Term Loan Amendment Sample Clauses
A Term Loan Amendment clause outlines the process and conditions under which the terms of an existing term loan agreement can be modified. This clause typically specifies who must consent to changes, the types of amendments that are permitted, and the formal procedures required to enact such changes, such as written agreements or lender approvals. Its core practical function is to provide a clear and structured mechanism for updating loan terms in response to changing circumstances, thereby ensuring flexibility while maintaining legal certainty for all parties involved.
Term Loan Amendment. (i) Term Commitments shall become Commitments under this Agreement pursuant to an amendment (a “Term Loan Amendment”) to this Agreement in compliance with this Section 2.17 and executed by the Borrower, each Term Lender providing such Term Commitments and the Administrative Agent. Any corresponding amendments to the other Credit Documents necessary or appropriate in connection with and in compliance with this Section 2.17 shall be effective once executed by the Borrower and the Administrative Agent (without the consent of any Lender). The Term Loan Amendment may, without the consent of any other Lender, effect such amendments to this Agreement as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.17 (including introducing additional or tightening existing mandatory prepayments, representations and warranties, covenants or events of default for the benefit of all Lenders). The Borrower will use the proceeds of the Term Loans for any purpose not prohibited by this Agreement. No Lender shall be obligated to provide any Term Loans unless it so agrees.
(ii) The Lenders hereby irrevocably authorize Administrative Agent to enter into amendments to this Agreement and the other Credit Documents with the Credit Parties as may be necessary in order to establish new tranches or sub-tranches in respect of Loans or commitments made or established pursuant to this Section 2.17 and such technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative Agent and the Borrower in connection with the establishment of such new tranches or sub-tranches, in each case, on terms consistent with this Section 2.17, including any amendments that are not adverse to the interests of any Lender that are made to effectuate changes necessary to enable any Term Loans to be fungible for United States federal income tax purposes with another Class of Term Loans, which shall include any amendments that do not reduce the ratable amortization received by each Lender thereunder.
(iii) Upon the effectiveness of such Term Loan Amendment, this Agreement may be amended by the Administrative Agent (without the consent of any other party hereto) by adding a new Schedule hereto or amending an existing Schedule hereto to reflect the Term Commitment of each Term Lender party thereto.
Term Loan Amendment. The ABL Administrative Agent shall have received a fully executed copy of the Second Amendment to the Term Loan Agreement with substantially similar amendments to this Amendment and otherwise in form and substance acceptable to the ABL Administrative Agent.
Term Loan Amendment. A fully executed copy of Amendment No.3 and Consent to the Term Loan Agreement.
Term Loan Amendment. The Fourth Amendment to the Credit Agreement, dated as of October 25, 2016, by and among the Partnership, the financial institutions from time to time party thereto as lenders, and Cortland Capital Market Services LLC, as the Administrative Agent, shall have been entered into and all conditions precedent necessary for the effectiveness of such amendment, other than any conditions related to the transactions contemplated by this Agreement, shall have been satisfied or waived.
Term Loan Amendment. Each Lender consents to the Term Loan Amendment and the Term Loan Agreement as amended thereby and each Lender authorizes and directs the Administrative Agent to enter into an amendment to the Intercreditor Agreement in connection herewith. SECOND AMENDMENT TO REVOLVING SYNDICATED FACILITY AGREEMENT
Term Loan Amendment. Administrative Agent shall have received a duly executed copy of an amendment to the Term Loan Facility in form and substance reasonably satisfactory to the Administrative Agent; provided that an amendment in form and substance substantially similar to this Amendment shall be deemed reasonably satisfactory to the Administrative Agent.
Term Loan Amendment. The definition of “Applicable Rate” in Section 1.01 of the Credit Agreement is hereby amended by deleting the second paragraph thereof in its entirety and replacing it with the following: “The Applicable Rate for Tranche B Term Loans shall at all times be equal to 2.00% per annum for Eurodollar Loans and 1.00% per annum for ABR Loans.”
Term Loan Amendment. The Term Loan Collateral Agent, the Administrative Agent under the Term Loan Agreement and the lenders under the Term Loan Agreement shall have amended the Term Loan Agreement pursuant to an amendment thereto substantially in the form of Annex E hereto (the “Term Loan Amendment”).
Term Loan Amendment. (a) The Agent, the Issuing Banks and the Lenders hereby acknowledge and agree that the terms of the Term Loan Amendment and the Term Loan Forbearance Agreement (each, as in effect on the date hereof) are permitted under Section 10.2.15(d) of the Loan Agreement.
(b) The Agent, at the direction of the Required Lenders, hereby acknowledges and agrees that the $20,000,000 of incremental Term Loans provided or to be provided under the Term Loan Amendment (as in effect on the date hereof) constitute Term Loan Obligations for purposes of the Intercreditor Agreement and are not Term Loan Excess Amount (as defined therein). The Parent hereby agrees to timely request any “Additional First-Out Loans” (as defined in the Term Loan Credit Agreement) to meet its and its Subsidiaries’ cash flow needs during the Forbearance Period (it being understood that the funding of such Additional First-Out Loans is subject to the discretion of the Primoris Lenders (as defined in the Term Loan Credit Agreement)). The Parent hereby further agrees to timely submit a written request to the Primoris Lenders for such Additional First-Out Loans in an amount not less than is required to remedy any cash deficiency indicated in the most recent cash flow forecast delivered by the Parent to the Agent in accordance with Section 6.1(c) or (d) hereof.
Term Loan Amendment. Agent shall have received the Sixth Amendment to Loan and Security Agreement executed by the Obligors, the Term Loan Agent and the Term Loan Lenders party thereto.