Incremental Loan Sample Clauses
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Incremental Loan. (a) Subject to the terms and conditions set forth herein and in the Credit Agreement (as amended by this Amendment), the Incremental Lender agrees to make the Incremental Loan to the Borrower in a single drawing on the First Amendment Effective Date (the commitment of the Incremental Lender to make such Incremental Loan being called its “Incremental Commitment”). Amounts repaid in respect of the Incremental Loan may not be reborrowed.
(b) The terms of the Incremental Loan shall be identical to the terms of the Term Loans made on the Closing Date and outstanding immediately prior to the effectiveness of this Amendment (such Term Loans, being referred to herein as the “Existing Loans”), except as such terms shall have been modified hereby.
(c) Subject to the terms and conditions set forth herein and effective as of the First Amendment Effective Date, for all purposes of the Credit Documents, (i) the Incremental Loan made hereunder shall constitute an increase in the aggregate amount of the Existing Loans incurred, (ii) the Incremental Loan made hereunder shall be a “Borrowing” and “Term Loan” under the Credit Agreement and shall constitute a Borrowing of the same Type as the Existing Loans, and (iii) the Incremental Lender shall be a “Lender” under the Credit Agreement, shall be a party to the Credit Agreement as a Lender and shall have all the rights and obligations of, and benefits accruing to, a Lender under the Credit Agreement and shall be bound by all agreements, acknowledgements and other obligations of the Lenders. Without limiting the foregoing, the Incremental Loan made hereunder shall mature on the Maturity Date, shall participate in any mandatory or voluntary prepayments on a pro rata basis with the Existing Loans and shall bear interest at the rate specified in the Credit Agreement, as applicable to the Existing Loans. Each reference to the Credit Agreement in this paragraph (c) shall be deemed to be a reference to the Credit Agreement as amended by this Amendment.
(d) The Incremental Lender (i) represents and warrants that it is legally authorized to enter into this Amendment, (ii) confirms that it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 5.01 thereof, as applicable, and has reviewed such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment, (iii) agrees that it will, in...
Incremental Loan. The Borrower may request an additional Commitment for the making of one additional Loan under this Agreement following the Closing Date upon not less than 10 Business Days’ notice to the Administrative Agent (or such lesser period of time permitted by the Administrative Agent), so long as (a) the requested additional Commitment is not more than $14,893,617.00, (b) the Insurance Policy limit has increased by at least such requested Commitment amount (less any agreed retention) and is offered on the same terms as the Loans made on the Closing Date, except as otherwise agreed by the Lenders, (c) the Borrower does not permit Liquidity to be less than the Interest Escrow Required Amount, calculated on a pro forma basis immediately after giving effect to each of (i) the establishment of such additional Commitment and (ii) the incurrence of such additional Loan (using Liquidity calculated as of the date of such establishment and/or incurrence (as applicable) and immediately after giving effect thereto, and the Interest Escrow Required Amount equal to the aggregate amount of the four (4) immediately following interest payments owed on the Loans) and (d) unless otherwise agreed by the Lenders, the Borrower shall use the proceeds of any such additional Loans solely for general corporate purposes. The Administrative Agent shall promptly notify the Lenders of the requested additional Commitment and, within ten (10) Business Days thereafter (or such other period agreed by the Administrative Agent and the Borrower), each Lender shall notify the Administrative Agent if and to what extent such Lender agrees to provide such additional Commitment. Any Lender not accepting in writing within such period shall be deemed to have declined to provide the requested additional Commitment. The Administrative Agent and the Borrower may allocate, in their discretion, any additional Commitments among committing existing Lenders. Any additional Commitment established pursuant to this Section 2.06 shall be established at the requested amount (or such lesser amount committed by existing Lenders and agreed by the Borrower) on the date requested by the Borrower and agreed upon by the Administrative Agent and the Lenders providing such incremental Commitment, provided the conditions set forth in Section 7.01 are satisfied at such time. The Administrative Agent, the Borrower, and the existing Lenders shall execute and deliver such documents and agreements as the Administrative Agent deems app...
Incremental Loan. Borrower has requested that Lender temporarily increase the principal amount of the Loan and the Lender has agreed to temporarily increase the principal amount of the Loan upon the terms and conditions as set forth herein (such increase, the “Incremental Facility” and the loan made pursuant to such Incremental Facility, the “Incremental Loan”) in an aggregate principal amount not to exceed $12,500,000. Such Incremental Loan shall be due and payable in full on the Incremental Loan Termination Date; provided that Borrower may voluntarily prepay amounts due under the Incremental Loan prior to the Incremental Loan Termination Date without penalty. Subject to the foregoing limitations, and the other terms and provisions of this Agreement, Borrower may not repay and reborrow amounts under the Incremental Loan. Upon the Incremental Loan Termination Date, at Lender’s request, Borrower shall execute an amended and restated note reflecting a Commitment of $30,000,000.
