Common use of Subsections Clause in Contracts

Subsections. 3.1 to 2.3.6 of the Credit Agreement are amended and replaced by the following subsections 2. 3.1 to 2.3.7, to take into account the possible creation of a New Facility: 2.3.1 The aggregate amount of any such New Commitments and available commitments under any New Facility shall not exceed an amount equal to $75,000,000 minus (a) the aggregate undrawn Tranche A Credit, (b) the principal amount under the Term Loan (as each such term in clause (a) above and in this clause (b) is defined in Schedule “P”), and (c) the amount of any previous New Commitments and New Facility (in each case, drawn and undrawn) that remain in effect. The notice shall specify the date (the “Increased Amount Date”) on which the Borrower proposes that the New Commitments or New Facility shall be effective, which shall be a date not less than 15 Business Days after the date on which such notice is delivered to the Agent. The notice in respect of New Commitments shall provide that the Borrower is first offering the opportunity to provide each New Commitment to the then-existing Lenders, who may accept same on a pro rata basis or as they may otherwise agree. Any Lender approached to provide all or a portion of the New Commitments may elect or decline, in its sole discretion, to provide a New Commitment. 2.3.2 The existing Lenders shall advise the Agent within 10 Business Days following receipt of the Borrowers’ request for New Commitments as to the extent, if any, to which they wish to provide the New Commitments, and the Agent shall so advise the Borrower. The Borrower shall then identify each Person that is an Eligible Assignee (each, a “New Lender”) to whom the Borrower proposes any portion of such New Commitments not accepted by an existing Lender be allocated and the amounts of such allocations, within 2 Business Days from receipt of the Agent’s notice referred to in the preceding sentence. 2.3.3 The New Commitments and any New Facility shall become effective as of the Increased Amount Date, provided that (a) no Default or Event of Default shall exist on the Increased Amount Date before or after giving effect to such New Commitments or New Facility; (b) the Borrower shall be in pro forma compliance with each of the covenants set forth in Section 12.11 as of the last day of the most recently ended fiscal quarter after giving effect to such New Commitments or New Facility; (c) the New Commitments shall be effected pursuant to one or more Joinder Agreements executed and delivered by the Borrower, the Guarantors, the New Lenders and the Agent, each of which shall be recorded in the Register (as defined in Section 16.3), and each New Lender shall be subject to the requirements set forth in Section 7.3; (d) the New Facility shall be effected pursuant to one or more amendments referred to in subsection 2.3.7, (e) the Borrower shall make any payments required pursuant to Section 7.4 in connection with the New Commitments; and (f) the Borrower shall deliver or cause to be delivered any legal opinions or other documents reasonably requested by the Agent in connection with any such transaction. 2.3.4 On or before the Increased Amount Date (with effect as of the Increased Amount Date), subject to the satisfaction of the foregoing terms and conditions, (a) with respect to all New Commitments, each of the Lenders shall assign to each of the New Lenders, who shall purchase same, at the principal amount thereof (together with accrued interest), such interests in the Loan Obligations under the Revolving Facility outstanding on the Increased Amount Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Loan Obligations under the relevant Facility will be held by existing Lenders and New Lenders ratably in accordance with their Commitments after giving effect to the addition of such New Commitments to the Commitments, (b) each New Commitment and commitment under a New Facility shall be deemed for all purposes a Commitment and each Advance made thereunder (a “New Advance”) shall be deemed, for all purposes, a Loan Obligation under the Facilities, (c) each New Lender shall become a Lender with respect to the New Commitment and all matters relating thereto, and (d) each Lender under a New Facility shall become a Lender with respect to the New Facility and all matters relating thereto. 2.3.5 The Agent shall notify the Lenders, promptly upon receipt, of the Borrower’s notice of the Increased Amount Date, the New Commitments and New Lenders in respect thereof, and any New Facility, as well as the effect of same as contemplated by the preceding paragraph. 2.3.6 The terms and provisions of the New Commitments under the Revolving Facility and New Advances thereunder shall be identical to the terms and provisions of the Loan Obligations, except in respect of any upfront fees or other similar fees to be paid in respect of New Commitments under the Revolving Facility. The terms and provisions of the New Commitments and New Advances not intended to simply be increases in the amount of the Revolving Facility shall be identical to the terms and provisions of the Loan Obligations, except as they relate to pricing, term, and amortization and repayment. For greater certainty, in respect of any increase contemplated in the first two sentences above, no additional Fees shall be payable in respect of any then-existing Commitments. Each Joinder Agreement may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Agent, to give effect to the provisions of this Section 2.3. 2.3.7 With respect to any New Facility and notwithstanding any other provision of this Agreement to the contrary, only the Borrower, the applicable lenders and agents under such New Facility and the Agent shall enter into an amendment to this Agreement to reflect all changes necessary or appropriate, in the opinion of the Agent, as a result of such New Facility, without the need to obtain the signatures of each of the existing Lenders to such amendment.”

