Common use of Increases in Revolving Credit Commitments Clause in Contracts

Increases in Revolving Credit Commitments. (a) At any time after the Closing Date and prior to the date that is twelve months prior to the Revolving Credit Termination Date, so long as no Default or Event of Default has occurred and is continuing, the Borrower may, by notice to the Administrative Agent (a “Revolving Commitment Increase Notice”), which notice shall promptly be copied by the Administrative Agent to each Lender, request an increase in the Total Revolving Credit Commitments in an aggregate principal amount up to $50,000,000 (the “Revolving Offered Increase Amount”), provided that, (x) each such Revolving Offered Increase Amount shall be in a minimum amount of not less than $15,000,000 and (y) at no time shall the Total Revolving Credit Commitments exceed $250,000,000. The Borrower may, at its election, (i) offer one or more of the Revolving Credit Lenders the opportunity to provide all or a portion of any Revolving Offered Increase Amount pursuant to subparagraph (c) below and/or (ii) with the consent of the Swing Line Lender and the Administrative Agent (which consent shall not be unreasonably withheld), offer one or more additional banks, financial institutions or other entities the opportunity to provide all or a portion of such Revolving Offered Increase Amount pursuant to Section 2.22(b) below. Each Revolving Commitment Increase Notice shall specify which Revolving Credit Lenders and/or banks, financial institutions or other entities the Borrower desires to provide such Revolving Offered Increase Amount. The Borrower or, if requested by the Borrower, the Administrative Agent will notify such Revolving Credit Lenders, and/or banks, financial institutions or other entities.

Appears in 2 contracts

Samples: Credit Agreement (Hudson Pacific Properties, Inc.), Credit Agreement (Hudson Pacific Properties, Inc.)

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Increases in Revolving Credit Commitments. (a) At any time and from time to time after the Closing Second Restatement Effective Date and prior to the date that is twelve months prior to the New Revolving Credit Termination Date, so long as no Default or Event of Default has occurred and is continuing, the Borrower Borrowers may, by written notice to the Administrative Agent (a “Revolving Commitment Increase Notice”), which notice shall promptly be copied by the Administrative Agent to each Lender, request an increase in the Total Revolving Credit Commitments in an aggregate principal amount up to the sum of (x) $50,000,000 60,000,000, plus (y) the R-1 Revolving Credit Commitment then in effect (after taking into account the proviso contained in the third to last sentence of the definition of “Revolving Credit Commitment”) or, in the event the Original Revolving Credit Termination Date shall have occurred, the R-1 Revolving Credit Commitment in effect immediately prior to the Original Revolving Credit Termination Date (after taking into account the proviso contained in the third to last sentence of the definition of “Revolving Credit Commitment”), (the “Revolving Offered Increase Amount”); provided, provided thatthat in no event shall the Total Revolving Credit Commitments be increased to an amount in excess of $180,000,000, (x) and provided, further, that each such Revolving Offered Increase Amount shall be in a minimum amount amounts of not less than $15,000,000 and (y) at no time shall the Total Revolving Credit Commitments exceed $250,000,0005,000,000. The Borrower Borrowers may, at its their election, (i) offer one or more of the Revolving Credit Lenders the opportunity to provide all or a portion of any Revolving Offered Increase Amount pursuant to subparagraph (c) below and/or (ii) with the consent of the Swing Line Lender, each Issuing Lender and the Administrative Agent (which consent shall not be unreasonably withheld), and with the assistance of the Administrative Agent, offer one or more additional banks, financial institutions or other entities the opportunity to provide all or a portion of such Revolving Offered Increase Amount pursuant to Section 2.22(bsubparagraph (b) below. Each Revolving Commitment Increase Notice shall specify which Revolving Credit Lenders and/or banks, financial institutions or other entities the Borrower desires Borrowers desire to provide such Revolving Offered Increase Amount. The Borrower Borrowers or, if requested by the BorrowerBorrowers, the Administrative Agent will notify such Revolving Credit Lenders, and/or banks, financial institutions or other entities.

Appears in 1 contract

Samples: Credit Agreement (Delek US Holdings, Inc.)

Increases in Revolving Credit Commitments. (a) At any time after the Closing Effective Date and prior to the date that is twelve months prior to the Revolving Credit Termination Date, so long as no Default or Event of Default has occurred and is continuingcontinuing and no Cure Period is in effect, the Borrower may, by notice to the Administrative Agent (a “Revolving Commitment Increase Notice”), which notice shall promptly be copied by the Administrative Agent to each Lender, request an increase in the Total Revolving Credit Commitments in an aggregate principal amount up to $50,000,000 250,000,000 (the “Revolving Offered Increase Amount”), provided that, (x) that each such Revolving Offered Increase Amount shall be in a minimum amount of not less than $15,000,000 and (y) at no time shall the Total Revolving Credit Commitments exceed $250,000,00050,000,000. The Borrower may, at its election, (i) offer one or more of the Revolving Credit Lenders the opportunity to provide all or a portion of any Revolving Offered Increase Amount pursuant to subparagraph (c) below and/or (ii) with the consent of the Swing Line Lender, each Issuing Lender and the Administrative Agent (which consent shall not be unreasonably withheld), offer one or more additional banks, financial institutions or other entities the opportunity to provide all or a portion of such Revolving Offered Increase Amount pursuant to Section 2.22(bsubparagraph (b) below. Each Revolving Commitment Increase Notice shall specify which Revolving Credit Lenders and/or banks, financial institutions or other entities the Borrower desires to provide such Revolving Offered Increase Amount. The Borrower or, if requested by the Borrower, the Administrative Agent will notify such Revolving Credit Lenders, and/or banks, financial institutions or other entities.

Appears in 1 contract

Samples: Credit Agreement (Archstone Smith Operating Trust)

Increases in Revolving Credit Commitments. (a) At any time after the Closing Effective Date and prior to the date that is twelve months prior to the Revolving Credit Termination Date, so long as no Default or Event of Default has occurred and is continuing, the Borrower may, by notice to the Administrative Agent (a “Revolving Commitment Increase Notice”), which notice shall promptly be copied by the Administrative Agent to each Lender, request an increase in the Total Revolving Credit Commitments in an aggregate principal amount up to $50,000,000 20,000,000 (the “Revolving Offered Increase Amount”), ; provided that, (x) each such Revolving Offered Increase Amount shall be in a minimum amount of not less than $15,000,000 10,000,000 and (y) at no time shall the Total Revolving Credit Commitments exceed $250,000,000115,000,000. The Borrower may, at its election, shall (i) first, offer one or more each of the Revolving Credit Lenders the opportunity to provide a pro rata portion of any Revolving Offered Increase Amount pursuant to Section 2.23(c) below, (ii) second, offer each of the Revolving Credit Leaders the opportunity to provide all or a portion of any Revolving Offered Increase Amount not otherwise accepted by the other Revolving Credit Lenders (pursuant to subparagraph (ci) above) pursuant to Section 2.23(c) below and/or and (iiiii) third, with the consent of the Swing Line Lender and the Administrative Agent (which consent shall not be unreasonably withheld), offer one or more additional banks, financial institutions or other entities the opportunity to provide all or a portion of such Revolving Offered Increase Amount not accepted by the Revolving Credit Lenders pursuant to Section 2.22(b2.23(b) below. Each Revolving Commitment Increase Notice shall specify which Revolving Credit Lenders and/or banks, financial institutions or other entities the Borrower desires to provide such Revolving Offered Increase AmountAmount not accepted by the Revolving Credit Lenders. The Borrower or, if requested by the Borrower, the Administrative Agent Agent, will notify such the Revolving Credit Lenders, and/or and, if the Revolving Credit Lenders do not accept the entire Revolving Offered Increase Amount, such banks, financial institutions or other entities.

