Incremental Revolving Credit Increase definition

Incremental Revolving Credit Increase has the meaning assigned thereto in Section 5.13(a)(ii).

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

Incremental Revolving Credit Increase means as is specified in Section 5.7 [Incremental Loans].

Examples of Incremental Revolving Credit Increase in a sentence

• Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower proposes that any Incremental Revolving Credit Increase shall be effective.

• The Administrative Agent and the Borrower shall determine the effective date (each, an “Increase Effective Date”) and the final allocation of each Incremental Revolving Credit Increase or Incremental Term Loan, as applicable.

• The Administrative Agent shall promptly notify the Borrower and the Appropriate Lenders of the final allocation of the Incremental Revolving Credit Increase or the Incremental Term Loan, as applicable, and the Increase Effective Date.

• The Borrower shall use the proceeds of any Incremental Term Loan and any Incremental Revolving Credit Increase as permitted by Section 5.13.

• The Borrower shall use the proceeds of any Incremental Term Loan and any Incremental Revolving Credit Increase as permitted pursuant to Section 5.13, as applicable.

• The increase of the Canadian Revolving Commitments on the Second Amendment Effective Date as set forth in this Section 3 shall be deemed to constitute an exercise of the Borrowers’ right to request an increase pursuant to Section 2.25 of the Credit Agreement and the Increase Amount Date of such Incremental Revolving Credit Increase shall be deemed to be the Second Amendment Effective Date.

• To achieve the full amount of any requested Incremental Loan Commitments and subject to the approval of the Administrative Agent and, in the case of any Incremental Revolving Credit Increase, each L/C Issuer and the Swing Line Lender (which approvals shall not be unreasonably withheld or delayed), the Borrower may also invite additional Eligible Assignees to become Lenders.

• No Default or Event of Default exists or would exist immediately after giving effect to the transactions contemplated by the Second Amendment and the making of any Incremental Revolving Credit Increase.

• No existing Lender shall be obligated to participate in any Incremental Revolving Credit Increase, and each Lender’s decision to provide (or not provide) an Incremental Revolving Credit Commitment in any instance shall be made in such Lender’s sole and absolute discretion in each case.

• Agent shall have received from the Administrative Borrower, a Compliance Certificate demonstrating that US Borrower is in pro forma compliance with the financial covenants set forth in Section 5.7 of the Credit Agreement for the most recently completed fiscal quarter after giving effect to the Incremental Revolving Credit Increase (assuming that the entire Incremental Revolving Credit Increase is fully funded on the Third Amendment Effective Date) and the use of proceeds thereof.

More Definitions of Incremental Revolving Credit Increase

Incremental Revolving Credit Increase shall have the meaning assigned to such term in Section 2.25. “Indebtedness” of any person shall mean, without duplication, (a) all obligations of such person for borrowed money, (b) all obligations of such person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such person upon which interest charges are customarily paid (excluding trade accounts payable and accrued obligations incurred in the ordinary course of business), (d) all obligations of such person under conditional sale or other title retention agreements relating to property or assets purchased by such person, (e) all obligations of such person issued or assumed as the deferred purchase price of property or services (excluding trade accounts payable and accrued obligations incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such person, whether or not the obligations secured thereby have been assumed (provided that, for purposes hereof, the amount thereof shall be limited to the lesser of (i) the amount of such Indebtedness and (ii) the fair market value of such property), (g) all Guarantees by such person of Indebtedness of others, (h) all Capital Lease Obligations of such person, (i) all obligations of such person as an account party in respect of letters of credit and (j) all obligations of such person in respect of bankers’ acceptances. The Indebtedness of any person shall include the Indebtedness of any partnership in which such person is a general partner, except to the extent that, by its terms, such Indebtedness is nonrecourse to such person. “Indemnified Liabilities” shall have the meaning assigned to such term in Section 9.05(b). “Indemnified Taxes” shall mean (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of a Loan Party under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. “Indemnitee” shall have the meaning assigned to such term in Section 9.05(b). “Insolvency Law” shall mean, to the extent applicable, (a) Title 11 of the United States Code, (b) the Bankruptcy and Insolvency Act (Canada), (c) the Companies’ Creditors Arrangement Act (Canada), (d) Chapter 5 of the Australian Corporations Act; (e) any similar federal, provincial, state, local or foreign ...

Incremental Revolving Credit Increase is defined in Section 2.22.

Incremental Revolving Credit Increase shall have the meaning set forth in Section 2.16(a) of this Agreement.

Incremental Revolving Credit Increase means as is specified in Section 2.10. “Incremental Term Loan” means as is specified in Section 2.10.

Incremental Revolving Credit Increase and, together with the Incremental Term Loans, the “Incremental Loans “); provided that (1) the total aggregate initial principal amount (as of the date of incurrence thereof) of such requested Incremental Loan Commitments and Incremental Loans (when combined with the aggregate amount of any substantially simultaneous issuance of Incremental Notes) shall not exceed the Incremental Facilities Limit and (2) the total aggregate amount for each Incremental Loan Commitment (and the Incremental Loans made thereunder) shall not be less than a minimum principal amount of $50,000,000 or, if less, the remaining amount permitted pursuant to the foregoing clause (1). Each such notice shall specify the date (each, an “Incremental Effective Date”) on which the Parent Borrower proposes that any Incremental Loan Commitment shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to Administrative Agent (or such shorter period as may be approved by the Administrative Agent). The Parent Borrower may invite any Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person that meets the requirements of Section 13.7 (but subject to any consents that may be required pursuant to Section 13.7(b)(i)), to provide an Incremental Loan Commitment (any such Person, an “Incremental Lender”). Any proposed Incremental Lender offered or approached to provide all or a portion of any Incremental Loan Commitment may elect or decline, in its sole discretion, to provide such Incremental Loan Commitment or any portion thereof. Any proposed Incremental Lender not responding by the Incremental Effective Date shall be deemed to have declined to provide an Incremental Loan Commitment or any portion thereof. Each Incremental Lender shall become a Lender or make its Incremental Loan Commitment under this Agreement pursuant to an amendment (an “Incremental Facility Amendment”) to this Agreement giving effect to the modifications permitted by this Section 2.8 and, as appropriate, the other Loan Documents, executed by the Credit Parties, each Incremental Lender with respect to the Incremental Loan under the Incremental Facility Amendment (to the extent applicable) and the Administrative Agent; provided, that with the consent of each Incremental Lender with respect to the Incremental Loan under the Incremental Facility Amendment, the Administrative Agent may execute such Incremental Facility Amendment on behalf...