Common use of Increases Generally Clause in Contracts

Increases Generally. The Agent shall promptly inform the Lenders of any request for a Revolver Commitment Increase made by the Administrative Borrower. If the conditions set forth in clause (b) above are not satisfied on the applicable Increase Date (or, to the extent such conditions relate to an earlier date, such earlier date), the Agent shall notify the Administrative Borrower in writing that the requested Revolver Commitment Increase will not be effectuated. On each Increase Date, the Agent shall notify the Lenders and the Administrative Borrower, on or before 3:00 p.m. (Local Time), by telecopier or e-mail, of the occurrence of the Revolver Commitment Increase to be effected on such Increase Date, the amount of Revolver Loans held by each Lender as a result thereof, the amount of the Commitment of each Lender as a result thereof. At the time of any provision of any Revolver Commitment Increase pursuant to this Section 2.1.11, the Borrowers shall, in coordination with the Agent, repay outstanding Revolver Loans of certain of the Lenders, and incur additional Revolver Loans from certain other Lenders (including the Additional Revolver Lenders) (even though as a result thereof such new Loans (to the extent required to be maintained as Term SOFR Loans) may have a shorter Interest Period than the then outstanding Revolver Loans), in each case to the extent necessary so that all of the Revolver Lenders participate in each outstanding Revolver Loan Pro Rata on the basis of their respective Revolver Commitments (in each case after giving effect to any Revolver Commitment Increases pursuant to this Section 2.1.11) and with the Borrowers being obligated to pay to the respective Lenders any costs of the type referred to in Section 3.10 and such amounts, as reasonably determined by the respective Lenders, to compensate them for funding the various Revolver Loans during an existing Interest Period (rather than at the beginning of the respective Interest Period, based upon rates then applicable thereto) in connection with any such repayment and/or incurrence. All determinations by any Lender pursuant to the preceding sentence shall, absent manifest error, be final and conclusive and binding on all parties hereto.

Appears in 2 contracts

Samples: Abl Credit Agreement (Target Hospitality Corp.), Abl Credit Agreement (Target Hospitality Corp.)

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Increases Generally. The Agent shall promptly inform the Lenders of any request for a Revolver Commitment Increase made by the Administrative Borrower. If the conditions set forth in clause (bc) above are not satisfied on the applicable Increase Date (or, to the extent such conditions relate to an earlier date, such earlier date), the Agent shall notify the Administrative Borrower in writing that the requested Revolver Commitment Increase will not be effectuated. On each Increase Date, the Agent shall notify the Lenders and the Administrative Borrower, on or before 3:00 p.m. (Local Time), by telecopier or e-mail, of the occurrence of the Revolver Commitment Increase to be effected on such Increase Date, the amount of Revolver Loans of each Facility held by each Revolver Lender as a result thereof, the amount of the Revolver Commitment under each Facility of each Revolver Lender (and the percentage of each Revolver Loan, if any, that each Revolver Lender must purchase a participation interest in) as a result thereof. At the time of any provision of any Revolver Commitment Increase pursuant to this Section 2.1.112.1.9, the Borrowers Applicable Lenders shall, in coordination with the Agent, repay outstanding Revolver purchase and sell the applicable Loans of certain of and participations in the Lenders, and incur additional Revolver Loans from certain other Lenders (including the Additional Revolver Lenders) applicable Obligations in this Agreement (even though as a result thereof such new Revolver Loans (to the extent required to be maintained as Term SOFR LIBOR Loans or Canadian BA Rate Loans) may have a shorter Interest Period than the then outstanding Revolver Revolving Loans), in each case to the extent necessary so that (i) all of the Revolver Multicurrency Facility Lenders participate in each outstanding Revolver Loan Multicurrency Facility Obligations Pro Rata on the basis of their respective Revolver Multicurrency Facility Commitments and (ii) all of the US Facility Lenders participate in outstanding US Facility Obligations Pro Rata on the basis of their respective US Facility Commitments (in each case case, after giving effect to any Revolver Commitment Increases pursuant to this Section 2.1.11) and with the Borrowers being obligated to pay to the respective Lenders any costs of the type referred to in Section 3.10 and such amounts, as reasonably determined by the respective Lenders, to compensate them for funding the various Revolver Loans during an existing Interest Period (rather than at the beginning of the respective Interest Period, based upon rates then applicable thereto) in connection with any such repayment and/or incurrence2.1.9). All determinations by Agent and any Revolver Lender pursuant to the preceding sentence shall, absent manifest error, be final and conclusive and binding on all parties hereto.

