Common use of New Revolving Credit Commitments Clause in Contracts

New Revolving Credit Commitments. Subject to the terms and conditions set forth herein and in Exhibit A hereto, each 2020 Revolving Credit Lender hereby agrees to provide 2020 Revolving Credit Commitments as set forth on the Fourth Amendment Effective Date Facilities Schedule. The Existing Revolving Credit Commitments shall constitute “2018 Revolving Credit Commitments” under the Amended Credit Agreement. If any Revolving Credit Loans (as defined in the Existing Credit Agreement) are outstanding on the Fourth Amendment Effective Date, such loans shall be deemed to have been converted to Revolving Credit Loans (as defined in the Amended Credit Agreement) and each Revolving Credit Lender shall be deemed to have purchased such loans on the Fourth Amendment Effective Date in such amount as directed by the Administrative Agent such that, after giving effect thereto, each Revolving Credit Lender shall hold its Applicable Percentage of the outstanding Revolving Credit Loans (as defined in the Amended Credit Agreement). All Letters of Credit outstanding on the Fourth Amendment Effective Date shall constitute Letters of Credit issued under the Amended Credit Agreement.

Appears in 2 contracts

Samples: Credit Agreement (Nexstar Media Group, Inc.), Credit Agreement (Nexstar Media Group, Inc.)

AutoNDA by SimpleDocs

New Revolving Credit Commitments. Subject to the terms and conditions set forth herein and in Exhibit A hereto, each 2020 Revolving Credit Lender hereby agrees to provide 2020 Revolving Credit Commitments (as defined in the Existing Credit Agreement) as set forth on the Fourth Fifth Amendment Effective Date Facilities Schedule. The Existing Revolving Credit Commitments shall constitute “2018 Revolving Credit Commitments” under the Amended Credit Agreement. If any Revolving Credit Loans (as defined in the Existing Credit Agreement, the “Existing Revolving Credit Loans”) are outstanding on the Fourth Fifth Amendment Effective Date, such loans shall be deemed to have been converted to Revolving Credit Loans (as defined in the Amended Credit Agreement) and each Revolving Credit Lender shall be deemed to have purchased such loans on the Fourth Fifth Amendment Effective Date in such amount as directed by the Administrative Agent such that, after giving effect thereto, each Revolving Credit Lender shall hold its Applicable Percentage of the outstanding Revolving Credit Loans (as defined in the Amended Credit Agreement). All Letters of Credit outstanding on the Fourth Fifth Amendment Effective Date shall constitute Letters of Credit issued under the Amended Credit Agreement. All Existing Revolving Credit Commitments shall be deemed to have been terminated in their entirety as of the Fifth Amendment Effective Date.

Appears in 2 contracts

Samples: Credit Agreement (Nexstar Media Group, Inc.), Credit Agreement (Nexstar Media Group, Inc.)

AutoNDA by SimpleDocs

New Revolving Credit Commitments. Subject to the terms and conditions set forth herein and in Exhibit A hereto, each 2020 Revolving Credit Lender hereby agrees to provide 2020 Revolving Credit Commitments (as defined in the Existing Credit Agreement) as set forth on the Fourth Sixth Amendment Effective Date Facilities Schedule. The Existing Revolving Credit Commitments shall constitute “2018 Revolving Credit Commitments” under the Amended Credit Agreement. If any Revolving Credit Loans (as defined in the Existing Credit Agreement, the “Existing Revolving Credit Loans”) are outstanding on the Fourth Sixth Amendment Effective Date, such loans shall be deemed to have been converted to Revolving Credit Loans (as defined in the Amended Credit Agreement) and each Revolving Credit Lender shall be deemed to have purchased such loans on the Fourth Sixth Amendment Effective Date in such amount as directed by the Administrative Agent such that, after giving effect thereto, each Revolving Credit Lender shall hold its Applicable Percentage of the outstanding Revolving Credit Loans (as defined in the Amended Credit Agreement). All Letters of Credit outstanding on the Fourth Sixth Amendment Effective Date shall constitute Letters of Credit issued under the Amended Credit Agreement. All Existing Revolving Credit Commitments shall be deemed to have been terminated in their entirety as of the Sixth Amendment Effective Date.

Appears in 2 contracts

Samples: Credit Agreement (Nexstar Media Group, Inc.), Credit Agreement (Nexstar Media Group, Inc.)

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