Request to Increase to Aggregate Commitments Clause Samples
The "Request to Increase to Aggregate Commitments" clause allows a borrower to formally request an increase in the total amount of credit available under a loan agreement. Typically, this process involves the borrower notifying the lender or agent, specifying the desired increase, and sometimes obtaining consent from existing or new lenders. For example, a company may seek to expand its revolving credit facility to support business growth or acquisitions. This clause provides a structured mechanism for adjusting the credit limit, ensuring flexibility for the borrower while maintaining clear procedures and protections for the lenders.
Request to Increase to Aggregate Commitments. (a) In addition to its right to request borrowings in excess of the Aggregate Commitments as specified in Section 2.16(A), Borrower shall also have the right during the Availability Period to send a written request to Administrative Agent that the Aggregate Commitments be increased by adding to this Agreement one or more other committed lenders or Lender Groups with a committed lender (which may include any existing Committed Lender with the consent of such Committed Lender) (each such lender an “Additional Lender”); provided, that each such Additional Lender (and the other members of its Lender Group, if applicable) shall have entered into Joinder Agreement or other similar agreement in form and substance satisfactory to the Administrative Agent and Borrower pursuant to which such Additional Lender shall (1) undertake a Commitment (and if any such Additional Lender is an existing Committed Lender, its Commitment shall be in addition to its existing Commitment hereunder), (2) identify the other members of its Lender Group, and (3) provide the other information specified in the form of Joinder Agreement and as is requested by Administrative Agent or the Paying Agent. Such Additional Lender shall thereupon become a “Committed Lender” and the members of its Lender Group (if applicable) shall become party hereto for all purposes of this Agreement upon the effectiveness of such Joinder Agreement or other approved agreement (the date of the effectiveness of any such agreement being hereinafter referred to as the “Increased Commitment Date”).
Request to Increase to Aggregate Commitments. (a) In addition to its right to request borrowings in excess of the Aggregate Commitment as specified in Section 2.18(A) hereof, the Borrower shall also have the right during the Availability Period to send a written request to the Administrative Agent that the Aggregate Commitment be increased by adding to this Agreement one or more other non-conduit lenders or lender groups with a non-conduit lender (which may include any existing Non-Conduit Lender) (each such lender an “Additional Lender”); provided, that each such Additional Lender