Increased Revolving Commitments definition
Examples of Increased Revolving Commitments in a sentence
Except for any differences reasonably satisfactory to the Administrative Agent, the terms and conditions applicable to the Increased Revolving Commitments (including the Applicable Margin) shall be substantially identical to the terms and conditions applicable to the Revolving Credit Facility (it being understood that Increased Revolving Commitments shall be made as part of the existing Revolving Credit Facility).
For the avoidance of doubt, no existing Lender shall have any obligation to provide any portion of any Increased Revolving Commitments, Increased Term Loan Commitments or Incremental Term Facility.
The Administrative Agent and the applicable Borrower shall determine the effective date (the “Increase Effective Date”) and the final allocation of any Increased Revolving Commitments, Increased Term Loan Commitments or Incremental Term Facility.
The Increased Revolving Commitments will be made available by the Lenders listed on Schedule I hereto (the "Additional Revolving Credit Lenders") in the respective amounts set forth opposite such Lenders' names on Schedule I hereto.
The Incremental Agreement may, subject to Section 2.25(c), without the consent of any other Lender, effect such amendments to this Agreement and the other Loan Documents as may be necessary, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.25 (including, in connection with any Increased Revolving Commitments, to reallocate Revolving Extensions of Credit on a pro rata basis among the relevant Revolving Lenders).
Notwithstanding the foregoing, (i) without the consent of the Required Lenders, the aggregate amount of Incremental Loans obtained after the Closing Date pursuant to this paragraph, together with the aggregate amount of any Increased Revolving Commitments and any First Lien Incremental Term Loans, shall not exceed $25,000,000 and (ii) without the consent of the Administrative Agent, each increase effected pursuant to this paragraph shall be in a minimum amount of at least $5,000,000.
If, on the date of such increase, there are any Revolving Loans of such Class outstanding, such Revolving Loans shall, on or prior to the effectiveness of such Increased Revolving Commitments, be prepaid from the proceeds of additional Revolving Loans made hereunder (reflecting such Increased Revolving Commitments of such Class), which prepayment shall be accompanied by accrued interest on the Revolving Loans of such Class being prepaid and any costs incurred by any Lender in accordance with Section 2.21.
Any Increased Revolving Loans borrowed under the Increased Revolving Commitments shall be repaid in accordance with Section 2.07(c) of the Amended Credit Agreement.
The [Increased Term Loan [B][C] Commitment[s]] [Increased Revolving Commitment[s]] evidenced by this Agreement constitute[s] Indebtedness permitted to be incurred pursuant to Section 2.9 of the Credit Agreement.
Subject to the terms and conditions hereof and in reliance upon the representations and warranties set forth herein and in the Credit Agreement, on the Fifth Amendment Effective Date the Total Revolving Credit Commitments will be increased from $65,000,000 to $85,000,000 (the amount of such increase, the "Increased Revolving Commitments").