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Incremental Revolving Commitment
Incremental Revolving Commitment contract clause examples
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Each Incremental Revolving Lender agrees to provide incremental Revolving Commitments (with respect to each Incremental Revolving Lender, its “Incremental Revolving Commitment” and, collectively, the “Incremental Revolving Commitments”) in an amount equal to the amount set forth opposite the name of such Incremental Revolving Lender on [Schedule A] attached hereto. Each Incremental Revolving Lender hereby agrees that its Revolving Commitment, after giving effect to the Incremental Revolving Commitments, is as set forth on [Schedule B] attached hereto. On the date hereof, the risk participations of each Revolving Lender (including Incremental Revolving Lenders) in any outstanding L/C Obligations and in any outstanding Swing Line Loans shall be reallocated among the Revolving Lenders (including the Incremental Revolving Lenders) based on such Revolving Lender’s adjusted Applicable Percentage.

Commitment” means a Revolving Credit Commitment, Incremental Revolving Credit Commitment, Non-Extended Revolving Credit Commitment, Extended Revolving Credit Commitment, Extending Revolving Credit Commitment of a given Extension Series, Other Revolving Credit Commitment of a given Refinancing Series, Initial Term Commitment, First Incremental Commitment, Second Incremental Commitment, Third Incremental Commitment, Incremental Term Commitment, Refinancing Term Commitment of a given Refinancing Series, commitment in respect of any Non-Extended Term Loans, commitment in respect of any Extended Term Loans or commitment in respect of any Extending Term Loans, as the context may require.

Commitment” means a Revolving Credit Commitment, Incremental Revolving Credit Commitment, Non-Extended Revolving Credit Commitment, Extended Revolving Credit Commitment, Extending Revolving Credit Commitment of a given Extension Series, Other Revolving Credit Commitment of a given Refinancing Series, Initial Term Commitment, First Incremental Commitment, Second Incremental Commitment, Third Incremental Commitment, Incremental Term Commitment, Refinancing Term Commitment of a given Refinancing Series, commitment in respect of any Non-Extended Term Loans, commitment in respect of any Extended Term Loans or commitment in respect of any Extending Term Loans, as the context may require.

Revolving Credit Commitment. Subject to the terms and conditions of this Agreement, Bank agrees to make Advances of the Revolving Credit to Borrower from time to time on any Business Day during the period from the effective date hereof until (but excluding) the Termination Date in an aggregate amount not to exceed at any one time outstanding Fifty Million Dollars ($50,000,000) (the “Committed Amount”). All of such Advances hereunder shall be evidenced by the Revolving Credit Note, under which advances, repayments and readvances may be made, subject to the terms and conditions of this Agreement.

Revolving Loan Commitment. From time to time on any Business Day occurring prior to the Revolving Loan Commitment Termination Date, each Revolving Lender agrees to make loans (relative to such Revolving Lender, its “Revolving Loans”) to the Borrower in Dollars equal to such Revolving Lender’s Percentage of the aggregate amount of the Borrowing of the Revolving Loans requested by the Borrower to be made on such day; provided, however, that after giving effect to any Revolving Loan, the aggregate outstanding principal amount of all Revolving Loans and Swing Line Loans, together with the aggregate principal amount of all Letter of Credit Outstandings, # of all Revolving Lenders and the Swing Line Lender shall not exceed the Revolving Loan Commitment Amount or # of any Revolving Lender shall not exceed such Lender’s Percentage of the Revolving Loan Commitment Amount. Within the limits of each Revolving Lender’s Percentage of the Revolving Loan Commitment Amount, and subject to the other terms and conditions hereof, the Borrower may from time to time borrow, prepay and reborrow Revolving Loans.

Revolving Mortgage Commitment. Advances under a Project Mortgage which have been repaid, and unadvanced portions of a Project Mortgage which are no longer available to be advanced under such Project Mortgage, in each case, may form part of another Project Mortgage Commitment and may be drawn down again under another Project Mortgage at any time and from time to time subject to the provisions of Section 2.1(a) and all other relevant provisions hereunder in respect of establishing Project Mortgages and Drawdowns.

