Common use of Terms of Incremental Commitments Clause in Contracts

Terms of Incremental Commitments. The terms and provisions of Term Loans made pursuant to the Incremental Commitments shall be as follows: (i) terms and provisions with respect to interest rates and amortization schedule of Incremental Term Loans shall be as agreed upon between the Borrower and the Incremental Lenders; (ii) the final maturity date of any Incremental Term Loan shall be no earlier than the Term Loan Maturity Date of the existing Term Loans; (iii) the Weighted Average Life to Maturity of any Incremental Term Loans shall be no shorter than the shortest remaining average life to maturity of any of the existing Term Loans; (iv) the interest rate margins for the new Incremental Term Loans shall be determined by the Borrower and the Incremental Lenders; provided, however, that the interest rate margins for such Incremental Term Loans shall be no greater than the highest interest rate margins that may, under any circumstances, be payable with respect to any existing Term Loans plus 50 basis points unless the interest rate margins of the applicable existing Term Loans are increased by an amount equal to (x) the excess of the interest rate margins of the Incremental Term Loans over the corresponding interest rate margins of the respective existing Term Loans minus (y) 50 basis points; and (v) to the extent that the terms and provisions of the Incremental Loans are not identical to the existing Term Loans (except to the extent permitted by clauses (i), (ii), (iii) and (iv) above), such terms and conditions shall be satisfactory to the Administrative Agent, acting reasonably.

Appears in 2 contracts

Samples: Term Loan Credit Agreement (Delta Air Lines, Inc.), Term Loan Credit Agreement

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Terms of Incremental Commitments. The terms and provisions of Term Loans made pursuant to the Incremental Commitments shall be as follows: (i) terms and provisions with respect to interest rates and amortization schedule Except in the case of Incremental Term Loans shall be as agreed upon between the Borrower and the Incremental Lenders; (ii) the final maturity date of any a newly established Incremental Term Loan Facility, each such Incremental Commitment (including any existing Incremental Term Loan Facility) shall be no earlier than on the same terms as the Facility being increased and all incremental commitments and loans provided as part of a newly established Incremental Term Loan Maturity Date of the existing Term Loans; Facility, subject to subsection (iiib) the Weighted Average Life to Maturity of any Incremental Term Loans above, shall be no shorter than the shortest remaining average life on terms agreed to maturity of any of the existing Term Loans; (iv) the interest rate margins for the new Incremental Term Loans shall be determined by the Borrower and the Lenders providing such Incremental LendersTerm Loan Facility; and (ii) Each Incremental Term Loan Facility and the related Incremental Term Loans, subject to clause (ii) of the last proviso to Section 11.01, if applicable, will be on such terms (including as to amortization and maturity) as are agreed to by the Borrower and each Incremental Term Loan Lender with respect to such Incremental Term Loan Facility; provided that, if the terms of such Incremental Term Loan Facility and the related Incremental Term Loans (other than final maturity) are not the same as the terms of a then existing Incremental Term Loan Facility, the operational, technical and administrative provisions of such Incremental Term Loan Facility shall be reasonably acceptable to the Administrative Agent; provided, however, further that the interest rate margins for such Incremental Term Loans shall be no greater will not in any event have a maturity date earlier than the highest interest rate margins that may, under latest Maturity Date (including any circumstances, be payable with respect to extension option) of any then existing Term Loans plus 50 basis points unless the interest rate margins of the applicable existing Term Loans are increased by an amount equal to (x) the excess of the interest rate margins of the Incremental Term Loans over the corresponding interest rate margins of the respective existing Term Loans minus (y) 50 basis points; and (v) to the extent that the terms and provisions of the Incremental Loans are not identical to the existing Term Loans (except to the extent permitted by clauses (i), (ii), (iii) and (iv) above), such terms and conditions shall be satisfactory to the Administrative Agent, acting reasonablyFacility.

