Limitation on Additional Credit Extensions Sample Clauses

Limitation on Additional Credit Extensions. Notwithstanding Section 2.0l(a) or any other provision contained herein or in any other Loan Document to the Exhibit 10.4 contrary, following the Amendment No. 1 Effective Date, neither the Borrower Representative nor any Borrower may request (pursuant to a Loan Notice, a Swingline Loan Notice or otherwise), and the Lenders shall have no obligation to make, any additional Loan or other Credit Extension (other than the Effective Date Loans) unless such Loan or other Credit Extension is approved in writing by all of the Lenders in their sole and absolute discretion (which approval, for the avoidance of doubt, may be conditioned on the satisfaction of such conditions precedent as may be required by the Lenders in their sole and absolute discretion). For the avoidance of doubt, this Section 2.0l(c) shall not prohibit any conversion of Loans from one Type to the other or any continuation of Term SOFR Loans, in each case, pursuant to Section 2.02."
Sample 1
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Related to Limitation on Additional Credit Extensions

  • Limitation on Credit Extensions Except for Permitted Investments, no Restricted Person will extend credit, make advances or make loans other than normal and prudent extensions of credit to customers buying goods and services in the ordinary course of business, which extensions shall not be for longer periods than those extended by similar businesses operated in a normal and prudent manner.

  • Conditions to all Credit Extensions The obligation of each Lender to honor any Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type, or a continuation of Eurodollar Rate Loans) is subject to the following conditions precedent:

  • Incremental Credit Extensions (a) The Borrowers may at any time or from time to time on one or more occasions after the Effective Date request (i) one or more additional Classes of term loans (each, an “Incremental Term Facility”), (ii) one or more additional term loans of the same Class of any existing Class of term loans (each, an “Incremental Term Increase”), (iii) one or more increases in the amount of the Revolving Commitments of any Class (each such increase, an “Incremental Revolving Commitment Increase”) and/or (iv) one or more additional Classes of Revolving Commitments (the “Additional/Replacement Revolving Commitments,” and, together with any Incremental Term Facility, Incremental Term Increase and the Incremental Revolving Commitment Increases, the “Incremental Facilities”); provided that (x) after giving effect to any Incremental Facility Amendment referred to below and at the time that any such Incremental Facility is made or effected, no Event of Default (or, in the case of the incurrence or provision of any Incremental Facility in connection with a Limited Condition Transaction, no Specified Event of Default) shall have occurred and be continuing and (y) in no event shall it be a condition to the effectiveness of, or borrowing under, any Incremental Facility that any representation or warranty of any Loan Party set forth herein be true and correct, except and solely to the extent required by the Additional Lenders providing such Incremental Facility. Notwithstanding anything to the contrary herein, the aggregate principal amount of the Incremental Facilities that can be incurred at any time shall not exceed the Incremental Cap at such time. Each Incremental Facility shall be in a minimum principal amount of $5,000,000 and integral multiples of $1,000,000 in excess thereof (unless the Borrowers and the Administrative Agent otherwise agree); provided that such amount may be less than $5,000,000 if such amount represents all the remaining availability under the aggregate principal amount of Incremental Facilities set forth above.

  • Initial Credit Extension The Lenders shall not be required to make the initial Credit Extension hereunder unless each of the following conditions is satisfied:

  • Conditions to Initial Credit Extension The obligation of each Lender to make a Credit Extension hereunder on the Closing Date is subject to satisfaction of the following conditions precedent, except as otherwise agreed between the Borrower and the Administrative Agent:

  • Conditions of Initial Credit Extensions The obligation of each Bank to make its initial Credit Extension hereunder is subject to the condition that the Agent shall have received on or before the Closing Date all of the following, in form and substance satisfactory to the Agent and each Bank, and in sufficient copies for each Bank:

  • Conditions to Credit Extensions SECTION 4.01. Conditions to Initial Credit Extension........................62 SECTION 4.02. Conditions to All Credit Extensions...........................67 ARTICLE V

  • Conditions of Initial Credit Extension The obligation of the L/C Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent:

  • The Commitments and Credit Extensions 2.01 The Loans.

  • Each Credit Extension The Lenders shall not be required to make any Credit Extension unless on the applicable Credit Extension Date:

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