Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 34 contracts
Samples: Credit Agreement (Hilton Worldwide Holdings Inc.), Credit Agreement (Hilton Worldwide Holdings Inc.), Credit Agreement (Hilton Worldwide Holdings Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(l)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and the same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personso required to be repaid in full on such earliest maturity date.
Appears in 33 contracts
Samples: Credit Agreement (Nexstar Media Group, Inc.), Credit Agreement (Nexstar Media Group, Inc.), Credit Agreement (Nexstar Media Group, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or more other tranches of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date (each a “Non-Expiring shall not have occurred are then in effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(d)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (xii) to the extent that the amount of such reallocation would cause the aggregate credit exposure not reallocated pursuant to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and preceding clause (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingi), the Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.17. If, for any reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving Credit Lenders holding under the Expiring maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Revolving Credit Commitments at shall have no effect upon (and shall not diminish) the maturity date percentage participations of the Expiring Revolving Credit Commitment or if the Loans have been accelerated prior to the Lenders in any Letter of Credit issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between with the Swing Line Lender and Lenders under the Borrower, without the consent of any other Personextended tranches.
Appears in 23 contracts
Samples: Credit Agreement (Phibro Animal Health Corp), Credit Agreement (Nexstar Media Group, Inc.), Credit Agreement (Nexstar Media Group, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Letter of Credit Expiration Date in respect of any tranche of Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (i) if consented to by the “Expiring Letter of Credit Commitment”) at a time when another tranche Issuer which issued such Letter of Credit, if one or more other tranches of Revolving Credit Commitments is or in respect of which the Letter of Credit Expiration Date shall not have so occurred are then in effect with a longer maturity date (each a “Non-Expiring effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan for which consent has been obtained shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Sections 3.3 and 3.4) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount in respect of such reallocation would cause the non-terminating tranches up to an aggregate credit exposure amount not to exceed the aggregate amount of the unutilized Revolving Credit Commitments thereunder at such Non-Expiring Credit Commitments, immediately prior to such reallocation the time (it being understood that no partial face amount of Swing Line Loans to any Letter of Credit may be reallocated equal to such excess shall be repaid or Cash Collateralized so reallocated) and (yii) notwithstanding to the foregoing, if a Default or Event of Default has occurred and is continuingextent not reallocated pursuant to immediately preceding clause (i), the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Cash Collateralize any such Letter of Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitmentin accordance with Section 3.8. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans Letters of Credit may be reduced as agreed between the Swing Line Lender Letter of Credit Issuer and the Borrower, without the consent of any other Person.
Appears in 20 contracts
Samples: Credit Agreement (BrightView Holdings, Inc.), Credit Agreement (National Vision Holdings, Inc.), First Lien Credit Agreement (Focus Financial Partners Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or more other tranches of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date (each a “Non-Expiring shall not have occurred are then in effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(d)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided in respect of such non‑terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (xii) to the extent that the amount of such reallocation would cause the aggregate credit exposure not reallocated pursuant to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and preceding clause (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingi), the Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.17. If, for any reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving Credit Lenders holding under the Expiring maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Revolving Credit Commitments at shall have no effect upon (and shall not diminish) the maturity date percentage participations of the Expiring Revolving Credit Commitment or if the Loans have been accelerated prior to the Lenders in any Letter of Credit issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between with the Swing Line Lender and Lenders under the Borrower, without the consent of any other Personextended tranches.
Appears in 16 contracts
Samples: Credit Agreement (Nexstar Media Group, Inc.), Credit Agreement (Nexstar Media Group, Inc.), Credit Agreement (Nexstar Media Group, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Letter of Credit Expiration Date in respect of any tranche of Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (i) if consented to by the “Expiring Letter of Credit Commitment”) at a time when another tranche Issuer which issued such Letter of Credit, if one or more other tranches of Revolving Credit Commitments is or in respect of which the Letter of Credit Expiration Date shall not have so occurred are then in effect with a longer maturity date (each a “Non-Expiring effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan for which consent has been obtained shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Sections 3.3 and 3.4) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount in respect of such reallocation would cause the non-terminating tranches up to an aggregate credit exposure amount not to exceed the aggregate amount of the unutilized Revolving Credit Commitments thereunder at such Non-Expiring Credit Commitments, immediately prior to such reallocation the time (it being understood that no partial face amount of Swing Line Loans to any Letter of Credit may be reallocated equal to such excess shall be repaid or Cash Collateralized so reallocated) and (yii) notwithstanding to the foregoing, if a Default or Event of Default has occurred and is continuingextent not reallocated pursuant to immediately preceding clause (i), the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Cash Collateralize any such Letter of Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitmentin accordance with Section 3.8. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans Letters of Credit may be reduced as agreed between the Swing Line Lender Letter of Credit Issuers and the Borrower, without the consent of any other Person.
Appears in 12 contracts
Samples: Intercreditor Agreement (OneStream, Inc.), First Lien Credit Agreement (HireRight Holdings Corp), Credit Agreement (Applovin Corp)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Participating Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of other Participating Revolving Credit Commitments is or are in effect (or will automatically be in effect upon such maturity) with a longer maturity date (each a “Nonnon-Expiring Credit Commitment” and and, collectively, the “Nonnon-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Loan on the earliest occurring maturity date such Swing Line Loan Maturity Date shall be deemed reallocated to the tranche or tranches of the Nonnon-Expiring Credit Commitments on a pro rata basis; provided that (xi) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Nonnon-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(m)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized in a manner reasonably satisfactory to the applicable Swing Line Lender and (yii) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the applicable Borrower shall still be obligated to pay Swing Line Loans allocated to the Participating Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date Maturity Date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 11 contracts
Samples: Credit Agreement (Liberty Latin America Ltd.), Credit Agreement (Liberty Latin America Ltd.), Credit Agreement (Liberty Latin America Ltd.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(k)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personso required to be repaid in full on such earliest maturity date.
Appears in 11 contracts
Samples: Credit Agreement (CEB Inc.), Consent (CEB Inc.), Credit Agreement (CEB Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any Tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other Tranches of Revolving Credit Commitments in respect of which the Maturity Date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating Tranches up to an aggregate amount not to exceed the aggregate principal amount of the unused Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and to the extent any Letters of Credit are not able to be reallocated pursuant to this clause (l) and there are outstanding Revolving Credit Loans under the non-terminating Tranches, the Borrower agrees to repay all such Revolving Credit Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (l)) or (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.16 but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the “Expiring Credit Commitment”) at a time when another tranche or tranches percentage participations of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring in any Letter of Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personissued before such Maturity Date.
Appears in 10 contracts
Samples: First Lien Credit Agreement (ZoomInfo Technologies Inc.), Credit Agreement (Instructure Holdings, Inc.), First Lien Credit Agreement (ZoomInfo Technologies Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swing Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Loans and any reallocation of Participating Interests as contemplated in Section 2.3(k)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Loans could be incurred pursuant to the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swing Loans and the same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personso required to be repaid in full on such earliest maturity date.
Appears in 10 contracts
Samples: Loan Agreement (Worldpay, Inc.), Loan Agreement (Vantiv, Inc.), Loan Agreement (Vantiv, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Nonnon-Expiring Credit Commitment” and collectively, the “Nonnon-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Nonnon-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Nonnon-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 9 contracts
Samples: Abl Credit Agreement (Prestige Consumer Healthcare Inc.), Abl Credit Agreement (Prestige Brands Holdings, Inc.), Abl Credit Agreement (SMART Technologies Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)Maturity Date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity Maturity Date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such Maturity Date); provided, however, that if on the occurrence of such earliest Maturity Date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(m)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant to the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such Maturity Date, then there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personso required to be repaid in full on such earliest Maturity Date.
Appears in 8 contracts
Samples: Credit Agreement (AdvanSix Inc.), Credit Agreement (AdvanSix Inc.), Credit Agreement (AdvanSix Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Letter of Credit Expiration Date in respect of any tranche of Revolving Credit Commitments (occurs prior to the “Expiring Credit Commitment”) at a time when another tranche or tranches expiry date of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)any Letter of Credit, then with respect to each outstanding Swing Line Loan, (i) if consented to by the applicable Swing Line LenderLC Issuer which issued such Letter of Credit, on if one or more other tranches of Revolving Commitments in respect of which the earliest occurring maturity date Letter of Credit Expiration Date shall not have so occurred are then in effect, such Swing Line Loan Letters of Credit for which consent has been obtained shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring Credit obligations of the Revolving Lenders to purchase participations therein and to make Revolving Loans and payments in respect thereof pursuant to Section 2.05(f) and (g)) under (and ratably participated in by Lenders pursuant to) the Revolving Commitments on a pro rata basis; provided that (x) to the extent that the amount in respect of such reallocation would cause the non-terminating tranches up to an aggregate credit exposure amount not to exceed the aggregate amount of the unutilized Revolving Commitments thereunder at such Non-Expiring Credit Commitments, immediately prior to such reallocation the time (it being understood that no partial face amount of Swing Line Loans to any Letter of Credit may be reallocated equal to such excess shall be repaid or Cash Collateralized so reallocated) and (yii) notwithstanding to the foregoing, if a Default or Event of Default has occurred and is continuingextent not reallocated pursuant to immediately preceding clause (i), the Borrower Borrowers shall still be obligated to pay Swing Line Loans allocated to the Revolving Cash Collateralize any such Letter of Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitmentin accordance with Section 2.05(a). Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans Letters of Credit may be reduced as agreed between the Swing Line Lender LC Issuers and the Borrower, without the consent of any other Person.
Appears in 8 contracts
Samples: Abl Credit Agreement (Builders FirstSource, Inc.), Credit Agreement (Builders FirstSource, Inc.), Credit Agreement (Builders FirstSource, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower Company shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the BorrowerCompany, without the consent of any other Person.
Appears in 7 contracts
Samples: Credit Agreement (Hilton Grand Vacations Inc.), Credit Agreement (Hilton Grand Vacations Inc.), Credit Agreement (Hilton Grand Vacations Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any Tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other Tranches of Revolving Credit Commitments in respect of which the Maturity Date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating Tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and to the extent any Letters of Credit are not able to be reallocated pursuant to this clause (l) and there are outstanding Revolving Credit Loans under the non-terminating Tranches, the Borrowers agree to repay all such Revolving Credit Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (l)) or (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Borrowers shall Cash Collateralize any such Letter of Credit in accordance with Section 2.16 but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the “Expiring Credit Commitment”) at a time when another tranche or tranches percentage participations of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring in any Letter of Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personissued before such Maturity Date.
Appears in 6 contracts
Samples: Credit Agreement (Paya Holdings Inc.), Credit Agreement (Atotech LTD), Credit Agreement (Maravai Lifesciences Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche of Participating Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches of more other Participating Revolving Credit Commitments is or are then in effect with (or will automatically be in effect upon such maturity), such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Participating Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(c) and (d)) under (and ratably participated in by Participating Revolving Credit Lenders pursuant to) the non-terminating Participating Revolving Credit Commitments up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Participating Revolving Credit Commitments at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable L/C Issuer for the treatment of such Letter of Credit as a longer maturity date (each letter of credit under a “Non-Expiring Credit Commitment” and collectivelysuccessor credit facility have been agreed upon, the “Non-Expiring Credit Commitments”)Lead Borrower shall, then with respect on or prior to each outstanding Swing Line Loan, if consented to by the applicable Swing Line LenderMaturity Date, on the earliest occurring maturity date cause all such Swing Line Loan shall Letters of Credit to be deemed reallocated replaced and returned to the tranche applicable L/C Issuer undrawn and marked “cancelled” or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount Lead Borrower is unable to so replace and return any Letter(s) of Credit, such reallocation would cause the aggregate credit exposure to exceed the aggregate amount Letter(s) of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid secured by a “back to back” letter of credit from an issuer and in form and substance reasonably satisfactory to the applicable L/C Issuer or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Lead Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(g). Commencing with the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letter of Credit Sublimit shall be reduced as in an amount agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonL/C Issuer.
