Common use of Incremental Loans Clause in Contracts

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments (any such incremental Revolving Credit Commitment, a “New Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the “New Loans”); provided that (1) the total aggregate amount for all such New Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 and (2) the total aggregate amount for each New Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or any Affiliate of any Lender and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan Revolving Credit Commitment (any such Person, a “New Lender”). Any Lender or any New Lender offered or approached to provide all or a portion of any New Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Revolving Credit Commitment. Any New Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 3 contracts

Samples: Credit Agreement (Amerigas Partners Lp), Credit Agreement (Amerigas Partners Lp), Guaranty Agreement (Amerigas Partners Lp)

AutoNDA by SimpleDocs

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments (any such incremental Revolving Credit Commitment, a “New Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the “New Loans”); provided that (1) the total aggregate amount for all such New Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 300,000,000 and (2) the total aggregate amount for each New Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or any Affiliate of any Lender and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan Revolving Credit Commitment (any such Person, a “New Lender”). Any Lender or any New Lender offered or approached to provide all or a portion of any New Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Revolving Credit Commitment. Any New Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 2 contracts

Samples: Credit Agreement (Amerigas Partners Lp), Credit Agreement (Amerigas Partners Lp)

Incremental Loans. (a) At any time prior to the date that is six until thirty (630) months days prior to the Revolving Credit Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Revolving Credit Commitments (any such incremental Revolving Credit Commitment, a an New Loan Incremental Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loansincrease, an “Incremental Revolving Credit Increase” and the loan made thereunder, New Incremental Loans”); provided that (1) the total aggregate amount for all such New Loan Incremental Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 40,000,000 and (2) the total aggregate amount for each New Loan Incremental Revolving Credit Commitment (and the New Incremental Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Incremental Revolving Credit Commitment shall be effective, which shall be a date not less than ten twenty (1020) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan an Incremental Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Loan Incremental Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Incremental Revolving Credit Commitment. Any New Loan Incremental Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Macquarie Infrastructure Corp)

Incremental Loans. (a) At any time prior to during the date that is six (6) months prior to four year period following the Revolving Credit Maturity Closing Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments revolving credit commitments (any such incremental Revolving Credit Commitmentrevolving credit commitment, a an New Incremental Loan Revolving Credit CommitmentCommitments”) to make incremental revolving credit loans (any such incremental revolving credit loans, the an New Incremental Loans”); provided that (1) the total aggregate amount for all such New Incremental Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 50,000,000 and (2) the total aggregate amount for each New Incremental Loan Revolving Credit Commitment (and the New Incremental Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Incremental Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, the Issuing Lender and the Swing Line Lender, to provide a New an Incremental Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Incremental Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Loan Revolving Credit Commitment. Any New Incremental Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Global Power Equipment Group Inc.)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, as applicable, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments revolving credit commitments (any such incremental Revolving Credit Commitmentrevolving credit commitment, a an New Loan Incremental Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the an New LoansIncremental Revolving Credit Loan”); provided that (1) the total aggregate amount for all such New Loan Incremental Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 and (2) the total aggregate amount for each New Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1)100 million. Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Incremental Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan an Incremental Revolving Credit Commitment (any such Person, a “New Lender”). Any Lender or any New Lender offered or approached to provide all or a portion of any New Loan Incremental Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Incremental Revolving Credit Commitment. Any New Loan Incremental Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Atlas Pipeline Partners Lp)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more up to two (2) incremental Revolving Credit Commitments revolving credit commitments (any such incremental Revolving Credit Commitmentrevolving credit commitment, a an New Incremental Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the an New LoansIncremental Loan”); provided that (1) the total aggregate amount for all such New Incremental Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 40,000,000 and (2) the total aggregate amount for each New Incremental Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Incremental Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten thirty (1030) Business Days days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, the Issuing Lenders and the Swingline Lender, to provide a New an Incremental Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Incremental Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Loan Revolving Credit Commitment. Any New Incremental Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Apogee Enterprises Inc)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Datetime, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Revolving Credit Commitments (any such incremental Revolving Credit CommitmentCommitments, a an New Loan Incremental Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loansincrease, an “Incremental Revolving Credit Increase” and, the loans made pursuant to such Incremental Revolving Credit Increase, the “New Incremental Loans”); provided that (1) the total aggregate amount for all such New Loan Incremental Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 75,000,000 and (2) the total aggregate amount for each New Loan Incremental Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Incremental Revolving Credit Commitment shall be effective, which shall be a date not less than ten fifteen (1015) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan an Incremental Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Loan Incremental Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Incremental Revolving Credit Commitment. Any New Loan Incremental Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (UNITED THERAPEUTICS Corp)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, the The Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments new term loans (any such incremental Revolving Credit Commitmenteach, a “New Term Loan Revolving Credit Commitment”) to make incremental or increases of existing Term Loans (each, a “Supplemental Term Loan Commitment”) or new revolving credit loans commitments (each, a “New Revolving Commitment”) (but no more than three tranches at any such incremental time outstanding in the case of revolving credit loanscommitments) or increases of existing Revolving Commitments (each, a “Revolving Commitment Increase”; together with any New Term Loan Commitments, any Supplemental Term Loan Commitments and any Revolving Commitment Increase, the “New LoansLoan Commitments); provided that (1) the total hereunder, in an aggregate amount for all such New Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 and (2) in excess of, at the total aggregate amount for each time the respective New Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if lessCommitments become effective, the remaining amount permitted pursuant to the foregoing clause (1)Maximum Incremental Facility Amount. Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any the New Loan Revolving Credit Commitment Commitments shall be effective, which shall be a date not less than ten (10) 10 Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or any Affiliate of any Lender and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan Revolving Credit Commitment (; provided that any such Person, a “New Lender”). Any Lender or any New Lender offered or approached to provide all or a portion of any New Loan Revolving Credit Commitment Commitments may elect or decline, in its sole discretion, to provide such New Loan Revolving Credit Commitment. Any New Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:Commitments.

