Accordion Sample Clauses

Accordion. (a) At any time during the period from and after the Restatement Effective Date through but excluding the Revolver Maturity Date, at the option of Borrower (but subject to the conditions set forth in clause (b) below), the Revolver Commitments and the Maximum Revolver Amount may be increased by an amount in the aggregate for all such increases of the Revolver Commitments and the Maximum Revolver Amount not to exceed the Available Increase Amount (each such increase, an “Increase”). Agent shall invite each Lender to increase its Revolver Commitments (it being understood that no Lender shall be obligated to increase its Revolver Commitments) in connection with a proposed Increase, and if sufficient Lenders do not agree to increase their Revolver Commitments in connection with such proposed Increase, then Agent or Borrower may invite any prospective lender who is reasonably satisfactory to Agent and Borrower to become a Lender in connection with a proposed Increase (the date such Increase is made, the “Increase Date”). Any Increase shall be in an amount of at least $5,000,000 and integral multiples of $1,000,000 in excess thereof. In no event may the Revolver Commitments and the Maximum Revolver Amount be increased pursuant to this Section 2.14 on more than two occasions in the aggregate for all such Increases. Additionally, for the avoidance of doubt, it is understood and agreed that in no event shall the aggregate amount of the Increases to the Revolver Commitments exceed $10,000,000. (b) Each of the following shall be conditions precedent to any Increase of the Revolver Commitments and the Maximum Revolver Amount in connection therewith: (i) Agent or Borrower have obtained the commitment of one or more Lenders (or other prospective lenders) reasonably satisfactory to Agent and Borrower to provide the applicable Increase and any such Lenders (or prospective lenders), Borrower, and Agent have signed a joinder agreement to this Agreement (an “Increase Joinder”), in form and substance reasonably satisfactory to Agent, to which such Lenders (or prospective lenders), Borrower, and Agent are party, (ii) each of the conditions precedent set forth in Section 3.3 are satisfied, (iii) Borrower has delivered to Agent updated pro forma Projections (after giving effect to the applicable Increase) for Borrower and its Subsidiaries evidencing (A) that on a pro forma basis after giving effect to the applicable Increase, the Leverage Ratio of Borrower and its Subsidiaries a...

Accordion. Section 2.7 of the Loan Agreement is hereby deleted therefrom in its entirety and is of no further force and effect. Lenders hereby acknowledge and agree that the following conditions to the Accordion have been waived solely with respect to the increase of the Loan Amount pursuant to this Third Amendment: (a) the Loan-to-Value Ratio, based upon an updated Appraisal ordered by Agent at Borrower’s expense, not exceeding fifty percent (50%) on an “as is” basis and (b) the NOI of the Property providing for a Debt Yield of not less than sixteen percent (16%) based on the Loan Amount.

Accordion. The Borrower and any one or more Lenders or other banks, financial institutions or other entities may from time to time agree that such Lender shall increase the amount of its Commitment or such other Person shall provide an additional Commitment by executing and delivering to the Administrative Agent an Increased Facility Activation Notice specifying (i) the amount of such increased or additional Commitment, as applicable, and (ii) the applicable Increased Facility Closing Date. Notwithstanding the foregoing, (i) without the consent of the Required Lenders, the aggregate amount of incremental Commitments obtained after the Effective Date pursuant to this Section 2.19(a) shall not exceed $50,000,000 and (ii) without the consent of the Administrative Agent, each increase effected pursuant to this Section 2.19(a) shall be in a minimum amount of at least $10,000,000; provided that (1) no Lender shall have any obligation to participate in any increase described in this Section 2.19(a) unless it agrees to do so in its sole discretion; (2) any prospective lender (if not already a Lender or an affiliate of a Lender) providing any such additional Commitment shall be reasonably acceptable to the Administrative Agent; (3) after giving effect to such additional Commitment, the New Lender providing such additional Commitment shall have an aggregate Commitment of at least $5,000,000, unless otherwise agreed by the Administrative Agent; (4) on a pro forma basis after giving effect to such increased or additional Commitment, as applicable, no Default or Event of Default exists or would exist; (5) on a pro forma basis after giving effect to such increased or additional Commitment, as applicable, and assuming that the Commitments were fully utilized on the Increased Facility Closing Date, the Borrower would be in compliance with the covenant contained in Section 7.2 as of such day; and (6) the representations and warranties contained in Section 4 shall be true and correct in all material respects immediately prior to, and after giving effect to, the Increased Facility Closing Date.

