Incremental definition
Examples of Incremental in a sentence
The Credit Parties shall take any actions reasonably required by Administrative Agent to ensure and demonstrate that the Lien and security interests granted by the Collateral Documents continue to be perfected under the Uniform Commercial Code or otherwise after giving effect to the establishment of any such Class of Incremental Delayed Draw Term Loans or any such Incremental Delayed Draw Term Loan Commitments.
All reductions of the aggregate Delayed Draw Term Loan Commitment or aggregate Incremental Delayed Draw Term Loan Commitment shall be allocated pro rata among all Lenders with a Delayed Draw Term Loan Commitment or Incremental Delayed Draw Term Loan Commitment, as applicable.
The principal amount of the Term Loans (including, for avoidance of doubt, funded Delayed Draw Term Loans and Incremental Delayed Draw Term Loans) shall be paid in installments on the last Business Day of each Fiscal Quarter (commencing with the second full Fiscal Quarter following the Closing Date and on the Term Loan Maturity Date in an amount equal to the then-applicable Term Loan Amortization Amount.
On each Increase Effective Date on which any Incremental Delayed Draw Term Loan Commitment for an Incremental Delayed Draw Term Loan is effective, subject to the satisfaction of the foregoing terms and conditions, each Lender providing such Incremental Delayed Draw Term Loan Commitment shall make an Incremental Delayed Draw Term Loan to the Borrowers in an amount equal to its Incremental Delayed Draw Term Loan Commitment.
At any time that any Lender serving (or whose Affiliate is serving) as an agent hereunder shall have transferred to any other Person (other than any Affiliates) all of its interests in the Loans and the Delayed Draw Term Loan Commitment or any Incremental Delayed Draw Term Loan Commitment, as applicable, such Lender (or an Affiliate of such Lender acting as an agent) shall be deemed to have concurrently resigned as such agent.