Effectiveness of Increase. Each Revolving Credit Commitment Increase (and the increase of the Revolving Credit Commitment of each Increasing Revolving Credit Lender and/or the new Revolving Credit Commitment of each Assuming Revolving Credit Lender, as applicable, resulting therefrom) shall become effective as of the relevant Revolving Credit Commitment Increase Date upon receipt by the Administrative Agent, on or prior to 9:00 a.m., New York City time, on such Revolving Credit Commitment Increase Date, of (A) a certificate of a duly authorized officer of the Company stating that the conditions with respect to such Revolving Credit Commitment Increase under this paragraph (c) have been satisfied, (B) an agreement, in form and substance satisfactory to the Company and the Administrative Agent, pursuant to which, effective as of such Revolving Credit Commitment Increase Date, as applicable, the Revolving Credit Commitment of each such Increasing Revolving Credit Lender shall be increased or each such Assuming Revolving Credit Lender shall undertake a Revolving Credit Commitment, in each case duly executed by such Increasing Revolving Credit Lender or Assuming Revolving Credit Lender, as the case may be, and the Company and acknowledged by the Administrative Agent and (C) such certificates or other documents from the Borrowers reasonably requested by the Administrative Agent in connection with such Revolving Credit Commitment Increase. Upon the Administrative Agent’s receipt of a fully executed agreement from each Increasing Revolving Credit Lender and/or Assuming Revolving Credit Lender referred to in clause (B) above, together with the certificate and other documents referred to in clauses (A) and (C) above, the Administrative Agent shall record the information contained in each such agreement in the Register and give prompt notice of the relevant Revolving Credit Commitment Increase to the Company and the Lenders (including, if applicable, each Assuming Revolving Credit Lender). On each Revolving Credit Commitment Increase Date, the Borrowers shall simultaneously (i) prepay in full the outstanding Revolving Credit Loans (if any) held by the Revolving Credit Lenders immediately prior to giving effect to the relevant Revolving Credit Commitment Increase, (ii) if any Borrower shall have so requested in accordance with this Agreement, borrow new Revolving Credit Loans from all Revolving Credit Lenders (including, if applicable, any Assuming Revolving Credit Lender) such that, after givi...
Effectiveness of Increase. On each Incremental Term Loan Effective Date, the Borrower shall deliver to the Administrative Agent (A) a certificate of a duly authorized officer of the Borrower stating that the conditions with respect to such Incremental Term Loan under this paragraph (d) have been satisfied, (B) an executed Incremental Term Loan Supplement and (C) such certificates, legal opinions or other documents from the Borrower reasonably requested by the Administrative Agent in connection with such Incremental Term Loan. Upon the Administrative Agent’s receipt of a fully executed Incremental Term Loan Supplement, together with the certificates, legal opinions and other documents referred to in clauses (A) and (C) above, the Administrative Agent shall record the information contained in each such agreement in the Register and give prompt notice of the relevant Incremental Term Loan to the Borrower and the Lenders.
Effectiveness of Increase. On each Incremental Term Loan Effective Date, the Company shall deliver to the Administrative Agent (A) a certificate of a duly authorized officer of the Company stating that the conditions with respect to such Incremental Term Loan under this paragraph (d) have been satisfied, (B) an executed Incremental Term Loan Supplement and (C) such certificates or other documents from the Company reasonably requested by the Administrative Agent in connection with such Incremental Term Loan. Upon the Administrative Agent’s receipt of a fully executed Incremental Term Loan Supplement, together with the certificate and other documents referred to in clauses (A) and (C) above, the Administrative Agent shall record the information contained in each such agreement in the Register and give prompt notice of the relevant Incremental Term Loan to the Company and the Lenders.
Effectiveness of Increase. Upon the request of Global Administrative Agent, the Funding Agent of each affected Tranche shall provide to Global Administrative Agent a new Schedule 2.1 for such Tranche reflecting the Applicable Tranche Percentage of the Lenders under such Tranche after giving effect to the proposed increase pursuant to this Section 6.13. In addition, Global Administrative Agent, the applicable Funding Agents and Prologis shall determine the effective date (the “Increase Effective Date”) of each increase in an Aggregate Tranche Commitment under this Section 6.13, and Global Administrative Agent shall promptly notify Prologis, the affected Funding Agents and each Lender of the Increase Effective Date. After the Increase Effective Date and receipt of a revised Schedule 2.1 (if requested by Global Administrative Agent) from each applicable Funding Agent, Global Administrative Agent shall promptly provide to each Lender and to Prologis a new Schedule 2.1.
Effectiveness of Increase. Administrative Agent and Prologis shall determine the effective date (the “Increase Effective Date”) of each increase in the Aggregate Commitments under this Section 3.12. Notwithstanding anything herein to the contrary, Administrative Agent, Prologis and the applicable Subsequent Lenders and/or Increasing Lenders may agree upon procedures for phasing in any increase to minimize breakage costs or for reasons of convenience. After an Increase Effective Date, Administrative Agent shall promptly provide to each Lender and to Prologis a revised Schedule 2.1.
Effectiveness of Increase. An increase in the aggregate amount of the Commitments pursuant to this Section 2.2 shall become effective upon the receipt by Administrative Agent of an agreement in form and substance reasonably satisfactory to Administrative Agent signed by Borrower, by each Additional Lender and by each other Lender whose Commitment is to be increased, setting forth the new Commitments of such Lenders and setting forth the agreement of each Additional Lender to become a party to this Agreement and to be bound by all the terms and provisions hereof, and such legal opinions and other evidence of appropriate corporate authorization on the part of Borrower with respect to the increase in the aggregate Commitments and other documents with respect to the increase in the Commitments as Administrative Agent may reasonably request.
