Common use of Notification by Agent; Additional Commitment Lenders Clause in Contracts

Notification by Agent; Additional Commitment Lenders. The Agent shall notify the Borrower and each applicable Lender of the Lenders’ responses to each request made hereunder for a Commitment Increase. To achieve the full amount of a requested Commitment Increase, to the extent that the existing applicable Lenders decline to increase their Commitments, or decline to increase their Commitments to the amount requested by the Borrower, the Borrower may, at its option, request the Agent or any of its Affiliates to, and the Agent and such Affiliates shall, use its reasonable efforts to arrange for other Eligible Assignees to become a Lender hereunder and to issue commitments in an amount equal to the amount of the increase in the Aggregate Commitments requested by the Borrower and not accepted by the existing Lenders (each such Eligible Assignee issuing a commitment and becoming a Lender, an “Additional Commitment Lender”), provided, however, that without the consent of the Agent, at no time shall the Commitment of any Additional Commitment Lender be less than $5,000,000.

Appears in 6 contracts

Samples: Credit Agreement (Vince Holding Corp.), Credit Agreement (Vince Holding Corp.), Credit Agreement (Vince Holding Corp.)

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Notification by Agent; Additional Commitment Lenders. The Agent shall notify the Borrower Borrowers and each applicable Lender of the Lenders’ responses to each request made hereunder for a Commitment Increasehereunder. To achieve the full amount of a requested Commitment Increaseincrease and subject to the approval of the Agent, the L/C Issuer and the Swing Line Lender (which approvals shall not be unreasonably withheld), to the extent that the existing applicable Lenders decline to increase their Commitments, or decline to increase their Commitments to the amount requested by the Lead Borrower, the Borrower mayAgent, at its optionin consultation with the Lead Borrower, request the Agent or any of its Affiliates to, and the Agent and such Affiliates shall, will use its reasonable efforts to arrange for other Eligible Assignees to become a Lender Lenders (each an “Additional Commitment Lender”) hereunder and to issue commitments in an amount equal to the amount of the increase in the Aggregate Commitments requested by the Borrower Borrowers and not accepted by the existing Lenders (each such Eligible Assignee issuing a commitment and becoming a Lender, an “Additional Commitment Lender”)Lenders, provided, however, that without the consent of the Agent, at no time shall the Commitment of any Additional Commitment Lender be less than $5,000,00010,000,000.

Appears in 3 contracts

Samples: Credit Agreement (Childrens Place, Inc.), Credit Agreement (Childrens Place Retail Stores Inc), Credit Agreement (Childrens Place Retail Stores Inc)

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Notification by Agent; Additional Commitment Lenders. The Agent shall notify the Borrower Borrowers and each applicable Lender of the Lenders’ responses to each request made hereunder for a Commitment Increasehereunder. To achieve the full amount of a requested Commitment Increaseincrease and subject to the approval of the Agent, the L/C Issuer and the Swing Line Lender (which approvals shall not be unreasonably withheld), to the extent that the existing applicable Lenders decline to increase their Commitments, or decline to increase their Commitments to the amount requested by the Lead Borrower, the Borrower mayAgent, at its optionin consultation with the Lead Borrower, request the Agent or any of its Affiliates to, and the Agent and such Affiliates shall, will use its reasonable efforts to arrange for other Eligible Assignees to become a Lender Lenders (each an “Additional Commitment Lender”) hereunder and to issue commitments in an amount equal to the amount of the increase in the Aggregate Commitments requested by the Borrower Borrowers and not accepted by the existing Lenders (each such Eligible Assignee issuing a commitment and becoming a Lender, an “Additional Commitment Lender”)Lenders, provided, however, that without the consent of the Agent, at no time shall the Commitment of any Additional Commitment Lender be less than $5,000,000.10,000,000. (d)

Appears in 1 contract

Samples: Credit Agreement

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