Appears in 6 contracts
Samples: Credit Agreement (Trinseo PLC), Credit Agreement (Trinseo S.A.), Credit Agreement (Trinseo S.A.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Participating Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Participating Revolving Credit Commitments is or are in effect (or will automatically be in effect upon such maturity) with a longer maturity date (each a “Nonnon-Expiring Credit Commitment” and collectively, the “Nonnon-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Loan on the earliest occurring maturity date such Swing Line Loan Maturity Date shall be deemed reallocated to the tranche or tranches of the Nonnon-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Nonnon-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(m)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized cash collateralized in a manner reasonably satisfactory to the Swing Line Lender and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Lead Borrower shall still be obligated to pay Swing Line Loans allocated to the Participating Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment Commitments or if the Loans have been accelerated prior to the maturity date Maturity Date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 6 contracts
Samples: Credit Agreement (Trinseo PLC), Credit Agreement (Trinseo S.A.), Credit Agreement (Trinseo S.A.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche of Participating Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches of more other Participating Revolving Credit Commitments is or are then in effect with (or will automatically be in effect upon such maturity), such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Participating Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Sections 2.26(c) and (d)) under (and ratably participated in by Participating Revolving Credit Lenders pursuant to) the non-terminating Participating Revolving Credit Commitments up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Participating Revolving Credit Commitments continuing at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable L/C Issuer for the treatment of such Letter of Credit as a longer maturity date (each letter of credit under a “Non-Expiring Credit Commitment” and collectivelysuccessor credit facility have been agreed upon, the “Non-Expiring Credit Commitments”)Borrower shall, then with respect on or prior to each outstanding Swing Line Loan, if consented to by the applicable Swing Line LenderMaturity Date, on the earliest occurring maturity date cause all such Swing Line Loan shall Letters of Credit to be deemed reallocated replaced and returned to the tranche applicable L/C Issuer undrawn and marked “cancelled” or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount Borrower is unable to so replace and return any Letter(s) of Credit, such reallocation would cause the aggregate credit exposure to exceed the aggregate amount Letter(s) of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid secured by a “back to back” letter of credit reasonably satisfactory to the applicable L/C Issuer or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.26(g). Commencing with the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letter of Credit Sublimit shall be reduced as in an amount agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonL/C Issuer.
Appears in 6 contracts
Samples: Credit Agreement (Altice USA, Inc.), Credit Agreement (Altice USA, Inc.), Credit Agreement (Altice USA, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.4(l)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then if consented to by the Swing Line Lender, there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between so required to be repaid in full on such earliest maturity date. For the avoidance of doubt, the commitment of the Swing Line Lender and to act in its capacity as such cannot be extended beyond the Borrower, Revolving Credit Commitment Termination Date or increased without the consent of any other Personits prior written consent.
Appears in 5 contracts
Samples: First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.), First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.), First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Participating Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of other Participating Revolving Credit Commitments is or are in effect (or will automatically be in effect upon such maturity) with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Loan on the earliest occurring maturity date such Swing Line Loan Maturity Date shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.26(m)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized cash collateralized in a manner reasonably satisfactory to the Swing Line Lender and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Participating Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date Maturity Date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 5 contracts
Samples: Credit Agreement (Altice USA, Inc.), Credit Agreement (Altice USA, Inc.), Credit Agreement (Altice USA, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche Class of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche Class or tranches Classes of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then-outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(k)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then if consented to by the Swing Line Lender, there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between so required to be repaid in full on such earliest maturity date. For the avoidance of doubt, the commitment of the Swing Line Lender and to act in its capacity as such cannot be extended beyond the Borrower, Maturity Date for the Revolving Credit Facility (as such Maturity Date is in effect at the Closing Date) or increased without the consent of any other Personits prior written consent.
Appears in 5 contracts
Samples: Credit Agreement, Credit Agreement (Paycor Hcm, Inc.), Credit Agreement (Signify Health, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Initial Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or more other tranches of Revolving Credit Commitments is or in respect of which the maturity date shall not have occurred are then in effect with a longer and which the Revolving Credit Lenders thereunder have agreed to participate in the L/C Obligations, (x) the outstanding Initial Revolving Credit Loans shall be repaid pursuant to Section 2.09 on such maturity date to the extent and in an amount sufficient to permit the reallocation of the Outstanding Amount of L/C Obligations relating to the outstanding Letters of Credit contemplated by clause (each a “Non-Expiring y) below and (y) such Letters of Credit Commitment” shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and collectively, the “Non-Expiring Credit Commitments”to make payments in respect thereof pursuant to Section 2.04(c), then with respect to each outstanding Swing Line Loan, if consented to ) under (and ratably participated in by the applicable Swing Line Lender, on Revolving Credit Lenders pursuant to) the earliest occurring maturity date Revolving Credit Commitments in respect of such Swing Line Loan non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the Revolving Credit Commitments in respect of such nonterminating tranches at such time (it being understood that (1) the participations therein of Initial Revolving Credit Lenders under the maturing tranche shall be deemed reallocated to the tranche or tranches correspondingly released and (2) no partial face amount of the Non-Expiring any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent that not reallocated pursuant to the amount of such reallocation would cause immediately preceding clause (i), but without limiting the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingobligations with respect thereto, the Borrower shall still provide a backstop letter of credit or Cash Collateral with respect to any such Letter of Credit in a manner reasonably satisfactory to the applicable L/C Issuer. If, for any reason, such backstop letter of credit or Cash Collateral is not provided, or the reallocation does not occur, the Initial Revolving Credit Lenders under the maturing tranche shall continue to be obligated responsible for their participating interests in the Letters of Credit; provided that, notwithstanding anything to pay Swing Line Loans allocated the contrary contained herein, upon any subsequent repayment of the Initial Revolving Credit Loans, the reallocation set forth in clause (i) shall automatically and concurrently occur to the extent of such repayment (it being understood that no partial face amount of any Letter of Credit may be so reallocated). Except to the extent of reallocations of participations pursuant to clause (i) of this Section 2.04(m), the occurrence of a maturity date with respect to the Initial Revolving Credit Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Initial Revolving Credit Lenders in any Letter of Credit issued before such maturity date. Commencing with the maturity date of the Initial Revolving Credit Commitments, the Letter of Credit Sublimit under any tranche of Revolving Credit Commitments that has not so then matured shall be as agreed by the Borrower with such Revolving Credit Lenders; provided that in no event shall such sublimit be less than the sum of (x) the Outstanding Amount of L/C Obligations with respect to the Revolving Credit Lenders holding the Expiring Credit Commitments at the under such extended tranche immediately prior to such maturity date and (y) the face amount of the Expiring Letters of Credit Commitment or if the Loans have been accelerated prior reallocated to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any such tranche of Revolving Credit Commitments, the sublimit for Swing Line Commitments pursuant to clause (i) of this Section 2.04(m) (assuming Initial Revolving Credit Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personare repaid in accordance with clause (i)(x)).
Appears in 5 contracts
Samples: Credit Agreement (Latham Group, Inc.), Credit Agreement (Latham Group, Inc.), Credit Agreement (Latham Group, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Revolving Credit Commitments, Additional Revolving Credit Commitments or Extended Revolving Credit Commitments (such expiring tranche, the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments, Additional Revolving Credit Commitments or Extended Revolving Credit Commitments available in Dollars is or are in effect with a longer maturity date Maturity Date (each each, a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Swingline Loan, if consented to by the applicable Swing Line Swingline Lender, on the earliest occurring maturity date Maturity Date such Swing Line Swingline Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Swingline Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized or Backstopped and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the applicable Borrower shall still be obligated to pay Swing Line Swingline Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date Maturity Date of the Expiring Credit Commitment. Upon On the maturity date Maturity Date of any tranche of Revolving Expiring Credit CommitmentsCommitment, the sublimit for Swing Line Swingline Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonSwingline Lender.
Appears in 5 contracts
Samples: Credit Agreement (Clear Channel Outdoor Holdings, Inc.), Credit Agreement (Clear Channel Outdoor Holdings, Inc.), Credit Agreement (Clear Channel Outdoor Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of U.S. Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of U.S. Revolving Credit Commitments is or are in effect with a longer maturity date Maturity Date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date Maturity Date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of U.S. Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(m)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower Swing Line Borrowers shall still be obligated to pay Swing Line Loans allocated to the U.S. Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date Maturity Date of any tranche or Class of U.S. Revolving Credit Commitments, the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 4 contracts
Samples: Credit Agreement (Iqvia Holdings Inc.), Credit Agreement (Iqvia Holdings Inc.), Credit Agreement (Iqvia Holdings Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit issued under such tranche, then (the “Expiring Credit Commitment”i) at a time when another tranche if one (1) or more other tranches of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date shall not have occurred are then in effect, (each a “Non-Expiring Credit Commitment” and collectively, x) the “Non-Expiring Credit Commitments”), then with respect outstanding Revolving Loans shall be repaid pursuant to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Section 2.7(d) on the earliest occurring such maturity date to the extent and in an amount sufficient to permit the reallocation of the Letter of Credit Usage relating to the outstanding Letters of Credit contemplated by clause (y) below and (y) such Swing Line Loan Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Lenders to purchase participations therein and to make payments in respect thereof pursuant to Section 2.3(d)) under (and ratably participated in by Revolving Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the Revolving Credit Commitments in respect of such non-terminating tranches at such time (it being understood that (1) the participations therein of Revolving Lenders under the maturing tranche shall be deemed reallocated to the tranche or tranches correspondingly released and (2) no partial face amount of the Non-Expiring any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent that not reallocated pursuant to the amount of such reallocation would cause immediately preceding clause (i), but without limiting the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingobligations with respect thereto, the Borrower shall still be obligated provide an L/C Backstop with respect to pay Swing Line Loans allocated any such Letter of Credit in a manner reasonably satisfactory to the applicable L/C Issuer. If, for any reason, such L/C Backstop is not provided or the reallocation does not occur, the Revolving Lenders under the maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit; provided that, notwithstanding anything to the contrary contained herein, upon any subsequent repayment of the Revolving Loans, the reallocation set forth in clause (i) shall automatically and concurrently occur to the extent of such repayment (it being understood that no partial face amount of any Letter of Credit may be so reallocated). Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Revolving Credit Lenders holding Commitments shall have no effect upon (and shall not diminish) the Expiring Credit Commitments at the maturity date percentage participations of the Expiring Revolving Lenders in any Letter of Credit Commitment or if the Loans have been accelerated prior to the issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may L/C Sublimit under any tranche of Revolving Credit Commitments that has not so then matured shall be reduced as agreed between with such Revolving Lenders; provided that in no event shall such sublimit be less than the Swing Line Lender sum of (x) the Letter of Credit Usage with respect to the Revolving Lenders under such extended tranche immediately prior to such maturity date and (y) the Borrower, without face amount of the consent Letters of any other PersonCredit reallocated to such tranche of Revolving Credit Commitments pursuant to clause (i) of the first sentence of this clause (k) (assuming Revolving Loans are repaid in accordance with clause (i)(x)).
Appears in 4 contracts
Samples: Loan Agreement (Western Digital Corp), Loan Agreement (Western Digital Corp), Loan Agreement (Western Digital Corp)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Letter of Credit Expiration Date in respect of any tranche or Class of U.S. Revolving Credit Commitments (occurs prior to the “Expiring Credit Commitment”) at a time when another tranche or tranches expiry date of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)any Letter of Credit, then with respect to each outstanding Swing Line Loan, (i) if consented to by such L/C Issuer which issued such Letter of Credit, if one or more other tranches or Classes of U.S. Revolving Credit Commitments under which Letters of Credit are issued in respect of which the Letter of Credit Expiration Date shall not have so occurred are then in effect, such Letters of Credit for which consent has been obtained shall automatically be deemed to have been issued (including for purposes of the obligations of the U.S. Revolving Credit Lenders to purchase participations therein and to make U.S. Revolving Credit Loans and payments in respect thereof pursuant to Sections 2.03(c) and (d)) under (and ratably participated in by U.S. Revolving Credit Lenders pursuant to) the U.S. Revolving Credit Commitments in respect of such non-terminating tranches or Classes up to an aggregate amount not to exceed the aggregate principal amount of the unutilized U.S. Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable Swing Line LenderL/C Issuer for the treatment of such Letter of Credit as a letter of credit under a successor credit facility have been agreed upon, the Parent Borrower shall, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated or prior to the tranche applicable Maturity Date, cause all such Letters of Credit to be replaced and returned to the applicable L/C Issuer undrawn and marked “cancelled” or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount Parent Borrower is unable to so replace and return any Letter(s) of Credit, such reallocation would cause the aggregate credit exposure to exceed the aggregate amount Letter(s) of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid secured by a “back to back” letter of credit reasonably satisfactory to the applicable L/C Issuer or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Parent Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(g). Commencing with the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche or Class of U.S. Revolving Credit Commitments, the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personsolely with such L/C Issuer.
