Common use of Incremental Facility Request Clause in Contracts

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after the Effective Date, elect to request the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or the “Incremental Commitments”), by an aggregate amount of $125,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower plus all New Term Loan Commitments not exceeding $250,000,000 in the aggregate (each such amount in addition to the Term Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Term Loan Commitments shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”) to whom the Borrower proposes any portion of such New Term Loan Commitments be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Term Loan Commitments may elect or decline, in its sole discretion, to provide a New Term Loan Commitment.

Appears in 2 contracts

Samples: Term Loan Agreement (Xenia Hotels & Resorts, Inc.), Term Loan Agreement (Xenia Hotels & Resorts, Inc.)

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Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after the Effective Date, elect to request (A) an increase to the existing Revolving Commitments (any such increase, the “New Revolving Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or ”, and together with the New Revolving Commitments, the “Incremental Commitments”), by an aggregate amount of $125,000,000 350,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower Revolving Commitments (both existing Revolving Commitments and New Revolving Commitments) plus all New Term Loan Commitments Commitments, if any, not exceeding $250,000,000 850,000,000 in the aggregate (each such amount in addition to the Term Revolving Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Revolving Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Revolving Commitments being referred to herein as a “New Revolving Lender” and each Lender or other Eligible Assignee who agrees to provide all or portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”, as applicable) to whom the Borrower proposes any portion of such New Revolving Commitments or New Term Loan Commitments Commitments, as applicable, be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Revolving Commitments or New Term Loan Commitments Commitments, as applicable, may elect or decline, in its sole discretion, to provide a New Revolving Commitment or New Term Loan Commitment, as applicable.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Xenia Hotels & Resorts, Inc.), Revolving Credit Agreement (Xenia Hotels & Resorts, Inc.)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after prior to the Effective Revolving Commitment Termination Date, elect to request (A) an increase to the existing Revolving Commitments (any such increase, the “New Revolving Loan Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or the “Incremental Commitments”), by an aggregate amount of $125,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower Revolving Commitments (both existing and New Revolving Loan Commitments) plus all New Term Loan Commitments Commitments, if any, not exceeding $250,000,000 2,000,000,000 in the aggregate (each such amount in addition to the Term Revolving Commitments as of the Effective Closing Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Loan Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent (or such shorter or longer period as the Administrative Agent may agree in its sole discretion) and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Revolving Loan Commitments being referred to herein as a “New Revolving Loan Lender” and each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”, as applicable) to whom the Borrower proposes any portion of such New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, may elect or decline, in its sole discretion, to provide a New Revolving Loan Commitment or New Term Loan Commitment, as applicable, and any Lender that fails to respond to Borrower’s request shall be deemed to have declined such request.

Appears in 1 contract

Samples: Management Agreement (Macerich Co)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after prior to the Effective Revolving Commitment Termination Date, elect to request an increase to the establishment of one or more new term loan commitments existing Revolving Commitments (any such increase, the “New Term Revolving Loan Commitments” or the “Incremental Commitments), ) by an aggregate amount of $125,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower plus all New Term Loan Revolving Commitments not exceeding $250,000,000 800,000,000 (the “Maximum Increase Amount”) in the aggregate (each such amount in addition to the Term Revolving Commitments as of the Effective Closing Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Term Revolving Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 (or such other amount approved by the Administrative Agent) in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Term Revolving Loan Commitments shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 60 Business Days after the date on which such notice is delivered to the Administrative Agent (or such shorter or longer period as the Administrative Agent may agree in its sole discretion) and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Term Revolving Loan Commitments being referred to herein as a “New Term Revolving Loan Lender”) to whom the Borrower proposes any portion of such New Term Revolving Loan Commitments be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Term Revolving Loan Commitments may elect or decline, in its sole discretion, to provide a New Term Revolving Loan CommitmentCommitment and any Lender that fails to respond to Borrower’s request shall be deemed to have declined such request.

Appears in 1 contract

Samples: Credit Agreement (Macerich Co)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after prior to the Effective Revolving Commitment Termination Date, elect to request (A) an increase to the existing Revolving Commitments (any such increase, the “New Revolving Loan Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or the “Incremental Commitments”), by an aggregate amount of $125,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower Revolving Commitments (both existing and New Revolving Loan Commitments) plus all New Term Loan Commitments Commitments, if any, not exceeding $250,000,000 2,000,000,000 in the aggregate (each such amount in addition to the Term Revolving Commitments as of the Effective Closing Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Loan Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 60 Business Days after the date on which such notice is delivered to the Administrative Agent (or such shorter or longer period as the Administrative Agent may agree in its sole discretion) and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Revolving Loan Commitments being referred to herein as a “New Revolving Loan Lender” and each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”, as applicable) to whom the Borrower proposes any portion of such New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, may elect or decline, in its sole discretion, to provide a New Revolving Loan Commitment or New Term Loan Commitment, as applicable, and any Lender that fails to respond to Borrower’s request shall be deemed to have declined such request.

