Increase in Revolving Commitment Sample Clauses

Increase in Revolving Commitment. The Borrower shall have the right to request increases in the Aggregate Revolving Commitment by providing written notice to the Administrative Agent, which notice shall be irrevocable once given; provided, however, that after giving effect to any such increases the Aggregate Revolving Commitment shall not exceed One Billion Dollars ($1,000,000,000). Each such increase in the Revolving Commitments must be an aggregate minimum amount of $25,000,000 and integral multiples of $5,000,000 in excess thereof. The Administrative Agent, in consultation with the Borrower, shall manage all aspects of the syndication of such increase in the Revolving Commitments, including decisions as to the selection of the existing Lenders and/or other banks, financial institutions and other institutional lenders to be approached with respect to such increase and the allocations of the increase in the Revolving Commitments among such existing Lenders and/or other banks, financial institutions and other institutional lenders. No Lender shall be obligated in any way whatsoever to increase its Revolving Commitment or provide a new Revolving Commitment, and any new Lender becoming a party to this Agreement in connection with any such requested increase must be an Eligible Assignee. If a new Lender becomes a party to this Agreement, or if any existing Lender is increasing its Revolving Commitment, such Lender shall on the date it becomes a Lender hereunder (or in the case of an existing Lender, increases its Revolving Commitment) (and as a condition thereto) purchase from the other Lenders its Percentage (determined with respect to the Lenders’ respective Revolving Commitments and after giving effect to the increase of Revolving Commitments) of any outstanding Loans, by making available to the Administrative Agent for the account of such other Lenders, in same day funds, an amount equal to the sum of (A) the portion of the outstanding principal amount of such Loans to be purchased by such Lender, plus (B) the aggregate amount of payments previously made by the other Revolving Lenders under Section 3.6 that have not been repaid, plus (C) interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Loans. The Borrower shall pay to the Revolving Lenders amounts payable, if any, to such Revolving Lenders under Section 4.4 as a result of the prepayment of any such Loans. Effecting the increase of the Revolving Commitments under this Section is...
AutoNDA by SimpleDocs
Increase in Revolving Commitment. (a) The Borrower shall have the right to increase the Commitments (each such increase, an “Incremental Revolving Commitment”) by obtaining additional Commitments, either from one or more of the Lenders or another lending institution, provided that (i) any such request for an increase shall be in a minimum amount of $25,000,000, (ii) after giving effect thereto, the sum of the total of the additional Commitments (for all such requests, together with all requests for term loans pursuant to Section 2.24) does not exceed $150,000,000, (iii) the Administrative Agent, the Swingline Lender and Issuing Bank have approved the identity of any such new Lender, such approvals not to be unreasonably withheld, (iv) any such new Lender assumes all of the rights and obligations of a “Lender” hereunder, and (v) the procedures described in this Section 2.23 have been satisfied. Nothing contained in this Section 2.23 shall constitute, or otherwise be deemed to be, a commitment on the part of any Lender to increase its Commitment hereunder at any time.
Increase in Revolving Commitment. Section 2.1.2 is amended by replacing the words “up to an aggregate amount not exceeding $75,000,000 (resulting in a maximum Revolving Commitment of $175,000,000)” in the first sentence with the words “up to an aggregate amount not exceeding $75,000,000 (resulting in a maximum Revolving Commitment of $275,000,000)”.
Increase in Revolving Commitment. Section 3.1.1 of the Loan Agreement is hereby amended by deleting the sentence beginning with the words "The 'Aggregate Revolving Commitment'" in its entirety and replacing it with the following sentence: "The 'Aggregate Revolving Commitment' on any date shall be $65,000,000, or such lesser or greater Dollar amount to which it may have been changed as provided herein."
Increase in Revolving Commitment. (a) Bank of America agrees that its Revolving Commitment is increased by $17.0 million from $25.5 million to $42.5 million.
Increase in Revolving Commitment. Section 6.4 of the Agreement is hereby amended by substituting the following new paragraph (iii) within Section 6.4 in lieu of the existing paragraph (iii):
Increase in Revolving Commitment. The Revolving Commitment may be increased from time to time with the agreement of all Lenders; provided that (i) GRC shall have delivered to the Trustee an Opinion of Counsel, dated as of the effective date of such proposed increase, to the effect that such increase will not adversely affect the conclusions set forth in any prior Opinion of Counsel as to the treatment of Investor Certificates for tax purposes; (ii) both before and after giving effect to such increase, no Actionable Event or Unmatured Actionable Event shall have occurred and be continuing; and (iii) the amount of Revolving Loans any Lender is obligated to make hereunder shall not be increased without the consent of such Lender. GRC shall give S&P notice of any such increase promptly after it shall become effective.
AutoNDA by SimpleDocs
Increase in Revolving Commitment. (a) Prior to the Revolving Termination Date, the Borrower may request an increase to the Total Revolving Commitments (the “Proposed Increase”) by delivering to the Administrative Agent a written notice of a proposed increase stating the date on which the proposed increase is to be effective (the “Increase Effective Date”), provided that (i) each single Proposed Increase shall be in an amount equal to or greater than $25,000,000, (ii) after giving effect to such Proposed Increase, the number of increases made by the Borrower pursuant to this Section 2.2(a) shall not exceed three, (iii) after giving effect to such Proposed Increase, the aggregate amount of all Proposed Increases requested pursuant to this Section 2.2(a) shall not exceed $80,000,000, (iv) the Borrower has not given notice pursuant to Section 2.5 to reduce the amount of the Total Revolving Commitments and (v) each of the conditions precedent set forth in Section 6.2 are satisfied as of the Increase Effective Date.
Increase in Revolving Commitment. On or subsequent to the Closing Date, the Borrower will be able to, at its option, and subject to customary conditions, request an increase in the Revolving Commitment by up to $40,000,000 (not to exceed a total of $150,000,000) by obtaining additional commitments from one or more Lenders or, with the consent of the Administrative Agent, but without the consent of any other Lenders, from other entities. Availability: The Revolving Facility shall be available on a revolving basis during the period commencing on the Closing Date and ending on the third anniversary thereof (the “Revolving Credit Termination Date”).
Increase in Revolving Commitment. The Borrower may on no more than three (3) occasions, upon prior written notice to the Lender, increase the Revolving Commitment by a maximum aggregate amount of all such increases, without regard to any subsequent repayment thereof, of up to TWENTY-FIVE MILLION DOLLARS ($25,000,000) from the Lender; provided, that:
Time is Money Join Law Insider Premium to draft better contracts faster.