Additional Loan Commitments Sample Clauses

Additional Loan Commitments. (a) Borrower may, from time to time, up to a maximum of three (3) requests, request the Lenders to increase their Revolving Commitments, so as to increase the Revolving Commitment Amount to an amount no greater than the sum of (1) the Accordion Amount plus (2) $150,000,000. The increase in the Revolving Commitment Amount pursuant to any such particular request shall be at least an amount (the “Minimum Request”) equal to the lesser of (x) $10,000,000 or (y) the Accordion Amount less all previous increases in the Revolving Commitment Amount pursuant to this Section. Borrower shall make each such request by giving notice to Agent no later than forty-five (45) days prior to the Accordion Expiration Date, which notice shall set forth the amount (which shall be no less than the Minimum Request) of the requested increase in the Revolving Commitment Amount (the “Requested Increase”) and such other details with respect to such increase as Agent shall reasonably request. Agent will use commercially reasonable efforts, with the assistance of Borrower, to arrange a syndicate of Lenders with Revolving Commitments (including the then-existing Revolving Commitments) aggregating the then existing Revolving Commitment Amount plus the Requested Increase. Upon receipt of notice as aforesaid from Borrower, Agent shall promptly send a copy of such notice to each Lender and shall request that each Lender increase its Revolving Commitment by an amount equal to its Commitment Percentage of the Requested Increase (the “First Solicitation”). Each Lender shall have the right, but not the obligation, to increase its Revolving Commitment by an amount equal to its Commitment Percentage of the Requested Increase, and shall have a period of fifteen (15) days from the First Solicitation to notify Agent whether or not such Lender elects so to increase its Revolving Commitment. Any Lender that fails to respond to the First Solicitation in writing within such fifteen (15)-day period will be deemed to have elected not to increase its Revolving Commitment. If all Lenders elect to increase their respective Revolving Commitments by amounts equal to their respective Commitment Percentages of the Requested Increase, Agent shall so notify Borrower, Agent and each of the Lenders, and Borrower shall proceed in accordance with Section 3.6(b) below. If any Lender (any such Lender, a “Declining Bank”) shall not elect or shall be deemed to have elected not to increase its Revolving Commitment as aforesai...
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Additional Loan Commitments. (a) At any time on or after the Effective Date, so long as no Default or Event of Default has occurred and is continuing, the Borrower may, upon five (5) Business Days' prior written notice to the Administrative Agent, request on one or more occasions that the Total Revolving Loan Commitment be increased by, in each such case, not less than $5,000,000 up to an aggregate amount of $25,000,000; provided that the Total Revolving Loan Commitment, after giving effect to all such increases, shall not exceed $100,000,000; and provided that none of the Revolving Loan Banks as of the date of such request shall be under any obligation to increase its Revolving Loan Commitment. Such notice shall specify (i) the amount by which the Total Revolving Loan Commitment is requested to increase, (ii) the effective date of such requested increase, which date shall not be less than five (5) Business Days nor more than 60 days following the date of such written notice, (iii) the name and contact information of the New Bank or New Banks (which may include one or more existing Banks) the Borrower is requesting provide such increase to the Total Revolving Loan Commitment, and (iv) contain a certification from an Authorized Officer of the Borrower stating that the conditions precedent to all Credit Events in Section 6.01 have been met as of the date of such notice.
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Additional Loan Commitments. (a) Provided that no Default of Event of Default shall have occurred and be continuing, Borrower shall have the option from time to time, by giving written notice (an “Increase Notice”), to the Administrative Agent on or before the Maturity Date subject to the terms and conditions set forth in this Agreement, to increase the Total Commitments by an amount up to $45,000,000 (the amount of the requested increase to be set forth in the Increase Notice) (which, assuming no previous reduction in the Commitments, would result in a maximum Total Commitment of $60,000,000). The increase in the Total Commitment pursuant to any such particular request shall be at least in the Minimum Amount but in no event greater than $45,000,000 less any previous increase in the Total Commitment pursuant to this Section and less any reduction pursuant to Section 2.5 (a “Requested Increase”). The Increase Notice shall contain such other details with respect to such Requested Increase as the Administrative Agent shall reasonably request.
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Additional Loan Commitments. (a) So long as no Event of Default exists, the Total Loan Commitment may be increased in one or more increments by an aggregate amount of up to $100,000,000 for a maximum aggregate Total Loan Commitment not to exceed $650,000,000, as provided in this Section. No Bank shall have any obligation to increase its Loan Commitment and the approval of an additional Property by a Bank shall not constitute an agreement by such Bank to increase its Loan Commitment. The initial increase in the Total Loan Commitment and, to the extent required to satisfy the conditions in subparagraph (b) of this Section 2.19, subsequent increases shall be conditioned on a New Borrower causing the addition of one or more Properties (as required) in accordance with Section 12.06 as security for the payment and performance of New Borrower’s Obligations, as the case may be. Prior to any such increase in the Total Loan Commitment, Borrower shall have notified Administrative Agent and the Banks of the Sublimits allocable to such New Borrower (and any changes to the Sublimits with respect to any existing Borrowers). The proposed Sublimits for the New Borrower (and any existing Borrower) must satisfy the requirements of Section 2.01(f).
