Common use of Terms of New Loans and Commitments Clause in Contracts

Terms of New Loans and Commitments. The terms and provisions of Loans made pursuant to Incremental Revolving Commitments shall be identical to the Revolving Loans of the same Class (subject to the payment of any customary arrangement, underwriting or similar fees that are paid to the arranger of such Incremental Revolving Commitments in its capacity as such). The increased or new Commitments shall be effected by a joinder agreement (the “Increase Joinder”) executed by the Loan Parties, the Administrative Agent and each Lender and Additional Lender making such Incremental Revolving Commitment, in form and substance satisfactory to each of them. The Increase Joinder may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.23 (including with respect to establishment of new Loans and Commitments as a first-in, last-out tranche, and to provide for class voting protections as described below). In addition, unless otherwise specifically provided herein, all references in Loan Documents to Revolving Loans shall be deemed, unless the context otherwise requires, to include references to Revolving Loans made pursuant to Incremental Revolving Commitments made pursuant to this Agreement, and all references in Loan Documents to Commitments of a Class shall be deemed, unless the context otherwise requires, to include references to Incremental Revolving Commitments of such Class made pursuant to this Agreement.

Appears in 5 contracts

Samples: Credit Agreement (Novelis Inc.), Credit Agreement (Novelis Inc.), Credit Agreement (Novelis Inc.)

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Terms of New Loans and Commitments. The terms and provisions of Loans the Increased Incremental Class made pursuant to Incremental Revolving the new Commitments shall be identical to the Revolving Loans (it being understood and agreed that the Borrowers may, at their option, pay customary arrangement and upfront fees (or similar fees) in connection with the increased Commitments); provided that the terms of any Incremental Revolving Facility established as an Additional Incremental Class shall be identical to the same terms applicable to any then-existing Class (except that any Additional Incremental Class may, subject to a Permitted Secured Indebtedness Intercreditor Agreement (if applicable), rank junior in right of payment and/or in priority with respect to proceeds of Collateral to any then-existing Class of Revolving Loans and may be pursuant to different terms and conditions than the payment of any customary arrangement, underwriting or similar fees that are paid to the arranger of such Incremental existing Revolving Commitments in its capacity as such)Loans. The increased or new Commitments shall be effected by a joinder agreement (the “Increase Incremental Joinder”) executed by the Loan PartiesBorrowers, the Administrative Agent and each Lender and Additional Lender making such Incremental Revolving increased or new Commitment, in form and substance reasonably satisfactory to each of them. The Increase Incremental Joinder may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.23 (including with respect to establishment of new Loans and Commitments as a first-in, last-out tranche, and to provide for class voting protections as described below)2.20. In addition, unless otherwise specifically provided herein, all references in Loan Documents to Revolving Loans shall be deemed, unless the context otherwise requires, to include references to Revolving Loans made pursuant to Incremental Revolving new Commitments made pursuant to this Agreement, and all references in Loan Documents to Commitments of a Class shall be deemed, unless the context otherwise requires, to include references to Incremental Revolving Commitments of such Class made pursuant to this Agreement.. 110

Appears in 1 contract

Samples: Revolving Syndicated Facility Agreement (Tronox LTD)

Terms of New Loans and Commitments. The terms and provisions of Loans made pursuant to Incremental Revolving Commitments shall be identical to the Revolving Loans of the same Class (subject to the payment of any customary arrangement, underwriting or similar fees that are paid to the arranger of such Incremental Revolving Commitments in its capacity as such). The increased or new Commitments shall be effected by a joinder agreement (the “Increase Joinder”) executed by the Loan Parties, the Administrative Agent and each Lender and Additional Lender making such Incremental Revolving Commitment, in form and substance satisfactory to each of them. The Increase Joinder may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.23 (including with respect to establishment of new Loans and Commitments as a first-in, last-out tranche, and to provide for class voting protections as described below)2.23. In addition, unless otherwise specifically provided herein, all references in Loan Documents to Revolving Loans shall be deemed, unless the context otherwise requires, to include references to Revolving Loans made pursuant to 136 Incremental Revolving Commitments made pursuant to this Agreement, and all references in Loan Documents to Commitments of a Class shall be deemed, unless the context otherwise requires, to include references to Incremental Revolving Commitments of such Class made pursuant to this Agreement.

