Accordion Commitment definition

Accordion Commitment means, with respect to any Lender Group, the aggregate amount of any increase in such Lender Group’s Commitment pursuant to Section 2.02(c) of the Funding Agreement consented to by the applicable Managing Agent on behalf of the Lenders in such Lender Group.

Accordion Commitment means the commitments of the Accordion Lenders to fund the Accordion Amount as set forth in subsection 2.1(f).

Accordion Commitment means Fifty Million Dollars ($50,000,000).

Examples of Accordion Commitment in a sentence

• The parties recognize and agree that the Accordion Commitment Fee (i) was not and is not a charge for the use of money, but rather a purchase of the right to secure a loan of money on the part of Borrower, and (ii) was a material inducement for Lender to provide the Accordion Facility and for having Lender ready, willing and able to fund the Accordion Facility in accordance with the terms of the Commitment Letter and this Agreement.

• The commitment fees payable by Borrower pursuant to this subsection are collectively referred to as the "Accordion Commitment Fee").

• Each Accordion Lender shall confirm its agreement to providing all or part of the Proposed Accordion Facility Amount as agreed by countersigning the Accordion Commitment Notice pursuant to the terms of which it agrees to (i) commit to its share of the Proposed Accordion Facility Amount and (ii) (to the extent it is not already a Lender) to become a Lender and Party to this Agreement.

• Upon a request by Company hereunder, each Accordion Lender shall increase its Commitment by an amount equal to its Accordion Commitment.

• Lender has received from Borrower the notice of Borrower's election to activate the Accordion Facility setting forth the Initial Accordion Amount, as provided in Section 2.2, and the applicable Accordion Commitment Fee has been paid to Lender.

• During the Accordion Commitment Period, subject to the terms and conditions hereof, Lender agrees to make Accordion Advances in Dollars to Borrower from time to time in a principal amount not to exceed the lesser of (i) Effective Accordion Note Amount or (ii) up to TWENTY MILLION DOLLARS ($20,000,000) (the "Accordion Committed Amount") to finance working capital needs, the issuance of Letters of Credit and other general corporate purposes, including Acquisitions.

• Borrower's payment of the Accordion Commitment Fee to Lender is and shall be in addition to all other payments (including without limitation principal and interest) now or hereafter payable to Lender pursuant to the Accordion Note and this Agreement.

• The Borrower shall pay such up-front, arrangement or other fees as may be agreed by the Administrative Agent and any Lender that has provided an Accordion Commitment and the Borrower shall deliver or cause to be delivered any customary legal opinions or other documents reasonably requested by the Administrative Agent in connection with any Accordion Commitment.

• Effective as of the Accordion Effective Date: (i) Schedule A hereto shall be automatically amended to increase the Individual Commitment of such Accordion Lender with respect to the RT Facility by the amount of its Individual Accordion Commitment, and (ii) any reference to “RT Credit Limit” shall be interpreted and construed as a reference to the RT Credit Limit as increased by the amount of the Accordion Increase.

• Lender has received from Borrower the notice of Borrower’s election to activate the Accordion Facility setting forth the Initial Accordion Amount, as provided in Section 2.2, and the applicable Accordion Commitment Fee has been paid to Lender.

More Definitions of Accordion Commitment

Accordion Commitment means, as applicable, that portion of any Lender’s commitment issued or increased under Section 2.15.

Accordion Commitment has the meaning given to that term in Clause 2.2 (Accordion Increase in Commitments). Accordion Increase has the meaning given to that term in Clause 2.2 (Accordion Increase in Commitments).

Accordion Commitment has the meaning set out in Section 2.20(a).

Accordion Commitment means in relation to a Lender which is an Accordion Lender, the amount set opposite its name under the heading “Accordion Commitment” in the relevant Accordion Notice and the amount of any other Accordion Commitment relating to the Facilities transferred to it under this Agreement or assumed by it in accordance with clauses 2.3 to 2.11 (Increase) to the extent not cancelled, reduced or transferred by it under this Agreement.

Accordion Commitment means, as to each Person which has elected, in its sole and absolute discretion, in writing to become an Accordion Lender, its obligation to make Accordion Loans to the Borrower pursuant to Section 2.01(b) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on a schedule to be provided upon the inclusion of the Accordion Facility hereto, as such amount may be adjusted from time to time in accordance with this Agreement.