New Incremental Loans definition

New Incremental Loans has the meaning specified in Section 2.19(a) (Facility Increases).

New Incremental Loans means all New Incremental Loans of the New Incremental Loan Lenders. The New Incremental Loans may from time to time be Eurodollar Loans or Base Rate Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.13.

Examples of New Incremental Loans in a sentence

• No Lender shall be obligated to provide any New Incremental Loans or Refinancing Loans (or to agree to extend the maturity date of any Loan), unless it so agrees in its sole discretion.

• The New Incremental Loans shall rank pari passu with the other Obligations.

• Subject to the terms hereof, and solely the conditions set forth in Section 5.3 of this Agreement, each New Incremental Loan Lender agrees to make New Incremental Loans to the Borrower on the New Incremental Loan Funding Date denominated in dollars in a principal amount of (but not exceeding) such New Incremental Loan Lender’s New Incremental Loan Commitment.

• The Borrower shall repay to the Administrative Agent for the ratable account of the applicable New Incremental Loan Lenders on the last Business Day of each March, June, September and December, commencing with the last Business Day of June, 2021, an aggregate principal amount equal to 0.25% of the aggregate principal amount of the New Incremental Loans outstanding on the New Incremental Loan Funding Date.

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• The Borrower hereby appoints JPMorgan (acting through its affiliates as deemed appropriate by JPMorgan) as sole lead arranger and sole bookrunner with respect to the New Incremental Loans.

• Risk management‌(a) Risk management frameworkThe Group operates a risk management framework that forms an integral part of the management and Board processes and decision-making framework across the Group, including the Company and its subsidiaries.

• On the Amendment No. 2 Effective Date, both immediately prior to and immediately after giving effect to this Amendment and both immediately prior to and immediately after the making of the New Incremental Loans, no Default or Event of Default shall have occurred or is continuing.

• The Borrower will use the proceeds of the New Incremental Loans solely in accordance with Section 5.15(a).

• Subject solely to the conditions set forth in S ection 5.3 of the Amended Credit Agreement, the New Incremental Loan Lenders shall establish the New Incremental Loan Facility and fund the New Incremental Loans promptly following the occurrence of the Amendment No. 2 Effective Date.