Appears in 1 contract

Samples: Management Agreement (Macerich Co)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after the Effective Date, elect to request the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or the “Incremental Commitments”), by an aggregate amount of $125,000,000 175,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower plus all New Term Loan Commitments not exceeding $250,000,000 350,000,000 in the aggregate (each such amount in addition to the Term Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Term Loan Commitments shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”) to whom the Borrower proposes any portion of such New Term Loan Commitments be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Term Loan Commitments may elect or decline, in its sole discretion, to provide a New Term Loan Commitment.

Appears in 1 contract

Samples: Term Loan Agreement (Xenia Hotels & Resorts, Inc.)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after during the period from the Effective Date to the date that is twelve (12) months prior to the latest applicable Maturity Date, elect to request (A) an increase to the existing Revolving Commitments (any such increase, the “New Revolving Loan Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or the “Incremental Commitments), by an aggregate amount of $125,000,000 that would result in the sum of all Revolving Commitments (both existing and New Revolving Loan Commitments) plus the original principal amount of all the Term Loans made to on the Borrower Effective Date plus all New Term Loan Commitments Commitments, if any, not exceeding $250,000,000 2,000,000,000 in the aggregate (each such amount in addition to the Term Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increaseincrease of $625,000,000, the “Maximum Increase Amount”) and not less than $10,000,000 50,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Loan Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Revolving Loan Commitments being referred to herein as a “New Revolving Loan Lender” and each Lender or other Eligible Assignee who agrees to provide all or portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”, as applicable) to whom the Borrower proposes any portion of such New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, may elect or decline, in its sole discretion, to provide a New Revolving Loan Commitment or New Term Loan Commitment, as applicable.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Taubman Centers Inc)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after the Effective Date, elect to request the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or the “Incremental Commitments”), by an aggregate amount of $125,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower plus all New Term Loan Commitments not exceeding $250,000,000 in the aggregate (each such amount in addition to the Term Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Term Loan Commitments shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”) to whom the Borrower proposes any portion of such New Term Loan Commitments be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Term Loan Commitments may elect or decline, in its sole discretion, to provide a New Term Loan Commitment.

Appears in 1 contract

Samples: Term Loan Agreement (Xenia Hotels & Resorts, Inc.)

