Incremental Revolving Commitment. (a) Subject to the terms and conditions set forth herein, on the Commitment Increase Effective Date (as defined below), the Incremental Revolving Commitments of each Incremental Revolving Lender shall become effective. The Incremental Revolving Commitments shall terminate on the Maturity Date applicable to the Revolving Commitments outstanding under the Credit Agreement immediately prior to the Commitment Increase Effective Date (the “Existing Commitments”) and have terms (including in respect of fees and interest rates) identical to the terms of the Existing Commitments. (b) From and after the Commitment Increase Effective Date, for all purposes of the Loan Documents, (i) the Incremental Revolving Commitments shall constitute “Commitments” and “Revolving Commitments” under the Credit Agreement and shall be deemed to constitute the same class of Commitments as the Existing Commitments, (ii) Loans made pursuant to the Incremental Revolving Commitments contemplated hereby shall constitute “Revolving Loans” and “Loans” under the Credit Agreement and shall be deemed to constitute the same class of Loans as any Loans made pursuant to the Existing Commitments and (iii) each Incremental Revolving Lender shall be (or in the case of any Incremental Revolving Lender with an Existing Commitment, continue to be) a “Revolving Lender” and a “Lender” under the Credit Agreement, and shall have all the rights and obligations of a Lender holding a Commitment under the Credit Agreement.
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Samples: Incremental Commitment Agreement (Waters Corp /De/)
Incremental Revolving Commitment. (a) Subject Concurrent with the Eighth Amendment Effective Time, after giving effect to the terms and conditions set forth herein, on the Revolving Commitment Increase pursuant to the 2022 Incremental Revolving Commitments, (x) in accordance with Section 2.19(g) of the Credit Agreement, each Revolving Lender holding Revolving Commitments immediately prior to such Revolving Commitment Increase (each such Revolving Lender, an “Existing Revolving Lender”) that has Revolving Exposure with respect to Revolving Loans that are outstanding under its Existing Revolving Commitments as of immediately prior to the Eighth Amendment Effective Date Time (as defined belowthe “Existing Revolving Loans”), the will, pursuant to Section 2.19(g), assign to each 2022 Incremental Revolving Commitments of Lender, and each 2022 Incremental Revolving Lender shall become effective. The Incremental purchase from such Existing Revolving Commitments shall terminate on Lender, at the Maturity Date applicable to principal amount thereof, such interests in the Existing Revolving Commitments Loans outstanding under the Credit Agreement as of immediately prior to the Eighth Amendment Effective Time as shall be necessary in order that, after giving effect to all such assignments and purchases under this clause (x), and taking into account all Credit Extensions of Revolving Loans made as of the Eighth Amendment Effective Time, such Existing Revolving Loans will be held by Existing Revolving Lenders and 2022 Incremental Revolving Lenders ratably in accordance with their Revolving Commitments after giving effect to the Revolving Commitment Increase Effective Date (the “Existing Commitments”) and have terms (including in respect of fees and interest rates) identical pursuant to the terms of the Existing Commitments.
(b) From and after the Commitment Increase Effective Date, for all purposes of the Loan Documents, (i) the 2022 Incremental Revolving Commitments shall constitute “Commitments” and “Revolving Commitments” under the Credit Agreement and shall be deemed to constitute the same class of Commitments as the Existing Commitments, (ii) Loans made pursuant to the Incremental Revolving Commitments contemplated hereby shall constitute “Revolving Loans” and “Loans” under the Credit Agreement and shall be deemed to constitute the same class of Loans as any Loans made pursuant to the Existing Commitments and (iiiy) the LC Exposure of each Incremental Revolving Lender shall be based on such Revolving Lender’s Pro Rata Share (or in for the case avoidance of any doubt, determined after giving effect to the Revolving Commitment Increase pursuant to the 2022 Incremental Revolving Commitments) of the aggregate LC Exposure. The Administrative Agent and each Issuing Bank hereby consent to each 2022 Incremental Revolving Lender with an Existing Commitment, continue to be) a “Revolving Lender” and a “Lender” under the Credit Agreement, and shall have all the rights and obligations of a Lender holding a Commitment extent required pursuant to Section 2.19 and/or Section 10.04 under the Credit Agreement.
