Increase in Aggregate Commitments. (a) Provided there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrower may from time to time, request an increase in the Aggregate Commitments; provided, however, that (i) the maximum amount of the Aggregate Commitments after giving effect to any such increase shall not exceed $500,000,000 and (ii) the Borrower may make a maximum of three such requests. The aggregate amount of any individual increase hereunder shall be in a minimum amount of $10,000,000 (and in integral multiples of $5,000,000 in excess thereof). To achieve the full amount of a requested increase, the Borrower may solicit increased commitments from existing Lenders and also invite additional Eligible Assignees to become Lenders; provided, however, that no existing Lender shall be obligated and/or required to accept an increase in its Commitment pursuant to this Section 2.14 unless it specifically consents to such increase in writing. Any Lender or Eligible Assignee agreeing to increase its Commitment or provide a new Commitment pursuant to this Section 2.14 shall, in connection therewith, deliver to the Administrative Agent a new commitment agreement in form and substance satisfactory to the Administrative Agent and its counsel.
(b) If the Aggregate Commitments are increased in accordance with this Section, the Administrative Agent and the Borrower shall determine the effective date (the “Increase Effective Date”) and the final allocation of such increase. The Administrative Agent shall promptly notify the Borrower and the Lenders of the final allocation of such increase and the Increase Effective Date and Schedule 2.01 hereto shall be deemed amended to reflect such increase and final allocation. As a condition precedent to such increase, in addition to any deliveries pursuant to subsection (a) above, the Borrower shall deliver to the Administrative Agent each of the following in form and substance satisfactory to the Administrative Agent: (1) a certificate of the Borrower dated as of the Increase Effective Date (in sufficient copies for each Lender) signed by a Responsible Officer of the Borrower (i) certifying and attaching the resolutions adopted by the Borrower approving or consenting to such increase, and (ii) certifying that, before and after giving effect to such increase, (A) the representations and warranties contained in Article V and the other Loan Documents are true and correct on and as of the Increase Effective Da...
Increase in Aggregate Commitments. (a) The Parent Borrower may, at any time but in any event not more than once in any calendar year prior to the Termination Date, by notice to the Agent, request that the aggregate amount of the Commitments be increased by an amount of $10,000,000 or an integral multiple thereof (each a “Commitment Increase”) to be effective as of a date that is at least 90 days prior to the scheduled Termination Date then in effect (the “Increase Date”) as specified in the related notice to the Agent; provided, however that (i) in no event shall the aggregate amount of the Commitments at any time exceed $2,500,000,000 and (ii) on the date of any request by the Parent Borrower for a Commitment Increase and on the related Increase Date the applicable conditions set forth in Article III shall be satisfied.
Increase in Aggregate Commitments. (a) The Borrower shall have the option, without the consent of the Lenders, from time to time to cause one or more increases in the Aggregate Commitments by adding, subject to the prior approval of the Administrative Agent (such approval not to be unreasonably withheld), to this Agreement one or more financial institutions as Lenders (collectively, the “New Lenders”) or by allowing one or more Lenders to increase their respective Commitments; provided however that: (i) prior to and after giving effect to the increase, no Default or Event of Default shall have occurred hereunder and be continuing, (ii) no such increase shall cause the Aggregate Commitments to exceed $600,000,000, (iii) no Lender’s Commitment shall be increased without such Lender’s consent, and (iv) such increase shall be evidenced by a commitment increase agreement in form and substance acceptable to the Administrative Agent and executed by the Borrower, the Administrative Agent, New Lenders, if any, and Lenders increasing their Commitments, if any, and which shall indicate the amount and allocation of such increase in the Aggregate Commitments and the effective date of such increase (the “Increase Effective Date”). Each financial institution that becomes a New Lender pursuant to this Section by the execution and delivery to the Administrative Agent of the applicable commitment increase agreement shall be a “Lender” for all purposes under this Agreement on the applicable
