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.
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.
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.
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.
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.
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...
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.
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