Examples of Incremental Revolving Commitment in a sentence
Unless otherwise set forth in an amendment to this Agreement, all Loans made by the Lender on account of the Incremental Revolving Commitment (any such Loans, the “Incremental Revolving Loans”) shall have the same terms applicable to the Initial Revolving Loans set forth in this Agreement.
Subject to the terms and conditions of this Agreement and upon satisfaction of the conditions set forth herein, the Lender agrees to make Loans (the “Initial Revolving Loans”) to the Borrowers from time to time until the Commitment Termination Date in an aggregate principal amount at any one time not exceeding the amount set forth in Schedule I (the “Initial Revolving Commitment”), plus the amount of any Incremental Revolving Commitment.
The Administrative Agent shall inform all Lenders with an Existing Revolving Credit Commitment of the increase thereof by way of the Incremental Revolving Commitment and reallocate, with reasonable promptness, the Revolving Credit Exposure among the applicable Lenders.
Each Incremental Revolving Commitment shall be in an aggregate amount of $10,000,000 or any whole multiple of $500,000 in excess thereof (provided that such amount may be less than $10,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Revolving Commitments set forth in above).
The Administrative Agent shall record the Incremental Revolving Commitment as an increase of the Existing Revolving Credit Commitments and, after giving effect to this Agreement, the total Revolving Credit Commitments under the Credit Agreement shall be $60,000,000.