Upsize Loan Commitments Sample Clauses

The Upsize Loan Commitments clause allows borrowers to increase the total amount of their loan commitments under an existing credit agreement. Typically, this clause outlines the process by which a borrower can request additional funds, often requiring lender consent and adherence to certain conditions such as satisfactory credit checks or compliance with financial covenants. Its core practical function is to provide flexibility for borrowers to access more capital as their needs grow, without the need to negotiate an entirely new loan agreement, thereby streamlining the process and supporting business expansion.
Upsize Loan Commitments. (a) The Borrower shall have the right, in consultation and coordination with the Administrative Agent as to all of the matters set forth below in this Section 2.13, but without requiring the consent of the Lenders, to request at any time after the Closing Date and prior to the Upsize Loan Availability Termination Date that one or more Lenders (and/or one or more other Persons reasonably satisfactory to the Administrative Agent which are Eligible Transferees and which will become Lenders) provide Upsize Loan Commitments and, subject to the applicable terms and conditions contained in this Agreement and the Upsize Loan Commitment Agreement, make Upsize Loans pursuant thereto, provided that: (i) no Lender shall be obligated to provide an Upsize Loan Commitment pursuant hereto, and until such time, if any, as such Lender has agreed in its sole discretion to provide an Upsize Loan Commitment and executed and delivered to the Administrative Agent and the Borrower an Upsize Loan Commitment Agreement as provided in clause (b) of this Section 2.13, such Lender shall not be obligated to fund any Initial Term Loans in excess of its Initial Term Loan Commitment (if any) as in effect prior to giving effect to such Upsize Loan Commitment provided pursuant to this Section 2.13; (ii) any Lender (including any Person which is an Eligible Transferee who will become a Lender) may so provide an Upsize Loan Commitment hereunder without the consent of any other Lender; (iii) the Total Upsize Loan Commitments permitted to be provided pursuant to this Section 2.13 shall not exceed in the aggregate $35,000,000; (iv) Upsize Loans issued pursuant to such Upsize Loan Commitments shall be used in accordance with Section 6.10(b); (v) such Upsize Loan Commitments and the Upsize Loans issued pursuant thereto shall have the same terms as the Initial Term Loan Commitments and the Initial Term Loans, provided that Upsize Loan Commitments shall be incurred pursuant to a separate Tranche whereby the term loan or term loans issued pursuant thereto (each, an “Upsize Loan” and, collectively, the “Upsize Loans”) may have different pricing than the Initial Term Loans, but shall otherwise have the same terms as the Initial Term Loan Commitments and the Initial Term Loans in all material respects, including, without limitation, the final maturity date; (vi) all Upsize Loans incurred pursuant to an Upsize Loan Commitment (and all interest, fees and other amounts payable thereon) shall be Obligations ...
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Related to Upsize Loan Commitments

  • Term Loan Commitments Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a term loan (the “Term Loan”) to the Borrower on the Closing Date in such principal amount as the Borrower shall request up to, but not exceeding such Lender’s Term Loan Commitment.

  • Term Loan Commitment As to each Term Loan Lender, the amount equal to such Term Loan Lender’s Term Loan Commitment Percentage of the aggregate principal amount of the Term Loans from time to time outstanding to the Borrower.

  • Loan Commitments (i) Subject to the terms and conditions hereof, each Lender with an Initial Tranche A Term Loan Commitment severally agrees to make, on the Closing Date, one or more term loans (each, an “Initial Tranche A Term Loan”) to the Borrower in Dollars in an amount equal to such Lender’s Initial Tranche A Term Loan Commitment. The Borrower may make only one borrowing under the Initial Tranche A Term Loan Commitment which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a)(i) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11(a) and 2.12, all amounts owed hereunder with respect to the Initial Tranche A Term Loans shall be paid in full no later than the Maturity Date applicable to such Initial Tranche A Term Loans. Each Lender’s Initial Tranche A Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Initial Tranche A Term Loan Commitment on such date. (ii) Subject to the terms and conditions hereof, each Lender with an Initial Tranche B Term Loan Commitment severally agrees to make, on the Closing Date one or more term loans (each, an “Initial Tranche B Term Loan”) to the Borrower in Dollars in an amount equal to such Lender’s Initial Tranche B Term Loan Commitment. The Borrower may make only one borrowing under the Initial Tranche B Term Loan Commitment which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a)(ii) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.11(a) and 2.12, all amounts owed hereunder with respect to the Initial Tranche B Term Loans shall be paid in full no later than the Maturity Date applicable to such Initial Tranche B Term Loans. Each Lender’s Initial Tranche B Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Initial Tranche B Term Loan Commitment on such date.

  • Loan Commitment Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Company herein set forth, the Lender hereby agrees to lend to the Company on the Closing Date and thereafter up to $209,900,000 in the aggregate (the "Loan") consisting of $104,950,000 of 7-year Tranche advances and $104,950,000 of 10-year Tranche advances. The Lender's commitment to make the Loan to the Company pursuant to this Section 2.1 is herein called the "Loan Commitment."

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.