Common use of Termination or Increase in Aggregate Commitment Clause in Contracts

Termination or Increase in Aggregate Commitment. The Borrower shall have the right to terminate the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each lender providing such additional Commitment the up-front fee agreed to by the Borrower. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 without the approval of all of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Real Estate Corp)

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Termination or Increase in Aggregate Commitment. The Borrower shall have the right to terminate the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 250,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or by obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each lender providing such additional Commitment the up-front fee agreed to by the Borrower. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 250,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Inland Real Estate Corp)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right, upon at least three (3) business days’ notice, to terminate or cancel, in whole or in part, the unused portion of the Aggregate Revolving Commitment in excess of the Outstanding Revolving Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Any such reduction in the Aggregate Revolving Commitment shall be applied to reduce the Revolving Commitment of each Lender then holding a Revolving Commitment on a pro rata basis in accordance with their respective Revolving Commitments. Once terminated or reduced, the Revolving Commitments may not be reinstated or increased thereafter. Provided Borrower has not exercised any right to terminate or reduce the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Revolving Commitments, Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 650,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts Each such increase may apply to arrange such increased the Revolving Commitments or Term Loan Commitments, as may be determined by Borrower and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayedLenders providing such increase. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each new lender or then-current Lender providing such additional Commitment the up-front fee agreed to by the Borrowerbetween Borrower and such party. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto to this Agreement by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, increase to hold its or their Percentage of all applicable Advances outstanding at the close of business on such day, including, in the case of increases in the Aggregate Revolving Commitment, by funding more than its or their Percentage of new Revolving Advances made on such date or by purchasing shares of outstanding Revolving Loans held by the other Lenders or by a combination thereof, provided that all conditions to such funding under this Agreement are satisfied, including without limitation the certificate referenced in Section 4.2(iii) hereof. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances Revolving Loans to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 650,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right, upon at least three (3) business days’ notice, to terminate or cancel, in whole or in part, the unused portion of the Aggregate Revolving Commitment in excess of the Outstanding Revolving Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Any such reduction in the Aggregate Revolving Commitment shall be applied to reduce the Revolving Commitment of each Lender then holding a Revolving Commitment on a pro rata basis in accordance with their respective Revolving Commitments. Once terminated or reduced, the Revolving Commitments may not be reinstated or increased thereafter. Provided Borrower has not exercised any right to terminate or reduce the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Revolving Commitments, Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 600,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts Each such increase may apply to arrange such increased Commitments the Revolving Commitments, the Term A Loan Commitments, or the Term B Loan Commitments, as may be determined by Borrower and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayedLenders providing such increase. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each new lender or then-current Lender providing such additional Commitment the up-front fee agreed to by the Borrowerbetween Borrower and such party. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto to this Agreement by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, increase to hold its or their Percentage of all applicable Advances outstanding at the close of business on such day, including, in the case of increases in the Aggregate Revolving Commitment, by funding more than its or their Percentage of new Revolving Advances made on such date or by purchasing shares of outstanding Revolving Loans held by the other Lenders or by a combination thereof, provided that all conditions to such funding under this Agreement are satisfied, including without limitation the certificate referenced in Section 4.2(iii) hereof. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances Revolving Loans to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 600,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right, upon at least three (3) business days notice, to terminate or cancel, in whole or in part, the unused portion of the Aggregate Revolving Commitment in excess of the Outstanding Revolving Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Any such reduction in the Aggregate Revolving Commitment shall be applied to reduce the Revolving Commitment of each Lender then holding a Revolving Commitment on a pro rata basis in accordance with their respective Revolving Commitments. Once terminated or reduced, the Revolving Commitments may not be reinstated or increased thereafter. Provided Borrower has not exercised any right to terminate or reduce the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Revolving Commitments, Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 500,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts Each such increase may apply to arrange such increased Commitments the Revolving Commitments, the Term A Loan Commitments, or the Term B Loan Commitments, as may be determined by Borrower and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayedLenders providing such increase. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each new lender or then-current Lender providing such additional Commitment the up-front fee agreed to by the Borrowerbetween Borrower and such party. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, increase to hold its or their Percentage of all applicable Advances outstanding at the close of business on such day, including, in the case of increases in the Aggregate Revolving Commitment, by funding more than its or their Percentage of new Revolving Advances made on such date or by purchasing shares of outstanding Revolving Loans held by the other Lenders or by a combination thereof. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances Revolving Loans to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 500,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right to terminate the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of (A) $300,000,000 275,000,000 or (B) if the outstanding amount of the Term Loan has been increased at any time to an amount in excess of $175,000,000, an amount equal to $275,000,000 less the aggregate amount of all such increases in the Term Loan (the “Maximum Commitment Increase”). Such increase may be effected by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or by obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent and Co-Syndication Agents any amounts due to it them under the Fee Letter and to each lender providing such additional Commitment the up-front fee agreed to by the Borrower. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase amendment regarding increase in the form of Exhibit A attached hereto by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 175,000,000 plus the Maximum Commitment Increase without the approval of all of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Inland Real Estate Corp)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right to terminate the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 150,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or by obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each lender providing such additional Commitment shall pay the up-front fee agreed to by the BorrowerBorrower to each lender providing such additional Commitment. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 150,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Inland Diversified Real Estate Trust, Inc.)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right, upon at least three (3) business days notice, to terminate or cancel, in whole or in part, the unused portion of the Revolving Commitments in excess of the Outstanding Revolving Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Any such reduction in the Revolving Commitments shall be applied to reduce the Revolving Commitment of each Lender then holding a Revolving Commitment on a pro rata basis in accordance with their respective Revolving Commitments. Once terminated or reduced, the Revolving Commitments may not be reinstated or increased thereafter. Provided Borrower has not exercised any right to terminate or reduce the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Revolving Commitments, Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts Each such increase may apply to arrange such increased the Revolving Commitments or the Term Commitment, as may be determined by Borrower and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayedLenders providing such increase. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each new lender or then-current Lender providing such additional Commitment the up-front fee agreed to by the Borrowerbetween Borrower and such party. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increaseincrease to hold its or their Percentage of all applicable Advances outstanding at the close of business on such day, by either funding more than its or their Percentage of new Advances made on such date or by purchasing shares of outstanding Loans held by the other Lenders or by a combination thereof, to hold its or their Percentage of all Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right, upon at least three (3) business days’ notice, to terminate or cancel, in whole or in part, the unused portion of the Aggregate Revolving Commitment in excess of the Outstanding Revolving Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Any such reduction in the Aggregate Revolving Commitment shall be applied to reduce the Revolving Commitment of each Lender then holding a Revolving Commitment on a pro rata basis in accordance with their respective Revolving Commitments. Once terminated or reduced, the Revolving Commitments may not be reinstated or increased thereafter. Provided Borrower has not exercised any right to terminate or reduce the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Revolving Commitments, Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 650,000,000500,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts Each such increase may apply to arrange such increased the Revolving Commitments or Term Loan Commitments, as may be determined by Borrower and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayedLenders providing such increase. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each new lender or then-current Lender providing such additional Commitment the up-front fee agreed to by the Borrowerbetween Borrower and such party. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto to this Agreement by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, increase to hold its or their Percentage of all applicable Advances outstanding at the close of business on such day, including, in the case of increases in the Aggregate Revolving Commitment, by funding more than its or their Percentage of new Revolving Advances made on such date or by purchasing shares of outstanding Revolving Loans held by the other Lenders or by a combination thereof, provided that all conditions to such funding under this Agreement are satisfied, including without limitation the certificate referenced in Section 4.2(iii) hereof. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances Revolving Loans to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 650,000,000500,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right to terminate the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 200,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or by obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each lender providing such additional Commitment shall pay the up-front fee agreed to by the BorrowerBorrower to each lender providing such additional Commitment. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 200,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Inland Diversified Real Estate Trust, Inc.)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right to terminate the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 400,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s 's prior written approval of the identity of such new lenders) or obtaining the agreement, which shall be at such Lender’s 's or Lenders' sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the Borrower’s 's approval of any new lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each lender providing such additional Commitment the up-front fee agreed to by the Borrower. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 400,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Inland Real Estate Corp)

