Increase in Revolving Credit Facility Clause Samples
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Increase in Revolving Credit Facility. (a) The Borrower may from time to time, upon written notice by the Borrower to the Administrative Agent specifying the proposed amount thereof, request an increase, from any Lender or any Additional Lender, in any Tranche of Revolving Credit Commitments (each, a “Revolving Facility Increase”) (which shall be on the same terms as, and become part of, the applicable Tranche of Revolving Credit Commitments (except as otherwise provided in clause (f)) by an aggregate principal amount not to exceed, at the time the Revolving Facility Increase becomes effective and assuming any such Revolving Facility Increase is fully drawn, the Incremental Amount; provided that any such request for a Revolving Facility Increase shall be in a minimum amount of the lesser of (x) $5,000,000 and (y) the entire amount of any Revolving Facility Increase that may be requested under this Section 2.14.
(b) Each such notice shall specify the identity of each Lender or other Person that is an Eligible Assignee (each, a “Revolving Facility Increase Lender”) to whom the Borrower proposes any portion of such Revolving Facility Increase be allocated and the proposed amounts of such allocation; provided that (w) any Lender approached to provide all or a portion of the Revolving Facility Increase may elect or decline, in its sole discretion, to increase its applicable Tranche of Revolving Credit Commitments (it being understood that there is no obligation to approach any existing Lenders to provide any portion of the Revolving Facility Increase) and (x) the Administrative Agent, the L/C Issuer and the Swing Line Lender shall have the right to consent (each such consent not to be unreasonably conditioned, withheld or delayed) to such Person’s providing such portion of the Revolving Facility Increase if such consent of the Administrative Agent, the L/C Issuer and the Swing Line Lender would be required under Section 10.07 for an assignment of Revolving Credit Loans or Revolving Credit Commitments to such Person. At the time of sending such notice to any existing Lenders that are approached to provide all or a portion of a Revolving Facility Increase, the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each applicable Lender is requested to respond. Any Revolving Credit Lender not responding within such time period shall be deemed to have declined to increase its applicable Tranche of Revolving Credit Commitment.
(c) The Administrative Agent sha...
Increase in Revolving Credit Facility. The references to “$35,000,000” in Section 2.1 of the Credit Agreement, and in Exhibit A of the Credit Agreement are deleted and are replaced by “$40,000,000.”
Increase in Revolving Credit Facility. (a) Provided that there exists no Event of Default, upon notice to the Administrative Agent, the Borrowers may from time to time, prior to the Latest Maturity Date applicable to any Loan, request one or more increases in the Revolving Credit Facility (any such increase, the “New Revolving Credit Commitments”) by an amount (for all such requests pursuant to this Section 2.14) not exceeding $200,000,000; provided that any such request for an increase shall be in a minimum amount of the lesser of (x) $10,000,000 and (y) the entire remaining amount of increases available under this Section 2.14.
(b) Any proposed increase in the Revolving Credit Facility may be requested from existing Lenders, new prospective Lenders who are Eligible Assignees or a combination thereof, as selected by, and with such allocations of committed amounts as may be determined by the Borrowers in consultation with the Administrative Agent. Any Lender approached to provide all or a portion of such increase may elect or decline, in its sole discretion, to provide such increase.
(c) If the Revolving Credit Facility is increased in accordance with this Section 2.14, the Administrative Agent and the Borrowers shall determine the effective date (the “Revolving Credit Increase Effective Date”) and the final allocation of such increase. On the Revolving Credit Increase Effective Date (i) each of the Revolving Credit Lenders shall assign to each new Revolving Credit Lender (collectively, the “New Revolving Credit Lenders”), and each of the New Revolving Credit Lenders shall purchase from each of the Revolving Credit Lenders, at the principal amount thereof (together with accrued interest), such interests in the Revolving Credit Loans outstanding on such Revolving Credit Increase Effective Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Revolving Credit Loans will be held by existing Revolving Credit Lenders and New Revolving Credit Lenders ratably in accordance with their Revolving Credit Commitments after giving effect to the addition of such New Revolving Credit Commitments to the Revolving Credit Commitments, (ii) each New Revolving Credit Commitment shall be deemed for all purposes a Revolving Credit Commitment and each Loan made thereunder (a “New Revolving Credit Loan”) shall be deemed, for all purposes, a Revolving Credit Loan and (iii) each New Revolving Credit Lender shall become a Lender with respect to the New Revolving Credit ...
Increase in Revolving Credit Facility. (a) Request for Increase Prior to Maturity Date. Prior to the Maturity Date, provided no Default or Event of Default then exists or would arise therefrom, upon notice to the Administrative Agent (which shall promptly notify the Lenders), the Borrowers may from time to time, request an increase in the Total Commitments by an amount (for all such requests) not exceeding $100,000,000; provided that (i) any such request for an increase shall be in a minimum amount of $10,000,000 and (ii) after giving effect to any such increase, the Total Commitments shall not exceed $750,000,000. At the time of sending such notice, the Borrowers (in consultation with the Administrative Agent) shall specify the time period within which each Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Lenders).
