Incremental Increase definition

Incremental Increase has the meaning specified in Section 2.16(a).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Incremental Increase has the meaning assigned to such term in Section 2.20.

Incremental Increase means that term as defined in Section 2.9(b) hereof.

Examples of Incremental Increase in a sentence

• Each proposed Incremental Lender may elect or decline, in its sole discretion, and shall notify the Administrative Agent in writing within such time period whether it agrees, to provide an Incremental Increase and, if so, whether by an amount equal to, greater than or less than requested.

• Each notice from the Borrower pursuant to this Section 5.13 shall set forth the requested amount and proposed terms of the relevant Incremental Increase.

• The proceeds of any Incremental Increase may be used by Borrower and its Subsidiaries for general corporate purposes of Borrower and its Subsidiaries (including Permitted Acquisitions, joint venture Investments permitted hereunder, Capital Expenditures permitted hereunder, Restricted Payments permitted hereunder and repurchases of Equity Interests permitted hereunder).

• The Administrative Agent and Borrower shall determine the effective date (the “Increase Effective Date”) and the final allocation of such Incremental Increase.

• Any Person not responding within such time period shall be deemed to have declined to provide an Incremental Increase.

More Definitions of Incremental Increase

Incremental Increase has the meaning assigned thereto in Section 2.04(a).

Incremental Increase shall have the meaning ascribed thereto in Section 2.14(a).

Incremental Increase means an Incremental Term Loan Increase or a Revolving Commitment Increase, as applicable.

Incremental Increase as defined in Section 2.19(a).

Incremental Increase has the meaning set forth in Section 2.3.

Incremental Increase shall the meaning assigned to such term in Section 2.20(a). “Incremental Term Loans” shall have the meaning assigned to such term in Section 2.20(d)(ix). “Incremental Project Facility” shall have the meaning assigned to such term in Section 6.01(h). “Incremental Revolving Facility” shall the meaning assigned to such term in Section 2.20(a). “Incremental Revolving Issuing Bank” shall have the meaning assigned to such term in Section 2.20(c). “Indebtedness” shall mean, with respect to any specified Person, any indebtedness of such Person (excluding accrued expenses and trade payables), whether or not contingent: (p) in respect of borrowed money; (q) evidenced by bonds, notes, debentures or similar instruments; (r) in respect of letters of credit, banker’s acceptances or other similar instruments (or reimbursement agreements in respect thereof); (s) representing Capital Lease Obligations; (t) representing the balance deferred and unpaid of the purchase price of any property or services due more than 60 days after such property is acquired or such services are completed; or (u) representing any Hedging Obligations, if and to the extent any of the preceding items (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person. Indebtedness shall be calculated without giving effect to the effects of Statement of Financial Accounting Standards No. 133 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under this Agreement as a result of accounting for any embedded derivatives created by the terms of such Indebtedness. “Indemnified Taxes” shall mean (a) all Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any Obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes.

Incremental Increase means, with respect to Operating Cash Flow for any fiscal year, an amount (expressed as a percentage) equal to (a) a fraction, the numerator of which is Operating Cash Flow for such fiscal year (the "Measuring Year") and the denominator of which is the average annual Operating Cash Flow for the fiscal years from the Base Year to the fiscal year immediately preceding the Measuring Year minus (b) 100%. Notwithstanding the foregoing, the Restricted Payments Basket shall not exceed $15,000,000 in the aggregate at any time. Nothing herein shall be deemed to restrict the payment of dividends by any Subsidiary to the Borrower.