Appears in 4 contracts
Samples: Credit Agreement (Iqvia Holdings Inc.), Assignment and Assumption (Quintiles IMS Holdings, Inc.), Credit Agreement (Quintiles IMS Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Letter of Credit Expiration Date in respect of any tranche or Class of U.S. Revolving Credit Commitments (occurs prior to the “Expiring Credit Commitment”) at a time when another tranche or tranches expiry date of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)any Letter of Credit, then with respect to each outstanding Swing Line Loan, (i) if consented to by such L/C Issuer which issued such Letter of Credit, if one or more other tranches or Classes of U.S. Revolving Credit Commitments under which Letters of Credit are issued in respect of which the Letter of Credit Expiration Date shall not have so occurred are then in effect, such Letters of Credit for which consent has been obtained shall automatically be deemed to have been issued (including for purposes of the obligations of the U.S. Revolving Credit Lenders to purchase participations therein and to make U.S. Revolving Credit Loans and payments in respect thereof pursuant to Sections 2.03(c) and (d)) under (and ratably participated in by U.S. Revolving Credit Lenders pursuant to) the U.S. Revolving Credit Commitments in respect of such non-terminating tranches or Classes up to an aggregate amount not to exceed the aggregate principal amount of the unutilized U.S. Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable Swing Line LenderL/C Issuer for the treatment of such Letter of Credit as a letter of credit under a successor credit facility have been agreed upon, each applicable Borrower shall, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated or prior to the tranche applicable Maturity Date, cause all such Letters of Credit to be replaced and returned to the applicable L/C Issuer undrawn and marked “cancelled” or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount applicable Borrower is unable to so replace and return any Letter(s) of Credit, such reallocation would cause the aggregate credit exposure to exceed the aggregate amount Letter(s) of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid secured by a “back to back” letter of credit reasonably satisfactory to the applicable L/C Issuer or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the such Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(g). Commencing with the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche or Class of U.S. Revolving Credit Commitments, the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personsolely with such L/C Issuer.
Appears in 4 contracts
Samples: Credit Agreement (Iqvia Holdings Inc.), Credit Agreement (Iqvia Holdings Inc.), Credit Agreement (Iqvia Holdings Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if consented to by the “Expiring Credit Commitment”) at a time when another tranche Issuing Bank which issued such Letter of Credit, if one or more other tranches of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date (each a “Non-Expiring shall not have occurred are then in effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Lenders to purchase participations therein and to make Revolving Loans and payments in respect thereof pursuant to this Section 2.4) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (xii) to the extent that not reallocated pursuant to immediately preceding clause (i), the amount Borrowers shall Cash Collateralize any such Letter of Credit in accordance with the terms hereof. If, for any reason, such Cash Collateral is not provided or the reallocation would cause does not occur, the aggregate credit exposure to exceed Lenders under the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans maturing tranche shall continue to be reallocated equal responsible for their participating interests in the Letters of Credit. Except to such excess shall be repaid or Cash Collateralized and the extent of reallocations of participations pursuant to clause (yi) notwithstanding of the foregoing, if a Default or Event of Default has occurred and is continuingsecond preceding sentence, the Borrower shall still be obligated occurrence of a maturity date with respect to pay Swing Line Loans allocated to the a given tranche of Revolving Credit Lenders holding Commitments shall have no effect upon (and shall not diminish) the Expiring Credit Commitments at the maturity date percentage participations of the Expiring Lenders in any Letter of Credit Commitment or if the Loans have been accelerated prior to the issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit sub-limit for Swing Line Loans may Letters of Credit shall be reduced as agreed between with the Swing Line Lender and Lenders under the Borrowerextended tranches. For the avoidance of doubt, without notwithstanding anything contained herein, the consent commitment of any other PersonIssuing Bank to act in its capacity as such cannot be extended beyond the Revolving Credit Commitment Termination Date (as such Extended Maturity Date is in effect at the Closing Date) or increased without its prior written consent.
Appears in 4 contracts
Samples: First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.), First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.), First Lien Credit and Guaranty Agreement (Corsair Gaming, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date Maturity Date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date Maturity Date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(l)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Specified Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date Maturity Date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 4 contracts
Samples: Credit Agreement (Bright Horizons Family Solutions Inc.), Agreement and Security Agreement (Bloomin' Brands, Inc.), Credit Agreement (Bright Horizons Family Solutions Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of U.S. Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of U.S. Revolving Credit Commitments is or are in effect with a longer maturity date Maturity Date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date Maturity Date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of U.S. Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(m)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Parent Borrower shall still be obligated to pay Swing Line Loans allocated to the U.S. Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date Maturity Date of any tranche or Class of U.S. Revolving Credit Commitments, the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 4 contracts
Samples: Credit Agreement (Iqvia Holdings Inc.), Assignment and Assumption (Quintiles IMS Holdings, Inc.), Credit Agreement (Quintiles IMS Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche Tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches more other Tranches of Revolving Credit Commitments is in respect of which the Maturity Date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued or arranged (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating Tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and to the extent any Letters of Credit are in effect with a longer maturity date not able to be reallocated pursuant to this clause (each a “Nonl) and there are outstanding Revolving Credit Loans under the non-Expiring Credit Commitment” and collectivelyterminating Tranches, the “Non-Expiring Borrower agrees to repay all such Revolving Credit Commitments”Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (l), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche ) or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (xii) to the extent that not reallocated pursuant to immediately preceding clause (i), the Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.16 but with respect to the amount of such reallocation would cause Letter of Credit not so reallocated. Except to the aggregate credit exposure extent of reallocations of participations pursuant to exceed clause (i) of the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingpreceding sentence, the Borrower occurrence of a Maturity Date with respect to a given Tranche of Revolving Credit Commitments shall still be obligated to pay Swing Line Loans allocated to have no effect upon (and shall not diminish) the percentage participations of the Revolving Credit Lenders holding the Expiring in any Letter of Credit Commitments at the maturity date of the Expiring Credit Commitment issued (or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personarranged) before such Maturity Date.
Appears in 3 contracts
Samples: Credit Agreement (KLDiscovery Inc.), Credit Agreement (KLDiscovery Inc.), Credit Agreement (KLDiscovery Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche Class of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches more other Classes of Revolving Credit Commitments is or in respect of which the Maturity Date shall not have occurred are then in effect with a longer maturity date (each a “Non-Expiring effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(c)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided in respect of such non-terminating Classes up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (xii) to the extent that not reallocated pursuant to the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and preceding clause (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingi), the Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(f). If, for any reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving Credit Lenders holding under the Expiring maturing Class shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a Maturity Date with respect to a given Class of Revolving Credit Commitments at shall have no effect upon (and shall not diminish) the maturity date percentage participations of the Expiring Revolving Credit Commitment or if Lenders in any Letter of Credit issued before such Maturity Date. Commencing with the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between with the Swing Line Lender and Lenders under the Borrowerextended or otherwise outstanding Classes. For the avoidance of doubt, without notwithstanding anything contained herein, the consent commitment of any other PersonL/C Issuer to act in its capacity as such cannot be extended beyond the Initial Revolving Credit Maturity Date (as in effect at the Closing Date) or increased without its prior written consent.
Appears in 3 contracts
Samples: Credit Agreement (RingCentral, Inc.), Credit Agreement (RingCentral, Inc.), Credit Agreement (RingCentral, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche of Participating Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches of more other Participating Revolving Credit Commitments is or are then in effect with (or will automatically be in effect upon such maturity), such Letter of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Participating Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Sections 2.03(c) and (d)) under (and ratably participated in by Participating Revolving Credit Lenders pursuant to) the non-terminating Participating Revolving Credit Commitments up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Participating Revolving Credit Commitments continuing at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable L/C Issuer for the treatment of such Letter of Credit as a longer maturity date (each letter of credit under a “Non-Expiring Credit Commitment” and collectivelysuccessor credit facility have been agreed upon, the “Non-Expiring Credit Commitments”)applicable Borrower shall, then with respect on or prior to each outstanding Swing Line Loan, if consented to by the applicable Swing Line LenderMaturity Date, on the earliest occurring maturity date cause all such Swing Line Loan shall Letters of Credit to be deemed reallocated replaced and returned to the tranche applicable L/C Issuer undrawn and marked “cancelled” or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount applicable Borrower is unable to so replace and return any Letter(s) of Credit, such reallocation would cause the aggregate credit exposure to exceed the aggregate amount Letter(s) of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid secured by a “back to back” letter of credit reasonably satisfactory to the applicable L/C Issuer or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the applicable Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(g). Commencing with the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans may applicable Letter of Credit Sublimit shall be reduced as in an amount agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other Personapplicable L/C Issuer.
Appears in 3 contracts
Samples: Credit Agreement (Liberty Latin America Ltd.), Credit Agreement (Liberty Latin America Ltd.), Credit Agreement (Liberty Latin America Ltd.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one (1) or more other tranches of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date shall not have occurred are then in effect, (each a “Non-Expiring Credit Commitment” and collectively, x) the “Non-Expiring Credit Commitments”), then with respect outstanding Revolving Loans shall be repaid pursuant to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Section 2.7(b) on the earliest occurring such maturity date to the extent and in an amount sufficient to permit the reallocation of the Letter of Credit Usage relating to the outstanding Letters of Credit contemplated by clause (y) below and (y) such Swing Line Loan Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Lenders to purchase participations therein and to make payments in respect thereof pursuant to Section 2.3(d)) under (and ratably participated in by Revolving Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the Revolving Credit Commitments in respect of such non-terminating tranches at such time (it being understood that (1) the participations therein of Revolving Lenders under the maturing tranche shall be deemed reallocated to the tranche or tranches correspondingly released and (2) no partial face amount of the Non-Expiring any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent that not reallocated pursuant to the amount of such reallocation would cause immediately preceding clause (i), but without limiting the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingobligations with respect thereto, the Borrower shall still be obligated provide an L/C Backstop with respect to pay Swing Line Loans allocated any such Letter of Credit in a manner reasonably satisfactory to the applicable L/C Issuer. If, for any reason, such L/C Backstop is not provided or the reallocation does not occur, the Revolving Lenders under the maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit; provided that, notwithstanding anything to the contrary contained herein, upon any subsequent repayment of the Revolving Loans, the reallocation set forth in clause (i) shall automatically and concurrently occur to the extent of such repayment (it being understood that no partial face amount of any Letter of Credit may be so reallocated). Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Revolving Credit Lenders holding Commitments shall have no effect upon (and shall not diminish) the Expiring Credit Commitments at the maturity date percentage participations of the Expiring Revolving Lenders in any Letter of Credit Commitment or if the Loans have been accelerated prior to the issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may L/C Sublimit under any tranche of Revolving Credit Commitments that has not so then matured shall be reduced as agreed between with such Revolving Lenders; provided that in no event shall such sublimit be less than the Swing Line Lender sum of (x) the Letter of Credit Usage with respect to the Revolving Lenders under such extended tranche immediately prior to such maturity date and (y) the Borrower, without face amount of the consent Letters of any other PersonCredit reallocated to such tranche of Revolving Credit Commitments pursuant to clause (i) of the second preceding sentence above (assuming Revolving Loans are repaid in accordance with clause (i)(x)).
Appears in 3 contracts
Samples: Loan Agreement (Vantiv, Inc.), Loan Agreement (Vantiv, Inc.), Loan Agreement (Vantiv, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swingline Loans shall be repaid in full on such Swing Line Loan date (and there shall be no adjustment to the participations in such Swingline Loans as a result of the occurrence of such maturity date); provided, however that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(l)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swingline Loans could be incurred pursuant to the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for Swing Line and such Swingline Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personso required to be repaid in full on such earliest maturity date.
Appears in 3 contracts
Samples: Credit Agreement (Sensata Technologies Holding PLC), Credit Agreement (Sensata Technologies Holding PLC), Credit Agreement (Sensata Technologies Holding PLC)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit issued under such tranche, then (the “Expiring Credit Commitment”i) at a time when another tranche if one (1) or more other tranches of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date shall not have occurred are then in effect, (each a “Non-Expiring Credit Commitment” and collectively, x) the “Non-Expiring Credit Commitments”), then with respect outstanding Revolving Loans shall be repaid pursuant to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Section 2.7(b) on the earliest occurring such maturity date to the extent and in an amount sufficient to permit the reallocation of the Letter of Credit Usage relating to the outstanding Letters of Credit contemplated by clause (y) below and (y) such Swing Line Loan Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Lenders to purchase participations therein and to make payments in respect thereof pursuant to Section 2.3(d)) under (and ratably participated in by Revolving Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the Revolving Credit Commitments in respect of such non-terminating tranches at such time (it being understood that (1) the participations therein of Revolving Lenders under the maturing tranche shall be deemed reallocated to the tranche or tranches correspondingly released and (2) no partial face amount of the Non-Expiring any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent not reallocated pursuant to the immediately preceding clause (i), but without limiting the obligations with respect thereto, the Borrowers shall provide an L/C Backstop with respect to any such Letter of Credit in a manner reasonably satisfactory to the applicable L/C Issuer. If, for any reason, such L/C Backstop is not provided or the reallocation does not occur, the Revolving Lenders under the maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit; provided that, notwithstanding anything to the contrary contained herein, upon any subsequent repayment of the Revolving Loans, the reallocation set forth in clause (i) shall automatically and concurrently occur to the extent of such repayment (it being understood that the no partial face amount of such reallocation would cause any Letter of Credit may be so reallocated). Except to the aggregate credit exposure extent of reallocations of participations pursuant to exceed clause (i) of the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingsecond preceding sentence, the Borrower occurrence of a maturity date with respect to a given tranche of Revolving Credit Commitments shall still be obligated to pay Swing Line Loans allocated to have no effect upon (and shall not diminish) the percentage participations of the Revolving Lenders in any Letter of Credit Lenders holding the Expiring Credit Commitments at the issued before such maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may L/C Sublimit under any tranche of Revolving Credit Commitments that has not so then matured shall be reduced as agreed between with such Revolving Lenders; provided that in no event shall such sublimit be less than the Swing Line Lender sum of (x) the Letter of Credit Usage with respect to the Revolving Lenders under such extended tranche immediately prior to such maturity date and (y) the Borrower, without face amount of the consent Letters of any other PersonCredit reallocated to such tranche of Revolving Credit Commitments pursuant to clause (i) of the first sentence of this clause (k) (assuming Revolving Loans are repaid in accordance with clause (i)(x)).