Appears in 1 contract

Samples: Credit Agreement (Videotron Ltee)

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Subsections. 3.1 to 2.3.6 (a) and (b) of Section 3.01 of the Credit Agreement are amended deleted and replaced by with the following subsections 2. 3.1 to 2.3.7, to take into account the possible creation of a New Facilityfollowing: 2.3.1 The aggregate amount of any such New Commitments and available commitments under any New Facility shall not exceed an amount equal to $75,000,000 minus (a) The Company hereby promises to pay to the aggregate undrawn Tranche A CreditAdministrative Agent for account of each Bank providing any such Loan (i) the outstanding principal amount of each of such Bank's Additional Commitment Loans, and each Additional Commitment Loan shall mature, upon the expiration of the Additional Commitment Period, (bii) the outstanding principal amount under the Term Loan (as of each of such term in clause (a) above and in this clause (b) is defined in Schedule “P”)Bank's Increased Commitment Loans, and (c) each Increased Commitment Loan shall mature, upon the amount of any previous New Commitments and New Facility (in each case, drawn and undrawn) that remain in effect. The notice shall specify the date (the “Increased Amount Date”) on which the Borrower proposes that the New Commitments or New Facility shall be effective, which shall be a date not less than 15 Business Days after the date on which such notice is delivered to the Agent. The notice in respect of New Commitments shall provide that the Borrower is first offering the opportunity to provide each New Commitment to the then-existing Lenders, who may accept same on a pro rata basis or as they may otherwise agree. Any Lender approached to provide all or a portion of the New Commitments may elect or decline, in its sole discretion, to provide a New Commitment. 2.3.2 The existing Lenders shall advise the Agent within 10 Business Days following receipt of the Borrowers’ request for New Commitments as to the extent, if any, to which they wish to provide the New Commitments, and the Agent shall so advise the Borrower. The Borrower shall then identify each Person that is an Eligible Assignee (each, a “New Lender”) to whom the Borrower proposes any portion of such New Commitments not accepted by an existing Lender be allocated and the amounts of such allocations, within 2 Business Days from receipt of the Agent’s notice referred to in the preceding sentence. 2.3.3 The New Commitments and any New Facility shall become effective as expiration of the Increased Amount DateCommitment Period, provided that (aiii) no Default or Event the outstanding principal amount of Default each of such Bank's Revolving Credit Loans, and each Revolving Credit Loan shall exist mature, on the Increased Amount Commitment Termination Date before or after giving effect to such New Commitments or New Facility; and (biv) the Borrower outstanding principal amount of each Competitive Loan, and each Competitive Loan shall be in pro forma compliance with each of the covenants set forth in Section 12.11 as of mature, on the last day of the most recently ended fiscal quarter after giving effect Interest Period applicable to such New Commitments or New Facility; (c) the New Commitments shall be effected pursuant to one or more Joinder Agreements executed and delivered by the Borrower, the Guarantors, the New Lenders and the Agent, each of which shall be recorded in the Register (as defined in Section 16.3), and each New Lender shall be subject to the requirements set forth in Section 7.3; (d) the New Facility shall be effected pursuant to one or more amendments referred to in subsection 2.3.7, (e) the Borrower shall make any payments required pursuant to Section 7.4 in connection with the New Commitments; and (f) the Borrower shall deliver or cause to be delivered any legal opinions or other documents reasonably requested by the Agent in connection with any such transactionLoan. 