Incremental Revolving Credit Commitments Sample Clauses

Incremental Revolving Credit Commitments. (a) IBM, IBMCLLC and any one or more Lenders (including New Lenders) may from time to time agree that such Lenders shall provide incremental Revolving Credit Commitments by executing and delivering to the Administrative Agent one or more Incremental Commitment Supplements or, in the case of New Lenders, New Lender Supplements. (b) Any additional bank, financial institution or other entity which is not already a Lender, with the consent of IBM, IBMCLLC and the Administrative Agent (which consent, in the case of the Administrative Agent, shall not be unreasonably withheld), can elect to become a party to this Agreement and obtain a Revolving Credit Commitment; such party shall execute a New Lender Supplement (each, a “New Lender Supplement”) with IBM, IBMCLLC and the Administrative Agent, substantially in the form of Exhibit D-1, whereupon such bank, financial institution or other entity (herein called a “New Lender”) shall become a Lender for all purposes and to the same extent as if originally a party hereto and shall be bound by and entitled to the benefits of this Agreement. (c) Any Lender (other than any New Lender) which agrees to provide an incremental Revolving Credit Commitment pursuant to this Section 11.23 shall execute an Incremental Commitment Supplement (each, an “Incremental Commitment Supplement”) with IBM, IBMCLLC and the Administrative Agent, substantially in the form of Exhibit D-2, whereupon such Lender shall be bound by and entitled to the benefits of this Agreement with respect to the incremental Revolving Credit Commitment specified therein, and Schedule 1.1 shall be deemed to be amended to reflect such incremental Revolving Credit Commitment. (d) If, on the date upon which any Lender (including any New Lender) provides an incremental Revolving Credit Commitment pursuant to this Section 11.23, there is an unpaid principal amount of Revolving Credit Loans, IBM and IBMCLLC shall borrow Revolving Credit Loans from such Lender in an amount determined by reference to the amount of each Type of Revolving Credit Loan (and, in the case of Eurodollar Loans or EURIBOR Loans, of each Eurodollar Tranche or EURIBOR Tranche, respectively) which would then have been outstanding from such Lender if (i) each such Type or Eurodollar Tranche had been borrowed on the date such Lender’s incremental Revolving Credit Commitment was provided, in each case after giving effect thereto and (ii) the aggregate amount of each such Type or Eurodollar Tranche or EURI...

Incremental Revolving Credit Commitments. On any Incremental Increase Date on which Incremental Revolving Credit Commitments are effected, subject to the satisfaction of the foregoing terms and conditions, (i) each of the Revolving Lenders shall assign to each of the Incremental Revolving Lenders, and each of the Incremental Revolving Lenders shall purchase from each of the Revolving Lenders, at the principal amount thereof (together with accrued interest), such interests in the Revolving Loans outstanding on such Incremental Increase 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 Lenders and Incremental Revolving Lenders ratably in accordance with their Revolving Credit Commitments after giving effect to the addition of such Incremental Revolving Credit Commitments to the Revolving Credit Commitments, (ii) each Incremental Revolving Credit Commitment shall be deemed for all purposes a Revolving Credit Commitment and each Loan made thereunder (an “Incremental Revolving Loan”) shall be deemed, for all purposes, a Revolving Loan and (iii) each Incremental Revolving Lender shall become a Lender with respect to the Incremental Revolving Credit Commitments and all matters relating thereto.

Incremental Revolving Credit Commitments. Notwithstanding anything in Section 9.08 to the contrary, and in addition to the Greenshoe Option, this Agreement and the other Loan Documents may be amended at any time, and from time to time, after the Second Amendment Effective Date to increase the aggregate Revolving Credit Commitments under this Agreement (which increase shall be allocated to any of the outstanding Tranches of Revolving Credit Commitments at the discretion of the Borrower), at the discretion of the Borrower, by an agreement in writing entered into by the Borrower, the Administrative Agent, the Collateral Agent and each Person (including any Lender) that shall agree to provide such Revolving Credit Commitments (and each such Person that shall not already be a Lender shall, at the time such agreement becomes effective, become a Lender with the same effect as if it had originally been a Lender under this Agreement with the Revolving Credit Commitments set forth in such agreement); provided that (i) the aggregate amount of Revolving Credit Commitments established pursuant to this paragraph shall not exceed the aggregate amount of Revolving Credit Commitments that have been terminated pursuant to Section 2.11, (ii) no Default or Event of Default shall have occurred and be continuing at the time of such increase, (iii) after giving effect to such increase, the Borrower shall be in compliance on a Pro Forma Basis with the covenants contained in Sections 6.12 and 6.13 recomputed as of the date of the last ended Test Period and (iv) no Revolving Credit Commitments of any Lender shall be increased without the consent of such Lender. The Revolving Credit Commitments established pursuant to this paragraph shall constitute Revolving Credit Commitments under, and shall be entitled to all the benefits afforded by, this Agreement and the other Loan Documents, and shall, without limiting the foregoing, benefit equally and ratably from the Guarantees and security interests created by the Security Documents.”. (xv) Section 2 is amended by adding a new Section 2.23 as follows:

Incremental Revolving Credit Commitments. Section 2.13(a) of the Credit Agreement shall be amended by amending and restating sub-clause (II) of clause (iii) thereof in its entirety to read as follows:

Incremental Revolving Credit Commitments. The Borrower may at any time or from time to time after the Closing Date, by notice to the Administrative Agent (an “Incremental Request”), request one or more increases in the amount of the Revolving Credit Commitments (a “Revolving Commitment Increase” and commitments with respect thereto, the “Incremental Revolving Credit Commitments”), whereupon the Administrative Agent shall promptly deliver a copy to each of the Lenders.

