Increasing Purchaser definition
Examples of Increasing Purchaser in a sentence
Prior to 11:00 a.m., New York City time, on the Amendment Effective Date each Increasing Purchaser shall make available to the Managing Facility Agent, in immediately available funds at the Managing Facility Agent's office specified in subsection 11.2 hereto, the amount of such Purchaser's Pro Rata Debit.
Upon the effectiveness of such Purchase Increase Supplement, Schedule 1 shall, without further action, be deemed to have been amended appropriately to reflect the commitment of such Increasing Purchaser to make additional Purchases as set forth in the Purchase Increase Supplement and the resulting Pro Rata Share of each Purchaser.
Each Purchaser that is willing to participate in such requested Commitment Increase (each an "Increasing Purchaser") shall, in its sole discretion, give written notice to the Agent on or prior to the Commitment Date of the amount by which it is willing to increase its Commitment.
On the effective date of any increase in the Aggregate Commitment pursuant to this Section 1.9, (i) each New Purchaser shall pay to the Administrative Agent an amount equal to its Ratable Share of the Aggregate Investment and (ii) any Increasing Purchaser shall pay to the Administrative Agent an amount equal to the increase in its Ratable Share of the Aggregate Investment, in each case such payments shall be for the account of each other Purchaser.
The Seller shall be deemed to have received the proceeds of such Purchase from each Increasing Purchaser for all purposes immediately upon receipt thereof by each Reducing Purchaser, respectively.
Each Increasing Purchaser and each Assuming Purchaser shall, before 2:00 P.M. (New York City time) on the Increase Date, make Purchases in an amount equal to such Purchaser’s ratable portion of the Commitment Increase.