Increases in Total Commitment. The Borrower shall have the right to cause the Total Commitment to increase in minimum increments of $50,000,000 up to an aggregate increase amount not at any time exceeding $395,000,000 (the “Increase”), in which event the Agent will amend Schedule 2 to reflect the increased Commitment of each Bank, if any, that has agreed in writing to an increase and to add any third party financial institution that may have become a party to, and a “Bank” under, this Agreement in connection with the Increase; provided, however, that it shall be a condition precedent to the effectiveness of the Increase that the Increase Conditions shall have been satisfied and provided further the last minimum increment to bring the aggregate Increase up to $395,000,000 shall be $45,000,000 rather than $50,000,000. In the event that the Increase results in any change to the Commitment Percentage of any Bank, then on the effective date of such Increase in the Total Commitment (i) any new Bank, and any existing Bank whose Commitment has increased, shall pay to the Agent such amounts as are necessary to fund its new or increased Commitment Percentage of all existing Revolving Credit Loans, (ii) the Agent will use the proceeds thereof to pay to all Banks whose Commitment Percentage is decreasing such amounts as are necessary so that each such Bank’s participation in existing Revolving Credit Loans will be equal to its adjusted Commitment Percentage, and (iii) if the effective date of such Increase in the Total Commitment occurs on a date other than the last day of an Interest Period applicable to any outstanding Eurodollar Rate Loan, the Borrower will be responsible for Eurodollar Breakage Costs and any other amounts payable pursuant to §5.8 on account of the payments made pursuant to clause (ii) above. In no event shall any Bank be required to participate in an Increase.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Boston Properties Inc), Revolving Credit Agreement (Boston Properties Inc)
Increases in Total Commitment. The Borrower Borrower, with the consent of the Administrative Agent and each Bank whose Commitment Amount will be increasing, shall have the right to cause the Total Commitment to increase in minimum increments of $50,000,000 up to by an aggregate increase amount not at any time exceeding $395,000,000 100,000,000 (the “"Increase”"), in which event the Administrative Agent will amend Schedule 2 1 to reflect the increased Commitment of each Bank, if any, Bank that has agreed in writing to an increase and to add any third party financial institution that may have become a party to, and a “"Bank” " under, this Agreement in connection with the Increase; provided, however, that it shall be a condition precedent to the effectiveness of the Increase that the Increase Conditions shall have been satisfied and provided further the last minimum increment to bring the aggregate Increase up to $395,000,000 shall be $45,000,000 rather than $50,000,000satisfied. In the event that the Increase results in any change to the Commitment Percentage Percentages of any BankBanks, then on the effective date of such Increase in the Total Commitment (i) any new Bank, and any existing Bank whose Commitment has increased, shall pay to the Administrative Agent such amounts as are necessary to fund its new or increased Commitment Percentage Percentages of all existing Revolving Credit Loans, (ii) the Administrative Agent will use the proceeds thereof to pay to all Banks whose Commitment Percentage is decreasing such amounts as are necessary so that each such Bank’s 's participation in existing Revolving Credit Loans will be equal to its adjusted Commitment Percentage, and (iii) if the effective date of such Increase in the Total Commitment occurs on a date other than the last day of an Interest Period applicable to any outstanding Eurodollar Rate LIBOR Loan, the Borrower will be responsible for Eurodollar Breakage Costs and any other amounts payable pursuant to §5.8 Section 2.15 on account of the payments made pursuant to clause (ii) above. In no event shall any Bank be required to participate in an Increase.
