2016 Incremental Effective Date definition

2016 Incremental Effective Date means April 25, 2016.

2016 Incremental Effective Date means the first date when each of the conditions under Section 6 of the 2016 Incremental Assumption Agreement have been met.

Examples of 2016 Incremental Effective Date in a sentence

• The Borrower will use the proceeds of the 2016 Incremental Term Loans to make a cash dividend to Holdings (for the ultimate purpose of the indirect parent of Borrower making a dividend to its common shareholders) on or after the 2016 Incremental Effective Date and pay fees and expenses incurred in connection with the 2016 Incremental Amendment and the incurrence of the 2016 Incremental Term Loans and for other general corporate purposes not prohibited by this Agreement.

• The parties hereto acknowledge and agree that, as of the date hereof, the Incremental Term Lender is an Affiliate Lender, and from and after the 2016 Incremental Effective Date, the Incremental Term Lender shall be subject to the requirements of Section 9.04 and Section 9.21 of the Credit Agreement to the same extent as though the Incremental Term Lender had received an assignment the 2016 Incremental Term Loan.

• Subject to the terms and conditions set forth herein, the Incremental Term Lender agrees to make an Incremental Term Loan to the Borrowers on the 2016 Incremental Effective Date in a principal amount not to exceed its Incremental Term Loan Commitment.

• Unless previously terminated, the Incremental Term Loan Commitment shall terminate at 5:00 p.m., New York City time, on the 2016 Incremental Effective Date.

• Unless previously terminated, the Incremental Term Loan Commitment shall terminate at 5:00 p.m., New York City time, on the May 2016 Incremental Effective Date.