Appears in 2 contracts

Samples: Credit Agreement (Acadia Realty Trust), Credit Agreement (Acadia Realty Trust)

Terms of Incremental Commitments. The terms and provisions of Term Loans made pursuant to the Incremental Commitments shall be as follows: (i) terms and provisions with respect to interest rates and amortization schedule Except in the case of Incremental Term Loans shall be as agreed upon between the Borrower and the Incremental Lenders; (ii) the final maturity date of any a newly established Incremental Term Loan Facility, each such Incremental Commitment (including any existing Incremental Term Loan Facility) shall be no earlier than on the same terms as the Facility being increased and all incremental commitments and loans provided as part of a newly established Incremental Term Loan Maturity Date of the existing Term Loans; Facility, subject to subsection (iiib) the Weighted Average Life to Maturity of any Incremental Term Loans above, shall be no shorter than the shortest remaining average life on terms agreed to maturity of any of the existing Term Loans; (iv) the interest rate margins for the new Incremental Term Loans shall be determined by the Borrower and the Lenders providing such Incremental LendersTerm Loan Facility; and (ii) Each Incremental Term Loan Facility and the related Incremental Term Loans, subject to clause (ii) of the last proviso to Section 11.01, if applicable, will be on such terms (including as to amortization and maturity) as are agreed to by the Borrower and each Incremental Term Loan Lender with respect to such Incremental Term Loan Facility; 74 provided that, if the terms of such Incremental Term Loan Facility and the related Incremental Term Loans (other than final maturity) are not the same as the terms of a then existing Incremental Term Loan Facility, the operational, technical and administrative provisions of such Incremental Term Loan Facility shall be reasonably acceptable to the Administrative Agent; provided, however, further that the interest rate margins for such Incremental Term Loans shall be no greater will not in any event have a maturity date earlier than the highest interest rate margins that may, under latest Maturity Date (including any circumstances, be payable with respect to extension option) of any then existing Term Loans plus 50 basis points unless the interest rate margins of the applicable existing Term Loans are increased by an amount equal to (x) the excess of the interest rate margins of the Incremental Term Loans over the corresponding interest rate margins of the respective existing Term Loans minus (y) 50 basis points; and (v) to the extent that the terms and provisions of the Incremental Loans are not identical to the existing Term Loans (except to the extent permitted by clauses (i), (ii), (iii) and (iv) above), such terms and conditions shall be satisfactory to the Administrative Agent, acting reasonablyFacility.

Appears in 1 contract

Samples: Credit Agreement (Acadia Realty Trust)

Terms of Incremental Commitments. Unless otherwise agreed by Administrative Agent and the Lenders (including any Incremental Lender with regard to such Incremental Commitment): 1.1.40.1. The terms and provisions outstanding principal balance of the Credit Extensions made under each Incremental Term Loans Loan Facility (other than quarterly installments made pursuant to the Incremental Commitments Section 2.7(b)), together with all interest and fees with respect thereto, shall be as follows: (i) terms due and provisions with respect to interest rates and amortization schedule of Incremental Term Loans shall be as agreed upon between payable no earlier than the Borrower and the Incremental LendersMaturity Date; (ii) the final 1.1.40.2. The weighted average life to maturity date of any Incremental Term Loan shall be no earlier than the Term Loan Maturity Date of the existing Term Loans; (iii) the Weighted Average Life to Maturity of any Incremental Term Loans Facility shall be no shorter than the shortest remaining weighted average life to maturity of any of the existing Term Loans; (iv) the interest rate margins for the new Loan outstanding immediately before giving effect to such Incremental Term Loans Loan Facility, 1.1.40.3. The interest margins and amortization schedule for any such Incremental Term Loan Facility shall be determined by the Borrower and the lenders of such Incremental LendersTerm Loan Facility (subject to the preceding clause (ii)); providedprovided that, however, in the event that the interest rate margins all-in-yield for any Incremental Term Loan Facility is greater than the all-in-yield for the Term Loans outstanding immediately before giving effect to such Incremental Term Loan Facility, then the Applicable Margin for such outstanding Term Loans shall be increased to the extent necessary so that the all-in-yield for such Incremental Term Loans shall be no greater Loan Facility is not higher than the highest interest rate margins that may, under any circumstances, be payable with respect to any existing all-in-yield for the such outstanding Term Loans plus 50 basis points unless the interest rate margins of the applicable existing Term Loans are increased by an amount equal to (x) the excess of the interest rate margins of the Incremental Term Loans over the corresponding interest rate margins of the respective existing Term Loans minus (y) 50 basis pointsLoans; and 1.1.40.4. (vA) any Revolving Commitment Increase shall be subject to the extent that the same terms and provisions of documentation as the Revolving Credit Facility, and (B) any Incremental Loans are not identical Term Loan Facility shall be on terms (excluding pricing terms), when taken as whole, more restrictive than those applicable to the Revolving Credit Facility and the then-existing Term Loans (except to the extent permitted by clauses (i), (ii), (iii) and (iv) above), such terms and conditions shall be satisfactory to the Administrative Agent, acting reasonablyLoan Facility.

