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: (i) Not later than the Business Day next following the initial Borrowing Date: (a) Travelers shall have merged with a direct Wholly-Owned Subsidiary of the Borrower and thereby become a direct Wholly-Owned Subsidiary of the Borrower, (b) the Spin-Off Transaction shall have been consummated substantially as set forth in the Form 10, including the Borrower's payment of the Viad Payment, and (c) the Borrower and Viad shall have entered into Separation Agreements in form and substance reasonably acceptable to the Agent and Syndication Agent, copies of which, along with the Spin-Off Documents shall have been provided to the Agent. (ii) The Agent shall have received from the Borrower a certificate signed by its Chief Financial Officer or Treasurer to the effect that the conditions set forth in Section 4.2(i) have been satisfied.
Sample 1

Related to Subsequent Credit Extensions

  • Initial Credit Extension The obligations of the Lenders and, if applicable, the Issuer to fund the initial Credit Extension shall be subject to the prior or concurrent satisfaction of each of the conditions precedent set forth in this Section 5.1.

  • Incremental Credit Extensions (a) At any time and subject to the terms and conditions of this Section 2.19, the Company may request (i) one or more new tranches of term facilities (any such new term facilities, an “Incremental Term Facility” and any loans made pursuant to an Incremental Term Facility, “Incremental Term Loans”) and/or (ii) one or more increases in the Aggregate Revolving Credit Commitments and/or add up to two new Foreign Borrower Tranches (it being agreed such new Foreign Borrower Tranche may only be borrowed by a Foreign Subsidiary) (each such increase or additional Foreign Borrower Tranche, a “Revolving Credit Commitment Increase” and the loans thereunder the “Incremental Revolving Loans”, together with the Incremental Term Loans, the “Incremental Loans”) with the consent of the Administrative Agent (not to be unreasonably withheld, conditioned or delayed) but without the consent of any Lender not providing such Incremental Term Loans or Revolving Credit Commitment Increases, as the case may be; provided that (A) (i) the aggregate amount of all Incremental Term Loans and Revolving Credit Commitment Increases made during the term of this Agreement after the Execution Date shall not exceed the Dollar Equivalent Amount of the Incremental Amount and (ii) any Incremental Facility shall rank pari passu in right of payment and security with the other Credit Facilities; (B) the maturity date and weighted average life to maturity of any Incremental Facility that is a “term A facility” (which shall mean a term loan facility with amortization greater than 1% per year prior to maturity) (an “Incremental Term A Facility” and the loans thereunder, the “Incremental Term A Loans”) shall be no shorter than the maturity date and remaining weighted average life to maturity of the then-existing (or committed) Term A Loans (including any previously made Incremental Term A Loans), in each case calculated as of the date of making such Incremental Term A Loan;

  • 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 After the Closing Date, the obligation of each Revolving Lender or Issuing Bank to make any Credit Extension is subject to the satisfaction of the following conditions: (i) In the case of any Borrowing, the Administrative Agent shall have received a Borrowing Request as required by Section 2.03 or (ii) in the case of the issuance of any Letter of Credit, the applicable Issuing Bank and the Administrative Agent shall have received a Letter of Credit Request as required by Section 2.05(b). (b) The representations and warranties of the Loan Parties set forth in this Agreement and the other Loan Documents shall be true and correct in all material respects on and as of the date of any such Credit Extension with the same effect as though such representations and warranties had been made on and as of the date of such Credit Extension; provided, that to the extent that any representation and warranty specifically refers to a given date or period, it shall be true and correct in all material respects as of such date or for such period. (c) At the time of and immediately after giving effect to the applicable Credit Extension, no Default or Event of Default has occurred and is continuing. Each Credit Extension after the Closing Date shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs (b) and (c) of this Section 4.02; provided, however, that the conditions set forth in this Section 4.02 shall not apply to (A) any Incremental Loan and/or (B) any Credit Extension under any Refinancing Amendment and/or Extension Amendment unless in each case the lenders in respect thereof have required satisfaction of the same in the applicable Incremental Facility Agreement, Refinancing Amendment or Extension Amendment, as applicable; it being understood and agreed that no Event of Default then exists or would exist after giving effect thereto (except in the case of the incurrence or provision of any Incremental Facility in connection with a Permitted Acquisition, Investment or similar transaction not prohibited by the terms of this Agreement, in which case, no Specified Event of Default then exists or would exist after giving effect thereto at the time of the borrowing of any Incremental Facility).

  • 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 33 Loans ......................................................................................................................33 Borrowings, Conversions and Continuations of Loans .........................................33

  • 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

  • Initial Extension of Credit The obligation of Lender to make the initial Advance or issue the initial Letter of Credit is subject to the condition precedent that Lender will have received on or before the day of such Advance or issuance of such Letter of Credit all of the following, each dated (unless otherwise indicated) the Closing Date, in form and substance satisfactory to Lender:

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