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Additional Loan Commitments. (a) On such date (the “Incremental Trigger Date”) as the Administrative Agent shall receive a Compliance Certificate from the Borrower demonstrating that the Total Leverage Ratio has been less than 3.75:1.00 for two consecutive quarters (as reflected in the two most recently delivered Compliance Certificates), commitments for a new term loan tranche (the “New Term Loan Commitment”) shall automatically be provided in an amount equal to the full amount of the Second Lien Loans then outstanding (but in no event greater than $10,000,000), and the additional term loans (the “New Term Loans”) to be made in connection therewith shall be used solely for the purpose of discharging the Second Lien Loans in full.
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Additional Loan Commitments. (a) Subject to and upon the terms and conditions set forth in this Agreement (including the terms and conditions of Section 5.05 hereof), each Lender severally agrees, upon the Borrower's request, to advance to the Borrower, from time to time during the Additional Loan Period, Additional Loans in an aggregate principal amount outstanding at any one time not to exceed such Lender's Additional Loan Commitment as in effect at such time; provided, however, that the Lenders shall not be obligated hereunder to make Additional Loans at any time if the sum of the aggregate principal balance of the Additional Loans then outstanding plus the aggregate principal balance of the Revolving Loans outstanding plus the aggregate Stated Amount of all Letters of Credit then outstanding plus the aggregate principal balance of all Reimbursement Obligations then outstanding exceeds, or would exceed with the making of any such Additional Loan, the Borrowing Base then in effect and provided, further however that no Lender shall be obligated hereunder to make Additional Loans in excess of such Lender's Additional Loan Commitment. The Borrower shall be entitled to borrow, prepay and reborrow Additional Loans from time to time during the Additional Loan Period in accordance with the provisions of this Agreement.
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Additional Loan Commitments. (a) So long as no Event of Default exists, the Total Loan Commitment may be increased in one or more increments by an aggregate amount of up to $300,000,000 for a maximum aggregate Total Loan Commitment not to exceed $650,000,000, as provided in this Section. No Bank shall have any obligation to increase its Loan Commitment and the approval of an additional Property by a Bank shall not constitute an agreement by such Bank to increase its Loan Commitment. The initial increase in the Total Loan Commitment and, to the extent required to satisfy the conditions in subparagraph (b) of this Section 2.19, subsequent increases shall be conditioned on Borrower’s addition of one or more Properties (as required) in accordance with Section 12.06 as security for the payment and performance of the Obligations.
Sample 1
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Additional Loan Commitments. (a) Borrower may, from time to time, up to a maximum of three (3) requests, request the Banks to increase their Loan Commitments, so as to increase the Total Loan Commitment to an amount no greater than the sum of (1) the Accordion Amount plus (2) $650,000,000 less (3) the amount of any reduction of the Total Loan Commitment pursuant to Section 2.10. The increase in the Total Loan Commitment pursuant to any such particular request shall be at least an amount (the “Minimum Request”) equal to the lesser of (x) $50,000,000 or (y) the Accordion Amount less all previous increases in the Total Loan Commitment pursuant to this Section. Borrower shall make each such request by giving notice to Syndication Agent no later than forty-five (45) days prior to the date (the “Syndication Expiration Date”) that is thirty-nine (39) months after the Closing Date, which notice shall set forth the amount (which shall be no less than the Minimum Request) of the requested increase in the Total Loan Commitment (the “Requested Increase”) and such other details with respect to such increase as Syndication Agent shall reasonably
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Additional Loan Commitments. (a) Provided that no Default or Event of Default shall have occurred and be continuing, Borrower shall have the option from time to time, by giving written notice to the Administrative Agent on or before the Maturity Date (“Increase Notice”), subject to the terms and conditions set forth in this Agreement, to increase the Total Commitments (i) without the prior consent of Lenders by an amount up to USD$25,000,000 (which, assuming no previous reduction in the Commitments, would result in a maximum Total Commitment of USD$75,000,000) and (ii) thereafter, with the consent of all the Lenders, by an additional amount up to USD$50,000,000 (which assuming no previous reduction in the Commitments, would result in a maximum Total Commitment of USD$125,000,000). The amount of the requested increase is to be set forth in the Increase Notice. The increase in the Total Commitment pursuant to any such particular request shall be at least in the Minimum Amount but in no event greater than the amounts set forth 2.12 (a)(i) or 2.12(a)(ii),as the case may be, less any previous increase in the Total Commitment pursuant to this Section and less any reduction pursuant to Section 2.5 (“Requested Increase”). The Increase Notice shall contain such other details with respect to such Requested Increase as the Administrative Agent shall reasonably request. The execution and delivery of the Increase Notice by Borrower shall constitute a representation and warranty by Borrower that all the conditions set forth in this Section 2.12 shall have been satisfied on the date of such Increase Notice. Administrative Agent will use its best efforts, with the assistance of Borrower, to arrange with Lenders or new lenders for Commitments (including the then-existing Commitments) aggregating the-existing Total Commitment plus the Requested Increase.
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Related to Additional Loan Commitments

