Examples of Incremental Revolver in a sentence
No Lender (or any successor thereto) shall have any obligation to establish all or any portion of such Incremental Revolver or to increase any other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to establish all or any portion of such Incremental Revolver shall be made in its sole discretion independently from any other Lender.
Agent is authorized to enter into, on behalf of Lenders, any amendment to this Agreement or any other document as may be necessary to incorporate the terms of any new Incremental Revolver Facility therein.
Any Incremental Revolver Loans shall have the same terms (including, but not limited to, maturity date, voting rights and rights to receive the proceeds of prepayments but excluding the Applicable Margins for interest rates applicable thereto) as the existing Revolver Loans and shall be considered Revolver Loans hereunder.
At the time of sending such notice, Borrower Agent (in consultation with Agent) shall specify the time period within which each Lender is requested to respond and the proposed Applicable Margins (or range of proposed Applicable Margins) acceptable to Borrowers to be applicable to the requested Incremental Revolver Loans.
No consent of any Lender not committing to the Incremental Revolver is required to permit the Incremental Revolver contemplated by and otherwise complying with this Section 1.13(c) or the aforesaid amendment to effectuate the Incremental Revolver.
The Agent shall have received duly executed counterparts of this Amendment from the Borrowers, Holdings, each other Loan Party, each Fronting Bank, each Swingline Lender and the Incremental Revolver Lenders party hereto.
Any loans made pursuant to the Incremental Revolver Facility shall have the same terms (including, but not limited to, interest rate, maturity date, voting rights and rights to receive the proceeds of prepayments) as the existing Revolver Loans and shall be considered Revolver Loans hereunder.
Final allocations of the Incremental Revolver shall be determined by the Agent after consultation with Borrower.
Each Lender shall have the right for a period of fifteen (15) days following receipt of such notice, to elect by written notice to the Borrower and the Agent, to commit to establish all or a portion of such Incremental Revolver.
Such notice shall set forth (i) the amount of the Incremental Revolver Commitment being requested (which shall be in a minimum amount of $1,000,000 and multiples of $1,000,000 in excess thereof), and (ii) the date (an “Incremental Effective Date”) on which such Incremental Facility is requested to become effective (which, unless otherwise agreed by Agent, shall not be less than ten (10) Business Days nor more than sixty (60) days after the date of such notice).