New Revolving Credit Commitments. (a) Effective as of the Restatement Effective Date (as defined below), each New Revolving Credit Lender agrees to provide (i) to Terex a New U.S. Revolving Credit Commitment and (ii) to the Borrowers a New Multicurrency Revolving Credit Commitment, in each case in the applicable amount set forth opposite such New Revolving Credit Lender’s name on the Commitment Schedule. (b) The New U.S. Revolving Credit Commitments and the extensions of credit made thereunder shall have the terms applicable to U.S. Revolving Credit Commitments and the U.S. Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. The New Multicurrency Revolving Credit Commitments and the extensions of credit made thereunder shall have the terms applicable to Multicurrency Revolving Credit Commitments and the Multicurrency Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. With effect from the Restatement Effective Date, (i) the New Revolving Credit Commitments shall constitute “Revolving Credit Commitments” and “Multicurrency Revolving Credit Commitments” or “U.S. Revolving Credit Commitments”, as applicable, and the loans made thereunder shall constitute “Revolving Loans” and “Multicurrency Revolving Loans” or “U.S. Revolving Loans”, as applicable, and (ii) the New Revolving Credit Lenders shall constitute “Lenders” and “Multicurrency Revolving Credit Lenders” or “U.S. Revolving Credit Lenders”, in each case for all purposes of the Amended Credit Agreement and the other Loan Documents.
Appears in 1 contract
Samples: Credit Agreement (Terex Corp)
New Revolving Credit Commitments. (a) Effective as of the Restatement Effective Date (as defined below), The Borrower and each New Revolving Credit Lender agrees hereby agree that, subject to provide the satisfaction of the conditions in Section 4 hereof, on the Amendment No. 1 Effective Date (i) and for the avoidance of doubt, after giving effect to Terex a the amendments set forth in Section 1), the New U.S. Revolving Credit Commitment and (ii) to the Borrowers a New Multicurrency Revolving Credit Commitment, in each case in the applicable amount set forth opposite of such New Revolving Credit Lender’s name on Lender shall become effective and the Commitment Schedule.
(b) The New U.S. Original Revolving Credit Commitments and being replaced pursuant to Section 2.15 of the extensions Credit Agreement shall be considered permanently terminated. Pursuant to Section 2.15 of credit made thereunder shall have the terms applicable to U.S. Revolving Credit Commitments and the U.S. Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. The New Multicurrency Revolving Credit Commitments and the extensions of credit made thereunder shall have the terms applicable to Multicurrency Revolving Credit Commitments and the Multicurrency Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. With effect from the Restatement Effective Date, (i) the New Revolving Credit Commitments shall constitute “be Revolving Credit Commitments” Commitments for all purposes under the Credit Agreement and “Multicurrency each of the other Credit Documents and shall have terms identical to the Original Revolving Credit Commitments” or “U.S. Revolving Commitments outstanding under the Credit Commitments”, as applicable, and Agreement immediately prior to the loans made thereunder shall constitute “Revolving Loans” and “Multicurrency Revolving Loans” or “U.S. Revolving Loans”, as applicable, and date hereof (iibut after giving effect to all amendments hereunder).
(b) the Each New Revolving Credit Lenders shall constitute “Lenders” Lender acknowledges and “Multicurrency agrees that, upon the Amendment No. 1 Effective Date, such New Revolving Credit LendersLender shall be a “Lender” or “U.S. Revolving Credit Lenders”under, in each case and for all purposes of of, the Amended Credit Agreement and the other Loan Credit Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender thereunder.
(c) After giving effect to such New Revolving Credit Commitments, the Revolving Credit Commitment of each Revolving Credit Lender shall be as set forth on Schedule 1.1(c) hereto (and such Schedule 1.1(c) shall supersede any previous Schedule 1.1(c) to the Credit Agreement).
(d) The Borrower shall prepay in full the outstanding principal amount of any Revolving Credit Loans outstanding immediately prior to the Amendment No. 1 Effective Date, together with all accrued and unpaid interest thereon and all accrued and unpaid fees in respect of the Revolving Credit Commitments outstanding immediately prior to the Amendment No. 1 Effective Date with the proceeds of the New Revolving Credit Loans. Any Letters of Credit outstanding immediately prior to the Amendment No. 1 Effective Date shall be deemed to be issued under the New Revolving Credit Commitments.
