Common use of Extension Amendments Clause in Contracts

Extension Amendments. The Lenders hereby irrevocably authorize the Administrative Agent to enter into amendments to this Agreement and the other Loan Documents (an “Extension Amendment”) as may be necessary, advisable or appropriate in order to establish new tranches in respect of Extended Loans and Extended Commitments and such amendments as permitted by clause (c) below as may be necessary, advisable or appropriate in the reasonable opinion of the Borrower, in consultation with the Administrative Agent, in connection with the |US-DOCS\134569911.8148772134.4|| establishment of such new tranches of Loans or Commitments. This Section 2.18 shall supersede any provisions in Section 2.15 or 11.01 to the contrary. Except as otherwise set forth in an Extension Offer, there will be no conditions to the effectiveness of an Extension Amendment. Extensions will not constitute a voluntary or mandatory payment or prepayment for purposes of this Agreement.

Appears in 1 contract

Sources: Abl Revolving Credit Agreement (Petco Health & Wellness Company, Inc.)

Extension Amendments. The Lenders hereby irrevocably authorize the Administrative Agent to enter into amendments to the terms and conditions of this Agreement and the other Loan Other Documents (each, an “Extension Amendment”) as may be necessary, advisable or appropriate in order to establish new tranches Extended Tranches in respect of Extended Loans and Extended Commitments Commitments, and reflect the terms and conditions of such Extended Tranches and such amendments as permitted by clause (c) below as may be necessary, advisable or appropriate in the reasonable opinion of the BorrowerBorrowing Agent, in consultation with the Administrative Agent, in connection with the |US-DOCS\134569911.8148772134.4|| establishment of such new tranches of Loans or CommitmentsExtended Tranches. This Section 2.18 2.5 shall supersede any provisions in Section 2.15 2.2(d) or 11.01 Section 16.2 to the contrary. Except as otherwise set forth in an Extension Offer, there will be no conditions to the effectiveness of an Extension Amendment. Extensions will not constitute a voluntary or mandatory payment repayment, prepayment or prepayment acceleration for purposes of this Agreement.

Appears in 1 contract

Sources: Term Loan Credit and Security Agreement (Quantum Corp /De/)