Accordion. The Borrower shall have the right to request, upon at least sixty (60) days written notice to the Agent, to increase the amount of the Credit Facility by up to C$15,000,000 in the aggregate at any time, subject to a minimum amount of C$10,000,000 for each request, on or before the Maturity Date, to the extent that the Agent has received binding commitments from existing Lenders for the entire amount requested (the “New Commitments”), provided that (i) no Default or Event of Default shall have occurred and then be continuing (without having been cured or waived as provided in this Agreement) or shall result from such increase, (ii) no commitment of any Lender shall be increased without the written consent of such Lender, (iii) no Default or Event of Default shall have occurred or be continuing on the date such increase may take effect or after giving effect to the New Commitments, including without limitation, compliance with the financial covenants set forth in Section 12.2, (iv) the New Commitments of the Lenders shall be effected pursuant to an amendment to this Agreement in form and substance acceptable to the Agent executed and delivered by the Borrower, the other Obligors, the Lenders and the Agent, (v) the Borrower shall deliver or cause to be delivered any legal opinions or other documents reasonably requested by the Agent in connection with such transaction, and (vi) the Borrower shall pay to the Agent a fee to be determined at the time the request to draw the Accordion is made. No Lender shall be under any obligation or commitment to agree to any request under this ARTICLE 4 and if all conditions set forth herein for the New Commitments are not being complied with, the amount of the Credit Facility shall not be increased.

Accordion. Subject to clause 2.5 (Conditions) and the Borrower’s written request, the Lender may (but is not obliged to) agree to provide additional funding (the Accordion) to the Borrower (or as the Parties may otherwise agree) in the principal amount of up to USD 49,000,000 (forty nine million) to be provided: (a) by the Lender to the Borrower (or as the Parties otherwise agree) in one (1) or several instalments (for the avoidance of doubt, this clause shall not limit the number of such instalments) as the Parties may agree in writing or, if so agreed between the Parties in writing, in which case clause 2.3(e) shall apply mutatis mutandis; and (b) subject to the Parties agreeing the business plan of the Borrower.

Accordion. Upon the written request of the Borrowers (which request may be made by the Borrower only if no Default or Event of Default has occurred and is continuing), the Lenders agree to consider increasing the aggregate Revolving Commitments by $5,000,000.00, up to $50,000,000.00 in the aggregate, under the same terms and conditions as reflected herein, with any such increase requiring the unanimous written approval of the Administrative Agent and the Lenders. This accordion feature (the "Accordion Feature") shall be in the sole discretion of the Lenders and the Administrative Agent and shall not constitute an obligation or commitment to lend. If the Accordion Feature is agreed to by the Lenders and the Administrative Agent pursuant to the provisions of this Section 2.10, the Borrowers shall be required to take such steps (including without limitation the execution of such documents) as the Administrative Agent determines necessary to effectuate the Accordion Feature.

Accordion. (a) Subject to clause 2.5 (Conditions) and the Borrower’s written request, the Lender may (but is not obliged to) agree to provide additional funding (the Accordion) to the Borrower (or as the Parties may otherwise agree), in which case the Parties shall apply the following terms (without prejudice to the Parties’ right to agree otherwise in writing): (i) the Accordion being provided in the following (2) tranches: (A) USD20,000,000; and (B) USD30,000,000, in each case, to be provided: (A) by the Lender to the Borrower (or as the Parties otherwise agree) in one (I) or several instalments (for the avoidance of doubt, this clause shall not limit the number of such instalments) as the Parties may agree in writing or, if so agreed between the Parties in writing, as the as the Interim CEO reasonably directs, in which case clause 2.3(c) shall apply mutatis mutandis; and (B) subject to the Parties agreeing the business plan of the Borrower; (ii) any obligation to provide the Accordion commencing on the expiry of thirty (30) days following the first Initial Loan Disbursement Date or as the Parties otherwise agree in writing; and (iii) such other terms and conditions being agreed between the Patties, which shall be at all times consistent with the terms and conditions of the Initial Loan set out in this Agreement. (b) Unless the Patties agree otherwise in writing, clauses 2.3(f) and 2.3(g) shall apply mutatis mutandis to the Accordion provided pursuant to this clause 2.4.

