Accordion Option definition

Accordion Option means the option available to the Borrower (in accordance with Clause 2.6 (Accordion option)) to request an increase in the Total Commitments.

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Accordion Option means, on any date prior to the termination of the Reinvestment Period on which the aggregate outstanding principal amount of the Advances is at least equal to U.S.$155,000,000, the option of the Company to request in writing (which may be by email) (an "Accordion Option Request") from the Administrative Agent and the Financing Providers an increase of the Financing Commitments to U.S.$235,000,000.

Accordion Option. Has the meaning set forth in Section 7.20.

Examples of Accordion Option in a sentence

The Repeating Representations are deemed to be made by each Obligor by reference to the facts and circumstances then existing on the date of each Utilisation Request, the first day of each Interest Period, the date of each Accordion Option Notice and on each Accordion Option Increase Date.
Each Additional Commitment must be for a minimum of USD 10,000,000 and no more than four Accordion Option Notices may be delivered during the term of this Agreement.
For avoidance of doubt, no further options remain exercisable by Borrower with respect to their Accordion Option (as defined in Section 7.20 of the Loan Agreement).
Upon receipt of an Accordion Option Notice, each Existing Purchaser shall have the option, but not the obligation, subject to the terms and conditions set forth in this Section 2.02(d), to increase its Commitment pursuant to this Section 2.02(d) in an aggregate amount for all Purchasers so opting to increase their Commitments by a total amount equal to the requested increase to the Maximum Purchase Limit set forth in such Accordion Option Notice (each such increase, if any, the “Accordion Activation”).
Bank may rely on any certificate, report, or representation made by any Borrower as made on behalf of, and binding on, all Borrowers, including without limitation any Disbursement Request Forms, Borrowing Base Certificates, Compliance Certificates, and Accordion Option Request.

More Definitions of Accordion Option

Accordion Option means, on any date prior to the termination of the Reinvestment Period on which the aggregate outstanding principal amount of the Advances is at least equal to U.S.$400,000,000, the option of the Company to request in writing (which may be by email) (each an “Accordion Option Request”) from the Administrative Agent and the Lenders an increase of the Financing Commitments to up to U.S.$750,000,000; provided that the amount of each Accordion Option Request shall be not less than U.S.$25,000,000.

Accordion Option means the option described in Clause 2.2 (The Accordion Option).

Accordion Option shall have the meaning assigned to such term in Section 2.4 of this Agreement.

Accordion Option means, on any date during the Reinvestment Period on which the aggregate outstanding principal amount of the Advances is at least equal to U.S.$175,000,000, the option of the Company to request in writing (which may be by email) (an "Accordion Option Request") from the Administrative Agent and the Financing Providers (with a copy to the Collateral Agent and the Collateral Administrator and which may be by email) an increase of the Financing Commitments to up to U.S.$275,000,000 (or such lesser amount as is acceptable to the Administrative Agent and the Financing Providers); provided that any Accordion Option Request shall be in an amount not less than U.S.$25,000,000 (or such lesser amount as is acceptable to the Administrative Agent and the Financing Providers).

Accordion Option means the option set out in Clause 2.5 in relation to the Accordion Facility.

Accordion Option shall have the meaning set forth in Section 2.6.

Accordion Option means the option to request an increase in the Facility in accordance with Clause 2.4 (Accordion Option).