Appears in 1 contract

Samples: Credit Agreement (Chatham Lodging Trust)

Increases in Revolving Credit Commitments. (a) At any time after the Closing Date and prior to the date that is twelve months prior to the Revolving Credit Termination Date, so long as no Default or Event of Default has occurred and is continuing, the Borrower may, by notice to the Administrative Agent (a “Revolving Commitment Increase Notice”), which notice shall promptly be copied by the Administrative Agent to each Lender, request an increase in the Total Revolving Credit Commitments in an aggregate principal amount up to $50,000,000 25,000,000 (the “Revolving Offered Increase Amount”), ; provided that, (x) each such Revolving Offered Increase Amount shall be in a minimum amount of not less than $15,000,000 10,000,000 and (y) at no time shall the Total Revolving Credit Commitments exceed $250,000,000110,000,000. The Borrower may, at its election, shall (i) first, offer one or more each of the Revolving Credit Lenders the opportunity to provide a pro rata portion of any Revolving Offered Increase Amount pursuant to Section 2.22(c) below, (ii) second, offer each of the Revolving Credit Leaders the opportunity to provide all or a portion of any Revolving Offered Increase Amount not otherwise accepted by the other Revolving Credit Lenders (pursuant to subparagraph (ci) above) pursuant to Section 2.22(c) below and/or and (iiiii) third, with the consent of the Swing Line Lender and the Administrative Agent (which consent shall not be unreasonably withheld), offer one or more additional banks, financial institutions or other entities the opportunity to provide all or a portion of such Revolving Offered Increase Amount not accepted by the Revolving Credit Lenders pursuant to Section 2.22(b) below. Each Revolving Commitment Increase Notice shall specify which Revolving Credit Lenders and/or banks, financial institutions or other entities the Borrower desires to provide such Revolving Offered Increase AmountAmount not accepted by the Revolving Credit Lenders. The Borrower or, if requested by the Borrower, the Administrative Agent Agent, will notify such the Revolving Credit Lenders, and/or and, if the Revolving Credit Lenders do not accept the entire Revolving Offered Increase Amount, such banks, financial institutions or other entities.

Appears in 1 contract

Samples: Credit Agreement (Chatham Lodging Trust)

Increases in Revolving Credit Commitments. (a) At any time and from time to time after the Closing First Amendment Effective Date and prior to the date that is twelve months prior to the Revolving Credit Termination Date, so long as no Default or Event of Default has occurred and is continuing, the Borrower Borrowers may, by written notice to the Administrative Agent (a “Revolving Commitment Increase Notice”), which notice shall promptly be copied by the Administrative Agent to each Lender, request an increase in the Total Revolving Credit Commitments in an aggregate principal amount up to $50,000,000 75,000,000 (the “Revolving Offered Increase Amount”); provided, provided thatthat in no event shall the Total Revolving Credit Commitments be increased to an amount in excess of $275,000,000, (x) and provided, further, that each such Revolving Offered Increase Amount shall be in a minimum amount amounts of not less than $15,000,000 25,000,000 and multiples of $5,000,000 in excess thereof (y) at no time shall or such lesser amount constituting the Total entire remaining Revolving Credit Commitments exceed $250,000,000Offered Increase Amount). The Borrower may, at its election, (i) Borrowers shall first offer one or more of the all Revolving Credit Lenders the opportunity to provide all or a portion of any Revolving Offered Increase Amount pursuant to subparagraph (c) below and/or below, but each such Lender shall have no obligation whatsoever to provide all or any portion of the Revolving Offered Increase Amount. Each of the then existing Revolving Credit Lenders shall have ten (ii10) Business Days following receipt of a Revolving Commitment Increase Notice from the Borrowers to notify the Borrowers of such Lender’s commitment to provide a portion of the Revolving Offered Increase Amount. In the event that the Borrowers have not received commitments from the existing Revolving Credit Lenders in an amount equal to the requested Revolving Offered Increase Amount within such ten (10) Business Day period, then the Borrowers may, with the consent of the Swing Line Lender, each Issuing Lender and the Administrative Agent (which consent shall not be unreasonably withheld), offer one or more additional invite other banks, financial institutions or other entities the opportunity to provide all or a portion of such Revolving Offered Increase Amount pursuant to Section 2.22(bsubparagraph (b) below. Each Revolving Commitment Increase Notice shall specify which Revolving Credit Lenders and/or banks, financial institutions or other entities below with respect to the Borrower desires to provide portion of such Revolving Offered Increase AmountAmount for which commitments from existing Revolving Credit Lenders shall have not been obtained within such ten (10) Business Day period by existing Revolving Credit Lenders. The Borrower Borrowers or, if requested by the BorrowerBorrowers, the Administrative Agent will notify each Revolving Credit Lender, and/or bank, financial institution or other entity of the amount of the Revolving Offered Increase Amount that shall be allocated to such Revolving Credit Lenders, and/or banksLender or such other bank, financial institutions institution or other entitiesentity in accordance with the forgoing.

