Commitment Increase definition
Examples of Commitment Increase in a sentence
To the extent that the existing Lenders elect not to participate in any Commitment Increase, subject to the approval of the Agent, the Issuer, and the Swing Line Lender (each such approval not to be unreasonably withheld), Eligible Assignees may become Lenders under this Agreement in connection with any requested Commitment Increase pursuant to a joinder agreement, in form and substance reasonably satisfactory to the Agent.
This Amendment is executed and delivered by the Lenders, the Borrower, the Administrative Agent and each L/C Issuer in lieu of the execution and delivery of a Commitment Increase Agreement, as applicable, otherwise contemplated by Section 2.04 of the Existing Credit Agreement, and the requirements of such Section 2.04 are hereby superseded with respect thereto.
Promptly following satisfaction of such conditions, the Administrative Agent shall notify the Lenders of such Class (including any Assuming Lenders) thereof and of the occurrence of the Commitment Increase Date by facsimile transmission or electronic messaging system.
Any Incremental Commitment Amendment shall not effectuate any other amendments without the consent of the applicable Lenders in accordance with Section 17.2. On each Increase Effective Date, each applicable Lender, Eligible Assignee or other Person which is providing a portion of the applicable Commitment Increase shall become a “Lender” for all purposes of this Agreement and the other Loan Documents.
Notwithstanding any other provision of any Loan Document, any references to the amount or percentages of the Revolving Commitments or the identity of the Lenders in the Loan Documents may be amended by the Agent and the Borrower Representative to the limited extent necessary to conform the Revolving Commitments for each Commitment Increase effected in accordance with the terms of this Section 2.11.