Incremental Facility Request. The Borrower Borrowers may, by written notice to the Administrative Agent on one or more up to four (4) occasions on or after the Effective DateClosing Date (but not at any time after an election to extend the then Existing Revolving Loan Maturity Date pursuant to Section 3.5(d)), elect to request increases in the establishment aggregate principal amount of the Facilities through one or more increases in the existing Revolving Credit Facility (each such increase, an “Incremental Revolving Increase”), and/or the Term Facility (each such increase, an “Incremental Term Loan Increase”), and/or the addition of one or more new pari passu tranches of term loan commitments loans (the each an New Incremental Term Loan Commitments” or the Facility”; each Incremental Term Loan Facility and each Incremental Revolving Increase and Incremental Term Loan Increase are collectively referred to as “Incremental CommitmentsFacilities)) so long as after giving effect to the incurrence of any Incremental Facility, by an aggregate amount of $125,000,000 that would result in the sum of the original principal Revolving Credit Facility plus the Term Facility plus any Incremental Term Loan Facilities, in each case, at such time, does not exceed $1,350,000,000. Each such Incremental Facility must be in a minimum amount of all Term Loans made to the Borrower plus all New Term Loan Commitments not exceeding $250,000,000 in the aggregate (each such amount in addition to the Term Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 1,000,000 in excess of that amountamount (or such other amounts as are agreed to by the Borrowers and the Administrative Agent. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes Borrowers propose that the New Term Loan Commitments applicable Incremental Facility shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Term Loan Commitments Incremental Revolving Increase being referred to herein as a “New Revolving Loan Lender” and each Lender or other Eligible Assignee who agrees to provide all or portion of the Incremental Term Loan Increase or Incremental Term Loan Facility being referred to herein as an “New Term Loan Lender”, as applicable; such Lenders to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and the Borrowers (a “New Lender Joinder Agreement”)) to whom the Borrower proposes Borrowers propose any portion of such New Term Loan Commitments the applicable Incremental Facility be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Term Loan Commitments applicable Incremental Facility may elect or decline, in its sole discretion, to provide a New commitment with respect to an Incremental Facility and a Lender’s or other Eligible Assignee’s failure to respond shall be deemed to be a rejection of such request. Except in the case of a newly established Incremental Term Loan CommitmentFacility, each such Incremental Facility (including any existing Incremental Term Loan Facility) shall be on the same terms as the Facility being increased and all incremental commitments and loans provided as part of a newly established Incremental Term Loan Facility shall be on terms agreed to by the Borrowers and the Lenders providing such Incremental Term Loan Facility; provided, that if the terms of such Incremental Term Loan Facility (other than final maturity) are not the same as the terms of a then existing Incremental Term Loan Facility, such new Incremental Term Loan Facility shall be on terms reasonably acceptable to the Administrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Brandywine Operating Partnership, L.P.)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after prior to the Effective Revolving Commitment Termination Date, elect to request (A) an increase to the existing Revolving Commitments (any such increase, the “New Revolving Loan Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or the “Incremental Commitments”), by an aggregate amount of $125,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower Revolving Commitments (both existing and New Revolving Loan Commitments) plus all New Term Loan Commitments (including, for the avoidance of doubt, the Series A Term Loan Commitments), if any, not exceeding $250,000,000 2,000,000,000 in the aggregate (each such amount in addition to the Term Revolving Commitments as of the Effective Closing Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Loan Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent (or such shorter or longer period as the Administrative Agent may agree in its sole discretion) and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Revolving Loan Commitments being referred to herein as a “New Revolving Loan Lender” and each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”, as applicable) to whom the Borrower proposes any portion of such New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, may elect or decline, in its sole discretion, to provide a New Revolving Loan Commitment or New Term Loan Commitment, as applicable.

Appears in 1 contract

Samples: Joinder Agreement (Macerich Co)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after the Effective Date, elect to request (A) an increase to the existing Revolving Commitments (any such increase, the “New Revolving Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or ”, and together with the New Revolving Commitments, the “Incremental Commitments”), by an aggregate amount of $125,000,000 350,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower Revolving Commitments (both existing Revolving Commitments and New Revolving Commitments) plus all New Term Loan Commitments Commitments, if any, not exceeding $250,000,000 750,000,000 in the aggregate (each such amount in addition to the Term Revolving Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Revolving Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Revolving Commitments being referred to herein as a “New Revolving Lender” and each Lender or other Eligible Assignee who agrees to provide all or portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”, as applicable) to whom the Borrower proposes any portion of such New Revolving Commitments or New Term Loan Commitments Commitments, as applicable, be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Revolving Commitments or New Term Loan Commitments Commitments, as applicable, may elect or decline, in its sole discretion, to provide a New Revolving Commitment or New Term Loan Commitment, as applicable.

Appears in 1 contract

Samples: Revolving Credit Agreement (Xenia Hotels & Resorts, Inc.)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after during the period from the Effective Date to the date that is twelve (12) months prior to the Maturity Date, elect to request (A) an increase to the existing Commitments (any such increase, the “New Revolving Loan Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or the “Incremental Commitments”), by an aggregate amount of $125,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower Commitments (both existing and New Revolving Loan Commitments) plus all New Term Loan Commitments Commitments, if any, not exceeding $250,000,000 1,500,000,000 in the aggregate (each such amount in addition to the Term Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Loan Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Revolving Loan Commitments being referred to herein as a “New Revolving Loan Lender” and each Lender or other Eligible Assignee who agrees to provide all or portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”, as applicable) to whom the Borrower proposes any portion of such New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, may elect or decline, in its sole discretion, to provide a New Revolving Loan Commitment or New Term Loan Commitment, as applicable.