Appears in 1 contract

Samples: Abl Credit Agreement (WillScot Mobile Mini Holdings Corp.)

Increases Generally. The Agent shall promptly inform the Lenders of any request for a Revolver Commitment Increase made by the Administrative Borrower. If the conditions set forth in clause (be) above are not satisfied on the applicable Increase Date (or, to the extent such conditions relate to an earlier date, such earlier date), the Agent shall notify the Administrative Borrower in writing that the requested Revolver Commitment Increase will not be effectuated. On each Increase Date, the Agent shall notify the Lenders and the Administrative Borrower, on or before 3:00 p.m. (Local Time), by telecopier or e-mail, of the occurrence of the Revolver Commitment Increase to be effected on such Increase Date, the amount of Revolver Loans held by each Lender as a result thereof, the amount of the Commitment of each Lender (and the percentage of each Revolver Loan, if any, that each Participant must purchase a participation interest in) as a result thereof. At the time of any provision of any Revolver Commitment Increase pursuant to this Section 2.1.11, the Borrowers shall, in coordination with the Agent, repay outstanding Revolver Revolving Loans of certain of the Lenders, and incur additional Revolver Revolving Loans from certain other Lenders (including the Additional Revolver Lenders) (even though as a result thereof such new Loans (to the extent required to be maintained as Term SOFR LIBOR Loans or Canadian BA Rate Loans) may have a shorter Interest Period than the then outstanding Revolver Revolving Loans), in each case to the extent necessary so that (i) all of the Canadian Revolver Lenders participate in each outstanding Canadian Revolver Loan Pro Rata on the basis of their respective Canadian Revolver Loan Commitments and (ii) all of the U.S. Revolver Lenders participate in each outstanding U.S. Revolver Loan Pro Rata on the basis of their respective U.S. Revolver Commitments (in each case after giving effect to any Revolver Commitment Increases pursuant to this Section 2.1.11) and with the applicable Borrowers being obligated to pay to the respective Lenders any costs of the type referred to in Section 3.10 and such amounts, as reasonably determined by the respective Lenders, to compensate them for funding the various Revolver Loans during an existing Interest Period (rather than at the beginning of the respective Interest Period, based upon rates then applicable thereto) in connection with any such repayment and/or incurrence. All determinations by any Lender pursuant to the preceding sentence shall, absent manifest error, be final and conclusive and binding on all parties hereto.

Appears in 1 contract

Samples: Abl Credit Agreement (WillScot Corp)

Increases Generally. The Agent shall promptly inform the Lenders of any request for a Revolver Commitment Increase made by the Administrative Borrower. If the conditions set forth in clause (bc) above are not satisfied on the applicable Increase Date (or, to the extent such conditions relate to an earlier date, such earlier date), the Agent shall notify the Administrative Borrower in writing that the requested Revolver Commitment Increase will not be effectuated. On each Increase Date, the Agent shall notify the Lenders and the Administrative Borrower, on or before 3:00 p.m. (Local Time), by telecopier or e-mail, of the occurrence of the Revolver Commitment Increase to be effected on such Increase Date, the amount of Revolver Loans of each Facility held by each Revolver Lender as a result thereof, the amount of the Revolver Commitment under each Facility of each Revolver Lender (and the percentage of each Revolver Loan, if any, that each Revolver Lender must purchase a participation interest in) as a result thereof. At the time of any provision of any Revolver Commitment Increase pursuant to this Section 2.1.112.1.9, the Borrowers Applicable Lenders shall, in coordination with the Agent, repay outstanding Revolver purchase and sell the applicable Loans of certain of and participations in the Lenders, and incur additional Revolver Loans from certain other Lenders (including the Additional Revolver Lenders) applicable Obligations in this Agreement (even though as a result thereof such new Revolver Loans (to the extent required to be maintained as Alternative Currency Term Rate Loans, Term SOFR LoansLoans or Term XXXXX Rate Loans (from and after the Term XXXXX Activation Date)) may have a shorter Interest Period than the then outstanding Revolver Revolving Loans), in each case to the extent necessary so that (i) all of the Revolver Multicurrency Facility Lenders participate in each outstanding Revolver Loan Multicurrency Facility Obligations Pro Rata on the basis of their respective Revolver Multicurrency Facility Commitments and (ii) all of the US Facility Lenders participate in outstanding US Facility Obligations Pro Rata on the basis of their respective US Facility Commitments (in each case case, after giving effect to any Revolver Commitment Increases pursuant to this Section 2.1.11) and with the Borrowers being obligated to pay to the respective Lenders any costs of the type referred to in Section 3.10 and such amounts, as reasonably determined by the respective Lenders, to compensate them for funding the various Revolver Loans during an existing Interest Period (rather than at the beginning of the respective Interest Period, based upon rates then applicable thereto) in connection with any such repayment and/or incurrence2.1.9). All determinations by Agent and any Revolver Lender pursuant to the preceding sentence shall, absent manifest error, be final and conclusive and binding on all parties hereto.