Appears in 1 contract

Samples: Credit Agreement (Booz Allen Hamilton Holding Corp)

Incremental Loans. (a) At any time after the Closing Date and prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Revolving Credit Commitments (any such incremental Revolving Credit Commitmentincrease, a an New Loan Incremental Revolving Credit Commitment”) to make incremental revolving credit loans under the Revolving Credit Facility (any such incremental revolving credit loansincrease, the an New LoansIncremental Revolving Credit Increase”); provided that (1) the total aggregate principal amount for all such New Loan Incremental Revolving Credit Commitments during the term of this Agreement shall not (as of any date of incurrence thereof) exceed $150,000,000 300,000,000 and (2) the total aggregate amount for each New Loan Incremental Revolving Credit Commitment (and the New Loans made thereunder) Increase shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Incremental Revolving Credit Commitment Increase shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to the Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan an Incremental Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New proposed Incremental Lender offered or approached to provide all or a portion of any New Loan Incremental Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Incremental Revolving Credit Commitment. Any New Loan Incremental Revolving Credit Commitment Commitments shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Salesforce Com Inc)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Datetime, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Revolving Credit Commitments (any such incremental Revolving Credit Commitmentincrease, a an New Loan Incremental Revolving Credit Commitment”) to make incremental revolving credit loans under the Revolving Credit Facility (any such incremental revolving credit loansincrease, the an New LoansIncremental Loan”); provided that (1) the total aggregate amount for all such New Loan Incremental Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 125,000,000 and (2) the total aggregate amount for each New Loan Incremental Revolving Credit Commitment (and the New Loans Incremental Loan made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Incremental Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan an Incremental Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New proposed Incremental Lender offered or approached to provide all or a portion of any New Loan Incremental Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Incremental Revolving Credit Commitment. Any New Loan Incremental Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Afc Enterprises Inc)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, the U.S. Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments revolving credit commitments (any such incremental Revolving Credit Commitmentrevolving credit commitment, a an New Incremental Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the an New LoansIncremental Loan”); provided that (1) the total aggregate amount for all such New Incremental Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 200,000,000 and (2) the total aggregate amount for each New Incremental Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 20,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the U.S. Borrower proposes that any New Incremental Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten thirty (1030) Business Days days after the date on which such notice is delivered to Administrative Agent. The U.S. Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, the Issuing Lender and the Swingline Lender, to provide a New an Incremental Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Incremental Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Loan Revolving Credit Commitment. Any New Incremental Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Owens Corning)

