Common use of Facility Increase Notice Clause in Contracts

Facility Increase Notice. If the Administrative Agent obtains one or more subscriptions to participate in a requested Accordion Increase after making the offers described in Section 2.25(a)(ii)(A), the Administrative Agent shall provide to the Borrowers and each Lender subscribing to a portion of the Accordion Increase a notice setting forth (i) the amount of the approved Accordion Increase and, after giving effect thereto, the aggregate Revolving Commitments, (ii) the effective date of the approved Accordion Increase, (iii) any fees agreed in writing by the Administrative Agent and Rayonier are payable to the Lenders subscribing to a portion of such Accordion Increase, and (iv) for each Lender, its respective Revolving Commitment, as determined by the Administrative Agent in consultation with Rayonier and subject to Rayonier’s approval (such approval not be unreasonably withheld or delayed) and Revolving Commitment Percentage of the aggregate Revolving Commitments after giving effect to the Accordion Increase. In addition, a fee letter may be entered into between the Administrative Agent and Rayonier in connection with any such Accordion Increase setting forth all fees payable to the Administrative Agent in connection with obtaining subscriptions for, and implementation of, the Accordion Increase, with such fees to be based upon current market conditions.