  • Term Loan Commitments Subject to the terms and conditions hereof, and relying upon the representations and warranties herein set forth, each Lender severally agrees to make a term loan (the “Term Loan”) to the Borrower on the Closing Date in such principal amount as the Borrower shall request up to, but not exceeding such Lender’s Term Loan Commitment.

  • Term Loan Commitment As to each Term Loan Lender, the amount equal to such Term Loan Lender’s Term Loan Commitment Percentage of the aggregate principal amount of the Term Loans from time to time outstanding to the Borrower.

  • Revolving Loan Commitment Each Lender with a Revolving Loan Commitment agrees to make loans on a revolving basis (“Revolving Loans”) from time to time until the Termination Date in such Lender’s Pro Rata Share of such aggregate amounts as the Company may request from all Lenders; provided that the Revolving Outstandings will not at any time exceed Revolving Loan Availability.

  • Loan Commitments Subject to the terms and conditions hereof,

  • Loan Commitment Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Company herein set forth, the Lender hereby agrees to lend to the Company on the Closing Date and thereafter up to $16,000,000 in the aggregate (the "Loan") consisting of $8,000,000 of 7-year Tranche advances and $8,000,000 of 10-year Tranche advances. The Lender's commitment to make the Loan to the Company pursuant to this Section 2.1 is herein called the "Loan Commitment."