Increase in Aggregate Commitments. The Borrowers may, at any time and from time to time prior to the Maturity Date, upon prior written notice by the Borrowers to the applicable Agent, increase the Aggregate Domestic Commitments, the Aggregate Canadian Commitments, and/or the Aggregate PR Commitments (but not the Domestic Swing Line Sublimit, the Canadian Swing Line Sublimit, or the Letter of Credit Sublimit), by a maximum aggregate amount not to exceed $200,000,000 for all such increases, with additional Commitments from any Lender or new Commitments from one or more Eligible Assignees selected by the Borrowers and acceptable to the applicable Agent, the applicable Swing Line Lender (as applicable) and the L/C Issuers (as applicable); provided, that:
(a) any such increase shall be in a minimum principal amount of $10,000,000 and in integral multiples of $1,000,000 in excess thereof;
(b) no Default or Event of Default shall exist and be continuing at the time of any such increase;
(c) no existing Lender shall be under any obligation to increase any of its Commitments and any such decision whether to increase any of its Commitments shall be in such Lender’s sole and absolute discretion;
(i) any new Lender shall join this Agreement by executing such joinder documents as are required by the applicable Agent, and/or (ii) any existing Lender electing to increase its relevant Commitment shall have executed a commitment agreement satisfactory to the applicable Agent;
(e) as a condition precedent to such increase, Xxxxx shall deliver to the applicable Agent a certificate of the applicable Borrowers dated as of the date of such increase signed duly authorized officers of each such Borrower (i) certifying and attaching the resolutions adopted by such Borrowers approving or consenting to such increase, and (ii) in the case of Xxxxx, certifying that, before and after giving effect to such increase, (A) the representations and warranties contained in Section 5.01, Section 5.02, Section 5.06(a), Section 5.09, Section 5.10, Section 5.17, Section 5.18, and Section 5.21 are true at and as of the time of the effective date of such increase, with the same effect as if made at and as of that time (except to the extent of changes resulting from transactions contemplated or permitted by this Agreement and changes occurring in the ordinary course of business which singly or in the aggregate are not materially adverse to the business, assets or financial condition of Ryder and its Consolidated Subsidiaries, taken a...
Increase in Aggregate Commitments. The Borrower may, at its option, seek to increase the Aggregate Commitment by up to an aggregate amount of $100,000,000 (resulting in a maximum Aggregate Commitment of $400,000,000) in a minimum amount of $20,000,000 and in integral multiples of $5,000,000 in excess thereof, upon at least three (3) Business Days’ prior written notice to the Administrative Agent, which notice shall specify the amount of any such increase and shall be delivered at a time when no Default or Unmatured Default has occurred and is continuing. The Borrower may, after giving such notice, offer the
Increase in Aggregate Commitments. (a) On the effective date of the increase of the Borrowing Base pursuant to this Amendment, (i) the Aggregate Commitments shall be increased from $750,000,000 to $1,750,000,000, (ii) each Person listed on the signature pages hereof which is not a party to the Agreement (a “New Lender”) shall become a Lender party to the Agreement and (iii) the Commitment and Applicable Percentage of each Lender shall be reset and shall equal to such amounts and percentages set forth opposite such Lender’s name on Schedule A attached hereto (such Commitments and Applicable Percentages as so reset, the “Reset Commitments”).
(b) On the effective date of the Reset Commitments pursuant to this Amendment:
(i) Committed Loans outstanding on such effective date shall be reallocated among the Lenders by way of assignment and assumption in accordance with Section 7 hereof, such that all outstanding Committed Loans are held by the Lenders in proportion to their respective Reset Commitments; and
(ii) the participations in all outstanding Letters of Credit shall be determined such that all L/C Obligations are held by the Lenders in proportion to their respective Reset Commitments.
(c) For the avoidance of doubt, Section 6(b) and Section 7 are intended to effect a reallocation of the outstanding Loans in accordance with the Reset Commitments, and nothing in this Amendment shall be deemed to constitute a novation of the credit facility under the Credit Agreement or of the Loans thereunder, and shall not impair in any respect any Lien securing the Obligations.
