Examples of Existing Loan Facility in a sentence
Any Bank (an “Extending Lender”) wishing in its sole and individual discretion to have all or any portion of its Term Loans under the Existing Loan Facility subject to such Extension Request converted into Extended Loans shall notify the Administrative Agent (an “Extension Election”) on or prior to the date specified in such Extension Request of the amount of its Term Loans under the Existing Loan Facility which it has elected to request be converted into Extended Loans.
No Bank shall have any obligation to agree to have any of its Term Loans of any Existing Loan Facility converted into Extended Loans pursuant to any Extension Request.
In the event that the aggregate amount of Term Loans under the Existing Loan Facility subject to Extension Elections exceeds the amount of Extended Loans requested pursuant to the Extension Request, Term Loans subject to Extension Elections shall be converted to Extended Loans on a pro rata basis based on the amount of Term Loans included in such Extension Election.
Any such request shall be made on a pro rata basis and on the same terms to each applicable Revolving Lender or Term Loan Lender that holds an interest in the applicable Existing Loan Facility, and shall be subject to the terms and conditions set forth in this Section 2.21.
No Bank shall have any obligation to agree to have any of its Term Loans, Revolving Loans or Revolving Commitments, as applicable, of any Existing Loan Facility converted into Extended Loans or Extended Revolving Commitments pursuant to any Extension Request.