  • Incremental Term Loan Commitments (a) Lead Borrower may at any time and from time to time request that one or more Lenders (or one or more Eligible Transferees who will become Lenders) provide Incremental Term Loan Commitments to the Borrowers and, subject to the terms and conditions contained in this Agreement and in the relevant Incremental Term Loan Amendment, make Incremental Term Loans pursuant thereto; it being understood and agreed, however, that (i) no Lender shall be obligated to provide an Incremental Term Loan Commitment as a result of any such request by Lead Borrower, (ii) any Lender (including any Eligible Transferee who will become a Lender) may so provide an Incremental Term Loan Commitment without the consent of any other Lender, (iii) each Tranche of Incremental Term Loan Commitments shall be denominated in U.S. Dollars, (iv) the amount of Incremental Term Loan Commitments made available pursuant to a given Incremental Term Loan Amendment shall be in a minimum aggregate amount for all Lenders which provide an Incremental Term Loan Commitment thereunder (including Eligible Transferees who will become Lenders) of at least $25,000,000, (v) the aggregate principal amount of any Incremental Term Loans on the date of the incurrence thereof shall not exceed, when taken together with any incurrence of Permitted Pari Passu Notes or Permitted Junior Debt pursuant to Section 10.04(xxvii)(A)(1) on such date, (x) the then-remaining Fixed Dollar Incremental Amount as of the date of incurrence plus (y) subject to the satisfaction of the applicable Incurrence-Based Incremental Facility Test, any Incurrence-Based Incremental Amount that may be incurred thereunder on such date, (vi) the proceeds of all Incremental Term Loans incurred by the Borrowers may be used for any purpose not prohibited under this Agreement, (vii) Lead Borrower shall specifically designate, in consultation with the Administrative Agent, the Tranche of the Incremental Term Loan Commitments being provided thereunder (which Tranche shall be a new Tranche (i.e., not the same as any existing Tranche of Incremental Term Loans, Incremental Term Loan Commitments or other Term Loans), unless the requirements of Section 2.15(c) are satisfied), which designation shall be set forth in the applicable Incremental Term Loan Amendment, (viii) if to be incurred as a new Tranche of Incremental Term Loans, such Incremental Term Loans shall have the same terms as each other Tranche of Term Loans as in effect immediately prior to the effectiveness of the relevant Incremental Term Loan Agreement, except as to purpose (which is subject to the requirements of the preceding clause (vi)) and optional prepayment provisions and mandatory prepayment provisions (which are governed by Section 5.02; provided that each new Tranche of Incremental Term Loans shall be entitled to share in mandatory prepayments on a ratable basis with the other Tranches of Term Loans (unless the holders of the Incremental Term Loans of any Tranche agree to take a lesser share of any such prepayments)); provided, however, that (I) the maturity and amortization of such Tranche of Incremental Term Loans may differ, so long as such Tranche of Incremental Term Loans shall have (a) a Maturity Date of no earlier than the Latest Maturity Date as of the date such Indebtedness was incurred and (b) a Weighted Average Life to Maturity of no less than the Weighted Average Life to Maturity as then in effect for the Tranche of then outstanding Term Loans with the then longest Weighted Average Life to Maturity (in each case of the foregoing clauses (a) and (b), excluding for this purpose, interim loan financings that provide for automatic rollover, subject to customary conditions, to Indebtedness otherwise meeting the requirements of this clause (I)), (II) the Effective Yield applicable to such Tranche of Incremental Term Loans may differ from that applicable to the then outstanding Tranches of Term Loans, with the Effective Yield applicable thereto to be specified in the respective Incremental Term Loan Amendment; provided, however, that if the Effective Yield for any such Incremental Term Loans incurred prior the date that is six (6) months after the First Restatement Effective Date, exceeds the Effective Yield then applicable to any then outstanding Initial Term Loans by more than 0.75% per annum, the Applicable Margins for all then outstanding Initial Term Loans shall be increased as of such date in accordance with the requirements of the definition of “Applicable Margin” and (III) such Tranche of Incremental Term Loans may have other terms (other than those described in preceding clauses (I) and (II)) that may differ from those of other Tranches of Term Loans, including, without limitation, as to the application of optional or voluntary prepayments among the Incremental Term Loans and the existing Term Loans, in each case, taken as a whole, that are not materially more favorable to the lenders providing such Incremental Term Loans than the provisions applicable to the existing Term Loans or as are otherwise reasonably satisfactory to the Administrative Agent, (ix) all Incremental Term Loans (and all interest, fees and other amounts payable thereon) incurred by the Borrowers shall be Obligations of the Borrowers under this Agreement and the other applicable Credit Documents and shall be secured by the Security Agreements, and guaranteed under each relevant Guaranty, on a pari passu basis with all other Term Loans secured by the Security Agreement and guaranteed under each such Guaranty, (x) each Lender (including any Eligible Transferee who will become a Lender) agreeing to provide an Incremental Term Loan Commitment pursuant to an Incremental Term Loan Amendment shall, subject to the satisfaction of the relevant conditions set forth in this Agreement, make Incremental Term Loans under the Tranche specified in such Incremental Term Loan Amendment as provided in Section 2.01(b) and such Term Loans shall thereafter be deemed to be Incremental Term Loans under such Tranche for all purposes of this Agreement and the other applicable Credit Documents and (xi) all Incremental Term Loan Commitment Requirements are satisfied.