2.3.4 On or before the Increased Amount Date (with effect as of the Increased Amount Date), subject to the satisfaction of the foregoing terms and conditions, (a) with respect to all New Commitments, each of the Lenders shall assign to each of the New Lenders, who shall purchase same, at the principal amount thereof (together with accrued interest), such interests in the Loan Obligations under the Revolving Facility outstanding on the Increased Amount Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Loan Obligations under the relevant Facility will be held by existing Lenders and New Lenders ratably in accordance with their Commitments after giving effect to the addition of such New Commitments to the Commitments, (b) The Company hereby promises to pay to the Administrative Agent for account of the Banks the aggregate principal amount of Term Loans in four equal consecutive quarterly installments commencing on the date three months after the date of the making of such Term Loans and thereafter on the quarterly anniversary dates of the date of the making of such Term Loans (each New Commitment and commitment under a New Facility "PRINCIPAL PAYMENT DATE"); provided that, if the date of the making of such Term Loans is the last Business Day of a calendar month (or on any day for which there is no numerically corresponding date in the appropriate subsequent calendar month) the payment date shall be deemed for all purposes the last Business Day of the appropriate subsequent calendar month; and provided that, if any Principal Payment Date would fall on a Commitment and each Advance made thereunder (day other than a “New Advance”) Business Day, such Principal Payment Date shall be deemedthe next succeeding Business Day (or, for all purposes, a Loan Obligation under the Facilities, (c) each New Lender shall become a Lender with respect to the New Commitment and all matters relating thereto, and (d) each Lender under a New Facility shall become a Lender with respect to the New Facility and all matters relating thereto. 2.3.5 The Agent shall notify the Lenders, promptly upon receipt, of the Borrower’s notice of the Increased Amount Date, the New Commitments and New Lenders in respect thereof, and any New Facility, as well as the effect of same as contemplated by the preceding paragraph. 2.3.6 The terms and provisions of the New Commitments under the Revolving Facility and New Advances thereunder shall be identical to the terms and provisions of the Loan Obligations, except in respect of any upfront fees or other similar fees to be paid in respect of New Commitments under the Revolving Facility. The terms and provisions of the New Commitments and New Advances not intended to simply be increases if such next succeeding Business Day falls in the amount of next succeeding calendar month, on the Revolving Facility shall be identical to the terms and provisions of the Loan Obligations, except as they relate to pricing, term, and amortization and repayment. For greater certainty, in respect of any increase contemplated in the first two sentences above, no additional Fees shall be payable in respect of any then-existing Commitments. Each Joinder Agreement may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Agent, to give effect to the provisions of this Section 2.3next preceding Business Day). 2.3.7 With respect to any New Facility and notwithstanding any other provision of this Agreement to the contrary, only the Borrower, the applicable lenders and agents under such New Facility and the Agent shall enter into an amendment to this Agreement to reflect all changes necessary or appropriate, in the opinion of the Agent, as a result of such New Facility, without the need to obtain the signatures of each of the existing Lenders to such amendment.”"

Appears in 1 contract

Samples: Credit Agreement (Enhance Financial Services Group Inc)

Subsections. 3.1 to 2.3.6 (a) and (b) of Section 2.2 of the Credit Agreement are amended in their entirety to read as follows: (a) The Borrower may borrow (i) under the Aggregate Tranche A Commitments on any Business Day during the Tranche A Commitment Period, or (ii) the Additional Tranche C Loans on the Merger Effective Date, provided that the Borrower shall notify the Administrative Agent (by telephone or fax) no later than 1:00 p.m. (A) three Business Days prior to the requested Credit Extension Date in the case of Eurodollar Advances and replaced (B) one Business Day prior to the requested Credit Extension Date in the case of ABR Advances, in each case specifying (1) if requesting Tranche A Loans, the aggregate principle amount to be borrowed under the Aggregate Tranche A Commitments, (2) the requested Credit Extension Date, (3) whether such borrowing is to consist of one or more Eurodollar Advances, ABR Advances, or a combination thereof and (4) if the borrowing is to consist of one or more Eurodollar Advances, the length of the Interest Period or Periods for each such Eurodollar Advance (subject to the provisions of the definition of Interest Period). Each such notice shall be irrevocable and confirmed immediately by delivery to the following subsections 2. 3.1 to 2.3.7, to take into account the possible creation Administrative Agent of a New Facility: 2.3.1 The Credit Request. Each ABR Advance shall be in an aggregate amount of any such New Commitments and available commitments under any New Facility shall not exceed an principal amount equal to $75,000,000 minus (a) 100,000 or such amount plus a whole multiple of $100,000 in excess thereof, or, if less, the aggregate undrawn unused amount of the Aggregate Tranche A CreditCommitments, and each Eurodollar Advance shall be in an aggregate principal amount equal to $500,000 or such amount plus a whole multiple of $100,000 in excess thereof. If, with respect to any borrowing, the Borrower shall fail to give due notice as provided in this Section, the Borrower shall be deemed to have selected an ABR Advance for such borrowing. (b) the principal amount under the Term Loan (as each such term in clause (a) above and in this clause (b) is defined in Schedule “P”), and (c) the amount Upon receipt of any previous New Commitments and New Facility (in each case, drawn and undrawn) that remain in effect. The notice shall specify the date (the “Increased Amount Date”) on which the Borrower proposes that the New Commitments or New Facility shall be effective, which shall be a date not less than 15 Business Days after the date on which such notice of borrowing from the Borrower, the Administrative Agent shall promptly notify each Lender which is delivered to the Agent. The notice in respect of New Commitments shall provide that the Borrower is first offering the opportunity to provide each New Commitment to the then-existing Lenders, who may accept same on a pro rata basis or as they may otherwise agree. Any Lender approached to provide all or a portion member of the New Commitments may elect or decline, in Class from which a Loan has been requested of such notice of borrowing. Subject to its sole discretion, to provide a New Commitment. 2.3.2 The existing Lenders shall advise the Agent within 10 Business Days following receipt of the Borrowers’ request for New Commitments as to the extent, if any, to which they wish to provide the New Commitments, and the Agent shall so advise the Borrower. The Borrower shall then identify each Person that is an Eligible Assignee (each, a “New Lender”) to whom the Borrower proposes any portion of such New Commitments not accepted by an existing Lender be allocated and the amounts of such allocations, within 2 Business Days from receipt of the Agent’s notice referred to in the preceding sentence. 2.3.3 The New Commitments and any New Facility shall become effective , each such Lender will make the amount of its (i) Tranche A Percentage of each such borrowing of Tranche A Loans, or (ii) its Additional Tranche C Loan, as the case may be, available to the Administrative Agent for the account of the Increased Amount DateBorrower at the Payment Office not later than 2:30 p.m., provided that (a) no Default or Event of Default shall exist on the Increased Amount relevant Credit Extension Date before or after giving effect to such New Commitments or New Facility; (b) the Borrower shall be in pro forma compliance with each of the covenants set forth in Section 12.11 as of the last day of the most recently ended fiscal quarter after giving effect to such New Commitments or New Facility; (c) the New Commitments shall be effected pursuant to one or more Joinder Agreements executed and delivered requested by the Borrower, the Guarantors, the New Lenders and the Agent, each of which shall be recorded in the Register (as defined in Section 16.3), and each New Lender shall be subject funds immediately available to the requirements set forth in Section 7.3; (d) Administrative Agent at such office. The amounts so made available to the New Facility shall be effected pursuant to one or more amendments referred to in subsection 2.3.7, (e) the Borrower shall make any payments required pursuant to Section 7.4 in connection with the New Commitments; and (f) the Borrower shall deliver or cause to be delivered any legal opinions or other documents reasonably requested by the Administrative Agent in connection with any on such transaction. 