Appears in 3 contracts
Samples: Loan Agreement (Western Digital Corp), Loan Agreement (Western Digital Corp), Restatement Agreement (Western Digital Corp)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche Class of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches more other Classes of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date (each a “Non-Expiring shall not have occurred are then in effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(c)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided in respect of such non-terminating Classes up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (xii) to the extent that the amount of such reallocation would cause the aggregate credit exposure not reallocated pursuant to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and preceding clause (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingi), the Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(f). If, for any reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving Credit Lenders holding under the Expiring maturing Class shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given Class of Revolving Credit Commitments at shall have no effect upon (and shall not diminish) the maturity date percentage participations of the Expiring Revolving Credit Commitment or if the Loans have been accelerated prior to the Lenders in any Letter of Credit issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between with the Swing Line Lender and Lenders under the Borrowerextended Classes. For the avoidance of doubt, without notwithstanding anything contained herein, the consent commitment of any other PersonL/C Issuer to act in its capacity as such cannot be extended beyond Revolving Credit Availability Period or increased without its prior written consent.
Appears in 3 contracts
Samples: Credit Agreement (Holley Inc.), Credit Agreement (Holley Inc.), Credit Agreement (Holley Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Initial Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Initial Revolving Credit Loans and any reallocation of participating interests as contemplated in Section 2.04(m)) there shall exist sufficient unutilized Extended Revolving Credit Commitments with Revolving Credit Lenders that have agreed to participate in the Swing Line Loans so that the respective outstanding Swing Line Loans could be incurred pursuant to such Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and the same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personso required to be repaid in full on such earliest maturity date.
Appears in 3 contracts
Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Participating Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of other Participating Revolving Credit Commitments is or are in effect (or will automatically be in effect upon such maturity) with a longer maturity date (each a “Nonnon-Expiring Credit Commitment” and collectively, the “Nonnon-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Loan on the earliest occurring maturity date such Swing Line Loan Maturity Date shall be deemed reallocated to the tranche or tranches of the Nonnon-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure Revolving Exposure to exceed the aggregate amount of such Nonnon-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(l)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized in a manner reasonably satisfactory to the Swing Line Lender and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower Borrowers shall still be obligated to pay Swing Line Loans allocated to the Participating Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date Maturity Date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 3 contracts
Samples: Credit and Guaranty Agreement (Priority Technology Holdings, Inc.), Credit and Guaranty Agreement (Priority Technology Holdings, Inc.), Credit and Guaranty Agreement (Priority Technology Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Participating Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of other Participating Revolving Credit Commitments is or are in effect (or will automatically be in effect upon such maturity) with a longer maturity date (each a “Nonnon-Expiring Credit Commitment” and collectively, the “Nonnon-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Loan on the earliest occurring maturity date such Swing Line Loan Maturity Date shall be deemed reallocated to the tranche or tranches of the Nonnon-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Nonnon-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(m)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized cash collateralized in a manner reasonably satisfactory to the Swing Line Lender and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the applicable Borrower shall still be obligated to pay Swing Line Loans allocated to the Participating Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date Maturity Date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 3 contracts
Samples: Credit Agreement (Liberty Latin America Ltd.), Credit Agreement (Liberty Latin America Ltd.), Credit Agreement (Liberty Latin America Ltd.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any Tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other Tranches of Revolving Credit Commitments in respect of which the Maturity Date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating Tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and to the extent any Letters of Credit are not able to be reallocated pursuant to this clause (l) and there are outstanding Revolving Credit Loans under the non-terminating Tranches, the Borrower agrees to repay all such Revolving Credit Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (l)) or (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.16 but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the “Expiring Credit Commitment”) at a time when another tranche or tranches percentage participations of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring in any Letter of Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personissued before such Maturity Date.
Appears in 3 contracts
Samples: Credit Agreement (Allison Transmission Holdings Inc), Credit Agreement (Allison Transmission Holdings Inc), Credit Agreement (Allison Transmission Holdings Inc)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date Maturity Date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date Maturity Date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(l)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Specified Default has occurred and is continuing, the Borrower Borrowers shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date Maturity Date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 3 contracts
Samples: Security Agreement (Bloomin' Brands, Inc.), Credit Agreement (Bloomin' Brands, Inc.), Security Agreement (Bloomin' Brands, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each each, a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 3 contracts
Samples: Credit Agreement (Global Eagle Entertainment Inc.), Credit Agreement (Global Eagle Entertainment Inc.), Credit Agreement (Jason Industries, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche Tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches more other Tranches of Revolving Credit Commitments is or in respect of which the Maturity Date shall not have occurred are then in effect with a longer maturity date (effect, each a “Non-Expiring unexpired Letter of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided that (x) in respect of each such non-terminating Tranches up to the extent that the an aggregate amount of for any such reallocation would cause the aggregate credit exposure Tranche not to exceed the aggregate amount of the unutilized Revolving Credit Commitments thereunder at such Non-Expiring Credit Commitments, immediately prior to such reallocation the time (it being understood that no partial face amount of Swing Line Loans any Letter of Credit may be so reallocated) and to the extent any unexpired Letters of Credit are not able to be reallocated equal pursuant to this clause (i) and there are outstanding Revolving Credit Loans under any non-terminating Tranche, the Borrower agrees to repay, ratably with respect to any such excess shall be repaid Tranche, all such Revolving Credit Loans (or Cash Collateralized such lesser amount as is necessary to enable a reallocation of all unexpired Letters of Credit pursuant to this clause (i)) and (yii) notwithstanding to the foregoing, if a Default or Event of Default has occurred and is continuingextent not reallocated pursuant to immediately preceding clause (i), the Borrower shall still be obligated Cash Collateralize any such Letter of Credit in a manner reasonably satisfactory to pay Swing Line Loans allocated the Administrative Agent and the applicable L/C Issuer but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given Tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other PersonTranche in any Letter of Credit issued before such Maturity Date.
Appears in 3 contracts
Samples: Credit Agreement (DHX Media Ltd.), First Lien Credit Agreement (Keyw Holding Corp), Credit Agreement (Keyw Holding Corp)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche of Participating Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches of more other Participating Revolving Credit Commitments is or are then in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”or will automatically be in effect upon such maturity), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan Letters of Credit shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Nonobligations of the Participating Revolving Credit Lenders to purchase participations therein and to make Revolving Loans and payments in respect thereof pursuant to Sections 2.03(c) and (d)) under (and ratably participated in by Participating Revolving Credit Lenders pursuant to) the non-Expiring terminating Participating Revolving Credit Commitments on a pro rata basis; provided up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Participating Revolving Credit Commitments continuing at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (xii) to the extent that not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the amount applicable Issuing Bank for the treatment of such reallocation would cause the aggregate Letter of Credit as a letter of credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if under a Default or Event of Default has occurred and is continuingsuccessor credit facility have been agreed upon, the applicable Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment shall, on or if the Loans have been accelerated prior to the maturity date applicable Maturity Date, cause all such Letters of Credit to be replaced and returned to the Expiring applicable Issuing Bank undrawn and marked “cancelled” or to the extent that such Borrower is unable to so replace and return any Letter(s) of Credit, such Letter(s) of Credit Commitmentshall be secured by a “back to back” letter of credit reasonably satisfactory to the applicable Issuing Bank or the Borrowers shall Cash Collateralize any such Letter of Credit in accordance with Section 2.03(g). Upon Commencing with the maturity date Maturity Date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letter of Credit Sublimit shall be reduced as in an amount agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonIssuing Banks.
Appears in 3 contracts
Samples: Credit and Guaranty Agreement (Priority Technology Holdings, Inc.), Credit and Guaranty Agreement (Priority Technology Holdings, Inc.), Credit and Guaranty Agreement (Priority Technology Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any Tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Revolving Credit Commitments in respect of which the Maturity Date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating Tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and to the extent any Letters of Credit are not able to be reallocated pursuant to this clause (i) and there are outstanding Revolving Credit Loans under the non-terminating Tranches, the Borrowers agree to repay all such Revolving Credit Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (i)) or (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Parent Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.18 but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the “Expiring Credit Commitment”) at a time when another tranche or tranches percentage participations of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring in any Letter of Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personissued before such Maturity Date.
Appears in 3 contracts
Samples: Credit Agreement (Axalta Coating Systems Ltd.), Credit Agreement (Axalta Coating Systems Ltd.), Credit Agreement (Axalta Coating Systems Ltd.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche Class of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche Class or tranches Classes of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then-outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(k)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then if consented to by the Swing Line Lender, there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between so required to be repaid in full on such earliest maturity date. For the avoidance of doubt, the commitment of the Swing Line Lender and to act in its capacity as such cannot be extended beyond the Borrower, Revolving Credit Availability Period or increased without the consent of any other Personits prior written consent.
Appears in 3 contracts
Samples: Credit Agreement (Holley Inc.), Credit Agreement (Holley Inc.), Credit Agreement (Holley Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche Tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches more other Tranches of Revolving Credit Commitments is or in respect of which the Maturity Date shall not have occurred are then in effect with a longer maturity date effect, such Letters of Credit shall automatically be deemed to have been issued (each a “Nonincluding for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-Expiring terminating Tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitment” Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and collectivelyto the extent any Letters of Credit are not able to be reallocated pursuant to this clause (m) and there are outstanding Revolving Credit Loans under the non-terminating Tranches, the “Non-Expiring Borrowers agree to repay all such Revolving Credit Commitments”Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (m), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche ) or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (xii) to the extent that not reallocated pursuant to immediately preceding clause (i), the Lux Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.16 but only up to the amount of such reallocation would cause Letter of Credit not so reallocated. Except to the aggregate credit exposure extent of reallocations of participations pursuant to exceed clause (i) of the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingpreceding sentence, the Borrower occurrence of a Maturity Date with respect to a given Tranche of Revolving Credit Commitments shall still be obligated to pay Swing Line Loans allocated to have no effect upon (and shall not diminish) the percentage participations of the Revolving Credit Lenders holding the Expiring in any Letter of Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.issued before such Maturity Date
Appears in 3 contracts
Samples: Credit Agreement (Ortho Clinical Diagnostics Holdings PLC), Credit Agreement (Ortho Clinical Diagnostics Holdings PLC), Fourth Amendment (Ortho Clinical Diagnostics Holdings PLC)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Participating Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of other Participating Revolving Credit Commitments is or are in effect (or will automatically be in effect upon such maturity) with a longer maturity date (each a “Nonnon-Expiring Credit Commitment” and collectively, the “Nonnon-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Loan on the earliest occurring maturity date such Swing Line Loan Maturity Date shall be deemed reallocated to the tranche or tranches of the Nonnon-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Nonnon-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(m)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized cash collateralized in a manner reasonably satisfactory to the Swing Line Lender and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Participating Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date Maturity Date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 3 contracts
Samples: First Lien Credit Agreement (Portillo's Inc.), Credit Agreement (Liberty Global PLC), Pledge Agreement (Liberty Global PLC)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(k)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then if consented to by the Swing Line Lender, there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between so required to be repaid in full on such earliest maturity date. For the avoidance of doubt, the commitment of the Swing Line Lender and to act in its capacity as such cannot be extended beyond the Borrower, Maturity Date for the Revolving Credit Facility (as such Maturity Date is in effect at the Closing Date) or increased without the consent of any other Personits prior written consent.
