24Increase Option Clause Samples

24Increase Option. The Borrowers may from time to time until the Facility Termination Date elect to increase the Commitments or to add one or more tranches of senior secured term loans hereto (each such tranche of senior secured term loans, an “Incremental Term Loan”), in each case in minimum increments of $10,000,000 or such lower amount as the Borrowers and the Administrative Agent agree upon, so long as, after giving effect thereto, the aggregate amount of such increases and all such Incremental Term Loans does not exceed $125,000,000 (any such increase in the Commitments and/or Incremental Term Loans, the “Additional Commitments”). The Borrowers may arrange for any such Additional Commitments to be provided by one or more Lenders (each Lender so agreeing to an increase in its Commitment or to participate in such Incremental Term Loans, an “Increasing Lender”), or by one or more new banks, financial institutions or other entities that are Eligible Assignees (each such new bank, financial institution or other entity, an “Augmenting Lender”), to extend the Additional Commitments; provided that (i) each Augmenting Lender and each Increasing Lender shall be subject to the approval of the Borrowers, the Administrative Agent, and, in the case of an increase in the Commitments, the LC Issuers, such approvals of the Administrative Agent and the LC Issuers not to be unreasonably withheld, and (ii) (x) in the case of an Increasing Lender, the Borrowers and such Increasing Lender execute an agreement substantially in the form of Exhibit F hereto, and (y) in the case of an Augmenting Lender, the Borrowers and such Augmenting Lender execute an agreement substantially in the form of Exhibit G hereto. No consent of any Lender (other than the Lenders participating in the Additional Commitments) shall be required for any Additional Commitment pursuant to this Section 2.24. Additional Commitments created pursuant to this Section 2.24 shall become effective on the date agreed by the Borrowers, the Administrative Agent and the relevant Increasing Lenders or Augmenting Lenders, and the Administrative Agent shall notify each Lender thereof. Notwithstanding the foregoing, no Additional Commitments (or any Lender’s Additional Commitment) shall become effective under this section unless, (i) on the proposed date of the effectiveness of such increase or Incremental Term Loans, (A) the conditions set forth in paragraphs (a) and (b) of Section 4.2 shall be satisfied or waived by the Required Lenders...