Accordion Facility definition

Accordion Facility and “Accordion Facilities”: as defined in Subsection 2.6(a).

Accordion Facility means any term loan facility that may be established and made available under this Agreement as described in Clause 6 (Establishment of an Accordion Facility).

Accordion Facility means the uncommitted term loan facility made available under this Agreement as described in clause 2 (The Facilities).

Examples of Accordion Facility in a sentence

• The Facility Agent shall, subject to paragraph (b) below, as soon as reasonably practicable after receipt by it of the relevant duly completed Accordion Facility Notice appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Accordion Facility Notice.

• If the conditions set out in this Agreement have been met the establishment of the relevant Accordion Facility is effected in accordance with paragraph (c) below when the Facility Agent executes an otherwise duly completed Accordion Facility Notice for that Accordion Facility.

• The Facility Agent shall, as soon as reasonably practicable after the establishment of an Accordion Facility notify the Borrower and the Lenders of that establishment and the Accordion Facility Date of that Accordion Facility.

• An Accordion Facility shall only be available during the Availability Period for that Accordion Facility.

• The Facility Agent shall only be obliged to execute an Accordion Facility Notice delivered to it by the Borrower once it is satisfied it has complied with all necessary "know your customer" or other similar checks under all applicable laws and regulations in relation to the establishment of the relevant Accordion Facility.

More Definitions of Accordion Facility

Accordion Facility means the revolving line of credit described in Section 2.2, below.

Accordion Facility means any revolving facility that may be established and made available under this Agreement as described in Clause 6.1 (Establishment of Accordion Facility) and if more than one Accordion Facility Dates occurs such term shall mean the single reconstituted revolving facility referred to at paragraph (a) of Clause 7.3 (Reduction of the Accordion Facility).

Accordion Facility means the uncommitted credit facility established pursuant to Section 1.3 hereof, in the amount of not more than Ten Million Dollars ($10,000,000).

Accordion Facility means, at any time, all Accordion Commitments outstanding at such time up to an aggregate principal amount of $40,000,000 the terms and conditions of such facility are agreed to in writing, among the Borrower and the Accordion Lenders, which must be approved, in writing, by the Administrative Agent such approval not to be unreasonably withheld or delayed.

Accordion Facility means the extension of credit to Borrower made by Lenders pursuant to the provisions of Section 2.6.

Accordion Facility shall, where used in any Finance Document, mean any accordion facility made available under Clause 2.5 (Accordion Facility) of the Facility Agreement.

Accordion Facility means a term loan facility described in Clause 2.2 (Accordion Facility).