Common use of Increase in the Term Loan Commitments Clause in Contracts

Increase in the Term Loan Commitments. (a)The Borrower may, at any time, by written notice to the Administrative Agent, request an increase in the aggregate amount of the Facility (each such increase, an “Incremental Term Loan Increase”) by not more than $25,000,000 to prior to the Incremental Increase Maturity Date (the date of such increase, the “Increase Date”) as specified in the related notice to the Administrative Agent; provided, however, that (i) in no event shall the aggregate principal amount of the Facility at any time exceed $95,000,000 in the aggregate, and (ii) on the date of any request by the Borrower for an Incremental Term Loan Increase and on the related Increase Date, the applicable conditions set forth in Article III shall be satisfied.

Appears in 3 contracts

Samples: Credit Agreement (Trinity Place Holdings Inc.), Credit Agreement (Trinity Place Holdings Inc.), Credit Agreement (Trinity Place Holdings Inc.)

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Increase in the Term Loan Commitments. (a)The a) The Borrower may, at any time, by written notice to the Administrative Agent, request an increase in the aggregate amount of the Facility (each such increase, an “Incremental Term Loan Increase”) by not more than $25,000,000 to prior to the Incremental Increase Maturity Date (the date of such increase, the “Increase Date”) as specified in the related notice to the Administrative Agent; provided, however, that (i) in no event shall the aggregate principal amount of the Facility at any time exceed $95,000,000 in the aggregate, and (ii) on the date of any request by the Borrower for an Incremental Term Loan Increase and on the related Increase Date, the applicable conditions set forth in Article III shall be satisfied.

Appears in 2 contracts

Samples: Credit Agreement (Trinity Place Holdings Inc.), Stock Purchase Agreement (Trinity Place Holdings Inc.)

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