Notification by Agent; Additional Lenders. On the last day of the time period specified in the Borrower’s notice as provided in Section 2.14(a), the Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the GSO Entities, to the extent that the existing Lenders decline to increase their respective outstanding portion of the Loans, as applicable, or decline to increase their respective outstanding portion of the Loans to the amount requested by the Borrower, the Agent and the Arranger, in consultation with the Borrower, will use their reasonable efforts to arrange for other Eligible Assignees to become a Lender hereunder (each such Lender, an “Additional Commitment Lender”) and to issue commitments in an amount equal to the amount of the increase in the Loans requested by the Borrower and not accepted by the existing Lenders (and the Borrower may also invite additional Eligible Assignees to become Lenders), provided, however, that without the consent of the Agent and the Arranger, at no time shall the commitment of any Additional Commitment Lender be less than $5,000,000.
Appears in 2 contracts
Samples: Second Lien Credit Agreement (Sequential Brands Group, Inc.), Second Lien Credit Agreement (Sequential Brands Group, Inc.)
Notification by Agent; Additional Lenders. On the last day of the time period specified in the Borrower’s notice as provided in Section 2.14(a), the Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the GSO Entities, to the extent that the existing Lenders decline to increase their respective outstanding portion of the Loans, as applicable, or decline to increase their respective outstanding portion of the Loans to the amount requested by the Borrower, the Agent and the Arranger, in consultation with the Borrower, will may use their commercially reasonable efforts to arrange for other Eligible Assignees to become a Lender hereunder (each such Lender, an “Additional Commitment Lender”) and to issue commitments in an amount equal to the amount of the increase in the Loans requested by the Borrower and not accepted by the existing Lenders (and the Borrower may also invite additional Eligible Assignees to become Lenders), provided, however, that without the consent of the Agent and the Arranger, at no time shall the commitment of any Additional Commitment Lender be less than $5,000,000.
Appears in 2 contracts
Samples: Credit Agreement (Sequential Brands Group, Inc.), Credit Agreement (Singer Madeline Holdings, Inc.)
Notification by Agent; Additional Lenders. On the last day of the time period specified in the Borrower’s notice as provided in Section 2.14(a), the Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the GSO Entities, to the extent that the existing Lenders decline to increase their respective outstanding portion of the LoansLoan, as applicable, or decline to increase their respective outstanding portion of the Loans Loan to the amount requested by the Borrower, the Agent and the Arranger, in consultation with the Borrower, will use their reasonable efforts to arrange for other Eligible Assignees to become a Lender hereunder (each such Lender, an “Additional Commitment Lender”) and to issue commitments in an amount equal to the amount of the increase in the Loans Loan requested by the Borrower and not accepted by the existing Lenders (and the Borrower may also invite additional Eligible Assignees to become Lenders), provided, however, that without the consent of the Agent and the Arranger, at no time shall the commitment of any Additional Commitment Lender be less than $5,000,000.
Appears in 1 contract
Samples: Second Lien Credit Agreement (Sequential Brands Group, Inc.)
Notification by Agent; Additional Lenders. On the last day of the time period specified in the Borrower’s notice as provided in Section 2.14(a), the Agent shall notify the Borrower and each Lender of the Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the GSO EntitiesKKR Representative, to the extent that the existing Lenders decline to increase their respective outstanding portion of the Loans, as applicable, or decline to increase their respective outstanding portion of the Loans to the amount requested by the Borrower, the Agent and the ArrangerKKR Representative, in consultation with the Borrower, will may use their commercially reasonable efforts to arrange for other Eligible Assignees to become a Lender hereunder (each such Lender, an “Additional Commitment Lender”) and to issue commitments in an amount equal to the amount of the increase in the Loans requested by the Borrower and not accepted by the existing Lenders (and the Borrower may also invite additional Eligible Assignees to become Lenders), provided, however, that without the consent of the Agent and the ArrangerKKR Representative, at no time shall the commitment of any Additional Commitment Lender be less than $5,000,000.
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