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Increases in Total Commitment. The Borrower shall have the right to cause the Total Commitment to increase increase, from time to time, in minimum increments of $50,000,000 up to an aggregate increase amount not at any time exceeding $395,000,000 500,000,000 (the “Increase”), in which event the Agent will amend Schedule 2 to reflect the increased Commitment of each Bank, if any, that has agreed in writing to an increase and to add any third party financial institution that may have become a party to, and a “Bank” under, this Agreement in connection with the Increase; provided, however, that it shall be a condition precedent to the effectiveness of the Increase that the Increase Conditions shall have been satisfied and provided further the last minimum increment to bring the aggregate Increase up to $395,000,000 shall be $45,000,000 rather than $50,000,000satisfied. In the event that the Increase results in any change to the Commitment Percentage of any Bank, then on the effective date of such Increase in the Total Commitment (i) any new Bank, and any existing Bank whose Commitment has increased, shall pay to the Agent such amounts as are necessary to fund its new or increased Commitment Percentage of all existing Revolving Credit Loans, (ii) the Agent will use the proceeds thereof to pay to all Banks whose Commitment Percentage is decreasing such amounts as are necessary so that each such Bank’s participation in existing Revolving Credit Loans will be equal to its adjusted Commitment Percentage, and (iii) if the effective date of such Increase in the Total Commitment occurs on a date other than the last day of an Interest Period applicable to any outstanding Eurodollar Eurocurrency Rate Loan, the Borrower will be responsible for Eurodollar Eurocurrency Breakage Costs and any other amounts payable pursuant to §5.8 5.9 on account of the payments made pursuant to clause (ii) above. In no event shall any Bank be required to participate in an Increase.
Appears in 1 contract
Samples: Revolving Credit Agreement (Boston Properties LTD Partnership)
Increases in Total Commitment. The Borrower Borrower, with the consent of the Administrative Agent and each Bank whose Commitment will be increasing, shall have the right to cause the Total Commitment to increase in minimum increments of $50,000,000 up to an aggregate increase amount not at any time exceeding $395,000,000 75,000,000 (the “"Increase”"), in which and to have the Arranger, at the Borrower's request, use its reasonable best efforts to obtain, with the cooperation of the Borrower, commitments from third party financial institutions acceptable to the Borrower for the full amount of the Increase. In the event of an Increase, the Administrative Agent will amend Schedule 2 1 to reflect the increased Commitment of each Bank, if any, Bank that has agreed in writing to an increase and to add any third party financial institution institution(s) that may have become a party to, and a “"Bank” " under, this Agreement in connection with the IncreaseAgreement; provided, however, that it shall be a condition precedent to the effectiveness of the Increase that the Increase Conditions shall have been satisfied and provided further in a manner reasonably satisfactory to the last minimum increment to bring the aggregate Increase up to $395,000,000 shall be $45,000,000 rather than $50,000,000Administrative Agent. In the event that the Increase results in any change to the Commitment Percentage Percentages of any BankBanks, then on the effective date of such Increase in the Total Commitment (i) any new Bank, and any existing Bank whose Commitment has increased, shall pay to the Administrative Agent such amounts as are necessary to fund its new or increased Commitment Percentage Percentages of all existing Revolving Credit Loans, (ii) the Administrative Agent will use the proceeds thereof to pay to all Banks whose Commitment Percentage is decreasing such amounts as are necessary so that each such Bank’s 's participation in existing Revolving Credit Loans will be equal to its adjusted Commitment Percentage, and (iii) if the effective date of such Increase in the Total Commitment occurs on a date other than the last day of an Interest Period applicable to any outstanding Eurodollar Rate LIBOR Loan, the Borrower will be responsible for Eurodollar Breakage Costs and any other amounts payable pursuant to §5.8 Section 2.16 on account of the payments made pursuant to clause (ii) above. In no event shall any Bank be required to participate in an Increase.
