Common use of Increase in Maximum Credit Clause in Contracts

Increase in Maximum Credit. (a) Lead Borrower may, at any time, deliver a written request to Administrative Agent to increase the Tranche A Maximum Credit. Any such written request shall specify the amount of the increase in the Tranche A Maximum Credit that Borrowers are requesting, provided, that, (i) in no event shall the aggregate amount of any such increase cause the Maximum Credit to exceed $1,400,000,000, (ii) any such request shall be for an increase of not less than $50,000,000, (iii) any such request shall be irrevocable, (iv) in no event shall there be more than four (4) such increases and (v) as of the date of any such increase, and after giving effect thereto, no Default or Event of Default shall exist or have occurred and be continuing.

Appears in 2 contracts

Samples: Loan and Security Agreement (Nash Finch Co), Loan and Security Agreement (Spartan Stores Inc)

AutoNDA by SimpleDocs

Increase in Maximum Credit. (a) Lead Borrower may, at any time, deliver a written request to Administrative Agent to increase the Tranche A Maximum Credit. Any such written request shall specify the amount of the increase in the Tranche A Maximum Credit that Borrowers are requesting, provided, that, (i) in no event shall the aggregate amount of any such increase cause the Maximum Credit to exceed $1,400,000,000300,000,000, (ii) any such request shall be for an increase of not less than $50,000,00020,000,000, (iii) any such request shall be irrevocable, (iv) in no event shall there be more than four three (43) such increases and (v) as of the date of any such increase, and after giving effect thereto, no Default or Event of Default shall exist or have occurred and be continuing.

Appears in 1 contract

Samples: Loan and Security Agreement (Spartan Stores Inc)

Increase in Maximum Credit. (a) Lead Borrower may, at any time, deliver a written request to Administrative Agent to increase the Tranche A Maximum Credit. Any such written request shall specify the 66 amount of the increase in the Tranche A Maximum Credit that Borrowers are requesting, provided, that, (i) in no event shall the aggregate amount of any such increase cause the Maximum Credit to exceed $1,400,000,000, (ii) any such request shall be for an increase of not less than $50,000,000, (iii) any such request shall be irrevocable, (iv) in no event shall there be more than four (4) such increases and (v) as of the date of any such increase, and after giving effect thereto, no Default or Event of Default shall exist or have occurred and be continuing.

Appears in 1 contract

Samples: Loan and Security Agreement (SpartanNash Co)

AutoNDA by SimpleDocs

Increase in Maximum Credit. (a) Lead Borrower may, at any time, deliver a written request to Administrative Agent to increase the Tranche A Maximum Credit. Any such written request shall specify the amount of the increase in the Tranche A Maximum Credit that Borrowers are requesting, provided, that, (i) in no event shall the aggregate amount of any such increase cause the Maximum Credit to exceed $1,400,000,000, (ii) any such request shall be for an increase of not less than $50,000,000, (iii) any such request shall be irrevocable, (iv) in no event shall there be more than four (4) such increases and (v) as of the date of any such increase, and after giving effect thereto, no Default or Event of Default shall exist or have occurred and be continuing.. 6991691.13 74

Appears in 1 contract

Samples: Loan and Security Agreement (SpartanNash Co)

Time is Money Join Law Insider Premium to draft better contracts faster.