2.3.4 On or before the Increased Amount Credit Extension Date (with effect as of the Increased Amount Date)will then, subject to the satisfaction of the foregoing terms and conditionsconditions of this Agreement as determined by the Administrative Agent, (a) with respect be made available on such date to all New Commitments, each the Borrower by the Administrative agent at the Payment Office by crediting the account of the Lenders Borrower on the books of such office with the aggregate of said amounts received by the Administrative Agent. Unless the Administrative Agent shall assign to each of the New Lenders, who shall purchase same, at the principal amount thereof have received prior notice from a Lender (together with accrued interest)by telephone or otherwise, such interests in notice to be confirmed by telecopy or other writing) that it will not make available to the Loan Obligations under Administrative Agent its Tranche A Percentage of any Loans requested by the Revolving Facility outstanding Borrower or its Additional Tranche C Loan, as the case may be, the Administrative Agent may assume that such Lender has made such share available to the Administrative Agent on the Increased Amount requested Credit Extension Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Loan Obligations under the relevant Facility will be held by existing Lenders and New Lenders ratably in accordance with their Commitments after giving effect this Section, provided that such Lender received notice of the proposed borrowing from the Administrative Agent, and the Administrative Agent may, in reliance upon such assumption, make available to the addition Borrower on such Credit Extension Date a corresponding amount. If and to the extent such Lender shall not have so made such share available to the Administrative Agent, such Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount (to the extent not previously paid by the other), together with interest thereon for each day from the date such amount is made available to the Borrower until the date such amount is paid to the Administrative Agent, at a rate per annum equal to, in the case of the Borrower the applicable interest rate set forth in Section 3.1, and, in the case of such New Commitments Lender, the Federal Funds Rate in effect on such date (as determined by the Administrative Agent). Such payment by the Borrower, however, shall be without prejudice to its rights against such Lender. If such Lender shall pay to the CommitmentsAdministrative Agent such corresponding amount, such amount so paid (bexcluding, however, any interest payable on such amount) each New Commitment and commitment under a New Facility shall constitute such Lender's Loan as part of such Loans for purposes of this Agreement, which Loan shall be deemed for all purposes a Commitment and each Advance to have been made thereunder (a “New Advance”) shall be deemed, for all purposes, a Loan Obligation under by such Lender on the Facilities, (c) each New Lender shall become a Lender with respect to the New Commitment and all matters relating thereto, and (d) each Lender under a New Facility shall become a Lender with respect to the New Facility and all matters relating thereto. 2.3.5 The Agent shall notify the Lenders, promptly upon receipt, of the Borrower’s notice of the Increased Amount Date, the New Commitments and New Lenders in respect thereof, and any New Facility, as well as the effect of same as contemplated by the preceding paragraph. 2.3.6 The terms and provisions of the New Commitments under the Revolving Facility and New Advances thereunder shall be identical to the terms and provisions of the Loan Obligations, except in respect of any upfront fees or other similar fees to be paid in respect of New Commitments under the Revolving Facility. The terms and provisions of the New Commitments and New Advances not intended to simply be increases in the amount of the Revolving Facility shall be identical to the terms and provisions of the Loan Obligations, except as they relate to pricing, term, and amortization and repayment. For greater certainty, in respect of any increase contemplated in the first two sentences above, no additional Fees shall be payable in respect of any then-existing Commitments. Each Joinder Agreement may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Agent, to give effect to the provisions of this Section 2.3. 2.3.7 With respect to any New Facility and notwithstanding any other provision of this Agreement to the contrary, only the Borrower, the Credit Extension Date applicable lenders and agents under such New Facility and the Agent shall enter into an amendment to this Agreement to reflect all changes necessary or appropriate, in the opinion of the Agent, as a result of such New Facility, without the need to obtain the signatures of each of the existing Lenders to such amendmentLoans.

