Common use of Requests for Increase by Borrower Clause in Contracts

Requests for Increase by Borrower. The Borrower may, at any time, request that the Commitments hereunder of a Class of Commitments be increased (each such proposed increase being a “Commitment Increase”) (provided that in no event shall a Class of Non-Extended Loans be increased hereunder), upon notice to the Administrative Agent (who shall promptly notify the Lenders), which notice shall specify each existing Lender (each an “Increasing Lender”) and/or each additional lender (each an “Assuming Lender”) that shall have agreed to an additional Commitment and the date on which such increase is to be effective (the “Commitment Increase Date”), which shall be a Business Day at least three Business Days (or such lesser period as the Administrative Agent may reasonably agree) after delivery of such notice and 30 days prior to the Extended Commitment Termination Date; provided that: (A) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase shall be $10,000,000 or a larger multiple of $5,000,000 in excess thereof (or such lesser amount as the Administrative Agent may reasonably agree);

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (TPG Specialty Lending, Inc.)

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Requests for Increase by Borrower. The Borrower may, at any time, request propose that the total Commitments hereunder of a Class of Commitments be increased (each such proposed increase being a "Commitment Increase") (provided that in no event shall a Class of Non-Extended Loans be increased hereunder), upon by notice to the Administrative Agent (who shall promptly notify the Lenders)Agent, which notice shall specify specifying each existing Lender (each an "Increasing Lender") and/or each additional lender (each an "Assuming Lender") that shall have agreed to an additional Commitment and the date on which such increase is to be effective (the "Commitment Increase Date"), which shall be a Business Day at least three Business Days (or such lesser period as the Administrative Agent may reasonably agree) after delivery of such notice and 30 days prior to the Extended Commitment Termination Date; provided that: (A) that the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase shall be $10,000,000 5,000,000 or a larger multiple of $5,000,000 1,000,000; (B) immediately after giving effect to such Commitment Increase, the total Commitments hereunder shall not exceed $400,000,000; (C) no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the proposed Commitment Increase; (D) the representations and warranties contained in excess thereof this Agreement shall be true and correct on and as of the Commitment Increase Date as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such lesser amount as specific date); and (E) immediately after giving effect to such Commitment Increase, no Lender shall hold more than 20% of the Administrative Agent may reasonably agree);total Commitments.

Appears in 1 contract

Samples: Credit Agreement (Brunswick Corp)

Requests for Increase by Borrower. The Borrower may, at any time, request propose that the Commitments hereunder of a Class of Commitments be increased (each such proposed increase being a "Commitment Increase") (provided that in no event shall a Class of Non-Extended Loans be increased hereunder), upon by notice to the Administrative Agent (who shall promptly notify the Lenders), which notice shall specify specifying each existing Lender (each an "Increasing Lender") and/or each additional lender (each an "Assuming Lender") that shall have agreed to an additional Commitment and the date on which such increase is to be effective (the "Commitment Increase Date"), which shall be a Business Day at least three Business Days (or such lesser period as the Administrative Agent may reasonably agree) after delivery of such notice and 30 days prior to the Extended Commitment Termination Date; provided that: (A) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment commitment Increase shall be $10,000,000 or a larger multiple of $5,000,000 in excess thereof thereof, (or B) immediately after giving effect to such lesser amount as Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed $600,000,000; (C) each Assuming Lender shall be consented to by the Administrative Agent may reasonably agreeand the Issuing Bank; (D) no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the proposed Commitment Increase; and (E) the representations and warranties contained in this Agreement shall be true and correct on and as of the Commitment Increase Date as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date);.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Pennantpark Investment Corp)

Requests for Increase by Borrower. The Borrower may, at any time, request that the Commitments hereunder of a Class of Commitments be increased (each such proposed increase being a “Commitment Increase”) (provided that in no event shall a Class of Non-Extended Loans be increased hereunder), upon notice to the Administrative Agent (who shall promptly notify the Lenders), which notice shall specify each existing Lender (each an “Increasing Lender”) and/or each additional lender (each an “Assuming Lender”) that shall have agreed to an additional Commitment and the date on which such increase is to be effective (the “Commitment Increase Date”), which shall be a Business Day at least three Business Days (or such lesser period as the Administrative Agent may reasonably agree) after delivery of such notice and 30 days prior to the Extended Commitment Termination Date; provided that: (A) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase shall be $10,000,000 or a larger multiple of $5,000,000 in excess thereof (or such lesser amount as the Administrative Agent may reasonably agree); provided that this clause (A) shall not be a condition to a Commitment Increase following any Lender’s delivery of a GBSA Notice;

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Owl Rock Core Income Corp.)