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Incremental Revolving Commitment. (a) Subject to the terms and satisfaction of each of the conditions set forth hereinin Section 4 hereof, on upon the Commitment Increase occurrence of the First Amendment Effective Date (as defined below)Date, the Revolving Lenders party hereto providing the First Amendment Incremental Revolving Commitments (each, a “First Amendment Incremental Lender”, and, collectively the “First Amendment Incremental Lenders”) hereby establish in favor of each the Borrower the First Amendment Incremental Revolving Facility on the terms of, and in accordance with, this Amendment, the Existing Loan Agreement and the other Loan Documents.
(b) As of the First Amendment Effective Date, each First Amendment Incremental Lender hereby severally and not jointly agrees to commit to provide its respective First Incremental Amendment Revolving Commitment as set forth on Schedule I hereto.
(c) The terms and provisions of the First Amendment Incremental Revolving Commitments and any Revolving Loans issued pursuant thereto shall become effectivebe identical to the terms and provisions of the Revolving Commitments and any Revolving Loans issued pursuant thereto existing at any time under the Loan Agreement and any other related terms will have correlative meanings mutatis mutandis with the terms in the Loan Agreement. The First Amendment Incremental Revolving Commitments shall terminate on constitute a part of and be subject to all the Maturity Date same terms and conditions as the Revolving Loan Commitments in effect as of the First Amendment Effective Date, all Revolving Loans issued pursuant to the First Amendment Incremental Revolving Commitments shall be (and shall be deemed to be) the same Type as Revolving Loans issued pursuant the Revolving Loan Commitments in effect from time to time under the Loan Agreement and the First Amendment Incremental Revolving Commitments and all Revolving Loans issued pursuant thereto shall rank pari passu with the other Obligations.
(d) Without limiting the generality of the foregoing, the First Amendment Incremental Revolving Commitments and the Revolving Loans issued pursuant thereto shall: (i) constitute Obligations and have all of the benefits thereof (including with respect to all guarantees and security), (ii) have terms, rights, remedies, privileges, premiums and protections identical to those applicable to the Revolving Commitments outstanding and any Revolving Loans issued pursuant thereto under the Credit Loan Agreement immediately prior to the Commitment Increase Effective Date (the “Existing Commitments”) and have terms (including in respect of fees and interest rates) identical to the terms each of the Existing Commitments.
(b) From and after the Commitment Increase Effective Date, for all purposes of the other Loan Documents, (iiii) be structured as an increase to the existing Revolving Commitments, (iv) be guaranteed by the Subsidiary Guaranty and each other Guaranty provided for all or any portion of the Obligations and (v) be secured by the Liens granted to the Administrative Agent for the benefit of the Secured Parties under the Security Agreement, the Pledge Agreement and each other Security Document.
(e) Each reference to a “Revolving Commitment” or the “Revolving Commitments”, in the Loan Agreement shall include the First Amendment Incremental Revolving Commitments shall constitute and references to “CommitmentsRevolving Lenders” and “Revolving CommitmentsLenders” under shall also include the Credit Agreement and shall be deemed to constitute the same class of Commitments as the Existing Commitments, (ii) Loans made pursuant to the First Amendment Incremental Revolving Commitments contemplated hereby shall constitute “Revolving Loans” and “Loans” under the Credit Agreement and shall be deemed to constitute the same class of Loans as any Loans made pursuant to the Existing Commitments and (iii) each Incremental Revolving Lender shall be (or in the case of any Incremental Revolving Lender with an Existing Commitment, continue to be) a “Revolving Lender” and a “Lender” under the Credit Agreement, and shall have all the rights and obligations of a Lender holding a Commitment under the Credit AgreementLenders.
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Incremental Revolving Commitment. (a) Subject The New Lender hereby agrees to provide a Revolving Commitment to the terms and conditions Borrowers in an amount equal to its Revolving Commitment set forth herein, on Appendix A attached hereto. The New Lender’s Revolving Commitment Percentage of the Commitment Increase Effective Date (as defined below), the Incremental Aggregate Revolving Commitments as of each Incremental Revolving Lender the date hereof shall become effectivebe as set forth on Appendix A attached hereto. The Incremental Revolving Commitments shall terminate on the Maturity Date applicable existing Appendix A to the Revolving Commitments outstanding under the Credit Agreement immediately prior shall be deemed to be amended to include the Commitment Increase Effective Date (the “Existing Commitments”) and have terms (including in respect of fees and interest rates) identical to the terms of the Existing Commitmentsinformation set forth on Appendix A attached hereto.
