Incremental Joinder Sample Clauses
The Incremental Joinder clause allows additional parties to join an existing agreement after its initial execution. This is typically accomplished by having new parties sign a joinder agreement or similar document, which binds them to the terms of the original contract without requiring renegotiation by all existing parties. The core practical function of this clause is to streamline the process of expanding the agreement’s scope to include new participants, thereby ensuring flexibility and administrative efficiency as circumstances change.
Incremental Joinder. Subject to the satisfaction of the conditions set forth in Section 4 below (provided that the Incremental Borrowing and the application of proceeds of the Tranche B-1 Term Loans shall be deemed to occur immediately prior to the Amendments):
(a) Each of the Tranche B-1 Term Loan Lenders agrees (i) that it shall be considered a Lender for all purposes under the Credit Agreement and the other Credit Documents and agrees to be bound by the terms thereof and (ii) to make Tranche B-1 Term Loans to the Borrower on the Effective Date in an aggregate principal amount equal to the amount indicated on such Tranche B-1 Term Loan Lender’s signature page hereto as its Tranche B-1 Term Loan Commitment (or such lesser amount allocated to such Tranche B-1 Term Loan Lender by the Agent, as notified to such Tranche B-1 Term Loan Lender by the Agent). The aggregate principal amount of the Tranche B-1 Term Loans made under this Agreement on the Effective Date shall be $3,218,000,000. The Borrower shall use the proceeds of the Tranche B-1 Term Loans as set forth in the recitals to this Agreement. After giving effect to the application of the proceeds of the Tranche B-1 Term Loans, no Tranche B Term Loans shall remain outstanding.
(b) All references in the Credit Agreement and the other Credit Documents to “Tranche B Term Loans”, “Tranche B Term Loan Lenders”, “Tranche B Term Loan Maturity Date” and “Required Tranche B Term Loan Lenders” shall be replaced with “Tranche B-1 Term Loans”, “Tranche B-1 Term Loan Lenders”, “Tranche B-1 Term Loan Maturity Date” and “Required Tranche B-1 Term Loan Lenders”, respectively. In addition, all references in the Credit Agreement and the other Credit Documents to “Tranche B Term Loan Commitments” (other than those references in the defined term “Tranche B Term Loan Commitments” in the Credit Agreement, Section 2.1(a) of the Credit Agreement and Section 4.3(a) of the Credit Agreement) shall be replaced with “Tranche B-1 Term Loan Commitments”.
Incremental Joinder. Incremental Commitments shall become Commitments under this Agreement pursuant to an amendment (an “Incremental Joinder”) to this Agreement and, as appropriate, the other Loan Documents, executed by the Borrowers, each Incremental Lender providing such Commitments and the Administrative Agent. The Incremental Joinder may, without the consent of any other Loan Party or Lender, 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 2.14 and that do not adversely affect the Lenders subject thereto. No Lender shall be obligated to provide any Incremental Commitment, unless it so agrees.
Incremental Joinder. Subject to the terms and conditions set forth herein, each Series A New Term Loan Lender severally agrees to make Series A New Term Loans to the Borrower on up to four occasions during the Series A Commitment Period (as defined below) in an aggregate principal amount not to exceed such Series A New Term Loan Lender’s Series A New Term Loan Commitment as set forth in Schedule A. Each Series A New Term Loan Lender’s Series A New Term Loan Commitment shall commence on the Joinder Effective Date (as defined below) and shall terminate immediately and without further action on January 1, 2017 (the “Series A Commitment Termination Date” and such period, the “Series A Commitment Period”). Pursuant to Section 2.23 of the Credit Agreement, the Series A New Term Loans shall constitute a separate Series of Term Loans and shall have the following terms:
Incremental Joinder. The Successor Administrative Agent shall have received duly executed counterparts of the Incremental Joinder (as defined in the Amended and Restated Credit Agreement) that, when taken together, bears the signatures of (i) the Company, (ii) the Designated Borrowers, (iii) each Revolving Lender party thereto, (iv) each of the Incremental Term Loan Lenders party thereto, and (v) the Successor Administrative Agent.
Incremental Joinder. The Incremental Commitments shall be effected by a joinder agreement (the “Incremental Joinder”) executed by the Borrower, the Administrative Agent and each Lender making such Incremental Commitment, in form and substance reasonably satisfactory to each of them. Notwithstanding the provisions of Section 10.01, the Incremental 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 reasonable opinion of the Administrative Agent, to effect the provisions of this Section 2.14. In addition, unless otherwise specifically provided herein, all references in Loan Documents to Loans shall be deemed, unless the context otherwise requires, to include references to Incremental Loans made pursuant to this Agreement. This Section 2.14 shall supersede any provisions in Section 2.13 or Section 10.01 to the contrary.