Common use of Increase of Total Commitment Clause in Contracts

Increase of Total Commitment. Unless a Default or Event of Default has occurred and is continuing, BGI may request, with prior written notice to the Administrative Agent, and subject to the approval of the Administrative Agent if with respect to a new lender, that the Total Commitment be increased, provided that the Total Commitment shall not, except with the consent of the Required Lenders, in any event exceed $600,000,000 hereunder, and provided, further, that (i) any Lender which is a party to this Revolving Credit Agreement prior to such increase shall have the first option to increase its Commitment hereunder, but no Lender shall have any obligation to do so, (ii) in the event that it becomes necessary to include a new Lender to provide additional funding under this §2.3.1, such new Lender must be reasonably acceptable to the Administrative Agent and BGI, and (iii) the Lenders’ Commitment Percentages shall be correspondingly adjusted, as necessary, to reflect any increase in the Total Commitment and Schedule 1 shall be amended to reflect such adjustments. Each increase in the Total Commitment shall be in a minimum aggregate amount of $10,000,000 or a whole multiple of $1,000,000 in excess thereof.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Barnes Group Inc), Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)

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Increase of Total Commitment. Unless a Default or Event of Default has occurred and is continuing, BGI may request, with prior written notice to the Administrative Agent, and subject to the approval of the Administrative Agent if with respect to a new lender, that the Total Commitment be increased, provided that the Total Commitment shall not, except with the consent of the Required Lenders, in any event exceed $600,000,000 1,250,000,000 hereunder, and provided, further, that (i) any Lender which is a party to this Revolving Credit Agreement prior to such increase shall have the first option to increase its Commitment hereunder, but no Lender shall have any obligation to do so, (ii) in the event that it becomes necessary to include a new Lender to provide additional funding under this §2.3.1, such new Lender must be reasonably acceptable to the Administrative Agent and BGI, and (iii) the Lenders’ Commitment Percentages shall be correspondingly adjusted, as necessary, to reflect any increase in the Total Commitment and Schedule 1 shall be amended to reflect such adjustmentsadjustments and (iv) BGI may make a maximum of two such requests. Each increase in the Total Commitment shall be in a minimum aggregate amount of $10,000,000 or a whole multiple of $1,000,000 in excess thereof.

Appears in 2 contracts

Samples: Credit Agreement (Barnes Group Inc), Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)

Increase of Total Commitment. Unless a Default or Event of Default has occurred and is continuing, BGI the Borrowers may requestrequest that the Total Commitment be increased by an aggregate amount of up to $5,000,000 provided that the Total Commitment shall not in any event exceed $265,000,000 hereunder, with prior written notice to the Administrative Agent, and subject to the approval of the Administrative Agent if with respect to a new lenderAgent, that the Total Commitment be increasedPROVIDED, provided that the Total Commitment shall not, except with the consent of the Required Lenders, in any event exceed $600,000,000 hereunder, and provided, furtherHOWEVER, that (i) any Revolving Credit Lender which is a party to this Revolving Credit Agreement prior to such increase shall have the first option option, and may elect, to increase fund its PRO RATA share of the increase, thereby increasing its Commitment hereunder, but no Revolving Credit Lender shall have any obligation be required to do so, (ii) in the event that it becomes necessary to include a new Revolving Credit Lender to provide additional funding under this §2.3.1SECTION 2.2.2, such new Revolving Credit Lender must be reasonably acceptable to the Administrative Agent and BGIthe Borrowers, and (iii) the Revolving Credit Lenders' Commitment Percentages shall be correspondingly adjusted, as necessary, to reflect any increase in the Total Commitment and Schedule SCHEDULE 1 shall be amended to reflect such adjustments. Each Notwithstanding the above, an increase will not be made in the Total Commitment shall be in a minimum aggregate amount if such increase is prohibited pursuant to the terms of $10,000,000 or a whole multiple of $1,000,000 in excess thereofthe Subordinated Debt.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Nationsrent Inc)

Increase of Total Commitment. Unless a Default or Event of Default has occurred and is continuing, BGI the Borrower may request, with prior written notice to the Administrative Agent, and subject to the approval of the Administrative Agent if with respect to a new lender, that the Total Commitment be increased, provided that the Total Commitment shall not, except with the consent of the Required Lenders, in any event exceed $600,000,000 250,000,000 hereunder, and provided, further, that (i) any Lender which is a party to this Revolving Credit Agreement prior to such increase shall have the first option to increase its Commitment hereunder, but no Lender shall have any obligation to do so, (ii) in the event that it becomes necessary to include a new Lender to provide additional funding under this §2.3.1, such new Lender must be reasonably acceptable to the Administrative Agent and BGIthe Borrower, and (iii) the Lenders’ Commitment Percentages shall be correspondingly adjusted, as necessary, to reflect any increase in the Total Commitment and Schedule 1 shall be amended to reflect such adjustments. Each increase in the Total Commitment shall be in a minimum aggregate amount of $10,000,000 or a whole multiple of $1,000,000 in excess thereof.

