Increase in Aggregate Revolving Commitments Clause Samples
The "Increase in Aggregate Revolving Commitments" clause allows the total amount available under a revolving credit facility to be increased, typically at the request of the borrower and with the consent of the lenders. In practice, this clause outlines the process for requesting an increase, such as notice requirements, conditions that must be met, and the involvement of new or existing lenders to provide the additional funds. Its core function is to provide flexibility for the borrower to access more credit as needed, while ensuring that all parties agree to the revised terms and that the facility can accommodate changing financing needs.
Increase in Aggregate Revolving 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 Revolving Commitments (but not the Letter of Credit Sublimit or the Swing Line Sublimit) with additional Revolving Commitments from any existing Lender with a Revolving Commitment or new Revolving Commitments from any other Eligible Assignee selected by the Borrower and reasonably acceptable to the Administrative Agent, the L/C Issuer and the Swing Line Lender; 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 its Commitment and any such decision whether to increase its Revolving Commitment shall be in such Lender’s sole and absolute discretion.
(D) (1) any new Lender shall join this Agreement by executing such joinder documents reasonably required by the Administrative Agent and/or (2) any existing Lender electing to increase its Commitment shall have executed a commitment agreement reasonably satisfactory to the Administrative Agent.
(E) After giving effect to such increase, the Administrative Agent shall reallocate any outstanding Revolving Loans among the Lenders to the extent necessary to keep the outstanding Revolving Loans ratable with any revised Revolving Commitments arising from any nonratable increase in the Revolving Commitments under this Section.
(F) as a condition precedent to such increase, the Borrower shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the date of such increase (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (1) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and (2) in the case of the Borrower, certifying that, before and after giving effect to such increase, (x) the representations and warranties contained in Article VI and the other Loan Documents are true and correct in all material respects on and as of the date of such increase, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects as of such earlier date and (y) no Default or Event of Default exists.
(G) as a conditi...
Increase in Aggregate Revolving Commitments. The Borrower desires to increase the Aggregate Revolving Commitments by $250,000,000 (the “Aggregate Revolving Commitment Increase”) as of the Fourth Amendment Effective Date (as defined below) upon effectiveness of this Fourth Amendment so that, after giving effect to such increase, the Aggregate Revolving Commitments shall equal
Increase in Aggregate Revolving Commitments. The Aggregate Revolving Commitments are increased to $500,000,000. The Revolving Commitment of each Lender as of the date hereof is amended to equal the amount set forth opposite such Lender’s name on Schedule 2.01 of the Credit Agreement attached hereto as Exhibit A. Immediately after giving effect to the increase of the Aggregate Revolving Commitments and the amendment of the amount of each Lender’s Revolving Commitment as set forth on Schedule 2.01 of the Credit Agreement attached hereto as Exhibit A, each Lender (including each New Lender) is deemed to have purchased from (x) each L/C Issuer a risk participation in each outstanding Letter of Credit issued by such L/C Issuer in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Letter of Credit and (y) each Swing Line Lender a risk participation in each outstanding Swing Line Loan made by such Swing Line Lender in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Swing Line Loan.
Increase in Aggregate Revolving Commitments. The Company may at any time after the Fourth Amendment Effective Date and from time to time, upon prior written notice by the Company to the Administrative Agent, institute one or more Incremental Revolving Credit Increases; provided, that:
(A) (i) any such increase shall be in a minimum principal amount of $10 million (or, if less, the remaining amount of the Incremental Cap) and in integral multiples of $5 million (or, if less, the remaining amount of the Incremental Cap) in excess thereof;
(B) (ii) no Default or Event of Default shall be continuing at the time of any such increase;
Increase in Aggregate Revolving Commitments. Subject to the terms and conditions set forth herein and in the Credit Agreement (as amended by this Amendment), each of the Lenders hereby agrees to increase the amount of its respective Revolving Commitment on the Fifth Amendment Effective Date from the respective amount set forth in the applicable column opposite such Lender’s name (designated as such Lender’s “Revolving Commitment”) in the table set forth on Appendix A (Lenders, Commitments and Commitment Percentages) to the Credit Agreement, as such Appendix 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 “Revolving Commitment”) in the table set forth on such Appendix, as in effect immediately after giving effect to this Amendment. As of the Fifth Amendment Effective Date (after giving effect to this Amendment), the aggregate principal amount of the Aggregate Revolving Commitments is Seventy-Five Million Dollars ($75,000,000), as increased from Fifty Million Dollars ($50,000,000) as of the date that is immediately prior to the effectiveness of this Amendment.
Increase in Aggregate Revolving 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 Revolving Commitments (but not the Letter of Credit Sublimit or the Swing Line Sublimit) with additional Revolving Commitments from any existing Lender with a Revolving Commitment or new Revolving Commitments from any other Person selected by the Borrower and acceptable to the Administrative Agent, the Swing Line Lender and the L/C Issuer; 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 its Commitment and any such decision whether to increase its Commitment shall be in such Lender’s sole and absolute discretion;
(D) as a condition precedent to such increase, the Borrower shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the date of such increase (in sufficient copies for each Lender) signed by a Responsible Officer of such Loan Party (1) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and (2) in the case of the Borrower, certifying that, before and after giving effect to such increase, (x) the representations and warranties contained in Article VI and the other Loan Documents are true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality or reference to Material Adverse Effect) on and as of the date of such increase, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality or reference to Material Adverse Effect) as of such earlier date, and except that for purposes of this Section 2.02(f)(i), the representations and warranties contained in subsections (a) and (b) of Section 6.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 7.01, and (y) no Default or Event of Default exists;
(E) Schedule 2.01 shall be deemed revised to include any increase in the Aggregate Revolving Commitments pursuant to this Sec...
Increase in Aggregate Revolving Commitments. The Parent Borrower may, upon written notice to the Administrative Agent as provided above, increase the Aggregate Revolving Commitments; 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; 44 CHAR1\1732710v2
Increase in Aggregate Revolving Commitments