Incremental Term Lenders Sample Clauses
The Incremental Term Lenders clause defines the rights and obligations of lenders who provide additional term loans under an existing credit agreement. It typically outlines the process by which new or existing lenders can commit to fund incremental loans, the terms that will apply to these loans, and any conditions or approvals required for such increases. For example, it may specify that incremental lenders must agree to the same or similar terms as the original lenders and detail how their commitments are documented. This clause facilitates the borrower’s ability to access additional financing under the same agreement, providing flexibility for future funding needs without renegotiating the entire facility.
Incremental Term Lenders. The Company shall be entitled to elect, in its own discretion, Incremental Term Lenders from among the existing Lenders and any additional banks, financial institutions and other institutional lenders or investors, subject to the consent of (i) such proposed Incremental Term Lender and (ii) the Administrative Agent (which consent shall not be unreasonably withheld), if such consent would be required under Section 10.06(b)(iii), for an assignment of loans or commitments, as applicable, to such Incremental Term Lender.
Incremental Term Lenders. Incremental Term Loans may be made by any existing Lender (but no existing Lender will have an obligation to make any Incremental Term Commitment (or Incremental Term Loan), nor will the Borrower have any obligation to approach any existing Lenders to provide any Incremental Term Commitment (or Incremental Term Loan)) or by any Additional Lender (each such existing Lender or Additional Lender providing such Loan or Commitment, an “Incremental Term Lender”); provided that (i) the Administrative Agent shall have consented to such Additional Lender’s making such Incremental Term Loans to the extent such consent, if any, would be required under Section 10.07(b) for an assignment of Loans to such Additional Lender and (ii) with respect to Incremental Term Commitments, any Affiliated Lender providing an Incremental Term Commitment shall be subject to the same restrictions set forth in Section 10.07(h) as they would otherwise be subject to with respect to any purchase by or assignment to such Affiliated Lender of Term Loans.
Incremental Term Lenders. Each New Incremental Term Lender party hereto hereby acknowledges and agrees that it will have, immediately upon the Amendment No. 2 Effective Time and without further action by any Person, an Incremental Term Commitment in the amount set forth opposite such New Incremental Term Lender’s name on Annex I to this Amendment and agrees to severally make to the Borrower Incremental Term Loans on the Amendment No. 2 Effective Time, in dollars, in an aggregate amount not in excess of such New Incremental Term Lender’s New Term Loan Commitment hereunder. From and after the Amendment No. 2 Effective Time, (a) each New Incremental Term Lender party hereto shall be a Lender for all purposes under the Credit Agreement and the other Loan Documents and (b) the New Term Loans shall be Loans for all purposes under the Credit Agreement and the other Loan Documents. For the avoidance of doubt, the New Term Loans shall be considered an increase in the Loans under the Credit Agreement and shall not be considered a separate tranche of Indebtedness under the Credit Agreement.
Incremental Term Lenders. Each Incremental Term Lender party hereto hereby acknowledges and agrees that it has an Incremental Term Facility in the amount set forth opposite such Incremental Term Lender’s name on Schedule 1.01A to this Amendment & Agreement and severally and not jointly agrees to make to the Borrowers Incremental Term Loans on the Effective Date, in Dollars, in an aggregate amount not in excess of the Incremental Term Lender’s Incremental Term Facility hereunder. From and after the Effective Date, (i) the Incremental Term Lender party hereto shall be a Term B-1 Lender for all purposes under the Credit Agreement and the other Loan Documents and (ii) the Incremental Term Facility of the Incremental Term Lender party hereto shall be a Term B-1 Commitment for all purposes under the Credit Agreement and the other Loan Documents.
Incremental Term Lenders. On and after the effectiveness of this First Amendment, this First Amendment shall for all purposes constitute a “Loan Document” under and as defined in the Credit Agreement and the other Loan Documents.
Incremental Term Lenders. From and after the Amendment Effective Date, each Incremental Term Lender hereunder shall be a party to the Credit Agreement as an “Incremental Term Lender”, “2021 Incremental Term Lender,” “Term Lender” and “Lender” thereunder and have the rights and obligations of an Incremental Term Lender, 2021 Incremental Term Lender, Term Lender and Lender under the Credit Agreement and under the other Loan Documents and shall be bound by the provisions thereof. The Incremental Term Loans shall for all purposes, constitute Obligations under the Credit Agreement and shall be secured and guaranteed with the other Obligations on a pari passu basis.
Incremental Term Lenders. Amendment No. 1 Incremental Term Loan Commitment as of the Amendment No. 1 Effective Date is set forth on Schedule 1 to Amendment No. 1. The aggregate principal amount of Amendment No. 1 Incremental Term Loan Commitments as of the Amendment No. 1 Effective Date is $40.0 million.
Incremental Term Lenders. Each Incremental Term Lender party hereto hereby acknowledges and agrees that it has a New Term Loan Commitment in the amount set forth opposite such Incremental Term Lender’s name on Schedule 2.01(b) to this Agreement and agrees to severally make to the Borrower New Term Loans on the Effective Date, in an aggregate amount not in excess of such Incremental Term Lender’s New Term Loan Commitment hereunder. From and after the Effective Date, (a) each Incremental Term Lender shall be a Term B Lender for all purposes under the Credit Agreement and the other Loan Documents, (b) the New Term Loan Commitment of each Incremental Term Lender party hereto shall be a Term B Commitment for all purposes under the Credit Agreement and the other Loan Documents and (c) the New Term Loans of the Incremental Term Lender shall be Term B Loans for all purposes under the Credit Agreement and the other Loan Documents.
Incremental Term Lenders. Incremental Term Facilities may be provided by any existing Lender (it being understood that no existing Lender will have an obligation to make all or any portion of any Incremental Term Loan) or by any Additional Lender on terms permitted by this Section 2.24; provided that the Administrative Agent will have consented (in each case, such consent not to be unreasonably withheld, conditioned or delayed) to any such Person’s providing Incremental Term Facilities if such consent would be required under Section 10.6(c)(ii) for an assignment of Term Loans or Term Loan Commitments to such Person.
Incremental Term Lenders the Administrative Agent (to the extent reasonably requested in writing at least 10 Business Days prior to the Effective Date) shall have received, at least four Business Days prior to the Effective Date, all documentation and other information about the Borrowers that the Administrative Agent reasonably determines to be required by Governmental Authorities under applicable “know your customer” and anti-money-laundering rules and regulations, including without limitation the Patriot Act and Beneficial Ownership Regulation;