Incremental Term Loan Sample Clauses

Incremental Term Loan. Subject to the terms and conditions set forth herein, the Borrower shall have the right, at any time prior to the Credit-Linked Maturity Date, to incur additional Indebtedness under this Credit Agreement in the form of an increase to the Term Loan (the “Incremental Term Loan”) by the amount of $75,000,000. The following terms and conditions shall apply to each Incremental Term Loan: (a) no Default or Event of Default shall have occurred and be continuing at the time of such increase, (b) the Borrower shall have received commitments from one or more existing Lenders or one or more new lenders for such increase (with any new lender to be reasonably acceptable to the Administrative Agent and the Borrower), (c) the Borrower shall be in pro forma compliance with (i) the financial covenants set forth in Section 5.9 and (ii) the Incurrence Test, in each case after giving effect to such increase, (d) the Administrative Agent shall have received a satisfactory legal opinion of counsel to the Borrower and such other documentation as it deems reasonably necessary to effectuate such increase, (e) the Incremental Term Loan shall not have a shorter maturity than the Term Loan, (f) the proceeds of the Incremental Term Loan shall only be used to refinance the 9.50% Senior Subordinated Notes, (g) the Weighted Average Life to Maturity of such Incremental Term Loan shall not be shorter than the Weighted Average Life to Maturity of the Term Loan and (h) if the interest rate margin on any Incremental Term Loan would be more than the Applicable Percentage for the existing Term Loan, the Applicable Percentage on the existing Term Loan (and, correspondingly, the Credit-Linked Interest) shall be increased such that the Applicable Percentage on the existing Term Loan (and the Credit-Linked Interest) is equal to the interest rate margin on such Incremental Term Loan. The Administrative Agent is authorized to enter into, on behalf of the Lenders, any amendment to this Credit Agreement or any other Credit Document as may be necessary to incorporate the terms of the Incremental Term Loan therein.

Incremental Term Loan. The Borrower shall repay the outstanding principal amount of the Incremental Term Loan in the installments on the dates and in the amounts set forth in the Incremental Term Loan Agreement (as such installments may hereafter be adjusted as a result of prepayments made pursuant to Section 2.05), unless accelerated sooner pursuant to Section 9.02.

Incremental Term Loan. Subject to Section 2.02(f), on the effective date of the Incremental Term Loan Joinder Agreement, each Incremental Term Loan Lender severally agrees to make its portion of a term loan (the “Incremental Term Loan”) in a single advance to the Borrower in the amount of its respective Incremental Term Loan Commitment as set forth in the Incremental Term Loan Joinder Agreement; provided, however, that after giving effect to such advances, the Outstanding Amount of the Incremental Term Loan shall not exceed the aggregate amount of the Incremental Term Loan Commitments of the Incremental Term Loan Lenders. Amounts repaid on the Incremental Term Loan may not be reborrowed. The Incremental Term Loan may consist of Base Rate Loans, Eurodollar Rate Loans, or a combination thereof, as the Borrower may request.

Incremental Term Loan. PRA shall repay the outstanding principal amount of the Incremental Term Loan in the installments on the dates and in the amounts set forth in the Incremental Term Loan Lender Joinder Agreement (as such installments may hereafter be adjusted as a result of prepayments made pursuant to Section 2.05), unless accelerated sooner pursuant to Section 9.02.

Incremental Term Loan. Subject to Section 2.02(f), on the effective date of any Incremental Term Loan Lender Joinder Agreement, each applicable Incremental Term Loan Lender severally agrees to make its portion of a term loan (each, an “Incremental Term Loan”) in a single advance to the Parent Borrower in Dollars in the amount of its respective Incremental Term Loan Commitment as set forth in the applicable Incremental Term Loan Lender Joinder Agreement; provided, however, that after giving effect to such advances, the Outstanding Amount of each Incremental Term Loan shall not exceed the aggregate amount of the Incremental Term Loan Commitments of the applicable Incremental Term Loan Lenders. Amounts repaid on the Incremental Term Loan may not be reborrowed. The Incremental Term Loan may consist of Base Rate Loans, Eurocurrency Rate Loans, or a combination thereof, as the Parent Borrower may request.

