Common use of Accordion Option Clause in Contracts

Accordion Option. The option to the Borrower, subject to the provisions of §2.2 of this Agreement, to increase the Facility and Total Commitment by an amount of $10,000,000 per request and in the aggregate $20,000,000 (the “Accordion Amount”) and thereby increase the Facility in the Total Commitment to a maximum principal amount of up to $80,000,000.00.

Appears in 1 contract

Sources: Credit Agreement (Monmouth Real Estate Investment Corp)

Accordion Option. The option to the Borrower, subject to the provisions of §2.2 of this Agreement, to increase the Facility and Total Commitment by an amount of $10,000,000 per request and in the aggregate $20,000,000 (the “Accordion Amount”) and thereby increase the Facility in the Total Commitment to a maximum principal amount of up to $80,000,000.0060,000,000.00.

Appears in 1 contract

Sources: Credit Agreement (Monmouth Real Estate Investment Corp)