Incremental Facility Clauses
(Credit Agreement)

Summary

These incremental facility or incremental credit extensions clauses provide for additional revolver and/or term commitments and loans by existing lenders in a credit facility or by new lenders. These clauses include practical guidance and drafting notes. If used, these clauses should be added to the credit agreement article related to loan mechanics. See Incremental Term Loan Lender Agreement and Accordion Lender Supplement for accompanying templates. For a full listing of key content covering a credit agreement, see Credit Agreement Resource Kit. For a full listing of key content covering amendments, consents, and other modifications for loan documents, see Amendments, Consents, and Waivers Resource Kit.