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Increases in Total Commitment. (a) The Borrower shall have the right right, from time to cause time prior to the Maturity Date, to request an increase in the Total Revolving Credit Commitment (each such increase, an “Incremental Revolving Increase”) and/or, after the Delayed Draw Termination Date, to increase add one or more tranches of term loans (each an “Incremental Term Loan Facility”; each Incremental Term Loan Facility and each Incremental Revolving Increase are collectively referred to as an “Increase”) in each case, in minimum increments of $50,000,000 50,000,000, up to an aggregate increase amount not at any time exceeding $395,000,000 (the “500,000,000 for all increases after giving effect to such Increase”), in which event the Agent will amend Schedule 2 1 to reflect the increased Commitment of each Bank, if any, that has agreed in writing to an increase Increase and to add any third party financial institution that may have become a party to, and a “Bank” under, this Agreement in connection with the an Increase; provided, however, that it shall be a condition precedent to the effectiveness of the Increase that the Increase Conditions shall have been satisfied and provided further the last minimum increment Borrower shall have delivered to bring the aggregate Agent a certificate of the Borrower dated as of the effective date of such Increase up signed by an Authorized Officer (x) certifying and attaching the resolutions adopted by the Borrower approving or consenting to $395,000,000 shall be $45,000,000 rather than $50,000,000such Increase, and (y) certifying that the Increase Conditions have been satisfied as of such date. In the event that the an Increase results in any change to the any Commitment Percentage of any Bank, then on the effective date of such Increase in the Total Commitment (i) any new Bank, and any existing Bank whose Commitment has increased, shall pay to the Agent such amounts as are necessary to fund its new or increased Commitment Percentage of all existing Revolving Credit LoansLoans or to fund its new term loan, (ii) in the case of an Incremental Revolving Increase, the Agent will use the proceeds thereof to pay to all Revolving Credit Banks whose Commitment Percentage is decreasing such amounts as are necessary so that each such Revolving Credit Bank’s participation in existing Revolving Credit Loans will be equal to its adjusted Commitment Percentage, and (iii) if the effective date of such Increase in the Total Commitment occurs on a date other than the last day of an Interest Period applicable to any outstanding Eurodollar Eurocurrency Rate Loan, the Borrower will be responsible for Eurodollar Eurocurrency Breakage Costs and any other amounts payable pursuant to §5.8 5.9 on account of the payments made pursuant to clause (ii) above. In Each such Increase will be syndicated by the Arrangers using best efforts, but in no event shall any Bank be required to participate in an any Increase.
(b) This §2.10 shall supersede any provisions in §5.1.7 or §28 to the contrary.
(c) The Borrower shall pay such fees to the Arrangers, for their own account, and to the Agent, for its own account and for the benefit of the Banks providing such Increase, as are determined at the time of such Increase.
(d) To the extent that any Increase shall take the form of an Incremental Term Loan Facility, this Agreement and the other Loan Documents may be amended as necessary or appropriate, as reasonably agreed to by the Administrative Agent and the Borrower, to effect the provisions of this with the consent of the Administrative Agent, each Bank providing such Increase and the Borrower, to give effect to or to evidence the terms of such Incremental Term Loan Facility.
Appears in 1 contract
Samples: Credit Agreement (Boston Properties LTD Partnership)
Increases in Total Commitment. The Borrower shall have the right to cause the Total Commitment to increase in minimum increments of $50,000,000 up to by an aggregate increase amount not at any time exceeding $395,000,000 200,000,000 (the “"Increase”"), in which event the Agent will amend Schedule SCHEDULE 2 to reflect the increased Commitment of each Bank, if any, that has agreed in writing to an increase and to add any third party financial institution that may have become a party to, and a “"Bank” " under, this Agreement in connection with the Increase; providedPROVIDED, howeverHOWEVER, that it shall be a condition precedent to the effectiveness of the Increase that the Increase Conditions shall have been satisfied and provided further the last minimum increment to bring the aggregate Increase up to $395,000,000 shall be $45,000,000 rather than $50,000,000satisfied. In the event that the Increase results in any change to the Commitment Percentage of any Bank, then on the effective date of such Increase in the Total Commitment (i) any new Bank, and any existing Bank whose Commitment has increased, shall pay to the Agent such amounts as are necessary to fund its new or increased Commitment Percentage of all existing Revolving Credit Loans, (ii) the Agent will use the proceeds thereof to pay to all Banks whose Commitment Percentage is decreasing such amounts as are necessary so that each such Bank’s 's participation in existing Revolving Credit Loans will be equal to its adjusted Commitment Percentage, and (iii) if the effective date of such Increase in the Total Commitment occurs on a date other than the last day of an Interest Period applicable to any outstanding Eurodollar Rate Loan, the Borrower will be responsible for Eurodollar Breakage Costs and any other amounts payable pursuant to §Section 5.8 on account of the payments made pursuant to clause (ii) above. In no event shall any Bank be required to participate in an Increase.-45-