Incremental Loan. The obligations of the Lenders to make any Incremental Loans hereunder shall (x) not become effective until the date on which each of the conditions set forth in Section 6.01 and Section 6.02 are satisfied (or waived in accordance with Section 12.02) and (y) be subject to and conditioned upon each of the following conditions (or waiver thereof in accordance with Section 12.02) at the time of any such Incremental Loan:
(a) Administrative Agent shall have received Schedule 1.02D, the schedule of ▇▇▇▇▇▇▇ Facility Material Permits required for the ▇▇▇▇▇▇▇ Facility, together with (A) copies of each such ▇▇▇▇▇▇▇ Facility Material Permit listed on Part I of Schedule 1.02, each of which is in full force and effect and not subject to unsatisfied condition or, to the Borrower’s knowledge, appeal and (B) a certificate, signed by a Responsible Officer of the Borrower, stating that, (w) the ▇▇▇▇▇▇▇ Facility Material Permits as set forth on Part I of Schedule 1.02 constitute all of the ▇▇▇▇▇▇▇ Facility Material Permits which are, in such Responsible Officer’s opinion, in light of the status of the ▇▇▇▇▇▇▇ Facility as of the date thereof, required to have been obtained pursuant to applicable Governmental Requirements as of such date, (x) Part II of Schedule 1.02 lists all other ▇▇▇▇▇▇▇ Facility Material Permits required for the construction, development, use, operation, ownership, or maintenance and the performance of the ▇▇▇▇▇▇▇ Facility after the date thereof as contemplated as of the date thereof, and (y) the ▇▇▇▇▇▇▇ Facility Material Permits listed in Part II of Schedule 1.02 are, in such Responsible Officer’s opinion, in light of the status of the ▇▇▇▇▇▇▇ Facility as of the date thereof, obtainable not later than required by the applicable Governmental Authority without substantial difficulty, expense or delay and in a manner to allow the performance of the transactions contemplated thereby to proceed in accordance with the Capital Expenditure Plan and (z) the ▇▇▇▇▇▇▇ Facility Material Permits are not subject to any significant or material restriction, condition, limitation or pending written claims which could reasonably be expected to result in a Material Adverse Effect;
(b) With respect to any of the ▇▇▇▇▇▇▇ Facility Material Permits not yet required as of the date of such Borrowing and listed in Part II of Schedule 1.02, the Borrower, in its reasonable determination, has no reasonable basis to believe that any such ▇▇▇▇▇▇▇ Facility Material Permits will not be o...
Incremental Loan. (a) Subject to the terms and conditions set forth herein and in the Credit Agreement, the Incremental Lenders agree to make the Second Amendment Effective Date Incremental Loan to the Borrower in a single drawing on the Second Amendment Effective Date (the commitment of each Incremental Lender to make such Second Amendment Effective Date Incremental Loan being called its “Incremental Commitment”). Amounts repaid in respect of the Second Amendment Effective Date Incremental Loan may not be reborrowed.
(b) The terms of the Second Amendment Effective Date Incremental Loan shall be identical to the terms of the Existing Term Loans, except as otherwise set forth herein with respect to the initial making of the Second Amendment Effective Date Incremental Loan.
(c) Subject to the terms and conditions set forth herein and effective as of the Second Amendment Effective Date, for all purposes of the Credit Documents, (i) the Second Amendment Effective Date Incremental Loan made hereunder shall constitute an increase in the aggregate amount of the Term Loans outstanding immediately prior to the effectiveness of this Amendment, (ii) the Second Amendment Effective Date Incremental Loan made hereunder shall be a “Borrowing” and “Term Loan” under the Credit Agreement and shall constitute a Borrowing of the same Type as the Existing Term Loans, and (iii) JPMorgan shall be a “Lender” under the Credit Agreement, shall be a party to the Credit Agreement as a Lender and shall have all the rights and obligations of, and benefits accruing to, a Lender under the Credit Agreement and shall be bound by all agreements, acknowledgements and other obligations of the Lenders. Without limiting the foregoing, the Second Amendment Effective Date Incremental Loan made hereunder shall mature on the Maturity Date, shall participate in any mandatory or voluntary prepayments on a pro rata basis with the Existing Term Loans and shall bear interest at the rate specified in the Credit Agreement, as applicable to the Existing Term Loans.
(d) JPMorgan (i) represents and warrants that it is legally authorized to enter into this Amendment, (ii) confirms that it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 5.01 thereof, as applicable, and has reviewed such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment, (iii) agrees that it ...
Incremental Loan. The following new Section 2.8 is hereby inserted into the Loan Agreement as follows:
Incremental Loan. The Loan requested pursuant to this Borrowing Notice shall be made on(b) ______________, 20__ [the date inserted must be a Banking Day and [the same or earlier Banking Day as]3 [at least three (3) Banking Days prior to]4 the date hereof].
Incremental Loan. The Company will apply the proceeds of any Incremental Loan to finance acquisitions permitted hereby, to refinance Indebtedness and for any working capital and other lawful corporate purposes of the Company and its Subsidiaries, including Capital Expenditures."
2.15. Addition of Section 2.6. Section 2 of the Credit Agreement is amended by adding immediately following Section 2.5 new Section 2.6 to read in its entirety as follows:
Incremental Loan. Section 2.01 is hereby amended by renumbering the text thereof to be subsection (a) and adding the following new subsection (b):
Incremental Loan. Section 1.9 (Incremental Loan) of the Loan Agreement hereby is deleted in its entirety.