Common use of Temporary Increase Effective Date Clause in Contracts

Temporary Increase Effective Date. The Temporary Increase shall be effective (the “Temporary Increase Effective Date”) upon the satisfaction of the following conditions precedent: (i) The Borrowers shall have delivered the Temporary Increase Request to the Administrative Agent within ninety (90) days of the Closing Date; (ii) No Event of Default or Material Potential Default shall have occurred and be continuing on the date on which the Temporary Increase Request is delivered or immediately after giving effect to the Temporary Increase; (iii) On the date on which the Temporary Increase Request is delivered in accordance with Section 2.16(a) hereof and on the Temporary Increase Effective Date, the representations and warranties (other than those set forth in Section 7.8 hereof which shall be replaced with the condition in Section 6.2(b) hereof) set forth herein and in the other Loan Documents are true and correct in USActive 58236919.3 -59- all material respects, with the same force and effect as if made on and as of such date (except to the extent of changes in facts or circumstances that have been disclosed to the Administrative Agent in writing and do not constitute an Event of Default or a Material Potential Default or to the extent such representations and warranties relate to an earlier or other specific date); (iv) On or prior to the proposed date of such Temporary Increase, the Borrowers shall have paid to the Administrative Agent for the benefit of the Initial Lender: (A) a fee of 20 basis points (0.20%) on the amount of the Temporary Increase multiplied by the tenor of such Temporary Increase divided by 365, and (B) all other fees due and owing hereunder or under any other Loan Document; and (v) The Borrowers shall have delivered to the Lenders a new or updated Beneficial Ownership Certification, as applicable, in relation to each Borrower that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, if so requested by the Administrative Agent prior to the Temporary Increase Effective Date.

Appears in 1 contract

Samples: Revolving Credit Agreement (T Series Middle Market Loan Fund LLC)

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Temporary Increase Effective Date. The Temporary Increase shall be effective (the “Temporary Increase Effective Date”) upon the satisfaction of the following conditions precedent: (i) The Borrowers shall have delivered the Temporary Increase Request to the Administrative Agent within ninety (90) days of the Closing Date; (ii) No Event of Default or Material Potential Default shall have occurred and be continuing on the date on which the Temporary Increase Request is delivered or immediately after giving effect to the Temporary Increase; (iii) On the date on which the Temporary Increase Request is delivered in accordance with Section 2.16(a) hereof and on the Temporary Increase Effective Date, the representations and warranties (other than those set forth in Section 7.8 hereof which shall be replaced with the condition in Section 6.2(b) hereof) set forth herein and in the other Loan Documents are true and correct in USActive 58236919.3 -59- all material respects, with the same force and effect as if made on and as of such date (except to the extent of changes in facts or circumstances that have been disclosed to the Administrative Agent in writing and do not constitute an Event of Default or a Material Potential Default or to the extent such representations and warranties relate to an earlier or other specific date); (iv) On or prior to the proposed date of such Temporary Increase, the Borrowers shall have paid to the Administrative Agent for the benefit of the Initial Lender: (A) a fee of 20 basis points (0.20%) on the amount of the Temporary Increase multiplied by the tenor of such Temporary Increase divided by 365, and (B) all other fees due and owing hereunder or under any other Loan Document; and (v) The Borrowers shall have delivered to the Lenders a new or updated Beneficial Ownership Certification, as applicable, in relation to each Borrower that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, if so requested by the Administrative Agent prior to the Temporary Increase Effective Date.. USActive 58236919.3

Appears in 1 contract

Samples: Revolving Credit Agreement (T Series Middle Market Loan Fund LLC)

Temporary Increase Effective Date. The Temporary Increase shall be effective (the “Temporary Increase Effective Date”) upon the satisfaction of the following conditions precedent: (i) The Borrowers shall have delivered the Temporary Increase Request to the Administrative Agent within ninety (90) days of the Closing Date; (ii) No Event of Default or Material Potential Default shall have occurred and be continuing on the date on which the Temporary Increase Request is delivered or immediately after giving effect to the Temporary Increase; (iii) On the date on which the Temporary Increase Request is delivered in accordance with Section 2.16(a) hereof and on the Temporary Increase Effective Date, the representations and warranties (other than those set forth in Section 7.8 hereof which shall be replaced with the condition in Section 6.2(b) hereof) set forth herein and in the other Loan Documents are true and correct in USActive 58236919.3 -59- all material respects, with the same force and effect as if made on and as of such date (except to the extent of changes in facts or circumstances that have been disclosed to the Administrative Agent in writing and do not constitute an Event of Default or a Material Potential Default or to the extent such representations and warranties relate to an earlier or other specific date); (iv) On or prior to the proposed date of such Temporary Increase, the Borrowers shall have paid to the Administrative Agent for the benefit of the Initial Lender: (A) a fee of 20 basis points (0.20%) on the amount of the Temporary Increase multiplied by the tenor of such Temporary Increase divided by 365, and (B) all other fees due and owing hereunder or under any other Loan Document; and (v) The Borrowers shall have delivered to the Lenders a new or updated Beneficial Ownership Certification, as applicable, in relation to each Borrower that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, if so requested by the Administrative Agent prior to the Temporary Increase Effective Date.

Appears in 1 contract

Samples: Revolving Credit Agreement (T Series Middle Market Loan Fund LLC)

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Temporary Increase Effective Date. The Temporary Increase shall be effective (the “Temporary Increase Effective Date”) upon the satisfaction of the following conditions precedent: (i) The Borrowers shall have delivered the Temporary Increase Request to the Administrative Agent within ninety (90) days of the Closing Date; (ii) No Event of Default or Material Potential Default shall have occurred and be continuing on the date on which the Temporary Increase Request is delivered or immediately after giving effect to the Temporary Increase; (iii) On the date on which the Temporary Increase Request is delivered in accordance with Section 2.16(a) hereof and on the Temporary Increase Effective Date, the representations and warranties (other than those set forth in Section 7.8 hereof which shall be replaced with the condition in Section 6.2(b) hereof) set forth herein and in the other Loan Documents are true and correct in USActive 58236919.3 -59- all material respects, with the same force and effect as if made on and as of such date (except to the extent of changes in facts or circumstances that have been disclosed to the Administrative Agent in writing and do not constitute an Event of Default or a Material Potential Default or to the extent such representations and warranties relate to an earlier or other specific date);; USActive 58236919.3 -58- (iv) On or prior to the proposed date of such Temporary Increase, the Borrowers shall have paid to the Administrative Agent for the benefit of the Initial Lender: (A) a fee of 20 basis points (0.20%) on the amount of the Temporary Increase multiplied by the tenor of such Temporary Increase divided by 365, and (B) all other fees due and owing hereunder or under any other Loan Document; and (v) The Borrowers shall have delivered to the Lenders a new or updated Beneficial Ownership Certification, as applicable, in relation to each Borrower that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, if so requested by the Administrative Agent prior to the Temporary Increase Effective Date.

Appears in 1 contract

Samples: Revolving Credit Agreement (T Series Middle Market Loan Fund LLC)

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