Common use of Revolving Commitment Increase Clause in Contracts

Revolving Commitment Increase. (a) The Borrower and each Increase Loan Lender hereby agree that, subject to the satisfaction of the conditions in Section 5 hereof, on the Amendment No. 1 Effective Date (as defined below), the Revolving Commitment Increase of such Increase Loan Lender shall become effective and the Revolving Commitments shall be deemed increased by the amount of the Revolving Commitment Increases of such Increase Loan Lenders in the amounts set forth on Schedule 1 hereto. Pursuant to Section 2.15 of the Credit Agreement, the Revolving Commitment Increases shall be Revolving Commitments for all purposes under the Credit Agreement and each of the other Loan Documents and shall have terms identical to the Revolving Commitments outstanding under the Credit Agreement immediately prior to the date hereof (but giving effect to any amendments hereunder). (b) Each Increase Loan Lender acknowledges and agrees that upon the Amendment No. 1 Effective Date, such Increase Loan Lender shall be a “Lender” under, and for all purposes of, the Credit Agreement and the other Loan Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender thereunder. (c) After giving effect to such Revolving Commitment Increases, the Revolving Commitment of each Revolving Lender shall be as set forth on Schedule 2 hereto (and such Schedule 2 shall supersede Schedule 2.01 to the Credit Agreement).

Appears in 1 contract

Sources: Credit Agreement (Cenveo, Inc)

Revolving Commitment Increase. (a) The Borrower and each Increase Loan Lender hereby agree that, subject Subject to the satisfaction terms and conditions of the conditions Credit Agreement and in Section 5 hereofreliance upon the representations and warranties of the Loan Parties contained herein and in the Credit Agreement, the Lender establishes in favor of the U.S. Borrower an increase to the Revolving Commitments (the “Revolving Commitment Increase”) on the Amendment No. 1 Effective Date (as defined below)) in the principal amount of $7,500,000, all on the terms and subject to the conditions set forth herein and in the Credit Agreement. The Revolving Commitment Increase of such Increase Loan Lender shall become effective and the Revolving Commitments shall be deemed increased by the amount constitute part of the aggregate Revolving Commitment Increases of such Increase Loan Lenders in the amounts set forth on Schedule 1 hereto. Pursuant to Section 2.15 of under the Credit Agreement, and the existing Revolving Commitment Increases shall be Revolving Commitments for all purposes under the Credit Agreement and each the Revolving Commitment Increase shall constitute a single commitment, with all revolving loans thereunder having the same terms as the existing Revolving Loans made to the U.S. Borrower prior to the Effective Date, all as described more fully in the Credit Agreement, and in connection therewith shall be subject to all of the terms and provisions of the Credit Agreement and other Loan Documents and shall have terms identical to pertaining thereto. In addition, the Revolving Commitments outstanding Loans, whether made before, on, or after the Effective Date shall be deemed to constitute a part of the “Obligations” and of the “U.S. Obligations” under the Credit Agreement immediately prior to and shall have all rights, remedies, protections and collateral security accorded the date hereof (but giving effect to any amendments hereunder). (b) Each Increase Loan Lender acknowledges Obligations and agrees that upon the Amendment No. 1 Effective Date, such Increase Loan Lender shall be a “Lender” U.S. Obligations under, and for all purposes ofsubject to the terms, conditions and limitations set forth in, the Credit Agreement and the other Loan Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender thereunder. (c) After giving effect to such Revolving Commitment Increases, the Revolving Commitment of each Revolving Lender shall be as set forth on Schedule 2 hereto (and such Schedule 2 shall supersede Schedule 2.01 to the Credit Agreement).

Appears in 1 contract

Sources: Credit Agreement (AstroNova, Inc.)

Revolving Commitment Increase. (a) The Lead Borrower and each Increase Loan Lender hereby agree that, subject to the satisfaction of the conditions in Section 5 hereof, on the Amendment No. 1 2 Effective Date (as defined below)Date, the Revolving Commitment Increase of such Increase Loan Lender shall become effective and the U.S. Revolving Commitments of such Increase Loan Lender shall be deemed increased by the amount of the Revolving Commitment Increases of such Increase Loan Lenders in the amounts Lender set forth on Schedule 1 hereto. Pursuant to Section 2.15 of the Credit Agreement, the The Revolving Commitment Increases shall be U.S. Revolving Commitments for all purposes under the Credit Agreement and each of the other Loan Credit Documents and shall have terms identical to the U.S. Revolving Commitments outstanding under the Credit Agreement immediately prior to the date hereof (but giving effect to any amendments hereunder). (b) Each Increase Loan Lender acknowledges and agrees that upon the Amendment No. 1 2 Effective Date, such Increase Loan Lender shall be a “Lender” under, and for all purposes of, the Credit Agreement and the other Loan Credit Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender thereunder. (c) After giving effect to such Revolving Commitment IncreasesIncreases and the Amendment No. 2 Commitment Adjustment, the Revolving Commitment Commitments of each Revolving Lender shall be as set forth on Schedule 2 hereto (and such Schedule 2 shall supersede Schedule 2.01 to the Credit Agreement).

Appears in 1 contract

Sources: Credit Agreement (Ryerson Holding Corp)