Incremental Effective Date Sample Clauses
The Incremental Effective Date clause defines the specific date on which additional commitments, loans, or credit facilities under an agreement become effective. In practice, this clause is triggered when parties agree to increase the total available credit or add new lenders, and it sets the timeline for when these incremental amounts are accessible. Its core function is to provide clarity and certainty regarding the activation of expanded financial arrangements, ensuring all parties know exactly when new obligations and rights commence.
Incremental Effective Date. Commitments in respect of any Incremental Facility shall become Commitments (or in the case of an Incremental Revolving Increase to be provided by an existing Lender with a Revolving Commitment, an increase in such Lender’s applicable Revolving Commitment) under this Agreement pursuant to a joinder agreement to this Agreement (the “Incremental Joinder Agreement”) and, as appropriate, the other Loan Documents, executed by the Borrowers, the Administrative Agent (such consent not to be unreasonably withheld or delayed), each Incremental Lender making or providing such Commitment and, in the case of an Incremental Revolving Commitment Increase, each L/C Issuer (such consent not to be unreasonably withheld or delayed), reasonably satisfactory to each of them (including, without limitation, such technical amendments as may be necessary or advisable, in the reasonable opinion of the Administrative Agent and the Borrowers, to give effect to the terms and provisions of any Incremental Facilities (and any Loans made in respect thereof)), subject, however, to the satisfaction of the conditions precedent set forth in this Section 2.13. The Incremental Joinder Agreement 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 reasonable opinion of the Administrative Agent and the Borrowers, to effect the provisions of this Section 2.13 (including in connection with an Incremental Revolving Increase, to reallocate the Outstanding Amount of Revolving Loans and L/C Obligations on a pro rata basis among the relevant Revolving Lenders). If the Incremental Facilities are provided in accordance with this Section 2.13, the Borrowers shall determine the effective date and the final allocation of such Incremental Facilities. The effectiveness of any Incremental Joinder Agreement and the occurrence of any credit event pursuant to such Incremental Joinder Agreement shall be subject to the satisfaction of the following conditions precedent:
(i) the conditions set forth in Section 4.02(b) shall be satisfied with respect to the effectiveness of the applicable Incremental Facility;
(ii) all fees required to be paid in connection therewith at the time of such effectiveness shall have been paid;
(iii) the Borrowers shall deliver or cause to be delivered any legal opinions reasonably requested by the Administrative Agent relating to the matters described above covering matters similar ...
Incremental Effective Date. The Administrative Agent and the Borrower shall determine the effective date for each Incremental Term Loan pursuant to this Section 2.27 (an “Incremental Effective Date”) and, if applicable, the final allocation of such Incremental Term Loan among the Persons providing it, which date shall be a Business Day at least 10 Business Days after delivery of the request pursuant to Section 2.27(a) (unless otherwise approved by the Administrative Agent) and at least 30 days before the Facility Termination Date.
Incremental Effective Date. The Lender and the Borrower shall determine the effective date for each Incremental Revolving Commitment pursuant to this Section 2.17 (an “Incremental Effective Date”), which date shall be a Business Day at least 10 Business Days after delivery of the request pursuant to Section 2.16(a) (unless otherwise approved by the Lender) and at least 30 days before the then applicable Facility Termination Date.
Incremental Effective Date. The Administrative Agent shall have received (i) the fees required to be paid under any written agreements with the Tranche 1 Incremental Term Lenders and (ii) all expenses required to be paid by the Borrower in connection with this Agreement, in each case on or before the Tranche 1 Incremental Effective Date, in each case which amounts may be offset against the proceeds of the Tranche 1
Incremental Effective Date. The Incremental Effective Date shall have occurred on or prior to September 30, 2021. For purposes of determining compliance with the conditions specified in this Section 3, the Incremental Revolving Lenders shall be deemed to have consented to, approved or accepted or to be satisfied with each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to the Incremental Revolving Lenders, unless an officer of the Administrative Agent responsible for the transactions contemplated by this Agreement shall have received notice from the Incremental Revolving Lenders prior to the Incremental Effective Date specifying its objection thereto.
Incremental Effective Date. The Administrative Agent and the Borrowers shall determine the effective date for each Incremental Commitment pursuant to this Section 2.27 (an “Incremental Effective Date”) and, if applicable, the final allocation of such Incremental Commitment among the Persons providing it, which date shall be a Business Day at least 10 Business Days after delivery of the request pursuant to Section 2.27(a) (unless otherwise approved by the Administrative Agent) and at least 30 days before the Facility Termination Date.
Incremental Effective Date. Subject in all respects to the Funding Conditions Provisions, the obligations of the 2022 Incremental Term Lenders to make their respective 2022 Incremental Term Commitments and 2022 Incremental Term Advances as provided in Section 3 hereof shall become effective on and as of the date when, and only when, the following conditions have been satisfied, or waived (by all 2022 Incremental Term Lenders) (the “2022 Incremental Effective Date”):
Incremental Effective Date. This Amendment shall not constitute an amendment or waiver of or consent to any provision of the Term Loan Agreement except as expressly stated herein and shall not be construed as an amendment, waiver or consent to any action on the part of the Borrower that would require an amendment, waiver or consent of the Administrative Agent or the Lenders except as expressly stated herein. After the Tranche B-2 Incremental Effective Date, any reference to the Term Loan Agreement shall mean the Term Loan Agreement as modified hereby. This Amendment shall constitute an “Incremental Facility Agreement”, the Tranche B-2 Lenders shall constitute “Lenders”, this Amendment and the Reaffirmation Agreement shall constitute “Loan Documents”, the Tranche B-2 Loans shall constitute “Loans” and the Tranche B-2 Commitments shall constitute “Incremental Commitments”, in each case for all purposes of the Term Loan Agreement and the other Loan Documents. Except as expressly amended hereby, the provisions of the Term Loan Agreement are and shall remain in full force and effect in accordance with their terms. The provisions of the other Loan Documents are and shall remain in full force and effect in accordance with their terms.
Incremental Effective Date. The Incremental Commitments shall be effected by a joinder agreement to this Agreement (the “Incremental Joinder Agreement”) executed by Borrower, Administrative Agent and each Lender making or providing such Incremental Commitment, in form and substance reasonably satisfactory to each of them, subject, however, to the satisfaction of the conditions precedent set forth in this Section 2.12. The Incremental Joinder Agreement may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Credit Documents as may be necessary or appropriate, in the opinion of Administrative Agent, to effect the provisions of this