Incremental Revolving Loan Commitment Clause Samples
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Incremental Revolving Loan Commitment. The New Commitments of the Incremental Revolving Loan Lenders (such commitment, the “Incremental Revolving Loan Commitment”) is $370,000,000. Each Incremental Revolving Loan Lender severally agrees to make Revolving Loans to the Borrower from time to time in an aggregate amount up to but not exceeding the amount set opposite such Incremental Revolving Loan Lender’s name under “Incremental Revolving Loan Commitment” on Schedule I attached hereto, subject to the terms of the Credit Agreement. Bank of China, Los Angeles Branch agrees, during the Availability Period, subject to the terms and conditions of the Credit Agreement, to issue Letters of Credit at the request and for the account of the Borrower or any Subsidiary in the aggregate Dollar Equivalent up to but not exceeding the amount set opposite its name under “Letter of Credit Issuer Sublimit” on Schedule I attached hereto. On the Effective Date, (a) each of the existing Lenders immediately prior to the Effective Date (the “Existing Lenders”) shall assign to each Incremental Revolving Loan Lender, and each Incremental Revolving Loan Lender shall purchase from each Existing Lender, at the principal amount thereof (together with accrued interest), such interests in the Revolving Loans and Letter of Credit Usage outstanding on the Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Revolving Loans and participation interests in Letter of Credit Usage will be held by Existing Lenders and Incremental Revolving Loan Lenders ratably in accordance with their Revolving Commitments after giving effect to the addition of the Incremental Revolving Loan Commitment to the Revolving Commitments, (b) each Incremental Revolving Loan Commitment shall be deemed for all purposes a Revolving Commitment and each Loan made thereunder shall be deemed, for all purposes, a Revolving Loan and (c) each Incremental Revolving Loan Lender shall become a Lender for all purposes under the Credit Agreement.
Incremental Revolving Loan Commitment. Pursuant to Section 2.19 of the Credit Agreement and effective as of the Effective Date (as defined below):
(a) The Additional Revolving Lender, as a Lender under the Credit Agreement, agrees that the aggregate amount of the Incremental Revolving Loan Commitment shall be $3,000,000 and shall have an additional Class A-2 Revolving Commitment (in addition to any existing Class A-2 Revolving Commitment) in the amount of its Incremental Revolving Loan Commitment; and
(b) The Credit Agreement is hereby amended as follows:
(i) As of the Effective Date, the aggregate amount of the Class A-2 Revolving Commitments shall be increased to $40,000,000 and the Incremental Revolving Loan Commitment shall have the same terms as the Class A-2 Revolving Commitments; and
(ii) As of the Effective Date, the “Class A-2 Revolving Commitment” column included in Schedule 1.01(d) of the Credit Agreement is hereby amended and restated in its entirety as set forth on Schedule l.0l(d) to this Agreement.
Incremental Revolving Loan Commitment. The New Commitments of the Incremental Revolving Loan Lender (such commitment, the “Incremental Revolving Loan Commitment”) is $50,000,000. The Incremental Revolving Loan Lender agrees to make Revolving Loans to the Borrower from time to time in an aggregate amount up to but not exceeding the Incremental Revolving Loan Commitment, subject to the terms of the Credit Agreement. Silicon Valley Bank agrees, during the Availability Period, subject to the terms and conditions of the Credit Agreement, to issue
Incremental Revolving Loan Commitment. 1. Each of the Incremental Lenders hereby agrees, severally and not jointly, to increase its respective Revolving Loan Commitment in an aggregate principal amount equal to the amount set forth opposite such Incremental Lender’s name on Schedule 2.1 of the Credit Agreement as amended hereby, on the terms set forth herein and in the Credit Agreement (as amended hereby), and subject to the conditions set forth in this Amendment. After giving effect to the 2019 Incremental Revolving Loan Commitment, the total amount of Incremental Facilities which may be incurred by the Borrower shall be reduced from $100,000,000 to $50,000,000.
2. For the avoidance of doubt, all Revolving Loans made pursuant to the Revolving Loan Commitments, as increased hereby, shall have terms and provisions identical to those applicable to the Revolving Loans made immediately prior to the First Amendment Effective Date.
Incremental Revolving Loan Commitment