Increase of Commitment; Facility Amount Sample Clauses
The 'Increase of Commitment; Facility Amount' clause defines the process by which the total amount available under a loan facility can be increased, typically at the request of the borrower and with the agreement of the lenders. This clause outlines the conditions under which additional lenders may join or existing lenders may increase their commitments, often specifying notice requirements, documentation, and any limits on the maximum facility amount. Its core function is to provide flexibility for the borrower to access additional funding under the same facility, while ensuring that all parties are clear on the procedures and limits for such increases.
Increase of Commitment; Facility Amount. At any time during the Revolving Period, provided that no Default or Event of Default has occurred and is continuing, the Commitment for any Lender may be increased in connection with a corresponding increase in the Facility Amount upon the written request of the Borrower with the consent of the Administrative Agent and such Lender (and with notice to the Collateral Custodian) (an “Increased Commitment”); provided that, (i) following such Increased Commitment, the Facility Amount shall not exceed $500,000,000, and (ii) any increase in the Facility Amount shall be in a minimum amount of $25,000,000. Except for upfront fees payable to Lenders providing any Increased Commitment, any such Increased Commitment shall be on the same terms (including the pricing and maturity date) as, and pursuant to the documentation applicable to, the Commitments provided pursuant to the Agreement as of the Effective Date. Prior to, or on the date of, the effectiveness of any such Increased Commitment, if requested by the Administrative Agent or any increasing Lender, the Borrower shall execute and deliver to the applicable Lender a revised Note in an aggregate face amount equal to such ▇▇▇▇▇▇’s revised Commitment. The Borrower confirms that each Lender, in its sole and absolute discretion, without regard to the value or performance of the facility documented hereby or any other factor, may elect not to increase its Commitment. Upon such increase, Annex B hereto shall be deemed to be revised to reflect such increase in each increasing Lender’s Commitment.
Increase of Commitment; Facility Amount. (a) At any time during the Revolving Period, provided that no Event of Default has occurred and is continuing, the Commitment for any Lender may be increased in connection with a corresponding increase in the Facility Amount with the prior written consent of the Borrower, the Administrative Agent and such Lender; provided that, following such Commitment increase, the Facility Amount shall not exceed $250,000,000.00. Prior to the effectiveness of any such increase, the Borrower shall execute and deliver to the applicable Lender a revised Note in an aggregate face amount equal to the revised Commitment. The Borrower confirms that each Lender, in its sole and absolute discretion, without regard to the value or performance of the Loans or any other factor, may elect not to increase its Commitment. Upon such increase, Annex A hereto shall be deemed to be revised to reflect such increase in such Lender’s Commitment.
(b) The Borrower may, with the written consent of the Administrative Agent, add additional Persons as ▇▇▇▇▇▇▇. Each additional Lender shall become a party hereto by executing and delivering to the Administrative Agent and the Borrower a Joinder Supplement and a Transferee Letter.
Increase of Commitment; Facility Amount. (a) At any time during the Revolving Period, provided that no Event of Default has occurred and is continuing, the Commitment for any Lender may be increased in connection with a corresponding increase in the Facility Amount with the prior written consent of the Borrower, the Administrative Agent and such Lender; provided that, following such Commitment increase, the Facility Amount shall not exceed $100,000,000.00. Prior to the effectiveness of any [Investcorp] Loan and Security Agreement such increase, the Borrower shall execute and deliver to the applicable Lender a revised Note in an aggregate face amount equal to the revised Commitment. The Borrower confirms that each Lender, in its sole and absolute discretion, without regard to the value or performance of the Loans or any other factor, may elect not to increase its Commitment. Upon such increase, Annex A hereto shall be deemed to be revised to reflect such increase in such Lender’s Commitment. Any such increase shall be in a minimum aggregate principal amount of $10,000,000 and integral multiples of $5,000,000.00 in excess thereof (or such lesser amounts as may be agreed by Borrower and Administrative Agent).
(b) The Borrower may, with the written consent of the Administrative Agent, add additional Persons as ▇▇▇▇▇▇▇. Each additional Lender shall become a party hereto by executing and delivering to the Administrative Agent and the Borrower a Joinder Supplement and a Transferee Letter.