Request for Incremental Term Facility Clause Samples

The "Request for Incremental Term Facility" clause defines the process by which a borrower can request additional term loan commitments from existing or new lenders under an existing credit agreement. Typically, this clause outlines the required notice period, the information that must be provided with the request, and any conditions or limitations on the amount or timing of such incremental loans. By establishing a clear procedure for obtaining extra financing, the clause provides flexibility for the borrower to access additional funds as needed while ensuring that all parties understand the steps and requirements involved.
Request for Incremental Term Facility. Provided that no Default shall have occurred and be continuing at such time or would result therefrom, upon notice to the Administrative Agent, the Company may request, on one or more occasions, without the consent of any Lender, a separate tranche of commitments (“Incremental Term Commitments”) and loans (“Incremental Term Loans”) to be established under this Credit Agreement in an amount not exceeding, when taken together with the amount of any increase in the Revolving Credit Facilities (as if fully drawn on the date of determination of compliance hereunder) and Term A Loans incurred pursuant to Section 2.13, the greater of (i) $400,000,000 and (ii) an amount which, after giving effect to such increase, would not cause the Senior Secured Leverage Ratio to exceed 4.75 to 1.00 as of the date of the incurrence of the increase; provided that any such request for an Incremental Term Facility shall be in a minimum amount of $50,000,000.
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Request for Incremental Term Facility. Provided that there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time, request one or more incremental term loan facilities under this Agreement (each an “Incremental Term Facility”); provided that (i) any such Incremental Term Facility shall be in a minimum amount of $25,000,000, and (ii) the Aggregate Commitments after giving effect to all increases of the Revolving Credit Facility Amount under Section 2.15 and all Incremental Term Facilities established under this Section 2.16 shall not exceed $850,000,000 at any time. To achieve the full amount of a requested Incremental Term Facility, and subject to the approval of the Administrative Agent (which approval shall not be unreasonably withheld), the Borrower may (i) request that one or more Lenders participate in such Incremental Term Facility, (ii) invite all Lenders to participate in such Incremental Term Facility, and/or (iii) invite additional Eligible Assignees to participate in such Incremental Term Facility. For purposes of clarification, the Borrower’s option to request one or more additional Incremental Term Facilities pursuant to this Section 2.16 shall be reinstated and remain available to the Borrower upon the termination or repayment of any established Incremental Term Facilities, provided that after giving effect thereto the Aggregate Commitments do not exceed the maximum amount set forth above at any time.
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Request for Incremental Term Facility. Provided that there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time, request one or more incremental term loan facilities under this Agreement (each an “Incremental Term Facility”); provided that (i) any such Incremental Term Facility shall be in a minimum amount of $25,000,000, and (ii) the Aggregate Commitments after giving effect to all increases of the Revolving Credit Facility Amount under Section 2.15 and all Incremental Term Facilities established under this Section 2.16 shall not exceed $400,000,000. To achieve the full amount of a requested Incremental Term Facility, and subject to the approval of the Administrative Agent (which approval shall not be unreasonably withheld), the Borrower may (i) request that one or more Lenders participate in such Incremental Term Facility, (ii) invite all Lenders to participate in such Incremental Term Facility, and/or (iii) invite additional Eligible Assignees to participate in such Incremental Term Facility.
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Request for Incremental Term Facility. Provided that no Default shall have occurred and be continuing at such time or would result therefrom, at the option of the Company, the Incremental Term Lenders and the Administrative Agent, and without the consent of any other Lender, a separate tranche of commitments and loans may be established under this Credit Agreement in an amount not exceeding the Commitment Increase Threshold minus the aggregate amount of any increase in the Revolving Credit Facility and Term A-1 Loans in accordance with Section 2.13; provided that any such request for an Incremental Term Facility shall be in a minimum amount of $400,000,000 minus the aggregate amount of any increase in the Revolving Credit Facility and Term A-1 Loans in accordance with Section 2.13.
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Request for Incremental Term Facility. Provided that no Default shall have occurred and be continuing at such time or would result therefrom, upon notice to the Administrative Agent, the Company may request, on one or more occasions, without the consent of any Lender, a separate tranche of commitments (“Incremental Term Commitments”) and loans (“Incremental Term Loans”) to be established under this Credit Agreement in an amount not exceeding, when taken together with the amount of any increase in the Revolving Credit Facilities (as if fully drawn on the date of determination of compliance hereunder) and Term A Loans incurred pursuant to Section 2.13 (other than the Incremental No. 1 Increase Term A Loans) and all incurrences of Incremental Equivalent Debt after the Amendment No. 2 Effective Date, the greater of (i) the Incremental Fixed Amount and (ii) the Incremental Ratio Amount; provided that any such request for an Incremental Term Facility shall be in a minimum amount of $50,000,000.
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Request for Incremental Term Facility. Provided there exists no Default, upon notice to the Administrative Agent, the Company may from time to time on or after the Closing Date request an Incremental Term Facility in an aggregate amount (for all such requests) not exceeding the Maximum Increase Amount; provided, that: (i) any such request for an Incremental Term Facility shall be in a minimum amount of $25,000,000; (ii) the maturity date and weighted average life to maturity (as of the effective date of such Incremental Term Facility) of the Incremental Term Loans under such Incremental Term Facility shall be no earlier than, or shorter than, as the case may be, the latest Maturity Date and weighted average life to maturity (as of the effective date of such Incremental Term Facility), as the case may be, of any other then-existing tranche of Incremental Term Loans; (iii) the interest rate margins applicable to the Incremental Term Loans under such Incremental Term Facility shall be determined by the Company and the Incremental Term Lenders under such Incremental Term Facility; provided, that, in the event the interest rate margins (other than as a result of the imposition of default interest) for Incremental Term Loans under any Incremental Term Facility are higher than the interest rate margins for Incremental Term Loans under any then-existing Incremental Term Facility by more than 0.50%, then the interest rate margins for Incremental Term Loans under each such then-existing Incremental Term Facility shall be increased to the extent necessary so that such interest rate margins shall be equal to the interest rate margins for the Incremental Term Loans under such Incremental Term Facility, minus 0.50%; provided, further, that, in determining the interest rate margins applicable to Incremental Term Loans under any Incremental Term Facility, (A) original issue discount or upfront fees (which shall be deemed to constitute like amounts of original issue discount) payable or paid, as the case may be, by any Loan Party to the lenders of such Incremental Term Loans, as the case may be, in the initial primary syndication thereof shall be included (with original issue discount being equated to interest based on assumed 4-year life to maturity), (B) customary arrangement, structuring, underwriting or commitment fees (or similar fee, however denominated) payable or paid, as the case may be, to any of the arrangers (or their affiliates) in connection with such Incremental Term Loans, as the case may be, or...
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Request for Incremental Term Facility. Provided that no Default shall have occurred and be continuing at such time or would result therefrom, at the option of the Borrower, the Incremental Term Lenders party thereto and the Administrative Agent, on one or more occasions, and without the consent of any other Lender, a separate tranche of commitments (“Incremental Term Commitments”) and loans (“Incremental Term Loans”) may be established under this Agreement in an amount not exceeding $200,000,000 minus the aggregate amount of any increase in the Term Loans in accordance with Section 2.13; provided that any such request for an Incremental Term Facility shall be in a minimum amount of $50,000,000.
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Request for Incremental Term Facility. Provided that no Default shall have occurred and be continuing at such time or would result therefrom, upon notice to the Administrative Agent, the Company may request, on one or more occasions, without the consent of any Lender, a separate tranche of commitments (“Incremental Term Commitments”) and loans (“Incremental Term Loans”) to be established under this Credit Agreement in an amount not exceeding, when taken together with the amount of any increase in the Revolving Credit Facilities (as if fully drawn on the date of determination of compliance hereunder) and Term A Loans incurred pursuant to Section 2.13 and all incurrences of Incremental Equivalent Debt, the greater of (i) the Incremental Fixed Amount and
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Related to Request for Incremental Term Facility

  • Request for Increase Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time, request an increase in the Aggregate Commitments by an amount (for all such requests) not exceeding $250,000,000; provided that (i) any such request for an increase shall be in a minimum amount of $25,000,000, and (ii) the Borrower may make a maximum of three such requests. At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders).