Appears in 2 contracts
Samples: Abl Credit Agreement (Cole Haan, Inc.), Abl Credit Agreement (Cole Haan, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Letter of Credit Expiration Date in respect of any tranche of Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (i) if consented to by the “Expiring Credit Commitment”) at a time when another tranche L/C Issuer which issued such Letter of Credit, if one or more other tranches of Revolving Credit Commitments is or in respect of which the Letter of Credit Expiration Date shall not have so occurred are then in effect with effect, such Letters of Credit for which consent has been obtained shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Sections 2.03(c) and (d)) under (and ratably participated in by Revolving Credit Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable L/C Issuer for the treatment of such Letter of Credit as a longer maturity date (each letter of credit under a “Non-Expiring Credit Commitment” and collectivelysuccessor credit facility have been agreed upon, the “Non-Expiring Credit Commitments”)Borrower shall, then with respect on or prior to each outstanding Swing Line Loan, if consented to by the applicable Swing Line LenderMaturity Date, on the earliest occurring maturity date cause all such Swing Line Loan shall Letters of Credit to be deemed reallocated replaced and returned to the tranche applicable L/C Issuer undrawn and marked “cancelled” or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount Borrower is unable to so replace and return any Letter(s) of Credit, such reallocation would cause the aggregate credit exposure to exceed the aggregate amount Letter(s) of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid secured by a “back to back” letter of credit reasonably satisfactory to the applicable L/C Issuer or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(g). Commencing with the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonL/C Issuer.
Appears in 2 contracts
Samples: Credit Agreement (Bright Horizons Family Solutions Inc.), Credit Agreement (Bright Horizons Family Solutions Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Initial Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or more other tranches of Revolving Credit Commitments is or in respect of which the maturity date shall not have occurred are then in effect with a longer and which the Revolving Credit Lenders thereunder have agreed to participate in the L/C Obligations, (x) the outstanding Initial Revolving Credit Loans shall be repaid pursuant to Section 2.09 on such maturity date to the extent and in an amount sufficient to permit the reallocation of the Outstanding Amount of L/C Obligations relating to the outstanding Letters of Credit contemplated by clause (each a “Non-Expiring y) below and (y) such Letters of Credit Commitment” shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and collectively, the “Non-Expiring Credit Commitments”to make payments in respect thereof pursuant to Section 2.04(c), then with respect to each outstanding Swing Line Loan, if consented to ) under (and ratably participated in by the applicable Swing Line Lender, on Revolving Credit Lenders pursuant to) the earliest occurring maturity date Revolving Credit Commitments in respect of such Swing Line Loan non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the Revolving Credit Commitments in respect of such nonterminating tranches at such time (it being understood that (1) the participations therein of Initial Revolving Credit Lenders under the maturing tranche shall be deemed reallocated to the tranche or tranches correspondingly released and (2) no partial face amount of the Non-Expiring any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent that not reallocated pursuant to the amount of such reallocation would cause immediately preceding clause (i), but without limiting the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingobligations with respect thereto, the Borrower shall still provide a backstop letter of credit or Cash Collateral with respect to any such Letter of Credit in a manner reasonably satisfactory to the applicable L/C Issuer. If, for any reason, such backstop letter of credit or Cash Collateral is not provided, or the reallocation does not occur, the Initial Revolving Credit Lenders under the maturing tranche shall continue to be obligated responsible for their participating interests in the Letters of Credit; provided that, notwithstanding anything to pay Swing Line Loans allocated the contrary contained herein, upon any subsequent repayment of the Initial Revolving Credit Loans, the reallocation set forth in clause (i) shall automatically and concurrently occur to the extent of such repayment (it being understood that no partial face amount of any Letter of Credit may be so reallocated). Except to the extent of reallocations of participations pursuant to clause (i) of this Section 2.04(m), the occurrence of a maturity date with respect to the Initial Revolving Credit Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Initial Revolving Credit Lenders in any Letter of Credit issued before such maturity date. Commencing with the maturity date of the Initial Revolving Credit Commitments, the Letter of Credit Sublimit under any tranche of Revolving Credit Commitments that has not so then matured shall be as agreed by the Borrower with such Revolving Credit Lenders; provided that in no event shall such sublimit be less than the sum of (x) the Outstanding Amount of L/C Obligations with respect to the Revolving Credit Lenders holding the Expiring Credit Commitments at the under such extended tranche immediately prior to such maturity date and (y) the face amount of the Expiring Letters of Credit Commitment or if the Loans have been accelerated prior reallocated to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any such tranche of Revolving Credit CommitmentsCommitments pursuant to clause (i) of this Section 2.04(m) (assuming Initial Revolving Credit Loans are repaid in accordance with clause (i)(x)). (n) L/C Issuer Reports to the Administrative Agent. Unless otherwise agreed by the Administrative Agent, each L/C Issuer shall, on a monthly basis and when requested by the Administrative Agent, in addition to its notification obligations set forth elsewhere in this Section 2.04, provide the Administrative Agent a Letter of Credit Report, as follows: (i) reasonably prior to the time that such L/C Issuer issues, amends, increases or decreases a Letter of Credit, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender date of such issuance, amendment, increase or decrease and the Borrower, without stated amount of the consent Letters of any other Person.Credit issued by such L/C Issuer after giving 86
Appears in 2 contracts
Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each each, a “Non-Expiring Credit Commitment” and and, collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 2 contracts
Samples: Credit Agreement (La Quinta Holdings Inc.), Credit Agreement (La Quinta Holdings Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche Class of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche Class or tranches Classes of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then-outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(k)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then if consented to by the Swing Line Lender, there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between so required to be repaid in full on such earliest maturity date. For the avoidance of doubt, the commitment of the Swing Line Lender and to act in its capacity as such cannot be extended beyond the Borrower, Maturity Date for the Revolving Credit Facility (as such Maturity Date is in effect at the Acquisition Closing Date) or increased without the consent of any other Personits prior written consent.
Appears in 2 contracts
Samples: Credit Agreement (Gen Digital Inc.), Restatement Agreement (NortonLifeLock Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Participating Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of other Participating Revolving Credit Commitments is or are in effect (or will automatically be in effect upon such maturity) with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Loan on the earliest occurring maturity date such Swing Line Loan Maturity Date shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.26(l)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized cash collateralized in a manner reasonably satisfactory to the Swing Line Lender and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Participating Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date Maturity Date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 2 contracts
Samples: Credit Agreement (Altice USA, Inc.), Credit Agreement (Altice USA, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Nonnon-Expiring Credit Commitment” and collectively, the “Nonnon-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Nonnon-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Nonnon-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower applicable Borrowers shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 2 contracts
Samples: Credit Agreement (Change Healthcare Holdings, Inc.), Credit Agreement (TC3 Health, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche Class of Revolving Credit Commitments (the “Expiring Credit Revolving Commitment”) at a time when another tranche Class or tranches Classes of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Revolving Commitment” and collectively, the “Non-Expiring Credit Revolving Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche Class or tranches Classes of the Non-Expiring Credit Revolving Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure Revolving Exposure to exceed the aggregate amount of such Non-Expiring Credit Revolving Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized in an amount equal to the Minimum Collateral Amount and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Revolving Commitments at the maturity date of the Expiring Credit Commitment Revolving Commitments or if the Loans have been accelerated prior to the maturity date of the Expiring Credit CommitmentRevolving Commitments. Upon the maturity date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans Sublimit may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (American Casino & Entertainment Properties LLC), First Lien Credit and Guaranty Agreement (American Casino & Entertainment Properties LLC)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment Commitments or if the Loans have been accelerated prior to the maturity date of the Expiring Credit CommitmentCommitments. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans Sublimit may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 2 contracts
Samples: Credit Agreement (Beasley Broadcast Group Inc), Credit Agreement (Beasley Broadcast Group Inc)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Initial Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Initial Revolving Credit Loans and any reallocation of participating interests as contemplated in Section 2.04(m)) there shall exist sufficient unutilized Extended Revolving Credit Commitments with Revolving Credit Lenders that have agreed to participate in the Swing Line Loans so that the respective outstanding Swing Line Loans could be incurred pursuant to such Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and the same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personso required to be repaid in full on such earliest maturity date. Section 2.06.
Appears in 2 contracts
Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower Borrowers shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Lead Borrower, without the consent of any other Person.
Appears in 2 contracts
Samples: Credit Agreement (Bumble Inc.), Credit Agreement (Bumble Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each each, a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 2 contracts
Samples: Credit Agreement (NRG Energy, Inc.), Credit Agreement (Vivint Smart Home, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Letter of Credit Expiration Date in respect of any tranche of Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (i) if consented to by the “Expiring Credit Commitment”) at a time when another tranche L/C Issuer which issued such Letter of Credit, if one or more other tranches of Revolving Credit Commitments is or in respect of which the Letter of Credit Expiration Date shall not have so occurred are then in effect with a longer maturity date (each a “Non-Expiring effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan for which consent has been obtained shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(c) and (d)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (xii) to the extent that the amount of such reallocation would cause the aggregate credit exposure not reallocated pursuant to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and preceding clause (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingi), the Borrower shall still Cash Collateralize any such Letter of Credit in accordance with Section 2.03(g); provided that this sentence shall not be obligated to pay Swing Line Loans allocated applicable to the reallocation of the Letter of Credit participations occurring on the Maturity Date for the Series C Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit CommitmentFacility, which shall be covered by clause (p) below. Upon Commencing with the maturity date of any tranche of Revolving Credit CommitmentsCommitments (other than the Maturity Date for the Series C Revolving Credit Facility), the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonL/C Issuer.
Appears in 2 contracts
Samples: Credit Agreement (APX Group Holdings, Inc.), Credit Agreement (APX Group Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any Tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other Tranches of Revolving Credit Commitments in respect of which the Maturity Date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating Tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and to the extent any Letters of Credit are not able to be reallocated pursuant to this clause (l) and there are outstanding Revolving Credit Loans under the non-terminating Tranches, the Borrower agrees to repay all such Revolving Credit Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (l)) or (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.16 but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the “Expiring Credit Commitment”) at a time when another tranche or tranches percentage participations of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring in any Letter of Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.issued before such Maturity Date
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement (PPD, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche of Participating Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches of more other Participating Revolving Credit Commitments is or are then in effect with (or will automatically be in effect upon such maturity), such Letter of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Participating Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Sections 2.03(c) and (d)) under (and ratably participated in by Participating Revolving Credit Lenders pursuant to) the non-terminating Participating Revolving Credit Commitments up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Participating Revolving Credit Commitments continuing at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable L/C Issuer for the treatment of such Letter of Credit as a longer maturity date (each letter of credit under a “Non-Expiring Credit Commitment” and collectivelysuccessor credit facility have been agreed upon, the “Non-Expiring Credit Commitments”)Company shall, then with respect on or prior to each outstanding Swing Line Loan, if consented to by the applicable Swing Line LenderMaturity Date, on the earliest occurring maturity date cause all such Swing Line Loan shall Letters of Credit to be deemed reallocated replaced and returned to the tranche applicable L/C Issuer undrawn and marked “cancelled” or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount Company is unable to so replace and return lx any Letter(s) of Credit, such reallocation would cause the aggregate credit exposure to exceed the aggregate amount Letter(s) of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid secured by a “back to back” letter of credit reasonably satisfactory to the applicable L/C Issuer or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the applicable Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(g). Commencing with the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche Class of Revolving Credit Commitments, unless otherwise set forth herein, the sublimit for Swing Line Loans may applicable Letter of Credit Sublimit shall be reduced as in an amount agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other Personapplicable L/C Issuer.
Appears in 2 contracts
Samples: Credit Agreement (Liberty Latin America Ltd.), Credit Agreement (Liberty Latin America Ltd.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche of Participating Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches of more other Participating Revolving Credit Commitments is or are then in effect with (or will automatically be in effect upon such maturity), such Letter of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Participating Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(c) and (d)) under (and ratably participated in by Participating Revolving Credit Lenders pursuant to) the non-terminating Participating Revolving Credit Commitments up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Participating Revolving Credit Commitments continuing at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable L/C Issuer for the treatment of such Letter of Credit as a longer maturity date (each letter of credit under a “Non-Expiring Credit Commitment” and collectivelysuccessor credit facility have been agreed upon, the “Non-Expiring Credit Commitments”)applicable Borrower shall, then with respect on or prior to each outstanding Swing Line Loan, if consented to by the applicable Swing Line LenderMaturity Date, on the earliest occurring maturity date cause all such Swing Line Loan shall Letters of Credit to be deemed reallocated replaced and returned to the tranche applicable L/C Issuer undrawn and marked “cancelled” or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount applicable Borrower is unable to so replace and return any Letter(s) of Credit, such reallocation would cause the aggregate credit exposure to exceed the aggregate amount Letter(s) of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid secured by a “back to back” letter of credit reasonably satisfactory to the applicable L/C Issuer or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the applicable Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(g). Commencing with the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans may applicable Letter of Credit Sublimit shall be reduced as in an amount agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other Personapplicable L/C Issuer.
