Increase in Maximum Amount Sample Clauses
The "Increase in Maximum Amount" clause allows for the adjustment of the upper limit on a financial commitment, such as a loan or credit facility, during the term of an agreement. Typically, this clause outlines the conditions under which the maximum amount can be raised, such as requiring mutual consent, meeting certain financial benchmarks, or following a formal request process. Its core practical function is to provide flexibility for the parties, enabling them to accommodate changing financial needs or opportunities without renegotiating the entire agreement.
Increase in Maximum Amount. The Issuer may from time to time increase the Maximum Amount by:
(a) giving at least 10 days’ notice by letter in substantially the form of Schedule 3 to each Dealer and to the Agent; and
(b) delivering to each Dealer with that letter the documents referred to in that letter, in each case in form and substance acceptable to each Dealer.
Increase in Maximum Amount. Section 1. Pursuant to and in accordance with Section 14.01(a)(xvi) of the Indenture, the amount of Five Hundred Million Dollars ($500,000,000) referenced in Section 3.01(a) of the Indenture is hereby increased to One Billion Dollars ($1,000,000,000). This Article I, Section 1 shall become effective upon the filing for record of this Nineteenth Supplemental Indenture in all counties in which the Mortgaged Property is located.
Increase in Maximum Amount. Solely during the Increase Period, the definition of “Maximum Amount” in Section 1.1 of the Loan Agreement is hereby amended to mean One Hundred Sixty-Five Million and 00/100 Dollars ($165,000,000.00). During the Increase Period, all references to the term “Maximum Amount” in the Credit Documents shall mean such term as amended hereby, including, without limitation, as referenced in the sublimits set forth in Section 2.11 of the Loan Agreement. The parties hereto acknowledge and agree that the Commitments of Bank of America, Citicorp and Comerica (the “Participating Banks”) shall increase during the Increase Period and the Commitments of the other Banks shall not change. Accordingly, Section IV of Schedule A to the Loan Agreement, which sets forth the Commitment and Commitment Percentage of each Bank, is hereby amended by deleting it in its entirety and substituting Section IV of Schedule A attached to this Amendment in its stead. Upon expiration of the Increase Period, Section IV of Schedule A to the Loan Agreement as it existed immediately prior to the date of this Amendment shall be in full force and effect.
Increase in Maximum Amount. Section 1.1 of the Loan Agreement is hereby amended to change the "Maximum Amount" as defined therein to $11,000,000.00.
Increase in Maximum Amount. The Maximum Amount under the Loan Agreement is hereby increased from $15,000,000 to $20,000,000. Accordingly, the definition of the term “Maximum Amount” set forth in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety as follows:
Increase in Maximum Amount. The aggregate principal amount of the Notes issued in the Offering is hereby increased from $1,275,000 to $1,775,000.
Increase in Maximum Amount. (a) Requests for Increase by the Company. The Company may at any time and from time to time (but in no event more frequently than three times) propose that the Maximum Amount be increased by an amount equal to $60,000,000 in the aggregate (any such proposed increase being an "Increase"), by notice to the Administrative Agent specifying the existing Lender(s) (the "Increasing Lender(s)") and up to five (5) additional lenders in the aggregate (the "Assuming Lender(s)") that will be providing Commitments, and the date on which such Increase is to be effective (an "Increase Date"), which shall be a Business Day at least 10 Business Days after delivery of such notice and prior to the Commitment Termination Date; provided that:
(i) each Increase shall not in be in an amount less than $15,000,000 and in no event shall all such Increases be in an amount in excess of $60,000,000;
(ii) an increase in the Maximum Amount shall not result in an increase or decrease in the Total Revolving Credit Commitment or the Total Letter of Credit Commitment;
(iii) no Default or Event of Default shall have occurred and be continuing on such Increase Date or shall result from the proposed Increase;
(iv) the representations and warranties contained in Article IV shall be true and correct in all material respects on and as of the Increase Date as if made on and as of such date except to the extent such representations and warranties relate to an earlier date in which case they shall be true and correct in all material respects as of such earlier date;
(v) the Administrative Agent shall have consented to any Assuming Lender in accordance with Section 10.05 (c) hereof; and
(vi) the Assuming Lender or Increasing Lender shall assume or increase, as applicable, a Letter of Credit Commitment and a Revolving Credit Commitment in equal amounts.