Proposed Increase definition
Examples of Proposed Increase in a sentence
The Borrowers may offer to the existing Lenders and, with the consent of the Administrative Agent (which consent shall not be unreasonably withheld), one or more additional banks, financial institutions or other entities the opportunity to participate in all or a portion of the Proposed Increase Amount pursuant to Section 1.05(b).
New Revolving Credit Lenders will be solicited only if the total Proposed Increase Amounts are less than the Additional Revolving Commitment Amount requested by the Borrowers.
The Borrower may, with the consent of the Agent and any Issuing Banks (which consents shall not be unreasonably withheld), offer one or more additional banks, financial institutions or other entities the opportunity to participate in all or a portion of the Proposed Increase Amount pursuant to paragraph (b) below.
For measurement purposes, Gross Sales for the twelve (12) months preceding the Proposed Increase Date will be compared with the Gross Sales for the twelve (12) months immediately preceding (i) the date of this License, (ii) two years prior to the Proposed Increase Date or (iii) the last Increase Date, as appropriate.
If the aggregate Proposed Increase Amounts of all Increasing Lenders exceeds the Requested Commitment Increase, then allocations among the Increasing Lenders will be based on the ratio of each Increasing Lender’s Proposed Increase Amount to the aggregate of all Proposed Increase Amounts.
In the event that neither condition (a) nor (b) is met at a Proposed Increase Date, such increase shall not occur on the Proposed Increase Date, but shall occur on the first day of Licensee's fiscal year following the fiscal year during which either condition (a) or (b) is met, using, as the starting date for comparison, the same starting date that was used for the missed Proposed Increase Date.
The purpose of the Proposed Increase in Fund Size is to accommodate the issuance of such New Units pursuant to the Proposed Authority to Allot and Issue New Units.
If the amount of the aggregate Proposed Increase Amounts is less than the Requested Commitment Increase, then the Company may extend offers to third party financial institutions to participate in any portion of the Requested Commitment Increase that has not been committed to by the Lenders as of the applicable Commitment Date; provided, however, that the Commitment of each such third party financial institution shall be in an amount equal to or greater than $10,000,000.
The Agent shall notify the Company and the Banks on or before the Domestic Business Day immediately prior to the proposed effective date of the amount of each Proposed Increase Bank's incremental and aggregate commitment and each Proposed New Bank's Commitment (the "Effective Commitment Amount") and the amount of the Aggregate Commitment, which amount shall be effective on the following Domestic Business Day.
Each Proposed Increase Bank and Proposed New Bank, and the allocation of the proposed increase in the Aggregate Commitment, shall be subject to the consent of the Agent, the Swingline Lender and the Issuing Bank (which consent shall not be unreasonably withheld).