Appears in 1 contract
Increases in Total Commitment. The Borrower shall have the right to cause the Total Commitment to increase increase, from time to time, in minimum increments of $50,000,000 up to an aggregate increase amount not at any time exceeding $395,000,000 250,000,000 (the “Increase”), in which event the Agent will amend Schedule 2 to reflect the increased Commitment of each Bank, if any, that has agreed in writing to an increase and to add any third party financial institution that may have become a party to, and a “Bank” under, this Agreement in connection with the Increase; provided, however, that it shall be a condition precedent to the effectiveness of the Increase that the Increase Conditions shall have been satisfied and provided further the last minimum increment to bring the aggregate Increase up to $395,000,000 shall be $45,000,000 rather than $50,000,000satisfied. In the event that the Increase results in any change to the Commitment Percentage of any Bank, then on the effective date of such Increase in the Total Commitment (i) any new Bank, and any existing Bank whose Commitment has increased, shall pay to the Agent such amounts as are necessary to fund its new or increased Commitment Percentage of all existing Revolving Credit Loans, (ii) the Agent will use the proceeds thereof to pay to all Banks whose Commitment Percentage is decreasing such amounts as are necessary so that each such Bank’s participation in existing Revolving Credit Loans will be equal to its adjusted Commitment Percentage, and (iii) if the effective date of such Increase in the Total Commitment occurs on a date other than the last day of an Interest Period applicable to any outstanding Eurodollar Rate Loan, the Borrower will be responsible for Eurodollar Breakage Costs and any other amounts payable pursuant to §5.8 5.9 on account of the payments made pursuant to clause (ii) above. In no event shall any Bank be required to participate in an Increase.
Appears in 1 contract
Samples: Revolving Credit Agreement (Boston Properties LTD Partnership)
Increases in Total Commitment. (a) The Borrower shall have the right right, from time to cause time prior to the Maturity Date, to request an increase in the Total Revolving Credit Commitment (each such increase, an “Incremental Revolving Increase”) and/or, to increase add one or more tranches of term loans (each an “Incremental Term Loan Facility”; each Incremental Term Loan Facility and each Incremental Revolving Increase are collectively referred to as an “Increase”) in each case, in minimum increments of $50,000,000 50,000,000, up to an aggregate increase amount not at any time exceeding $395,000,000 (the “500,000,000 for all increases after giving effect to such Increase”), in which event the Agent will amend Schedule 2 1 to reflect the increased Commitment of each existing Bank, if any, that has agreed in writing to an increase Increase and to add any third party financial institution that may have become a party to, and a “Bank” under, this Agreement in connection with an Increase and the Commitment Percentages of each Bank after giving effect to such Increase; provided, however, that it shall be a condition precedent to the effectiveness of the Increase that the Increase Conditions shall have been satisfied and provided further the last minimum increment Borrower shall have delivered to bring the aggregate Agent a certificate of the Borrower dated as of the effective date of such Increase up signed by an Authorized Officer (x) certifying and attaching the resolutions adopted by the Borrower approving or consenting to $395,000,000 shall be $45,000,000 rather than $50,000,000such Increase, and (y) certifying that the Increase Conditions have been satisfied as of such date. In the event that the an Increase results in any change to the any Commitment Percentage of any Bank, then on the effective date of such Increase in the Total Commitment (i) any new Bank, and any existing Bank whose Commitment has increased, shall pay to the Agent such amounts as are necessary to fund its new or increased Commitment Percentage of all existing Revolving Credit LoansLoans or to fund its term loan under the Incremental Term Loan Facility, (ii) in the case of an Incremental Revolving Increase, the Agent will use the proceeds thereof to pay to all Revolving Credit Banks whose Commitment Percentage is decreasing such amounts as are necessary so that each such Revolving Credit Bank’s participation in existing Revolving Credit Loans will be equal to its adjusted Commitment Percentage, and (iii) if the effective date of such Increase in the Total Commitment occurs on a date other than the last day of an Interest Period applicable to any outstanding Eurodollar Eurocurrency Term Rate Loan, the Borrower will be responsible for Eurodollar Eurocurrency Breakage Costs and any other amounts payable pursuant to §5.8 5.9 on account of the payments made pursuant to clause (ii) above. In Each such Increase will be syndicated by the Arrangers using best efforts, but in no event shall any Bank be required to participate in an any Increase.
