Accordion Feature definition

Accordion Feature has the meaning assigned to such term in Section 2.10.
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Accordion Feature shall have the meaning set forth in Section 3(j) of this Agreement.
Sample 1
Accordion Feature means increases from time to time to the Revolving Credit Aggregate Commitment by an aggregate outstanding amount not to exceed Seventy Five Million Dollars ($75,000,000); provided (i) Borrower requests the Accordion Feature upon no less than twenty (20) Business Days’ prior written notice (except with respect to that portion of the Accordion Feature to be made available on the Effective Date, as specified on Schedule 1.2, as to which no prior notice shall be required), (ii) there is no Default or Event of Default in existence, and none will exist upon the making of such Accordion Feature (both before and immediately after giving effect to such Accordion Feature), and (iii) each Lender which desires to increase its Revolving Credit Commitment to participate in the Accordion Feature has obtained any necessary approvals therefor.
Sample 1

Examples of Accordion Feature in a sentence

  • If the Accordion Feature is agreed to by the Lenders and Agent pursuant to the provisions of this Section 2.10, the Borrower shall be required to take such steps (including without limitation the execution of such documents) as the Agent determines necessary to effectuate the Accordion Feature.

  • During fiscal 2014, the Company accessed the Accordion Feature (see below) under the Credit Agreement increasing commitments by $10.0 million to $165.0 million with the addition of another new lender joining the bank group.

  • If the Accordion Feature is agreed to by the Lenders and the Administrative Agent pursuant to the provisions of this Section 2.10, the Borrowers shall be required to take such steps (including without limitation the execution of such documents) as the Administrative Agent determines necessary to effectuate the Accordion Feature.

  • Each lender under the Third Amended and Restated Credit Agreement shall have the option to subscribe for a portion of the remaining Accordion Feature and any portion not so subscribed may be assumed by one or more of the existing lenders or by another Student Transportation Inc.

  • Accordion Feature: Provided no default or event of default has occurred and is continuing, the Borrower may request to increase the commitments of the Lenders under the (a) Revolving Credit Facility by an aggregate amount of up to $50,000,000 in minimum increments of $10,000,000, and (b) the Term Facility by an aggregate amount of up to $100,000,000 in minimum increments of $10,000,000, subject, in each case, to certain conditions to be determined.

  • The Accordion Feature may be provided by any existing Lender or new Lender; however, no Lender shall be required to assume any increase.

  • Accordion Feature Added to Credit Facility for Increase up to US$300 Million The amended credit facility allows Sandstorm to borrow up to US$225 million with an additional uncommitted accordion of up to US$75 million, for a total facility of up to US$300 million.

  • Minimum Adjusted Quick Ratio (Monthly) 1.00:1.00 :1.00 Yes No Minimum EBITDA (Quarterly) See Attached $ Yes No Maximum Debt to Annualized EBITDA (Quarterly) * :1.00 Yes No* * 2.25 to 1.00 required after implementation of the Accordion Feature but to be reported quarterly for purposes of determining applicable margins and letter of credit fees The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Certificate.

  • If the Accordion Feature has been implemented, measured as of the end of each calendar quarter, a Debt to Annualized EBITDA Ratio of not more than 2.25 to 1.00.

  • This accordion feature (the "Accordion Feature") shall be in the sole discretion of the Lenders and Agent and shall not constitute an obligation or commitment to lend.


More Definitions of Accordion Feature

Accordion Feature. Maximum Amount. Section 2.15(f) of the Credit Agreement is hereby amended and restated in its entirety to hereafter be and read as follows:
Sample 1
Accordion Feature means an increase to the Revolving Line to an amount equal to Seventy Five Million Dollars ($75,000,000); provided (i) Parent requests the Accordion Feature upon no less than thirty (30) Business Days’ prior written notice to Bank, (ii) there is no Default or Event of Default in existence, and none will exist upon the making of such Accordion Feature (both before and immediately after giving effect to such Accordion Feature), (iii) Bank has obtained the written commitment of an additional lender or lenders to fund such increase to the Revolving Line on terms and conditions satisfactory to Bank and Borrowers; (iv) Bank, Borrowers and such additional lender or lenders have executed all documents requested by Bank and such additional lender or lenders to evidence such additional commitment to lend; and (v) Borrowers have taken all other actions requested by Bank and such additional lender or lenders in connection therewith to the satisfaction of Bank and such lender or lenders in their reasonable business discretion.
Sample 1

Related to Accordion Feature

  • Customization means any customer-specific modification to software that requires changes to the software’s source code.

