Common use of Increase Joinder Clause in Contracts

Increase Joinder. (a) This Increase Joinder is an “Increase Joinder” referenced in Section 2.09(e) of the Term Loan Agreement. Borrowers, the Administrative Agent and the No. IC Incremental Term Lender hereby agree that the No. IC Incremental Term Commitments shall become effective upon the satisfaction of the conditions set forth in Section 3 hereof (the date on which such conditions are satisfied, the “Increase Effective Date”). On the Increase Effective Date immediately after the establishment of the No. IC Incremental Term Commitments, the No. IC Incremental Term Lender shall make No. IC Incremental Term Loans to the Borrowers in the amount of its No. IC Incremental Term Commitments. The No. IC Incremental Term Commitments shall be decreased to $0 immediately after giving effect to the No. IC Incremental Term Loans as contemplated by the preceding sentence. (b) Borrowers, the Administrative Agent and the No. IC Incremental Term Lender hereby agree that the No. IC Incremental Term Loans shall have terms identical to those of the Loans outstanding under the Term Loan Agreement immediately prior to the Increase Effective Date, other than to the extent set forth in any Fee Letter (the “Existing Term Loans”). After giving effect hereto on the Increase Effective Date, the No. IC Incremental Term Loans shall be deemed to be Loans and the Loans shall be deemed increased by the amount of the No. IC Incremental Term Loans. Without limiting the generality of the foregoing, the No. IC Incremental Term Loans shall: (i) constitute Indebtedness and have all of the benefits thereof, (ii) have terms, rights, remedies, privileges and protections identical to those applicable to the Existing Term Loans (other than to the extent set forth in any Fee Letter) and (iii) be secured by the Liens granted to the Collateral Agent for the benefit of the Secured Parties under the Security Instruments. (c) All Interest Periods applicable to Existing Term Loans shall continue in effect after the Increase Effective Date. The No. IC Incremental Term Loans shall be initially incurred pursuant to a single Borrowing of Eurodollar Loans, with such Borrowing to be subject to (x) Interest Periods which commence on the Increase Effective Date and end on the last day of the Interest Periods applicable to the Existing Term Loans and (y) the Adjusted LIBO Rate applicable to the Existing Term Loans. The Administrative Agent shall update the Register to account for the principal amount of the No. IC Incremental Term Loans.

Appears in 1 contract

Sources: Increase Joinder (Hornbeck Offshore Services Inc /La)

Increase Joinder. (a) This Increase Joinder is an “Increase Joinder” referenced in Section 2.09(e) of the Term Loan Agreement. Borrowers, the Administrative Agent and the No. IC 1B Incremental Term Lender hereby agree that the No. IC 1B Incremental Term Commitments shall become effective upon the satisfaction of the conditions set forth in Section 3 hereof (the date on which such conditions are satisfied, the “Increase Effective Date”). On the Increase Effective Date immediately after the establishment of the No. IC 1B Incremental Term Commitments, the No. IC 1B Incremental Term Lender shall make No. IC 1B Incremental Term Loans to the Borrowers in the amount of its No. IC 1B Incremental Term Commitments. The No. IC 1B Incremental Term Commitments shall be decreased to $0 immediately after giving effect to the No. IC 1B Incremental Term Loans as contemplated by the preceding sentence. (b) Borrowers, the Administrative Agent and the No. IC 1B Incremental Term Lender hereby agree that the No. IC 1B Incremental Term Loans shall have terms identical to those of the Loans outstanding under the Term Loan Agreement immediately prior to the Increase Effective Date, other than to the extent set forth in any Fee Letter (the “Existing Term Loans”). After giving effect hereto on the Increase Effective Date, the No. IC 1B Incremental Term Loans shall be deemed to be Loans and the Loans shall be deemed increased by the amount of the No. IC 1B Incremental Term Loans. Without limiting the generality of the foregoing, the No. IC 1B Incremental Term Loans shall: (i) constitute Indebtedness and have all of the benefits thereof, (ii) have terms, rights, remedies, privileges and protections identical to those applicable to the Existing Term Loans (other than to the extent set forth in any Fee Letter) and (iii) be secured by the Liens granted to the Collateral Agent for the benefit of the Secured Parties under the Security Instruments. (c) All Interest Periods applicable to Existing Term Loans shall continue in effect after the Increase Effective Date. The No. IC 1B Incremental Term Loans shall be initially incurred pursuant to a single Borrowing of Eurodollar Loans, with such Borrowing to be subject to (x) Interest Periods which commence on the Increase Effective Date and end on the last day of the Interest Periods applicable to the Existing Term Loans and (y) the Adjusted LIBO Rate applicable to the Existing Term Loans. The Administrative Agent shall update the Register to account for the principal amount of the No. IC 1B Incremental Term Loans.