(b) This §2.10 shall supersede any provisions in §5.1.7 or §28 to the contrary.
(c) To the extent that any Increase shall take the form of an Incremental Term Loan Facility, this Agreement and the other Loan Documents may be amended as necessary or appropriate, as reasonably agreed to by the Administrative Agent and the Borrower, to effect the provisions of this with the consent of the Administrative Agent, each Bank providing such Increase and the Borrower, to give effect to or to evidence the terms of such Incremental Term Loan Facility.
Appears in 1 contract
Samples: Credit Agreement (Boston Properties LTD Partnership)
Increases in Total Commitment. (a) The Borrower shall have the right right, from time to cause time prior to the Maturity Date, to request an increase in the Total Revolving Credit Commitment (each such increase, an “Incremental Revolving Increase”) and/or, to increase add one or more tranches of term loans (each an “Incremental Term Loan Facility”; each Incremental Term Loan Facility and each Incremental Revolving Increase are collectively referred to as an “Increase”) in each case, in minimum increments of $50,000,000 50,000,000, up to an aggregate increase amount not at any time exceeding $395,000,000 (the “500,000,000 for all increases after giving effect to such Increase”), in which event the Agent will amend Schedule 2 1 to reflect the increased Commitment of each existing Bank, if any, that has agreed in writing to an increase Increase and to add any third party financial institution that may have become a party to, and a “Bank” under, this Agreement in connection with an Increase and the Commitment Percentages of each Bank after giving effect to such Increase; provided, however, that it shall be a condition precedent to the effectiveness of the Increase that the Increase Conditions shall have been satisfied and provided further the last minimum increment Borrower shall have delivered to bring the aggregate Agent a certificate of the Borrower dated as of the effective date of such Increase up signed by an Authorized Officer (x) certifying and attaching the resolutions adopted by the Borrower approving or consenting to $395,000,000 shall be $45,000,000 rather than $50,000,000such Increase, and (y) certifying that the Increase Conditions have been satisfied as of such date. In the event that the an Increase results in any change to the any Commitment Percentage of any Bank, then on the effective date of such Increase in the Total Commitment (i) any new Bank, and any existing Bank whose Commitment has increased, shall pay to the Agent such amounts as are necessary to fund its new or increased Commitment Percentage of all existing Revolving Credit LoansLoans or to fund its term loan under the Incremental Term Loan Facility, (ii) in the case of an Incremental Revolving Increase, the Agent will use the proceeds thereof to pay to all Revolving Credit Banks whose Commitment Percentage is decreasing such amounts as are necessary so that each such Revolving Credit Bank’s participation in existing Revolving Credit Loans will be equal to its adjusted Commitment Percentage, and (iii) if the effective date of such Increase in the Total Commitment occurs on a date other than the last day of an Interest Period applicable to any outstanding Eurodollar Term Rate Committed Loan, the Borrower will be responsible for Eurodollar Breakage Costs and any other amounts payable pursuant to §5.8 5.9 on account of the payments made pursuant to clause (ii) above. In Each such Increase will be syndicated by the Arrangers using best efforts, but in no event shall any Bank be required to participate in an any Increase.
