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Excerpt from Practical Guidance

Expert Analysis

Recent Trends In Incremental Loan Facilities

Law360, New York (November 2, 2015, 12:27 PM EST) -- Incremental loan facilities (also called an accordion) afford a borrower the ability to incur additional term loans or revolving loan commitments under an existing loan agreement if current and/or new lenders agree to provide them. These facilities enable the borrower to efficiently access additional funding because incremental debt incurrence requires the consent of only the lenders providing the financing and the administrative agent. Majority lender consent is not required. Rather, typically only a fairly simple amendment is needed, making incremental facilities an attractive option for borrowers, particularly for follow-on acquisition financing....

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