Appears in 1 contract

Samples: Credit Agreement (Bgsf, Inc.)

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Terms of Incremental Commitments. The terms Unless otherwise agreed by Administrative Agent and provisions of Term Loans made pursuant the Lenders (including any Incremental Lender with regard to the such Incremental Commitments shall be as follows:Commitment): (i) terms The outstanding principal balance of the Credit Extensions made under each Incremental Term Loan Facility (other than quarterly installments made pursuant to Section 2.7(b)), together with all interest and provisions fees with respect to interest rates and amortization schedule of Incremental Term Loans thereto, shall be as agreed upon between due and payable no earlier than the Borrower and the Incremental LendersMaturity Date; (ii) the final The weighted average life to maturity date of any Incremental Term Loan shall be no earlier than the Term Loan Maturity Date of the existing Term Loans; (iii) the Weighted Average Life to Maturity of any Incremental Term Loans Facility shall be no shorter than the shortest remaining weighted average life to maturity of any of the existing Term Loans;Loan outstanding immediately before giving effect to such Incremental Term Loan Facility, (iviii) the The interest rate margins and amortization schedule for the new any such Incremental Term Loans Loan Facility shall be determined by the Borrower and the lenders of such Incremental LendersTerm Loan Facility (subject to the preceding clause (ii)); providedprovided that, however, in the event that the interest rate margins all-in-yield for any Incremental Term Loan Facility is greater than the all-in-yield for the Term Loans outstanding immediately before giving effect to such Incremental Term Loan Facility, then the Applicable Margin for such outstanding Term Loans shall be increased to the extent necessary so that the all-in-yield for such Incremental Term Loans shall be no greater Loan Facility is not higher than the highest interest rate margins that may, under any circumstances, be payable with respect to any existing all-in-yield for the such outstanding Term Loans plus 50 basis points unless the interest rate margins of the applicable existing Term Loans are increased by an amount equal to (x) the excess of the interest rate margins of the Incremental Term Loans over the corresponding interest rate margins of the respective existing Term Loans minus (y) 50 basis pointsLoans; and (viv) (A) any Revolving Commitment Increase shall be subject to the extent that the same terms and provisions of documentation as the Revolving Credit Facility, and (B) any Incremental Loans are not identical Term Loan Facility shall be on terms (excluding pricing terms), when taken as whole, more restrictive than those applicable to the Revolving Credit Facility and the then-existing Term Loans (except to the extent permitted by clauses (i), (ii), (iii) and (iv) above), such terms and conditions shall be satisfactory to the Administrative Agent, acting reasonablyLoan Facility.

Appears in 1 contract

Samples: Credit Agreement (Bgsf, Inc.)

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