Incremental Loans. (a) At any time prior to following the date that is six (6) months prior to the Revolving Credit Maturity Closing Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit increases in the Commitments (any such incremental Revolving Credit Commitmentincrease, a an New Loan Revolving Credit CommitmentIncremental Commitment Increase”) to make incremental revolving credit loans under the Revolving Credit Facility (any such incremental revolving credit loansloan, the an New LoansIncremental Loan”); provided that (1) the total aggregate principal amount for all such New Loan Revolving Credit Commitments Incremental Commitment Increases shall not (as of any date of incurrence thereof) exceed $150,000,000 25,000,000 and (2) the total aggregate amount for each New Loan Revolving Credit Incremental Commitment (and the New Loans made thereunder) Increase shall not be less than a minimum principal amount of $25,000,000 10,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Revolving Credit Incremental Commitment Increase shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to approved by the Administrative AgentAgent in its sole discretion, to provide a New Loan Revolving Credit an Incremental Commitment Increase (any such Person, a an New Incremental Lender”). Any Lender or any New proposed Incremental Lender offered or approached to provide all or a portion of any New Loan Revolving Credit Incremental Commitment Increase may elect or decline, in its sole discretion, to provide such New Loan Revolving Credit CommitmentIncremental Commitment Increase. Any New Loan Revolving Credit Incremental Commitment Increase shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (OMNICELL, Inc)

Incremental Loans. (a) At any time prior to during the date that is six (6) months prior to first four year period following the Revolving Credit Maturity Fifth Amendment Closing Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Revolving Credit Commitments (any such incremental Revolving Credit Commitmentincrease, a an New Loan Incremental Revolving Credit Commitment”) to make incremental additional revolving credit loans (any such incremental revolving credit loansincrease, an “Incremental Revolving Credit Increase” or the “New Incremental Loans”); provided that (1i) the total aggregate principal amount for all such New Loan Incremental Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 50,000,000 and (2ii) the total aggregate amount for each New Loan Incremental Revolving Credit Commitment (and the New Incremental Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1i). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Incremental Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan an Incremental Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New proposed Incremental Lender offered or approached to provide all or a portion of any New Loan Incremental Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Incremental Revolving Credit Commitment. Any New Loan Incremental Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (United States Lime & Minerals Inc)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Datetime, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Revolving Credit Commitments (any such increase, an "Incremental Loan Commitment") for the advancing of incremental Revolving Credit Loans under the revolving credit facility described in this Agreement (each such advance of Loans under the Incremental Loan Commitment, a “New Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the “New Loans”an "Incremental Loan"); provided that (1a) the total aggregate principal amount for of all such New Incremental Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 100,000,000.00 and (2b) the total aggregate minimum principal amount for of each New such Incremental Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1)25,000,000.00 or an incremental multiple in excess thereof. Each such notice shall specify the date (each, an "Increased Amount Date") on which the Borrower proposes that any New Incremental Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower shall invite existing Lenders and may invite any Lender and/or any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New an Incremental Loan Revolving Credit Commitment (any such Person, a “New an "Incremental Lender"); provided that both the Swing Loan Lender and the Issuing Lender shall consent to each Incremental Lender providing any portion of an Incremental Loan Commitment (such consents not be unreasonably withheld). Any Lender or any New proposed Incremental Lender offered or approached to provide all or a portion of any New Incremental Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Loan Revolving Credit Commitment. Any New Incremental Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (EPAM Systems, Inc.)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments revolving credit commitments (any such incremental Revolving Credit Commitmentrevolving credit commitment, a an New Incremental Loan Revolving Credit Commitment”) to make incremental revolving credit loans Loans (any such incremental revolving credit loansLoans, the an New LoansIncremental Loan”); provided that (1i) the total aggregate amount for all such New Incremental Loan Revolving Credit Commitments established pursuant hereto shall not (as of any date of incurrence thereof) exceed $150,000,000 150,000,000, (ii) the Borrower shall be permitted to request an Incremental Commitment only once per calendar year and (2iii) the total aggregate amount for each New Incremental Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1i). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Incremental Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten fifteen (1015) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New an Incremental Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Incremental Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Loan Revolving Credit Commitment. Any New Incremental Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Hormel Foods Corp /De/)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Stated Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments (any such incremental Revolving Credit Commitment, a “New Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the “New Loans”); provided that (1) the total aggregate amount for all such New Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 300,000,000 and (2) the total aggregate amount for each New Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or any Affiliate of any Lender and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan Revolving Credit Commitment (any such Person, a “New Lender”). Any Lender or any New Lender offered or approached to provide all or a portion of any New Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Revolving Credit Commitment. Any New Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:: (A) no Default or Event of Default shall exist on such Increased Amount Date before or after giving effect to (1) any New Loan Revolving Credit Commitment, and (2) the making of any New Loans pursuant thereto;

