Borrower Request. The Borrower may by written notice to the Administrative Agent elect to request (x) prior to the Maturity Date for the Revolving Facility, an increase to the existing Revolving Commitments (each, an “Incremental Revolving Commitment”) and/or (y) the establishment of one or more new term loan commitments (each, an “Incremental Term Commitment”), by an aggregate amount not in excess of $100,000,000. Each such notice shall specify (i) the date (each, an “Increase Effective Date”) on which the Borrower proposes that the Incremental Commitments shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each Eligible Assignee to whom the Borrower proposes any portion of such Incremental Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the Incremental Commitments may elect or decline, in its sole discretion, to provide such Incremental Commitment. Each Incremental Commitment shall be in an aggregate amount of $5,000,000 or any whole multiple of $5,000,000 in excess thereof (provided that such amount may be less than $5,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Commitments set forth in above), and the Borrower may make a maximum of three (3) such requests pursuant to this Section 2.16.
Appears in 2 contracts
Sources: Credit Agreement (Suncrete, Inc.), Credit Agreement (Concrete Partners Holding, LLC)
Borrower Request. The Borrower Representative may by written notice to the Administrative Agent elect to request (x) prior to the Maturity Date for the Revolving FacilityDate, an increase to the existing Revolving Commitments (each, an “Incremental Revolving Commitment”) and/or (y) the establishment of one or more new term loan commitments (each, an “Incremental Term Commitment”), by an aggregate amount not in excess of $100,000,00050,000,000. Each such notice shall specify (i) the date (each, an “Increase Effective Date”) on which the Borrower Representative proposes that the Incremental Commitments shall be effective, which shall be a date not less than ten fifteen (1015) Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each existing Lender or Eligible Assignee to whom the Borrower Representative proposes any portion of such Incremental Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the Incremental Commitments may elect or decline, in its sole discretion, to provide such Incremental Commitment. Each Incremental Commitment shall be in an aggregate amount of $5,000,000 25,000,000 or any whole multiple of $5,000,000 in excess thereof (provided that such amount may be less than $5,000,000 10,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Commitments set forth in above), and the Borrower may make a maximum of three (3) such requests pursuant to this Section 2.16.
Appears in 2 contracts
Sources: Credit Agreement (Smith & Wesson Brands, Inc.), Credit Agreement (Smith & Wesson Brands, Inc.)
Borrower Request. The Borrower Representative may by written notice to the Administrative Agent elect to request (x) prior to the Maturity Date for the Revolving Facility, an increase to the existing Revolving Commitments (each, an “Incremental Revolving Commitment”) and/or (y) the establishment of one or more new term loan commitments (each, an “Incremental Term Commitment”), by an aggregate amount not in excess of $100,000,00050,000,000. Each such notice shall specify (i) the date (each, an “Increase Effective Date”) on which the Borrower Representative proposes that the Incremental Commitments shall be effective, which shall be a date not less than ten (10) 15 Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each existing Lender or Eligible Assignee to whom the Borrower Representative proposes any portion of such Incremental Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the Incremental Commitments may elect or decline, in its sole discretion, to provide such Incremental Commitment. Each Incremental Commitment shall be in an aggregate amount of $5,000,000 25,000,000 or any whole multiple of $5,000,000 in excess thereof (provided that such amount may be less than $5,000,000 10,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Commitments set forth in above), and the Borrower may make a maximum of three (3) such requests pursuant to this Section 2.16.
Appears in 2 contracts
Sources: Credit Agreement (Smith & Wesson Brands, Inc.), Credit Agreement (Smith & Wesson Brands, Inc.)