Appears in 1 contract

Samples: Credit Agreement (Arch Communications Group Inc /De/)

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Subsections. 3.1 to 2.3.6 4(a) (ii) and (iii) of the Credit Agreement Lease are amended hereby deleted and replaced by the following subsections 2. 3.1 to 2.3.7substituted in their place, to take into account the possible creation of a New Facilitywith subsection 4(a)(i) repeated without change for convenience: 2.3.1 The aggregate amount of any such New Commitments and available commitments under any New Facility shall not exceed an amount equal to $75,000,000 minus (a) As payments on account of rent for the aggregate undrawn Tranche A Creditproperties leased hereunder, and having made all required payments of rent, supplemental rent and other charges owed to Lessor through April 30, 1998, Tenant hereby unconditionally promises to pay: (bi) to the Trustee, for the account of the Lessor, payments hereunder sufficient at all times to pay in full the principal amount under the Term Loan (as each such term in clause (a) above and in this clause (b) is defined in Schedule “P”)of, and (c) the amount of any previous New Commitments and New Facility (in each case, drawn and undrawn) that remain in effect. The notice shall specify the date (the “Increased Amount Date”) on which the Borrower proposes that the New Commitments or New Facility shall be effective, which shall be a date not less than 15 Business Days after the date on which such notice is delivered to the Agent. The notice in respect of New Commitments shall provide that the Borrower is first offering the opportunity to provide each New Commitment to the then-existing Lenders, who may accept same on a pro rata basis or as they may otherwise agree. Any Lender approached to provide all or a portion of the New Commitments may elect or decline, in its sole discretion, to provide a New Commitment. 2.3.2 The existing Lenders shall advise the Agent within 10 Business Days following receipt of the Borrowers’ request for New Commitments as to the extentpremium, if any, to which they wish to provide and interest on the New CommitmentsBonds, and all expenses of the Agent Trustee under the Indenture, and any and all other payments required to be made by Lessor under the Agreement and the Indenture, when and as the same become due and payable (whether at maturity or by acceleration, prepayment, call for redemption, or otherwise); all such payments shall so advise be made in immediately available funds, at the Borrower. The Borrower principal corporate trust office of the Trustee which on the date hereof is located at 000 Xxxxxxxxx Xxxxxx, Xxxxxxxxxxxx, Xxxxxxx 00000, or such other place as Lessor or the Trustee shall then identify each Person that is an Eligible Assignee designate at any time in writing to Tenant; (each, a “New Lender”ii) to whom the Borrower proposes any portion of such New Commitments not accepted by an existing Lender be allocated and Lessor, directly commencing on May 1, 1998, as supplemental rent, the amounts of such allocationsamount set forth in SUBSECTION 4(a)(iii) below, within 2 Business Days provided, however, if the Tenant has received notice from receipt of the Agent’s notice referred to in the preceding sentence. 2.3.3 The New Commitments and any New Facility shall become effective as of the Increased Amount Date, provided Trustee that (a) no Default a default or Event of Default under the Agreement has occurred and is continuing, all supplemental rent payments shall exist be paid to the Trustee for the account of the Lessor. All payments of supplemental rent shall be made in equal monthly installments in advance on the Increased Amount Date before or after giving effect to such New Commitments or New Facility; first day of each and every remaining calendar month during the Term; (biii) the Borrower supplemental rent for the lease year commencing on May 1, 1998 shall be $461,239.00 (the "Escalation Base"). The supplemental rent for the lease year commencing on May 1, 1999 shall be the Escalation Base increased by the percentage increase, if any, in pro forma compliance with the CPI (hereinafter defined) for the last reported month available to the public on April 1, 1999 as compared to the CPI for the same month in 1998 (the "Base CPI"). The supplemental rent for each lease year after the lease year commencing on May 1, 1999 shall be the