Examples of Loan Increase Effective Date in a sentence
On any Term Loan Increase Effective Date on which Incremental Term Loan Commitments are effective, subject to the satisfaction of the foregoing terms and conditions, each Lender of such Incremental Term Loan Commitment shall make an Incremental Term Loan to the Borrower in an amount equal to its Incremental Term Loan Commitment.
As of the Term Loan Increase Effective Date, the amortization schedule for the Term Loans set forth in Section 2.07(a) shall be amended to increase the then-remaining unpaid installments of principal by an aggregate amount equal to the additional Term Loans being made on such date, such aggregate amount to be applied to increase such installments ratably in accordance with the amounts in effect immediately prior to the Term Loan Increase Effective Date.
The Administrative Agent shall promptly notify the Borrower and the Term Loan Lenders of the final allocation of such increase and the Term Loan Increase Effective Date.
The Administrative Agent shall promptly notify the Company and the Term Lenders of the final allocation of such increase and the Term Loan Increase Effective Date.
On any Term Loan Increase Effective Date on which Incremental Term Loan Commitments are effective, subject to the satisfaction of the foregoing terms and conditions, each Incremental Lender of such Incremental Term Loan Commitment shall make an Incremental Term Loan to the Borrower in an amount equal to its Incremental Term Loan Commitment.
The Administrative Agent shall promptly notify the Borrower and the Term Lenders of the final allocation of such increase and the Term Loan Increase Effective Date.
The aggregate of the Incremental Term Commitments shall be automatically and permanently reduced to zero on the Term Loan Increase Effective Date applicable thereto upon the making of such Incremental Term Loans.
Prior to each respective Loan Increase Effective Date, the Administrative Agent shall receive from each Additional Incremental Lender, a Lenders’ Administrative Details Schedule or in the case of an existing Lender, an update to its Lenders’ Administrative Details Schedule and the Administrative Agent shall adjust each Lender’s Commitment Percentage to account for each such Lender and/or Additional Incremental Lender and each Commitment Increase and related Incremental Loan.
If there is a new borrowing of Loans on such Loan Increase Effective Date, the Lenders after giving effect to such Loan Increase Effective Date shall make such Loans in accordance with Article 3.
The Borrower agrees to pay to the Administrative Agent for the account of the Incremental Lender an upfront fee in an amount equal to 150 basis points of the amount of the Term Loan Increase provided by the Incremental Lender on the Term Loan Increase Effective Date.