Appears in 1 contract
Samples: Credit Agreement (RBC Bearings INC)
New Revolving Credit Commitments. (a) Effective as of the Restatement Effective Date (as defined below), each Each New Revolving Credit Loan Lender party hereto hereby agrees to commit to provide (i) to Terex a New U.S. Revolving Credit Commitment and (ii) to the Borrowers a New Multicurrency its respective Incremental Revolving Credit Commitment, in each case in the applicable amount as set forth opposite such New Revolving Credit Lender’s name on Schedule A annexed hereto, on the Commitment Scheduleterms and subject to the conditions set forth below.
(b) The Each New U.S. Revolving Credit Commitments and the extensions of credit made thereunder shall have the terms applicable to U.S. Revolving Credit Commitments and the U.S. Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. The New Multicurrency Revolving Credit Commitments and the extensions of credit made thereunder shall have the terms applicable to Multicurrency Revolving Credit Commitments and the Multicurrency Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. With effect from the Restatement Effective Date, Loan Lender (i) confirms that it has received a copy of the Credit Agreement and the other Credit Documents and the exhibits thereto, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement; (ii) agrees that it will, independently and without reliance upon the Administrative Agent, the Collateral Agent, any other New Revolving Loan Lender or any other Lender or Agent and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (iii) appoints and authorizes the Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Credit Documents as are delegated to the Administrative Agent or the Collateral Agent, as the case may be, by the terms thereof, together with such powers as are reasonably incidental thereto; and (iv) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as an Incremental Revolving Loan Lender.
(c) The New Revolving Credit Commitments shall constitute an increase to the Revolving Credit Commitments under the Revolving Credit Facility outstanding under the Credit Agreement immediately prior to the Amendment Effective Date. Each New Revolving Loan Lender acknowledges and agrees (i) pursuant to Section 2.14(b) of the Credit Agreement, to purchase from each of the existing Revolving Credit Lenders, at the principal amount thereof, such interests in the Revolving Loans outstanding on the Amendment Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, the Revolving Loans shall be held by existing Revolving Credit Lenders and New Revolving Loan Lenders ratably in accordance with their Revolving Credit Commitments after giving effect to the addition of such New Revolving Credit Commitments to the Revolving Credit Commitments,(ii) that upon the Amendment Effective Date, each New Revolving Loan Lender will automatically acquire from each of the existing Revolving Credit Lenders L/C Participations in respect of existing Letters of Credit and participations in any outstanding Swingline Loans as shall be necessary in order that, after giving effect to all such acquisitions, the L/C Participations and Swingline Exposure shall be held by existing Revolving Credit Lenders and New Revolving Loan Lenders ratably in accordance with their Revolving Credit Commitments after giving effect to the addition of such New Revolving Credit Commitments to the Revolving Credit Commitments, and (iii) that upon its execution of this Agreement and the making of Incremental Revolving Loans that such New Revolving Loan Lender shall become a “Lender” and “Revolving Credit CommitmentsLender” and “Multicurrency Revolving Credit Commitments” or “U.S. Revolving Credit Commitments”, as applicableunder, and the loans made thereunder shall constitute “Revolving Loans” and “Multicurrency Revolving Loans” or “U.S. Revolving Loans”, as applicable, and (ii) the New Revolving Credit Lenders shall constitute “Lenders” and “Multicurrency Revolving Credit Lenders” or “U.S. Revolving Credit Lenders”, in each case for all purposes of of, the Amended Credit Agreement and the other Loan Credit Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender thereunder.
(d) Except as set forth in this Agreement, the New Revolving Loans shall otherwise be subject to all such provisions of the Credit Agreement and the other Credit Documents applicable to Initial Revolving Credit Loans, as amended by this Agreement.
Appears in 1 contract
Samples: First Amendment and Second Joinder Agreement (PRA Health Sciences, Inc.)
New Revolving Credit Commitments. (a) Effective as of the Restatement Effective Date (as defined below), each New Revolving Credit Lender agrees to provide (i) to Terex a New U.S. Revolving Credit Commitment and (ii) to the Borrowers a New Multicurrency Revolving Credit Commitment, in each case in the applicable amount set forth opposite such New Revolving Credit Lender’s name The parties hereby agree that on the Commitment Schedule.
