Common use of Increase of Commitments; Additional Lenders Clause in Contracts

Increase of Commitments; Additional Lenders. (a) The Borrowers may increase, upon the request of the Borrower Agent, the then effective amount of the Aggregate Revolving Credit Commitment; provided that: (i) the aggregate principal amount of the increases in the Aggregate Revolving Credit Commitment pursuant to this Section 2.16, shall not exceed Three Hundred Million Dollars ($300,000,000); (ii) the Borrowers shall execute and deliver such documents and instruments and take such other actions as may be reasonably required by the Agent in connection with such increases and at the time of any such proposed increase; (iii) subject to customary “Sungard” provisions, if and to the extent agreed to by the Increasing Lenders, (A) no Event of Default shall have occurred and be continuing or would occur after giving effect to such increase, and (B) all representations and warranties by or on behalf of each Loan Party and its Subsidiaries set forth in the Loan Documents shall be true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects) on and as of the date of such increase or, to the extent such representations and warranties expressly relate to an earlier date, true and correct in all material respects on and as of such earlier date; and (iv) the Incremental Revolving Credit Commitments provided under this Section 2.16 (the “Incremental Revolving Credit Commitments”) shall have an expiration date no earlier than the Termination Date.

Appears in 3 contracts

Samples: Loan and Security Agreement (Trade Desk, Inc.), Loan and Security Agreement (Trade Desk, Inc.), Loan and Security Agreement (Trade Desk, Inc.)

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Increase of Commitments; Additional Lenders. (a) The Borrowers may increase, upon the one time request of the Borrower Agent, the then effective amount of the Aggregate Revolving Credit Commitment; provided that: (i) the aggregate principal amount of the increases in the Aggregate Revolving Credit Commitment pursuant to this Section 2.16, shall not exceed Three Hundred Fifty Million Dollars ($300,000,00050,000,000); (ii) the Borrowers shall execute and deliver such documents and instruments and take such other actions as may be reasonably required by the Agent in connection with such increases and at the time of any such proposed increase; (iii) subject to customary “Sungard” provisions, if and to the extent agreed to by the Increasing Lenders, (A) no Default or Event of Default shall have occurred and be continuing or would occur after giving effect to such increase, increase and (B) all representations and warranties by or on behalf of each Loan Party and its Subsidiaries set forth in the Loan Documents shall be true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects) on and as of the date of such increase or, to the extent such representations and warranties expressly relate to an earlier date, true and correct in all material respects on and as of such earlier date; and (iv) the Incremental Revolving Credit Commitments provided under this Section 2.16 (the “Incremental Revolving Credit Commitments”) shall have an expiration date no earlier than the Termination Date.

Appears in 2 contracts

Samples: Loan and Security Agreement (Trade Desk, Inc.), Loan and Security Agreement (Trade Desk, Inc.)

Increase of Commitments; Additional Lenders. (a) The Borrowers may increase, upon the request of the Borrower Agent, the then effective amount of the Aggregate Revolving Credit Commitment; provided that: (i) the aggregate principal amount of the increases in the Aggregate Revolving Credit Commitment pursuant to this Section 2.16, shall not exceed Three One Hundred Million Dollars ($300,000,000100,000,000); (ii) the Borrowers shall execute and deliver such documents and instruments and take such other actions as may be reasonably required by the Agent in connection with such increases and at the time of any such proposed increase; (iii) subject to customary “Sungard” provisions, if and to the extent agreed to by the Increasing Lenders, (A) no Default or Event of Default shall have occurred and be continuing or would occur after giving effect to such increase, and (B) all representations and warranties by or on behalf of each Loan Party and its Subsidiaries set forth in the Loan Documents shall be true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects) on and as of the date of such increase or, to the extent such representations and warranties expressly relate to an earlier date, true and correct in all material respects on and as of such earlier date; and (iv) the Incremental Revolving Credit Commitments provided under this Section 2.16 (the “Incremental Revolving Credit Commitments”) shall have an expiration date no earlier than the Termination Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Trade Desk, Inc.)

Increase of Commitments; Additional Lenders. (a) The Borrowers may increase, upon the request of the Borrower Agent, the then effective amount of the Aggregate Revolving Credit Commitment; provided that: (i) the aggregate principal amount of the increases in the Aggregate Revolving Credit Commitment pursuant to this Section 2.16, shall not exceed Three One Hundred Million Dollars ($300,000,000100,000,000); (ii) the Borrowers shall execute and deliver such documents and instruments and take such other actions as may be reasonably required by the Agent in connection with such increases and at the time of any such proposed increase; (iii) subject to customary “Sungard” provisions, if and to the extent agreed to by the Increasing Lenders, (A) no Default or Event of Default shall have occurred and be continuing or would occur after giving effect to such increase, and (B) all representations and warranties by or on behalf of each Loan Party and its Subsidiaries set forth in the Loan Documents shall be true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects) on and as of the date of such increase or, to the extent such representations and warranties expressly relate to an earlier date, true and correct in all material respects on and as of such earlier date; and (iv) the Incremental Revolving Credit Commitments provided under this Section 2.16 (the “Incremental Revolving Credit Commitments”) shall have an expiration date no earlier than the Termination Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Trade Desk, Inc.)

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Increase of Commitments; Additional Lenders. (a) The Borrowers may increaseBorrower may, upon written notice to the request Administrative Agent (who shall promptly provide a copy of the Borrower Agentsuch notice to each Lender), the then effective amount of propose to increase the Aggregate Revolving Credit CommitmentCommitments by an amount not to exceed $50,000,000 (the amount of any such increase, the "Additional Commitment Amount"); provided that: that (i) the aggregate principal amount of the increases in the Aggregate Revolving Credit Commitment pursuant to this Section 2.16, shall not exceed Three Hundred Million Dollars ($300,000,000); (ii) the Borrowers shall execute and deliver such documents and instruments and take such other actions as may be reasonably required by the Agent in connection with such increases and at the time of any such proposed increase; (iii) subject to customary “Sungard” provisions, if and to the extent agreed to by the Increasing Lenders, (A) no Default or Event of Default shall have occurred and be continuing or would occur after giving effect to at the time of such increase, request and (Bii) all representations no Commitment of any Lender will be increased without the consent of such Lender, which shall be given or withheld in its sole discretion. If one or more of the Lenders is not increasing its applicable Commitment, then, with notice to the Administrative Agent and warranties the other Lenders, another one or more financial institutions, approved by the Borrower (an "Additional Lender"), may commit to provide an amount equal to the aggregate principal amount of the Additional Commitment Amount that will not be provided by the existing Lenders; provided, however, that (i) any Additional Lender must be acceptable to the Administrative Agent, which acceptance will not be unreasonably withheld or on behalf delayed and (ii) the new Commitment of each Loan Party and its Subsidiaries set forth Additional Lender shall be at least $5,000,000. The sum of the increases in the Loan Documents shall be true and correct in all material respects (other than those representations and warranties that are expressly qualified by a Material Adverse Effect or other materiality, in which case such representations and warranties shall be true and correct in all respects) on and as Revolving Commitments of the date existing Lenders pursuant to this subsection (a) plus the Revolving Commitments of such increase or, to the extent such representations and warranties expressly relate to an earlier date, true and correct Additional Lenders shall not in all material respects on and as the aggregate exceed the amount of such earlier date; and (iv) the Incremental Revolving Credit Commitments provided under this Section 2.16 (the “Incremental Revolving Credit Commitments”) shall have an expiration date no earlier than the Termination DateAdditional Commitment Amount.

Appears in 1 contract

Samples: Credit and Term Loan Agreement (FGX International Holdings LTD)

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