Incremental Amendment definition
Examples of Incremental Amendment in a sentence
The Incremental Term Commitments under an Incremental Term Facility shall automatically and permanently terminate on the date of the applicable Incremental Amendment upon the funding of the Incremental Term Loans under such Incremental Term Facility.
Each of the parties hereto hereby agrees that, upon the effectiveness of any Incremental Amendment, this Agreement and the other Loan Documents, as applicable, will be amended to the extent necessary to reflect the existence and terms of the Incremental Commitment and the Loans evidenced thereby.
No Lender shall be obligated to provide any Incremental Term Loans, unless it so agrees, provided that, each Lender party hereto as of the date of such Incremental Amendment shall have the right to provide its Pro Rata Share of such Loans (unless it has declined or is a Defaulting Lender, or as provided in Section 2.13(b)).
In the event any Incremental Term Loans are made, such Incremental Term Loans shall be repaid by the Borrower in the amounts and on the dates set forth in the Incremental Amendment with respect thereto and on the applicable Maturity Date thereof.
Each Incremental Amendment will set forth the amount and terms of the relevant Incremental Commitment.