Common use of Increase to Revolving Loan Commitment Clause in Contracts

Increase to Revolving Loan Commitment. Borrowers may request, one time prior to the Revolving Loan Maturity Date, the Revolving Loan Commitment be increased up to $5,000,000 and Lender shall make available such additional Revolving Loan Commitment to Borrowers provided the following conditions have been satisfied, in Lender’s sole discretion: (i) no Event of Default shall have occurred or be continuing or result from the increase of Revolving Loan Commitment; (ii) Borrowers shall have executed and delivered a new or revised Revolving Note; (iii) after giving effect to such increase, the amount of the Revolving Loan shall not be in excess of the Revolving Loan Commitment; (iv) Borrowers shall have the sole discretion of reviewing and accepting new collateral as to amount or type.