Common use of Commitment Increases Clause in Contracts

Commitment Increases. The Company shall be entitled, from time to time, to request that the Total Commitments be increased to an aggregate amount not to exceed the U.S. Dollar Equivalent of Two Billion Five Hundred Million Dollars (U.S. $2,500,000,000) (such additional Commitments are referred to herein as the “Additional Commitments”); provided that (i) at such time, no Default or Event of Default then exists and is continuing, (ii) any such increase shall be in a minimum U.S. Dollar Equivalent of U.S. $25,000,000, (iii) no Lender shall be obligated to increase such Lender’s Commitment without such Lender’s written consent, which may be withheld in such Lender’s sole discretion, (iv) any Person providing any Additional Commitment shall be an Eligible Assignee (if such Person is not already a Lender) and (v) the Company and, if required, each other applicable Loan Party will have duly authorized such increase in the Total Commitments and the Administrative Agent shall have received evidence reasonably satisfactory to it of such due authorization. Any Additional Commitments may be USD Commitments or EUR Commitments as the Company and the Lenders providing the same may agree. In connection with any such increase in the Total Commitments the parties shall execute any documents reasonably requested in connection with or to evidence such increase, including without limitation, an amendment to this Agreement.

Appears in 2 contracts

Samples: Guaranty Agreement (LyondellBasell Industries N.V.), Guaranty Agreement (LyondellBasell Industries N.V.)

AutoNDA by SimpleDocs

Commitment Increases. The Company shall be entitled, from time to timetime after the First Amendment Effective Date, to request that the Total Commitments be increased to an aggregate amount not to exceed the U.S. Dollar Equivalent of Two Three Billion Five Hundred Million Dollars (U.S. $2,500,000,0003,500,000,000) (such additional Commitments are referred to herein as the “Additional Commitments”); provided that (i) at such time, no Default or Event of Default then exists and is continuing, (ii) any such increase shall be in a minimum U.S. Dollar Equivalent of U.S. $25,000,000, (iii) no Lender shall be obligated to increase such Lender’s Commitment without such Lender’s written consent, which may be withheld in such Lender’s sole discretion, (iv) any Person providing any Additional Commitment shall be an Eligible Assignee (if such Person is not already a Lender) and (v) the Company and, if required, each other applicable Loan Party will have duly authorized such increase in the Total Commitments and the Administrative Agent shall have received evidence reasonably satisfactory to it of such due authorization. Any Additional Commitments may be USD Commitments or EUR Commitments as the Company and the Lenders providing the same may agree. In connection with any such increase in the Total Commitments the parties shall execute any documents reasonably requested in connection with or to evidence such increase, including without limitation, an amendment to this Agreement.

Appears in 1 contract

Samples: Credit Agreement (LyondellBasell Industries N.V.)

Commitment Increases. The Company Borrower shall be entitled, from time to time, entitled to request that the Total Commitments be increased to by an aggregate amount not to exceed the U.S. Dollar Equivalent of Two Billion Five One Hundred Million Dollars (U.S. $2,500,000,000100,000,000) (such additional Commitments are referred to herein as the “Additional Commitments”); provided that in no event shall the aggregate Total Commitments exceed at any time Six Hundred Million Dollars ($600,000,000); and provided further that (i) at the time of giving effect to any such timeCommitment increase, no Default or Event of Default then exists and is continuingexists, (ii) any the Borrower gives the Lenders thirty (30) days prior written notice of such increase shall be in a minimum U.S. Dollar Equivalent of U.S. $25,000,000election, (iii) no Lender shall be obligated to increase such Lender’s Commitment without such Lender’s written consent, which may be withheld in such Lender’s sole discretion, (iv) the Administrative Agent is able to arrange, on a best efforts basis, any needed Additional Commitment amounts, which Additional Commitments shall be subject to the terms hereof and the other Loan Documents, and (v) any Person providing any Additional Commitment shall amount must be an Eligible Assignee (reasonably acceptable to the Administrative Agent, the L/C Issuer and the Borrower, if such Person is not already a Lender) and (v) the Company and, if required, each other applicable Loan Party will have duly authorized such increase in the Total Commitments and the Administrative Agent shall have received evidence reasonably satisfactory to it of such due authorization. Any Additional Commitments may be USD Commitments or EUR Commitments as the Company and the Lenders providing the same may agree. In connection with any such increase in the Total Commitments the parties shall execute any documents reasonably requested in connection with or to evidence such increase, including without limitation, an amendment to this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Cleveland Cliffs Inc)

Commitment Increases. (a) The Company Borrower shall be entitled, from time to time, entitled to request that (1) the Total Revolving Facility Commitments be increased to an aggregate amount not exceeding One Billion Two Hundred Fifty Million Dollars ($1,250,000,000) in the aggregate, and (2) the Total TL Facility Commitments be increased to exceed the U.S. Dollar Equivalent of Two Billion an amount not exceeding Five Hundred Million Dollars (U.S. $2,500,000,000500,000,000) (such additional Commitments are referred to herein as in the “Additional Commitments”)aggregate; provided that (i) at such time, no Default or Event of Default then exists and is continuingexists, (ii) any the Borrower gives the applicable Banks 30 days’ prior written notice of such increase shall be in a minimum U.S. Dollar Equivalent of U.S. $25,000,000election, (iii) no Lender Bank shall be obligated to increase such LenderBank’s Commitment without such LenderBank’s written consent, consent which may be withheld in such LenderBank’s sole discretion, (iv) the Borrower, not the Banks or the Administrative Agent, shall be responsible for arranging for Persons to provide the additional Commitment amounts; (v) any Person providing any Additional additional Commitment shall be amount must qualify as an Eligible Assignee (and be reasonably acceptable to the Administrative Agent if such Person is not already a Lender) Bank; and (vvi) the Company and, if required, each other applicable Loan Party will Borrower shall have duly authorized such increase in the Total Commitments and delivered current documentation satisfactory to the Administrative Agent shall have received evidence reasonably satisfactory to it of such due authorization. Any Additional Commitments may be USD Commitments or EUR Commitments as evidencing compliance with the Company and the Lenders providing the same may agreeFlood Insurance Requirements. In connection with any such increase in the Total Revolving Facility Commitments or the Total TL Facility Commitments, as the case may be, the parties shall execute any documents reasonably requested in connection with or to evidence such increase, including without limitation, limitation an amendment to this Agreement.

Appears in 1 contract

Samples: Pledge and Security Agreement (LaSalle Hotel Properties)

Commitment Increases. The Company shall be entitled, from time to timetime after the Closing Date, to request that the Total Commitments be increased by up to an aggregate amount not to exceed the U.S. Dollar Equivalent of Two Billion Five Hundred Million Dollars (additional U.S. $2,500,000,000) 1,000,000,000 (such additional Commitments are referred to herein as the “Additional Commitments”); provided that (i) at such time, no Default or Event of Default then exists and is continuing, (ii) any such increase shall be in a minimum U.S. Dollar Equivalent of U.S. $25,000,000, (iii) no Lender shall be obligated to increase such Lender’s Commitment without such Lender’s written consent, which may be withheld in such LenderXxxxxx’s sole discretion, (iv) any Person providing any Additional Commitment shall be an Eligible Assignee (if such Person is not already a Lender) and (v) the Company and, if required, each other applicable Loan Party will have duly authorized such increase in the Total Commitments and the Administrative Agent shall have received evidence reasonably satisfactory to it of such due authorization. Any Additional Commitments may be USD Commitments or EUR Commitments as the Company and the Lenders providing the same may agree. In connection with any such increase in the Total Commitments the parties shall execute any documents reasonably requested in connection with or to evidence such increase, including without limitation, an amendment to this Agreement.

Appears in 1 contract

Samples: Credit Agreement (LyondellBasell Industries N.V.)

Commitment Increases. The Company shall be entitled, from time to timetime after the Closing Date, to request that the Total Commitments be increased to an aggregate amount not to exceed the U.S. Dollar Equivalent of Two Billion Five Hundred Million Dollars (U.S. $2,500,000,000) 4,250,000,000 (such additional Commitments are referred to herein as the “Additional Commitments”); provided that (i) at such time, no Default or Event of Default then exists and is continuing, (ii) any such increase shall be in a minimum U.S. Dollar Equivalent of U.S. $25,000,000, (iii) no Lender shall be obligated to increase such Lender’s Commitment without such Lender’s written consent, which may be withheld in such LenderXxxxxx’s sole discretion, (iv) any Person providing any Additional Commitment shall be an Eligible Assignee (if such Person is not already a Lender) and (v) the Company and, if required, each other applicable Loan Party will have duly authorized such increase in the Total Commitments and the Administrative Agent shall have received evidence reasonably satisfactory to it of such due authorization. Any Additional Commitments may be USD Commitments or EUR Commitments as the Company and the Lenders providing the same may agree. In connection with any such increase in the Total Commitments the parties shall execute any documents reasonably requested in connection with or to evidence such increase, including without limitation, an amendment to this Agreement.

Appears in 1 contract

Samples: Credit Agreement (LyondellBasell Industries N.V.)