Appears in 1 contract

Samples: Security Agreement (Novelis Inc.)

Terms of New Loans and Commitments. The terms and provisions of Loans made pursuant to Incremental Revolving Commitments shall be identical to the Revolving Loans (including the pricing, maturity and weighted average life and it being understood that Incremental Loans shall be a part of the same Class (subject to the payment of any customary arrangement, underwriting or similar fees that are paid to the arranger of such Loans); The Incremental Revolving Commitments in its capacity as such). The increased or new Commitments shall be effected by a joinder agreement (the “Increase Joinder”) executed by the Loan PartiesBorrower, the Administrative Agent and each Lender and Additional Lender making such Incremental Revolving Commitment, in form and substance reasonably satisfactory to each of them. The Notwithstanding the provisions of Section 11.01, the Increase Joinder may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent, to effect the provisions of this Section 2.23 (including with respect to establishment of new Loans and Commitments as a first-in, last-out tranche, and to provide for class voting protections as described below)2.15. In addition, unless otherwise specifically provided herein, all references in Loan Documents to Revolving Loans shall be deemed, unless the context otherwise requires, to include references to Revolving Incremental Loans made pursuant to Incremental Revolving Commitments made pursuant to this Agreement. This Section 2.15 shall supersede any provisions in Section 2.13 or Section 11.01 to the contrary. (c) [reserved]; (d) Making of New Loans. On any Increase Effective Date on which new Commitments for Loans are effective, subject to the satisfaction of the foregoing terms and all references in Loan Documents to Commitments of a Class shall be deemedconditions, unless the context otherwise requires, to include references to Incremental Revolving Commitments each Lender of such Class made pursuant new Commitment shall make a Loan to this Agreement.the Borrower in an amount equal to its new Commitment. (e)

Appears in 1 contract

Samples: Version Term Loan Credit Agreement (Tech Data Corp)

Terms of New Loans and Commitments. The terms and provisions of Loans the Increased Incremental Class made pursuant to Incremental Revolving the new Commitments shall be identical to the Revolving Loans (it being understood and agreed that the Borrowers may, at their option, pay customary arrangement and upfront fees (or similar fees) in connection with the increased Commitments); provided that the terms of any Incremental Revolving Facility established as an Additional Incremental Class shall be identical to the same terms applicable to any then-existing Class (except that any Additional Incremental Class may, subject to a Permitted Secured Indebtedness Intercreditor Agreement (if applicable), rank junior in right of payment and/or in priority with respect to proceeds of Collateral to any then-existing Class of Revolving Loans and may be pursuant to different terms and conditions than the payment of any customary arrangement, underwriting or similar fees that are paid to the arranger of such Incremental existing Revolving Commitments in its capacity as such)Loans. The increased or new Commitments shall be effected by a joinder agreement (the “Increase Incremental Joinder”) executed by the Loan PartiesBorrowers, the Administrative Agent and each Lender and Additional Lender making such Incremental Revolving increased or new Commitment, in form and substance reasonably satisfactory to each of them. The Increase Incremental Joinder may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.23 (including with respect to establishment of new Loans and Commitments as a first-in, last-out tranche, and to provide for class voting protections as described below)2.20. In addition, unless otherwise specifically provided herein, all references in Loan Documents to Revolving Loans shall be deemed, unless the context otherwise requires, to include references to Revolving Loans made pursuant to Incremental Revolving new Commitments made pursuant to this Agreement, and all references in Loan Documents to Commitments of a Class shall be deemed, unless the context otherwise requires, to include references to Incremental Revolving Commitments of such Class made pursuant to this Agreement.