Appears in 2 contracts
Samples: Credit Agreement (Liberty Latin America Ltd.), Credit Agreement (Liberty Latin America Ltd.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Initial Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Initial Revolving Credit Loans and any reallocation of participating interests as contemplated in Section 2.04(m)) there shall exist sufficient unutilized Extended Revolving Credit Commitments with Revolving Credit Lenders that have agreed to participate in the Swing Line Loans so that the respective outstanding Swing Line Loans could be incurred pursuant to such Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and the same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personso required to be repaid in full on such earliest maturity date.
Appears in 2 contracts
Samples: Credit Agreement (Dun & Bradstreet Holdings, Inc.), Credit Agreement (Dun & Bradstreet Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche Class of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche Class or tranches Classes of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then-outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided, however, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(k)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then if consented to by the Swing Line Lender, there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between so required to be repaid in full on such earliest maturity date. For the avoidance of doubt, the commitment of the Swing Line Lender and to act in its capacity as such cannot be extended beyond the Borrower, Maturity Date for the Revolving Credit Facility (as such Maturity Date is in effect at the Closing Date) or increased without the consent of any other Person.its prior written consent. Section 2.05
Appears in 2 contracts
Samples: Credit Agreement (Utz Brands, Inc.), Abl Credit Agreement (Utz Brands, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of participating interests as contemplated in Section 2.04(m)) there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant to the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and the same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personso required to be repaid in full on such earliest maturity date.
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Black Knight, Inc.), Credit and Guaranty Agreement (Black Knight, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Revolving Credit Commitments, Additional Revolving Credit Commitments or Extended Revolving Credit Commitments (such expiring tranche, the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments, Additional Revolving Credit Commitments or Extended Revolving Credit Commitments available in Dollars is or are in effect with a longer maturity date Maturity Date (each each, a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Swingline Loan, if consented to by the applicable Swing Line Swingline Lender, on the earliest occurring maturity date Maturity Date such Swing Line Swingline Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Swingline Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized or Backstopped and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the applicable Parent Borrower shall still be obligated to pay Swing Line Swingline Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date Maturity Date of the Expiring Credit Commitment. Upon On the maturity date Maturity Date of any tranche of Revolving Expiring Credit CommitmentsCommitment, the sublimit for Swing Line Swingline Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonSwingline Lender.
Appears in 2 contracts
Samples: Credit Agreement (Clear Channel Outdoor Holdings, Inc.), Abl Credit Agreement (Clear Channel Outdoor Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one (1) or more other tranches of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date shall not have occurred are then in effect, (each a “Non-Expiring Credit Commitment” and collectively, x) the “Non-Expiring Credit Commitments”), then with respect outstanding Revolving Loans shall be repaid pursuant to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Section 2.7(g) on the earliest occurring such maturity date to the extent and in an amount sufficient to permit the reallocation of the Letter of Credit Usage relating to the outstanding Letters of Credit contemplated by clause (y) below and (y) such Swing Line Loan Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Lenders to purchase participations therein and to make payments in respect thereof pursuant to Section 2.3(d)) under (and ratably participated in by Revolving Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the Revolving Credit Commitments in respect of such non-terminating tranches at such time (it being understood that (1) the participations therein of Revolving Lenders under the maturing tranche shall be deemed reallocated to the tranche or tranches correspondingly released and (2) no partial face amount of the Non-Expiring any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent that not reallocated pursuant to the amount of such reallocation would cause immediately preceding clause (i), but without limiting the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingobligations with respect thereto, the Borrower shall still be obligated provide an L/C Backstop with respect to pay Swing Line Loans allocated any such Letter of Credit in a manner reasonably satisfactory to the applicable L/C Issuer. If, for any reason, such L/C Backstop is not provided or the reallocation does not occur, the Revolving Lenders under the maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit; provided that, notwithstanding anything to the contrary contained herein, upon any subsequent repayment of the Revolving Loans, the reallocation set forth in clause (i) shall automatically and concurrently occur to the extent of such repayment (it being understood that no partial face amount of any Letter of Credit may be so reallocated). Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Revolving Credit Lenders holding Commitments shall have no effect upon (and shall not diminish) the Expiring Credit Commitments at the maturity date percentage participations of the Expiring Revolving Lenders in any Letter of Credit Commitment or if the Loans have been accelerated prior to the issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may L/C Sublimit under any tranche of Revolving Credit Commitments that has not so then matured shall be reduced as agreed between with such Revolving Lenders; provided that in no event shall such sublimit be less than the Swing Line Lender sum of (x) the Letter of Credit Usage with respect to the Revolving Lenders under such extended tranche immediately prior to such maturity date and (y) the Borrower, without face amount of the consent Letters of any other PersonCredit reallocated to such tranche of Revolving Credit Commitments pursuant to clause (i) of the second preceding sentence above (assuming Revolving Loans are repaid in accordance with clause (i)(x)).
Appears in 2 contracts
Samples: Loan Agreement (Vantiv, Inc.), Third Amendment and Restatement Agreement
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or more other tranches of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date (each a “Non-Expiring shall not have occurred are then in effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(c)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (xii) to the extent that the amount of such reallocation would cause the aggregate credit exposure not reallocated pursuant to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and preceding clause (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingi), the Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(f). If, for any reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving Credit Lenders holding under the Expiring maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Revolving Credit Commitments at shall have no effect upon (and shall not diminish) the maturity date percentage participations of the Expiring Revolving Credit Commitment or if the Loans have been accelerated prior to the Lenders in any Letter of Credit issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between with the Swing Line Lender and Lenders under the Borrower, without the consent of any other Personextended tranches.
Appears in 2 contracts
Samples: Credit Agreement (Epicor International Holdings, Inc.), Credit Agreement (Epicor Software Corp)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche of Participating Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches of more other Participating Revolving Credit Commitments is or are then in effect with (or will automatically be in effect upon such maturity), such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Participating Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Sections 2.03(c) and (d)) under (and ratably participated in by Participating Revolving Credit Lenders pursuant to) the non-terminating Participating Revolving Credit Commitments up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Participating Revolving Credit Commitments continuing at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable L/C Issuer for the treatment of such Letter of Credit as a longer maturity date (each letter of credit under a “Non-Expiring Credit Commitment” and collectivelysuccessor credit facility have been agreed upon, the “Non-Expiring Credit Commitments”)Borrower shall, then with respect on or prior to each outstanding Swing Line Loan, if consented to by the applicable Swing Line LenderMaturity Date, on the earliest occurring maturity date cause all such Swing Line Loan shall Letters of Credit to be deemed reallocated replaced and returned to the tranche applicable L/C Issuer undrawn and marked “cancelled” or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount Borrower is unable to so replace and return any Letter(s) of Credit, such reallocation would cause the aggregate credit exposure to exceed the aggregate amount Letter(s) of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid secured by a “back to back” letter of credit reasonably satisfactory to the applicable L/C Issuer or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(g). Commencing with the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letter of Credit Sublimit shall be reduced as in an amount agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonL/C Issuer.
Appears in 2 contracts
Samples: First Lien Credit Agreement (Portillo's Inc.), First Lien Credit Agreement (Portillo's Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower Borrowers shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Parent Borrower, without the consent of any other Person.
Appears in 2 contracts
Samples: Credit Agreement (PF2 SpinCo, Inc.), Credit Agreement (Change Healthcare Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche Tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches more other Tranches of Revolving Credit Commitments is or in respect of which the Maturity Date shall not have occurred are then in effect with a longer maturity date (effect, each a “Non-Expiring unexpired Letter of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided that (x) in respect of each such non-terminating Tranches up to the extent that the an aggregate amount of for any such reallocation would cause the aggregate credit exposure Tranche not to exceed the aggregate amount of the unutilized Revolving Credit Commitments thereunder at such Non-Expiring Credit Commitments, immediately prior to such reallocation the time (it being understood that no partial face amount of Swing Line Loans any Letter of Credit may be so reallocated) and to the extent any unexpired Letters of Credit are not able to be reallocated equal pursuant to this clause (i) and there are outstanding Revolving Credit Loans under any non-terminating Tranche, the Borrower agrees to repay, ratably with respect to any such excess shall be repaid Tranche, all such Revolving Credit Loans (or Cash Collateralized such lesser amount as is necessary to enable a reallocation of all unexpired Letters of Credit pursuant to this clause (i)) and (yii) notwithstanding to the foregoing, if a Default or Event of Default has occurred and is continuingextent not reallocated pursuant to the immediately preceding clause (i), the Borrower shall still be obligated Cash Collateralize any such Letter of Credit in a manner reasonably satisfactory to pay Swing Line Loans allocated the applicable L/C Issuer but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given Tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other PersonTranche in any Letter of Credit issued before such Maturity Date.
Appears in 2 contracts
Samples: Credit Agreement (Visteon Corp), Credit Agreement (Visteon Corp)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any Revolving Facility of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Revolving Credit Commitments in respect of which the Maturity Date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating Revolving Facilities up to an aggregate amount not to exceed the aggregate principal amount of the Available Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and to the extent any Letters of Credit are not able to be reallocated pursuant to this clause (i) and there are outstanding Revolving Credit Loans under the non-terminating Revolving Facilities, the Borrower agrees to repay all such Revolving Credit Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (i)) or (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.16 but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the “Expiring Credit Commitment”) at a time when another tranche or tranches percentage participations of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring in any Letter of Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personissued before such Maturity Date.
Appears in 2 contracts
Samples: Credit Agreement (Medpace Holdings, Inc.), Credit Agreement (Medpace Holdings, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any Tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Revolving Credit Commitments in respect of which the Maturity Date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating Tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and to the extent any Letters of Credit are not able to be reallocated pursuant to this clause (i) and there are outstanding Revolving Credit Loans under the non-terminating Tranches, the Borrowers agree to repay all such Revolving Credit Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (i)) or (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Dutch Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.18 but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the “Expiring Credit Commitment”) at a time when another tranche or tranches percentage participations of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring in any Letter of Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.issued before such Maturity Date
Appears in 2 contracts
Samples: Credit Agreement (Axalta Coating Systems Ltd.), Credit Agreement (Axalta Coating Systems Ltd.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit issued under such tranche, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or more other tranches of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date shall not have occurred are then in effect, (each a “Non-Expiring Credit Commitment” and collectively, x) the “Non-Expiring Credit Commitments”), then with respect outstanding Revolving Loans shall be repaid pursuant to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Section 2.7(c) on the earliest occurring such maturity date to the extent and in an amount sufficient to permit the reallocation of the L/C Exposure relating to the outstanding Letters of Credit contemplated by clause (y) below and (y) such Swing Line Loan Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Lenders to purchase participations therein and to make payments in respect thereof pursuant to Section 2.3(d)) under (and ratably participated in by Revolving Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the Revolving Credit Commitments in respect of such non-terminating tranches at such time (it being understood that (1) the participations therein of Revolving Lenders under the maturing tranche shall be deemed reallocated to the tranche or tranches correspondingly released and (2) no partial face amount of the Non-Expiring any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent that not reallocated pursuant to the amount of such reallocation would cause immediately preceding clause (i), but without limiting the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingobligations with respect thereto, the Borrower shall still be obligated provide an L/C Backstop with respect to pay Swing Line Loans allocated any such Letter of Credit in a manner reasonably satisfactory to the applicable Issuing Bank. If, for any reason, such L/C Backstop is not provided or the reallocation does not occur, the Revolving Lenders under the maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit; provided that, notwithstanding anything to the contrary contained herein, upon any subsequent repayment of the Revolving Loans, the reallocation set forth in clause (i) shall automatically and concurrently occur to the extent of such repayment (it being understood that no partial face amount of any Letter of Credit may be so reallocated). Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Revolving Credit Lenders holding Commitments shall have no effect upon (and shall not diminish) the Expiring Credit Commitments at the maturity date percentage participations of the Expiring Revolving Lenders in any Letter of Credit Commitment or if the Loans have been accelerated prior to the issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may L/C Sublimit under any tranche of Revolving Credit Commitments that has not so then matured shall be reduced as agreed between by the Swing Line Lender Borrower with such Revolving Lenders; provided that in no event shall such sublimit be less than the sum of (x) the L/C Exposure with respect to the Revolving Lenders under such extended tranche immediately prior to such maturity date and (y) the Borrowerface amount of the Letters of Credit reallocated to such tranche of Revolving Credit Commitments pursuant to clause (i) of the first sentence of this clause (k) (assuming Revolving Loans are repaid in accordance with clause (i)(x)). On the 2023 Revolving Credit Termination Date, without the consent L/C Exposure (if any) will be reallocated pursuant to the terms of any other Personthis Section 2.3(k).
