Facility Increase Amendment Clause Samples
A Facility Increase Amendment is a contractual provision that allows the parties to increase the total amount of credit or funding available under an existing facility agreement. In practice, this clause sets out the process by which additional lenders may join or existing lenders may increase their commitments, often requiring certain conditions to be met and documentation to be executed. Its core function is to provide flexibility for borrowers to access more funds as their needs grow, without the need to negotiate an entirely new agreement, thereby streamlining the process and ensuring continued access to capital.
Facility Increase Amendment. Commitments in respect of any Additional Loans shall become Commitments under this Agreement pursuant to an amendment (a “Facility Increase Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed by the Primary Loan Parties, each Revolving Credit Lender agreeing to provide such Commitment, if any, each Additional Lender, if any, and the Administrative Agent. A Facility Increase Amendment may, without the consent of any other Revolving Credit Lenders, effect such amendments to any Loan Documents as may be reasonably necessary or appropriate, in the reasonable opinion of the Administrative Agent, to effect the provisions of this Section 2.13. At the time of the sending of such notice, the Borrower Representative (in consultation with the Administrative Agent) shall specify the time period within which each Revolving Credit Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Revolving Credit Lenders).
Facility Increase Amendment. This Facility Increase Amendment, duly executed and delivered by the parties hereto.
Facility Increase Amendment. Commitments in respect of any Additional Loans shall become Commitments under this Agreement pursuant to an amendment (a “Facility Increase Amendment”) to this Agreement and, as appropriate, the other Loan Documents, executed by the Loan Parties, each existing Lender agreeing to provide such Commitment (if any), each Additional Lender (if any) and the Administrative Agent. A Facility Increase Amendment may, without the consent of any other Lenders, effect such amendments to any Loan Documents as may be reasonably necessary or appropriate, in the reasonable opinion of the Administrative Agent, to effect the provisions of this Section 2.12.