Common use of Incremental Term Commitments Clause in Contracts

Incremental Term Commitments. (a) Subject to the terms and conditions of this Agreement and the First Amendment, each First Amendment Incremental Term Lender with a First Amendment Incremental Term Loan Commitment severally agrees to make a First Amendment Incremental Term Loan to the Borrower on the First Amendment Effective Date in an aggregate principal amount equal to such First Amendment Incremental Term Lender’s First Amendment Incremental Term Loan Commitment. Following the making thereof, on the First Amendment Effective Date, the First Amendment Incremental Term Loans shall constitute Term Loans in all respects for purposes of this Agreement and the other Loan Documents. The Borrower may only make one borrowing under the First Amendment Incremental Term Commitments, which shall be on the First Amendment Effective Date. Any amount borrowed under this Section 4.1 and subsequently repaid or prepaid may not be reborrowed. (b) Any Incremental Term Commitments extended after the First Amendment Effective Date shall be extended pursuant to, and in accordance with Section 5.13.