Increase to Commitments Sample Clauses

Increase to Commitments. The Borrower may, on up to two occasions, increase the Commitments hereunder, by giving notice to the Agent, specifying the dollar amount of the increase (which shall be in a minimum amount of $10,000,000 plus integral multiples of $5,000,000, and which shall not result in total aggregate Commitments hereunder in excess of $250,000,000); provided, however, that an increase in the Commitments hereunder may only be made at a time when no Default or Event of Default shall have occurred and be continuing. The Borrower may increase the Commitments by either increasing a Commitment with an existing Bank or obtaining a Commitment from a new financial institution, the selection of which shall require the consent of the Agent, not to be unreasonably withheld or delayed. The Borrower, the Agent and each Bank or other financial institution that is increasing its Commitment or extending a new Commitment shall enter into an amendment to this Agreement setting forth the amounts of the Commitments, as so increased, providing that any new financial institution extending a new Commitment shall be a Bank for all purposes under this Agreement and effecting such other changes as the Borrower and the Agent shall deem necessary or advisable in connection with such increase of the Commitments hereunder. No such amendment shall require the approval or consent of any Bank whose Commitment is not being increased and no Bank shall be required to increase its Commitment unless it shall so agree in writing. Upon the execution and delivery of such amendment as provided above, this Agreement shall be deemed to be amended accordingly and the Agent shall adjust the funded amount of the Advances of the Banks so that each Bank (including the Banks with new or increased Commitments) shall hold their respective Percentages (as amended by such amendment) of the Advances outstanding and the unfunded Commitments (and each Bank shall so fund any increased amount of Advances).
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Increase to Commitments. (a) In the event that Borrower wishes to increase the total Commitments at any time after the Closing Date and prior to the Final Maturity Date when no Default or Event of Default has occurred and is continuing (or would result from such increase) it shall notify Administrative Agent in writing the amount (the “Credit Commitment Offered Increase Amount”) of such proposed increase (such notice a “Credit Commitment Increase Notice”) in a minimum amount equal to $10,000,000. Borrower may request, with the consent of the Administrative Agent and, if such proposed increase is to the Revolving Credit Commitments, the Swing Line Lender, but without the consent of any Lender whose commitment is not being increased, increases to the Commitments on only four (4) occasions and such increases may only be made up to a cumulative aggregate principal amount of $200,000,000. Such increases to the total Commitments can be in the form of additional Revolving Credit Commitments or new Incremental Term Loan Commitments and shall be set forth in separate definitive documentation to be mutually agreed between the Administrative Agent, Borrower and the Lenders providing such additional Revolving Credit Commitments or Incremental Term Loan Commitments, as applicable. The Credit Commitment Increase Notice shall specify the proposed Credit Commitment Offered Increase Amount, whether the proposed increase is for additional Revolving Credit Commitments or Incremental Term Loan Commitments and, with respect to additional Revolving Credit Commitments, the proposed effective date of such additional Revolving Credit Commitments or, with respect to Incremental Term Loan Commitments, the proposed issue date for such additional Term Loans pursuant to such Incremental Term Loan Commitments (each such date, the “Credit Commitment Increase Effective Date”), and shall be accompanied by a certificate executed by one or more duly authorized officers of Borrower stating that (i) no Default or Event of Default has occurred and is continuing prior to, or immediately after giving effect to, such increase and (ii) Borrower is in pro forma compliance with the financial covenants contained in Section 7.16 after giving effect to the incurrence of any such increase (and assuming that the commitments under such increase are fully drawn) and any Permitted Acquisition, refinancing of debt or other event giving rise to a pro forma adjustment in connection with such increase. The Credit Commitment Offered Incr...
Sample 1
Increase to Commitments. (a) The Individual Commitment Amount of each of the Lenders shall be revised as set forth in Exhibit "A" attached hereto and Schedule B of the Credit Agreement is amended accordingly. (b) The Aggregate Commitment Amount is increased to $1,000,000,000. (c) Concurrent with the increase of an existing Individual Commitment Amount from an existing Lender or the addition of a new Individual Commitment Amount from a new Lender, such existing or new Lender, as the case may be, shall purchase from each other Lender such portion of the Obligations owing to such other Lender as is requested by the Agent (in accordance with its customary practices) to ensure that the Obligations owing to such Lender will be equal to such Lender's Rateable Portion (as determined after giving effect to the revised Individual Commitment Amounts set forth in Exhibit "A" attached hereto); provided that any such purchase of Obligations which is outstanding by way of Bankers' Acceptances or LIBOR Based Loans shall only occur on the Maturity Date(s) thereof.
Sample 1
Increase to Commitments. If Company requests Lenders to increase their Commitments to an amount that does not exceed the aggregate amount of $75,000,000 and Lenders agree to do so in the exercise of their discretion, then the amount of such increase, if any, will be confirmed to Company in writing as an additional Commitment Increment hereunder. As part of making any such request, Company will (a) certify to the Lender Parties that no Default or Event of Default then exists, and (b) deliver to the Lender Parties such information concerning their business, assets, operations, properties or prospects as Administrative Agent or any Lender may request. It is expressly understood and agreed that Lenders have no obligation to increase their Commitments and that any such determination will be made in the exercise of their discretion.
Sample 1
Increase to Commitments 
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Related to Increase to Commitments

  • Increase of Commitment Increase the amount of the Revolving Credit Commitment of any Lender hereunder without the consent of such Lender;