Appears in 1 contract

Samples: Revolving Credit Agreement (Taubman Centers Inc)

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Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after during the period from the Effective Date to the date that is twelve (12) months prior to the latest applicable Maturity Date, elect to request (A) an increase to the existing Revolving Commitments (any such increase, the “New Revolving Loan Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or the “Incremental Commitments), by an aggregate amount of $125,000,000 that would result in the sum of all Revolving Commitments (both existing and New Revolving Loan Commitments) plus the original principal amount of all the Term Loans made to on the Borrower Effective Date plus all New Term Loan Commitments Commitments, if any, not exceeding $250,000,000 2,000,000,000 in the aggregate (each such amount in addition to the Term Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increaseincrease of $600,000,000, the “Maximum Increase Amount”) and not less than $10,000,000 50,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Loan Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Revolving Loan Commitments being referred to herein as a “New Revolving Loan Lender” and each Lender or other Eligible Assignee who agrees to provide all or portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”, as applicable) to whom the Borrower proposes any portion of such New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, may elect or decline, in its sole discretion, to provide a New Revolving Loan Commitment or New Term Loan Commitment, as applicable.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Taubman Centers Inc)

Incremental Facility Request. The Borrower Borrowers may, by written notice to the Administrative Agent on one or more up to four occasions on or after the Effective DateDate (but not at any time after an election to extend the Scheduled Revolving Loan Maturity Date pursuant to Section 3.5(b)), elect to request (A) an increase to the existing Revolving Loan Commitments (any such increase, the “New Revolving Loan Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or ”, and together with the New Revolving Loan Commitments, the “Incremental Commitments”), by an aggregate amount of $125,000,000 400,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower Revolving Loan Commitments (both existing Revolving Loan Commitments and New Revolving Loan Commitments) plus all New Term Loan Commitments Commitments, if any, not exceeding $250,000,000 1,000,000,000 in the aggregate (each such amount in addition to the Term Revolving Loan Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Loan Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 1,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes Borrowers propose that the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Revolving Loan Commitments being referred to herein as a “New Revolving Loan Lender” and each Lender or other Eligible Assignee who agrees to provide all or portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”, as applicable) to whom the Borrower proposes Borrowers propose any portion of such New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, may elect or decline, in its sole discretion, to provide a New Revolving Loan Commitment or New Term Loan Commitment, as applicable and a Lender’s or other Eligible Assignee’s failure to respond shall be deemed to be a rejection of such request.

Appears in 1 contract

Samples: Revolving Credit Agreement (Brandywine Operating Partnership, L.P.)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after the Effective Date, elect to request (A) an increase to the existing Commitments (any such increase, the “New Revolving Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or ”, and together with the New Revolving Commitments, the “Incremental Commitments”), by an aggregate amount of $125,000,000 500,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower Commitments (both existing Commitments and New Revolving Commitments) plus all New Term Loan Commitments Commitments, if any, not exceeding $250,000,000 1,000,000,000 in the aggregate (each such amount in addition to the Term Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Revolving Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Revolving Commitments being referred to herein as a “New Revolving Lender” and each Lender or other Eligible Assignee who agrees to provide all or portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”, as applicable) to whom the Borrower proposes any portion of such New Revolving Commitments or New Term Loan Commitments Commitments, as applicable, be allocated and the amounts of such allocations; provided that (x) any Lender or other Eligible Assignee approached to provide all or a portion of the New Revolving Commitments or New Term Loan Commitments Commitments, as applicable, may elect or decline, in its sole discretion, to provide a New Revolving Commitment or New Term Loan Commitment, as applicable and (y) any proposed Eligible Assignee for a New Revolving Commitment that is not already a Lender with an existing Commitment shall require the consent of the Agent and the Issuing Banks.

Appears in 1 contract

Samples: Revolving Credit Agreement (Piedmont Office Realty Trust, Inc.)

Incremental Facility Request. The Borrower Borrowers may, by written notice to the Administrative Agent on one or more up to four occasions on or after the Effective DateDate (but not at any time after an election to extend the Scheduled Revolving Loan Maturity Date pursuant to Section 3.5(b)), elect to request (A) an increase to the existing Revolving Loan Commitments (any such increase, the “New Revolving Loan Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or ”, and together with the New Revolving Loan Commitments, the “Incremental Commitments”), by an aggregate amount of $125,000,000 400,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower Revolving Loan Commitments (both existing Revolving Loan Commitments and New Revolving Loan Commitments) plus all New Term Loan Commitments Commitments, if any, not exceeding $250,000,000 1,000,000,000 in the aggregate (each such amount in addition to the Term Revolving Loan Commitments as of the Effective Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Loan Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 1,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes Borrowers propose that the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Revolving Loan Commitments being referred to herein as a “New Revolving Loan Lender” and each Lender or other Eligible Assignee who agrees to provide all or portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”, as applicable) to whom the Borrower proposes Borrowers propose any portion of such New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Revolving Loan Commitments or New Term Loan Commitments Commitments, as applicable, may elect or decline, in its sole discretion, to provide a New Revolving Loan DB1/ 97661265.5 Commitment or New Term Loan Commitment, as applicable and a Lender’s or other Eligible Assignee’s failure to respond shall be deemed to be a rejection of such request.

