Example ContractsClausesfixed incremental amountVariants
Remove:

Incremental Conditions. The following shall be conditions precedent to the effectiveness of any Incremental Loan: # each Lender agreeing to provide an Incremental Commitment (each such Lender, an “Incremental Lender”) shall have delivered to the Agent, by no later than (London, England time) on the Incremental Effective Date, an appropriate Lender Assumption Agreement in substantially the form of [Exhibit G] hereto (a “Lender Assumption Agreement”), duly executed by such Incremental Lender and the Borrower, # no Default or Unmatured Default shall have occurred and be continuing immediately prior to and immediately after giving effect to the Incremental Loan, # the representations and warranties set forth in [Article V] shall be deemed to be made and shall be true and correct in all material respects (or in all respects if already qualified as to materiality) on and as of the effective date of such Incremental Loan (except to the extent such representations and warranties relate to an earlier date, in which case they shall be true and correct in all material respects, or in all respects if already qualified as to materiality, as of such earlier date), # the Borrower shall be in pro forma compliance with the financial covenant in [Section 6.11] on the date of incurrence of the Incremental Loan and as of the end of the immediately preceding fiscal quarter for which financial statements have been delivered, in each case after giving effect to such increase and # in the event the Incremental Commitment does not become effective on the Execution Date, the Agent shall have received (with copies for each Lender, including each such Incremental Lender) by no later than (London, England time) on the applicable Incremental Effective Date a certificate of a Financial Officer, stating that the Board of Directors of the Borrower has adopted resolutions authorizing the Borrower to borrow money pursuant to this Agreement from time to time in an aggregate principal amount at any one time outstanding in an amount at least equal to the Aggregate Commitment, after giving effect to the pending Incremental Commitment, and that such resolutions remain in full force and effect and have not been modified or rescinded or attaching and certifying, if applicable, any amendments to such resolutions or supplemental borrowing resolutions. The Borrowing Notice delivered pursuant to [Section 2.4.1] shall constitute a representation and warranty by the Borrower that the conditions contained in the preceding [clauses (b), (c), and (d)])])], have been satisfied.

Incremental

Conditions. The following shall be conditionsAs a condition precedent to the effectiveness of any Incremental Loan: # each Lender agreeing to provide an Incremental Commitment (each such Lender, an “Incremental Lender”)Commitments, shall have delivereddeliver to the Agent, by no later than (London, England time)Administrative Agent and the Lenders # such information as may be requested pursuant to [[Section 4.01(a)(x), (ii)])]])] legal opinions of the type delivered on the IncrementalClosing Date to the extent reasonably requested by, and in form and substance reasonably satisfactory to, the Administrative Agent and # a certificate of each Loan Party dated as of the Increase Effective Date, an appropriate Lender Assumption Agreement in substantiallyDate signed by a Responsible Officer of such Loan Party # certifying and attaching the form of [Exhibit G] hereto (a “Lender Assumption Agreement”), duly executedresolutions adopted by such Incremental LenderLoan Party approving or consenting to such increase, and the Borrower, # no Default or Unmatured Default shall have occurredcertifying that, before and be continuing immediately prior to and immediately after giving effect to the Incremental Loan,such increase, # the representations and warranties set forthcontained in [Article V] shall be deemed to be made and shall bethe other Loan Documents are true and correct in all material respects (or in all respects if already qualified as to materiality) on and as of the effective date ofIncrease Effective Date, except # if a qualifier relating to materiality, Material Adverse Effect or other similar concept applies, such Incremental Loan (exceptrepresentation or warranty is true and correct in all respects, # to the extent that such representations and warranties relatespecifically refer to an earlier date, in which case they shall beare true and correct in all material respects, or in all respects if already qualified as to materiality, as of such earlier date)date, and # that for purposes of this [Section 2.14], the representations and warranties contained in subsections [[(a) and (b) of Section 5.05]5]] shall be deemed to refer to the most recent statements furnished pursuant to [clauses [(a) and (b)])]], respectively, of [Section 6.01], # the Borrower shall be in pro forma compliance with the financial covenant in [Section 6.11] on the date of incurrence of the Incremental Loan and as of the end of the immediately preceding fiscal quarter for which financial statements have been delivered, in each case after giving effect to such increaseIncremental Commitments (assuming that such Incremental Commitments have been fully utilized), is in compliance on a pro forma basis with the financial covenant set forth in [Section 7.05], and # inno Default exists or will result from the event the Incremental Commitment does not become effectiveborrowings to be made on the Execution Date, the Agent shall have received (with copies for each Lender, including eachIncrease Effective Date; provided that if such Incremental Lender) by no later than (London, England time)Commitments are being provided in connection with a Limited Conditionality Acquisition, such certificate shall provide that the above requirements in this [clause (iii)] were satisfied in accordance with [Section 1.10]. The Borrowers shall prepay any Loans outstanding on the applicable IncrementalIncrease Effective Date a certificate of a Financial Officer, stating that the Board of Directors of the Borrower has adopted resolutions authorizing the Borrower to borrow money pursuant to this Agreement from time to time in an aggregate principal amount at(and pay any one time outstanding in an amount at least equal to the Aggregate Commitment, after giving effect to the pending Incremental Commitment, and that such resolutions remain in full force and effect and have not been modified or rescinded or attaching and certifying, if applicable, any amendments to such resolutions or supplemental borrowing resolutions. The Borrowing Notice deliveredadditional amounts required pursuant to [Section 2.4.1] shall constitute a representation and warranty by3.05]) to the Borrower thatextent necessary to keep the conditions containedoutstanding Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the preceding [clauses (b), (c), and (d)])])], have been satisfied.Revolving Credit Commitments under this Section.

Select clause to view document information.

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.