Appears in 1 contract

Sources: Increase Joinder (Hornbeck Offshore Services Inc /La)

Increase Joinder. (a) This Each Increase Joinder is Lender committed to an “Increase Joinder” referenced in Section 2.09(e) of the Incremental Term Loan Agreement. Borrowers, the Administrative Agent and the No. IC Incremental Term Lender hereby agree that the No. IC Incremental Term Commitments shall become effective upon the satisfaction of the conditions or Additional Revolving Commitment as set forth in Section 3 hereof Schedule 1 hereto severally agrees (i) that it shall be considered a Lender for all purposes under the date on Loan Documents and agrees to be bound by the terms thereof, (ii) as to any Increase Lender which such conditions are satisfiedis to make Incremental Term Loans, the “Increase Effective Date”). On the Increase Effective Date immediately after the establishment to make its pro rata portion of the No. IC Incremental Term Commitments, the No. IC Incremental Term Lender shall make No. IC Incremental Term Loans to the Borrowers Borrower in the aggregate amount set forth in the Notice of its No. IC Borrowing for Incremental Term Loans delivered to the Administrative Agent in accordance with the Credit Agreement and (iii) as to any Increase Lender which is to make Additional Revolving Commitments, to make available its pro rata portion of the Additional Revolving Commitments to the Borrower in the aggregate amount set forth on Schedule I on the Facilities Increase Date. The terms and provisions of the Incremental Term Loans shall, except as set forth below, be identical to the Term Loans made on the Closing Date (the "Existing Term Loans"). The terms and provisions of the Additional Revolving Commitments shall be identical to the Revolving Credit Commitments. The No. IC aggregate amount of the Incremental Term Loans made under this Increase Joinder shall not exceed $115,000,000. The aggregate amount of the Additional Revolving Commitments made under this Increase Joinder shall be decreased not exceed $10,000,000. The Borrower shall use the proceeds of the Incremental Term Loans and Additional Revolving Commitments as set forth in the first recital to $0 immediately after this Increase Joinder. After giving effect to the No. IC Incremental Term Loans as contemplated by the preceding sentence. (b) Borrowers, the Administrative Agent to be made pursuant to this Increase Joinder and the No. IC Incremental Term Lender hereby agree that the No. IC Incremental Term Loans shall have terms identical to those of the Loans outstanding under the Term Loan Agreement immediately repayments and prepayments prior to the Increase Effective Date, other than to date hereof of the extent set forth in any Fee Letter (the “Existing Term Loans”). After giving effect hereto on the Increase Effective Date, the No. IC Incremental Term Loans shall be deemed to be Loans and the Loans shall be deemed increased by the amount schedule of repayments under Section 2.6(b) of the No. IC Incremental Term Loans. Without limiting the generality of the foregoing, the No. IC Incremental Term Loans shall: Credit Agreement (i) constitute Indebtedness and have all of the benefits thereof, (ii) have terms, rights, remedies, privileges and protections identical to those applicable to the Existing Term Loans (other than to the extent set forth in any Fee Letter) and (iii) be secured by the Liens granted to the Collateral Agent for the benefit of the Secured Parties under the Security Instruments. (c) All Interest Periods applicable to Existing Term Loans shall continue in effect after the Increase Effective Date. The No. IC Incremental Term Loans shall be initially incurred pursuant to a single Borrowing of Eurodollar Loans, with such Borrowing to be subject to (x) Interest Periods which commence on the Increase Effective Date and end on the last day of the Interest Periods applicable to the including both Existing Term Loans and (y) the Adjusted LIBO Rate applicable to the Existing Term Loans. The Administrative Agent shall update the Register to account for the principal amount of the No. IC Incremental Term Loans.) shall be as follows (without giving effect to any further prepayments after the date hereof): Term Loan Maturity Date $248,303,299.52

Appears in 1 contract

Sources: Increase Joinder (Prestige Brands Holdings, Inc.)

