Examples of Incremental Commitments in a sentence
The Incremental Commitments shall be effected by a joinder agreement (the “Increase Joinder”) executed by the Borrowers, the Agent and each Lender making such Incremental Commitment, in form and substance reasonably satisfactory to each of them.
Each Incremental Commitment shall be in a minimum aggregate amount of $10,000,000 or any whole multiple of $10,000,000 in excess thereof (provided that such amount may be less than $10,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Commitments set forth in above.
Each such notice shall specify the date (each, an “Increase Effective Date”) on which the Borrowers propose that the Incremental Commitments shall be effective, which shall in no event be less than ten (10) Business Days from the date of delivery of such notice to the Lenders.
Any existing Lender approached to provide all or a portion of the Incremental Commitments may elect or decline, in its sole discretion, to provide such Incremental Commitment; any Lender not responding within the applicable time period shall be deemed to have declined to increase its Commitment.