Common use of Reversion Provision Clause in Contracts

Reversion Provision. The parties hereto agree that if the Seattle Acquisition is not consummated on or prior to the Applicable Acquisition Consummation Deadline, then (w) any provision in this Agreement that provides the Parent or any of its Subsidiaries (including, for the avoidance of doubt, the Borrower) additional capacity for incurrence under fixed dollar baskets under Article VI or increased dollar thresholds under Article VII, in each case, relative to the corresponding provision in the Existing Credit Agreement, shall instead be deemed to be replaced by such corresponding provision in the Existing Credit Agreement, (x) the dollar amounts set forth in (i) clause (x) of the definition of “Unrestricted Incremental First Lien Indebtedness”, (ii) the provisos to clauses (D) and (E) of Section 2.20(b), (iii) the proviso to clause (i) of the definition of “Additional Debt”, (iv) the second proviso to the definition of “Additional Term Notes”, (vi) the proviso to clause (b) of the definition of “Unrestricted Additional Term Notes”, and (v) clause (a)(1) of Section 6.01(a)(xxxii), in each case, shall be deemed to be replaced by such corresponding provision in the Existing Credit Agreement, (y) the initial aggregate principal of the Lender’s Revolving Commitments shall be $375,000,000 (with the Initial Revolving Loans and Initial Revolving Commitments reallocated by the Administrative Agent among the Revolving Lenders on a pro rata basis) and (z) (i) the LC Sublimit shall be $40,000,000 and (ii) the Swingline Sublimit shall be $20,000,000.

Appears in 3 contracts

Sources: Credit Agreement (Micro Focus International PLC), Credit Agreement (Micro Focus International PLC), Credit Agreement (Micro Focus International PLC)