Increase Joinder. Each Increase Lender hereby agrees to provide Incremental Tranche B Commitments as set forth in Schedule 1 hereto and severally agrees (ai) This that it shall be considered a Lender for all purposes under the Loan Documents and agrees to be bound by the terms thereof; (ii) severally agrees to make its pro rata portion (based on the amount of such Increase Joinder is an “Lender’s Incremental Tranche B Commitment divided by the Incremental Tranche B Commitments of all Increase Joinder” referenced in Section 2.09(eLenders) of the Term Loan Agreement. Borrowers, Incremental Tranche B Loans requested to be borrowed on any Drawing Date (as defined below) to the Administrative Borrower in accordance with the terms of this Increase Joinder; provided that no Increase Lender shall be required to make any Incremental Tranche B Loans in an amount in excess of its Incremental Commitment; (iii) appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the No. IC Incremental Term Lender hereby agree other Loan Documents as are delegated to the Agent by the terms thereof, together with such powers as are reasonably incidental thereto; and (iv) agrees that the No. IC Incremental Term Commitments shall become effective upon the satisfaction it will perform in accordance with their terms all of the conditions obligations which by the terms of the Credit Agreement and this Increase Joinder are required to be performed by it as an Increase Lender. The terms and provisions of the Incremental Tranche B Loans shall, except as set forth in Section 3 hereof (the date on which such conditions are satisfiedbelow, the “Increase Effective Date”). On the Increase Effective Date immediately after the establishment of the No. IC Incremental Term Commitments, the No. IC Incremental Term Lender shall make No. IC Incremental Term Loans be identical to the Borrowers in Tranche B Loans made on the amount of its No. IC Incremental Term Commitments. The No. IC Incremental Term Commitments shall be decreased to $0 immediately after giving effect to the No. IC Incremental Term Loans as contemplated by the preceding sentence. (b) Borrowers, the Administrative Agent and the No. IC Incremental Term Lender hereby agree that the No. IC Incremental Term Loans shall have terms identical to those of the Loans outstanding under the Term Loan Agreement immediately prior to the Increase Effective Date, other than to the extent set forth in any Fee Letter Closing Date (the “Existing Term Tranche B Loans”). After giving effect hereto on the Increase Effective Date, the No. IC Incremental Term Loans shall be deemed to be Loans and the Loans shall be deemed increased by the The aggregate amount of the No. IC Incremental Term Loans. Without limiting the generality of the foregoing, the No. IC Incremental Term Tranche B Loans shall: (i) constitute Indebtedness and have all of the benefits thereof, (ii) have terms, rights, remedies, privileges and protections identical to those applicable to the Existing Term Loans (other than to the extent set forth in any Fee Letter) and (iii) be secured by the Liens granted to the Collateral Agent for the benefit of the Secured Parties made under the Security Instrumentsthis Increase Joinder shall not exceed $50,000,000. (c) All Interest Periods applicable to Existing Term Loans shall continue in effect after the Increase Effective Date. The No. IC Incremental Term Loans shall be initially incurred pursuant to a single Borrowing of Eurodollar Loans, with such Borrowing to be subject to (x) Interest Periods which commence on the Increase Effective Date and end on the last day of the Interest Periods applicable to the Existing Term Loans and (y) the Adjusted LIBO Rate applicable to the Existing Term Loans. The Administrative Agent shall update the Register to account for the principal amount of the No. IC Incremental Term Loans.

Appears in 1 contract

Sources: Increase Joinder (Revel Entertainment Group, LLC)

Increase Joinder. (a) This Increase Joinder is an “Increase Joinder” referenced referred to in Section 2.09(e2.19(c) of the Term Loan Credit Agreement. BorrowersBorrower, the Administrative Agent and the No. IC Incremental Term Lender Revolving Lenders hereby agree that the No. IC Incremental Term Revolving Commitments shall become effective upon the satisfaction of the conditions set forth in Section 3 2 hereof (the date on which such conditions are satisfied, the “Increase Effective Date”). On the Increase Effective Date immediately after the establishment of the No. IC Incremental Term Commitments, the No. IC Incremental Term Lender shall make No. IC Incremental Term Loans to the Borrowers in the amount of its No. IC Incremental Term Commitments. The No. IC Incremental Term Commitments shall be decreased to $0 immediately after giving effect to the No. IC Incremental Term Loans as contemplated by the preceding sentence. (b) BorrowersBorrower, the Administrative Agent and the No. IC Incremental Term Lender Revolving Lenders hereby agree that the No. IC Incremental Term Loans Revolving Commitments shall have terms identical to those of the Loans outstanding under the Term Loan Agreement immediately prior to the Increase Effective Date, existing Revolving Commitments (other than with respect to upfront fee pricing) and rank pari passu in right of payment and right of security in respect of the extent set forth in any Fee Letter (Collateral with the “Existing Term Loans”)existing Revolving Commitments. After giving effect hereto on the Increase Effective Date, the No. IC Incremental Term Loans Revolving Commitments shall be deemed to be Loans Revolving Commitments and the Loans Revolving Commitments shall be deemed increased by the amount of the NoIncremental Facility. IC Each Incremental Term Loans. Without limiting Revolving Lender’s several Incremental Revolving Commitment shall be in the generality of the foregoing, the No. IC Incremental Term Loans shall: (i) constitute Indebtedness and have all of the benefits thereof, (ii) have terms, rights, remedies, privileges and protections identical to those applicable to the Existing Term Loans (other than to the extent amount set forth in any Fee Letter) and (iii) be secured by the Liens granted to the Collateral Agent for the benefit of the Secured Parties under the Security Instrumentson Schedule A hereto. (c) All Interest Periods applicable to Existing Term Loans shall continue in After giving effect after hereto on the Increase Effective Date. The No. IC , there shall be $0 of further capacity to effectuate Incremental Revolving Commitments and/or Incremental Term Loans shall be initially incurred Loan Commitments pursuant to a single Borrowing of Eurodollar Loans, with such Borrowing to be subject to (xSection 2.19(a) Interest Periods which commence on the Increase Effective Date and end on the last day of the Interest Periods applicable to the Existing Term Loans and (y) the Adjusted LIBO Rate applicable to the Existing Term Loans. The Administrative Agent shall update the Register to account for the principal amount of the No. IC Incremental Term LoansCredit Agreement.

Appears in 1 contract

Sources: Increase Joinder (Regency Energy Partners LP)