New Revolving Commitments definition
Examples of New Revolving Commitments in a sentence
The terms and provisions of any New Revolving Commitments shall be identical to the existing Revolving Commitments.
The Administrative Agent shall notify the Lenders promptly upon receipt of the Borrower’s notice of each Increased Amount Date and in respect thereof (y) the New Revolving Commitments and the New Revolving Loan Lenders or the New Term Loan Commitments and the New Term Loan Lenders, as applicable, and (z) in the case of each notice to any Revolving Loan Lender, the respective interests in such Revolving Loan Lender’s Revolving Loans, in each case subject to the assignments contemplated by this Section.
For the avoidance of doubt, the terms and provisions of the New Revolving Loans and New Revolving Commitments shall be documented solely as an increase, and shall be identical, to the then-existing Revolving Commitments.
No Lender shall be obligated to commit to provide any New Term Loans or New Revolving Commitments unless it so agrees.
The Borrower shall use the proceeds (if any) of the New Term Loans or New Revolving Commitments for any purpose not prohibited by this Agreement.