Increase in the Maximum Facility Amount. (a) Each Lender may, in their sole discretion, at the request of Borrower, increase the Commitment to the amount requested by the Borrower by increasing its Commitment, subject to the following conditions:
(i) Xxxxxxxx has delivered to Administrative Agent and Lenders a Facility Increase Request no less than sixty (60) days’ prior to the date of the proposed increase;
(ii) The Borrower has executed a replacement Note payable to the order of Lenders in the outstanding principal amount of the increased Commitment;
(iii) After giving effect to the increase in the Commitment, the Maximum Facility Amount will not exceed the Maximum Amount;
(iv) No Event of Default or Default has occurred and is continuing or would result from such increase in the Commitment;
(v) No Material Adverse Event has occurred;
(vi) Borrower is in compliance with the financial covenants set forth in Section 2 of the Pricing Side Letter;
(vii) As of the date of such increase, the representations and warranties contained in Section 6 and in each other Loan Document are true and correct in all material respects, with the same force and effect as if made on and as of such date; except to the extent that such representations and warranties specifically refer to any earlier date, in which case they were true and correct as of such earlier date and except that for the purposes of this Section 2.4, the representations and warranties contained in Section 6.2 will be deemed, as of the date of such increase, to refer to the then-most recent financial statements furnished pursuant to clauses (a) and (b), respectively, of Section 7.1;
(viii) Administrative Agent has received written consent from Freddie Mac, consenting to the increase to the Commitment; and
(ix) Administrative Agent has provided Borrower with Xxxxxxx’ written consent to such increase.
(a) Notwithstanding anything to the contrary set forth herein, any increase in the Commitment is subject in all respects to the written consent (which may be by email) of the Administrative Agent (on behalf of the Lenders).
(b) If Administrative Agent deems it advisable in its discretion, Xxxxxxxx and Xxxxxxx agree to execute an amendment to this Agreement, in form and substance acceptable to Lenders, to document an increase in the Commitment pursuant to this Section 2.5.
Increase in the Maximum Facility Amount. (a) Each Lender may, in their sole discretion, at the request of Borrower, increase the Commitment to the amount requested by the Borrower by increasing its Commitment, subject to the following conditions:
Increase in the Maximum Facility Amount. (a) Each Lender may, in their sole discretion, at the request of Borrower, increase the Commitment to the amount requested by the Borrower by increasing its Commitment, subject to the following conditions:
(i) Borrower has delivered to Administrative Agent and Lenders a Facility Increase Request no less than [***] prior to the date of the proposed increase;
(ii) The Borrower has executed a replacement Revolving Credit Note payable to the Administrative Agent on behalf of the Lenders in the outstanding principal amount of the increased Commitment;
Increase in the Maximum Facility Amount