Increase in Aggregate Commitments. (a) Subject to the terms and conditions set forth in this Amendment and in the Amended Credit Agreement, each of the Lenders hereby agrees to increase the amount of its respective Revolving Commitment on the Second Amendment Effective Date from the respective amount set forth in the applicable column opposite such Lender’s name (designated as such Lender’s “Commitment”) in the table set forth on Schedule 1.01(b) (Initial Commitments and Applicable Percentages) to the Credit Agreement, as such Schedule is in effect immediately prior to giving effect to this Amendment, to the respective amount set forth in the applicable column opposite such Lender’s name (designated as such Lender’s “Commitment”) in the table set forth on such Schedule as in effect immediately after giving effect to this Amendment. As of the Second Amendment Effective Date (immediately after giving effect to this Amendment), the amount of the Aggregate Commitments is One-Hundred Twenty-Five Million Dollars ($125,000,000), as increased from Seventy-Five Million Dollars ($75,000,000) as of the date that is immediately prior to the Second Amendment Effective Date.
(b) For purposes of clarity, the increase in the amount of the Aggregate Commitments on the Second Amendment Effective Date pursuant to this Section 2 is not effected pursuant to Section 2.15 (Increase in Revolving Facility) of the Credit Agreement and shall not constitute an Incremental Facility for purposes of the Amended Credit Agreement or any of the other Loan Documents, and further, the aggregate amount of the increase in Commitments established on the Second Amendment Effective Date pursuant to this Section 2 shall not decrease (or otherwise count against) the aggregate Dollar cap applicable to Incremental Facilities that is set forth in Section 2.16(a) (Request for Increase) of the Amended Credit Agreement.
Increase in Aggregate Commitments. The Borrower may, at any time and from time to time, upon prior written notice by the Borrower to the Administrative Agent increase the Aggregate Commitments (but not the Letter of Credit Sublimit) by a maximum aggregate amount of up to TWO HUNDRED MILLION DOLLARS ($200,000,000) with (i) additional Domestic Revolving Commitments from any existing Domestic Lender with a Domestic Revolving Commitment or new Domestic Revolving Commitments from any other Person selected by the Borrower and reasonably acceptable to the Administrative Agent and the L/C Issuer or (ii) a term loan (the "Incremental Term Loan") from any existing Lender or from any other Person selected by the Borrower and reasonably acceptable to the Administrative Agent as follows:
Increase in Aggregate Commitments. (a) Increase in Aggregate Commitments Generally. So long as no Default has occurred and is continuing or would result therefrom and the Aggregate Commitments have not been voluntarily reduced, upon notice to Administrative Agent, at any time after the Closing Date but prior to the Working Capital Maturity Date, Borrower may request one or more Additional Working Capital Commitments or one or more Additional Floorplan Commitments; provided that: (i) after giving effect to any such addition, the maximum aggregate amount of Additional Working Capital Commitments and Additional Floorplan Commitments that have been added pursuant to this Section 2.14 shall not exceed $50,000,000; (ii) any such addition shall be in an aggregate amount of $15,000,000.00 or any whole multiple of $1,000,000.00 in excess thereof (provided that such amount may be less than $15,000,000.00 if such amount represents all remaining availability under the aggregate limit in respect of Additional Working Capital Commitments and Additional Floorplan Commitments set forth in clause (i) of this proviso); (iii) Borrower may request a maximum total of three (3) increases under this section and (iv) no Lender shall be required to participate in the Additional Working Capital Commitments or Additional Floorplan Commitments.
Increase in Aggregate Commitments. Upon the effectiveness of this Amendment on the Amendment No. 4 Effective Date (as defined below), the Commitments and Applicable Percentages of each Lender will be as set forth on Schedule 2.01 attached hereto as Annex E, which amends and replaces in its entirety the existing Schedule 2.01 to the Credit Agreement, with the Term Facility Two Commitments constituting Incremental Commitments under Section 2.15 of the Credit Agreement. The Administrative Agent and the Term Facility Two Lenders hereby waive the notice and ten (10) day period provided for in Section 2.15 with respect to the request for the Term Facility Two Commitments.
