Incremental Loans; Incremental Notes Clause Samples
Incremental Loans; Incremental Notes. (a) At any time after the Closing Date, on one or more occasions, the Parent Borrower may by written notice to the Administrative Agent elect to request:
(i) the establishment of one or more incremental term loan commitments (any such incremental term loan commitment, an “Incremental Term Loan Commitment”) to make one or more additional term loans, including a borrowing of an additional term loan the principal amount of which will be added to the outstanding principal amount of the existing tranche of Term Loans with the latest maturity date (any such additional term loan, an “Incremental Term Loan”); or
(ii) the establishment of one or more increases in the Aggregate Revolving A Commitments or Aggregate Revolving B Commitments, as applicable (any such increase, an “Incremental Revolving Commitment” and, together with the Incremental Term Loan Commitments, the “Incremental Loan Commitments”), to make revolving credit loans under the Revolving Credit Facilities (any such increase, an “Incremental Revolving Credit Increase” and, together with the Incremental Term Loans, the “Incremental Loans “); provided that (1) the total aggregate initial principal amount (as of the date of incurrence thereof) of such requested Incremental Loan Commitments and Incremental Loans (when combined with the aggregate amount of any substantially simultaneous issuance of Incremental Notes) shall not exceed the Incremental Facilities Limit and (2) the total aggregate amount for each Incremental Loan Commitment (and the Incremental Loans made thereunder) shall not be less than a minimum principal amount of $50,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Incremental Effective Date”) on which the Parent Borrower proposes that any Incremental Loan Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent (or such shorter period as may be approved by the Administrative Agent). The Parent Borrower may invite any Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person that meets the requirements of Section 13.7 (but subject to any consents that may be required pursuant to Section 13.7(b)(i)), to provide an Incremental Loan Commitment (any such Person, an “Incremental Lender”). Any proposed Incremental Lender offered or approached to provide all or a portion of...
Incremental Loans; Incremental Notes. (a) At any time after the Closing Date, on one or more occasions, the Parent Borrower may by written notice to the Administrative Agent elect to request:
(i) the establishment of one or more incremental term loan commitments (any such incremental term loan commitment, an “Incremental Term Loan Commitment”) to make one or more additional term loans, including a borrowing of an additional term loan the principal amount of which will be added to the outstanding principal amount of the existing tranche of Term Loans with the latest maturity date (any such additional term loan, an “Incremental Term Loan”); or
(ii) the establishment of one or more increases in the Aggregate Revolving A Commitments or Aggregate Revolving B Commitments, as applicable (any such increase, an “Incremental Revolving Commitment” and, together with the Incremental Term Loan Commitments, the “Incremental Loan Commitments”), to make revolving credit loans under the Revolving Credit Facilities (any such 110599275_6
Incremental Loans; Incremental Notes. 60 Section 2.9 Addition or Removal of Subsidiary Borrowers; Optional Currencies 65 Section 2.10 Parent Borrower as Agent for Subsidiary Borrowers 66 ARTICLE III LETTER OF CREDIT FACILITY 67 Section 3.1 Letters of Credit 67 Section 3.2 Procedure for Issuance of Letters of Credit 69 Section 3.3 Fees and Other Charges 69 Section 3.4 L/C Participations 70 Section 3.5 Reimbursement Obligation of the Parent Borrower 71 Section 3.6 Obligations Absolute 72 Section 3.7 Letter of Credit Payments 73 Section 3.8 Reporting of Letter of Credit Information and L/C Commitment 73 Section 3.9 Resignation of Issuing Lenders 73 Section 3.10 Effect of L/C Application 74 ARTICLE IV GENERAL LOAN PROVISIONS 74 Section 4.1 Interest 74 Section 4.2 Commitment Fee 78 Section 4.3 Pro Rata Treatment: Manner of Payment 78 Section 4.4 Crediting of Payments and Proceeds 79 Section 4.5 Adjustments 80 Section 4.6 Nature of Obligations of Lenders Regarding Extensions of Credit; Assumption by the Administrative Agent 80 Section 4.7 Changed Circumstances; Illegality 81 Section 4.8 Indemnity 87 Section 4.9 Capital Requirements 87 Section 4.10 Taxes 87 Section 4.11 Defaulting Lenders 95 Section 4.12 Evidence of Indebtedness 97 ARTICLE V CONDITIONS OF CLOSING AND BORROWING 98 Section 5.1 Conditions to Closing 98 Section 5.2 Conditions to All Extensions of Credit 102