Appears in 2 contracts
Samples: Credit and Guarantee Agreement (Lions Gate Entertainment Corp /Cn/), Credit and Guarantee Agreement (Lions Gate Entertainment Corp /Cn/)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swingline Loans shall be repaid in full on such Swing Line Loan date (and there shall be no adjustment to the participations in such Swingline Loans as a result of the occurrence of such maturity date); provided, however that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(l)), there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swingline Loans could be incurred pursuant to the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swingline Loans and same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for Swing Line and such Swingline Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.so required to be repaid in full on such earliest maturity date. AMERICAS/2023095923.12023095923.18 96 Credit Agreement
Appears in 1 contract
Samples: Credit Agreement (Sensata Technologies Holding PLC)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Initial Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or more other tranches of Revolving Credit Commitments is or in respect of which the maturity date shall not have occurred are then in effect with a longer and which the Revolving Credit Lenders thereunder have agreed to participate in the L/C Obligations, (x) the outstanding Initial Revolving Credit Loans shall be repaid pursuant to Section 2.09 on such maturity date to the extent and in an amount sufficient to permit the reallocation of the Outstanding Amount of L/C Obligations relating to the outstanding Letters of Credit contemplated by clause (each a “Non-Expiring y) below and (y) such Letters of Credit Commitment” shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and collectively, the “Non-Expiring Credit Commitments”to make payments in respect thereof pursuant to Section 2.04(c), then with respect to each outstanding Swing Line Loan, if consented to ) under (and ratably participated in by the applicable Swing Line Lender, on Revolving Credit Lenders pursuant to) the earliest occurring maturity date Revolving Credit Commitments in respect of such Swing Line Loan non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the Revolving Credit Commitments in respect of such nonterminating tranches at such time (it being understood that (1) the participations therein of Initial Revolving Credit Lenders under the maturing tranche shall be deemed reallocated to the tranche or tranches correspondingly released and (2) no partial face amount of the Non-Expiring any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent that not reallocated pursuant to the amount of such reallocation would cause immediately preceding clause (m), but without limiting the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingobligations with respect thereto, the Borrower shall still provide a backstop letter of credit or Cash Collateral with respect to any such Letter of Credit in a manner reasonably satisfactory to the applicable L/C Issuer. If, for any reason, such backstop letter of credit or Cash Collateral is not provided, or the reallocation does not occur, the Initial Revolving Credit Lenders under the maturing tranche shall continue to be obligated responsible for their participating interests in the Letters of Credit; provided that, notwithstanding anything to pay Swing Line Loans allocated the contrary contained herein, upon any subsequent repayment of the Initial Revolving Credit Loans, the reallocation set forth in clause (m) shall automatically and concurrently occur to the extent of such repayment (it being understood that no partial face amount of any Letter of Credit may be so reallocated). Except to the extent of reallocations of participations pursuant to clause (m) of this Section 2.04(m), the occurrence of a maturity date with respect to the Initial Revolving Credit Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Initial Revolving Credit Lenders in any Letter of Credit issued before such maturity date. Commencing with the maturity date of the Initial Revolving Credit Commitments, the Letter of Credit Sublimit under any tranche of Revolving Credit Commitments that has not so then matured shall be as agreed by the Borrower with such Revolving Credit Lenders; provided that in no event shall such sublimit be less than the sum of (x) the Outstanding Amount of L/C Obligations with respect to the Revolving Credit Lenders holding the Expiring Credit Commitments at the under such extended tranche immediately prior to such maturity date and (y) the face amount of the Expiring Letters of Credit Commitment or if the Loans have been accelerated prior reallocated to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any such tranche of Revolving Credit Commitments, the sublimit for Swing Line Commitments pursuant to clause (m) of this Section 2.04(m) (assuming Initial Revolving Credit Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personare repaid in accordance with clause (i)(x)).
Appears in 1 contract
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Loans and any reallocation of participating interests as contemplated in Section 2.04(m)) there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant to the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and the same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personso required to be repaid in full on such earliest maturity date. Section 2.06.
Appears in 1 contract
Samples: Credit and Guaranty Agreement
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date Maturity Date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date Maturity Date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(lm)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date Maturity Date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 1 contract
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or more other tranches of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date shall not have occurred are then in effect, (each a “Non-Expiring x) the outstanding Revolving Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect Loans shall be repaid pursuant to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Section 2.09 on the earliest occurring such maturity date to the extent and in an amount sufficient to permit the reallocation of the Outstanding Amount of L/C Obligations relating to the outstanding Letters of Credit contemplated by clause (y) below and (y) such Swing Line Loan Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make payments in respect thereof pursuant to Section 2.04(c)) under (and ratably participated in by Revolving Credit Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the Revolving Credit Commitments in respect of such nonterminating tranches at such time (it being understood that (1) the participations therein of Revolving Credit Lenders under the maturing tranche shall be deemed reallocated to the tranche or tranches correspondingly released and (2) no partial face amount of the Non-Expiring any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent that not reallocated pursuant to the amount of such reallocation would cause immediately preceding clause (i), but without limiting the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingobligations with respect thereto, the Borrower shall still be obligated provide a backstop letter of credit or Cash Collateralization with respect to pay Swing Line Loans allocated any such Letter of Credit in a manner reasonably satisfactory to the applicable L/C Issuer. If, for any reason, such backstop letter of credit or Cash Collateralization is not provided, or the reallocation does not occur, the Revolving Credit Lenders holding under the Expiring maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit; provided, that, notwithstanding anything to the contrary contained herein, upon any subsequent repayment of the Revolving Credit Loans, the reallocation set forth in clause (i) shall automatically and concurrently occur to the extent of such repayment (it being understood that no partial face amount of any Letter of Credit may be so reallocated). Except to the extent of reallocations of participations pursuant to clause (i) of this Section 2.04(m), the occurrence of a maturity date with respect to a given tranche of Revolving Credit Commitments at shall have no effect upon (and shall not diminish) the maturity date percentage participations of the Expiring Revolving Credit Commitment or if the Loans have been accelerated prior to the Lenders in any Letter of Credit issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letter of Credit Sublimit under any tranche of Revolving Credit Commitments that has not so then matured shall be reduced as agreed between by the Swing Line Lender Borrower with such Revolving Credit Lenders; provided, that in no event shall such sublimit be less than the sum of (x) the Outstanding Amount of L/C Obligations with respect to the Revolving Credit Lenders under such extended tranche immediately prior to such maturity date and (y) the Borrower, without face amount of the consent Letters of any other PersonCredit reallocated to such tranche of Revolving Credit Commitments pursuant to clause (i) of this Section 2.04(m) (assuming Revolving Credit Loans are repaid in accordance with clause (i)(x)).
Appears in 1 contract
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche Class of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches more other Classes of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date (each a “Non-Expiring shall not have occurred are then in effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(c)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided in respect of such non-terminating Classes up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (xii) to the extent that the amount of such reallocation would cause the aggregate credit exposure not reallocated pursuant to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and preceding clause (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingi), the Borrower Borrowers shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize, any such Letter of Credit in accordance with Section 2.03(f). If, for any reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving Credit Lenders holding under the Expiring maturing Class shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given Class of Revolving Credit Commitments at shall have no effect upon (and shall not diminish) the maturity date percentage participations of the Expiring Revolving Credit Commitment or if the Loans have been accelerated prior to the Lenders in any Letter of Credit issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between with the Swing Line Lender and Lenders under the Borrowerextended Classes. For the avoidance of doubt, without notwithstanding anything contained herein, the consent commitment of any other PersonL/C Issuer to act in its capacity as such cannot be extended beyond the Maturity Date for the Revolving Credit Facility (as such Maturity Date is in effect at the Closing Date) or increased without its prior written consent.
Appears in 1 contract
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each each, a “Nonnon-Expiring Credit Commitment” and collectively, the “Nonnon-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Nonnon-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Nonnon-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 1 contract
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of other Revolving Credit Commitments is or are in effect (or will automatically be in effect upon such maturity) with a longer maturity date (each a “Nonnon-Expiring Credit Commitment” and collectively, the “Nonnon-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, Loan on the earliest occurring maturity date such Swing Line Loan Maturity Date shall be deemed reallocated to the tranche or tranches of the Nonnon-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Nonnon-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(m)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized cash collateralized in a manner reasonably satisfactory to the Swing Line Lender and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall CHAR1\1970297v6 still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date Maturity Date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 1 contract
Samples: Credit Agreement (Portillo's Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any Tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Revolving Credit Commitments in respect of which the Maturity Date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating Tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and to the extent any Letters of Credit are not able to be reallocated pursuant to this clause (m) and there are outstanding Revolving Credit Loans under the non-terminating Tranches, the Borrowers agree to repay all such Revolving Credit Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (m)) or (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Lux Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.16 but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the “Expiring Credit Commitment”) at a time when another tranche or tranches percentage participations of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring in any Letter of Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.issued before such Maturity Date
Appears in 1 contract
Samples: Credit Agreement (Ortho Clinical Diagnostics Holdings PLC)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each each, a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Lead Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Lead Borrower, without the consent of any other Person.
Appears in 1 contract
Samples: Credit Agreement (CONDUENT Inc)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Nonnon-Expiring Credit Commitment” and collectively, the “Nonnon-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line LenderLender and the Administrative Agent, on the earliest occurring maturity date risk participations in such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Nonnon-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Nonnon-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans Loan participations to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date of any tranche of Revolving Credit CommitmentsCommitments (other than the Maturity Date for the Series C Revolving Credit Facility), the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 1 contract
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche of Participating Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches of more other Participating Revolving Credit Commitments is or are then in effect with (or will automatically be in effect upon such maturity), such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Participating Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Sections 2.26(c) and (d)) under (and ratably participated in by Participating Revolving Credit Lenders pursuant to) the non-terminating Participating Revolving Credit Commitments up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Participating Revolving Credit Commitments continuing at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable L/C Issuer for the treatment of such Letter of Credit as a longer maturity date (each letter of credit under a “Non-Expiring Credit Commitment” and collectivelysuccessor credit facility have been agreed upon, the “Non-Expiring Credit Commitments”)Borrower shall, then with respect on or prior to each outstanding Swing Line Loan, if consented to by the applicable Swing Line LenderMaturity Date, on the earliest occurring maturity date cause all such Swing Line Loan shall Letters of Credit to be deemed reallocated replaced and returned to the tranche applicable L/C Issuer undrawn and marked “cancelled” or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount Borrower is unable to so replace and return any Letter(s) of Credit, such reallocation would cause the aggregate credit exposure to exceed the aggregate amount Letter(s) of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid secured by a “back to back” letter of credit reasonably satisfactory to the applicable L/C Issuer or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.26(g). Commencing with the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letter of Credit Sublimit shall be reduced as in an amount agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonL/C Issuers.
Appears in 1 contract
Samples: Credit Agreement (Altice USA, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date Maturity Date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date Maturity Date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(l)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Specified Default has occurred and is continuing, the Borrower Borrowers shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date Maturity Date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date 193389590_5 Maturity Date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 1 contract
Provisions Related to Extended Revolving Credit Commitments. If the maturity date Maturity Date shall have occurred in respect of any tranche Class of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche Class or tranches Classes of Revolving Credit Commitments is or are in effect with a longer maturity date Maturity Date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date Maturity Date such Swing Line Loan shall be deemed reallocated to the tranche Class or tranches Classes of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation (after giving effect to any repayments of Revolving Credit Loans and any reallocation of Letter of Credit participations as contemplated in Section 2.03(m)) the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower Borrowers shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date Maturity Date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.
Appears in 1 contract
Samples: Syndicated Facility Agreement (DTZ Jersey Holdings LTD)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any Revolving Facility of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Revolving Credit Commitments in respect of which the Maturity Date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to this Section 2.03) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating Revolving Facilities (x) up to an aggregate amount not to exceed the aggregate principal amount of the Available Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (y) so long as immediately after giving effect to such reallocation, the aggregate stated amount available to be drawn under all outstanding Letters of Credit issued by such L/C Issuer under a Revolving Facility would not exceed such L/C Issuer’s L/C Commitment under such Revolving Facility. To the extent any Letters of Credit are not able to be reallocated pursuant to clause (x) of the immediately preceding sentence and there are outstanding Revolving Credit Loans under the non-terminating Revolving Facilities, the Borrowers agree to repay all such Revolving Credit Loans (or such lesser amount as is necessary to reallocate all Letters of Credit pursuant to this clause (i)) or (ii) to the extent not reallocated pursuant to immediately preceding clause (i) or clause (y) of the second preceding sentence, the Borrowers shall Cash Collateralize any such Letter of Credit in accordance with Section 2.14 but only up to the amount of such Letter of Credit not so reallocated. Except to the extent of reallocations of participations pursuant to clause (i) of the immediately preceding sentence, the occurrence of a Maturity Date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the “Expiring Credit Commitment”) at a time when another tranche or tranches percentage participations of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring in any Letter of Credit Commitments at the maturity date issued before such Maturity Date. Table of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.Contents
Appears in 1 contract
Samples: Credit Agreement (Xura, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Non-Non- Expiring Credit Commitments on a pro rata basis; provided that (x) to the 4849-7283-2717 113 extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower Borrowers shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Lead Borrower, without the consent of any other Person.
