Common use of No Incremental Commitment Clause in Contracts

No Incremental Commitment. Agreement shall become effective unless the Administrative Agent has received (i) a certificate executed by a Responsible Officer of the Borrower to the effect that no Event of Default has occurred and is continuing (subject to Section 1.3), and (ii) such additional Security Documents, legal opinions, board resolutions, certificates and other documentation as may be required by such Incremental Commitment Agreement or reasonably requested by the Administrative Agent.

Appears in 4 contracts

Samples: Credit Agreement (Advanced Drainage Systems, Inc.), Third Amendment Agreement (KAR Auction Services, Inc.), Incremental Commitment Agreement and Second Amendment (KAR Auction Services, Inc.)

AutoNDA by SimpleDocs

No Incremental Commitment. Agreement shall become effective unless the Administrative Agent has received (i) a certificate executed by a Responsible Officer of the Applicable Borrower to the effect that no Event of Default has occurred and is continuing (subject to Section 1.3), and (ii) such additional Security Documents, customary legal opinions, board resolutions, certificates and other documentation (consistent in all material respects with the documents delivered under Section 6.1 on the Closing Date) as may be required by such Incremental Commitment Agreement or reasonably requested by the Administrative Agent.

Appears in 1 contract

Samples: First Amendment Agreement (OPENLANE, Inc.)

AutoNDA by SimpleDocs

No Incremental Commitment. Agreement shall become effective unless the Administrative Agent has received (i) a certificate executed by a Responsible Officer of the Borrower to the effect that no Event of Default has occurred the conditions set forth in Sections 6.2(a) and 6.2(b) are satisfied on the date the Incremental Commitment Agreement is continuing (subject delivered to Section 1.3), the Administrative Agent and on its proposed effective date and (ii) such additional Security Documents, legal opinions, board resolutions, certificates and other documentation as may be required by such Incremental Commitment Agreement or reasonably requested by the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Itron Inc /Wa/)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!