Appears in 1 contract

Samples: Credit Agreement (Delek US Holdings, Inc.)

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Increases in Revolving Credit Commitments. (a) ). At any time and from time to time after the Closing Third Restatement Effective Date and prior to the date that is twelve months prior to the Revolving Credit Termination Date, so long as no Default or Event of Default has occurred and is continuing, the Borrower Borrowers may, by written notice to the Administrative Agent (a “Revolving Commitment Increase Notice”), which notice shall promptly be copied by the Administrative Agent to each Lender, request an increase in the Total Revolving Credit Commitments in an aggregate principal amount up to $50,000,000 (the “Revolving Offered Increase Amount”); provided, provided thatthat in no event shall the Total Revolving Credit Commitments be increased to an amount in excess of $210,000,000, (x) and provided, further, that each such Revolving Offered Increase Amount shall be in a minimum amount amounts of not less than $15,000,000 20,000,000 and multiples of $5,000,000 in excess thereof (y) at no time shall or such lesser amount constituting the Total entire remaining Revolving Credit Commitments exceed $250,000,000Offered Increase Amount). The Borrower may, at its election, (i) Borrowers may first offer one or more of the all Revolving Credit Lenders the opportunity to provide all or a portion of any Revolving Offered Increase Amount pursuant to subparagraph (c) below and/or below, but each such Lender shall have no obligation whatsoever to provide all or any portion of the Revolving Offered Increase Amount. Each of the then existing Revolving Credit Lenders shall have ten (ii10) Business Days following receipt of a Revolving Commitment Increase Notice from the Borrowers to notify the Borrowers of such Lender’s commitment to provide a portion of the Revolving Offered Increase Amount. In the event that the Borrowers have not received commitments from the existing Revolving Credit Lenders in an amount equal to the requested Revolving Offered Increase Amount within such ten (10) Business Day period or if the Borrowers have elected not to offer such Revolving Credit Increase Amount to the Revolving Credit Lenders, then the Borrowers may, with the consent of the Swing Line Lender, each Issuing Lender and the Administrative Agent (which consent shall not be unreasonably withheld), offer one or more additional invite other banks, financial institutions or other entities the opportunity to provide all or a portion of such Revolving Offered Increase Amount pursuant to Section 2.22(bsubparagraph (b) below. Each Revolving Commitment Increase Notice shall specify which Revolving Credit Lenders and/or banks, financial institutions or other entities below with respect to the Borrower desires to provide portion of such Revolving Offered Increase Amount for which commitments from existing Revolving Credit Lenders shall have not been obtained within such ten (10) Business Day period by existing Revolving Credit Lenders (or for the entire amount of the Revolving Offered Increase Amount, in the event the Borrowers have not offered such Revolving Offered Increase Amount to the Revolving Credit Lenders). The Borrower Borrowers or, if requested by the BorrowerBorrowers, the Administrative Agent will notify each Revolving Credit Lender, and/or bank, financial institution or other entity of the amount of the Revolving Offered Increase Amount that shall be allocated to such Revolving Credit Lenders, and/or banksLender or such other bank, financial institutions institution or other entitiesentity in accordance with the forgoing.

Appears in 1 contract

Samples: Credit Agreement (Delek US Holdings, Inc.)