(b) The New U.S. Revolving Credit Commitments and the extensions of credit made thereunder shall have the terms applicable to U.S. Revolving Credit Commitments and the U.S. Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. The New Multicurrency Revolving Credit Commitments and the extensions of credit made thereunder shall have the terms applicable to Multicurrency Revolving Credit Commitments and the Multicurrency Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. With effect from the Restatement Incremental Effective Date, (i) the Total Revolving Credit Commitment and the aggregate amount of the Revolving Credit Commitments under the Credit Agreement shall increase by the amount of the 2016 New Revolving Credit Commitments shall constitute “Commitment of the 2016 New Revolving Credit Commitments” and “Multicurrency Revolving Credit Commitments” or “U.S. Revolving Credit Commitments”Loan Lender provided hereunder, as applicable, and the loans made thereunder shall constitute “Revolving Loans” and “Multicurrency Revolving Loans” or “U.S. Revolving Loans”, as applicable, and (ii) there shall be an automatic adjustment to the Revolving Credit Commitment Percentage of each Revolving Credit Lender in the aggregate Revolving Letter of Credit Exposure (and Revolving L/C Participations) to reflect the new Revolving Credit Percentage of each Revolving Credit Lender in the aggregate Revolving Letter of Credit Exposure (and Revolving L/C Participations) resulting from the 2016 Revolving Commitment Increase effected hereby and (iii) the Borrower and the Administrative Agent, as the case may be, shall take all actions, if any, contemplated by clause (b)(x) of Section 2.14 of the Credit Agreement (including any prepayments and reborrowings of Revolving Credit Loans requested by the Administrative Agent after giving effect to the 2016 Revolving Commitment Increase).
(b) The 2016 New Revolving Credit Lenders Commitment shall constitute “Lenders” and “Multicurrency (i) become a part of the existing Class of Revolving Credit Lenders” or “U.S. Revolving Credit Lenders”, in each case Commitments for all purposes of the Amended Credit Agreement and the other Loan Credit Documents and (ii) together with all related Revolving Credit Exposure, be subject to the same prepayment provisions, Maturity Date and other terms and conditions applicable to the existing Revolving Credit Commitments and Revolving Credit Loans (and related Revolving Credit Exposure) under the Credit Agreement and the other Credit Documents.
Appears in 1 contract
Samples: Credit Agreement
New Revolving Credit Commitments. (a) Effective as of Subject to the Restatement Effective Date (as defined below)terms and conditions hereof, each New Revolving Credit Lender severally agrees to provide make revolving credit loans (each, a "New Revolving Credit Loan") in U.S. Dollars to the Company from time to time during the New Revolving Credit Commitment Period so long as after giving effect thereto (i) to Terex a the Available New U.S. Revolving Credit Commitment of each New Revolving Credit Lender is greater than or equal to zero and (ii) to the Borrowers a New Multicurrency Revolving Credit Commitment, in each case in the applicable amount set forth opposite such Aggregate New Revolving Credit Lender’s name on Outstanding of all New Revolving Credit Lenders does not exceed the Aggregate New Revolving Credit Commitments. During the New Revolving Credit Commitment SchedulePeriod, the Company may use the New Revolving Credit Commitments by borrowing, prepaying the New Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof.
(b) The New U.S. Revolving Credit Commitments and the extensions of credit made thereunder shall have the terms applicable to U.S. Revolving Credit Commitments and the U.S. Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. The New Multicurrency Revolving Credit Commitments and the extensions of credit made thereunder shall have the terms applicable to Multicurrency Revolving Credit Commitments and the Multicurrency Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. With effect from the Restatement Effective Date, (i) During the New Revolving Credit Commitments Commitment Period, the Company shall constitute “fully borrow under the Existing New Revolving Credit Commitments” and “Multicurrency Revolving Credit Commitments” or “U.S. Revolving Credit Commitments”, as applicable, and the loans made thereunder shall constitute “Revolving Loans” and “Multicurrency Revolving Loans” or “U.S. Revolving Loans”, as applicable, and (ii) Commitments prior to making any borrowing under the New Revolving Credit Lenders shall constitute “Lenders” and “Multicurrency Commitment Increases. On the New Revolving Credit Lenders” or “U.S. Conversion Date, any Interest Period then applicable to the New Revolving Credit Lenders”Loans then outstanding shall be terminated and such New Revolving Credit Loans shall be continued with new Interest Periods commencing on such date so that all New Revolving Credit Lenders will be ratable as to each Interest Period based upon their pro rata share of New Revolving Credit Loans then outstanding on such date. Such continuation shall be subject to the provisions of subsection 5.11.