Requests for Increase by Borrower. The Borrower may, at any time, request that the Commitments hereunder of a Class of Commitments be increased (each such proposed increase being a “Commitment Increase”) (provided that in no event shall a Class of Non-Extended Loans be increased hereunder), upon notice to the Administrative Agent (who shall promptly notify the Lenders), which notice shall specify each existing Lender (each an “Increasing Lender”) and/or each additional lender (each an “Assuming Lender”) that shall have agreed to an additional Commitment and the date on which such increase is to be effective (the “Commitment Increase Date”), which shall be a Business Day at least three Business Days (or such lesser period as the Administrative Agent may reasonably agree) after delivery of such notice and 30 days prior to the Extended Commitment Termination Date; provided that: (A) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase shall be $10,000,000 or a larger multiple of $5,000,000 in excess thereof (or such lesser amount as the Administrative Agent may reasonably agree); provided that this clause (A) shall not be a condition to a Commitment Increase following any Lender’s delivery of a GBSA Notice; (B) immediately after giving effect to such Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed $1,500,000,000;

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Owl Rock Capital Corp)

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Requests for Increase by Borrower. The Borrower may, at any time, request propose that the Commitments hereunder of a Class of Commitments be increased (each such proposed increase being a “Commitment Increase”) (provided that in no event shall a Class of Non-Extended Loans be increased hereunder), upon by notice to the Administrative Agent (who shall promptly notify the Lenders)Agent, which notice shall specify specifying each existing Lender (each an “Increasing Lender”) and/or each additional lender (each an “Assuming Lender”) that shall have agreed to an additional Commitment and the date on which such increase is to be effective (the “Commitment Increase Date”), which shall be a Business Day at least three Business Days (or such lesser period as the Administrative Agent may reasonably agree) after delivery of such notice and at least 30 days prior to the Extended Commitment Termination Date; provided that: (A) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase shall be $10,000,000 25,000,000 or a larger multiple of $5,000,000 in excess thereof (or such lesser any other minimum amount as may be agreed to by the Administrative Agent); (B) immediately after giving effect to such Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed $600,000,000; (C) each Assuming Lender shall be consented to by the Administrative Agent may reasonably agreeand the Issuing Bank (each such consent not to be unreasonably withheld or delayed); (D) no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the proposed Commitment Increase; and (E) the representations and warranties contained in this Agreement shall be true and correct in all material respects on and as of the Commitment Increase Date as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date).

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Solar Capital Ltd.)

Requests for Increase by Borrower. The Borrower may, at any time, request propose that the Commitments hereunder of a Class of Commitments be increased (each such proposed increase being a “Commitment Increase”) (provided that in no event shall a Class of Non-Extended Loans be increased hereunder), upon by notice to the Administrative Agent (who shall promptly notify the Lenders)Agent, which notice shall specify specifying each existing Lender (each an “Increasing Lender”) and/or each additional lender (each an “Assuming Lender”) that shall have agreed to an additional Commitment and the date on which such increase is to be effective (the “Commitment Increase Date”), which shall be a Business Day at least three Business Days (or such lesser period as the Administrative Agent may reasonably agree) after delivery of such notice and 30 days prior to the Extended Commitment Termination Date; provided that: (A) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase shall be $10,000,000 25,000,000 or a larger multiple of $5,000,000 in excess thereof thereof; (or B) immediately after giving effect to such lesser amount as Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed $2,000,000,000; (C) each Assuming Lender shall be consented to by the Administrative Agent may reasonably agreeand the Issuing Bank; (D) no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the proposed Commitment Increase; and (E) the representations and warranties contained in this Agreement shall be true and correct on and as of the Commitment Increase Date as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date);.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Agreement (Apollo Investment Corp)

Requests for Increase by Borrower. The Borrower may, at any time, request propose that the Commitments hereunder of a Class of Commitments be increased (each such proposed increase being a "Commitment Increase") (provided that in no event shall a Class of Non-Extended Loans be increased hereunder), upon by notice to the Administrative Agent (who shall promptly notify the Lenders)Agent, which notice shall specify specifying each existing Lender (each an "Increasing Lender") and/or each additional lender (each an "Assuming Lender") that shall have agreed agreed, in its sole discretion, to an additional Commitment and the date on which such increase is to be effective (the "Commitment Increase Date"), which shall be a Business Day at least three Business Days (or such lesser period as the Administrative Agent may reasonably agree) after delivery of such notice and 30 90 days prior to the Extended Commitment Termination Date; provided that: (Ai) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase shall be $10,000,000 or a larger multiple of $5,000,000 in excess thereof thereof; (or ii) immediately after giving effect to such lesser amount as Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed $1,150,000,000; (iii) each Assuming Lender shall be consented to by the Administrative Agent Agent; (iv) the conditions set forth in Section 3.2 shall be satisfied; (v) the Borrower shall pay to WCM, for the benefit of the Lenders, such fees as may reasonably agree);be agreed to by the parties; and (vi) the Borrower shall execute such Notes as are necessary to reflect the increase in the Commitments.

Appears in 1 contract

Samples: Credit Agreement (American Capital Strategies LTD)

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