Accordion. (a) At any time and from time to time on any Business Day until the Maturity Date, and so long as: (i) no Default or Event of Default has occurred and is continuing; (ii) the Borrower is in compliance with the financial covenants set out in Sections 11.1(m) to 11.1(o), on a pro forma basis; and (iii) any increase to the amount of the Facility would not trigger a Default or Event of Default, the Borrower may, by written notice to the Administrative Agent and the Lenders, request incremental increases to the Facility (each an “Accordion Request”) in an aggregate incremental amount not exceeding the greater of: (A) $50,000,000 and (B) an amount equal to the difference between the Total Commitment Amount as of the Closing Date and $100,000,000 (collectively, the “Accordion”). (b) Each Accordion Request shall be in a minimum amount of $5,000,000 (or in an amount corresponding to the then remaining unused amount of the Accordion, if such unused amount is then less than $5,000,000), provided that any increase of the Facility contemplated by any Accordion Request shall not cause the Facility to exceed $100,000,000. (c) Each Lender shall notify the Administrative Agent within thirty (30) days of receipt of an Accordion Request whether or not it agrees, in its sole discretion, to increase its Individual Commitment and, if so, whether by an amount equal to, greater than, or less than its Pro Rata Share of such requested increase. Any Lender which does not respond within such specified time period shall be deemed to have declined to increase its Individual Commitment. It is expressly understood that no Lender shall have any right or obligation to increase its Individual Commitment pursuant to an Accordion Request. (d) The Administrative Agent shall promptly notify the Borrower and each Lender of the Lenders' responses to each Accordion Request. If there is less than full participation by existing Lenders in an increase under an Accordion Request after the foregoing procedures are completed, then the Borrower may add one or more new Lenders reasonably acceptable to the Administrative Agent as parties to this Agreement for purposes of participating in such remaining portion. (e) After giving effect to the procedures described in this Section 2.4, each Lender participating in an increase to the Facility pursuant to an Accordion Request shall have its Individual Commitment increased to the extent of its participation in such increase. (f) The Borrower agrees to execute su...

Accordion. (a) At any time after the Closing Date, upon sixty (60) days' prior written notice to the Lenders and not more than three (3) times prior to the Maturity Date, the Borrower may request that the Lenders increase their respective Commitments under either Facility, provided that the following conditions are satisfied at the time of each request: (i) the Senior Funded Debt to EBITDA is below 2.00:1; (ii) the increase shall be in a minimum amount of Five Million Dollars ($5,000,000), and a multiple of One Million Dollars ($1,000,000), and the aggregate amount of such increase and all previous increases shall not exceed Thirty-Five Million Dollars ($35,000,000); (iii) the Borrower shall have provided to the Agent a certificate, supported by such financial projections of the Borrower as may be reasonably required by the Lenders, confirming that the Borrower will remain in compliance with all financial covenants set out herein at all times during the twelve (12) month period immediately following each such increase; (iv) all representations and warranties in Section 6.01 herein shall remain true and correct in all material respects immediately prior to the effective date of each such increase and will remain true and correct in all material respects immediately thereafter; and (v) no Default or Event of Default has occurred and is continuing immediately prior to or immediately after each such increase. (b) At the request of the Borrower, subject to obtaining the written consent of the Agent and the Issuing Bank not to be unreasonably withheld or delayed, a financial institution which is not a Lender at the date of this Agreement may establish a new Commitment, provided that all conditions in paragraph (a) are satisfied. Such financial institution shall thereby become a Lender for all purposes of this Agreement. (c) The establishment of any such increased or new Commitment shall be subject to the execution and delivery of an amendment to this Agreement made among the Borrower, the Agent, the Issuing Bank and those Lenders which have agreed to increase their Commitments or establish new Commitments, as the case may be, together with security confirmations, guarantee confirmations, additional security, officers' certificates, legal opinions and other documents as the Agent may consider necessary or desirable, including the allocation of such increased or new Commitment among the Facilities. Any such amendment shall be binding upon all Lenders, without the necessity o...