(c) The New Revolving Credit Loans may from time to time be (i) Eurodollar Loans, (ii) ABR Loans or (iii) a combination thereof, as determined by the Company and notified to the Administrative Agent in each case for all purposes of the Amended Credit Agreement accordance with subsections 2.11 and the other Loan Documents5.
Appears in 1 contract
New Revolving Credit Commitments. (a) Effective as of The Borrower may, by written notice to the Restatement Effective Date Administrative Agent, elect to request prior to the Revolving Credit Termination Date, an increase to the existing Revolving Credit Commitments (as defined below)any such increase, each the "New Revolving Credit Commitments"), by an amount not in excess of $25,000,000 (or such lesser amount which shall be approved by the Administrative Agent). Each such notice shall specify (A) the date (each, an "Increased Amount Date") on which the Borrower proposes that the New Revolving Credit Commitments shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender agrees to provide or other Person that is an Assignee (ieach, a "New Revolving Credit Lender") to Terex a New U.S. Revolving Credit Commitment and (ii) to whom the Borrowers a New Multicurrency Revolving Credit Commitment, in each case in the applicable amount set forth opposite Borrower proposes any portion of such New Revolving Credit Lender’s name on Commitments be allocated and the Commitment Schedule.
(b) The amounts of such allocations; provided that any Lender approached to provide all or a portion of the New U.S. Revolving Credit Commitments and the extensions of credit made thereunder shall have the terms applicable may elect or decline, in its sole discretion, to U.S. provide a New Revolving Credit Commitment. Such New Revolving Credit Commitments shall become effective, as of such Increased Amount Date; provided that (1) no Default or Event of Default shall exist on such Increased Amount Date before or after giving effect to such New Revolving Credit Commitments; (2) the Borrower and its Subsidiaries shall be in pro forma compliance with each of the U.S. Revolving Loans and other extensions of credit made thereunder covenants set forth in Section 7.1 as of the Amended Credit Agreement. The last day of the most recently ended fiscal quarter after giving effect to such New Multicurrency Revolving Credit Commitments and the extensions of credit made thereunder shall have the terms applicable to Multicurrency Revolving Credit Commitments and the Multicurrency Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. With effect from the Restatement Effective Date, Commitments; (i3) the New Revolving Credit Commitments shall constitute “be effected pursuant to one or more Assignment and Acceptance Agreements executed and delivered by the Borrower and the Administrative Agent, and each of which shall be recorded in the Register and shall be subject to the requirements set forth in Section 2.20(d) through (f); (4) the Borrower shall make any payments required pursuant to Section 2.21 in connection with the New Revolving Credit Commitments” ; and “Multicurrency (5) the Borrower shall deliver or cause to be delivered any legal opinions or other documents reasonably requested by the Administrative Agent in connection with any such transaction (including, without limitation, confirmation that the obligations of the Credit Parties with respect to such New Revolving Credit Commitments (and any Loans or extensions of credit thereunder) are secured by the Collateral and the priority of the Administrative Agent's Lien in such Collateral has not been affected by the New Revolving Credit Commitments” or “U.S. .
(b) On any Increased Amount Date on which New Revolving Credit Commitments”Commitments are effected, as applicablesubject to the satisfaction of the foregoing terms and conditions, (a) each of the Revolving Credit Lenders shall assign to each of the New Revolving Credit Lenders, and the loans made thereunder shall constitute “Revolving Loans” and “Multicurrency Revolving Loans” or “U.S. Revolving Loans”, as applicable, and (ii) each of the New Revolving Credit Lenders shall constitute “Lenders” and “Multicurrency purchase from each of the Revolving Credit Lenders” or “U.S. , at the principal amount thereof (together with accrued interest), such interests in the Revolving Credit Loans outstanding on such Increased Amount Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Revolving Credit Loans will be held by existing Revolving Credit Lenders and New Revolving Credit Lenders ratably in accordance with their Revolving Credit Commitments after giving effect to the addition of such New Revolving Credit Commitments to the Revolving Credit Commitments, (b) each New Revolving Credit Commitment shall be deemed for all purposes a Revolving Credit Commitment and each Loan made thereunder (a "New Revolving Credit Loan") shall be deemed, for all purposes, a Revolving Credit Loan and (c) each New Revolving Credit Lender shall become a Lender with respect to the New Revolving Credit Commitment and all matters relating thereto.
