Facility Increase. (a) The Borrower may (no more frequently than three times after the Closing Date (in minimum increments of $50,000,000) during the term of the Revolving Credit Facility) request the Lenders or other Eligible Assignees acceptable to the Administrative Agent in its reasonable discretion to provide additional Commitments (a “Facility Increase”) up to an aggregate amount during the term of the Revolving Credit Facility not in excess of $200,000,000; provided, however, that (i) the Borrower shall have given the Administrative Agent at least 60 days’ written notice of its intention to effect the Facility Increase and the desired amount of such Facility Increase, (ii) there shall exist no Default or Event of Default as of the Facility Increase Effective Date (as defined below) or after giving effect to the Facility Increase to occur on that date and the other conditions precedent to a Borrowing set forth in Section 3.2 are satisfied as of the Facility Increase Effective Date, (iii) an opinion of counsel to the Loan Parties in form and substance and from counsel reasonably satisfactory to the Administrative Agent and addressed to the Facility Agents, the Issuers and the Lenders dated the Facility Increase Effective Date and addressing such matters as the Administrative Agent may reasonably request shall be delivered to the Administrative Agent, (iv) the Administrative Agent shall have received such other documents, agreements, certificates and writings with respect to the Facility Increase as the Administrative Agent shall reasonably request (including, without limitation, resolutions of the Borrower authorizing the borrowings under the Facility Increase and such amendments, modifications and/or supplements to the Collateral Documents as are necessary or, in the reasonable opinion of the Administrative Agent, desirable to ensure that the borrowings under the Facility Increase are secured by, and entitled to the benefits of, the Collateral Documents), (v) the Borrower shall have paid to the Administrative Agent a fee to be determined (but in any event reasonably acceptable to Group) and (vi) the Borrower shall have paid to the Lenders providing the Facility Increase a fee required in order to clear the market in an amount to be determined.
(b) The Borrower shall have the right to offer such increase to (x) the Lenders, and each Lender will have the right, but not the obligation, to commit to all or a portion of the proposed Facility Increase or (y) any institution ...
Facility Increase. Each Lender (or Affiliate or Approved Fund thereof) or Eligible Assignee having, in its sole discretion, committed to a Facility Increase shall agree as part of such commitment that, on the Facility Increase Date for such Facility Increase, on the terms and subject to the conditions set forth in, or as otherwise agreed to in connection with, its commitment therefor or as set forth in any amendment to this Agreement in connection with such Facility Increase (subject in each case to clause (iv) below), such Lender, Affiliate, Approved Fund or Eligible Assignee shall make a Loan in Dollars to the Borrower in an amount not to exceed such commitment to such Facility Increase.
(i) The Borrower shall have the right to send to the Administrative Agent, after the Effective Date, one or more Facility Increase Notices to request (each, a “Facility Increase”) (A) an increase in the aggregate amount of Revolving Credit Commitments under the Revolving Credit Facility (the “Increased Revolving Commitments”) and/or (B) additional Term A Loans (the “Incremental Term A Loans”) or additional Term B Loans (the “Incremental Term B Loans” and, together with the Incremental Term A Loans, the “Incremental Term Loans”); provided, however that the amount of the Facility Increase shall not exceed $200,000,000 (the “Facility Increase Cap”) in the aggregate for all such Facility Increases and shall be in increments of not less than $25,000,000 (or the remaining amount of the Facility Increase permitted pursuant to this clause (i), if less than $25,000,000); provided, further, that the amount of Incremental Term A Loans shall not exceed $50,000,000 in the aggregate. Nothing in this Agreement shall be construed to obligate any Lender to negotiate for (whether or not in good faith), solicit, provide or commit to provide any Facility Increase, and any such Facility Increase may be subject to changes in any term herein.
(ii) The Borrower may invite Persons that are not currently Lenders (or Affiliates of Lenders) to provide all or a portion of the Facility Increase; provided that each Revolving Lender providing Increased Revolving Commitments shall be reasonably satisfactory to the Administrative Agent.
(iii) The Incremental Term Loans (A) shall rank pari passu in right of payment with the other Term Loans (including any Incremental Term Loans outstanding on the Facility Increase Date), (B) shall not have a final maturity earlier than the latest final maturity date applicable to any Term L...
Facility Increase. In connection with the closing of any Facility Increase, the outstanding Loans and Participation Interests shall be reallocated by causing such fundings and repayments (and shall not be subject to any processing and/or recordation fees) among the Lenders (and the Borrower shall be responsible for any costs of the Administrative Agent arising hereunder resulting from such reallocation and repayments and for any payments owing under Section 15.5 of Loans as necessary such that, after giving effect to such Facility Increase, each Lender will hold Loans and Participation Interests based on its Pro Rata Share (after giving effect to such Facility Increase).
Facility Increase. Prior to January 1, 2019, Borrower may, by written notice to Agent, elect to request the establishment of a new loan commitment by an aggregate amount not in excess of $35,000,000.00 (the “Incremental Term Loan Commitment”). Lender may elect to accept or decline Borrower’s request for the Incremental Term Loan Commitment (in whole or in part) in its sole and absolute discretion. Any Incremental Term Loan Commitment shall become effective and shall be an Advance subject to the conditions, requirements and limitations set forth in Section 2.2(b) as of date advanced.”
