Common use of Increase in Revolving Commitments Clause in Contracts

Increase in Revolving Commitments. (a) From time to time on and after the Effective Date and prior to the date of termination of the Revolving Commitments, the Company may, upon at least 30 days notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Lenders), propose to increase the aggregate amount of the Revolving Commitments by an amount which (i) is not less than $15,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof, with respect to any such request and (ii) when aggregated with all prior and concurrent increases in the Revolving Commitments pursuant to this Section 2.23, is not in excess of $185,000,000, provided that at no time shall the aggregate Revolving Commitments exceed $650,000,000. The Company may increase the aggregate amount of the Revolving Commitments by (x) having another lender or lenders (each, an “Additional Lender”) become party to this Agreement, (y) agreeing with any Lender (with the consent of such Lender in its sole discretion) to increase its Revolving Commitment hereunder (each, an “Increasing Lender”) or (z) a combination of the procedures described in clauses (x) and (y) of this sentence; provided that no Lender shall be obligated to increase its Revolving Commitment without its consent.

Appears in 2 contracts

Samples: Credit Agreement (Valspar Corp), Credit Agreement (Valspar Corp)

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Increase in Revolving Commitments. (a) From time to time on and after the Effective Closing Date and prior to the date of termination of the Revolving CommitmentsTermination Date but not more than 2 times during any 12-month period, the Company Borrower may, upon at least 30 days notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Lenders), propose to increase the aggregate amount of the Revolving Commitments by an amount which (i) is not less than $15,000,000 10,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof, with respect to any such request request, and (ii) when aggregated with all prior and concurrent increases in the Revolving Commitments pursuant to this Section 2.232.21, is not in excess of $185,000,000, 270,000,000; provided that at no time shall the aggregate Total Revolving Commitments exceed $650,000,0001,000,000,000. The Company Borrower may increase the aggregate amount of the Revolving Commitments by (x) having another lender or lenders (each, an “Additional Lender”) become party to this Agreement, (y) agreeing with any Lender (with the consent of such Lender in its sole discretion) to increase its Revolving Commitment hereunder (each, an “Increasing Lender”) or (z) a combination of the procedures described in clauses (x) and (y) of this sentence; provided that no Lender shall be obligated to increase its Revolving Commitment without its consent.

Appears in 2 contracts

Samples: Second Extension Agreement (Westar Energy Inc /Ks), Credit Agreement (Westar Energy Inc /Ks)

Increase in Revolving Commitments. (a) From time to time on and after the Effective Closing Date and prior to the date of termination of the Revolving CommitmentsTermination Date but not more than 2 times during any 12-month period, the Company Borrower may, upon at least 30 days notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Lenders), propose to increase the aggregate amount of the Revolving Commitments by an amount which (i) is not less than $15,000,000 10,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof, with respect to any such request request, and (ii) when aggregated with all prior and concurrent increases in the Revolving Commitments pursuant to this Section 2.232.21, is not in excess of $185,000,000, 130,000,000; provided that at no time shall the aggregate Total Revolving Commitments exceed $650,000,000400,000,000. The Company Borrower may increase the aggregate amount of the Revolving Commitments by (x) having another lender or lenders (each, an “Additional Lender”) become party to this Agreement, (y) agreeing with any Lender (with the consent of such Lender in its sole discretion) to increase its Revolving Commitment hereunder (each, an “Increasing Lender”) or (z) a combination of the procedures described in clauses (x) and (y) of this sentence; provided that no Lender shall be obligated to increase its Revolving Commitment without its consent.

Appears in 1 contract

Samples: Credit Agreement (Westar Energy Inc /Ks)

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Increase in Revolving Commitments. (a) From time to time on and after the ClosingFirst Amendment Effective Date and prior to the date of termination of the Revolving CommitmentsTermination Date but not more than 2 times during any 12-month period, the Company Borrower may, upon at least 30 days notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Lenders), propose to increase the aggregate amount of the Revolving Commitments by an amount which (i) is not less than $15,000,000 10,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof, with respect to any such request request, and (ii) when aggregated with all prior and concurrent increases in the Revolving Commitments pursuant to this Section 2.232.21, is not in excess of $185,000,000, 130,000,000; provided that at no time shall the aggregate Total Revolving Commitments exceed $650,000,000400,000,000. The Company Borrower may increase the aggregate amount of the Revolving Commitments by (x) having another lender or lenders (each, an “Additional Lender”) become party to this Agreement, (y) agreeing with any Lender (with the consent of such Lender in its sole discretion) to increase its Revolving Commitment hereunder (each, an “Increasing Lender”) or (z) a combination of the procedures described in clauses (x) and (y) of this sentence; provided that no Lender shall be obligated to increase its Revolving Commitment without its consent.

Appears in 1 contract

Samples: Credit Agreement (Westar Energy Inc /Ks)

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