Borrower Request. The Borrower ▇▇▇▇▇▇▇▇▇ may by written notice to the Administrative Agent elect to request (x) prior to the Maturity Date for the Revolving FacilityDate, an increase to the existing Revolving Aggregate AC Commitments or the Aggregate USD Commitments (each, an “Incremental Revolving Commitment” or “Incremental Revolving Credit Tranche”) and/or (y) the establishment of one or more new term loan commitments (each, an “Incremental Term Commitment” or “Incremental Term Loan Tranche”), by an aggregate amount not in excess of $100,000,000650,000,000. Each such notice shall specify (i) the date (each, an “Increase Effective Date”) on which the Borrower ▇▇▇▇▇▇▇▇▇ proposes that the Incremental Commitments shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to the Administrative Agent effective and (ii) the identity of each Eligible Assignee to whom the Borrower ▇▇▇▇▇▇▇▇▇ proposes any portion of such Incremental Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the Incremental Commitments may elect or decline, in its sole discretion, to provide such Incremental Commitment. Each Incremental Commitment shall be in an aggregate amount of $5,000,000 20,000,000 or any whole multiple of $5,000,000 1,000,000 in excess thereof (provided that such amount may be less than $5,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Commitments set forth in above), and the Borrower thereof. ▇▇▇▇▇▇▇▇▇ may make a maximum of three (3) such requests pursuant for an Incremental Revolving Commitment or Incremental Term Commitment prior to this Section 2.16the Maturity Date.
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Borrower Request. The Borrower may by written notice to the Administrative Agent elect to request (x) prior to the Maturity Date for the Revolving Credit Facility, an increase to the existing Revolving Commitments (each, an “Incremental Revolving Commitment”) and/or (y) the establishment of one or more new term loan commitments (each, an “Incremental Term Commitment”), by an aggregate amount not in excess of $100,000,000250,000,000. Each such notice shall specify (i) the date (each, an “Increase Effective Date”) on which the Borrower proposes that the Incremental Commitments shall be effective, which shall be a date not less than ten (10) 10 Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each Eligible Assignee to whom the Borrower proposes any portion of such Incremental Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the Incremental Commitments may elect or decline, in its sole discretion, to provide such Incremental Commitment. Each Incremental Commitment shall be in an aggregate amount of $5,000,000 10,000,000 or any whole multiple of $5,000,000 500,000 in excess thereof (provided that such amount may be less than $5,000,000 10,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Commitments set forth in above), and the . The Borrower may make a maximum of three (3) such requests pursuant for an Incremental Revolving Commitment prior to this Section 2.16the Maturity Date.
Appears in 1 contract
Borrower Request. The Borrower may by written notice to the Administrative Agent elect to request (x) prior to the Maturity Date for the Revolving Facility, an increase to the existing Revolving Commitments (each, an “Incremental Revolving Commitment”) and/or (y) the establishment of one or more new term loan commitments (each, an “Incremental Term Commitment”), by an aggregate amount not in excess of the greater of (x) $100,000,000100,000,000 and (y) an amount such that after giving pro forma effect thereto, the Total Secured Net Leverage Ratio is no greater than 2.50 to 1.00 to exceed the Available Incremental Amount. Each such notice shall specify (i) the date (each, an “Increase Effective Date”) on which the Borrower proposes that the Incremental Term Commitments shall be effective, which shall be a date not less than ten (10) 10 Business Days after the date on which such notice is delivered to the Administrative Agent (or such other date as agreed to by the Administrative Agent) and (ii) the identity of each Eligible Assignee to whom the Borrower proposes any portion of such Incremental Term Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the Incremental Term Commitments may elect or decline, in its sole discretion, to provide such Incremental Term Commitment. Each Incremental Term Commitment shall be in an aggregate amount of $5,000,000 10,000,000 or any whole multiple of $5,000,000 500,000 in excess thereof (provided that such amount may be less than $5,000,000 10,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Term Commitments set forth in above), and the Borrower may make a maximum of three (3) such requests pursuant to this Section 2.16.
Appears in 1 contract
Sources: Credit Agreement (Ciena Corp)
Borrower Request. The Borrower may by written notice to the Administrative Agent elect request from time to request (x) time prior to the Maturity Date for the Revolving FacilityTermination Date, an increase to the existing Revolving Commitments (each, an “Incremental Revolving Commitment”) and/or (y) the establishment of one or more new term loan commitments (each, an “Incremental Term Commitment”), by in an aggregate amount not in excess of $100,000,000. Each such notice shall specify (i) the date (each, an “Increase Effective Date”) on which the Borrower proposes that the Incremental Revolving Commitments shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each Eligible Assignee to whom the Borrower proposes any portion of such Incremental Revolving Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the Incremental Revolving Commitments may elect or decline, in its sole discretion, to provide such Incremental Revolving Commitment. Each Incremental Revolving Commitment shall be in an aggregate amount of $5,000,000 10,000,000 or any whole multiple of $5,000,000 500,000 in excess thereof (provided that such amount may be less than $5,000,000 10,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Revolving Commitments set forth in above), and the Borrower may make a maximum of three (3) such requests pursuant to this Section 2.16.