Facility Increase. (1) Xxxxx Fargo shall, during the period commencing on the Closing Date and ending on January 31, 1999, use reasonable efforts to attempt to syndicate (the "Syndication") this Agreement to one or more new Lenders (each, a "New Syndicate Member") pursuant to such agreements and other documents (the "New Syndicate Member Documents") as Xxxxx Fargo may require, including, without limitation, a joinder to this Agreement to be executed by any New Syndicate Member in form and substance satisfactory to Xxxxx Fargo. Borrower agrees to cooperate fully with Xxxxx Fargo's Syndication efforts and to provide sufficient information (including, without limitation, financial information) as Xxxxx Fargo may reasonably request to enable Xxxxx Fargo to prepare an information package for use in the Syndication efforts. Xxxxx Fargo shall have no liability or obligation of any kind whatsoever to Borrower or any other Person in the event that Xxxxx Fargo does not, for any reason, syndicate this Agreement to one or more New Syndicate Members.
(2) If one or more New Syndicate Members join in this Agreement, the Commitment shall be increased to an amount (the "Increased Commitment") not to exceed $100,000,000.
(3) Borrower acknowledges and agrees that the execution of the New Syndicate Member Documents will require that this Agreement and the other Loan Documents be modified and Borrower agrees to execute and deliver, and to cause each Guarantor to execute and deliver, such modifications as Xxxxx Fargo may reasonably require. In connection with the Syndication, Borrower shall execute and deliver such new Notes to the New Syndicate Members as are necessary to reflect the foregoing. The Agent shall prepare and circulate a revised Schedule 1.1 giving effect to the Increased Commitment.
(4) In connection with the Syndication, Borrower agrees to reimburse Xxxxx Fargo for all reasonable costs and expenses incurred by Xxxxx Fargo in connection with the Syndication.
(5) Upon the effective date of the New Syndicate Member Documents with respect to each New Syndicate Member, such New Syndicate Member shall be a Lender for all purposes of this Agreement and the other Loan Documents.
Facility Increase. (a) The Borrower may give notice to the Lender requesting that the Available Commitment is increased in an aggregate amount of up to US$10,000,000 (the Increase Amount).
(b) In the event that the Borrower demonstrates to the Lender that the Borrower requires funding for working capital purposes at the Koidu Kimberlite Mine in excess of the Available Commitment, the Borrower and the Lender agree to negotiate in good faith the possibility of increasing the Available Commitment by the Increase Amount.
(c) Upon confirmation in writing from the Lender that it agrees, at its sole and unfettered discretion, to the Borrower's request to increase the Available Commitment by an amount equal to the Increase Amount (or such lesser amount indicated by the Lender), the Available Commitment shall be increased by an amount equal to that amount on and from the date of such confirmation.
Facility Increase. 2.1 The Company hereby elects to exercise the increase of the Aggregate Commitment set forth in Section 2.8 of the Credit Agreement in the amount of $300,000,000, the full amount available thereunder. In so doing, the Company hereby confirms that it shall make no further increase requests under the Credit Agreement. Each of the Lenders that has agreed to participate in such increase of the Aggregate Commitment (each, an “Increasing Lender”, and collectively, the “Increasing Lenders”) has evidenced its consent by completing and executing a Lender Addition and Acknowledgment Agreement in the form of Exhibit F attached to the Credit Agreement, each of which such completed and executed agreements are attached hereto as Appendix B. The outstanding Revolving Credit Loans will be reallocated on the Facility Increase Effective Date among the Lenders in accordance with their revised Commitment Percentages set forth on Appendix A hereto. Each of the Increasing Lenders hereby agrees to make all payments and adjustments necessary to effect the reallocation, and the Company hereby agrees to pay any and all costs required pursuant to Section 3.9 of the Credit Agreement in connection with such reallocation as if such reallocation were a repayment.
Facility Increase. At any time after August 1, 2006, the Borrowers may request, in writing, one-time increase in the aggregate Revolving Commitments by up to the sum of $100,000,000 (the “Facility Increase”) in accordance with the terms of this Section 2.22.
Facility Increase. At any time, so long as no Event of Default has occurred and is continuing, the Borrowers may, by written notice to the Lender, request a new loan commitment in an aggregate amount in excess of the Maximum Term Loan Amount (as of the Effective Date). The Lender may elect to accept or decline the Borrowers request (in whole or in part) in its sole and absolute discretion. Any such request accepted by Lender (an “Incremental Term Loan Commitment”) shall become effective and any funds advanced by the Lender pursuant thereto shall be an Advance subject to the conditions, requirements and limitations set forth in Section 2.2(b) as of the date advanced.
Facility Increase. Borrower may request in writing, at any time prior to the maturity date so long as no Event of Default exists, a one-time increase of the maximum Line of Credit amount by an amount not to exceed $10,000,000, which Bank will consider (and determine to agree to/extend or not) in its sole and absolute discretion. Bank agrees it will advise the Borrower in writing within 15 days of receiving an increase request whether or not Bank agrees to increase the maximum Line of Credit by the requested amount, and the effective date of the increase. Borrower understands that Bank’s decision whether to increase the maximum Line of Credit by the requested amount or any part thereof is in Bank’s sole and absolute discretion, and subject to credit review and such other assurances, certificates, documents, consents or opinions as Bank may reasonably require.
