Common use of Request for Incremental Facility Clause in Contracts

Request for Incremental Facility. Provided (i) there exists no Default both before and after giving effect to any such incurrence of an increase or additional term loan or revolver loan, (ii) such increase and/or incurrence of an additional term loan or revolver loan is permitted pursuant to the terms of the Indenture and the Senior Subordinated Notes Documents and (iii) the Arrangers and the Agents consent thereto, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time, request (x) an increase in the Aggregate Commitments, (y) the addition of an incremental term loan (an “Incremental Term Loan”), or (z) the addition of an incremental revolver loan (an “Incremental Revolver Loan”) (an Incremental Revolver Loan or an Incremental Term Loan, or both, are herein collectively referred to as an “Incremental Facility”) by an amount (for all such requests in the aggregate) not exceeding $500,000,000 (such amount being replenished to $500,000,000 as the maximum amount after giving effect to the $100,000,000 facility increase as described in the Second Amendment); provided that any such request for an increase in the Aggregate Commitments or any Incremental Facility shall be in a minimum amount of $50,000,000. At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders).

Appears in 1 contract

Samples: Credit Agreement (Entercom Communications Corp)

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Request for Incremental Facility. Provided (i) there exists no Default both before and after giving effect to any such incurrence of an increase or additional term loan or revolver loan, (ii) such increase and/or incurrence of an additional term loan or revolver loan is permitted pursuant to the terms of the Indenture and the Senior Subordinated Notes Documents and (iii) the Arrangers and the Agents consent thereto, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time, request (x) an increase in the Aggregate Commitments, (y) the addition of an incremental term loan (an “Incremental Term Loan”), or (z) the addition of an incremental revolver loan (an “Incremental Revolver Loan”) (an Incremental Revolver Loan or an Incremental Term Loan, or both, are herein collectively referred to as an “Incremental Facility”) by an amount (for all such requests in the aggregate) not exceeding $500,000,000 (such amount being replenished to $500,000,000 as the maximum amount after giving effect to the $100,000,000 facility increase as described in the Second Amendment)500,000,000; provided that any such request for an increase in the Aggregate Commitments or any Incremental Facility shall be in a minimum amount of $50,000,000. At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders).

Appears in 1 contract

Samples: Credit Agreement (Entercom Communications Corp)

Request for Incremental Facility. Provided (i) there exists no Default both before and after giving effect to any such incurrence of an increase or additional term loan or revolver loanIncremental Facility (including compliance by the Company with the covenants set forth in Sections 7.10, 7.11 and 7.12 determined on a pro forma basis), and (ii) such increase and/or incurrence of an additional term loan or revolver loan is permitted pursuant to the terms of the Indenture and the Senior Subordinated Notes Documents and (iii) the Arrangers and the Agents consent thereto, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower Company may from time to time, request (x) an increase in the Aggregate Commitments, Revolving Credit Facility (an “Incremental Revolver Increase”) or (y) the addition of an incremental a term loan (an a Incremental Term Loan”), or (z) the addition of an incremental revolver loan (an “Incremental Revolver Loan”) (an any Incremental Revolver Loan or an Incremental Increase and/or Term Loan, or both, are herein collectively referred to as an “Incremental Facility”) by an amount (for all such requests in the aggregate) not exceeding $500,000,000 (such amount being replenished to $500,000,000 as the maximum amount after giving effect to the $100,000,000 facility increase as described in the Second Amendment)150,000,000; provided that (A) any such request for an increase in the Aggregate Commitments or any Incremental Facility shall be in a minimum amount of $50,000,0005,000,000, and (B) no such increase shall increase the Letter of Credit Sublimit, the Domestic Swing Line Sublimit, the Foreign Swing Line Sublimit or the Foreign Borrower Sublimit. At the time of sending such notice, the Borrower Company (in consultation with the Administrative Agent) shall specify the time period within which each Lender or prospective Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the LendersLenders or such other time period as agreed to by the Borrower and any Lender providing an Incremental Revolver Increase or a Term Loan).

Appears in 1 contract

Samples: Credit Agreement (Commercial Metals Co)

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Request for Incremental Facility. Provided (i) there exists no Default both before and after giving effect to any such incurrence of an increase or additional term loan or revolver loan, (ii) such increase and/or incurrence of an additional term loan or revolver loan is permitted pursuant to the terms of the Indenture and the Senior Subordinated Notes Documents and (iii) the Arrangers and the Agents consent thereto, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time, request (x) an increase in the Aggregate Commitments, (y) the addition of an incremental term loan (an “Incremental Term Loan”), or (z) the addition of an incremental revolver loan (an “Incremental Revolver Loan”) (an Incremental Revolver Loan or an Loans and/or Incremental Term LoanLoans, or both, are herein collectively referred to as an “Incremental Facility”) by an amount (for all such requests in the aggregate) not exceeding $500,000,000 (such amount being replenished to $500,000,000 as the maximum amount after giving effect to the $100,000,000 facility increase as described in the Second Amendment)500,000,000; provided that any such request for an increase in the Aggregate Commitments or any Incremental Facility shall be in a minimum amount of $50,000,000. At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders).

Appears in 1 contract

Samples: Credit Agreement (Entercom Communications Corp)

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