Commitment Increase definition
Examples of Commitment Increase in a sentence
After giving effect to any Commitment Increase, the outstanding Initial Revolver Loans may not be held pro rata in accordance with the new Initial Revolver Commitments.
In order to remedy the foregoing, on the effective date of the applicable Commitment Increase, the Initial Revolver Lenders (including, without limitation, any New Lenders) shall make advances among themselves so that after giving effect thereto the Initial Revolver Loans will be held by the Initial Revolver Lenders (including, without limitation, any New Lenders), on a pro rata basis in accordance with the Applicable Percentage hereunder (after giving effect to the applicable Commitment Increase).
For the avoidance of doubt, to the extent that total Credit Exposure does not exceed total Commitments following the reduction of Commitments required pursuant to Section 2.05(a)(ii) on any Temporary Commitment Increase Date, no mandatory prepayment of Loans pursuant to this Section 2.07(b) shall be required.
Any Commitment Increase or Term Loan may be denominated in Dollars, Pounds Sterling, Canadian Dollars or with the consent of Administrative Agent and to the extent that every Lender and New Lender providing such Commitment Increase or Term Loan is able to make Loans in another agreed currency, such other currency.
Any Revolver Loan made pursuant to a Commitment Increase shall be guaranteed by the Guarantors and rank pari passu in right of payment in respect of the Collateral and with the Obligations in respect of the Revolver Commitment and any Term Loans in effect prior to the Commitment Increase.