Terms of Incremental Commitments. (i) Except in the case of a newly established Incremental Term Loan Facility, each such Incremental Commitment (including any existing Incremental Term Loan Facility) shall be on the same terms as the Facility being increased and all incremental commitments and loans provided as part of a newly established Incremental Term Loan Facility, subject to subsection (b) above, shall be on terms agreed to by the Borrower and the Lenders providing such Incremental Term Loan Facility; and (ii) Each Incremental Term Loan Facility and the related Incremental Term Loans, subject to clause (ii) of the last proviso to Section 11.01, if applicable, will be on such terms (including as to amortization and maturity) as are agreed to by the Borrower and each Incremental Term Loan Lender with respect to such Incremental Term Loan Facility; provided that, if the terms of such Incremental Term Loan Facility and the related Incremental Term Loans (other than final maturity) are not the same as the terms of a then existing Incremental Term Loan Facility, the operational, technical and administrative provisions of such Incremental Term Loan Facility shall be reasonably acceptable to the Administrative Agent; provided, further that such Incremental Term Loans will not in any event have a maturity date earlier than the latest Maturity Date (including any extension option) of any then existing Facility.
Appears in 3 contracts
Sources: Credit Agreement (Acadia Realty Trust), Credit Agreement (Acadia Realty Trust), Credit Agreement (Acadia Realty Trust)
Terms of Incremental Commitments. The terms and provisions of Term Loans made pursuant to the Incremental Commitments shall be as follows:
(i) Except in terms and provisions with respect to interest rates and amortization schedule of Incremental Term Loans shall be as agreed upon between the case Borrower and the Incremental Lenders;
(ii) the final maturity date of a newly established any Incremental Term Loan Facility, each such Incremental Commitment shall be no earlier than the Term Loan Maturity Date of the existing Term Loans;
(including iii) the Weighted Average Life to Maturity of any existing Incremental Term Loan Facility) Loans shall be on no shorter than the same terms as shortest remaining average life to maturity of any of the Facility being increased and all incremental commitments and loans provided as part of a newly established existing Term Loans;
(iv) the interest rate margins for the new Incremental Term Loan Facility, subject to subsection (b) above, Loans shall be on terms agreed to determined by the Borrower and the Lenders providing Incremental Lenders; provided, however, that the interest rate margins for such Incremental Term Loan FacilityLoans shall be no greater than the highest interest rate margins that may, under any circumstances, be payable with respect to any existing Term Loans plus 50 basis points unless the interest rate margins of the applicable existing Term Loans are increased by an amount equal to (x) the excess of the interest rate margins of the Incremental Term Loans over the corresponding interest rate margins of the respective existing Term Loans minus (y) 50 basis points; and
(iiv) Each Incremental Term Loan Facility to the extent that the terms and the related Incremental Term Loans, subject to clause (ii) provisions of the last proviso Incremental Loans are not identical to Section 11.01, if applicable, will be on such terms (including as to amortization and maturity) as are agreed to by the Borrower and each Incremental Term Loan Lender with respect to such Incremental Term Loan Facility; provided that, if the terms of such Incremental Term Loan Facility and the related Incremental existing Term Loans (other than final maturityexcept to the extent permitted by clauses (i), (ii), (iii) are not the same as the and (iv) above), such terms of a then existing Incremental Term Loan Facility, the operational, technical and administrative provisions of such Incremental Term Loan Facility conditions shall be reasonably acceptable satisfactory to the Administrative Agent; provided, further that such Incremental Term Loans will not in any event have a maturity date earlier than the latest Maturity Date (including any extension option) of any then existing Facilityacting reasonably.
Appears in 2 contracts
Sources: Term Loan Credit Agreement (Delta Air Lines, Inc.), Term Loan Credit Agreement
Terms of Incremental Commitments. Unless otherwise agreed by Administrative Agent and the Lenders (including any Incremental Lender with regard to such Incremental Commitment):
(i) Except in The outstanding principal balance of the case of a newly established Credit Extensions made under each Incremental Term Loan FacilityFacility (other than quarterly installments made pursuant to Section 2.7(b)), each such Incremental Commitment (including any existing Incremental Term Loan Facility) shall be on the same terms as the Facility being increased together with all interest and all incremental commitments and loans provided as part of a newly established Incremental Term Loan Facility, subject to subsection (b) abovefees with respect thereto, shall be on terms agreed to by due and payable no earlier than the Borrower and the Lenders providing such Incremental Term Loan Facility; andMaturity Date;
(ii) Each The weighted average life to maturity of any Incremental Term Loan Facility and shall be no shorter than the related Incremental Term Loans, subject weighted average life to clause (ii) maturity of the last proviso to Section 11.01, if applicable, will be on such terms (including as to amortization and maturity) as are agreed to by the Borrower and each Incremental Term Loan Lender with respect outstanding immediately before giving effect to such Incremental Term Loan Facility; provided that, if the terms of such Incremental Term Loan Facility ,
(iii) The interest margins and the related Incremental Term Loans (other than final maturity) are not the same as the terms of a then existing Incremental Term Loan Facility, the operational, technical and administrative provisions of amortization schedule for any such Incremental Term Loan Facility shall be reasonably acceptable to determined by the Administrative Agent; provided, further that Borrower and the lenders of such Incremental Term Loans will not Loan Facility (subject to the preceding clause (ii)); provided that, in the event that the all-in-yield for any event have a maturity date earlier Incremental Term Loan Facility is greater than the latest Maturity Date all-in-yield for the Term Loans outstanding immediately before giving effect to such Incremental Term Loan Facility, then the Applicable Margin for such outstanding Term Loans shall be increased to the extent necessary so that the all-in-yield for such Incremental Term Loan Facility is not higher than the all-in-yield for the such outstanding Term Loans; and
(including iv) (A) any extension optionRevolving Commitment Increase shall be subject to the same terms and documentation as the Revolving Credit Facility, and (B) of any then Incremental Term Loan Facility shall be on terms (excluding pricing terms), when taken as whole, more restrictive than those applicable to the Revolving Credit Facility and the then-existing Term Loan Facility.
