Increase in Committed Amount Clause Samples
Increase in Committed Amount. (a) Subject to the terms and conditions set forth herein, the Borrower shall have the right, without the consent of the Lenders but with the prior approval of the Administrative Agent (not to be unreasonably withheld or delayed), to cause from time to time an increase in the Committed Amount (a “Committed Amount Increase”) by adding to this Credit Agreement one or more additional financial institutions that is not already a Lender hereunder and that is reasonably satisfactory to the Administrative Agent (each a “CI Lender”) or by allowing one or more existing Lenders to increase their respective Commitments; provided, however that (i) no Event of Default shall have occurred which is continuing, (ii) no such Committed Amount Increase shall cause the Committed Amount to exceed $1,000,000,000, (iii) no Lender’s Commitment shall be increased without such Lender’s prior written consent (which consent may be given or withheld in such Lender’s sole and absolute discretion) and (iv) if, on the effective date of such increase, any Loans have been funded, then the Borrower shall be obligated to pay any breakage fees or costs in connection with the reallocation of such outstanding Loans.
(b) Any Committed Amount Increase must be requested by written notice from the Borrower to the Administrative Agent (a “Notice of Committed Amount Increase”) in the form of Exhibit 2.08 attached hereto and shall be approved by the Administrative Agent, such consent to not be unreasonably withheld. Each such Notice of Committed Amount Increase shall specify (i) the proposed effective date of such Committed Amount Increase, which date shall be no earlier than five (5) Business Days after receipt by the Administrative Agent of such Notice of Committed Amount Increase, (ii) the amount of the requested Committed Amount Increase (provided that after giving effect to such requested Committed Amount Increase, the Committed Amount does not exceed the amount set forth in subsection (a)(ii) above), (iii) the identity of each CI Lender or Lender that has agreed in writing to increase its Commitment hereunder, and (iv) the amount of the respective Commitments of the then existing Lenders and the CI Lenders from and after the Committed Amount Increase Effective Date (as defined below). The Administrative Agent shall review each Notice of Committed Amount Increase and shall notify the Borrower whether or not the Administrative Agent consents to the proposed Committed Amount Increase. If the Adminis...
Increase in Committed Amount. In the event that the Bank should at any time agree to increase the Committed Amount, the Borrower will either execute a new note for the amount of such increase, or a new note for the aggregate increased Committed Amount; and in either event, the term “Note,” as used herein, shall be deemed to mean and include such new note, as the circumstances shall require.
Increase in Committed Amount. The Borrower shall have the right, upon at least ten (10) Business Days' prior written notice to the Agent, to effectuate a one-time increase of up to $15,000,000 in the Committed Amount, subject, however, to satisfaction of the following conditions precedent:
(1) no Event of Default shall have occurred and be continuing on the date on which such Committed Amount increase is to become effective, and the Total Leverage Ratio as of the most recent fiscal quarter end preceding the date of such increase with respect to which the Agent has received the Required Financial Information is less than or equal to 5.0 to 1.0;