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Termination or Increase in Aggregate Commitment. The Borrower shall have the right, upon at least three (3) business days’ notice, to terminate or cancel, in whole or in part, the unused portion of the Aggregate Revolving Commitment in excess of the Outstanding Revolving Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Any such reduction in the Aggregate Revolving Commitment shall be applied to reduce the Revolving Commitment of each Lender then holding a Revolving Commitment on a pro rata basis in accordance with their respective Revolving Commitments. Once terminated or reduced, the Revolving Commitments may not be reinstated or increased thereafter. Provided Borrower has not exercised any right to terminate or reduce the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Revolving Commitments, Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment by up to an additional $500,000,000 to a maximum of $300,000,000 500,000,000aggregate amount not to exceed $1,100,000,000 (reduced to the extent Borrower has terminated or reduced the Revolving Commitments, the Term A Loans or the Term B Loans) by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts Each such increase may apply to arrange such increased the Revolving Commitments or, the Term A Loan Commitments, or the Term B Loan Commitments, as may be determined by Borrower and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayedLenders providing such increase. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter Letterany applicable fee letter and to each new lender or then-current Lender providing such additional Commitment the up-front fee agreed to by the Borrowerbetween Borrower and such party. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto to this Agreement by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, increase to hold its or their Percentage of all applicable Advances outstanding at the close of business on such day, including, in the case of increases in the Aggregate Revolving Commitment, by funding more than its or their Percentage of new Revolving Advances made on such date or by purchasing shares of outstanding Revolving Loans held by the other Lenders or by a combination thereof, provided that all conditions to such funding under this Agreement are satisfied, including without limitation the certificate referenced in Section 4.2(iii) hereof. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances Revolving Loans to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 500,000,0001,100,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right right, upon at least three (3) business days notice, to terminate or cancel, in whole or in part, the unused portion of the Aggregate Commitment in full by giving written notice thereof excess of the Outstanding Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Once terminated or reduced, the Aggregate Commitment may not be reinstated or increased thereafter. Provided Borrower has not exercised any right to terminate or reduce the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Aggregate Commitment, Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 150,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each new lender or then-current Lender providing such additional Commitment the up-front fee agreed to by the Borrowerbetween Borrower and such party. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate CommitmentXxxxxxxxx Xxxxxxxxxx, the Borrower Xxxxxxxx and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, increase to hold its or their Percentage of all Advances outstanding at the close of business on such day, by funding more than its or their Percentage of new Advances made on such date or by purchasing shares of outstanding Loans held by the other Lenders or by a combination thereof. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 150,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Terreno Realty Corp)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right, upon at least three (3) business days notice, to terminate or cancel, in whole or in part, the unused portion of the Aggregate Commitment in excess of the Allocated Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Any partial termination of the Aggregate Commitment shall be applied to reduce each Lender’s Commitment on a pro rata basis. Once terminated, the Aggregate Commitment may not be reinstated thereafter. Provided Borrower has not exercised any right to terminate the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, the Borrower shall also have the right from time to time to increase the Aggregate Commitment up to a maximum of $300,000,000 400,000,000 by either adding new lenders as Lenders to provide new Commitments (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreementagreement to increase the Commitments of existing Lenders, which increase shall be at such Lender’s or Lenders’ the sole discretion, discretion of one or more of the then current those Lenders that have agreed to increase its or their respective Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the BorrowerAgent’s approval of any such new lenders Lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each lender Lender providing such additional Commitment the up-front fee agreed to by the BorrowerBorrower in its commitment or fee letter with such Lender. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A L attached hereto by the Borrower, the Administrative Agent and the new lender Lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result, provided that Borrower shall be responsible for paying any amounts due under Section 3.4 to any Lender which sells all or any portion of a Fixed Rate Advance on a date which is not the last day of the Interest Period applicable thereto. In no event shall the Aggregate Commitment exceed $300,000,000 400,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Glimcher Realty Trust)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right, upon at least three (3) business days notice, to terminate or cancel, in whole or in part, the unused portion of the Aggregate Commitment in excess of the Allocated Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Any partial termination of the Aggregate Commitment shall be applied to reduce each Lender’s Commitment on a pro rata basis. Once terminated, the Aggregate Commitment may not be reinstated thereafter. Provided Borrower has not exercised any right to terminate the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, the Borrower shall also have the right from time to time to increase the Aggregate Commitment up to a maximum of $300,000,000 by either adding new lenders as Lenders to provide new Commitments (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreementagreement to increase the Commitments of existing Lenders, which increase shall be at such Lender’s or Lenders’ the sole discretion, discretion of one or more of the then current those Lenders that have agreed to increase its or their respective Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the BorrowerAgent’s approval of any such new lenders Lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each lender Lender providing such additional Commitment the up-front fee agreed to by the BorrowerBorrower in its commitment or fee letter with such Lender. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A L attached hereto by the Borrower, the Administrative Agent and the new lender Lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. In addition, on or before the effective date of any such increase, the Borrower shall have executed and delivered for recordation Amendments to the Mortgages reflecting such increase in the Aggregate Commitment and the Administrative Agent shall have received updates and endorsements to the title insurance policies for such Mortgages in form and substance reasonably satisfactory to it. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result, provided that Borrower shall be responsible for paying any amounts due under Section 3.4 to any Lender which sells all or any portion of a Fixed Rate Advance on a date which is not the last day of the Interest Period applicable thereto. In no event shall the Aggregate Commitment exceed $300,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Glimcher Realty Trust)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right right, upon at least three (3) business days notice, to terminate or cancel, in whole or in part, the unused portion of the Aggregate Commitment in full by giving written notice thereof excess of the Outstanding Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Once terminated or reduced, the Aggregate Commitment may not be reinstated or increased thereafter. Provided Borrower has not exercised any right to terminate or reduce the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Aggregate Commitment, Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 150,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each new lender or then-current Lender providing such additional Commitment the up-front fee agreed to by the Borrowerbetween Borrower and such party. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, increase to hold its or their Percentage of all Advances outstanding at the close of business on such day, by funding more than its or their Percentage of new Advances made on such date or by purchasing shares of outstanding Loans held by the other Lenders or by a combination thereof. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 150,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Senior Revolving Credit Agreement (Terreno Realty Corp)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right, upon at least three (3) business days notice, to terminate or cancel, in whole or in part, the unused portion of the Aggregate Commitment in excess of the Allocated Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Any partial termination of the Aggregate Commitment shall be applied to reduce each Lender’s Commitment on a pro rata basis. Once terminated, the Aggregate Commitment may not be reinstated thereafter. Provided Borrower has not exercised any right to terminate the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, the Borrower shall also have the right from time to time to increase the Aggregate Commitment up to a maximum of $300,000,000 400,000,000 by either adding new lenders as Lenders to provide new Commitments (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreementagreement to increase the Commitments of existing Lenders, which increase shall be at such Lender’s or Lenders’ the sole discretion, discretion of one or more of the then current those Lenders that have agreed to increase its or their respective Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the BorrowerAgent’s approval of any such new lenders Lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each lender Lender providing such additional Commitment the up-front fee agreed to by the BorrowerBorrower in its commitment or fee letter with such Lender. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A L attached hereto by the Borrower, the Administrative Agent and the new lender Lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. In addition, on or before the effective date of any such increase, the Borrower shall have executed and delivered for recordation Amendments to the Mortgages reflecting such increase in the Aggregate Commitment and the Administrative Agent shall have received updates and endorsements to the title insurance policies for such Mortgages in form and substance reasonably satisfactory to it. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances to achieve such result, provided that Borrower shall be responsible for paying any amounts due under Section 3.4 to any Lender which sells all or any portion of a Fixed Rate Advance on a date which is not the last day of the Interest Period applicable thereto. In no event shall the Aggregate Commitment exceed $300,000,000 400,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Credit Agreement (Glimcher Realty Trust)

Termination or Increase in Aggregate Commitment. The Borrower shall have the right, upon at least three (3) business days notice, to terminate or cancel, in whole or in part, the unused portion of the Aggregate Revolving Commitment in excess of the Outstanding Revolving Facility Amount, provided that each partial reduction shall be in a minimum amount of $1,000,000 or any whole multiple of $250,000 in excess thereof. Any such reduction in the Aggregate Revolving Commitment shall be applied to reduce the Revolving Commitment of each Lender then holding a Revolving Commitment on a pro rata basis in accordance with their respective Revolving Commitments. Once terminated or reduced, the Revolving Commitments may not be reinstated or increased thereafter. Provided Borrower has not exercised any right to terminate or reduce the Aggregate Commitment in full by giving written notice thereof to the Administrative Agent not less than one (1) Business Day prior to the date of such termination and by repaying all Obligations in full on such date. The Revolving Commitments, Borrower shall also have the right from time to time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $300,000,000 500,000,000 by either adding new lenders as Lenders (subject to the Administrative Agent’s prior written approval of the identity of such new lenders) or obtaining the agreement, which shall be at such Lender’s or Lenders’ sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts Each such increase may apply to arrange such increased Commitments the Revolving Commitments, the Term A Loan Commitments, the Term B Loan Commitments, or the Term C Loan Commitments, as may be determined by Borrower and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayedLenders providing such increase. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each new lender or then-current Lender providing such additional Commitment the up-front fee agreed to by the Borrowerbetween Borrower and such party. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit A attached hereto to the First Amendment to this Agreement by the Borrower, the Administrative Agent and the new lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new Advances made on such date or purchasing shares of outstanding Loans held by the other Lenders or a combination thereof, increase to hold its or their Percentage of all applicable Advances outstanding at the close of business on such day, including, in the case of increases in the Aggregate Revolving Commitment, by funding more than its or their Percentage of new Revolving Advances made on such date or by purchasing shares of outstanding Revolving Loans held by the other Lenders or by a combination thereof, provided that all conditions to such funding under this Agreement are satisfied, including without limitation the certificate referenced in Section 4.2(iii) hereof. The Lenders agree to cooperate in any required sale and purchase of outstanding Advances Revolving Loans to achieve such result. In no event shall the Aggregate Commitment exceed $300,000,000 500,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Senior Credit Agreement (Terreno Realty Corp)

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