Increase in Revolving Credit Facility. The reference to “$40,000,000” in Section 2.1 of the Credit Agreement is hereby deleted in its entirety and is hereby replaced with “$70,000,000.”
Increase in Revolving Credit Facility. The references to “$20,000,000” in Section 2.1 of the Credit Agreement and in Section 2.2(a) of the Credit Agreement are deleted and are replaced by “$60,000,000”.
Increase in Revolving Credit Facility. Section 2.15 of the Credit Agreement is hereby deleted in its entirety and replaced with “[Intentionally Omitted]”.
Increase in Revolving Credit Facility. (a) Each Increasing Lender hereby agrees that on the Revolving Credit Increase Effective Date, the Revolving Credit Commitment of such Increasing Lender shall be increased by an amount equal to the amount set forth opposite such Increasing Lender’s name under the column “Incremental Revolving Credit Commitment” in Schedule A to this Amendment.
(b) On the Revolving Credit Increase Effective Date, the section in Schedule 2.01 of the Credit Agreement under the caption “Revolving Credit Commitments” shall be deleted and replaced in its entirety with Schedule A to this Amendment.
(c) The Revolving Credit Increase Effective Date for the Incremental Revolving Credit Commitment shall be the date on which the conditions precedent set forth in Section 5 hereto have been satisfied, as noticed by the Administrative Agent to the Increasing Lenders and the Borrower.
(d) Section 1.01 of the Credit Agreement is amended by adding the following definitions in the appropriate alphabetical order:
Increase in Revolving Credit Facility. (a) Increase. Once the maximum permitted Consolidated Leverage Ratio covenant level as set forth in Section 7.01(a) has been reduced to 4.50:1.00 or less (i.e., on and after December 31, 2010) and the maximum permitted Consolidated Senior Secured Leverage Ratio covenant level as set forth in Section 7.01(c) has been reduced to 2.50:1.00 or less (i.e., on and after December 31, 2010), provided there exists no Default, upon notice to the Administrative Agent, the U.S. Borrower may from time to time for the first five (5) years after the Closing Date, increase the Revolving Credit Facility by an amount (for all such requests) not exceeding $25,000,000 such that the maximum amount of Revolving Credit Facility shall at no time exceed $175,000,000; provided that any such increase shall be in a minimum amount of $10,000,000 and in a whole multiple of $1,000,000 in excess thereof.
Increase in Revolving Credit Facility. (a) Each Increase Lender hereby agrees to increase its existing Revolving Commitment by the amount set forth opposite such Increase Lender’s name in the table below: Increase Lender Amount of Revolving Commitment Provided in Connection with the Increase Bank of America, N.A. $ 65,000,000.00 JPMorgan Chase Bank, N.A. $ 65,000,000.00 PNC Bank, National Association $ 115,000,000.00 U.S. Bank National Association $ 65,000,000.00 ING Bank N.V., Dublin Branch $ 40,000,000.00 TD Bank, N.A. $ 40,000,000.00 Truist Bank $ 40,000,000.00 Associated Bank, N.A. $ 20,000,000.00 Total: $ 450,000,000.00
(b) The Revolving Credit Increase Effective Date for the Increase is the Second Amendment Effective Date.
(c) In connection with the Increase:
(i) The last sentence of the definition of “Aggregate Revolving Commitment” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows: The aggregate principal amount of the Aggregate Revolving Commitment in effect on the Second Amendment Effective Date is ONE BILLION FIVE HUNDRED FIFTY MILLION DOLLARS ($1,550,000,000).
(ii) The last sentence of the definition of “Applicable Percentage” in Section 1.01 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows: On the Effective Date, the initial Applicable Percentage of each Lender in respect of each facility is set forth opposite the name of such Lender on Schedule 2.01 (as in effect on the Effective Date), or in the applicable Add-On Term Joinder Agreement, lender joinder agreement or Assignment and Assumption, in each case, pursuant to which such Lender becomes a party hereto, as applicable; and, on the Second Amendment Effective Date, after giving effect to the 2024 Increase, the Applicable Percentage of each Revolving Lender in respect of the Revolving Credit Facility is set forth opposite the name of such Revolving Lender on Schedule 2.01 (as in effect on the Second Amendment Effective Date).
(iii) The definition of “Incremental Amount” in Section 1.01 of the Existing Credit Agreement is hereby amended to add a new sentence at the end thereof to read as follows: As of the Second Amendment Effective Date, after giving effect to the 2024 Increase, the Incremental Amount shall be equal to $100,000,000.
(iv) Section 1.01 of the Existing Credit Agreement is hereby amended to add the following new defined terms in the appropriate alphabetical order: