Terms Applicable to Incremental Term Loans. In addition to the other conditions set forth in this Section 2.13 that may be applicable thereto, no Incremental Term Loans under any Incremental Facility shall become effective under this Section 2.13 unless: (i) (x) the final maturity of any Incremental Term Loan shall not be earlier than the Maturity Date and (y) the Weighted Average Life to Maturity of any Incremental Term Loan shall not be shorter than the remaining Weighted Average Life to Maturity of the Term Loans existing immediately prior to the Incremental Effective Date; and (ii) the other covenants and terms of such Incremental Term Loan (including related warrants, if any) are the same or more lender favorable than the Term Loans and Warrants existing immediately prior to the Incremental Effective Date (other than as required and/or permitted pursuant to clause (i) above).
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Samples: Loan and Security Agreement (Vertex Energy Inc.), Loan and Security Agreement (Vertex Energy Inc.), Loan and Security Agreement (Vertex Energy Inc.)
Terms Applicable to Incremental Term Loans. In addition to the other conditions set forth in this Section 2.13 that may be applicable thereto, no Incremental Term Loans under any Incremental Facility shall become effective under this Section 2.13 unless:
(i) (x) the final maturity of any Incremental Term Loan shall not be earlier than the Maturity Date and (y) the Weighted Average Life to Maturity of any Incremental Term Loan shall not be shorter than the remaining Weighted Average Life to Maturity of the Term Loans existing immediately prior to the Incremental Effective Date; and
(ii) β the other covenants and terms of such Incremental Term Loan (including related warrants, if any) are the same or more lender favorable than the Term Loans and Warrants existing immediately prior to the Incremental Effective Date (other than as required and/or permitted pursuant to clause (i) above).
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