Section # Extensions of Loans and Revolving Credit Commitments 107115
“Tranche” means # with respect to Term Loans or commitments, refers to whether such Term Loans or commitments are # Tranche B-23 Term Loans or Tranche B-23 Term Loan Commitments, # New Term Loans with the same terms and conditions made on the same day and increased from time to time or # Extended Term Loans (of the same Extension Series) and # with respect to Revolving Credit Loans or commitments, refers to whether such Revolving Credit Loans or commitments are # Initial Revolving Credit Commitments or Initial Revolving Credit Loans or # Extended Revolving Credit Loans or Extended Revolving Credit Commitments (of the same Extension Series).
“Initial Revolving Facility” means the Initial Revolving Credit Commitments and the Initial Revolving Loans and other extensions of credit thereunder.
“Class” # when used with respect to any Lender, refers to whether such Lender has a Loan or Commitment with respect to a particular Class of Loans or Commitments, # when used with respect to Commitments, refers to whether such Commitments are Non-Extended Revolving Credit Commitments, Extended Revolving Credit Commitments, Extending Revolving Credit Commitments of a given Extension Series, Commitments in respect of any Non-Extended Term Loans, Commitments in respect of any Extended Term Loans, Extending Term Loans of a given Extension Series, Revolving Commitment Increases, Other Revolving Credit Commitments, Initial Term Commitments, Incremental Term Commitments, Third Incremental Commitments, Additional Initial Term B-1 Commitments, Additional Incremental Term B-1 Commitments, Fourth Incremental Commitments or Refinancing Term Commitments of a given Refinancing Series and # when used with respect to Loans or a Borrowing, refers to whether such Loans, or the Loans comprising such Borrowing, are Non-Extended Revolving Credit Loans, Extended Revolving Credit Loans, Revolving Credit Loans under Revolving Commitment Increases, Revolving Credit Loans under Extending Revolving Credit Commitments of a given Extension Series, Revolving Credit Loans under Other Revolving Credit Commitments, Initial Term Loans (which, following the Amendment No. 1 Effective Date, will include the First Incremental Term Loans and, following the Amendment No. 2 Effective Date, will include the Second Incremental Term Loans), Third Incremental Term Loans, Initial Term B-1 Loans (which, following the Amendment No. 7 Effective Date, will include the Incremental Term B-1 Loans and, following the Amendment No. 8 Increase Effective Date, will include the Fourth Incremental Term Loans), Incremental Term Loans, Refinancing Term Loans of a given Refinancing Series, Non-Extended Term Loans, Extended Term Loans or Extending Term Loans of a given Extension Series. Revolving Credit Commitments, Incremental Revolving Credit Commitments, Extending Revolving Credit Commitments, Other Revolving Credit Commitments, Initial Term Commitments, Incremental Term Commitments or Refinancing Term Commitments (and in each case, the Loans made pursuant to such Commitments) that have different terms and conditions shall be construed to be in different Classes. Commitments (and, in each case, the Loans made pursuant to such Commitments) that have the same terms and conditions shall be construed to be in the same Class. There shall be no more than an aggregate of four Classes of revolving credit facilities and eight Classes of term loan facilities under this Agreement at any time outstanding under this Agreement.
Default occurs and is continuing and prior to the expiration of the Term Loan Standstill Period, at the request of the Required Revolving Credit under the Revolving Credit Facility only, and in such case only with respect to the Revolving Credit Commitments, Revolving Credit Loans, Swing Line Loans, L/C Obligations, any Letters of Credit and L/C Credit Extensions):
Section # Incremental Credit Extensions. (a) Incremental Commitments. The Borrowers may, at any time or from time to time after the Closing Date, by notice to the Administrative Agent from the Lead Borrower (an “Incremental Loan Request”), request # one or more new commitments which may be in the same Facility as any outstanding Term Loans of an existing Class (a “Term Loan Increase”) or a new Class of Term Loans (each, an “Incremental Term Facility”, collectively with any Term Loan Increase, the “Incremental Term Commitments”) and/or # one or more increases in the amount of the Revolving Credit Commitments or any Incremental Revolving Facility (a “Revolving Commitment Increase”) or the establishment of one or more new revolving credit commitments (each, an “Incremental Revolving Facility” and collectively with any Incremental Term Facility, an “Incremental Facility” and any such new commitments, collectively with any Revolving Commitment Increases, the “Incremental Revolving Credit Commitments” and the Incremental Revolving Credit Commitments, collectively with any Incremental Term Commitments, the “Incremental Commitments”), whereupon the Administrative Agent shall promptly deliver a copy to each of the . Incremental Commitments and Incremental Loans shall be # secured by the Collateral on a pari passu basis with the Liens securing the Initial Term Loans, # secured by the Collateral on a junior lien basis to the Liens securing the Initial Term Loans or # unsecured or not secured by the Collateral. For the avoidance of doubt, Incremental Revolving Credit Commitments and Incremental Revolving Credit Loans shall be secured by the Collateral on a pari passu basis with the Liens securing the Initial Term Loans.
Revolving Commitments. If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, each Borrower shall immediately prepay its Revolving Loans and/or the Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrowers shall not be required to Cash Collateralize the L/C Obligations pursuant to this [Section 2.05(b)(i)] unless after the prepayment in full of the Revolving Loans and the Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect.
one or more increases in the Revolving Credit Commitments (any such increase, an Incremental Revolving Credit Commitment and, together with the Incremental Term Loan Commitments, the Incremental Loan Commitments) to make revolving credit loans under the Revolving Credit Facility (any such increase, an Incremental Revolving Credit Increase and, together with the Incremental Term Loans, the Incremental Loans );
Required Lenders means, at any time, Lenders having Term Loans, Term Commitments and Revolving Commitments (or, if the Revolving Commitments have terminated, Revolving Credit Exposure) representing more than 50% of the aggregate Term Loans, Term Commitments and Revolving Commitments (or, if the Revolving Commitments have terminated, Revolving Credit Exposure); provided that the Loans and Commitments of any Defaulting Lender shall be disregarded for all purposes of this definition for so long as such Lender is a Defaulting Lender.
“Majority Facility ”: with respect to any Facility, the holders of more than 50% of the aggregate principal amount of the Incremental Term Loans (if any) or the Total Revolving Extensions of Credit, as the case may be, then outstanding under such Facility (or, in the case of the Revolving Credit Facility, prior to any termination of the Revolving Credit Commitments, the holders of more than 50% of the Total Revolving Credit Commitments).
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.