New Incremental Commitments Clause Samples

New Incremental Commitments. (a) After the earlier of (i) the Delayed Draw Funding Date and (ii) the Delayed Draw Termination Date in case of Incremental Term Loans, the Borrower may from time to time, upon written notice by the Borrower to the Administrative Agent, specifying in reasonable detail the proposed terms thereof, request, from any Lender or any Additional Lender, to add one or more new term loan facilities to the Facilities (each, an “Incremental Term Facility”; and any commitment made by a Lender thereunder, an “Incremental Commitment”; and any advance made by a Lender thereunder, an “Incremental Term Loan”), in an aggregate principal amount not to exceed, at the time of incurrence, the Incremental Amount; provided that any such request for an Incremental Commitment shall be in a minimum amount of the lesser of (x) $5,000,000 and (y) the entire amount that may be requested under this Section 2.16. (b) Each such notice shall specify the identity of each Lender or other Person that is an Eligible Assignee (each, an “Incremental Term Lender” and collectively, the “New Lenders”) to whom the Borrower proposes any portion of such Incremental Commitments be allocated and the proposed amounts of such allocations; provided that (w) any Lender approached to provide all or a portion of the Incremental Commitments may elect or decline, in its sole discretion, to provide an Incremental Commitment (it being understood that there is no obligation to approach any existing Lenders to provide any Incremental Commitment) and (x) the Administrative Agent and the L/C Issuer shall have the right to consent (each such consent not to be unreasonably conditioned, withheld or delayed) to such Person’s providing such Incremental Commitments if such consent of the Administrative Agent and the L/C Issuer would be required under Section 10.07 for an assignment of Loans or Commitments to such Person. At the time of sending such notice to any Lenders that are approached to provide all or a portion of an Incremental Commitment, the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each applicable Lender is requested to respond. Any Lender not responding within such time period shall be deemed to have declined to participate in such Incremental Commitments. The Administrative Agent shall notify the Borrower and each applicable Lender of the Lenders’ responses to each request made under this Section 2.16. (c) If an Incremental Commitment is added in accorda...