Appears in 1 contract

Samples: Credit Agreement (Ugi Corp /Pa/)

Incremental Loans. (a) At any time prior to the date that is six one (61) months year prior to the Revolving Credit Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments revolving credit commitments (any such incremental Revolving Credit Commitmentrevolving credit commitment, a “New Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the a “New Loans”); provided that (1i) the total aggregate amount for all such New Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 and 75,000,000, (2ii) the total aggregate amount for each New Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1)i) and (iii) no more than three (3) New Loan Commitments shall be permitted during the term of this Agreement. Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan Revolving Credit Commitment (any such Person, a “New Lender”). Any Lender or any New Lender offered or approached to provide all or a portion of any New Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Revolving Credit Commitment. Any New Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided further that:

Appears in 1 contract

Samples: Credit Agreement (Merit Medical Systems Inc)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Datetime, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments (any such incremental Revolving Credit Commitmentincreases in the Commitments, a an New Incremental Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loansincrease, the an New LoansIncremental Loan”); provided that (1) the total aggregate amount for all such New Incremental Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 100,000,000 and (2) the total aggregate amount for each New Incremental Loan Revolving Credit Commitment (and the New Incremental Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000 and increments of $5,000,000 in excess thereof or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Incremental Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New an Incremental Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Incremental Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Loan Revolving Credit Commitment, and any Lender or Incremental Lender which has not responded to such offer within five (5) Business Days after the date such invitation is received shall be deemed to have declined such offer. Any New Incremental Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Stancorp Financial Group Inc)

Incremental Loans. (a) At The Borrower may at any time prior and from time to time after the date that is six (6) months prior to the Revolving Credit Maturity Date, the Borrower may Closing Date by written notice to the Administrative Agent elect (whereupon the Administrative Agent shall make such notice available to each of the Lenders) request the establishment of one or more incremental Revolving Credit Commitments additional new revolving loan tranches (any an “Incremental Loan”) increasing the aggregate amount of the commitments hereunder (each such incremental Revolving Credit Commitmentincrease, a “New Loan Revolving Credit CommitmentCommitment Increase”) to make incremental revolving credit loans (any such incremental revolving credit loans, the “New Loans”); provided that (1) the total in an aggregate amount for all such New Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) to exceed $150,000,000 and 250,000,000 from any existing Lender or an Additional Incremental Lender (2) which Additional Incremental Lender shall become a “Lender” hereunder subject to the total aggregate amount for each New Loan Revolving Credit Commitment (prior consent of the Administrative Agent and the New Loans made thereunder) shall Borrower, such consent not to be less than a minimum principal amount of $25,000,000 orunreasonably withheld, if less, the remaining amount permitted pursuant to the foregoing clause (1conditioned or delayed). Each such written notice shall specify specify: (i) the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Revolving Credit the Commitment Increase shall be effectiveeffective (the “Loan Increase Effective Date”), which shall be a date not less than ten (10) Business Banking Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or any Affiliate of any Lender and/or any other Person reasonably satisfactory to the Administrative Agent, (ii) the amount of such proposed Commitment Increase (which shall not exceed an aggregate of $250,000,000 for all Commitment Increases), and (iii) the identity of each Lender (including each Additional Incremental Lender) to provide a New whom the Borrower proposes each portion of such Commitment Increase and related Incremental Loan Revolving Credit Commitment (be allocated and the amount of each such allocation. No existing Lender will have any such Person, a “New Lender”). Any Lender obligation to accept or make any New Lender offered or approached to provide all or a portion of any New Incremental Loan Revolving Credit or to make any Loan associated with any Commitment may elect or declineIncrease. Each Lender, in its sole discretion, to provide such New Loan Revolving Credit Commitment. Any New Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:may either grant or deny any increase in its respective commitment.

