Increase in the Commitment Sample Clauses
Increase in the Commitment. 3.1 The Borrower may by giving not less than 30 days prior written notice to the Lender request that the Commitment be increased and subject to the provisions of this Clause 3 (Increase in the Commitment), the Commitment shall be increased as follows:
3.1.1 the increased Commitment will be assumed by the Lender confirming in writing by way of a Commitment Increase Confirmation its willingness to increase the Commitment;
3.1.2 the Borrower and the Lender shall assume obligations towards one another and/or acquire rights against one another as the Borrower and the Lender would have assumed and/or acquired had the Lender made the increased Commitment available on the date of this Agreement; and
3.1.3 any increase in the Commitment shall, subject to the conditions set out in Clauses 3.3 to 3.9, take effect on the date specified by the Lender in the duly completed Commitment Increase Confirmation delivered by the Lender to the Borrower (the Increase Effective Date).
3.2 The Borrower may only deliver a notice in terms of Clause 3.1 during the period commencing on the Closing Date and ending on the date falling six months prior to the Maturity Date (such period being the Relevant Period).
3.3 If any conditions are attached to the increase of the Commitment, then the Lender shall notify the Borrower in writing of each such condition and the Borrower shall prior to the Increase Effective Date deliver all relevant documentation and other evidence requested by the Lender (each in form and substance satisfactory to the Lender) including any documents and/or information that may be necessary for the Lender to complete any "know your customer" or other similar checks under all applicable laws and regulations in relation to the assumption of the increased Commitment by the Lender.
3.4 The Lender is under no obligation to agree to any increase of the Commitment and any increase of the Commitment will be made in the Lender's sole discretion and subject to the Lender's internal credit approvals.
3.5 The amount of each requested increase to the Commitment must be an amount which is not less than ZAR50,000,000.
3.6 The aggregate amount of all increases to the Commitment made pursuant to this Clause 3 (Increase in the Commitment) shall not exceed ZAR100,000,000.
3.7 The Borrower may only deliver 2 increase requests during the Relevant Period.
3.8 No increase of the Commitment shall take effect unless and until the fee referred to in Clause 11.2 (Commitment Increase Fee) has be...
Increase in the Commitment. (a) Request for Increase. Provided there exists no Facility Suspension Event, upon notice to the Purchaser, the Seller Representative may from time to time request an increase in the Commitment; provided that (i) any such request for an increase shall be in a minimum amount of $25,000,000, (ii) the Seller Representative may make a maximum of two (2) such requests. At the time of sending such notice, the Seller Representative (in consultation with the Purchaser) shall specify the time period within which the Purchaser is requested to respond (which shall in no event be less than ten (10) Business Days from the date of delivery of such notice to the Purchaser).
Increase in the Commitment. (a) Provided that no Default or Event of Default then exists, Borrower may at any time request in writing that the then effective Commitment be increased to an amount which is not greater than $2,000,000,000 in accordance with the provisions of this Section. Any request under this Section shall be submitted by Borrower to the Banks through the Administrative Agent not less than thirty (30) days prior to the proposed increase, specify the proposed effective date and amount of such increase and be accompanied by a Certificate of a Responsible Official, signed by a Senior Officer of Borrower, stating that no Default or Event of Default exists as of the date of the request or will result from the requested increase. Borrower may also specify any fees offered to those Banks which agree to an increase in the amount of their Pro Rata Share of the Commitment (which fees may be variable based upon the amount which any such Bank is willing to assume as an increase to the amount of its Pro Rata Share of the increased Commitment). The consent of the Banks, as such, shall not be required for an increase in the amount of the Commitment pursuant to this Section.
(b) Each Bank may approve or reject Borrower's request in its sole and absolute discretion and, absent an affirmative written response within fifteen (15) days after receipt of Borrower's request, shall be deemed to have rejected Borrower's request. The rejection of Borrower's request by any number of Banks shall not affect Borrower's right to increase the Commitment pursuant to this Section. No Bank which rejects Borrower's request for an increase in the Commitment shall be subject to removal as a Bank.
(c) In responding to Borrower's request, each Bank which is willing to increase the amount of its Pro Rata Share of the increased Commitment shall specify the amount of the proposed increase which it is willing to assume. Each consenting Bank shall be entitled to participate ratably (based on its Pro Rata Share of the Commitment before such increase) in any resulting increase in the Commitment, subject to the right of the Administrative Agent to adjust allocations of the increased Commitment so as to result in the amounts of the Pro Rata Shares of the Banks being in integral multiples of $1,000,000.
(d) If the aggregate principal amount offered to be assumed by the consenting Banks is less than the amount requested by Borrower, Borrower may (i) reject the proposed increase in its entirety, (ii) accept the offered...
Increase in the Commitment. Notwithstanding anything to the contrary -------------------------- contained in Section 2.05(c) of the Credit Agreement, it is acknowledged that each of the conditions set forth therein has been satisfied, that the sixty (60) day period set forth in Section 2.05(c)