Common use of Optional Increase of the Commitments Clause in Contracts

Optional Increase of the Commitments. (a) The Borrower may from time to time increase the Total Revolving Credit Commitment by the addition of one or more new Lenders consented to by the 15 24 Administrative Agent and the LC Issuer or by the agreement of any existing Lender (a "Proposed Combined Commitments Increase") in the manner set forth below; provided that (i) the then Total Revolving Credit Commitment plus the Proposed Combined Commitments Increase shall not be greater than the $300,000,000; (ii) immediately prior to and after giving effect to the Proposed Combined Commitments Increase no event has occurred and is continuing that constitutes an Event of Default or Potential Default; (iii) the Borrower shall pay any costs payable under Section 2.14(b) if and to the extent any Loans are prepaid on the effective date of such increase (the "Increase Date"); (iv) to the extent the Other Credit Agreement is in effect, the Borrower must request the increase of the Total Revolving Credit Commitment under the Other Credit Agreement and such new or existing Lender consenting to the increase under this Agreement must also consent to the increase under the Other Credit Agreement at the same percentage; and

Appears in 1 contract

Samples: Revolving Credit Agreement (Foster Wheeler Corp)

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Optional Increase of the Commitments. (a) The Borrower may from time to time increase the Total Revolving Credit Commitment by the addition of one or more new Lenders consented to by the 15 24 Administrative Agent and the LC Issuer or by the agreement of any existing Lender (a "Proposed Combined Commitments Increase") in the manner set forth below; provided that (i) the then Total Revolving Credit Commitment plus the Proposed Combined Commitments Increase shall not be greater than the $300,000,000100,000,000; (ii) immediately prior to and after giving effect to the Proposed Combined Commitments Increase no event has occurred and is continuing that constitutes an Event of Default or Potential Default; (iii) the Borrower shall pay any costs payable under Section 2.14(b) if and to the extent any Loans are prepaid on the effective date of such increase (the "Increase Date"); (iv) to the extent the Other Credit Agreement is in effect, the Borrower must request the increase of the Total Revolving Credit Commitment under the Other Credit Agreement and such new or existing Lender consenting to the increase under this Agreement must also consent to the increase under the Other Credit Agreement at the same percentage; and

Appears in 1 contract

Samples: Short Term Revolving Credit Agreement (Foster Wheeler Corp)

Optional Increase of the Commitments. (a) The Borrower may from time to time increase the Total Revolving Credit Commitment by the addition of one or more new Lenders consented to by the 15 24 Administrative Agent and the LC Issuer or by the agreement of any existing Lender (a "Proposed Combined Commitments IncreasePROPOSED COMBINED COMMITMENTS INCREASE") in the manner set forth below; provided PROVIDED that (i) the then Total Revolving Credit Commitment plus the Proposed Combined Commitments Increase shall not be greater than the $300,000,000100,000,000; (ii) immediately prior to and after giving effect to the Proposed Combined Commitments Increase no event has occurred and is continuing that constitutes an Event of Default or Potential Default; (iii) the Borrower shall pay any costs payable under Section 2.14(b) if and to the extent any Loans are prepaid on the effective date of such increase (the "Increase DateINCREASE DATE"); (iv) to the extent the Other Credit Agreement is in effect, the Borrower must request the increase of the Total Revolving Credit Commitment under the Other Credit Agreement and such new or existing Lender consenting to the increase under this Agreement must also consent to the increase under the Other Credit Agreement at the same percentage; and

Appears in 1 contract

Samples: Short Term Revolving Credit Agreement (Foster Wheeler Corp)

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Optional Increase of the Commitments. (a) The Borrower may from time to time increase the Total Revolving Credit Commitment by the addition of one or more new Lenders consented to by the 15 24 Administrative Agent and the LC Issuer or by the agreement of any existing Lender (a "Proposed Combined Commitments IncreasePROPOSED COMBINED COMMITMENTS INCREASE") in the manner set forth below; provided that (i) the then Total Revolving Credit Commitment plus the Proposed Combined Commitments Increase shall not be greater than the $300,000,000; (ii) immediately prior to and after giving effect to the Proposed Combined Commitments Increase no event has occurred and is continuing that constitutes an Event of Default or Potential Default; (iii) the Borrower shall pay any costs payable under Section 2.14(b) if and to the extent any Loans are prepaid on the effective date of such increase (the "Increase DateINCREASE DATE"); (iv) to the extent the Other Credit Agreement is in effect, the Borrower must request the increase of the Total Revolving Credit Commitment under the Other Credit Agreement and such new or existing Lender consenting to the increase under this Agreement must also consent to the increase under the Other Credit Agreement at the same percentage; and

Appears in 1 contract

Samples: Revolving Credit Agreement (Foster Wheeler Corp)

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