(c) The Administrative Agent shall notify Lenders promptly upon receipt of the Borrower's notice of each Increased Amount Date and in respect thereof (y) the New Revolving Credit Commitments and the New Revolving Credit Lenders”, and (z) in the case of each notice to any Revolving Credit Lender, the respective interests in such Revolving Credit Lender's Revolving Credit Loans, in each case for all purposes subject to the assignments contemplated by this Section.
(d) The terms and provisions of the Amended New Revolving Credit Loans shall be identical to the Revolving Credit Loans. Each Assignment and Acceptance Agreement may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan DocumentsDocuments as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provision of this Section 2.25.
Appears in 1 contract
New Revolving Credit Commitments. (a) Effective Subject to the terms and conditions set forth herein, effective as of the Restatement Second Refinancing Amendment Effective Date, all 2011 Revolving Credit Commitments (including all 2011 Dollar Revolving Credit Commitments and 2011 Multicurrency Revolving Credit Commitments) in effect immediately prior to the Second Refinancing Amendment Effective Date will be terminated pursuant to Section 2.06 of the Credit Agreement; provided, however, that the foregoing shall not affect (as defined below)i) the obligations of any L/C Issuer or any Letters of Credit outstanding immediately prior to the Second Refinancing Amendment Effective Date or (ii) the obligation of the Swing Line Lender to make Swing Line Loans pursuant to Section 2.04 of the Restated Credit Agreement or any Swing Line Loans outstanding, immediately prior to the Second Refinancing Amendment Effective Date.
(b) Subject to the terms and conditions set forth herein, on the Second Refinancing Amendment Effective Date, simultaneously with the termination of the 2011 Revolving Credit Commitments pursuant to paragraph (a) above, (i) each New Revolving Credit Lender agrees shall become or continue to provide be, as applicable, a 2013 Revolving Credit Lender, a Revolving Credit Lender and a Lender under the Restated Credit Agreement, and shall have all the rights and obligations of a Lender holding a Revolving Credit Commitment thereunder, and (iii) to Terex a New U.S. the 2013 Dollar Revolving Credit Commitment and (ii) to the Borrowers a New 2013 Multicurrency Revolving Credit CommitmentCommitment of each New Revolving Credit Lender will be the amount of such commitment, in each case in the applicable amount if any, set forth opposite with respect to such New Revolving Credit Lender’s name Lender on the Commitment ScheduleSchedule I hereto.
(bc) The New U.S. Revolving Credit Commitments and the extensions of credit made thereunder shall have Subject to the terms applicable to U.S. Revolving Credit Commitments and the U.S. Revolving Loans and other extensions of credit made thereunder conditions set forth in herein, pursuant to Sections 2.15 and 2.18 of the Amended Credit Agreement. The New Multicurrency Revolving Credit Commitments and , effective as of the extensions of credit made thereunder shall have the terms applicable to Multicurrency Revolving Credit Commitments and the Multicurrency Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. With effect from the Restatement Second Refinancing Amendment Effective Date, for all purposes of the Loan Documents, (a) (i) the New Revolving Credit Commitments shall constitute “2013 Revolving Credit Commitments”, “Revolving Credit Commitments”, “Other Revolving Credit Commitments”, “Commitments” and to the extent the New Revolving Credit Commitments exceed the Credit Agreement Refinancing Indebtedness, a “Revolving Commitment Increase”, (ii) the new Dollar Revolving Credit Commitments shall constitute “2013 Dollar Revolving Credit Commitments” and “Revolving Credit Commitments”, and the new Multicurrency Revolving Credit Commitments shall constitute “2013 Multicurrency Revolving Credit Commitments” or and “U.S. Revolving Credit Commitments”, as applicable(iii) each New Revolving Credit Loan shall constitute a “2013 Revolving Credit Loan”, a “Revolving Credit Loan” and a “Loan”, and the loans made thereunder (iii) each New Dollar Revolving Credit Loan shall constitute a “2013 Dollar Revolving LoansCredit Loan”, a “Dollar Revolving Credit Loan” and a “Loan” and each New Multicurrency Revolving Credit Loan shall