(b) From and after The New Lender shall be deemed to have purchased, without recourse, a risk participation from the Commitment Increase Effective Date, for Issuing Bank in all purposes Letters of the Loan Documents, (i) the Incremental Revolving Commitments shall constitute “Commitments” and “Revolving Commitments” Credit issued by it under the Credit Agreement and the obligations arising thereunder in an amount equal to its Revolving Commitment Percentage of the obligations under such Letters of Credit, and shall absolutely, and unconditionally assume, and be obligated to pay to the Issuing Bank and discharge when due as provided in the Credit Agreement, its Revolving Commitment Percentage of the obligations arising under such Letters of Credit.
(c) The New Lender shall be deemed to constitute have purchased, without recourse, a risk participation from the same class of Commitments as the Existing Commitments, (ii) Swingline Lender in all Swingline Loans made pursuant to the Incremental Revolving Commitments contemplated hereby shall constitute “Revolving Loans” and “Loans” by it under the Credit Agreement and the obligations arising thereunder in an amount equal to its Revolving Commitment Percentage of the obligations under such Swingline Loans, and shall absolutely and unconditionally assume, and be deemed obligated to constitute the same class of Loans as any Loans made pursuant pay to the Existing Commitments Swingline Lender and (iii) each Incremental Revolving Lender shall be (or discharge when due as provided in the case of any Incremental Revolving Lender with an Existing Commitment, continue to be) a “Revolving Lender” and a “Lender” under the Credit Agreement, and shall have all its Revolving Commitment Percentage of the rights and obligations of a Lender holding a Commitment arising under the Credit Agreementsuch Swingline Loans.
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Samples: Incremental Revolving Commitment Agreement (FutureFuel Corp.)
Incremental Revolving Commitment. (a) Subject Upon each increase in the revolving commitments under any Revolving Facility pursuant to the terms this Section 2.22, each Revolving Lender immediately prior to such increase will automatically and conditions set forth herein, on the Commitment Increase Effective Date (as defined below), without further act be deemed to have assigned to each Additional Lender providing a portion of the Incremental Revolving Commitments Commitment (each, an “Incremental Revolving Lender”) in respect of such increase, and each such Incremental Revolving Lender shall become effectivewill automatically and without further act be deemed to have assumed, a portion of such Revolving Lender’s participations hereunder in outstanding Letters of Credit under such Revolving Facility such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding participations hereunder in such Letters of Credit under such Revolving Facility held by each Revolving Lender (including each such Incremental Revolving Lender), as applicable, will equal the percentage of the aggregate revolving commitments of all Revolving Lenders under such Revolving Facility. The Additionally, if any revolving loans are outstanding under a Revolving Facility at the time any Incremental Revolving Commitments are established as an increase to such Revolving Facility, the applicable Revolving Lenders immediately after effectiveness of such Incremental Revolving Commitments shall terminate on purchase and assign at par such amounts of the Maturity Date applicable revolving loans outstanding under such Revolving Facility at such time as the Administrative Agent may require such that each Revolving Lender holds its pro rata percentage of all revolving loans outstanding under such Revolving Facility immediately after giving effect to all such assignments. The Administrative Agent and the Lenders hereby agree that the minimum borrowing, pro rata borrowing and pro rata payment requirements contained elsewhere in this Agreement shall not apply to the Revolving Commitments outstanding under the Credit Agreement immediately prior to the Commitment Increase Effective Date (the “Existing Commitments”) and have terms (including in respect of fees and interest rates) identical to the terms of the Existing Commitments.
(b) From and after the Commitment Increase Effective Date, for all purposes of the Loan Documents, (i) the Incremental Revolving Commitments shall constitute “Commitments” and “Revolving Commitments” under the Credit Agreement and shall be deemed to constitute the same class of Commitments as the Existing Commitments, (ii) Loans made transactions effected pursuant to the Incremental Revolving Commitments contemplated hereby shall constitute “Revolving Loans” and “Loans” under the Credit Agreement and shall be deemed to constitute the same class of Loans as any Loans made pursuant to the Existing Commitments and (iii) each Incremental Revolving Lender shall be (or in the case of any Incremental Revolving Lender with an Existing Commitment, continue to be) a “Revolving Lender” and a “Lender” under the Credit Agreement, and shall have all the rights and obligations of a Lender holding a Commitment under the Credit Agreementimmediately preceding sentence.