Appears in 1 contract

Samples: Revolving Credit Agreement (Brandywine Operating Partnership, L.P.)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after prior to the Effective Revolving Commitment Termination Date, elect to request an increase to the establishment of one or more new term loan commitments existing Revolving Commitments (any such increase, the “New Term Revolving Loan Commitments” or the “Incremental Commitments), ) by an aggregate amount of $125,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower plus all New Term Loan Revolving Commitments not exceeding $250,000,000 950,000,000 (the “Maximum Increase Amount”) in the aggregate (each such amount in addition to the Term Revolving Commitments as of the Effective Closing Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Term Revolving Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 (or such other amount approved by the Administrative Agent) in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Term Revolving Loan Commitments shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 60 Business Days after the date on which such notice is delivered to the Administrative Agent (or such shorter or longer period as the Administrative Agent may agree in its sole discretion) and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Term Revolving Loan Commitments being referred to herein as a “New Term Revolving Loan Lender”) to whom the Borrower proposes any portion of such New Term Revolving Loan Commitments be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Term Revolving Loan Commitments may elect or decline, in its sole discretion, to provide a New Term Revolving Loan CommitmentCommitment and any Lender that fails to respond to Xxxxxxxx’s request shall be deemed to have declined such request.

Appears in 1 contract

Samples: Credit Agreement (Macerich Co)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after the Effective Date, elect to request (A) an increase to the existing Revolving Commitments (any such increase, the “New Revolving Commitments”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” or ”, and together with the New Revolving Commitments, the “Incremental Commitments”), by an aggregate amount of $125,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower plus all New Term Loan Commitments not exceeding $250,000,000 in the aggregate 300,000,000 (each such amount in addition to the Revolving Commitments and Additional Term Loan Commitments and Initial Term Loans as of the Effective Date, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 25,000,000 per request (or such lesser amount which shall be approved by Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Revolving Commitments plus New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Revolving Commitments or New Term Loan Commitments Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Term Loan Revolving Commitments being referred to herein as a “New Term Loan Lender”) to whom the Borrower proposes any portion of such New Term Loan Commitments be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Term Loan Commitments may elect or decline, in its sole discretion, to provide a New Term Loan Commitment.Revolving

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Xenia Hotels & Resorts, Inc.)

Incremental Facility Request. The Borrower may, by written notice to the Administrative Agent on one or more occasions on or after during the period from the Effective Date to the date that is twelve (12) months prior to the Maturity Date, elect to request the establishment of one or more new term additional loan commitments (any such additional commitments, the “New Term Loan Commitments” or the “Incremental Commitments), by ) in an aggregate amount of $125,000,000 that would result in the sum of the original principal amount of all Term Loans made to the Borrower plus all New Term Loan Commitments not exceeding $250,000,000 125,000,000 in the aggregate (each such amount in addition to the Term Commitments as of the Effective Dateamount, a “Facility Increase” and the maximum aggregate increase, the “Maximum Increase Amount”) and not less than $10,000,000 50,000,000 per request (or such lesser amount which shall be approved by the Administrative Agent or such lesser amount that shall constitute the difference between the Maximum Increase Amount and the sum of all such New Term Loan Commitments obtained prior to such date), and integral multiples of $5,000,000 in excess of that amount. Each such notice shall specify (A) the date (each, an “Increased Amount Date”) on which the Borrower proposes that the New Term Loan Commitments shall be effective, which shall be a date not less than 10 Business Days, nor more than 30 Business Days after the date on which such notice is delivered to the Administrative Agent and (B) the identity of each Lender or other Person that is an Eligible Assignee (each Lender or other Eligible Assignee who agrees to provide all or a portion of the New Term Loan Commitments being referred to herein as a “New Term Loan Lender”) to whom which the Borrower proposes any portion of such New Term Loan Commitments be allocated and the amounts of such allocations; provided that any Lender or other Eligible Assignee approached to provide all or a portion of the New Term Loan Commitments may elect or decline, in its sole discretion, to provide a New Term Loan Commitment.

Appears in 1 contract

Samples: Term Loan Agreement (Taubman Centers Inc)

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