constitute a “2013 Multicurrency Revolving Credit Loan”, a “Multicurrency Revolving LoansCredit Loan” or and a “U.S. Revolving LoansLoan”, as applicableand (b) (i) each New Revolving Credit Lender shall become an “Additional Lender” and a “Revolving Commitment Increase Lender”, and shall have all the rights and obligations of a Lender holding a Revolving Credit Commitment, (ii) each New Dollar Revolving Credit Lender shall become a “2013 Dollar Revolving Credit Lender” (if such New Dollar Revolving Credit Lender is not already a 2013 Dollar Revolving Credit Lender prior to the effectiveness of this Amendment), and shall have all the rights and obligations of a Lender holding a 2013 Dollar Revolving Credit Commitment, and (iii) each New Multicurrency Revolving Credit Lender shall become a “2013 Multicurrency Revolving Credit Lender” (if such New Multicurrency Revolving Credit Lender is not already a 2013 Multicurrency Revolving Credit Lender prior to the effectiveness of this Amendment), and shall have all the rights and obligations of a Lender holding a 2013 Multicurrency Revolving Credit Commitment, and (c) all Letters of Credit and Swing Line Loans outstanding immediately prior to the Second Refinancing Amendment Effective Date shall continue to be Letters of Credit and Swing Line Loans issued pursuant to the Restated Credit Agreement.
(d) On the Second Refinancing Amendment Effective Date, each New Revolving Credit Lender with a New Revolving Credit Commitment will automatically and without further act be (i) deemed to have acquired a participation in each Letter of Credit outstanding on the Second Refinancing Amendment Effective Date in accordance with Section 2.03(c) of the Restated Credit Agreement and (ii) obligated to acquire and fund participations in any Swing Line Loans outstanding (if any) on the Second Refinancing Amendment Effective Date in accordance with the provisions of Section 2.04(c) of the Restated Credit Agreement such that, after giving effect to each such deemed assignment and assumption of participations, the percentage of the aggregate outstanding participations under the Restated Credit Agreement in Letters of Credit and Swing Line Loans held by each Revolving Credit Lender (including each 2013 Revolving Credit Lender holding 2013 Revolving Credit Commitments immediately prior to the Second Refinancing Amendment Effective Date and each New Revolving Credit Lender) will equal the percentage of the aggregate Revolving Credit Commitments following the Second Refinancing Amendment Effective Date (including all 2013 Revolving Credit Commitments outstanding immediately prior to the Second Refinancing Amendment Effective Date and all New Revolving Credit Commitments) of all Revolving Credit Lenders represented by such Revolving Credit Lender’s Revolving Credit Commitment. The Swing Line Lender and each L/C Issuer consent to the foregoing.
(e) If there are any 2011 Revolving Credit Loans or 2013 Revolving Credit Loans outstanding immediately prior to the Second Refinancing Amendment Effective Date (the “Existing Revolving Credit Loans”), such Existing Revolving Credit Loans shall be prepaid in full by the Borrowers on the Second Refinancing Amendment Effective Date, which prepayment shall be accompanied by accrued and unpaid fees and interest on the Revolving Credit Loans being prepaid and any funding losses payable in accordance with Section 3.05 of the Restated Credit Agreement. Such prepayment may be financed (subject to satisfaction of applicable borrowing conditions under Section 4.02 of the Restated Credit Agreement) with the proceeds of Revolving Credit Loans made on such date by the Revolving Credit Lenders. The Administrative Agent hereby waives the requirement that the Company provide advance notice of such repayment pursuant to Section 2.05(a). The Borrowers shall, on the Second Refinancing Amendment Effective Date, pay to the Administrative Agent, for the accounts of the Persons that are Revolving Credit Lenders holding outstanding Revolving Credit Loans immediately prior to the Second Refinancing Amendment Effective Date, all interest and fees accrued to the Second Refinancing Amendment Effective Date with respect to such Revolving Credit Loans and, to the extent invoiced prior to the Second Refinancing Amendment Effective Date, any funding losses payable in accordance with Section 3.05 of the Restated Credit Agreement.