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Incremental Revolving Commitment. (a) Subject to the terms and conditions set forth herein, on the Commitment Increase Amendment Effective Date (as defined below), the Incremental Revolving Commitments of each Incremental Revolving Lender shall become effective. The Incremental Revolving Commitments Lender, which shall terminate on the Maturity Date applicable to the Revolving Commitments outstanding under the Credit Agreement immediately prior to the Commitment Increase Amendment Effective Date (the “Existing Commitments”) and have terms (including in respect of fees and interest rates) identical to the terms of the Existing Commitments (including with respect to the Applicable Rate that will apply to ABR Loans, Eurocurrency Loans and facility fees relating to such Incremental Revolving Commitments), shall become effective.
(b) From Subject to the terms and after conditions set forth herein, pursuant to Section 2.21 of the Commitment Increase Credit Agreement, effective as of the Amendment Effective Date, for all purposes of the Loan Documents, (i) the Incremental Revolving Commitments shall constitute “Commitments” and “Revolving Incremental Commitments” under the Credit Agreement and shall be deemed to constitute the same class of Commitments as the Existing Commitments, (ii) Loans made pursuant to the Incremental Revolving Commitments contemplated hereby shall constitute “Revolving Loans” and “Loans” under the Credit Agreement and shall be deemed to constitute the same class of Loans as any Loans made pursuant to the Existing Commitments and (iii) each Incremental Revolving Lender shall be (or in the case of any Incremental Revolving Lender with an Existing Commitment, continue to be) a “Revolving Lender” and a “Lender” under the Credit Agreement, Agreement and shall have all the rights and obligations of a Lender holding a Commitment under the Credit Agreement.
(c) The provisions of Section 2.21(e) of the Credit Agreement will apply to the Incremental Commitments and to any ABR Revolving Loans and Eurocurrency Revolving Loans outstanding on the Amendment Effective Date. Accordingly, on the Amendment Effective Date, any outstanding ABR Revolving Loans will be prepaid by the Company or refinanced (subject to satisfaction of applicable borrowing conditions) with Revolving Loans made by all Revolving Lenders, including the Incremental Revolving Lenders, in accordance with their Applicable Percentages, pursuant to the procedures set forth in Section 2.21(e) of the Credit Agreement. The Company will, in connection with any such prepayment or refinancing, pay accrued and unpaid interest on the principal amount of any Revolving Credit Loan that is prepaid. Any Eurocurrency Revolving Loans outstanding on the Amendment Effective Date will be repaid or refinanced on the last day of their then-current Interest Periods (including on the Amendment Effective Date in the case of any such Interest Periods ending on such date) and will be subject to the provisions of Section 2.21(e) with respect to earlier purchases of participations by Incremental Revolving Lenders in the case of occurrence of any Event of Default.
(d) JPMCB, in its capacities as Administrative Agent and Issuing Bank, hereby consents to this Amendment and confirms that each Incremental Revolving Lender not already a Lender under the Credit Agreement is satisfactory to it.
Appears in 1 contract
Samples: Incremental Facility Agreement (Vishay Intertechnology Inc)
Incremental Revolving Commitment. (a) Subject Upon the occurrence of the Third Amendment Closing Date, (i) each 2022-2 Incremental Revolving Lender shall have the 2022-2 Incremental Revolving Commitment in an amount equal to the amount set forth next to such 2022-2 Incremental Revolving Lender’s name in Schedule 1 hereto, (ii) the Aggregate Revolving Credit Commitments shall be $100,000,000 and (iii) Schedule 2.01 to the Credit Agreement shall be amended and restated in its entirety, and each Lender’s Revolving Credit Commitment shall be, as set forth on Schedule 2 hereto.
(b) The terms and conditions of the 2022-2 Incremental Revolving Commitments and any 2022-2 Incremental Revolving Loans shall be identical to the terms and conditions set forth hereinof the Revolving Credit Commitments and any Revolving Credit Loans outstanding immediately prior to the Third Amendment Closing Date, on respectively (except with respect to upfront or similar fees paid to the Commitment Increase Effective Date (as defined below2022-2 Incremental Revolving Lenders pursuant to the terms hereof), the . The 2022-2 Incremental Revolving Commitments shall constitute the same Class of Commitments as the Revolving Credit Commitments outstanding immediately prior to the Third Amendment Closing Date. The 2022-2 Incremental Revolving Loans shall constitute the same Class of Loans as any Revolving Credit Loans made in respect of the Revolving Credit Commitments outstanding immediately prior to the Third Amendment Closing Date.