Appears in 1 contract

Samples: Revolving Facility Credit Agreement (Royal Gold Inc)

AutoNDA by SimpleDocs

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Revolving Credit Commitments (any such incremental Revolving Credit Commitmentincrease, a an New Loan Incremental Revolving Credit Commitment”) to make incremental revolving credit loans under the Revolving Credit Facility (any such incremental revolving credit loansincrease, the an New LoansIncremental Revolving Credit Increase”); provided that (1) the total aggregate principal amount for all such New Loan Incremental Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 200,000,000.00; and (2) the total aggregate amount for each New Loan Incremental Revolving Credit Commitment (and the New Loans Incremental Revolving Credit Increase made thereunder) shall not be less than a minimum principal amount of $25,000,000 25,000,000.00 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Incremental Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered given to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan an Incremental Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New proposed Incremental Lender offered or approached to provide all or a portion of any New Loan Incremental Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Incremental Revolving Credit Commitment. Any New Loan Incremental Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Fastenal Co)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Datetime, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments term loan commitments (any such incremental Revolving Credit Commitmentterm loan commitment, a an New Incremental Term Loan Revolving Credit Commitment”) to make incremental revolving credit up to three (3) additional term loans (any such incremental revolving credit loansadditional term loan, the an New LoansIncremental Term Loan”); provided that (1i) the total aggregate principal amount for all such New Incremental Term Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 60,000,000 and (2ii) the total aggregate amount for each New Incremental Term Loan Revolving Credit Commitment (and the New Incremental Term Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1i). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Incremental Term Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New an Incremental Term Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New proposed Incremental Lender offered or approached to provide all or a portion of any New Incremental Term Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Term Loan Revolving Credit Commitment. Any New Incremental Term Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Walker & Dunlop, Inc.)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more up to three (3) incremental Revolving Credit Commitments revolving credit commitments (any such incremental Revolving Credit Commitmentrevolving credit commitment, a an New Incremental Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the an New LoansIncremental Loan”); provided that (1) the total aggregate amount for all such New Incremental Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 50,000,000 and (2) the total aggregate amount for each New Incremental Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Incremental Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten thirty (1030) Business Days days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, the Issuing Lenders and the Swingline Lender, to provide a New an Incremental Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Incremental Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Loan Revolving Credit Commitment. Any New Incremental Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Apogee Enterprises, Inc.)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Datetime, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Revolving Credit Commitments (any such incremental Revolving Credit Commitmentincrease, a an New Incremental Loan Revolving Credit Commitment”) to make incremental revolving credit loans under the Revolving Credit Facility (any such incremental revolving credit loansincrease, the an New LoansIncremental Loan”); provided that (1) the total aggregate principal amount for all such New Incremental Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 and (2) the total aggregate amount for each New Incremental Loan Revolving Credit Commitment (and the New Incremental Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Incremental Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New an Incremental Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New proposed Incremental Lender offered or approached to provide all or a portion of any New Incremental Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Loan Revolving Credit Commitment. Any New Incremental Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Kforce Inc)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Datetime, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Commitments with respect to the Revolving Credit Commitments Loans (any such incremental Revolving Credit Commitmentincrease, a an New Incremental Loan Revolving Credit Commitment”) to make incremental revolving credit loans under the Revolving Credit Facility (any such incremental revolving credit loansincrease, the an New LoansIncremental Loan”); provided that (1) the total aggregate principal amount for all such New Incremental Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 the Incremental Facilities Limit and (2) the total aggregate amount for each New Incremental Loan Revolving Credit Commitment (and the New Incremental Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Incremental Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New an Incremental Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New proposed Incremental Lender offered or approached to provide all or a portion of any New Incremental Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Loan Revolving Credit Commitment. Any New Incremental Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Kforce Inc)