  • Incremental Term Loans (a) The Borrower shall have the right from time to time during the term of this Agreement, and subject to the terms and conditions set forth in this Section 2.17, to request in writing incremental term loans (the “Incremental Term Loans”) be made under this Agreement by Incremental Term Lenders pursuant to one or more Incremental Term Loan Agreements. Such notice to the Administrative Agent shall set forth the date on which such Incremental Term Loans are requested to be made (which shall not be less than three (3) Business Days nor more than 60 days after the date of such notice (which time periods may be modified or waived at the discretion of the Administrative Agent)) and include the applicable completed Incremental Term Loan Agreement for such Incremental Term Loans as an attachment thereto; provided that, notwithstanding anything to the contrary contained herein or in any Incremental Term Loan Agreement, such Incremental Term Loans shall mature on the Maturity Date, shall not require any mandatory prepayments thereof and shall not amortize. In connection with any such request, the consent of the Administrative Agent shall be required (such consent not to be unreasonably withheld, conditioned or delayed), but no consent of any Lender (other than any Lender providing an Incremental Term Loan pursuant to such request) is required to be obtained. (b) Any such Incremental Term Loans shall be made, at the option of the Borrower, by (x) one or more existing Lenders and/or (y) one or more financial institutions that is not an existing Lender (any such Lender or financial institution referred to in this Section 2.17(b) being called an “Incremental Term Lender”); provided that any such non-existing Lender or financial institution (A) must be an Eligible Assignee, (B) must have an Incremental Term Loan of at least $5,000,000 unless otherwise agreed to by the Administrative Agent and the Borrower and (C) must become an Incremental Term Lender under this Agreement by execution and delivery of an Incremental Term Loan Agreement; provided, further, that no Lender shall be required to become an Incremental Term Lender and any Lender or financial institution approached to provide an Incremental Term Loan may elect or decline, in its sole discretion, to provide such Incremental Term Loan. (c) The Borrower and each Incremental Term Lender that has agreed to provide an Incremental Term Loan pursuant to such request shall execute and deliver to the Administrative Agent an Incremental Term Loan Agreement and such other documentation as the Administrative Agent shall reasonably specify to provide for the requested Incremental Term Loans. (d) Notwithstanding the foregoing, no Incremental Term Loan Agreement shall become effective and no Incremental Term Loans shall be provided under this Section 2.17 unless: (i) no Default or Event of Default shall exist at the time of the request or at the time of the making of the proposed Incremental Term Loans; (ii) all conditions precedent for a Borrowing set forth in Section 4.02 have been satisfied; (iii) the Borrower shall have provided Incremental Term Loan Cash Collateral as required pursuant to Section 6.10 hereof and the Administrative Agent shall have received copies of the Collateral Documents or any amendments thereto that the Administrative Agent shall deem reasonably necessary, signed, to the extent applicable, by each of the parties thereto (or, in the case of any party as to which an executed counterpart shall not have been received, receipt by the Administrative Agent of telegraphic, telecopy, electronic communication or other written confirmation from such party of execution of a counterpart thereof by such party), in each case in form and substance reasonably satisfactory to the Administrative Agent; (iv) the Administrative Agent shall have received customary legal opinions, resolutions and closing certificates and other documentation as it shall reasonably request, in each case in form and substance reasonably satisfactory to the Administrative Agent; and (v) to the extent requested by any Incremental Term Lender making an Incremental Term Loan, the Borrower shall have executed and delivered Incremental Term Notes in favor of such Incremental Term Lenders evidencing such Incremental Term Loans.