Common use of Notification by Administrative Agent; Acceding Lenders Clause in Contracts

Notification by Administrative Agent; Acceding Lenders. The Administrative Agent shall notify the Borrowers and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, in the event that the existing Lenders do not elect to furnish the entire requested increase, and subject to the approval of the Administrative Agent (and the L/C Issuer and Swing Line Lender only with respect to an increase in the Aggregate Commitments), which approvals shall not be unreasonably withheld, the Borrowers may also invite one or more additional commercial banks, other financial institutions or other Persons (in each case, an “Acceding Lender”) to become party to this Agreement as a Lender by entering into an Instrument of Accession in substantially the form of Exhibit H hereto (an “Instrument of Accession”) with the Borrowers and the Administrative Agent and assuming thereunder the rights and obligations (as the case may be) of a Revolving Lender hereunder, including without limitation, commitments to make Committed Loans and participate in the risk relating to Letters of Credit and Swing Line Loans and/or of a Term B Lender with respect to the obligation to fund a portion of an increase to the Term B Loan subject to the terms of this Section, and the Aggregate Commitments and/or the increase to the Term B Loan (as the case may be) shall be funded by the amount of such Acceding Lender’s interest all in accordance with the provisions of this Section. The Borrowers shall indemnify the Lenders and the Administrative Agent for any cost or expense incurred as a consequence of the reallocation of any Eurodollar Rate Loans to an Acceding Lender pursuant to the provisions of Section 3.05 hereof.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Casella Waste Systems Inc)

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Notification by Administrative Agent; Acceding Lenders. The Administrative Agent shall notify the Borrowers and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, in the event that the existing Lenders do not elect to furnish the entire requested increase, increase and subject to the approval of the Administrative Agent (and the L/C Issuer and Swing Line Lender only with respect to an increase in the Aggregate Commitments), which approvals shall not be unreasonably withheld, the Borrowers may also invite additional one or more additional commercial banks, other financial institutions or other Persons (in each case, an “Acceding Lender”) to become party to this Agreement as a Lender by entering into an Instrument of Accession in substantially the form of Exhibit H hereto (an “Instrument of Accession”) with the Borrowers and the Administrative Agent and assuming thereunder the rights and obligations (as the case may be) of a Revolving Lender hereunder, including without limitation, commitments Commitments to make Committed Loans and participate in the risk relating to Letters of Credit and Swing Line Loans and/or of a Term B Lender with respect to the obligation to fund a portion of an increase to the Term B Loan subject to the terms of this Section, and the Aggregate Commitments and/or the increase to the Term B Loan and (as the case may be) the Term B Loan shall be funded (each such increase or funding, as the case may be, referred to as a “Post-Closing Increase”) by the amount of such Acceding Lender’s interest all in accordance with the provisions of this Section. The Borrowers shall indemnify the Lenders and the Administrative Agent for any cost or expense incurred as a consequence of the reallocation of any Eurodollar Rate Loans to an Acceding Lender pursuant to the provisions of Section 3.05 hereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (Casella Waste Systems Inc)

Notification by Administrative Agent; Acceding Lenders. The Administrative Agent shall notify the Borrowers and each Lender of the Revolving Credit Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, in the event that the existing Lenders do not elect to furnish the entire requested increase, increase and subject to the approval of the Administrative Agent (and the L/C Issuer and Swing Line Lender only with respect to an increase in the Aggregate Commitments)Issuing Bank, which approvals shall not be unreasonably withheldwithheld or delayed, the Borrowers may also invite one or more additional commercial banks, other recognized financial institutions or other Persons (in each case, an “Acceding Lender”) to become party to this Agreement as a Revolving Credit Lender by entering into an Instrument of Accession in substantially the form of Exhibit H F hereto (an “Instrument of Accession”) with the Borrowers and the Administrative Agent and assuming thereunder the rights and obligations (as the case may be) of a Revolving Credit Lender hereunder, including without limitation, commitments to make Committed Revolving Credit Loans and participate in the risk relating to Letters of Credit and Swing Line Loans and/or of a Term B Lender with respect to the obligation to fund a portion of an increase to the Term B Loan subject to the terms of this SectionCredit, and the Aggregate Commitments and/or the shall be funded (each such increase to the Term B Loan (or funding, as the case may be, referred to as a “Post-Closing Increase”) shall be funded by the amount of such Acceding Lender’s interest all in accordance with the provisions of this Section. The Borrowers shall indemnify the applicable Lenders and the Administrative Agent for any cost or expense incurred as a consequence of the reallocation of any Eurodollar Rate Loans to an Acceding Lender pursuant to the provisions of Section 3.05 § 5.9 hereof.