Appears in 1 contract
Sources: Credit Agreement (Bgsf, Inc.)
Terms of Incremental Commitments. (i) Except in Unless otherwise agreed by Administrative Agent and the case of a newly established Incremental Term Loan Facility, each such Incremental Commitment Lenders (including any existing Incremental Term Loan Facility) shall be on the same terms as the Facility being increased and all incremental commitments and loans provided as part of a newly established Incremental Term Loan Facility, subject Lender with regard to subsection (b) above, shall be on terms agreed to by the Borrower and the Lenders providing such Incremental Term Loan Facility; andCommitment):
(ii) Each 1.1.40.1. The outstanding principal balance of the Credit Extensions made under each Incremental Term Loan Facility and the related Incremental Term Loans, subject to clause (ii) of the last proviso other than quarterly installments made pursuant to Section 11.012.7(b)), if applicabletogether with all interest and fees with respect thereto, will shall be on such terms (including as due and payable no earlier than the Maturity Date;
1.1.40.2. The weighted average life to amortization and maturity) as are agreed to by the Borrower and each maturity of any Incremental Term Loan Lender with respect Facility shall be no shorter than the weighted average life to maturity of the Term Loan outstanding immediately before giving effect to such Incremental Term Loan Facility; provided that, if the terms of such Incremental Term Loan Facility ,
1.1.40.3. The interest margins and the related Incremental Term Loans (other than final maturity) are not the same as the terms of a then existing Incremental Term Loan Facility, the operational, technical and administrative provisions of amortization schedule for any such Incremental Term Loan Facility shall be reasonably acceptable to determined by the Administrative Agent; provided, further that Borrower and the lenders of such Incremental Term Loans will not Loan Facility (subject to the preceding clause (ii)); provided that, in the event that the all-in-yield for any event have a maturity date earlier Incremental Term Loan Facility is greater than the latest Maturity Date all-in-yield for the Term Loans outstanding immediately before giving effect to such Incremental Term Loan Facility, then the Applicable Margin for such outstanding Term Loans shall be increased to the extent necessary so that the all-in-yield for such Incremental Term Loan Facility is not higher than the all-in-yield for the such outstanding Term Loans; and
1.1.40.4. (including A) any extension optionRevolving Commitment Increase shall be subject to the same terms and documentation as the Revolving Credit Facility, and (B) of any then Incremental Term Loan Facility shall be on terms (excluding pricing terms), when taken as whole, more restrictive than those applicable to the Revolving Credit Facility and the then-existing Term Loan Facility.
Appears in 1 contract
Sources: Credit Agreement (Bgsf, Inc.)
Terms of Incremental Commitments. (i) Except in the case of a newly established Incremental Term Loan Facility, each such Incremental Commitment (including any existing Incremental Term Loan Facility) shall be on the same terms as the Facility being increased and all incremental commitments and loans provided as part of a newly established Incremental Term Loan Facility, subject to subsection (b) above, shall be on terms agreed to by the Borrower and the Lenders providing such Incremental Term Loan Facility; and
(ii) Each Incremental Term Loan Facility and the related Incremental Term Loans, subject to clause (ii) of the last proviso to Section 11.01, if applicable, will be on such terms (including as to amortization and maturity) as are agreed to by the Borrower and each Incremental Term Loan Lender with respect to such Incremental Term Loan Facility; 74 provided that, if the terms of such Incremental Term Loan Facility and the related Incremental Term Loans (other than final maturity) are not the same as the terms of a then existing Incremental Term Loan Facility, the operational, technical and administrative provisions of such Incremental Term Loan Facility shall be reasonably acceptable to the Administrative Agent; provided, further that such Incremental Term Loans will not in any event have a maturity date earlier than the latest Maturity Date (including any extension option) of any then existing Facility.
Appears in 1 contract