Effectiveness of Increase. If any requested increase in the Commitments is agreed to in accordance with this Section 2.2, Agent and Administrative Borrower shall determine the effective date of such increase (the “Increase Effective Date”). Agent, with the consent and approval of Administrative Borrower, shall promptly confirm in writing to the Lenders the final allocation of such increase and the Increase Effective Date. Each new Lender, and each existing Lender that has increased its Commitment, shall purchase Advances and participations in outstanding Letters of Credit from each other Lender in an amount such that, after such purchase or purchases, the amount of outstanding Advances and participations in outstanding Letters of Credit from each Lender shall equal such Lender’s Pro Rata Share of the Commitments, as modified to give effect to such increase, multiplied by the aggregate amount of outstanding Advances and participations in Letters of Credit from all Lenders. As a condition precedent to the effectiveness of such increase, Borrowers shall deliver to Agent (i) a certificate dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by the chief financial officer or chief executive officer of Administrative Borrower, including a certification that, before and after giving effect to such increase, the representations and warranties contained in Section 4 are true and correct in all material respects on and as of the Increase Effective Date (except to the extent any such representation or warranty is stated to relate solely to an earlier date) and no Default or Event of Default has occurred and is continuing, (ii) an agreement in form and substance reasonably satisfactory to Agent, duly executed by each new Lender, any Lender increasing its Commitment, and Borrowers, setting forth the new Commitments of such Lenders and setting forth the agreement of each new Lender to become a party to this Agreement and to be bound by all the terms and provisions hereof and (iii) such other agreements, documents, certificates, opinions and items as Agent may reasonably require.
Effectiveness of Increase. Subject to the foregoing, any increase to the Commitments requested under this Section shall be effective as of the date proposed by the Borrowers and shall be in the principal amount equal to (i) the amount which consenting Lenders are willing to assume as increases to the amount of their Commitments plus (ii) the amount offered by any New Lenders. Upon the effectiveness of any such increase, the Pro Rata Percentages of each Lender will be adjusted to give effect to the increase in the Commitments and, to the extent necessary, each Revolving Loan outstanding under any Commitment which is so increased shall be refinanced with new Revolving Loans reflecting the adjusted Pro Rata Percentages of the Lenders. As conditions to the effectiveness of any such increase to the Commitments, the Borrowers shall:
(a) Issue replacement Promissory Notes to each affected Lender and new Promissory Notes to each New Lender;
(b) execute and deliver to the Agent such amendments to and reaffirmations of the Loan Documents as the Agent may reasonably request relating to such increase;
(c) execute and deliver to the Agent a certificate from each Borrower and each Guarantor certifying and attaching board resolutions adopted by each of them approving or consenting to such increase;
(d) pay to the existing Lenders any breakage costs which are payable in connection with the refinancing of any Loans in the manner contemplated by Section 8.10; and
(e) pay to each existing Lender participating in the increase (other than CIT) and to each New Lender a loan increase fee equal to the product of such Lender’s or New Lender’s increased Commitment or new Commitment, as applicable, times 0.0005.
Effectiveness of Increase. Upon the request of Global Administrative Agent, the Funding Agent of each affected Tranche shall provide to Global Administrative Agent a new (i) Schedule 2.1-1 with respect to each increase of the Initial Commitments, or (ii) Schedule 2.1-2 with respect to each increase of the Extended Commitments for such Tranche reflecting the Applicable Tranche Percentage of the Lenders under such Tranche after giving effect to the proposed increase pursuant to this Section 8.13. In addition, Global Administrative Agent, the applicable Funding Agents, and ProLogis shall determine the effective date (the “Increase Effective Date”) of each increase in an Aggregate Tranche Commitment under this Section 8.13, and Global Administrative Agent shall promptly notify ProLogis, the affected Funding Agents, and each Lender of the Increase Effective Date. After the Increase Effective Date and receipt of a revised (i) Schedule 2.1-1 with respect to each increase of the Initial Commitments, or (ii) Schedule 2.1-2 with respect to each increase of the Extended Commitments (if requested by Global Administrative Agent) from each applicable Funding Agent, Global Administrative Agent shall promptly provide to each Lender and to ProLogis a new (i) Schedule 2.1-1 with respect to each increase of the Initial Commitments, or (ii) Schedule 2.1-2 with respect to each increase of the Extended Commitments to this Agreement.
Effectiveness of Increase. Any such Commitment Increase shall become effective only upon (i) Bank’s agreement to a Commitment Increase in such amount, if any, as Bank shall determine, and setting forth such terms and conditions with respect to such Commitment Increase as Bank shall require in its sole and absolute discretion, (ii) satisfaction of conditions of such Commitment Increase as Bank shall require, (iii) the Loan Parties’ execution and delivery of such documents and/or instruments as Bank shall require in connection with such Commitment Increase, including without limitation any supplement, restatement or amendment to this Agreement or the other Loan Documents as shall be necessary to effectuate such Commitment Increase in accordance with Bank’s agreement to provide the same, and such additional customary documents and filings (including amendments to the Security Documents and title endorsement bringdowns), (iv) Bank’s receipt of resolutions and other customary closing certificates and documentation as required by Bank, consistent with those delivered as of the date of this Agreement, and (v) payment of such additional fees as Bank shall determine as a condition of such Commitment Increase provided such fees shall not exceed 30 bps of the additional principal amount included in the Commitment Increase and other reasonable third party fees and costs of Bank incurred in connection with such Commitment Increase. Each such Commitment Increase shall be secured by all of the Collateral securing the Loans and upon any such Commitment Increase, the Facility B Line of Credit Commitment will thereafter be increased by the amount of such Commitment Increase. 2.03 Facility C Term Loan.