Appears in 1 contract

Samples: Revolving Syndicated Facility Agreement (Tronox LTD)

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Terms of New Loans and Commitments. The terms and provisions provisions, including, without limitation, interest, commitment fees and letter of credit participation fees, of Loans made pursuant to the new Revolving Commitments (“Incremental Revolving Commitments Loans”) (other than as provided below) shall be identical from and after the date of effectiveness of the relevant Increase Joinder in all respects to the Revolving Loans; provided, however, the rate of interest, commitment fees and letter of credit participation fees, original issue discount, upfront fees and closing fees shall be determined by the Borrowers and the applicable Lenders providing such new Revolving Commitments and shall be set forth in the applicable Increase Joinder (and any such new Revolving Commitments and Incremental Revolving Loans may be designated a Class of Loans and Commitments for all purposes of this Agreement); provided, further, in the event the Yield for any of the same Class (subject Incremental Revolving Loans is higher than the Yield on the Initial Revolving Loans by more than 75 basis points, then the Applicable Margin for such Initial Revolving Loans shall be increased to the payment of any customary arrangement, underwriting or similar fees extent necessary so that are paid the Yield for such Initial Revolving Loans is equal to the arranger of Yield for such Incremental Revolving Commitments in its capacity as such)Loans minus 75 basis points. The increased or new Commitments shall be effected by a joinder agreement (the “Increase Joinder”) executed by the Loan PartiesBorrowers, the Administrative Agent and each Lender and Additional Lender making such Incremental Revolving increased or new Commitment, in form and substance reasonably satisfactory to each of them. The Increase Joinder may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.23 (including with respect to establishment of new Loans and Commitments as a first-in, last-out tranche, and to provide for class voting protections as described below)2.20. In addition, unless otherwise specifically provided herein, all references in Loan Documents to Revolving Loans shall be deemed, unless the context otherwise requires, to include references to Revolving Loans made pursuant to Incremental new Revolving Commitments made pursuant to as set forth in this Agreement, and all references in Loan Documents to Commitments of a Class shall be deemed, unless the context otherwise requires, to include references to Incremental Revolving Commitments of such Class made pursuant to this AgreementSection 2.20.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (PBF Holding Co LLC)

Terms of New Loans and Commitments. The terms and provisions of Loans made pursuant to Incremental Revolving Commitments shall be identical to the Revolving Loans of the same Class (subject to the payment of any customary arrangement, underwriting or similar fees that are paid to the arranger of such Incremental Revolving Commitments in its capacity as such). The increased or new Commitments shall be effected by a joinder agreement (the “Increase Joinder”) executed by the Loan Parties, the Administrative Agent and each Lender and Additional Lender making such Incremental Revolving Commitment, in form and substance satisfactory to each of them. The Increase Joinder may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.23 (including with respect to establishment of new Loans and Commitments as a first-in, last-out tranche, and to provide for class voting protections as described below). In addition, unless otherwise specifically provided herein, all references in Loan Documents to Revolving Loans shall be deemed, unless the context otherwise requires, to include references to Revolving Loans made pursuant to Incremental Revolving Commitments made pursuant to this Agreement, and all references in Loan Documents to Commitments of a Class shall be deemed, unless the context otherwise requires, to include references to Incremental Revolving Commitments of such Class made pursuant to this Agreement.. 211 1125931.03I-XXXXX000000000.05E-CHISR01A - MSW

Appears in 1 contract

Samples: Credit Agreement (Novelis Inc.)

Terms of New Loans and Commitments. The terms and provisions of Loans made pursuant to Incremental Revolving Commitments shall be identical to the Revolving Loans of the same Class (subject to the payment of any customary arrangement, underwriting or similar fees that are paid to the arranger of such Incremental Revolving Commitments in its capacity as such). The increased or new Commitments shall be effected by a joinder agreement (the “Increase Joinder”) executed by the Loan Parties, the Administrative Agent and each Lender and Additional Lender making such Incremental Revolving Commitment, in form and substance satisfactory to each of them. The Increase Joinder may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.23 (including with respect to establishment of new Loans and Commitments as a first-in, last-out tranche, and to provide for class voting protections as described below). In addition, unless otherwise specifically provided herein, all 197 1209502.04-CHISR02A - MSW references in Loan Documents to Revolving Loans shall be deemed, unless the context otherwise requires, to include references to Revolving Loans made pursuant to Incremental Revolving Commitments made pursuant to this Agreement, and all references in Loan Documents to Commitments of a Class shall be deemed, unless the context otherwise requires, to include references to Incremental Revolving Commitments of such Class made pursuant to this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Novelis Inc.)

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