Appears in 1 contract

Samples: Abl Credit Agreement (WillScot Mobile Mini Holdings Corp.)

Increases Generally. The Agent shall promptly inform the Lenders of any request for a Revolver Commitment Increase made by the Administrative Borrower. If the conditions set forth in clause (bc) above are not satisfied on the applicable Increase Date (or, to the extent such conditions relate to an earlier date, such earlier date), the Agent shall notify the Administrative Borrower in writing that the requested Revolver Commitment Increase will not be effectuated. On each Increase Date, the Agent shall notify the Lenders and the Administrative Borrower, on or before 3:00 p.m. (Local Time), by telecopier or e-mail, of the occurrence of the Revolver Commitment Increase to be effected on such Increase Date, the amount of Revolver Loans of each Facility held by each Revolver Lender as a result thereof, the amount of the Revolver Commitment under each Facility of each Revolver Lender (and the percentage of each Revolver Loan, if any, that each Revolver Lender must purchase a participation interest in) as a result thereof. At the time of any provision of any Revolver Commitment Increase pursuant to this Section 2.1.112.1.9, the Borrowers Applicable Lenders shall, in coordination with the Agent, repay outstanding Revolver purchase and sell the applicable Loans of certain of and participations in the Lenders, and incur additional Revolver Loans from certain other Lenders (including the Additional Revolver Lenders) applicable Obligations in this Agreement (even though as a result thereof such new Revolver Loans (to the extent required to be maintained as Alternative Currency Term Rate Loans, Term SOFR LoansLoans or Term XXXXX Rate Loans (from and after the Term XXXXX Activation Date)) may have a shorter Interest Period than the then outstanding Revolver Revolving Loans), in each case to the extent necessary so that (i) all of the Revolver Multicurrency Facility Lenders participate in each outstanding Revolver Loan Multicurrency Facility Obligations Pro Rata on the basis of their respective Revolver Multicurrency Facility Commitments and (ii) all of the US Facility Lenders participate in outstanding US Facility Obligations Pro Rata on the basis of their respective US Facility Commitments (in each case case, after giving effect to any Revolver Commitment Increases pursuant to this Section 2.1.11) and with the Borrowers being obligated to pay to the respective Lenders any costs of the type referred to in Section 3.10 and such amounts, as reasonably determined by the respective Lenders, to compensate them for funding the various Revolver Loans during an existing Interest Period (rather than at the beginning of the respective Interest Period, based upon rates then applicable thereto) in connection with any such repayment and/or incurrence2.1.9). All determinations by Agent and any Revolver Lender pursuant to the preceding sentence shall, absent manifest error, be final and conclusive and binding on all parties hereto. (e) In the event the Borrowers from time to time obtain any Revolver Commitment Increase under this Section 2.1.9, all availability levels hereunder denominated in Dollars, Canadian Dollars, Euros or Pounds Sterling hereunder (including, without limitation, in the definition of “Payment Conditions”) shall be increased in proportion to the ratio of such Revolver Commitment Increase to the aggregate Revolver Commitments and the Revolver Commitments of each Facility, as applicable, as in effect immediately prior to the Borrowers obtaining such Revolver Commitment Increase and, for the avoidance of doubt, all such levels denominated in percentages shall be calculated based on the Revolver Commitments after giving effect to such Revolver Commitment Increase. (f) In the case of a material increase in the Multicurrency Facility Commitments under the Multicurrency Facility, to the extent reasonably requested by the Agent, the following documents shall be executed in form reasonably satisfactory to Agent: (i) an English law governed supplemental debenture in relation to the English law debenture, dated as of July 1 2020, entered into by and among certain UK Loan Parties and Agent; and (ii) an English law governed supplemental share charge in relation to the English law share charge, dated as of July 1, 2020, entered into by and among certain Loan Parties and Agent.

Appears in 1 contract

Samples: Abl Credit Agreement (WillScot Mobile Mini Holdings Corp.)

