Examples of Incremental Facilities in a sentence
The Borrower may elect to incur such Incremental Facilities as a separate tranche or as an increase to any existing tranche of Loans.
Incremental Facilities shall, at the election of the Lead Borrower, be available in dollars or in one or more Alternative Currencies.
If Incremental Facilities are subordinated or secured on a junior basis to the Loans, a Debt Representative, acting on behalf of the holders of such Incremental Facilities, will become party or otherwise subject to the provisions of the applicable Acceptable Intercreditor Agreement or subject to subordination arrangements reasonably satisfactory to the Administrative Agent.
Each Incremental Facility shall be in an aggregate amount of $50,000,000 or any whole multiple of $5,000,000 in excess thereof (provided that (i) such amount may be less than $50,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Facilities set forth above and (ii) such multiple shall not be applicable with respect to the Incremental Facilities requested pursuant to clause (IV) of the definition of “Incremental Cap” on the Closing Date).
Incremental Facilities may, at the discretion of the Borrower, rank pari passu in right of payment with the Term Loans, be subordinated in right of payment to the Term Loans and/or be secured or unsecured.