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.
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. 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. 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. (a) The Specified U.S. Borrower may, by written notice to the Administrative Agent (signed by a Responsible Officer of the Specified U.S. Borrower) from time to time after the Effective Date, request Incremental Revolving Credit Commitments in an aggregate amount not to exceed $50,000,000 (or such higher amount as is approved by the Required Lenders) from one or more Incremental Revolving Credit Lenders (which may include any existing Lender) willing to provide such Incremental Revolving Credit Commitments in their own discretion; provided that each Incremental Revolving Credit Lender shall be subject to the approval of the Administrative Agent and the Issuing Bank (which approvals shall not be unreasonably withheld) unless such Incremental Revolving Credit Lender is a Lender, an Affiliate of a Lender or an Approved Fund. Such notice shall set forth (i) the amount of the Incremental Revolving Credit Commitments being requested, (ii) whether the request is for U.S. Revolving Credit Commitments or Canadian Revolving Commitments and (iii) the date on which such Incremental Revolving Credit Commitments are requested to become effective.
Incremental Revolving Credit Commitments. (a) Provided there exists no Default, upon notice to the Administrative Agent the Borrower shall have the right to request, on one or more occasions prior to the Revolving Credit Termination Date, an increase in the Revolving Credit Facility in accordance with this Section 2.17 (the amount of any such increase, the “Incremental Revolving Credit Commitment”). The aggregate amount of all Incremental Revolving Credit Commitments shall not exceed $22,500,000. Any request for an Incremental Revolving Credit Commitment shall be in a minimum amount of $5,000,000.
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. (a) On the Increase Effective Date (as defined below), this Incremental Facility Amendment shall constitute an increase in the Revolving Credit Commitments of the Lenders pursuant to Section 2.20 of the Credit Agreement, the Incremental Commitments shall constitute additional “Revolving Credit Commitments” and any loans made pursuant to the Incremental Commitments shall constitute “Revolving Loans” and “Loans” under the Credit Agreement.
Incremental Revolving Credit Commitments. (a) The Borrower may, by written notice to the Administrative Agent from time to time, request Incremental Revolving Credit Commitments (which shall be in minimum increments of $1,000,000 and a minimum amount of $1,000,000 or equal to the remaining amount available), as applicable, in an aggregate amount not to exceed $15,000,000 from one or more Cerberus Revolving Lenders willing to provide such Incremental Revolving Credit Commitments in their own discretion. Such notice shall set forth (i) the amount of the Incremental Revolving Credit Commitments being requested and (ii) the date on which such Incremental Revolving Credit Commitments are requested to become effective (the “Increased Amount Date”).
Incremental Revolving Credit Commitments. (i) Each Incremental Revolving Credit Lender hereby agrees, severally and not jointly, to provide an Incremental Revolving Credit Commitment to the Borrower, effective as of the Incremental Amendment Effective Date, in dollars in an aggregate principal amount equal to the amount set forth opposite such Incremental Revolving Credit Lender’s name on Schedule I attached hereto (each, an “Incremental Revolving Credit Commitment” and, collectively, the “Incremental Revolving Credit Commitments”), on the terms set forth herein and in the Credit Agreement (as amended hereby), and subject to the conditions set forth herein. The Incremental Revolving Credit Commitments shall be deemed to be “Commitments” (as defined in the Credit Agreement (as amended hereby)) for all purposes of the Loan Documents having terms and provisions identical to those applicable to the Commitments outstanding immediately prior to the Incremental Amendment Effective Date (the “Existing Revolving Credit Commitments”).
