Subsequent Credit Extensions Sample Clauses

Subsequent Credit Extensions. The obligation of each Lender and each Issuer to make any Credit Extension other than the initial Credit Extension on the Closing Date shall be subject to the satisfaction of the condition precedent set forth below.
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Subsequent Credit Extensions. Each Borrowing of any Loans after the date of the initial Credit Extension shall be advanced by IBJW (for and on behalf of the Lenders) to the relevant Borrower by wire transfer to the account the Borrower Representative shall have specified in its Borrowing Request. On or before 1:00 p.m. (New York City time) on each Settlement Date, each Lender (other than IBJW) irrevocably agrees that it will make a Revolving Loan, CapEx Loan and/or Term Loan (each a "Refunding Loan") in an amount equal to such Lender's Percentage of the then aggregate outstanding principal amount of all the Revolving Loans, CapEx Loans and/or Term Loans, respectively. The proceeds of the Refunding Loans shall be applied to repay the Revolving Loans, CapEx Loans and/or Term Loans then outstanding and previously funded by IBJW, as the case may be. Once made, the Refunding Loans shall be deemed to be, for all purposes of this Agreement and the other Loan Documents, Revolving Loans, CapEx Loans or Term Loans, as the case may be, of the Lender making each such Loan. Until a Lender makes a Refunding Loan that repays in full the Revolving Loan, CapEx Loan and/or Term Loan made by IBJW on its behalf, IBJW shall be entitled to all principal and interest payments with respect to such Revolving Loans, Equity Loan and/or Term Loan. If any Lender fails to make any Refunding Loan on any Settlement Date, such Lender agrees to pay IBJW such amount, together with interest thereon accruing at the Federal Funds Effective Rate, for the first three Business Days following such Settlement Date, and thereafter at the applicable interest rate under this Agreement. In addition, if any Lender fails to make its Refunding Loans within three Business Days of any Settlement Date, the relevant Borrower agrees to repay such amount on demand. Each Lender's obligation to make the Refunding Loans referred to in this clause (ii) shall be absolute and unconditional and shall not be affected by any circumstance, including, without limitation, (A) any set-off, counterclaim, recoupment, defense or other right which such Lender may have against IBJW, the Borrowers or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) the acceleration or maturity of any Loans or the termination of the Revolving Loan Commitment; (D) any breach of this Agreement or any other Loan Document by the Borrowers, any Lender or the Agent; or (E) any other circumstance, happening or event...
Sample 1
Subsequent Credit Extensions. The Lenders shall not be required to make any Credit Extension after the initial $150,000,000 Credit Extension referred to in Section 4.1(xiv) above unless:
Sample 1

Related to Subsequent Credit Extensions

  • Initial Credit Extension The Lenders shall not be required to make the initial Credit Extension hereunder unless each of the following conditions is satisfied:

  • Incremental Credit Extensions (a) The Borrowers may at any time or from time to time on one or more occasions after the Effective Date request (i) one or more additional Classes of term loans (each, an “Incremental Term Facility”), (ii) one or more additional term loans of the same Class of any existing Class of term loans (each, an “Incremental Term Increase”), (iii) one or more increases in the amount of the Revolving Commitments of any Class (each such increase, an “Incremental Revolving Commitment Increase”) and/or (iv) one or more additional Classes of Revolving Commitments (the “Additional/Replacement Revolving Commitments,” and, together with any Incremental Term Facility, Incremental Term Increase and the Incremental Revolving Commitment Increases, the “Incremental Facilities”); provided that (x) after giving effect to any Incremental Facility Amendment referred to below and at the time that any such Incremental Facility is made or effected, no Event of Default (or, in the case of the incurrence or provision of any Incremental Facility in connection with a Limited Condition Transaction, no Specified Event of Default) shall have occurred and be continuing and (y) in no event shall it be a condition to the effectiveness of, or borrowing under, any Incremental Facility that any representation or warranty of any Loan Party set forth herein be true and correct, except and solely to the extent required by the Additional Lenders providing such Incremental Facility. Notwithstanding anything to the contrary herein, the aggregate principal amount of the Incremental Facilities that can be incurred at any time shall not exceed the Incremental Cap at such time. Each Incremental Facility shall be in a minimum principal amount of $5,000,000 and integral multiples of $1,000,000 in excess thereof (unless the Borrowers and the Administrative Agent otherwise agree); provided that such amount may be less than $5,000,000 if such amount represents all the remaining availability under the aggregate principal amount of Incremental Facilities set forth above.

  • All Credit Extensions The obligation of each Lender and each Issuer to make any Credit Extension shall be subject to the satisfaction of each of the conditions precedent set forth below.

  • Each Credit Extension The Lenders shall not be required to make any Credit Extension unless on the applicable Credit Extension Date:

  • Extension of Credit For the purposes hereof, each drawdown, rollover and conversion shall be deemed to be an extension of credit to the Borrower hereunder.

  • Commitments and Credit Extensions 2.01 Revolving and Term Loans

  • The Commitments and Credit Extensions 2.01 The Loans.

  • Credit Extensions Borrower promises to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower hereunder. Borrower shall also pay interest on the unpaid principal amount of such Credit Extensions at rates in accordance with the terms hereof.

  • Conditions to Credit Extensions SECTION 4.01. Conditions to Initial Credit Extension........................62 SECTION 4.02. Conditions to All Credit Extensions...........................67 ARTICLE V

  • Conditions of Credit Extensions The obligations of the Lenders to make Loans hereunder are subject to the satisfaction of the following conditions:

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