Increase Joinder. The Incremental Commitments shall be effected by a joinder agreement (the “Increase Joinder”) executed by the Borrowers, the Administrative Agent and each Lender making such Incremental Commitment, in form attached hereto or otherwise in form and substance satisfactory to each of them. The Increase Joinder may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.15. On any Increase Effective Date on which the Commitments are increased by Incremental Facility, the participations held by the Lenders in the Protective Advance Exposure and the L/C Obligations immediately prior to such increase will be reallocated so as to be held by the Lenders ratably in accordance with their respective Applicable Percentages after giving effect to such increase. If, on any Increase Effective Date, there are any Loans outstanding, the Borrowers shall prepay such Loans in accordance with this Agreement on such date to the extent necessary to effect such reallocation (but the Borrowers may finance such prepayment with a concurrent borrowing of Loans from the Lenders in accordance with their Applicable Percentages after giving effect to the Incremental Facility effected on such date).
Appears in 3 contracts
Sources: Abl Credit Agreement (MKS Instruments Inc), Abl Credit Agreement (MKS Instruments Inc), Abl Credit Agreement (MKS Instruments Inc)
Increase Joinder. A. This Increase Joinder is an “instrument of joinder” referenced in Section 2.22(c)(i) of the Credit Agreement. The Incremental Commitments shall be effected by a joinder agreement (the “Increase Joinder”) executed by the BorrowersBorrower, the Administrative Agent and each Lender making the Incremental Lenders hereby agree that the Incremental Commitments shall become effective upon the satisfaction of the conditions set forth in Section 2 hereof (the date on which such conditions are satisfied, the “Increase Amount Date”).
B. The Borrower, the Administrative Agent and the Incremental CommitmentLenders hereby agree that the Incremental Commitments and Revolving Loans made with respect thereto shall have terms identical to those of the existing Revolving Commitments and the existing Revolving Loans (other than with respect to upfront fee pricing). After giving effect hereto on the Increase Amount Date, the Incremental Commitments shall be deemed to be Revolving Commitments and the Revolving Commitments shall be deemed increased by the amount of the Incremental Facility. Each Incremental Lender’s Incremental Commitment shall be in form attached hereto or otherwise in form and substance satisfactory to each of themthe amount set forth on Schedule A hereto. The Increase Joinder may, without Revolving Commitments of the consent existing Lenders and the Incremental Lenders shall be adjusted as provided in Section 2.22(c) of any other Lenders, effect such amendments to this the Credit Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.15. On any Increase Effective Date further provided on which the Commitments are increased by Incremental Facility, the participations held by the Lenders in the Protective Advance Exposure and the L/C Obligations immediately prior to such increase will be reallocated so as to be held by the Lenders ratably in accordance with their respective Applicable Percentages after giving effect to such increase. If, on any Increase Effective Date, there are any Loans outstanding, the Borrowers shall prepay such Loans in accordance with this Agreement on such date to the extent necessary to effect such reallocation (but the Borrowers may finance such prepayment with a concurrent borrowing of Loans from the Lenders in accordance with their Applicable Percentages after giving effect to the Incremental Facility effected on such date)Schedule A hereto.
Appears in 2 contracts
Sources: Increase Joinder (Landmark Infrastructure Partners LP), Increase Joinder (Landmark Infrastructure Partners LP)
Increase Joinder. The Incremental Commitments shall be effected by A. This Increase Joinder is a “joinder agreement (agreement” referenced in Section 2.20(a) of the “Increase Joinder”) executed by the BorrowersCredit Agreement. Borrower, the Administrative Agent and each Lender making the Incremental Lenders hereby agree that the Incremental Commitments shall become effective upon the satisfaction of the conditions set forth in Section 2 hereof (the date on which such conditions are satisfied, the “Increase Amount Date”).
B. Borrower, the Administrative Agent and the Incremental CommitmentLenders hereby agree that the Incremental Commitments and Revolving Facility Loans made with respect thereto shall have terms identical to those of the existing Revolving Facility Commitments and the existing Revolving Facility Loans (other than with respect to upfront fee pricing). After giving effect hereto on the Increase Amount Date, the Incremental Commitments shall be deemed to be Revolving Facility Commitments and the Revolving Facility Commitments shall be deemed increased by the amount of the Incremental Facility. Each Incremental Lender’s Incremental Commitment shall be in form attached hereto or otherwise in form and substance satisfactory to each of themthe amount set forth on Schedule A hereto. The Increase Joinder may, without Revolving Facility Commitments of the consent existing Revolving Facility Lenders and the Incremental Lenders shall be adjusted as provided in Section 2.20(b) of any other Lenders, effect such amendments to this the Credit Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.15. On any Increase Effective Date further provided on which the Commitments are increased by Incremental Facility, the participations held by the Lenders in the Protective Advance Exposure and the L/C Obligations immediately prior to such increase will be reallocated so as to be held by the Lenders ratably in accordance with their respective Applicable Percentages after Schedule A hereto.
C. After giving effect to such increase. If, hereto on any the Increase Effective Amount Date, there are any Loans outstanding, shall be $0 of further capacity to effectuate Incremental Commitments pursuant to Section 2.20(a) of the Borrowers shall prepay such Loans in accordance with this Agreement on such date to the extent necessary to effect such reallocation (but the Borrowers may finance such prepayment with a concurrent borrowing of Loans from the Lenders in accordance with their Applicable Percentages after giving effect to the Incremental Facility effected on such date)Credit Agreement.
Appears in 2 contracts
Sources: Increase Joinder (Summit Midstream Partners, LP), Increase Joinder