Common use of Right to Increase Revolving Credit Commitments Clause in Contracts

Right to Increase Revolving Credit Commitments. Provided that there is no Event of Default or Potential Default, if the Borrower wishes to increase the Revolving Credit Commitments, the Borrower shall notify the Agent thereof, provided that any such increase shall be in a minimum of $10,000,000.00 and the aggregate of all such increases in the Revolving Credit Commitments shall not exceed $50,000,000.00 from and after the Closing Date. Each Lender shall have the right at any time within fifteen (15) Business Days following such notice to increase its respective Revolving Credit Commitment so as to provide such added commitment pro rata in accordance with such Lender’s Ratable Share, and any portion of such requested increase that is not provided by any Lender shall: (i) first be available to the other Lenders pro rata in accordance with their Ratable Share, (ii) next be available to the other Lenders in such a manner as the Borrower, the Agent and those Lenders shall agree, and (iii) thereafter, to the extent not provided by the Lenders, to any additional lender proposed by the Borrower, which is approved by the Agent (which approval shall not be unreasonably withheld) and that becomes a party to this Agreement pursuant to Section 11.11 [Successors and Assigns]. In the event of any such increase in the aggregate Revolving Credit Commitments effected pursuant to the terms of this Section 2.14, new Revolving Credit Notes shall, to the extent necessary, be executed and delivered by the Borrower in exchange for the surrender of the existing Revolving Credit Notes and the Agent shall amend Schedule 1.1(B) to reflect any additional Lender(s) and any change in Lenders’ Ratable Shares.

Right to Increase Revolving Credit Commitments. Provided that there is no Event of Default or Potential Default, if the Borrower wishes to increase the Revolving Credit Commitments, the Borrower shall notify the Agent thereof, provided that any such increase shall be in a minimum of $10,000,000.00 and the aggregate of all such increases in the Revolving Credit Commitments shall not exceed $50,000,000.00 150,000,000.00 from and after the Closing Date. Each Lender shall have the right at any time within fifteen (15) Business Days following such notice to increase its respective Revolving Credit Commitment so as to provide such added commitment pro rata in accordance with such Lender’s Ratable Share, and any portion of such requested increase that is not provided by any Lender shall: (i) first be available to the other Lenders pro rata in accordance with their Ratable Share, (ii) next be available to the other Lenders in such a manner as the Borrower, the Agent and those Lenders shall agree, and (iii) thereafter, to the extent not provided by the Lenders, to any additional lender proposed by the Borrower, which is approved by the Agent (which approval shall not be unreasonably withheld) and that becomes a party to this Agreement pursuant to Section 11.11 10.11 [Successors and Assigns]. In the event of any such increase in the aggregate Revolving Credit Commitments effected pursuant to the terms of this Section 2.14, new Revolving Credit Notes shall, to the extent necessary, be executed and delivered by the Borrower in exchange for the surrender of the existing Revolving Credit Notes and the Agent shall amend Schedule 1.1(B) to reflect any additional Lender(s) and any change in Lenders’ Revolving Credit Commitments and Ratable Shares.

Right to Increase Revolving Credit Commitments. Provided that there is no Event of Default or Potential Default, if the Borrower wishes to increase the Revolving Credit Commitments, the Borrower shall notify the Agent thereof, provided that any such increase shall be in a minimum of $10,000,000.00 10,000,000 and the aggregate of all such increases in the Revolving Credit Commitments shall not exceed $50,000,000.00 50,000,000 from and after the Closing Date. Each Lender Bank shall have the right at any time within fifteen thirty (1530) Business Days days following such notice to increase its respective Revolving Credit Commitment so as to provide such added commitment pro rata in accordance with such Lender’s Bank's Ratable Share, and any portion of such requested increase that is not provided by any Lender Bank shall: (i) first be available to the other Lenders Banks pro rata in accordance with their Ratable Share, (ii) next be available to the other Lenders Banks in such a manner as the Borrower, the Agent and those Lenders Banks shall agree, and (iii) thereafter, to the extent not provided by the LendersBanks, to any additional lender bank proposed by the Borrower, which is approved by the Agent (which approval shall not be unreasonably withheld) and that becomes a party to this Agreement pursuant to Section 11.11 [Successors and Assigns]. In the event of any such increase in the aggregate Revolving Credit Commitments effected pursuant to the terms of this Section subsection 2.14, new Revolving Credit Notes shall, to the extent necessary, be executed and delivered by the Borrower in exchange for the surrender of the existing Revolving Credit Notes and the Agent shall amend Schedule 1.1(B) to reflect any additional Lender(s) and any change in Lenders’ Ratable SharesNotes.