Incremental Facility definition
Examples of Incremental Facility in a sentence
Each Incremental Facility will be in an integral multiple Dollar amount of $1.0 million and in an aggregate principal Dollar amount that is not less than $10.0 million (or such lesser minimum amount approved by the Agent in its reasonable discretion); provided that such amount may be less than such minimum amount or integral multiple amount if such amount represents all the remaining availability under the Additional Facility Limit.
Each of the parties hereto hereby agrees that, upon the effectiveness of any Incremental Amendment, this Agreement and the other Loan Documents, as applicable, will be amended to the extent necessary to reflect the existence and terms of the Incremental Facility and the Incremental Advances evidenced thereby.
Each Incremental Amendment will set forth the amount and terms of the relevant Incremental Facility.
Each Incremental Facility will become effective pursuant to an amendment (each, an “Incremental Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed by the Borrower, each Person providing such Incremental Facility and the Agent.