Increases in Revolving Credit Commitments. (a) At any time after the Closing Effective Date and prior to the date that is twelve months prior to the Revolving Credit Termination Date, so long as no Default or Event of Default has occurred and is continuing, the Borrower may, by notice to the Administrative Agent (a “Revolving Commitment Increase Notice”), which notice shall promptly be copied by the Administrative Agent to each Lender, request an increase in the Total Revolving Credit Commitments in an aggregate principal amount up to $50,000,000 150,000,000 (the “Revolving Offered Increase Amount”), ; provided that, (x) each such Revolving Offered Increase Amount shall be in a minimum amount of not less than $15,000,000 25,000,000 and (y) at no time shall the Total Revolving Credit Commitments exceed $250,000,000400,000,000. The Borrower may, at its election, shall (i) first, offer one or more each of the Revolving Credit Lenders the opportunity to provide a pro rata portion of any Revolving Offered Increase Amount pursuant to Section 2.23(c) below, (ii) second, offer each of the Revolving Credit Leaders the opportunity to provide all or a portion of any Revolving Offered Increase Amount not otherwise accepted by the other Revolving Credit Lenders (pursuant to subparagraph (ci) above) pursuant to Section 2.23(c) below and/or and (iiiii) third, with the consent of the each Issuing Lender, each Swing Line Lender and the Administrative Agent (which consent shall not be unreasonably withheld), offer one or more additional banks, financial institutions or other entities the opportunity to provide all or a portion of such Revolving Offered Increase Amount not accepted by the Revolving Credit Lenders pursuant to Section 2.22(b2.23(b) below. Each Revolving Commitment Increase Notice shall specify which Revolving Credit Lenders and/or banks, financial institutions or other entities the Borrower desires to provide such Revolving Offered Increase AmountAmount not accepted by the Revolving Credit Lenders. The Borrower or, if requested by the Borrower, the Administrative Agent Agent, will notify such the Revolving Credit Lenders, and/or and, if the Revolving Credit Lenders do not accept the entire Revolving Offered Increase Amount, such banks, financial institutions or other entities.

Appears in 1 contract

Samples: Credit Agreement (Chatham Lodging Trust)

Increases in Revolving Credit Commitments. (a) At any time after the Closing Date and prior to the date that is twelve six months prior to the Revolving Credit Termination Date, so long as no Default or Event of Default has occurred and is continuing, the Borrower Borrowers may, by notice from the Borrower Representative to the Administrative Agent (a “Revolving Commitment Increase Notice”), which notice shall promptly be copied by the Administrative Agent to each Lender, request an increase in the Total Revolving Credit Commitments in an aggregate principal amount up to $50,000,000 (the “Revolving Offered Increase Amount”), ; provided that, (x) each such Revolving Offered Increase Amount shall be in a minimum amount of not less than $15,000,000 25,000,000 and (y) at no time shall the Total Revolving Credit Commitments exceed $250,000,000125,000,000. The Borrower may, at its election, Representative shall (i) first, offer one or more each of the Lenders the opportunity to provide a pro rata portion of any Revolving Credit Offered Increase Amount pursuant to Section 2.21(c) below, (ii) second, offer each of the Lenders the opportunity to provide all or a portion of any Revolving Offered Increase Amount not otherwise accepted by the other Lenders (pursuant to subparagraph (ci) above) pursuant to Section 2.21(c) below and/or and (iiiii) third, with the consent of the Swing Line Lender and the Administrative Agent (which consent shall not be unreasonably withheld, delayed or conditioned), offer one or more additional banks, financial institutions or other entities the opportunity to provide all or a portion of such Revolving Offered Increase Amount not accepted by the Lenders pursuant to Section 2.22(b2.21(b) below. Each Revolving Commitment Increase Notice shall specify which Revolving Credit Lenders and/or banks, financial institutions or other entities the Borrower Representative desires to provide such Revolving Offered Increase AmountAmount not accepted by the Lenders. The Borrower Representative or, if requested by the BorrowerBorrower Representative, the Administrative Agent Agent, will notify such Revolving Credit the Lenders, and/or and, if the Lenders do not accept the entire Revolving Offered Increase Amount, such banks, financial institutions or other entities.

Appears in 1 contract

Samples: Credit Agreement (KKR Real Estate Finance Trust Inc.)

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