  • Customized Software or “Customization” means any Application Software code modified or amended on behalf of the Customer. Setting of parameters, parameterization or configuration is not a Customization.

  • Water feature means a design element where open water performs an aesthetic or recreational function. Water features include ponds, lakes, waterfalls, fountains, artificial streams, spas, and swimming pools (where water is artificially supplied). The surface area of water features is included in the high water use hydrozone of the landscape area. Constructed wetlands used for on-site wastewater treatment, habitat protection, or storm water best management practices that are not irrigated and used solely for water treatment or storm water retention are not water features and, therefore, are not subject to the water budget calculation.

  • CLASS Features means certain CCIS-based features available to Customers, including: Automatic Call Back; Caller Identification and related blocking features; Distinctive Ringing/Call Waiting; Selective Call Forward; and Selective Call Rejection.

  • Supported Hardware means the hardware and platforms that are listed at (i) xxxxx://xxxxxxxx.xxxxxx.xxx and xxxx://xxx.xxxxxx.xxx/resourcelibrary/articles/enterprise-linux-virtualization-support for Red Hat Enterprise Linux, OpenShift Container Platform and Red Hat Enterprise Virtualization Subscriptions, (ii) xxxx://xxx.xxxxx.xxx/products/platforms/application/supportedconfigurations/ for Red Hat JBoss Middleware Subscriptions, and (iii) xxxxx://xxxxxx.xxxxxx.xxx/knowledge/articles/66206 for Red Hat Gluster Storage Subscriptions, (iv) xxxxx://xxxxxx.xxxxxx.xxx/products/red-hat-ceph-storage for Red Hat Ceph Storage Subscriptions and (v) xxxx://xxxx.xxxxxxx.xxx/ansible- tower/latest/html/quickinstall/prepare.html#prerequisites-and-requirements for Ansible Tower Subscriptions. “Evaluation Subscriptions” are Subscription Services provided for the sole purpose of evaluating the suitability of the Subscription Services for your future purchase from Red Hat or through one of our authorized Business Partners (“Evaluation Purposes”), and not for Production Purposes, Development Purposes or any other purpose.

  • Service Order Form means our standard Service Order Form for Services, or any other order form that we agree with you in writing that incorporates the provisions of this DPA;

  • End User Agreement means any agreement that Eligible Users are required to sign in order to participate in this Contract including an end user agreement, customer agreement, memorandum of understanding, statement of work, lease agreement, service level agreement, or any other named separate agreement.

  • Product Schedule means PTC’s standard order form entitled “PTC Product Schedule” (including all schedules, attachments and other document(s) specifically referenced therein) or such alternative order form as may be submitted by Customer and accepted by PTC, in each case that specifies (i) the Licensed Products and/or Services ordered; and (ii) for Licensed Products, the installation address (including the Designated Country) and the Licence Term.

  • Milestone Schedule means Seller’s milestone schedule, the form of which is attached to this Agreement as Exhibit Q.

  • Programme of work means the Programme of work submitted by the contractor and approved by the Engineer-in-charge and includes an amendment thereto made from time to time and approved by the Engineer-in-charge;

  • Increased Facility Activation Notice means a notice substantially in the form of Exhibit E.

  • Supported Software means the supported software identified in the Proposal. System means the designated information technology environment in which the Software is to be used. Term means the term of this Agreement specified in clause 2.

  • Optional Extended Local Calling Scope Arrangement Traffic is traffic that under an optional Extended Local Calling Scope Arrangement chosen by the Customer terminates outside of the Customer’s basic exchange serving area.

  • Upgrade means a major version upgrade of any Platform software.

  • Activation Notice have the meanings ascribed thereto in Annex C.

  • Service Level Agreement (SLA means the Contractual Commitment that prevails between the Buyer and the Service Provider with regard to type of service to be provided, deliverables, desired performance level, reliability and responsiveness, monitoring process and service level reporting, response and issue resolution time-frame, repercussions / penalties / remedies for service provider not meeting its commitment. The SLA of a particular contract may carry the matrix regarding the delivery of the goods and/or services and the corresponding penalties or remedies and liquidated damages as applicable.

  • User Agreement means an agreement for the provision of Access to the Services.