Common use of Revolver Commitment Increase Clause in Contracts

Revolver Commitment Increase. (a) (i) Subject to the terms and conditions set forth herein, after the Third Restatement Date, the Borrowers shall have the right to request, by written notice to the Agent, an increase in the Revolver Commitments (a “Revolver Commitment Increase”) in an aggregate amount not to exceed $20,000,000; provided that (a) the Borrowers shall only be permitted to request 3 Revolver Commitment Increases after the Third Restatement Date, (b) any Revolver Commitment Increase shall be in a minimum amount of $5,000,000, (c) after giving effect to all such Revolver Commitment Increases, the aggregate amount of the Revolver Commitments outstanding shall not exceed $155,000,000 and (d) each such Revolver Commitment Increase shall be applied (i) 80% to an increase in the U.S. Revolver Sublimit and (ii) 20% to an increase in the Canadian Revolver Sublimit; provided that such percentages shall be adjusted to equal the then-existing proportion of such limits as may have been affected by the operation of Section 2.1.11 prior to such time.

Appears in 2 contracts

Samples: Credit Agreement (Milacron Holdings Corp.), Canadian Security Agreement (Milacron Holdings Corp.)

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Revolver Commitment Increase. (a) (i) Subject to the terms and conditions set forth herein, after the Third Restatement Date, the Borrowers shall have the right to request, by written notice to the Agent, an increase in the Revolver Commitments (a “Revolver Commitment Increase”) in an aggregate amount not to exceed $20,000,000; provided that (a) the Borrowers shall only be permitted to request 3 Revolver Commitment Increases after the Third Restatement Date, (b) any Revolver Commitment Increase shall be in a minimum amount of $5,000,000, (c) after giving effect to all such Revolver Commitment Increases, the aggregate amount of the Revolver Commitments outstanding shall not exceed $155,000,000 and (d) each such Revolver Commitment Increase shall be applied (i) 80% to an increase in the U.S. Revolver Sublimit and (ii) 20% to an increase in the Canadian Revolver Sublimit; provided that such percentages shall be adjusted to equal the then-existing proportion of such limits as may have been affected by the operation of Section 2.1.11 prior to such time.and

Appears in 1 contract

Samples: Credit Agreement (Milacron Holdings Corp.)

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Revolver Commitment Increase. (a) (i) Subject to the terms and conditions set forth herein, after the Third Fourth Restatement Date, the Borrowers shall have the right to request, by written notice to the Agent, an increase in the Revolver Commitments (a “Revolver Commitment Increase”) in an aggregate amount not to exceed $20,000,000; provided that (a) the Borrowers shall only be permitted to request 3 Revolver Commitment Increases after the Third Fourth Restatement Date, (b) any Revolver Commitment Increase shall be in a minimum amount of $5,000,000, (c) after giving effect to all such Revolver Commitment Increases, the aggregate amount of the Revolver Commitments outstanding shall not exceed $155,000,000 and (d) each such Revolver Commitment Increase shall be applied (i) 80% to an increase in the U.S. Revolver Sublimit and (ii) 20% to an increase in the Canadian Revolver Sublimit; provided that such percentages shall be adjusted to equal the then-existing proportion of such limits as may have been affected by the operation of Section 2.1.11 prior to such time.

Appears in 1 contract

Samples: Credit Agreement (Milacron Holdings Corp.)

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