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Increases Generally. The Agent shall promptly inform the Lenders of any request for a Revolver Commitment Increase made by the Administrative Borrower. If the conditions set forth in clause (b) above are not satisfied on the applicable Increase Date (or, to the extent such conditions relate to an earlier date, such earlier date), the Agent shall notify the Administrative Borrower in writing that the requested Revolver Commitment Increase will not be effectuated. On each Increase Date, the Agent shall notify the Lenders and the Administrative Borrower, on or before 3:00 p.m. (Local Time), by telecopier or e-mail, of the occurrence of the Revolver Commitment Increase to be effected on such Increase Date, the amount of Revolver Loans held by each Lender as a result thereof, the amount of the Commitment of each Lender as a result thereof. At the time of any provision of any Revolver Commitment Increase pursuant to this Section 2.1.11, the Borrowers shall, in coordination with the Agent, repay outstanding Revolver Loans of certain of the Lenders, and incur additional Revolver Loans from certain other Lenders (including the Additional Revolver Lenders) (even though as a result thereof such new Loans (to the extent required to be maintained as Term SOFR LIBOR Loans) may have a shorter Interest Period than the then outstanding Revolver Loans), in each case to the extent necessary so that all of the Revolver Lenders participate in each outstanding Revolver Loan Pro Rata on the basis of their respective Revolver Commitments (in each case after giving effect to any Revolver Commitment Increases pursuant to this Section 2.1.11) and with the Borrowers being obligated to pay to the respective Lenders any costs of the type referred to in Section 3.10 and such amounts, as reasonably determined by the respective Lenders, to compensate them for funding the various Revolver Loans during an existing Interest Period (rather than at the beginning of the respective Interest Period, based upon rates then applicable thereto) in connection with any such repayment and/or incurrence. All determinations by any Lender pursuant to the preceding sentence shall, absent manifest error, be final and conclusive and binding on all parties hereto.

Appears in 1 contract

Samples: Abl Credit Agreement (Target Hospitality Corp.)

Increases Generally. The Agent shall promptly inform the Lenders of any request for a Revolver Commitment Increase made by the Administrative Borrower. If the conditions set forth in clause (bc) above are not satisfied on the applicable Increase Date (or, to the extent such conditions relate to an earlier date, such earlier date), the Agent shall notify the Administrative Borrower in writing that the requested Revolver Commitment Increase will not be effectuated. On each Increase Date, the Agent shall notify the Lenders and the Administrative Borrower, on or before 3:00 p.m. (Local Time), by telecopier or e-mail, of the occurrence of the Revolver Commitment Increase to be effected on such Increase Date, the amount of Revolver Loans of each Facility held by each Revolver Lender as a result thereof, the amount of the Revolver Commitment under each Facility of each Revolver Lender (and the percentage of each Revolver Loan, if any, that each Revolver Lender must purchase a participation interest in) as a result thereof. At the time of any provision of any Revolver Commitment Increase pursuant to this Section 2.1.112.1.9, the Borrowers Applicable Lenders shall, in coordination with the Agent, repay outstanding Revolver purchase and sell the applicable Loans of certain of and participations in the Lenders, and incur additional Revolver Loans from certain other Lenders (including the Additional Revolver Lenders) applicable Obligations in this Agreement (even though as a result thereof such new Revolver Loans (to the extent required to be maintained as Alternative Currency Term Rate Loans, Term SOFR Loans or Canadian BA Rate Loans) may have a shorter Interest Period than the then outstanding Revolver Revolving Loans), in each case to the extent necessary so that (i) all of the Revolver Multicurrency Facility Lenders participate in each outstanding Revolver Loan Multicurrency Facility Obligations Pro Rata on the basis of their respective Revolver Multicurrency Facility Commitments and (ii) all of the US Facility Lenders participate in outstanding US Facility Obligations Pro Rata on the basis of their respective US Facility Commitments (in each case case, after giving effect to any Revolver Commitment Increases pursuant to this Section 2.1.11) and with the Borrowers being obligated to pay to the respective Lenders any costs of the type referred to in Section 3.10 and such amounts, as reasonably determined by the respective Lenders, to compensate them for funding the various Revolver Loans during an existing Interest Period (rather than at the beginning of the respective Interest Period, based upon rates then applicable thereto) in connection with any such repayment and/or incurrence2.1.9). All determinations by Agent and any Revolver Lender pursuant to the preceding sentence shall, absent manifest error, be final and conclusive and binding on all parties hereto.

Appears in 1 contract

Samples: Abl Credit Agreement (WillScot Mobile Mini Holdings Corp.)

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