Incremental Loans. (a) At any time after the Effective Date and prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of commitments (any such 36 commitment, an “Incremental Term Loan Commitment”) for one or more incremental Revolving Credit Commitments increases in the aggregate principal amount of the Term Loan (any such incremental Revolving Credit Commitmentincrease, a an New Incremental Term Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the “New LoansIncrease”); provided that (1) the total aggregate principal amount for all such New Incremental Term Loan Revolving Credit Commitments Increases during the term of this Agreement shall not (as of any date of incurrence thereof) exceed $150,000,000 250,000,000 and (2) the total aggregate amount for each New Incremental Term Loan Revolving Credit Commitment (and the New Loans made thereunder) Increase shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Incremental Term Loan Revolving Credit Commitment Increase shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to the Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New an Incremental Term Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New proposed Incremental Lender offered or approached to provide all or a portion of any New Incremental Term Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Term Loan Revolving Credit Commitment. Any New Incremental Term Loan Revolving Credit Commitment Commitments shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Salesforce Com Inc)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Date, the Borrower Company may by written notice to the Administrative Agent and Syndication Agent elect to request (A) prior to the Revolving Commitment Termination Date, an increase to the existing Revolving Loan Commitments (any such increase, the “New Revolving Loan Commitments”) or (B) the establishment of one or more incremental Revolving Credit new Term Loan Commitments (any such incremental Revolving Credit Commitment, a “New Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the “New LoansTerm Loan Commitments”); provided that (1) the total aggregate , in an amount for all such New Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 and (2) the total aggregate amount for each New Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount in excess of $25,000,000 or, if less, in the remaining aggregate and not less than $5,000,000 individually (or such lesser amount permitted pursuant to the foregoing clause (1which shall be approved by Administrative Agent and Syndication Agent). Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower Company proposes that any the New Revolving Loan Revolving Credit Commitment Commitments or the New Term Loan Commitments, as applicable, shall be effective, which shall be a date not less than ten (10) 20 Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Agent and Syndication Agent and (B) the identity of each Lender and/or any Affiliate of any Lender and/or any or other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan Revolving Credit Commitment that is an Eligible Assignee (any such Personeach, a “New Revolving Loan Lender” or “New Term Loan Lender”). Any ) to whom Company proposes any portion of such New Revolving Loan Commitments or the New Term Loan Commitments, as applicable, be allocated and the amounts of such allocations; provided that any Lender or any New Lender offered or approached to provide all or a portion of any the New Revolving Loan Revolving Credit Commitment Commitments or the New Term Loan Commitments, as applicable, may elect or decline, in its sole discretion, to provide such a New Revolving Loan Revolving Credit Commitment or New Term Loan Commitment. Any Such New Revolving Loan Revolving Credit Commitment Commitments or New Term Loan Commitments shall become effective effective, as of such Increased Amount Date; provided that (1) no Default or Event of Default shall exist on such Increased Amount Date before or after giving effect to such New Revolving Loan Commitments or New Term Loan Commitments, as applicable; (2) both before and after giving effect to the making of any Series of New Term Loans, each of the conditions set forth in Section 3.2 shall be satisfied; (3) Company and its Subsidiaries shall be in pro forma compliance with each of the covenants set forth in Section 6.8 as of the last day of the most recently ended Fiscal Quarter after giving effect to such New Revolving Loan Commitments or New Term Loan Commitments, as