  • Increase in Commitments (a) The Borrower may by written notice to the Administrative Agent elect to seek commitments (“Additional Commitments”) to increase the Commitments; provided that: (i) the aggregate amount of all Additional Commitments shall not exceed $200,000,000; (ii) any such increase shall be in an aggregate amount of $10,000,000 or any whole multiple of $500,000 in excess thereof; provided that such amount may be less than $10,000,000 if such amount represents all remaining availability under the limit set forth in the preceding clause (i); (iii) the Additional Commitments shall be on the same terms as the Commitments then outstanding with the latest Maturity Date immediately prior to the Additional Commitments Effective Date; provided that (x) the Additional Commitments may have a higher Applicable Rate than the outstanding Commitments with the latest Maturity Date immediately prior to the Additional Commitments Effective Date if the Applicable Rate for the outstanding Commitments with the latest Maturity Date are automatically increased such that it is equal to the Applicable Rate for the Additional Commitments and (y) the Borrower may pay upfront fees on the Additional Commitments Effective Date to any Lender providing Additional Commitments (in such capacity, an “Additional Commitment Lender”); and (iv) no existing Lender shall be required to provide any Additional Commitments. (b) Each such notice shall specify (x) the date (each, an “Additional Commitments Effective Date”) on which the Borrower proposes that the Additional Commitments shall be effective, which shall be a date reasonably acceptable to the Administrative Agent and (y) the identity of the Persons (each of which shall be an Eligible Assignee (for this purpose treating a Lender of Additional Commitments as if it were an assignee)) whom the Borrower proposes would provide the Additional Commitments and the portion of the Additional Commitment to be provided by each such Person. As a condition precedent to the effectiveness of any Additional Commitments, the Borrower shall deliver to the Administrative Agent a certificate dated as of the Additional Commitments Effective Date signed by a Responsible Officer of the Borrower certifying that the conditions in Section 4.02(a) and (b) are satisfied. The Borrower shall prepay any Loans outstanding on the Additional Commitments Effective Date with respect to any Additional Commitment (and pay any additional amounts required pursuant to Section 3.05) to the extent necessary to keep the outstanding Loans ratable with any revised Applicable Percentages arising from any nonratable increase in the Commitments. If there is a new Borrowing of Commitments on such Additional Commitments Effective Date, the Lenders after giving effect to such Additional Commitments shall make such Loans in accordance with Section 2.01. (c) The Additional Commitments shall be documented by an Additional Credit Extension Amendment executed by each Additional Commitment Lender providing the Additional Commitments (and the other Persons specified in the definition of Additional Credit Extension Amendment but no other existing Lender), and the Additional Credit Extension Amendment may provide for such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Administrative Agent and the Borrower, to effect the provisions of this Section 2.14. (d) This Section 2.14 shall supersede any provisions in Section 2.13 or Section 10.01 to the contrary.

  • Increase in Revolving Credit Commitments (i) Provided there exists no Default or Event of Default and subject to the conditions set forth under clause (v) below, upon notice to the Administrative Agent (which shall promptly notify the Lenders), Borrower may from time to time request an increase in the Revolving Credit Commitments; provided, that (A) the Aggregate Revolving Credit Commitments shall not at any time exceed the lesser of (1) the Aggregate Maximum Revolving Credit Amounts after adjustments resulting from reductions thereof pursuant to Section 2.03(d) and (2) the then effective Borrowing Base, and (B) such increase of the Revolving Credit Commitments shall be in a minimum amount of $5,000,000, or integral multiples of $1,000,000 in excess thereof. At the time of sending such notice, Borrower (in consultation with the Administrative Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten (10) Business Days from the date of delivery of such notice to the Lenders). (ii) Each Lender shall notify the Administrative Agent within such time period whether or not it agrees to increase its Revolving Credit Commitment and, if so, whether by an amount equal to, greater than, or less than its Percentage Share of such requested increase. Any Lender not responding within such time period shall be deemed to have declined to increase its Revolving Credit Commitment. (iii) The Administrative Agent shall notify Borrower of the Lenders’ responses to the request made hereunder. To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent and the Issuing Bank (which approvals shall not be unreasonably withheld), Borrower may also invite additional Persons to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel. (iv) If the Aggregate Revolving Credit Commitments are increased in accordance with this Section, the Administrative Agent and Borrower shall determine the effective date (such date, the “Increase Effective Date”) and the final allocation of such increase. The Administrative Agent shall promptly (i) notify Borrower of the final allocation of such increase in the Revolving Credit Commitment and the Increase Effective Date, and (ii) notify each Lender of its Revolving Credit Commitment as of the Increase Effective Date. (v) As a condition precedent to such increase, Borrower shall deliver to the Administrative Agent a certificate of each Obligor dated as of the Increase Effective Date signed by a Responsible Officer of such Obligor (i) certifying and attaching the resolutions adopted by such Obligor approving or consenting to such increase, and (ii) in the case of Borrower, certifying that, before and after giving effect to such increase, (A) the representations and warranties contained in Article VII and the other Loan Documents are true and correct on and as of the Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Section 2.03(b), the representations and warranties contained in Section 7.02 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 8.01, (B) no Default or Event of Default exists, and (C) no Material Adverse Effect shall have occurred. To the extent necessary to keep the outstanding Loans ratable with any revised Percentage Shares of the Lenders arising from any nonratable increase in the Revolving Credit Commitment under this Section, Borrower shall prepay Loans outstanding on the Increase Effective Date and/or Lenders shall make assignments pursuant to arrangements satisfactory to the Administrative Agent (provided, that in each case, Borrower shall pay any additional amounts required pursuant to Section 5.05). (vi) This Section shall supersede any provisions in Sections 4.05 or 12.04 to the contrary.

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