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

Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time after the Closing Date, Borrower may, upon at least 30 days’ written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate Revolving Commitments by an amount not to exceed $130,000,000 (the amount of any such increase, the “Additional Commitment Amount”). Each Lender shall have the right for a period of 15 days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Revolving Commitment shall be made in its sole discretion independently from any other Lender. If any Lender shall fail to notify the Administrative Agent in writing within 15 days after receipt of such notice, such Lender shall be deemed to have declined to increase its Revolving Commitment.

Appears in 1 contract

Samples: Pledge Agreement (Heico Corp)

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Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time after the Closing Date, Borrower may, upon at least 30 days' written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), who shall promptly notify the Lenders, propose to increase the Aggregate Revolving Commitments by Commitment Amount up to an amount not to exceed $130,000,000 300,000,000 (the amount of any such increase, the “Additional Commitment Amount”"ADDITIONAL COMMITMENT AMOUNT"). Each Lender shall have the right for a period of 15 days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Revolving Commitment shall be made in its sole discretion independently from any other Lender. If any Lender shall fail to notify the Administrative Agent in writing within 15 days after receipt of such notice, such Lender shall be deemed to have declined to increase its Revolving Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Swift Transportation Co Inc)

Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time after the Closing Date, the Borrower may, upon at least 30 days’ written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate Revolving Commitments by an amount not to exceed $130,000,000 25,000,000 in the aggregate (the amount of any such increase, the “Additional Commitment Amount”); provided, that any such increase shall be in an amount of not less than $10,000,000. Each Lender shall have the right for a period of 15 days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Revolving Commitment shall be made in its sole discretion independently from any other Lender. If any Lender shall fail to notify the Administrative Agent in writing within 15 days after receipt of such notice, such Lender shall be deemed to have declined to increase its Revolving Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Boston Private Financial Holdings Inc)

Increase of Commitments; Additional Lenders. (a) So long as no Potential Default or Event of Default has occurred and is continuing, Borrower may, from time to time after the Closing Date, Borrower maytime, upon at least 30 days’ written prior notice to the Administrative Agent (who which shall promptly provide a copy of such notice to notify each LenderLender following its receipt thereof), propose to increase the Aggregate Revolving total Commitments by up to an amount in each instance not less than $50,000,000, but in no event by more than an amount that would cause the total Commitments to exceed $130,000,000 700,000,000 (the amount of any such increase, the “Additional Commitment Amount”). Each Lender shall have the right for a period of 15 days following receipt of such notice, notice to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Commitment by a principal amount equal to its Pro Rata Share pro rata share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Commitment or its other obligations under this Agreement and or the other Loan Credit Documents, and any decision by a Lender to increase its Revolving Commitment shall be made in its sole discretion independently from any other Lender. If Lender and any Lender shall fail to notify the Administrative Agent in writing which does not respond within such 15 days after receipt of such notice, such Lender day period shall be deemed to have declined advised the Administrative Agent and the Borrower that it elected not to increase its Revolving Commitment.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time after the Closing Restatement Date, the Borrower may, upon at least 30 days’ written notice to the Administrative Agent (who shall promptly provide a copy and each of such notice to each Lender)the Lenders that the Borrower selects for participation, propose to increase the Aggregate Revolving Commitments by to an amount not to exceed $130,000,000 1,000,000,000 (the amount of any such increase, the “Additional Commitment Amount”). The Borrower may also invite one or more Eligible Assignees to become additional Lenders for all or any part of the Additional Commitment Amount provided that any new bank or financial institution must be reasonably acceptable to the Administrative Agent and shall execute a joinder agreement in form and substance satisfactory to the Administrative Agent. Each selected Lender (and Eligible Assignee, if applicable) shall have the right for a period of 15 days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment AmountAmount as indicated in such notice. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Revolving Commitment shall be made in its sole discretion independently from any other Lender. If any Lender shall fail to notify the Administrative Agent in writing within 15 days after receipt of such notice, such Lender shall be deemed to have declined to increase its Revolving Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (ONEOK Partners LP)

Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time after the Closing Date, Borrower the Parent may, upon at least 30 days’ written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), who shall promptly notify the Lenders, propose to increase the Aggregate Revolving Commitments by Commitment Amount up to an amount not to exceed $130,000,000 200,000,000 (the amount of any such increase, the “Additional Commitment Amount”). Each Lender shall have the right for a period of 15 days following receipt of such notice, to elect by written notice to the Borrower Parent and the Administrative Agent to increase its Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Revolving Commitment shall be made in its sole discretion independently from any other Lender. If any Lender shall fail to notify the Administrative Agent in writing within 15 days after receipt of such notice, such Lender shall be deemed to have declined to increase its Revolving Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Checkfree Corp \Ga\)

Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time after the Closing Date, Borrower may, upon at least 30 days' written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate Revolving Commitments by an amount not to exceed $130,000,000 200,000,000 (the amount of any such increase, the "Additional Commitment Amount"). Each Lender shall have the right for a period of 15 days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Revolving Commitment shall be made in its sole discretion independently from any other Lender. If any Lender shall fail to notify the Administrative Agent in writing within 15 days after receipt of such notice, such Lender shall be deemed to have declined to increase its Revolving Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Heico Corp)

Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time after the Closing Date, the Borrower may, upon at least 30 days’ by written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate Senior Revolving Commitments by to an amount not to exceed $130,000,000 175,000,000 (the amount of any such increase, the “Additional Commitment Amount”). Each At the election of the Borrower, if specified in such notice, each Lender shall have the right for a period of 15 days Business Days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Senior Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Senior Revolving Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Senior Revolving Commitment shall be made in its sole discretion independently from any other Lender. If any Lender shall fail to notify the Administrative Agent in writing within 15 days after receipt of such notice, such Lender shall be deemed to have declined to increase its Revolving Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (NGP Capital Resources CO)

Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time after the Closing Date, Borrower may, upon at least 30 days’ written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate Revolving Commitments Maximum Commitment Amount by an amount not to exceed $130,000,000 50,000,000 (the amount of any such increase, the “Additional Commitment Amount”). Each Lender shall have the right for a period of 15 days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Maximum Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Maximum Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Revolving Maximum Commitment shall be made in its sole discretion independently from any other Lender. If any Lender shall fail to notify the Borrower and the Administrative Agent in writing about whether it will increase its Maximum Commitment within 15 days after receipt of such notice, such Lender shall be deemed to have declined to increase its Revolving Maximum Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ram Energy Resources Inc)

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Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time after the Closing Date, the Borrower may, upon at least 30 days’ by written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate Senior Revolving Commitments by to an amount not to exceed $130,000,000 110,000,000 (the amount of any such increase, the “Additional Commitment Amount”). Each At the election of the Borrower, if specified in such notice, each Lender shall have the right for a period of 15 days Business Days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Senior Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Senior Revolving Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Senior Revolving Commitment shall be made in its sole discretion independently from any other Lender. If any Lender shall fail to notify the Administrative Agent in writing within 15 days after receipt of such notice, such Lender shall be deemed to have declined to increase its Revolving Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (NGP Capital Resources Co)

Increase of Commitments; Additional Lenders. (a) So long as no Potential Default or Event of Default has occurred and is continuing, Borrower may, from time to time after the Closing Date, Borrower maytime, upon at least 30 days’ written prior notice to the Administrative Agent (who which shall promptly provide a copy of such notice to notify each LenderLender following its receipt thereof), propose to increase the Aggregate Revolving total Commitments by up to an amount in each instance not less than $50,000,000, but in no event by more than an amount that would cause the total Commitments to exceed $130,000,000 750,000,000 (the amount of any such increase, the “Additional Commitment Amount”). Each Lender shall have the right for a period of 15 days following receipt of such notice, notice to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Commitment by a principal amount equal to its Pro Rata Share pro rata share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Commitment or its other obligations under this Agreement and or the other Loan Credit Documents, and any decision by a Lender to increase its Revolving Commitment shall be made in its sole discretion independently from any other Lender. If Lender and any Lender shall fail to notify the Administrative Agent in writing which does not respond within such 15 days after receipt of such notice, such Lender day period shall be deemed to have declined advised the Administrative Agent and the Borrower that it elected not to increase its Revolving Commitment.

Appears in 1 contract

Samples: Credit Agreement (Teppco Partners Lp)

Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time after the Closing Date, Borrower may, upon at least 30 days' written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), who shall promptly notify the Lenders, propose to increase the Aggregate Revolving Commitments by Commitment Amount up to an amount not to exceed $130,000,000 150,000,000 (the amount of any such increase, the "Additional Commitment Amount"). Each Lender shall have the right for a period of 15 days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Revolving Commitment shall be made in its sole discretion independently from any other Lender. If any Lender shall fail to notify the Administrative Agent in writing within 15 days after receipt of such notice, such Lender shall be deemed to have declined to increase its Revolving Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Priority Healthcare Corp)

Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time after the Closing Date, the Borrower may, upon at least 30 days’ by written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate Senior Revolving Commitments by to an amount not to exceed $130,000,000 125,000,000 (the amount of any such increase, the “Additional Commitment Amount”). Each At the election of the Borrower, if specified in such notice, each Lender shall have the right for a period of 15 days Business Days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Senior Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Senior Revolving Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Senior Revolving Commitment shall be made in its sole discretion independently from any other Lender. If any Lender shall fail to notify the Administrative Agent in writing within 15 days after receipt of such notice, such Lender shall be deemed to have declined to increase its Revolving Commitment.

Appears in 1 contract

Samples: Revolving Credit Agreement (NGP Capital Resources Co)

Increase of Commitments; Additional Lenders. (a) So long as no Event of Default has occurred and is continuing, from time to time on or after the Closing Date, Borrower may, upon at least 30 days’ written notice to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate Revolving Commitments Commitment Amount by an amount not to exceed $130,000,000 100,000,000 (the amount of any such increase, the “Additional Commitment Amount”). Each Lender shall have the right for a period of 15 days following receipt of such notice, to elect by written notice to the Borrower and the Administrative Agent to increase its Revolving Commitment by a principal amount equal to its Pro Rata Share of the Additional Commitment Amount. No Lender (or any successor thereto) shall have any obligation to increase its Revolving Commitment or its other obligations under this Agreement and the other Loan Documents, and any decision by a Lender to increase its Revolving Commitment shall be made in its sole discretion independently from any other Lender. If any Any Lender shall fail that fails to notify the Administrative Agent in writing deliver written notice electing to increase its Revolving Commitment within such 15 days after receipt of such notice, such Lender shall be deemed to have declined elected not to increase its Revolving Commitmentparticipate in such increase.

Appears in 1 contract

Samples: Revolving Credit Agreement (Watson Wyatt & Co Holdings)

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