applicable; (4) the New Revolving Loan Commitments or New Term Loan Commitments shall be effected pursuant to one or more Joinder Agreements executed and delivered by Company, each New Revolving Loan Lender and/or each New Term Loan Lender, Syndication Agent and Administrative Agent, and each of which shall be recorded in the Register and shall be subject to the requirements set forth in Section 2.18(c); (5) Company shall make any payments required pursuant to Section 2.16(c) in connection with the New Revolving Loan Commitments or the New Term Loan Commitments, as applicable; and (6) Company shall deliver or cause to be delivered any legal opinions or other documents reasonably requested by Administrative Agent in connection with any such transaction. Unless such New Term Loans are designated as additional Tranche B Term Loans, any New Term Loans made on an Increased Amount Date shall be designated, a separate series (a “Series”) of New Term Loans for all purposes of this Agreement. On any Increased Amount Date on which New Revolving Loan Commitments are effected, subject to the satisfaction of the foregoing terms and conditions, (a) each of the Revolving Lenders shall assign to each of the New Revolving Loan Lenders, and each of the New Revolving Loan Lenders shall purchase from each of the Revolving Loan Lenders, at the principal amount thereof (together with accrued interest), such interests in the Revolving Loans outstanding on such Increased Amount Date as shall be necessary in order that:, after giving effect to all such assignments and purchases, such Revolving Loans will be held by existing Revolving Loan Lenders and New Revolving Loan Lenders ratably in accordance with their Revolving Loan Commitments after giving effect to the addition of such New Revolving Loan Commitments to the Revolving Loan Commitments, (b) each New Revolving Loan Commitment shall be deemed for all purposes a Revolving Loan Commitment and each Loan made thereunder (a “New Revolving Loan”) shall be deemed, for all purposes, a Revolving Loan and (c) each New Revolving Loan Lender shall become a Lender with respect to the New Revolving Loan Commitment and all matters relating thereto. On any Increased Amount Date on which any New Term Loan Commitments of any Series are effective, subject to the satisfaction of the foregoing terms and conditions, (i) each New Term Loan Lender of any Series shall make a Loan to Company (a “New Term Loan”) in an amount equal to its New Term Loan Commitment of such Series, and (ii) each New Term Loan Lender of any Series shall become a Lender hereunder with respect to the New Term Loan Commitment of such Series and the New Term Loans of such Series made pursuant thereto. Administrative Agent shall notify Lenders promptly upon receipt of Company’s notice of each Increased Amount Date and in respect thereof (y) the New Revolving Loan Commitments and the New Revolving Loan Lenders or the Series of New Term Loan Commitments and the New Term Loan Lenders of such Series, as applicable, and (z) in the case of each notice to any Revolving Loan Lender, the respective interests in such Revolving Loan Lender’s Revolving Loans, in each case subject to the assignments contemplated by this Section. The terms and provisions of the New Term Loans and New Term Loan Commitments of any Series shall be, except as otherwise set forth herein or in the Joinder Agreement, identical to the Tranche B Term Loans. The terms and provisions of the New Revolving Loans shall be identical to the Revolving Loans. In any event (i) the weighted average life to maturity of all New Term Loans of any Series shall be no shorter than the weighted average life to maturity of the Tranche B Term Loans, (ii) the applicable New Term Loan Maturity Date of each Series shall be no shorter than the final maturity of the Term Loan Maturity Date, and (iii) the rate of interest applicable to the New Term Loans of each Series shall be determined by Company and the applicable new Lenders and shall be set forth in each applicable Joinder Agreement; provided however that the interest rate applicable to the New Term Loans shall not be greater than the highest interest rate that may, under any circumstances, be payable with respect to Tranche B Term Loans plus .25% per annum unless the interest rate with respect to the Tranche B Term Loan is increased so as to equal the interest rate applicable to the New Term Loans.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Ipc Acquisition Corp)