AutoNDA by SimpleDocs

Commitment Increases. The Company shall be entitled, from time to timetime after the Closing Date, to request that the Total Commitments be increased to an aggregate amount not to exceed the U.S. Dollar Equivalent of Two Billion Five Hundred Million Dollars (U.S. $2,500,000,000) 4,250,000,000 (such additional Commitments are referred to herein as the “Additional Commitments”); provided that (i) at such time, no Default or Event of Default then exists and is continuing, (ii) any such increase shall be in a minimum U.S. Dollar Equivalent of U.S. $25,000,000, (iii) no Lender shall be obligated to increase such Lender’s Commitment without such Lender’s written consent, which may be withheld in such LenderLxxxxx’s sole discretion, (iv) any Person providing any Additional Commitment shall be an Eligible Assignee (if such Person is not already a Lender) and (v) the Company and, if required, each other applicable Loan Party will have duly authorized such increase in the Total Commitments and the Administrative Agent shall have received evidence reasonably satisfactory to it of such due authorization. Any Additional Commitments may be USD Commitments or EUR Commitments as the Company and the Lenders providing the same may agree. In connection with any such increase in the Total Commitments the parties shall execute any documents reasonably requested in connection with or to evidence such increase, including without limitation, an amendment to this Agreement.

Appears in 1 contract

Samples: Guaranty Agreement (LyondellBasell Industries N.V.)

Commitment Increases. The Company Borrower shall be entitledentitled to request, from either on the Closing Date or at any time prior to timethe Termination Date, to request that the Total Commitments be increased to by an aggregate amount not to exceed the U.S. Dollar Equivalent of Two Billion Five Hundred Fifty Million Dollars (U.S. $2,500,000,000) 50,000,000 (such additional Commitments are referred to herein as the “Additional Commitments”); provided that (x) each request for a Commitment increase shall be in a minimum amount of Ten Million Dollars ($10,000,000), (y) no more than one request for a Commitment increase may be made during any consecutive twelve-month period and (z) in no event shall the aggregate Commitments exceed at any time One Hundred Twenty-Five Million Dollars ($125,000,000); and provided further that, to the extent that the request occurs after the Closing Date, (i) at such time, no Default or Event of Default then exists and is continuingat the time of such request, (ii) any the Borrower gives the Administrative Agent thirty (30) days prior written notice of such increase shall be in a minimum U.S. Dollar Equivalent of U.S. $25,000,000election, (iii) no Lender shall be obligated to increase such Lender’s Commitment without such Lender’s prior written consent, which may be withheld in such Lender’s sole discretion, and (iv) any Person providing any Additional Commitment shall be an Eligible Assignee (if such Person amount that is not already a Lender) and (v) Lender must be reasonably acceptable to the Company andAdministrative Agent, if required, each other applicable Loan Party will have duly authorized such increase in the Total Commitments L/C Issuer and the Administrative Agent shall have received evidence reasonably satisfactory to it of such due authorization. Any Additional Commitments may be USD Commitments or EUR Commitments as the Company and the Lenders providing the same may agreeBorrower. In connection with any such increase in the Total Commitments the parties shall execute any documents reasonably requested in connection with or to evidence such increase, including without limitation, limitation an amendment to this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Delek US Holdings, Inc.)

Commitment Increases. The Company Borrower shall be entitled, from time to time, entitled to request that the Total Commitments be increased to by an aggregate amount not to exceed the U.S. Dollar Equivalent of Two Billion Five Hundred Fifty Million Dollars (U.S. $2,500,000,00050,000,000) (such additional Commitments are referred to herein as the “Additional Commitments”Commitments”);provided that in no event shall the aggregate Total Commitments exceed at any time One Hundred Fifty Million Dollars ($150,000,000); and provided further that (i) at such time, no Default or Event of Default then exists and is continuingexists, (ii) any the Borrower gives the Lenders thirty (30) days prior written notice of such increase shall be in a minimum U.S. Dollar Equivalent of U.S. $25,000,000election, (iii) no Lender shall be obligated to increase such Lender’s Commitment without such Lender’s written consent, which may be withheld in such Lender’s sole discretion, (iv) the Agent is able to arrange, on a best efforts basis, any needed Additional Commitment amounts, which Commitments shall be subject to the terms hereof and the other Loan Documents, (v) the Borrower has paid to the Agent, for the ratable benefit of the Lenders providing the Additional Commitments, a closing fee equal to 0.20% of the total amount of the Additional Commitments, and (vi) any Person providing any Additional Commitment shall amount must be an Eligible Assignee (reasonably acceptable to the Agent, the L/C Issuer and the Borrower, if such Person is not already a Lender) and (v) the Company and, if required, each other applicable Loan Party will have duly authorized such increase in the Total Commitments and the Administrative Agent shall have received evidence reasonably satisfactory to it of such due authorization. Any Additional Commitments may be USD Commitments or EUR Commitments as the Company and the Lenders providing the same may agree. In connection with any such increase in the Total Commitments the parties shall execute any documents reasonably requested in connection with or to evidence such increase, including without limitation, limitation an amendment to this Agreement.

Appears in 1 contract

Samples: Credit Agreement (American Pharmaceutical Partners Inc /De/)

Time is Money Join Law Insider Premium to draft better contracts faster.