(c) Upon the occurrence of the Third Amendment Closing Date, the Revolving Credit Lenders under the Credit Amendment immediately prior to the effectiveness of the 2022-2 Incremental Revolving Commitments (each an “Existing Revolving Lender”) automatically and without further act are hereby deemed to have assigned to the 2022-2 Incremental Revolving Lenders, and the 2022-2 Incremental Revolving Lenders automatically and without further act are hereby deemed to have assumed, a portion of each Existing Revolving Lender’s participations in outstanding Letters of Credit such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding participations in Letters of Credit held by each Revolving Credit Lender (including the 2022-2 Incremental Revolving Lenders) equals the percentage of the aggregate Revolving Credit Commitments of all Revolving Credit Lenders (including the 2022-2 Incremental Revolving Lenders) represented by such Revolving Credit Xxxxxx’s Revolving Credit Commitment after giving effect to the 2022-2 Incremental Revolving Commitments.
(d) Upon the occurrence of the Third Amendment Closing Date, (i) each 2022-2 Incremental Revolving Lender shall become effective. The be a “Lender”, an “Incremental Revolving Commitments shall terminate on the Maturity Date applicable to the Increase Lender,” and a “Revolving Commitments outstanding under the Credit Agreement immediately prior to the Commitment Increase Effective Date (the “Existing Commitments”) and have terms (including in respect of fees and interest rates) identical to the terms of the Existing Commitments.
(b) From and after the Commitment Increase Effective Date, Lender” for all purposes of the Amended Credit Agreement and the other Loan Documents, (iii) the 2022-2 Incremental Revolving Commitments Commitment shall constitute a “Revolving Credit Commitment” for all purposes of the Amended Credit Agreement and the other Loan Documents and (iii) the 2022-2 Incremental Revolving Loans shall constitute “CommitmentsRevolving Credit Loans” for all purposes of the Amended Credit Agreement and “the other Loan Documents.
(e) Each 2022-2 Incremental Revolving Commitments” under Lender:
(i) confirms that it received a copy of this Agreement, the Credit Agreement and shall be such other documents and information it has deemed appropriate to constitute make its own credit analysis and decision to enter into this Agreement and to provide its 2022-2 Incremental Revolving Commitment hereunder and make the same class 2022-2 Incremental Revolving Loans with respect thereto on the basis of Commitments as which it has made such analysis and decision independently and without reliance on the Existing Commitments, Administrative Agent or any Lender;
(ii) Loans confirms that it is sophisticated with respect to decisions to make loans similar to those contemplated to be made hereunder and that it is experienced in making loans of such type;
(iii) appoints, authorizes and instructs the Administrative Agent to execute, enter into, and perform under this Agreement and to take such other action as agent on its behalf and to exercise such powers under the Amended Credit Agreement and the other Loan Documents or any other instrument or document furnished pursuant hereto or thereto as are delegated to the Incremental Revolving Commitments contemplated hereby Administrative Agent, by the terms thereof, together with such powers as are reasonably incidental thereto; and
(iv) acknowledges and agrees that it shall constitute be a “Secured Party”, “Revolving LoansCredit Lender” and “LoansLender” under under, and for all purposes of, the Amended Credit Agreement and the other Loan Documents, shall be deemed subject to constitute and bound by the same class of Loans as any Loans made pursuant to the Existing Commitments and (iii) each Incremental Revolving Lender shall be (or in the case of any Incremental Revolving Lender with an Existing Commitment, continue to be) a “Revolving Lender” and a “Lender” under the Credit Agreement, term thereof and shall perform all the obligations of and have all the rights and obligations of a Lender.
(f) Each L/C Issuer and each Swingline Lender holding a Commitment under hereby approves of the 2022-2 Incremental Revolving Lenders providing Incremental Revolving Credit Commitments and the L/C Issuer consents to act as such in respect of the 2022-2 Incremental Revolving Commitments.
(g) As used in any other Loan Document, all references to the “Credit Agreement” or the “Amended Credit Agreement” in such Loan Document shall, unless the context otherwise requires, mean or refer to the Amended Credit Agreement.
Appears in 1 contract
Samples: Credit Agreement (Insulet Corp)