Incremental Term Loan. Subject to Section 2.02(f), each Lender having an Incremental Term Loan Commitment agrees, subject to the terms and conditions set forth herein and in the applicable Incremental Term Loan Funding Agreement, to make Incremental Term Loans to the Borrower in an aggregate principal amount not to exceed its respective Incremental Term Loan Commitment. Amounts repaid or prepaid in respect of Incremental Term Loans may not be reborrowed.

Incremental Term Loan. Each Lender with an Incremental Term Loan Commitment pursuant to Section 2.06(b) severally agrees to make its portion of a term loan (an “Incremental Term Loan”) in a single advance in Dollars to the Borrower in an aggregate amount not to exceed such Lender’s Incremental Term Loan Commitment; provided, however, that after giving effect to the Borrowing of the applicable Incremental Term Loan, the Total Facility Outstandings shall not exceed the Borrowing Base. Once advanced, Incremental Term Loans shall be aggregated with Closing Date Term Loans and all such Loans shall be referred to as Term Loans. Amounts repaid on the Term Loans may not be reborrowed. The Term Loans, including any Incremental Term Loan, may consist of Base Rate Loans or Eurodollar Rate Loans, as further provided herein.

Incremental Term Loan. A. The Borrower confirms and agrees that (i) it has requested an additional tranche of term loans, to be referred to in the Credit Agreement as Tranche C Term Loans, in the amount of $850,000,000 from the Tranche C Term Lenders pursuant to and on the terms set forth in Section 2.14(a) of the Credit Agreement, effective on the Second Amendment Effective Date, (ii) on the Second Amendment Effective Date, the Borrower will borrow (and hereby requests funding of) the full amount of Tranche C Term Loans from the Tranche C Term Lenders and (iii) prior to the Second Amendment Effective Date, the Borrower will deliver to the Administrative Agent a timely Committed Loan Notice with respect to the Tranche C Term Loan Borrowing. B. Each Tranche C Term Lender agrees that (i) effective on and at all times after the Second Amendment Effective Date, in addition to all Initial Term Loans of such Lender (if any) outstanding prior to the Second Amendment Effective Date, such Tranche C Term Lender will be bound by all obligations of a Lender under the Credit Agreement in respect of the Tranche C Term Commitment in the amount set forth on its Lender Addendum delivered to the Administrative Agent on or before the Second Amendment Effective Date and (ii) on the Second Amendment Effective Date such Tranche C Term Lender will fund Tranche C Term Loans in the amount of such Tranche C Term Lender’s Tranche C Term Commitment. On the Second Amendment Effective Date, each Tranche C Term Lender which was not a Lender prior to the Second Amendment Effective Date will become a Lender for all purposes of the Credit Agreement. The obligations of the Tranche C Term Lenders hereunder are in all respects several and not joint. No Tranche C Term Lender is or ever shall be in any respect responsible or liable for any obligation of any other Tranche C Term Lender or any other Lender.

Incremental Term Loan. The Borrower shall repay the outstanding principal amount of the Incremental Term Loan in installments on the dates (or the next following Business Day if such date is not a Business Day) and in the amounts set forth in the Lender Joinder Agreement (as such installments may hereafter be adjusted as a result of prepayments made pursuant to Section 2.05), unless accelerated sooner pursuant to Section 9.02.

Incremental Term Loan. Subject to Section 2.02(f), on the effective date of the Incremental Term Loan Lender Joinder Agreement, each Incremental Term Loan Lender severally agrees to make its portion of a term loan (the “Incremental Term Loan”) in a single advance to PRA in Dollars in the amount of its respective Incremental Term Loan Commitment as set forth in the Incremental Term Loan Lender Joinder Agreement; provided, however, that 13598911v3 after giving effect to such advances, (i) the Outstanding Amount of the Incremental Term Loan shall not exceed the aggregate amount of the Incremental Term Loan Commitments of the Incremental Term Loan Lenders and (ii) the Total Domestic Revolving Outstandings plus the outstanding amount of the Term Loan plus the outstanding amount of the Incremental Term Loan shall not exceed the Domestic Borrowing Base. Amounts repaid on the Incremental Term Loan may not be reborrowed. The Incremental Term Loan may consist of Base Rate Loans, Daily Simple SOFR Loans, Term SOFR Loans, or a combination thereof, as PRA may request.