Common use of Request for Incremental Commitments Clause in Contracts

Request for Incremental Commitments. By written notice sent to the Administrative Agent (which the Administrative Agent shall promptly distribute to the Lenders), the Borrower may request (i) one or more increases in the Revolving Commitments (a “Revolving Commitment Increase”) and/or (ii) one or more incremental term loan commitments (an “Incremental Term Loan Commitment” and, together with any Revolving Commitment Increases, the “Incremental Commitments”) to make incremental term loans (an “Incremental Term Loan”); provided that (A) the total aggregate principal amount for all such Revolving Commitment Increases and Incremental Term Loans made after the Effective Date shall not exceed an amount equal to $350,000,000; (B) if the Borrower is requesting a Revolving Commitment Increase, the aggregate amount of the Revolving Commitments shall not have been previously reduced, nor shall the Borrower have given notice of any such reduction under Section 2.08(b) which has not been revoked by the time of the Borrower’s notice under this Section 2.19; (C) the aggregate amount of the Incremental Commitments shall not previously have been increased pursuant to this Section 2.19 more than three times; and (D) any such request for an Incremental Commitment shall be in a minimum amount of $5,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (A).

Appears in 2 contracts

Samples: Credit Facility Agreement (Lennox International Inc), Credit Facility Agreement (Lennox International Inc)

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Request for Incremental Commitments. By written notice sent to the Administrative Agent (which the Administrative Agent shall promptly distribute to the Lenders), the Borrower may request (i) one or more increases in the Revolving Commitments (a "Revolving Commitment Increase") and/or (ii) one or more incremental term loan commitments (an "Incremental Term Loan Commitment" and, together with any Revolving Commitment Increases, the "Incremental Commitments") to make incremental term loans (an "Incremental Term Loan"); provided that (A) the total aggregate principal amount for all such Revolving Commitment Increases and Incremental Term Loans made after the Third Amendment Effective Date shall not exceed an amount equal to $350,000,0000; (B) if the Borrower is requesting a Revolving Commitment Increase, the aggregate amount of the Revolving Commitments shall not have been previously reduced, nor shall the Borrower have given notice of any such reduction under Section 2.08(b) which has not been revoked by the time of the Borrower’s 's notice under this Section 2.19; (C) the aggregate amount of the Incremental Commitments shall not previously have been increased pursuant to this Section 2.19 more than three times; and (D) any such request for an Incremental Commitment shall be in a minimum amount of $5,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (A).

Appears in 1 contract

Samples: Credit Facility Agreement (Lennox International Inc)

Request for Incremental Commitments. By written notice sent to the Administrative Agent (which the Administrative Agent shall promptly distribute to the Lenders), the Borrower may request (i) one or more increases in the Revolving Commitments (a “Revolving Commitment Increase”) and/or (ii) one or more incremental term loan commitments (an “Incremental Term Loan Commitment” and, together with any Revolving Commitment Increases, the “Incremental Commitments”) to make incremental term loans (an “Incremental Term Loan”); provided that (A) the total aggregate principal amount for all such Revolving Commitment Increases and Incremental Term Loans made after the Effective Date shall not exceed an amount equal to $350,000,000; (B) if the Borrower is requesting a Revolving Commitment Increase, the aggregate amount of the Revolving Commitments shall not have been previously reduced, nor shall the Borrower have given notice of any such reduction under Section 2.08(b) which has not been revoked by the time of the Borrower’s notice under this Section 2.19; (C) the aggregate amount of the Incremental Commitments shall not previously FIFTH AMENDED AND RESTATED CREDIT FACILITY AGREEMENT, Page 47 have been increased pursuant to this Section 2.19 more than three times; and (D) any such request for an Incremental Commitment shall be in a minimum amount of $5,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (A).

Appears in 1 contract

Samples: Credit Facility Agreement (Lennox International Inc)

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Request for Incremental Commitments. By At any time after the earlier to occur of the (a) Delayed Draw Funding Deadline and the Delayed Draw Funding Date and from time to time, the Borrower may by written notice sent to the Administrative Agent (which the Administrative Agent who shall promptly distribute to notify the Lenders), the Borrower may ) request (i) one or more increases in the Revolving Credit Commitments (a “Revolving Commitment Increase”) and/or or (ii) one or more incremental term loan commitments (an “Incremental Term Loan Commitment” and, together with any Revolving Commitment Increases, the “Incremental Commitments”) to make incremental term loans (an “Incremental Term Loan”); provided that (A) the total aggregate principal amount for all such Revolving Commitment Increases Incremental Commitments and Incremental Term Loans made after the SecondFirst Amendment Effective Date shall not exceed an amount equal to (1) $350,000,000; 150,000,000 plus (B2) if such amount as would not cause the Borrower is requesting Consolidated Net Leverage Ratio to exceed 3.25 to 1.00 (calculated on a Revolving Commitment Increase, Pro Forma Basis based on the aggregate amount of financial statements for the Revolving Commitments shall not most recent fiscal quarter end for which financial statements have been previously reduced, nor shall provided after giving effect the Borrower have given notice incurrence of any such reduction under Section 2.08(b) which has not been revoked by then requested Incremental Commitment and the time use of proceeds thereof, but without netting the Borrower’s notice under this Section 2.19; (C) the aggregate amount of the Incremental Commitments shall not previously have been increased pursuant to this Section 2.19 more than three timesproceeds thereof); and (DB) any such request for an Incremental Commitment shall be in a minimum amount of $5,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (A).

Appears in 1 contract

Samples: Credit Agreement and Incremental (Realpage Inc)

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