Adjustment of Commitments. (a) OPTIONAL INCREASE OF REVOLVING AND TERM B COMMITMENTS.
(i) The Company shall have the right to give the Administrative Agent, after the Closing Date, a Facilities Increase Notice to request an increase (each a "FACILITIES INCREASE") in the aggregate Revolving Credit Commitments or the disbursement of additional Term B Loans in excess of the Term B Loans previously disbursed, in a principal amount not to exceed $75,000,000 in the aggregate for all such requests or pursuant to a new tranche of term loans; PROVIDED, HOWEVER, that (A) no Facilities Increase in the Revolving Credit Commitments shall be effective later than one year prior to the Revolving Termination Date, (B) no Facilities Increase in the Term B Commitments or that is a new tranche of term loans shall be effective later than three years prior to the Term Maturity Date, (C) no Facilities Increase shall be effective earlier than 10 days after the delivery of the Facilities Increase Notice to the Administrative Agent in respect of such Facilities Increase and (D) no more than three Facilities Increases shall be made.
(ii) The Administrative Agent shall promptly notify each Lender of the proposed Facilities Increase and of the proposed terms and conditions therefor agreed between the Company and the Administrative Agent. Each such Lender (and each of their Affiliates and Approved Funds) may, in its sole discretion, commit to participate in such Facilities Increase by forwarding its commitment to the Administrative Agent therefor in form and substance satisfactory to the Administrative Agent within 10 days of receipt of such notice. The Administrative Agent shall allocate, in its sole discretion but in amounts not to exceed for each such Lender the commitment received from such Lender, Affiliate or Approved Fund, the Commitments to be made as part of the Facilities Increase to the Lenders from which it has received such written commitments. If the Administrative Agent does not receive sufficient commitments from existing Lenders or their Affiliates or Approved Funds, it may, after consultation with the Company, allocate to Eligible Assignees any excess of the proposed amount of such Facilities Increase agreed with the Company over the aggregate amounts of the commitments received from existing Lenders.
(iii) Each Facilities Increase shall become effective on a date agreed by the Company and the Administrative Agent (each a "FACILITIES INCREASE DATE"), which shall be in any case on or after the d...
Adjustment of Commitments. The signature pages to the Agreement are ------------------------- hereby amended by deleting the amount of the Commitment of each Investor set forth on the signature pages of the Agreement and inserting in lieu therefor the amount set forth opposite such Investor's respective signature hereto.
Adjustment of Commitments. Each party hereto agrees that so long as the total Commitment of a Lender stays the same and the sum of the Domestic Revolving Commitments and the Global Revolving Commitments does not exceed the Aggregate Commitment, the Domestic Revolving Commitment and the Global Revolving Commitment of such Lender can be changed with the consent of only the Borrower, Administrative Agent, and the affected Lender, and upon any such change, Schedule 1 shall be deemed modified to reflect such change and the Domestic Revolving Commitment amount and Global Revolving Commitment amount set forth in the definitions thereof shall be further deemed amended to reflect such change.
Adjustment of Commitments. In the event that the Secretary determines, pursuant to the Act, that the aggregate principal amount of the Obligations, issued by Shipowner to the purchaser pursuant to the Indenture dated October 16, 2000, eligible for Guarantee under the Act is greater or less than $37,900,000 on the Closing Date, the Shipowner may increase or decrease the total principal amount of Obligations to be issued by not more than 5 percent.
Adjustment of Commitments. Section 2.11 Fees Section 2.12 Pro-rata Treatment Section 2.13 Sharing of Payments Section 2.14 Payments; Computations
Adjustment of Commitments. 35 7.04 Notices to the Lenders.........................................................................35 Section 8. The Agent......................................................................................35
Adjustment of Commitments. Each Lender's Commitment shall be reduced concurrently with any reduction of the Stated Amount of any Letter of Credit by its Percentage of such reduction.
Adjustment of Commitments. The Borrower may reduce the Commitments by giving the Agent notice (which shall be irrevocable) thereof no later than 10:00 a.m. on the third Business Day before the requested date of such reduction, except that no partial reduction of the Commitments shall be in an aggregate amount less than $1,000,000. Upon receipt of any such notice, the Agent shall promptly notify each Bank of the contents thereof and the amount to which such Bank's Commitment is to be irrevocably reduced. Once reduced, the Commitments may not be increased by the Borrower at any time thereafter.
Adjustment of Commitments. 25 Section 4. Payments ......................................................... 26
Adjustment of Commitments. (a) Upon at least three ------------------------- Business Days' prior written notice to the Agent at its Notice Office (which notice the Agent shall promptly transmit to each of the Banks), the Company shall have the right, without premium or penalty, to terminate the Total Unutilized Commitment in whole or in part, in integral multiples of $25,000,000 in the case of partial terminations, provided that any such termination shall apply proportionately to the Commitment of each of the Banks.
(b) The Total Commitment (and the Commitment of each Bank) shall terminate on the Expiry Date.
