Common use of Requests for Incremental Facilities Clause in Contracts

Requests for Incremental Facilities. The Borrower may, at any time, request that the existing Lenders or other lending entities (provided that in the case of other lending entities, such lending entity shall meet the eligibility requirements for an assignment to such lending entity under Section 9.04(b) as if it were taking an assignment of applicable Commitments or Loans) provide an increase to the Revolving Credit Commitments hereunder (which may include increases to the Maximum L/C Exposure of any Lender, if agreed by such Lender) (any such increase, an “Incremental Revolving Facility”) and/or add one or more term loan facilities hereunder (each, an “Incremental Term Facility”; any term loans thereunder, “Incremental Term Loans”; the Incremental Term Facilities, together with any Incremental Revolving Facility, the “Incremental Facilities”), (x) by having an existing Lender (each an “Increasing Lender”) agree to increase its then existing Revolving Credit Commitment or to provide Incremental Term Loans and/or (y) by adding as a new Lender hereunder (each an “Assuming Lender”) any Person which shall agree to provide a Revolving Credit Commitment or Incremental Term Loans hereunder, in each case with the consent of the Administrative Agent and, in the case of any Incremental Revolving Facility, each Issuing Bank. For avoidance of doubt, no existing Lender shall be required to agree to provide or participate in any Incremental Facility. Any request for an Incremental Facility shall be made by notice to the Administrative Agent given by the Borrower specifying the amount and type of the relevant Incremental Facility, the existing or new Lender or Lenders providing such Incremental Facility and the date on which such increase is to be effective (the “Incremental Date”), which shall be a Business Day at least three Business Days after delivery of such notice (or such shorter period of time as the Administrative Agent may agree); provided that:

Appears in 4 contracts

Samples: Credit Agreement (SPRINT Corp), Credit Agreement (SPRINT Corp), Credit Agreement (SPRINT Corp)

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Requests for Incremental Facilities. The Borrower may, at any time, request that the existing Lenders or other lending entities (provided that in the case of other lending entities, such lending entity shall meet the eligibility requirements for an assignment to such lending entity under Section 9.04(b) as if it were taking an assignment of applicable Commitments or Loans) provide an increase to the Revolving Credit Commitments additional revolving commitments hereunder (which may include increases to the Maximum L/C Exposure of any Lender, if agreed by such Lender) (any such increase, an “Incremental Revolving Facility”) and/or add one or more term loan facilities hereunder (each, an “Incremental Term Facility”; any term loans thereunder, “Incremental Term Loans”; the Incremental Term Facilities, together with any Incremental Revolving Facility, the “Incremental Facilities”), (x) by having an existing Lender (each an “Increasing Lender”) agree to increase its then existing Revolving Credit Commitment or to provide Incremental Term Loans and/or (y) by adding as a new Lender hereunder (each an “Assuming Lender”) any Person which shall agree to provide a Revolving Credit Commitment or Incremental Term Loans hereunder, in each case with the consent of the Administrative Agent and, in the case of any Incremental Revolving Facility, each Issuing Bank. For avoidance of doubt, no existing Lender shall be required to agree to provide or participate in any Incremental Facility. Any request for an Incremental Facility shall be made by notice to the Administrative Agent given by the Borrower specifying the amount and type of the relevant Incremental Facility, the existing or new Lender or Lenders providing such Incremental Facility and the date on which such increase is to be effective (the “Incremental Date”), which shall be a Business Day at least three Business Days after delivery of such notice (or such shorter period of time as the Administrative Agent may agree)notice; provided that:

Appears in 2 contracts

Samples: Credit Agreement (Sprint Nextel Corp), Credit Agreement (Sprint Nextel Corp)

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