Escalation Base increased by the percentage increase, if any, in the last reported month available to the public on April 1 of the covenants set forth in Section 12.11 next preceding lease year as of the last day of the most recently ended fiscal quarter after giving effect to such New Commitments or New Facility; (c) the New Commitments shall be effected pursuant to one or more Joinder Agreements executed and delivered by the Borrower, the Guarantors, the New Lenders and the Agent, each of which shall be recorded in the Register (as defined in Section 16.3), and each New Lender shall be subject compared to the requirements set forth in Section 7.3; (d) the New Facility shall be effected pursuant to one or more amendments referred to in subsection 2.3.7, (e) the Borrower shall make any payments required pursuant to Section 7.4 in connection with the New Commitments; and (f) the Borrower shall deliver or cause to be delivered any legal opinions or other documents reasonably requested by the Agent in connection with any such transaction. 2.3.4 Base CPI. On or before April 15, 1999 and on or before each April 15 thereafter during the Increased Amount Date (Term, Lessor shall provide Tenant with effect as of the Increased Amount Date), subject to the satisfaction of the foregoing terms and conditions, (a) with respect to all New Commitments, each of the Lenders shall assign to each of the New Lenders, who shall purchase same, at the principal amount thereof (together with accrued interest), such interests in the Loan Obligations under the Revolving Facility outstanding on the Increased Amount Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Loan Obligations under the relevant Facility will be held by existing Lenders and New Lenders ratably in accordance with their Commitments after giving effect to the addition of such New Commitments to the Commitments, (b) each New Commitment and commitment under a New Facility shall be deemed for all purposes a Commitment and each Advance made thereunder (a “New Advance”) shall be deemed, for all purposes, a Loan Obligation under the Facilities, (c) each New Lender shall become a Lender with respect to the New Commitment and all matters relating thereto, and (d) each Lender under a New Facility shall become a Lender with respect to the New Facility and all matters relating thereto. 2.3.5 The Agent shall notify the Lenders, promptly upon receipt, of the Borrower’s written notice of the Increased Amount Datesupplemental rent for the next succeeding lease year and the calculation for determining such supplemental rent. Notwithstanding the result of any calculation of supplemental rent hereunder, the New Commitments and New Lenders in respect thereof, and no event shall supplemental rent for any New Facility, as well as the effect of same as contemplated by lease year be less than supplemental for the preceding paragraphlease year. 2.3.6 The terms and provisions of the New Commitments under the Revolving Facility and New Advances thereunder shall be identical to the terms and provisions of the Loan Obligations, except in respect of any upfront fees or other similar fees to be paid in respect of New Commitments under the Revolving Facility. The terms and provisions of the New Commitments and New Advances not intended to simply be increases in the amount of the Revolving Facility shall be identical to the terms and provisions of the Loan Obligations, except as they relate to pricing, term, and amortization and repayment. For greater certainty, in respect of any increase contemplated in the first two sentences above, no additional Fees shall be payable in respect of any then-existing Commitments. Each Joinder Agreement may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Agent, to give effect to the provisions of this Section 2.3. 2.3.7 With respect to any New Facility and notwithstanding any other provision of this Agreement to the contrary, only the Borrower, the applicable lenders and agents under such New Facility and the Agent shall enter into an amendment to this Agreement to reflect all changes necessary or appropriate, in the opinion of the Agent, as a result of such New Facility, without the need to obtain the signatures of each of the existing Lenders to such amendment.”

Appears in 1 contract

Samples: Lease Agreement (American Technical Ceramics Corp)

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