(f) Each Lender, by delivering its signature page to this Amendment on the Second Refinancing Amendment Effective Date shall be deemed to have acknowledged receipt of, and consented to and approved, each Loan Document and each other document required to be delivered to, or be approved by or satisfactory to, the Administrative Agent or any Class of Lenders on the Second Refinancing Amendment Effective Date. The commitments of the New Revolving Credit Lenders shall constitute “Lenders” are several, and “Multicurrency no New Revolving Credit Lenders” or “U.S. Lender shall be responsible for any other New Revolving Credit Lenders”, in each case for all purposes of the Amended Lender’s failure to fund Revolving Credit Agreement and the other Loan DocumentsLoans.
Appears in 1 contract
Samples: Second Refinancing and Incremental Amendment (Sungard Capital Corp Ii)
New Revolving Credit Commitments. (a) Effective as of On and after the Restatement Amendment No. 2 Effective Date (as defined below), (i) all Revolving Credit Commitments under the Credit Agreement shall be permanently terminated in full and the Existing Revolving Credit Lenders, who constitute Required Class Lenders with respect to the Revolving Credit Commitments prior to giving effect to the Amendment, hereby consent to the waiver of the delivery of the termination notice required under Section 2.07(a) of the Credit Agreement pursuant to clause (6) of the second proviso to Section 11.01(a) of the Credit Agreement, (ii)(x) each New Revolving Credit Lender severally agrees to provide (i) to Terex a New U.S. Revolving Credit Commitment and (ii) to the Borrowers a New Multicurrency Revolving Credit Commitment, in each case in the applicable amount set forth opposite such its New Revolving Credit Lender’s name Commitments to the Borrower, subject to the terms and conditions set forth in the Amended Credit Agreement and (y) Schedule 2.01 of the Credit Agreement shall be replaced with Schedule I hereto, (iii) each Letter of Credit in existence on the Amendment No. 2 Effective Date shall be deemed to have been issued under the Amended Credit Agreement under the New Revolving Credit Commitments in reliance upon the agreement of the New Revolving Credit Lenders set forth in Section 2.04 of the Amended Credit Agreement, (iv) the Swing Line Lender (as defined in the Amended Credit Agreement) hereby agrees to provide Swing Line Commitments in an amount up to the Swing Line Sublimit (as defined in the Amended Credit Agreement) and (v)(x) each L/C Issuer (as defined in the Amended Credit Agreement) hereby agrees to issue Letters of Credit in an amount up to its L/C Commitment Schedule(as defined in the Amended Credit Agreement) and (y) Schedule 2.04 of the Credit Agreement shall be replaced with Schedule II hereto.
(b) The New U.S. Revolving Credit Commitments Agreement is, effective as of the Amendment No. 2 Effective Date (as defined below), hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the extensions of credit made thereunder shall have double-underlined text (indicated textually in the terms applicable to U.S. Revolving Credit Commitments and same manner as the U.S. Revolving Loans and other extensions of credit made thereunder following example: double-underlined text) as set forth in the Amended pages of the Credit AgreementAgreement attached as Exhibit A hereto.
(c) With effect from Amendment No. The New Multicurrency Revolving Credit Commitments and the extensions 2 Effective Date, for all purposes of credit made thereunder shall have the terms applicable to Multicurrency Revolving Credit Commitments and the Multicurrency Revolving Loans and other extensions of credit made thereunder set forth in the Amended Credit Agreement. With effect from , each New Revolving Credit Lender shall be deemed to be an “Initial Revolving Credit Lender”, a “Revolving Credit Lender” and a “Lender” under the Restatement Effective Date, (i) Amended Credit Agreement and the New Revolving Credit Commitments shall be deemed to constitute “Initial Revolving Credit Commitments”, “Revolving Credit Commitments” and “Multicurrency Revolving Credit Commitments” or “U.S. Revolving Credit Commitments”, as applicable, and the loans made thereunder shall constitute “Revolving Loans” and “Multicurrency Revolving Loans” or “U.S. Revolving Loans”, as applicable, and (ii) the New Revolving Credit Lenders shall constitute “Lenders” and “Multicurrency Revolving Credit Lenders” or “U.S. Revolving Credit Lenders”, in each case for all purposes of under the Amended Credit Agreement and the other Loan DocumentsAgreement.
Appears in 1 contract