Example ContractsClausesavailability of facilityVariants
Availability of Facility
Availability of Facility contract clause examples

Availability. Following the Closing Date and subject to the conditions of this Section 2.04, upon notice to the [[Administrative Agent:Organization]] (which shall promptly notify the Lenders), the may from time to time request the addition of one or more tranches of term loans (an “Incremental Term Facility”) and/ or increases in the Delayed Draw Term Loans under the Delayed Draw Term Loan Facility (“Incremental Delayed Draw Term Loans”) by an amount not exceeding, in the aggregate, $200,000,000; provided that, unless otherwise agreed by the [[Administrative Agent:Organization]] that any such request for an Incremental Term Loan Facility or Incremental Delayed Draw Term Loans shall be in a minimum amount of $25,000,000 and in increments of $5,000,000 in excess thereof, or if less, the entire remaining available amount. At the time of sending such notice, the (in consultation with the [[Administrative Agent:Organization]]) shall specify the time period within which each is requested to respond (which shall in no event be less than ten (10) Business Days from the date of delivery of such notice to the Lenders) and the may also invite prospective lenders to respond.

Availability. Following the Closing Date and subject to the conditions of this Section 2.05, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the [[Consolidated Parties:Organization]] may from time to time request the addition of one or more tranches of term loans (an “Incremental Term Facility”) and/or increases in the Aggregate Revolving Credit Commitments (“Incremental Revolving Commitments”) by an amount not exceeding, in the aggregate, $500,000,000; provided that, unless otherwise agreed by the Administrative Agent that any such request for an increase or the addition of a term loan tranche shall be in a minimum amount of $25,000,000 and in increments of $5,000,000 in excess thereof, or if less, the entire remaining available amount. At the time of sending such notice, the [[Consolidated Parties:Organization]] (in consultation with the Administrative Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten (10) Business Days from the date of delivery of such notice to the Lenders) and the [[Consolidated Parties:Organization]] may also invite prospective lenders to respond.

# Elections. Each shall notify the [[Administrative Agent:Organization]] within such time period whether or not it agrees to provide a portion of the Incremental Term Facility and/or Incremental Delayed Draw Term Loans and, if so, whether by an amount equal to, greater than, or less than its Pro Rata Share of such requested Incremental Term Facility and/or Incremental Delayed Draw Term Loans. Any not responding within such time period shall be deemed to have declined to provide a portion of the Incremental Term Facility and/or Incremental Delayed Draw Term Loans, as applicable. Each prospective shall notify the [[Administrative Agent:Organization]] within such time period whether or not it agrees to fund any portion of the requested Incremental Term Facility and/or Incremental Delayed Draw Term Loans and, if so, by what amount. Any prospective not responding within such time period shall be deemed to have declined to fund any portion of the Incremental Term Facility and/or Incremental Delayed Draw Term Loans, as applicable.

Notification by [[Administrative Agent:Organization]]; Additional Lenders. The [[Administrative Agent:Organization]] shall notify the and each of the Lenders’ and prospective lenders’ responses to each request made hereunder. To achieve the full amount of a requested Incremental Term Facility or Incremental Delayed Draw Term Loans, the may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the [[Administrative Agent:Organization]], the and their respective counsel. If any prospective agrees to fund any portion of the requested Incremental Term Facility or and/or Incremental Delayed Draw Term Loans (an “Additional ”), such Additional shall become a hereunder pursuant to such joinder agreement, provided that such Additional shall have been approved by the [[Administrative Agent:Organization]] (such approval not to be unreasonably withheld or delayed).

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.