Incremental Revolving Credit Commitments. The Borrower may, at any time prior to the Commitment Termination Date, by written notice to the Administrative Agent (an “Incremental Loan Request”), request (such request to be received by the Administrative Agent ten (10) Business Days before the date on which the Commitment Increase is to take effect or Incremental Revolving Credit Commitments are established, as applicable) (i) that the amount of the Revolving Credit Commitments Amount be increased by an amount of $20,000,000 or an integral multiple of $5,000,000 above such amount (each a “Commitment Increase”) or (ii) the establishment of one or more new revolving credit commitments amount (any such new revolving commitments, collectively with any Commitment Increases, the “Incremental Revolving Credit Commitments”); provided, however, that (i) in no event shall the aggregate amount of the Incremental Revolving Credit Commitments pursuant to this Section 2.14 exceed $100,000,000, (ii) on the proposed increase date, the conditions set forth in Section 4.2(c) and (d) shall be satisfied, both before and after giving effect to such Incremental Revolving Credit Commitments, (iii) the Collateral and Guaranty Requirements shall be satisfied on and as of the date of the Incremental Revolving Credit Commitments, immediately after giving pro forma effect to such increased Commitments and (iv) the terms and conditions applicable to such additional Commitments shall be on substantially the same terms and conditions applicable to the Commitments immediately prior to the Incremental Facility Closing Date.

Incremental Revolving Credit Commitments. Subject to the terms and conditions hereof, each Incremental Revolving Credit Lender agrees to extend Incremental Revolving Credit Commitments to the Borrower in a principal amount equal to the amount set forth next to such Incremental Revolving Credit Lender’s name on Schedule 1.01A hereto on the Amendment No. 4 Effective Date and from time to time thereafter to make the Incremental Revolving Credit Loans in accordance with the terms of the Amended Credit Agreement. Each Incremental Revolving Credit Lender (i) confirms that it has received a copy of the Amended Credit Agreement and the other Loan Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement; (ii) agrees that it will, independently and without reliance upon any Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Amended Credit Agreement; (iii) appoints and authorizes each of the Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the Administrative Agent or the Collateral Agent, as applicable, by the terms thereof, together with such powers as are reasonably incidental thereto; and (iv) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Revolving Credit Lender.

Incremental Revolving Credit Commitments. (a) Each financial institution listed on Schedule A (each a “2022 Incremental Revolving Lender” and collectively, the “2022 Incremental Revolving Lenders”) hereby com- mits to provide a 2022 Incremental Revolving Credit Commitment in Dollars in the amount set forth opposite such 2022 Incremental Revolving Lender’s name in the third column of the chart (b) Pursuant to Section 2.14(d) of the Credit Agreement and subject to the terms and conditions set forth herein, effective as of the Amendment No. 5 Effective Date, for all purposes of the Loan Documents (i) the 2022 Incremental Revolving Credit Commitments shall constitute “Revolving Credit Commitments”, “Incremental Revolving Credit Commitments”, and “Commitments” (ii) any 2022 Incremental Revolving Credit Loans shall constitute “Revolv- ing Credit Loans”, and “Loans”, (iii) each 2022 Incremental Revolving Lender shall constitute an “Additional Lender”, “Revolving Credit Lender” and “Lender” and shall have all the rights and obligations of a Lender holding a Revolving Credit Commitment, (iv) the 2022 Incremental Revolving Credit Commitments, any 2022 Incremental Revolving Credit Loans and any other Obligations arising thereunder shall constitute “Priority Payment Obligations” and (v) other re- lated terms will have correlative meanings mutatis mutandis.

Incremental Revolving Credit Commitments. (a) Immediately after giving effect to the Replacement Revolving Commitments in accordance with Section 3 above, subject to the satisfaction or waiver in writing of each condition precedent set forth in Section 5 hereof, and in reliance on the representations, warranties, covenants and agreements contained in this Replacement and Increase Amendment, each Incremental Revolving Lender hereby agrees to provide its respective Incremental Revolving Credit Commitments to the Borrower in a principal amount not to exceed the amount set forth opposite such Incremental Revolving Lender’s name in Schedule B attached hereto. The Administrative Agent has notified each Incremental Revolving Lender of its allocated Incremental Revolving Credit Commitment, and each Incremental Revolving Lender is a signatory to this Replacement and Increase Amendment.