Incremental Loans. (a) At any time prior to the date that is six (6) months until 30 days prior to the Revolving Credit Maturity Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Revolving Credit Commitments (any such incremental Revolving Credit Commitment, a an New Loan Incremental Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loansincrease, an “Incremental Revolving Credit Increase” and the loan made thereunder, New Incremental Loans”); provided that (1) the total aggregate amount for all such New Loan Incremental Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 40,000,000 and (2) the total aggregate amount for each New Loan Incremental Revolving Credit Commitment (and the New Incremental Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Incremental Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) 20 Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan an Incremental Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Loan Incremental Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Incremental Revolving Credit Commitment. Any New Loan Incremental Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Macquarie Infrastructure CO LLC)

Incremental Loans. (a) At any time prior to following the date that is six (6) months prior to the Revolving Credit Maturity Closing Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Revolving Credit Commitments (any such incremental Revolving Credit Commitmentincrease, a an New Loan Incremental Revolving Credit Commitment”) to make incremental revolving credit loans under the Revolving Credit Facility (any such incremental revolving credit loans, the “New LoansIncremental Loans ”); provided that (1i) the total aggregate principal amount for all such New Loan Incremental Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 75,000,000 and (2ii) the total aggregate amount for each New Loan Incremental Revolving Credit Commitment (and the New Incremental Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1i). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan Incremental Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) five Business Days after the date on which such notice is delivered to the Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan an Incremental Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New proposed Incremental Lender offered or approached to provide all or a portion of any New Loan Incremental Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Incremental Revolving Credit Commitment. Any New Loan Incremental Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (SolarWinds, Inc.)

Incremental Loans. (aA) At any time prior to the date that is six (6) months prior to the Revolving Credit Loan Maturity Date, the Borrower Borrowers may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increases in the Revolving Credit Commitments Loan Commitment (any such incremental an “Incremental Revolving Credit Commitment, a “New Loan Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loansincrease, an “Incremental Revolving Loan Increase” or the “New Incremental Loans”); provided that (1) the total aggregate amount for all such New Incremental Revolving Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 25,000,000.00, and (2) the total aggregate amount for each New the Incremental Revolving Loan Revolving Credit Commitment (and the New Incremental Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 10,000,000.00 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes Borrowers propose that any New Incremental Revolving Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower Borrowers may invite any Lender and/or Lender, any Affiliate of any Lender and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New an Incremental Revolving Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Incremental Revolving Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Revolving Loan Revolving Credit Commitment. Any New Incremental Revolving Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (KMG Chemicals Inc)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Datetime, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental Revolving Credit Commitments term loan commitments (any such incremental Revolving Credit Commitmentterm loan commitment, a an New Incremental Term Loan Revolving Credit Commitment”) to make an incremental revolving credit loans term loan (any such incremental revolving credit loansterm loan, the an New LoansIncremental Term Loan”); provided that (1) the total aggregate amount for all such New Incremental Term Loan Revolving Credit Commitments shall not (as of any date of incurrence thereof) exceed $150,000,000 and (2) the total aggregate amount for each New Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1)100.0 million. Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Incremental Term Loan Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New an Incremental Term Loan Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Incremental Term Loan Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Incremental Term Loan Revolving Credit Commitment. Any New Incremental Term Loan Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Kronos Worldwide Inc)

Incremental Loans. (a) At any time prior to the date that is six (6) months prior to the Revolving Credit Maturity Dateone time, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more incremental increase in the Revolving Credit Commitments Commitments, (any such incremental Revolving Credit Commitment, a the New Loan Incremental Revolving Credit Commitment”) to make incremental revolving credit loans (any such incremental revolving credit loans, the an New LoansIncremental Loan”); provided that (1) the total aggregate amount for all such New Loan Incremental Revolving Credit Commitments Commitment shall not (as of any date of incurrence thereof) exceed $150,000,000 and (2) the total aggregate amount for each New Loan Revolving Credit Commitment (and the New Loans made thereunder) shall not be less than a minimum principal amount of $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1)25,000,000. Each such The notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any New Loan the Incremental Revolving Credit Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent. The Borrower may invite any Lender and/or Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent, to provide a New Loan Incremental Revolving Credit Commitment (any such Person, a an New Incremental Lender”). Any Lender or any New Incremental Lender offered or approached to provide all or a portion of any New Loan Incremental Revolving Credit Commitment may elect or decline, in its sole discretion, to provide such New Loan Incremental Revolving Credit Commitment. Any New Loan Incremental Revolving Credit Commitment shall become effective as of such Increased Amount Date; provided that:

Appears in 1 contract

Samples: Credit Agreement (Southwest Gas Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.