Requested Increases Sample Clauses
The "Requested Increases" clause defines the process by which one party may formally request an increase in a specified amount, such as funding, service levels, or deliverables, under an existing agreement. Typically, this clause outlines the requirements for submitting a request, such as providing written notice, justification for the increase, and any supporting documentation. It may also specify timelines for review and approval, and set limits or conditions on when and how increases can be granted. The core function of this clause is to provide a clear, structured mechanism for modifying key terms of the agreement in response to changing needs, thereby reducing ambiguity and potential disputes.
Requested Increases. The Borrower shall have the right, prior to the Revolver Maturity Date and with the consent of the Agent and the Issuing Lenders (such consent not to be unreasonably withheld), from time to time during the term of this Credit Agreement, and subject to the terms and conditions set forth below, to increase the aggregate amount of the Revolving Committed Amount; provided that (i) no Default or Event of Default shall exist at the time of the request or the proposed increase in the Revolving Committed Amount; (ii) such increase must be in a minimum amount of $10,000,000 and in integral multiples of $1,000,000 above such amount, (iii) the Revolving Committed Amount shall not be increased pursuant to this Section 2.10(a) to an amount that, when added to the total amount of Term Loans outstanding on the effective date of such increase, would be greater than ONE BILLION DOLLARS ($1,000,000,000), (iv) no individual Lender's Commitment may be increased without such Lender's written consent, (v) the Borrower shall execute and deliver such Revolving Note(s) as are necessary to reflect the increase in the Revolving Committed Amount, (vi) Schedule 1.1 shall be amended to reflect the revised Revolving Committed Amount and revised Commitments and Commitment Percentages of the Lenders and (vii) if any Revolving Loans are outstanding at the time of an increase in the Revolving Committed Amount, the Borrower will prepay (provided that any such prepayment shall be subject to Section 4.3) one or more existing Revolving Loans in an amount necessary such that after giving effect to the increase in the Revolving Committed Amount each Lender will hold its Commitment Percentage (based on its share of the revised Revolving Committed Amount) of outstanding Revolving Loans. Any such increase in the Revolving Committed Amount shall apply, at the option of the Borrower, to (x) the Commitment with respect to Revolving Loans of one or more existing Lenders; provided that any Lender whose Commitment is being increased must consent in writing thereto and/or (y) the creation of a new Commitment with respect to Revolving Loans to one or more institutions that is not an existing Lender; provided that any such institution (A) must conform to the definition of Eligible Assignee, (B) must have a Commitment with respect to Revolving Loans of at least $10,000,000 unless otherwise agreed to by the Agent and the Borrower and (C) must become a Lender under this Credit Agreement by execution and deliver...