Appears in 1 contract

Samples: Term Loan Agreement (Lojack Corp)

Notification by Administrative Agent; Acceding Lenders. The Administrative Agent shall notify the Borrowers and each Lender of the Revolving Credit Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, in the event that the existing Lenders do not elect to furnish the entire requested increase, increase and subject to the approval of the Administrative Agent (Required Lenders, to be granted in their sole and the L/C Issuer and Swing Line Lender only with respect to an increase in the Aggregate Commitments), which approvals shall not be unreasonably withheldabsolute discretion, the Borrowers may also invite one or more additional commercial banks, other recognized financial institutions or other Persons (in each case, an “Acceding Lender”) to become party to this Agreement as a Revolving Credit Lender by entering into an Instrument of Accession in substantially the form of Exhibit H F hereto (an “Instrument of Accession”) with the Borrowers and the Administrative Agent and assuming thereunder the rights and obligations (as the case may be) of a Revolving Credit Lender hereunder, including without limitation, commitments to make Committed Revolving Credit Loans and participate in the risk relating to Letters of Credit and Swing Line Loans and/or of a Term B Lender with respect to the obligation to fund a portion of an increase to the Term B Loan subject to the terms of this SectionCredit, and the Aggregate Commitments and/or the shall be funded (each such increase to the Term B Loan (or funding, as the case may be, referred to as a “Post-Closing Increase”) shall be funded by the amount of such Acceding Lender’s interest all in accordance with the provisions of this Section. The Borrowers shall indemnify the applicable Lenders and the Administrative Agent for any cost or expense incurred as a consequence of the reallocation of any Eurodollar Rate Loans to an Acceding Lender pursuant to the provisions of Section 3.05 § 5.9 hereof.

Appears in 1 contract

Samples: Agreement (Lojack Corp)

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Notification by Administrative Agent; Acceding Lenders. The Administrative Agent shall notify the Borrowers and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, in the event that the existing Lenders do not elect to furnish the entire requested increase, and subject Subject to the approval of the Administrative Agent (and the L/C Issuer and the Swing Line Lender only with respect to an increase in the Aggregate Commitments), which approvals shall not be unreasonably withheld, the Borrowers Borrower may also invite any Lender and/or one or more additional commercial banks, other financial institutions or other Persons (in each case, an “Acceding Lender”) to become party to this Agreement as a Lender. Such Acceding Lender shall become a Lender hereunder by entering into an Instrument instrument of Accession accession in substantially the form of Exhibit H E hereto (an “Instrument of 8884322.11 Accession”) with the Borrowers Borrower and the Administrative Agent and assuming thereunder the rights and obligations (as the case may be) of a Revolving Lender hereunderhereunder including, including without limitation, commitments to make Committed Loans and participate in the risk relating to Letters of Credit and Swing Line Loans and/or of a Term B A Lender or other term lender, as applicable, with respect to the obligation to fund a portion of an increase to the Term B Loan a new or replacement term loan subject to the terms of this Section, and the Aggregate Commitments and/or the increase to the Term B Loan new or replacement term loan (as the case may be) shall be funded by the amount of such Acceding Lender’s interest all in accordance with the provisions of this Section. The Borrowers shall indemnify the Lenders and the Administrative Agent for any cost or expense incurred as a consequence of the reallocation of any Eurodollar Rate Loans to an Acceding Lender pursuant to the provisions of Section 3.05 hereof.

Appears in 1 contract

Samples: Credit Agreement (Heritage-Crystal Clean, Inc.)

Notification by Administrative Agent; Acceding Lenders. The Administrative Agent shall notify the Borrowers and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, in the event that the existing Lenders do not elect to furnish the entire requested increase, and subject Subject to the approval of the Administrative Agent (and the L/C Issuer and the Swing Line Lender only with respect to an increase in the Aggregate Commitments), which approvals shall not be unreasonably withheld, the Borrowers Borrower may also invite any Lender and/or one or more additional commercial banks, other financial institutions or other Persons (in each case, an “Acceding Lender”) to become party to this Agreement as a Lender. Such Acceding Lender shall become a Lender hereunder by entering into an Instrument instrument of Accession accession in substantially the form of Exhibit H E hereto (an “Instrument of Accession”) with the Borrowers Borrower and the Administrative Agent and assuming thereunder the rights and obligations (as the case may be) of a Revolving Lender hereunderhereunder including, including without limitation, commitments to make Committed Loans and participate in the risk relating to Letters of Credit and Swing Line Loans and/or of a Term B A Lender or other term lender, as applicable, with respect to the obligation to fund a portion of an increase to the Term B Loan a new or replacement term loan subject to the terms of this Section, and the Aggregate Commitments and/or the increase to the Term B Loan new or replacement term loan (as the case may be) shall be funded by the amount of such Acceding Lender’s 's interest all in accordance with the provisions of this Section. The Borrowers shall indemnify the Lenders and the Administrative Agent for any cost or expense incurred as a consequence of the reallocation of any Eurodollar Rate Loans to an Acceding Lender pursuant to the provisions of Section 3.05 hereof.

Appears in 1 contract

Samples: Credit Agreement (Heritage-Crystal Clean, Inc.)

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