Common use of Lender Election to Increase; Prospective Lenders Clause in Contracts

Lender Election to Increase; Prospective Lenders. No Lender shall be obligated to participate in any Incremental Term Loan or Incremental Revolving Credit Commitment. The Borrower may invite any prospective lender that satisfies the criteria of being an “Eligible Assignee” to become a Lender pursuant to a joinder agreement in form and substance reasonably satisfactory to the Administrative Agent in connection with the proposed Incremental Term Loan and, if applicable, the proposed Incremental Revolving Credit Commitment (provided that the joinder of any such “Lender” for the purpose of providing all or any portion of any such Incremental Term Loan shall not require the consent of any other Lender (including any other “Lender” that is joining this Agreement) to provide all or part of such Incremental Term Loan).

Appears in 2 contracts

Sources: Credit Agreement (Digi International Inc), Credit Agreement (Digi International Inc)