  • Additional Loans Agent shall not make any Revolving Loans or provide any Letter of Credit Accommodations to any Borrower on behalf of Lenders intentionally and with actual knowledge that such Revolving Loans or Letter of Credit Accommodations would cause the aggregate amount of the total outstanding Revolving Loans and Letter of Credit Accommodations to such Borrower to exceed the Borrowing Base of such Borrower, without the prior consent of all Lenders, except, that, Agent may make such additional Revolving Loans or provide such additional Letter of Credit Accommodations on behalf of Lenders, intentionally and with actual knowledge that such Revolving Loans or Letter of Credit Accommodations will cause the total outstanding Revolving Loans and Letter of Credit Accommodations to such Borrower to exceed the Borrowing Base of such Borrower, as Agent may deem necessary or advisable in its discretion, provided, that: (a) the total principal amount of the additional Revolving Loans or additional Letter of Credit Accommodations to any Borrower which Agent may make or provide after obtaining such actual knowledge that the aggregate principal amount of the Revolving Loans equal or exceed the Borrowing Bases of Borrowers, plus the amount of Special Agent Advances made pursuant to Section 12.11(a)(i) or (ii) hereof then outstanding, shall not exceed the aggregate amount equal to ten (10%) percent of the Maximum Credit, (b) no such additional Revolving Loan or Letter of Credit Accommodation shall be outstanding more than ninety (90) days after the date such additional Revolving Loan or Letter of Credit Accommodation is made or issued (as the case may be), except as the Required Lenders may otherwise agree and (c) the total outstanding principal amount of Loans, Letter of Credit Accommodations and Special Agent Advances made pursuant to Section 12.11(a)(i) and (ii) hereof shall not exceed the Maximum Credit. Each Lender shall be obligated to pay Agent the amount of its Pro Rata Share of any such additional Revolving Loans or Letter of Credit Accommodations.

  • Swing Loan Commitment (a) Subject to the terms and conditions set forth in this Agreement, the Swing Loan Lender agrees to lend to the Borrower (the “Swing Loans”), and the Borrower may borrow (and repay and reborrow), in Dollars only, from time to time between the Closing Date and the date which is five (5) Business Days prior to the Revolving Credit Maturity Date upon notice by the Borrower to the Swing Loan Lender given in accordance with this §2.5, such sums as are requested by the Borrower for the purposes set forth in §2.9 in an aggregate principal amount at any one time outstanding not exceeding the Swing Loan Commitment; provided that in all events (i) no Default or Event of Default shall have occurred and be continuing; (ii) the outstanding principal amount of the Revolving Credit Loans and Swing Loans (after giving effect to all amounts requested) plus the Letter of Credit Liabilities shall not at any time exceed the Total Revolving Credit Commitment, and (iii) the sum of (A) the outstanding principal amount of the Revolving Credit Loans, Term Loans and Swing Loans, plus the Letter of Credit Liabilities and (B) the aggregate amount of all other Unsecured Indebtedness of REIT and its Subsidiaries shall not cause a violation of the covenants set forth in §§9.3, or 9.4. Notwithstanding anything to the contrary contained in this §2.5, the Swing Loan Lender shall not be obligated to make any Swing Loan at a time when any other Revolving Credit Lender is a Defaulting Lender, unless the Swing Loan Lender is satisfied that the participation therein will otherwise be fully allocated to the Revolving Credit Lenders that are Non-Defaulting Lenders consistent with §2.13(c) and the Defaulting Lender shall not participate therein, except to the extent the Swing Loan Lender has entered into arrangements with the Borrower or such Defaulting Lender that are satisfactory to the Swing Loan Lender in its good faith determination to eliminate the Swing Loan Lender’s Fronting Exposure with respect to any such Defaulting Lender, including the delivery of cash collateral. Swing Loans shall constitute “Revolving Credit Loans” for all purposes hereunder. The funding of a Swing Loan hereunder shall constitute a representation and warranty by the Borrower that all of the conditions set forth in §11 have been satisfied on the date of such funding. The Swing Loan Lender may assume that the conditions in §11 have been satisfied unless the Swing Loan Lender has received written notice from a Revolving Credit Lender that such conditions have not been satisfied. Each Swing Loan shall be due and payable within five (5) Business Days of the date such Swing Loan was provided and the Borrower hereby agrees (to the extent not repaid as contemplated by §2.5(d)) to repay each Swing Loan on or before the date that is five (5) Business Days from the date such Swing Loan was provided. A Swing Loan may not be refinanced with another Swing Loan.

  • Additional Commitments The Parties may negotiate commitments with respect to measures affecting trade in services not subject to scheduling under Article 106 (National Treatment) or Article 107 (Market Access), including those regarding qualifications, standards or licensing matters. Such commitments shall be inscribed in a Party's Schedule.

  • Term Commitments Subject to the terms and conditions hereof, each Term Lender severally agrees to make a term loan (a “Term Loan”) to the Borrower on the Closing Date in an amount not to exceed the amount of the Term Commitment of such Lender. The Term Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections 2.2 and 2.12.

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