject to the conditions set forth in clause (d) below, upon prior written notice to Bank, Borrower may request one increase to the Revolving Line (the “Incremental Revolving Line Commitment”), in an aggregate amount not to exceed Ten Million Dollars ($10,000,000.00).
Incremental Loan. (a) The Borrower shall have the right to propose that the Loan be increased by notice to the Agent specifying (i) the new or existing Lender (the “Incremental Lender”) that shall have agreed to make such additional loans (such loans, the “Incremental Loans”) and (ii) the date on which such loan is to be made (the “Incremental Loan Date”), which shall be a Business Day at least three (3) Business Days (or such lesser period as the Agent may reasonably agree) after delivery of such notice; provided that each Lender may determine in its sole discretion whether or not it chooses to participate in such increase; provided, further that (A) immediately after giving effect to such increase, the aggregate principal amount of the Loan (net of any capitalized interest) shall not exceed $61,206,226; (B) immediately prior to and after giving effect to such increase no Default or Event of Default shall have occurred and be continuing; (C) the representations and warranties contained in this Agreement and the other Finance Documents shall be true and correct in all material respects (other than any representation or warranty already qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) on and as of the Incremental Loan Date as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); and (D) at the time of such Incremental Loan, such Incremental Lender shall be a holder of Equity Interests of Parent and such Incremental Loan shall be made pro rata in accordance with such holdings as of the Effective Date such that, upon the effectiveness of the Incremental Loan, the Lenders hold not less than 90% of the outstanding Equity Interests of Parent on a pro rata basis.
Incremental Loan. (a) At any time prior to the Revolving Line Maturity Date, provided no Event of Default has occurred and is continuing and subject to the conditions set forth in clauses (b) and (d) below, upon prior written notice to Bank, Borrower may request up to two (2) increases to the Revolving Line (each, an “Incremental Revolving Line Commitment”) in an aggregate additional amount of Twenty-Five Million Dollars ($25,000,000) for all such increases. Any Incremental Revolving Line Commitment shall be in the amount of at least Five Million Dollars ($5,000,000) or such lower amount that represents all remaining availability pursuant to this Section 1.9(a).
Incremental Loan. Section 2.8 of the Loan Agreement is deleted in its entirety. In connection therewith, Borrower has notified Bank of its exercise of the Incremental Loan, increasing the Revolving Line by Ten Million Dollars ($10,000,000.00), as noted in the definition of Revolving Line below.
Incremental Loan. Amounts borrowed under this Section 2.01(b) and repaid or prepaid may not be reborrowed.”
Incremental Loan. On the date hereof, Lenders shall make an advance to Joinder Borrowers and Existing Borrowers of the Incremental Loan. For the avoidance of doubt, the Incremental Loan is a “Term Loan” under the Loan Agreement, as amended and supplemented hereby. The Contract Rate applicable to the Incremental Loan shall be the Contract Rate set forth in the Loan Agreement. The Incremental Loan shall mature on the Maturity Date. 10.