Appears in 1 contract
Samples: Credit Agreement (Bumble Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each each, a “Nonnon-Expiring Credit Commitment” and collectively, the “Nonnon-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall be deemed reallocated to the tranche or tranches of the Nonnon-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Nonnon-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, except as otherwise agreed by the Swing Line Lender, the sublimit for Swing Line Loans may shall be reduced as agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonLender.
Appears in 1 contract
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred Maturity Date in respect of any tranche of Participating Revolving Credit Commitments occurs prior to the expiry date of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches of more other Participating Revolving Credit Commitments is or are then in effect with (or will automatically be in effect upon such maturity), such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Participating Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Sections 2.26(c) and (d)) under (and ratably participated in by Participating Revolving Credit Lenders pursuant to) the non-terminating Participating Revolving Credit Commitments up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Participating Revolving Credit Commitments continuing at such time (it being understood that no partial face amount of 122 any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i) and unless provisions reasonably satisfactory to the applicable L/C Issuer for the treatment of such Letter of Credit as a longer maturity date (each letter of credit under a “Non-Expiring Credit Commitment” and collectivelysuccessor credit facility have been agreed upon, the “Non-Expiring Credit Commitments”)Borrower shall, then with respect on or prior to each outstanding Swing Line Loan, if consented to by the applicable Swing Line LenderMaturity Date, on the earliest occurring maturity date cause all such Swing Line Loan shall Letters of Credit to be deemed reallocated replaced and returned to the tranche applicable L/C Issuer undrawn and marked “cancelled” or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount Borrower is unable to so replace and return any Letter(s) of Credit, such reallocation would cause the aggregate credit exposure to exceed the aggregate amount Letter(s) of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid secured by a “back to back” letter of credit reasonably satisfactory to the applicable L/C Issuer or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.26(g). Commencing with the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date Maturity Date of any tranche Class of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letter of Credit Sublimit shall be reduced as in an amount agreed between solely with the Swing Line Lender and the Borrower, without the consent of any other PersonL/C Issuers.
Appears in 1 contract
Samples: Credit Agreement (Altice USA, Inc.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit Agreement Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or more other tranches of Revolving Credit Commitments is or are in effect with a longer respect of which the maturity date (each a “Non-Expiring shall not have occurred are then in effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Non-Expiring obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(d)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments on a pro rata basis; provided that in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time and (xii) to the extent that the amount of such reallocation would cause the aggregate credit exposure not reallocated pursuant to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and preceding clause (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingi), the Borrower shall still be obligated to pay Swing Line Loans allocated to Cash Collateralize any such Letter of Credit in accordance with Section 2.03(g). If, for any reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving Credit Lenders holding under the Expiring maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Revolving Credit Commitments at shall have no effect upon (and shall not diminish) the maturity date percentage participations of the Expiring Revolving Credit Commitment or if the Loans have been accelerated prior to the Lenders in any Letter of Credit issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between with the Swing Line Lender and Lenders under the Borrower, without the consent of any other Personextended tranches.
Appears in 1 contract
Samples: Credit Agreement (Sensata Technologies Holding N.V.)
Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Initial Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or more other tranches of Revolving Credit Commitments is or in respect of which the maturity date shall not have occurred are then in effect with a longer and which the Revolving Credit Lenders thereunder have agreed to participate in the L/C Obligations, (x) the outstanding Initial Revolving Credit Loans shall be repaid pursuant to Section 2.09 on such maturity date to the extent and in an amount sufficient to permit the reallocation of the Outstanding Amount of L/C Obligations relating to the outstanding Letters of Credit contemplated by clause (each a “Non-Expiring y) below and (y) such Letters of Credit Commitment” shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and collectively, the “Non-Expiring Credit Commitments”to make payments in respect thereof pursuant to Section 2.04(c), then with respect to each outstanding Swing Line Loan, if consented to ) under (and ratably participated in by the applicable Swing Line Lender, on Revolving Credit Lenders pursuant to) the earliest occurring maturity date Revolving Credit Commitments in respect of such Swing Line Loan non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the Revolving Credit Commitments in respect of such nonterminating tranches at such time (it being understood that the participations therein of Initial Revolving Credit Lenders under the maturing tranche shall be deemed reallocated to the tranche or tranches correspondingly released and no partial face amount of the Non-Expiring any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent that not reallocated pursuant to the amount of such reallocation would cause immediately preceding clause (i), but without limiting the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingobligations with respect thereto, the Borrower shall still provide a backstop letter of credit or Cash Collateral with respect to any such Letter of Credit in a manner reasonably satisfactory to the applicable L/C Issuer. If, for any reason, such backstop letter of credit or Cash Collateral is not provided, or the reallocation does not occur, the Initial Revolving Credit Lenders under the maturing tranche shall continue to be obligated responsible for their participating interests in the Letters of Credit; provided that, notwithstanding anything to pay Swing Line Loans allocated the contrary contained herein, upon any subsequent repayment of the Initial Revolving Credit Loans, the reallocation set forth in clause (i) shall automatically and concurrently occur to the extent of such repayment (it being understood that no partial face amount of any Letter of Credit may be so reallocated). Except to the extent of reallocations of participations pursuant to clause (i) of this Section 2.04(m), the occurrence of a maturity date with respect to the Initial Revolving Credit Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Initial Revolving Credit Lenders in any Letter of Credit issued before such maturity date. Commencing with the maturity date of the Initial Revolving Credit Commitments, the Letter of Credit Sublimit under any tranche of Revolving Credit Commitments that has not so then matured shall be as agreed by the Borrower with such Revolving Credit Lenders; provided that in no event shall such sublimit be less than the sum of (x) the Outstanding Amount of L/C Obligations with respect to the Revolving Credit Lenders holding the Expiring Credit Commitments at the under such extended tranche immediately prior to such maturity date and (y) the face amount of the Expiring Letters of Credit Commitment or if the Loans have been accelerated prior reallocated to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any such tranche of Revolving Credit Commitments, the sublimit for Swing Line Commitments pursuant to clause (i) of this Section 2.04(m) (assuming Initial Revolving Credit Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personare repaid in accordance with clause (i)(x)).
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Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche Class of Revolving Credit Facility Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or tranches more other Classes of Revolving Credit Facility Commitments is or are in effect with a longer respect of which the maturity date (each a “Non-Expiring shall not have occurred are then in effect, such Letters of Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”), then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date such Swing Line Loan shall automatically be deemed reallocated to the tranche or tranches have been issued (including for purposes of the Nonobligations of the Revolving Lenders to purchase participations therein and to make Revolving Facility Loans and payments in respect thereof pursuant to Section 5.6 under (and ratably participated in by Lenders pursuant to) the Revolving Facility Commitments in respect of such non-Expiring terminating Classes up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Facility Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent that the amount of such reallocation would cause the aggregate credit exposure not reallocated pursuant to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and preceding clause (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingi), the Borrower shall still Cash Collateralize any such Letter of Credit in accordance with Section 5.10(1). If, for any reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving Lenders under the maturing Class shall continue to be obligated to pay Swing Line Loans allocated responsible for their participating interests in the Letters of Credit. Except to the Revolving Credit Lenders holding extent of reallocations of participations pursuant to clause (i) of the Expiring Credit Commitments at second preceding sentence, the occurrence of a maturity date with respect to a given Class of Revolving Facility Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Expiring Revolving Lenders in any Letter of Credit Commitment or if the Loans have been accelerated prior to the issued before such maturity date of the Expiring Credit Commitmentdate. Upon Commencing with the maturity date of any tranche Class of Revolving Credit Facility Commitments, the sublimit for Swing Line Loans may Letters of Credit shall be reduced as agreed between with the Swing Line Lender and Lenders under the Borrowerextended Classes. For the avoidance of doubt, without notwithstanding anything contained herein, the consent commitment of any other PersonIssuing Bank to act in its capacity as such cannot be extended beyond the Maturity Date for the Revolving Facility (as such Maturity Date is in effect at the Closing Date) or increased without its prior written consent.
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Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Revolving Credit Commitments (the “Expiring Credit Commitment”) at a time when another tranche or tranches of Revolving Credit Commitments is or are in effect with a longer maturity date (each a “Non-Expiring Credit Commitment” and collectively, the “Non-Expiring Credit Commitments”)date, then with respect to each outstanding Swing Line Loan, if consented to by the applicable Swing Line Lender, on the earliest occurring maturity date all then outstanding Swing Line Loans shall be repaid in full on such date (and there shall be no adjustment to the participations in such Swing Line Loan Loans as a result of the occurrence of such maturity date); provided, that if on the occurrence of such earliest maturity date (after giving effect to any repayments of Revolving Loans and any reallocation of participating interests as contemplated in Section 2.04(m)) there shall exist sufficient unutilized Extended Revolving Credit Commitments so that the respective outstanding Swing Line Loans could be incurred pursuant to the Extended Revolving Credit Commitments which will remain in effect after the occurrence of such maturity date, then there shall be an automatic adjustment on such date of the participations in such Swing Line Loans and the same shall be deemed reallocated to have been incurred solely pursuant to the tranche or tranches of the Non-Expiring Credit Commitments on a pro rata basis; provided that (x) to the extent that the amount of such reallocation would cause the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuing, the Borrower shall still be obligated to pay Swing Line Loans allocated to the Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of relevant Extended Revolving Credit Commitments, the sublimit for and such Swing Line Loans may shall not be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Personso required to be repaid in full on such earliest maturity date.
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Provisions Related to Extended Revolving Credit Commitments. If the maturity date shall have occurred in respect of any tranche of Initial Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (the “Expiring Credit Commitment”i) at a time when another tranche if one or more other tranches of Revolving Credit Commitments is or in respect of which the maturity date shall not have occurred are then in effect with a longer and which the Revolving Credit Lenders thereunder have agreed to participate in the L/C Obligations, (x) the outstanding Initial Revolving Credit Loans shall be repaid pursuant to Section 2.09 on such maturity date to the extent and in an amount sufficient to permit the reallocation of the Outstanding Amount of L/C Obligations relating to the outstanding Letters of Credit contemplated by clause (each a “Non-Expiring y) below and (y) such Letters of Credit Commitment” shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and collectively, the “Non-Expiring Credit Commitments”to make payments in respect thereof pursuant to Section 2.04(c), then with respect to each outstanding Swing Line Loan, if consented to ) under (and ratably participated in by the applicable Swing Line Lender, on Revolving Credit Lenders pursuant to) the earliest occurring maturity date Revolving Credit Commitments in respect of such Swing Line Loan non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the Revolving Credit Commitments in respect of such nonterminating tranches at such time (it being understood that (1) the participations therein of Initial Revolving Credit Lenders under the maturing tranche shall be deemed reallocated to the tranche or tranches correspondingly released and (2) no partial face amount of the Non-Expiring any Letter of Credit Commitments on a pro rata basis; provided that may be so reallocated) and (xii) to the extent that not reallocated pursuant to the amount of such reallocation would cause immediately preceding clause (i), but without limiting the aggregate credit exposure to exceed the aggregate amount of such Non-Expiring Credit Commitments, immediately prior to such reallocation the amount of Swing Line Loans to be reallocated equal to such excess shall be repaid or Cash Collateralized and (y) notwithstanding the foregoing, if a Default or Event of Default has occurred and is continuingobligations with respect thereto, the Borrower shall still be obligated provide a backstop letter of credit or Cash Collateral with respect to pay Swing Line Loans allocated any such Letter of Credit in a manner reasonably satisfactory to the applicable L/C Issuer. If, for any reason, such backstop letter of credit or Cash Collateral is not provided, or the reallocation does not occur, the Initial Revolving Credit Lenders holding the Expiring Credit Commitments at the maturity date of the Expiring Credit Commitment or if the Loans have been accelerated prior to the maturity date of the Expiring Credit Commitment. Upon the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Swing Line Loans may be reduced as agreed between the Swing Line Lender and the Borrower, without the consent of any other Person.84
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