Revolving Loan Commitment. Subject to the terms and conditions set forth herein and pursuant to this Section 2.1, each Revolving Loan Lender severally agrees to make revolving loans (each a “Revolving Loan” and collectively the “Revolving Loans”) to the Borrowers, in Dollars, at any time and from time to time, during the period from and including the Effective Date to, but not including, the Revolving Loan Maturity Date or such earlier date as the Revolving Committed Amount has been terminated as provided herein; provided, however, that # the sum of the aggregate principal amount of Revolving Loans outstanding plus the aggregate amount of LOC Obligations outstanding shall not exceed the Revolving Committed Amount, # with respect to each individual Lender, such Lender’s pro rata share of outstanding Committed Loans plus such Lender’s pro rata share of outstanding LOC Obligations shall not exceed such Lender’s Revolving Loan Commitment and # the aggregate principal amount of such Revolving Loan shall not exceed the Revolving Credit Availability at such time. Subject to the terms of this Credit Agreement (including Section 3.3), the Borrowers may borrow, repay and reborrow Revolving Loans. The Administrative Agent shall keep a record of the purpose for which each of the Loans was advanced (and of repayments applied thereto), which record shall be conclusive absent prima facie error.

. The terms and provisions of the Revolving Loans comprising each Incremental Commitment shall be documented solely as an increase to the Commitments without any change of terms to this Agreement or otherwise reasonably acceptable to the [[Administrative Agent:Organization]]. The Incremental Commitments shall # rank pari passu in right of payment and of security with, and shall have the same guarantees as the existing Term Loans and Revolving Loans, as applicable; # in the case of Incremental Term Commitments, have # a maturity date that is not earlier than the Maturity Date of Term Loans made on the Effective Date and # a Weighted Average Life to Maturity that is no shorter than the Weighted Average Life to Maturity of the existing Term Loans; # in the case of Incremental Revolving Commitments, shall have maturity date that is not earlier than the Maturity Date of existing Revolving Loans or have amortization or scheduled mandatory commitment reductions (other than at maturity), # have a rate of interest as set forth in each applicable Increase Joinder; provided, however that, with respect to Incremental Term Commitments that are pari passu in right of payment and with respect to security with the existing Term Loans only, such interest rate will not be more than 0.50% higher than the corresponding interest rate applicable to the existing Term Loans, unless the interest rate margin with respect to the existing Term Loans, is adjusted to be equal to the interest rate with respect to the relevant Incremental Term Commitments, minus, 0.50%; provided, further, that in determining the applicable interest rate: # original issue discount or upfront fees paid by the Borrower in connection with the existing Term Loans, such Incremental Term Commitments (based on a four-year average life to maturity), shall be included, # arrangement, commitment, structuring and underwriting fees and any amendment fees paid or payable to the Joint Lead Arrangers (or their Affiliates) in their respective capacities as such in connection with the existing Term Loans, or to one or more arrangers (or their Affiliates) in their capacities as such applicable to such Incremental Term Commitments shall be excluded and # if such Incremental Term Commitments include any “LIBOR” interest rate floor greater than that applicable to the existing Loans, and such floor is applicable to the existing Term Loans, on the date of determination, such excess amount shall be equated to interest margin for determining the increase and # in the case of any Incremental Revolving Commitment, otherwise be treated the same as, and not be entitled to any additional benefits than or impose any more obligations than, the existing Loans and # in the case of any Incremental Term Commitment, all other terms of such Incremental Term Commitments, if not consistent with the Term Facility, will be agreed between the Borrower and the lenders providing such Incremental Term Commitments.

Incremental Commitment” means any Incremental Revolving Credit Commitment or Incremental Term Loan Commitment.

Incremental Commitment” means an Incremental Revolving Commitment or an Incremental Term Loan Commitment.

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