Commitment Increase Option definition

Commitment Increase Option means, on any date prior to the termination of the Reinvestment Period on which the aggregate outstanding principal amount of the Advances is at least equal to U.S.$514,250,000, the option of the Company to request in writing (which may be by email) (each an "Commitment Increase Request") from the Administrative Agent and the Lenders an increase of the Financing Commitments to up to U.S.$750,000,000; provided that the amount of each Commitment Increase Request shall be not less than U.S.$50,000,000.
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Commitment Increase Option means a one-time option exercisable by the Borrower in accordance with Section 2.1(c).
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Commitment Increase Option shall have the meaning ascribed to it in Section 2.3(B).
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Examples of Commitment Increase Option in a sentence

  • After the exercise of such Commitment Increase Option, the Aggregate Revolving Credit Commitment shall remain at $60,000,000 until the Revolving Credit Termination Date.

  • The Lender Group hereby grants to Borrower the option (the "Commitment Increase Option") of increasing the Maximum Revolver Amount from $40,000,000 to $50,000,000 (subject to any previous reductions in the Maximum Revolver Amount pursuant to Section 2.2, in which case the Maximum Revolver Amount shall increase by $10,000,000 above the Maximum Revolver Amount in effect immediately prior to the date of Borrower's exercise of the Commitment Increase Option).

  • If the Maximum Revolver Amount is increased due to Borrower's exercise of the Commitment Increase Option, it shall automatically decrease by an amount equal to (i) $1,000,000 on the first anniversary of the Restatement Closing Date and (ii) $1,000,000 on the second anniversary of the Restatement Closing Date.

  • If Borrower exercises the Commitment Increase Option, the Maximum Revolver Amount shall thereupon increase to $50,000,000 (subject to any previous reductions in the Maximum Revolver Amount pursuant to Section 2.2, in which case the Maximum Revolver Amount shall increase by $10,000,000 above the Maximum Revolver Amount in effect immediately prior to the date of Borrower's exercise of the Commitment Increase Option).

  • After the exercise of any such Commitment Increase Option, theAggregate Revolving Credit Commitment shall remain at the increased amount until the Revolving Credit Termination Date.” 2.3 E xtension of Delivery Date of Financial Reports.

  • The Company may, at any time during the Reinvestment Period, submit a Financing Commitment Increase Option Request to increase the Financing Commitment to an aggregate amount (together with the Initial Financing Commitment and any prior increase in the Financing Commitment pursuant to this Section 2.06) of up to $500,000,000 (any Financing Commitment resulting from approval of a Financing Commitment Increase Option Request, an “Increased Financing Commitment”).


More Definitions of Commitment Increase Option

Commitment Increase Option has the meaning set forth in Section 17.11.
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Related to Commitment Increase Option

  • Commitment Increase Agreement has the meaning assigned to such term in Section 2.20.

  • Commitment Increase has the meaning specified in Section 2.18(a).

  • Commitment Increase Date has the meaning assigned to such term in Section 2.08(e).

  • Commitment Increase Notice as defined in Section 2.1(b).

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).

  • Commitment Increase Supplement as defined in subsection 2.20(c).

  • Term Commitment Increase has the meaning specified in Section 2.14(a).

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Commitment Increase Effective Date has the meaning set forth in Section 2.02(b).

  • Revolving Credit Commitment Increase has the meaning specified in Section 2.14(a).

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Incremental Revolving Credit Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain revolving credit loans to one or more Borrowers.

  • Term A Commitment means, as to each Term A Lender, its obligation to make Term A Loans to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Term A Lender’s name on Schedule 2.01 under the caption “Term A Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Term A Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Initial Revolving Credit Commitment means, with respect to any Person, the commitment of such Person to make Initial Revolving Loans (and acquire participations in Letters of Credit and Swingline Loans) hereunder as set forth on the Commitment Schedule, or in the Assignment Agreement pursuant to which such Person assumed its Initial Revolving Credit Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09 or 2.19, (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.05 or (c) increased pursuant to Section 2.22. The aggregate amount of the Initial Revolving Credit Commitments as of the Closing Date is $75,000,000.

  • Initial Commitment means, as to the Lender, its obligation to make an Initial Loan to the Borrower pursuant to Section 2.01(a) in an aggregate amount not to exceed the amount set forth opposite the Lender’s name in Schedule 1.01A under the caption “Initial Commitment”, as such amount may be adjusted from time to time in accordance with this Agreement (including Section 2.14). The initial aggregate amount of the Initial Commitments is $75,000,000.

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Term A Loan Commitment means, as to each Lender, its obligation to make its portion of the Term A Loan to the Borrower pursuant to Section 2.01(c), in the principal amount set forth opposite such Lender’s name on Schedule 2.01. The aggregate principal amount of the Term A Loan Commitments of all of the Lenders as in effect on the Closing Date is $675,000,000.

  • Incremental Facility Amendment has the meaning specified in Section 2.14(d).

  • Incremental Revolving Commitments has the meaning specified in Section 2.14(a).

  • Incremental Loan Commitments has the meaning assigned thereto in Section 5.13(a)(ii).

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Total Revolving Commitment means the sum of the Revolving Commitments of the Revolving Lenders as the same may be decreased pursuant to Section 2.12(c) or increased pursuant to Section 2.19. As of the Closing Date, the amount of the Total Revolving Commitment is $100,000,000.

  • Loan Commitment means a statement transmitted in writing or electronically by a mortgage lender setting forth the terms and conditions upon which the mortgage lender is willing to make a particular residential mortgage loan to a particular borrower.