Subsequent Credit Extensions Sample Clauses

Subsequent Credit Extensions. The obligation of each Lender and each Issuer to make any Credit Extension other than the initial Credit Extension on the Closing Date shall be subject to the satisfaction of the condition precedent set forth below.
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Subsequent Credit Extensions. The Lenders shall not be required to make any Credit Extension after the initial $150,000,000 Credit Extension referred to in Section 4.1(xiv) above unless:
Sample 1
Subsequent Credit Extensions. Each Borrowing of any Loans after the date of the initial Credit Extension shall be advanced by IBJW (for and on behalf of the Lenders) to the relevant Borrower by wire transfer to the account the Borrower Representative shall have specified in its Borrowing Request. On or before 1:00 p.m. (New York City time) on each Settlement Date, each Lender (other than IBJW) irrevocably agrees that it will make a Revolving Loan, CapEx Loan and/or Term Loan (each a "Refunding Loan") in an amount equal to such Lender's Percentage of the then aggregate outstanding principal amount of all the Revolving Loans, CapEx Loans and/or Term Loans, respectively. The proceeds of the Refunding Loans shall be applied to repay the Revolving Loans, CapEx Loans and/or Term Loans then outstanding and previously funded by IBJW, as the case may be. Once made, the Refunding Loans shall be deemed to be, for all purposes of this Agreement and the other Loan Documents, Revolving Loans, CapEx Loans or Term Loans, as the case may be, of the Lender making each such Loan. Until a Lender makes a Refunding Loan that repays in full the Revolving Loan, CapEx Loan and/or Term Loan made by IBJW on its behalf, IBJW shall be entitled to all principal and interest payments with respect to such Revolving Loans, Equity Loan and/or Term Loan. If any Lender fails to make any Refunding Loan on any Settlement Date, such Lender agrees to pay IBJW such amount, together with interest thereon accruing at the Federal Funds Effective Rate, for the first three Business Days following such Settlement Date, and thereafter at the applicable interest rate under this Agreement. In addition, if any Lender fails to make its Refunding Loans within three Business Days of any Settlement Date, the relevant Borrower agrees to repay such amount on demand. Each Lender's obligation to make the Refunding Loans referred to in this clause (ii) shall be absolute and unconditional and shall not be affected by any circumstance, including, without limitation, (A) any set-off, counterclaim, recoupment, defense or other right which such Lender may have against IBJW, the Borrowers or any other Person for any reason whatsoever; (B) the occurrence or continuance of any Default or Event of Default; (C) the acceleration or maturity of any Loans or the termination of the Revolving Loan Commitment; (D) any breach of this Agreement or any other Loan Document by the Borrowers, any Lender or the Agent; or (E) any other circumstance, happening or event...
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Related to Subsequent Credit Extensions

  • Initial Credit Extension The obligations of the Lenders and, if applicable, the Issuer to fund the initial Credit Extension shall be subject to the prior or concurrent satisfaction of each of the conditions precedent set forth in this Section 5.1.

  • Incremental Credit Extensions (a) The Borrower may, at any time after the Closing Date, on one or more occasions pursuant to an Incremental Facility Agreement, (i) add one or more new tranches of term facilities (each new tranche, a “New Incremental Term Facility”) and/or increase the principal amount of the Term Loans of any existing Class by requesting new commitments to provide such Term Loans (each increase, an “Incremental Increase Facility”; together with any New Incremental Term Facility, “Incremental Term Facilities” and any loans made pursuant to an Incremental Term Facilities, “Incremental Term Loans”) and/or (ii) add one or more new tranches of Incremental Revolving Commitments (each new tranche, a “New Incremental Revolving Facility”) and/or increase the aggregate amount of the Revolving Credit Commitments of any existing Class (each increase, a “Revolving Commitment Increase”; together with any New Incremental Revolving Facility, “Incremental Revolving Facilities” and, together with any Incremental Term Facility, “Incremental Facilities”; and the loans thereunder, “Incremental Revolving Loans” and any Incremental Revolving Loans, together with any Incremental Term Loans, “Incremental Loans”) in an aggregate outstanding principal amount not to exceed the Incremental Cap; provided that:

  • All Credit Extensions The obligation of each Lender and each Issuer to make any Credit Extension shall be subject to the satisfaction of each of the conditions precedent set forth below.

  • Each Credit Extension The Lenders shall not (except as otherwise set forth in Section 2.4(d) with respect to Revolving Loans for the purpose of repaying Swing Line Loans) be required to make any Credit Extension unless on the applicable Borrowing Date:

  • Extension of Credit For the purposes hereof, each drawdown, rollover and conversion shall be deemed to be an extension of credit to the Borrower hereunder.

  • Commitments and Credit Extensions 2.01 Revolving and Term Loans

  • The Commitments and Credit Extensions 2.01 The Loans.

  • Credit Extensions Borrower promises to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower hereunder. Borrower shall also pay interest on the unpaid principal amount of such Credit Extensions at rates in accordance with the terms hereof.

  • Conditions to Credit Extensions SECTION 4.01. Conditions to Initial Credit Extension........................62 SECTION 4.02. Conditions to All Credit Extensions...........................67 ARTICLE V

  • Initial Extension of Credit The obligation of Lender to make the initial Advance or issue the initial Letter of Credit is subject to the condition precedent that prior thereto Lender shall have received all of the documents set forth below in form and substance satisfactory to Lender.

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