Appears in 1 contract

Samples: Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)

Increase of Total Commitment. Unless a Default or Event of Default has occurred and is continuing, BGI may request, with prior written notice to the Administrative Agent, and subject to the approval of the Administrative Agent if with respect to a new lender, that the Total Commitment be increased, provided that the Total Commitment shall not, except with the consent of the Required Lenders, in any event exceed $600,000,000 750,000,000 hereunder, and provided, further, that (i) any Lender which is a party to this Revolving Credit Agreement prior to such increase shall have the first option to increase its Commitment hereunder, but no Lender shall have any obligation to do so, (ii) in the event that it becomes necessary to include a new Lender to provide additional funding under this §2.3.1, such new - 33- Lender must be reasonably acceptable to the Administrative Agent and BGI, and (iii) the Lenders’ Commitment Percentages shall be correspondingly adjusted, as necessary, to reflect any increase in the Total Commitment and Schedule 1 shall be amended to reflect such adjustments. Each increase in the Total Commitment shall be in a minimum aggregate amount of $10,000,000 or a whole multiple of $1,000,000 in excess thereof.

Appears in 1 contract

Samples: Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)

Increase of Total Commitment. Unless a Default or Event of Default has occurred and is continuing, BGI may request, with prior written notice to the Administrative Agent, and subject to the approval of the Administrative Agent if with respect to a new lender, that the Total Commitment be increased, provided that the Total Commitment shall not, except with the consent of the Required Lenders, in any event exceed $600,000,000 750,000,000 hereunder, and provided, further, that (i) any Lender which is a party to this Revolving Credit Agreement prior to such increase shall have the first option to increase its Commitment hereunder, but no Lender shall have any obligation to do so, (ii) in the event that it becomes necessary to include a new Lender to provide additional funding under this §2.3.1, such new Lender must be reasonably acceptable to the Administrative Agent and BGI, and (iii) the Lenders’ Commitment Percentages shall be correspondingly adjusted, as necessary, to reflect any increase in the Total Commitment and Schedule 1 shall be amended to reflect such adjustments. Each increase in the Total Commitment shall be in a minimum aggregate amount of $10,000,000 or a whole multiple of $1,000,000 in excess thereof.

Appears in 1 contract

Samples: Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)

Increase of Total Commitment. Unless a Default or Event of Default has occurred and is continuing, BGI the Borrower may request, with prior written notice to the Administrative Agent, and subject to the approval of the Administrative Agent if with respect to a new lender, that the Total Commitment be increased, provided that the Total Commitment shall not, except with the consent of the Required Lenders, in any event exceed $600,000,000 200,000,000 hereunder, and provided, further, that (i) any Lender which is a party to this Revolving Credit Agreement prior to such increase shall have the first option to increase its Commitment hereunder, but no Lender shall have any obligation to do so, (ii) in the event that it becomes necessary to include a new Lender to provide additional funding under this §2.3.1(S)2.3.1, such new Lender must be reasonably acceptable to the Administrative Agent and BGIthe Borrower, and (iii) the Lenders' Commitment Percentages shall be correspondingly adjusted, as necessary, to reflect any increase in the Total Commitment and Schedule 1 shall be amended to reflect such adjustments. Each increase in the Total Commitment shall be in a minimum aggregate amount of $10,000,000 or a whole multiple of $1,000,000 in excess thereof.