Appears in 1 contract
Sources: Credit Agreement (CBIZ, Inc.)
Borrower Request. The Borrower may by written notice to the Administrative Agent elect request from time to request (x) time prior to the Maturity Date for the Revolving FacilityTermination Date, an increase to the existing Revolving Loan Commitments (each, an “Incremental Revolving Commitment”) and/or (y) the establishment of one or more new term loan commitments (each, an “Incremental Term Commitment”), by in an aggregate amount not in excess of $100,000,000. Each such notice shall specify (i) the date (each, an “Increase Effective Date”) on which the Borrower proposes that the Incremental Revolving Commitments shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each Eligible Assignee to whom the Borrower proposes any portion of such Incremental Revolving Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the Incremental Revolving Commitments may elect or decline, in its sole discretion, to provide such Incremental Revolving Commitment. Each Incremental Revolving Commitment shall be in an aggregate amount of $5,000,000 10,000,000 or any whole multiple of $5,000,000 500,000 in excess thereof (provided that such amount may be less than $5,000,000 10,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Revolving Commitments set forth in above), and the Borrower may make a maximum of three (3) such requests pursuant to this Section 2.16.
Appears in 1 contract
Sources: Credit Agreement (CBIZ, Inc.)
Borrower Request. The Borrower Representative may by written notice to the Administrative Agent elect to request (x) prior to the Maturity Date for the Revolving Facility, an increase to the existing Revolving Commitments (each, an “Incremental Revolving Commitment”) and/or (y) the establishment of one or more new term loan commitments (each, an “Incremental Term Commitment”), by an aggregate amount not in excess of $100,000,00050,000,000. Each such notice shall specify (i) the date (each, an “Increase Effective Date”) on which the Borrower Representative proposes that the Incremental Commitments shall be effective, which shall be a date not less than ten (10) 15 Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each existing Lender or Eligible Assignee to whom the Borrower Representative proposes any portion of such Incremental Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the Incremental Commitments may elect or decline, in its sole discretion, to provide such Incremental Commitment. Each Incremental Commitment shall be in an aggregate amount of $5,000,000 25,000,000 or any whole multiple of $5,000,000 in excess thereof (provided that such amount may be less than $5,000,000 10,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Commitments set forth in above), and the Borrower may make a maximum of three (3) such requests pursuant to this Section 2.16.
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Borrower Request. The Borrower may by written notice to the Administrative Agent elect to request (x) prior to the Maturity Date for the Revolving Credit Facility, an increase to the existing Revolving Credit Commitments (each, an “"Incremental Revolving Commitment”") and/or (y) an increase to the existing Term Facility or the establishment of one or more new term loan commitments commitment (each, an “"Incremental Term Commitment”"), by in an aggregate amount not to exceed $125,000,000, in excess each case from any existing Lender (each of $100,000,000which shall be entitled to agree or decline to participate in its sole discretion) or any Additional Lender. Each such notice pursuant to this Section 2.14(a) shall specify (i) the date (each, an “"Increase Effective Date”") on which the Borrower proposes that the Incremental Commitments shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such notice the Incremental Term Commitment is delivered to the Administrative Agent and drawn in full, (ii) the identity of each Eligible Assignee to whom the Borrower proposes any portion of such Incremental Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the allocations and (iii) whether such Incremental Commitments may elect are Incremental Revolving Commitments or decline, in its sole discretion, to provide such Incremental CommitmentTerm Commitments. Each Incremental Commitment shall be in an aggregate amount of $5,000,000 10,000,000 or any whole multiple of $5,000,000 in excess thereof (provided that such amount may be less than $5,000,000 10,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Commitments set forth in above), and the Borrower may make a maximum of three (3) such requests pursuant to this Section 2.16.
Appears in 1 contract