Common use of Increase in Aggregate Commitment Clause in Contracts

Increase in Aggregate Commitment. The Borrower shall also have the right from time to time to increase the Aggregate Commitment up to a maximum of $175,000,000 by either adding new entities as Lenders (subject to the Administrative Agent's prior written approval of the identity of such new entities) or obtaining the agreement, which shall be at such Lender's or Lenders' sole discretion, of one or more of the then current Lenders to increase its or their Commitments. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit L attached hereto by the Borrower, the Administrative Agent and the new bank or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new ratable Advances made on such date or purchasing shares of outstanding ratable Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all ratable Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding ratable Advances to achieve such result. In no event shall the Aggregate Commitment exceed $175,000,000 without the approval of all of the Lenders.

Appears in 3 contracts

Samples: Secured Revolving Credit Agreement (Equity Inns Inc), Credit Agreement (Equity Inns Inc), Secured Revolving Credit Agreement (Equity Inns Inc)

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Increase in Aggregate Commitment. The Borrower shall also have the right from time to time to increase the Aggregate Commitment up to a maximum of $175,000,000 400,000,000 by either adding new entities banks as Lenders (subject to the Administrative Agent's prior written approval of the identity of such new entitiesbanks) or obtaining the agreement, which shall be at such Lender's or Lenders' sole discretion, of one or more of the then current Lenders to increase its or their Commitments. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit L attached hereto by the Borrower, the Administrative Agent and the new bank or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new ratable Advances made on such date or purchasing shares of outstanding ratable Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all ratable Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding ratable Advances to achieve such result. In no event will such new or existing Lenders providing the increase be required to fund or purchase a portion of any Competitive Bid Loan or Swingline Loan to comply with this Section on such date. In no event shall the Aggregate Commitment exceed $175,000,000 400,000,000 without the approval of all of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (First Industrial Realty Trust Inc), Revolving Credit Agreement (First Industrial Realty Trust Inc)

Increase in Aggregate Commitment. The Borrower shall also have the right from time to time time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $175,000,000 300,000,000 by either adding new entities lenders as Lenders (subject to the Administrative Agent's ’s prior written approval of the identity of such new entitieslenders) or obtaining the agreement, which shall be at such Lender's ’s or Lenders' sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent any amounts due to it under the Fee Letter and to each lender providing such additional Commitment the up-front fee agreed to by the Borrower. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit L H attached hereto by the Borrower, the Administrative Agent and the new bank lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new ratable Advances made on such date or purchasing shares of outstanding ratable Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all ratable Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding ratable Advances to achieve such result. In no event shall the Aggregate Commitment exceed $175,000,000 300,000,000 without the approval of all of the Lenders.

Appears in 2 contracts

Samples: Credit Agreement (Inland Western Retail Real Estate Trust Inc), Credit Agreement (Inland Western Retail Real Estate Trust Inc)

Increase in Aggregate Commitment. The Borrower shall also have the right from time to time to increase the Aggregate Commitment up to a maximum of $175,000,000 250,000,000 by either adding new entities as Lenders (subject to the Administrative Agent's ’s prior written approval of the identity of such new entities) or obtaining the agreement, which shall be at such Lender's ’s or Lenders' sole discretion, of one or more of the then current Lenders to increase its or their Commitments. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit L attached hereto by the Borrower, the Administrative Agent and the new bank or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new ratable Advances made on such date or purchasing shares of outstanding ratable Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all ratable Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding ratable Advances to achieve such result. In no event shall the Aggregate Commitment exceed $175,000,000 250,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Unsecured Revolving Credit Agreement (Equity Inns Inc)

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Increase in Aggregate Commitment. The Borrower shall also have the right from time to time time, provided no Default or Unmatured Default has occurred and is then continuing, to increase the Aggregate Commitment up to a maximum of $175,000,000 200,000,000 by either adding new entities lenders as Lenders (subject to the Lead Arrangers’ and Administrative Agent's ’s prior written approval of the identity of such new entitieslenders) or obtaining the agreement, which shall be at such Lender's ’s or Lenders' sole discretion, of one or more of the then current Lenders to increase its or their Commitments. The Administrative Agent shall use commercially reasonable efforts to arrange such increased Commitments and the Borrower’s approval of any new lenders shall not be unreasonably withheld or delayed. On the effective date of any such increase, the Borrower shall pay to the Administrative Agent and Syndication Agent any amounts due under the Fee Letters and to each lender providing such additional Commitment the up-front fee agreed to by the Borrower, and a single Advance in the full amount of such increase shall be made. Such increases shall be evidenced by the execution and delivery of an Amendment Regarding Increase in the form of Exhibit L A attached hereto by the Borrower, the Administrative Agent and the new bank lender or existing Lender providing such additional Commitment, a copy of which shall be forwarded to each Lender by the Administrative Agent promptly after execution thereof. On the effective date of each such increase in the Aggregate Commitment, the Borrower and the Administrative Agent shall cause the new or existing Lenders providing such increase, by either funding more than its or their Percentage of new ratable Advances made on such date or purchasing shares of outstanding ratable Loans held by the other Lenders or a combination thereof, to hold its or their Percentage of all ratable Advances outstanding at the close of business on such day. The Lenders agree to cooperate in any required sale and purchase of outstanding ratable Advances to achieve such result. In no event shall the Aggregate Commitment exceed $175,000,000 200,000,000 without the approval of all of the Lenders.

Appears in 1 contract

Samples: Term Loan Agreement (Inland Real Estate Corp)

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