Appears in 1 contract

Samples: Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)

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Increase of Total Commitment. Unless a Default or Event of Default has occurred and is continuing, BGI may request, with prior written notice to the Administrative Agent, and subject to the approval of the Administrative Agent if with respect to a new lender, that the Total Commitment be increased, provided that the Total Commitment shall not, except with the consent of the Required Lenders, in any event exceed $600,000,000 250,000,000 hereunder, and provided, further, that (i) any Lender which is a party to this Revolving Credit Agreement prior to such increase shall have the first option to increase its Commitment hereunder, but no Lender shall have any obligation to do so, (ii) in the event that it becomes necessary to include a new Lender to provide additional funding under this §2.3.1, such new Lender must be reasonably acceptable to the Administrative Agent and BGI, and (iii) the Lenders’ Commitment Percentages shall be correspondingly adjusted, as necessary, to reflect any increase in the Total Commitment and Schedule 1 shall be amended to reflect such adjustments. Each increase in the Total Commitment shall be in a minimum aggregate amount of $10,000,000 or a whole multiple of $1,000,000 in excess thereof.

Appears in 1 contract

Samples: Senior Unsecured Revolving Credit Agreement (Barnes Group Inc)

Increase of Total Commitment. Unless a Default or Event of Default has occurred and is continuing, BGI the Borrowers may request, with prior written notice on more than one occasion, that the Total Commitment be increased by an aggregate amount of up to $40,000,000 provided that the Administrative AgentTotal Commitment shall not in any event exceed $265,000,000 hereunder, and subject to the approval of the Administrative Agent if with respect to a new lenderAgent, that the Total Commitment be increased, provided that the Total Commitment shall not, except with the consent of the Required Lenders, in any event exceed $600,000,000 hereunder, and provided, furtherhowever, that (i) any Lender Bank which is a party to this Revolving Credit Agreement prior to such increase shall have the first option option, and may elect, to increase fund its pro rata share of the increase, thereby increasing its Commitment hereunder, but no Lender Bank shall have any obligation be required to do so, (ii) in the event that it becomes necessary to include a new Lender Bank to provide additional funding under this §2.3.1ss.2.2.2, such new Lender Bank must be reasonably acceptable to the Administrative Agent and BGIthe Borrowers, and (iii) the Lenders’ Banks' Commitment Percentages shall be correspondingly adjusted, as necessary, to reflect any increase in the Total Commitment and Schedule 1 shall be amended to reflect such adjustments. Each Notwithstanding the above, an increase will not be made in the Total Commitment shall be in a minimum aggregate amount if such increase is prohibited pursuant to the terms of $10,000,000 or a whole multiple of $1,000,000 in excess thereofthe Subordinated Debt.

Appears in 1 contract

Samples: Revolving Credit Agreement (Nationsrent Inc)

Increase of Total Commitment. Unless a Default or Event of Default has occurred and is continuing, BGI may request, with prior written notice to the Administrative Agent, and subject to the approval of the Administrative Agent if with respect to a new lender, that the Total Commitment be increased, provided that the Total Commitment shall not, except with the consent of the Required Lenders, in any event exceed $600,000,000 1,000,000,000 hereunder, and provided, further, that (i) any Lender which is a party to this Revolving Credit Agreement prior to such increase shall have the first option to increase its Commitment hereunder, but no Lender shall have any obligation to do so, (ii) in the event that it becomes necessary to include a new Lender to provide additional funding under this §2.3.1, such new Lender must be reasonably acceptable to the Administrative Agent and BGI, and (iii) the Lenders’ Commitment Percentages shall be correspondingly adjusted, as necessary, to reflect any increase in the Total Commitment and Schedule 1 shall be amended to reflect such adjustments. Each increase in the Total Commitment shall be in a minimum aggregate amount of $10,000,000 or a whole multiple of $1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Barnes Group Inc)

Increase of Total Commitment. Unless a Default or Event of Default has occurred and is continuing, BGI may request, with prior written notice to the Administrative Agent, and subject to the approval of the Administrative Agent if with respect to a new lender, that the Total Commitment be increased, provided that the Total Commitment shall not, except with the consent of the Required Lenders, in any event exceed $600,000,000 1,250,000,000 hereunder, and provided, further, that (i) any Lender which is a party to this Revolving Credit Agreement prior to such increase shall have the first option to increase its Commitment hereunder, but no Lender shall have any obligation to do so, (ii) in the event that it becomes necessary to include a new Lender to provide additional funding under this §2.3.1Section 2.03(a), such new Lender must be reasonably acceptable to the Administrative Agent and BGI, and (iii) the Lenders’ Commitment Percentages shall be correspondingly adjusted, as necessary, to reflect any increase in the Total Commitment and Schedule 1 shall be amended to reflect such adjustmentsadjustments and (iv) BGI may make a maximum of two such requests. Each increase in the Total Commitment shall be in a minimum aggregate amount of $10,000,000 or a whole multiple of $1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Barnes Group Inc)

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