(b) This §2.10 shall supersede any provisions in §5.1.7 or §28 to the contrary.
(c) To the extent that any Increase shall take the form of an Incremental Term Loan Facility, this Agreement and the other Loan Documents may be amended as necessary or appropriate, as reasonably agreed to by the Administrative Agent and the Borrower, to effect the provisions of this with the consent of the Administrative Agent, each Bank providing such Increase and the Borrower, to give effect to or to evidence the terms of such Incremental Term Loan Facility.
Appears in 1 contract
Samples: Credit Agreement (Boston Properties LTD Partnership)
Increases in Total Commitment. (a) The Borrower shall have the right right, from time to cause time prior to the Maturity Date, to request an increase in the Total Revolving Credit Commitment (each such increase, an “Incremental Revolving Increase”) and/or, to increase add one or more tranches of term loans (each an “Incremental Term Loan Facility”; each Incremental Term Loan Facility and each Incremental Revolving Increase are collectively referred to as an “Increase”) in each case, in minimum increments of $50,000,000 50,000,000, up to an aggregate increase amount not at any time exceeding $395,000,000 (the “500,000,000 for all increases after giving effect to such Increase”), in which event the Agent will amend Schedule 2 1 to reflect the increased Commitment of each existing Bank, if any, that has agreed in writing to an increase Increase and to add any third party financial institution that may have become a party to, and a “Bank” under, this Agreement in connection with an Increase and the Commitment Percentages of each Bank after giving effect to such Increase; provided, however, that it shall be a condition precedent to the effectiveness of the Increase that the Increase Conditions shall have been satisfied and provided further the last minimum increment Borrower shall have delivered to bring the aggregate Agent a certificate of the Borrower dated as of the effective date of such Increase up signed by an Authorized Officer (x) certifying and attaching the resolutions adopted by the Borrower approving or consenting to $395,000,000 shall be $45,000,000 rather than $50,000,000such Increase, and (y) certifying that the Increase Conditions have been satisfied as of such date. In the event that the an Increase results in any change to the any Commitment Percentage of any Bank, then on the effective date of such Increase in the Total Commitment (i) any new Bank, and any existing Bank whose Commitment has increased, shall pay to the Agent such amounts as are necessary to fund its new or increased Commitment Percentage of all existing Revolving Credit LoansLoans or to fund its term loan under the Incremental Term Loan Facility, (ii) in the case of an Incremental Revolving Increase, the Agent will use the proceeds thereof to pay to all Revolving Credit Banks whose Commitment Percentage is decreasing such amounts as are necessary so that each such Revolving Credit Bank’s participation in existing Revolving Credit Loans will be equal to its adjusted Commitment Percentage, and (iii) if the effective date of such Increase in the Total Commitment occurs on a date other than the last day of an Interest Period applicable to any outstanding Eurodollar Eurocurrency Term Rate Committed Loan, the Borrower will be responsible for Eurodollar Eurocurrency Breakage Costs and any other amounts payable pursuant to §5.8 5.9 on account of the payments made pursuant to clause (ii) above. In Each such Increase will be syndicated by the Arrangers using best efforts, but in no event shall any Bank be required to participate in an any Increase.
(b) This §2.10 shall supersede any provisions in §5.1.7 or §28 to the contrary.
(c) To the extent that any Increase shall take the form of an Incremental Term Loan Facility, this Agreement and the other Loan Documents may be amended as necessary or appropriate, as reasonably agreed to by the Administrative Agent and the Borrower, to effect the provisions of this with the consent of the Administrative Agent, each Bank providing such Increase and the Borrower, to give effect to or to evidence the terms of such Incremental Term Loan Facility.
Appears in 1 contract
Samples: Credit Agreement (Boston Properties LTD Partnership)