Common use of Increase of Aggregate Commitment Clause in Contracts

Increase of Aggregate Commitment. Pursuant to Section 2.02 of the Credit Agreement and upon the effectiveness of this Amendment pursuant to Section 3 below, the Aggregate Commitment is hereby increased from $750,000,000.00 to $1,000,000,000.00. The Commitment of each Lender (including the Lenders who have severally agreed to increase their respective Commitments (each, an “Increasing Lender” and collectively, the “Increasing Lenders”)) is set forth on Schedule 2.01 to the Credit Agreement attached hereto, in each case after giving effect to this Amendment and the increase of the Aggregate Commitment pursuant to this Amendment. The Maturity Date of the respective Commitments of each Lender shall be the “Maturity Date”, as defined in the Credit Agreement after giving effect to this Amendment. For the avoidance of doubt, the amendment of the definition of “Maturity Date” pursuant to this Amendment does not constitute an extension pursuant to Section 2.22 of the Credit Agreement. The requirements of Section 2.02(b) of the Credit Agreement with respect to notices and timing are hereby waived by all parties hereto with respect to the increase described in this Section 2.

Appears in 1 contract

Sources: Commitment Increase Agreement and Amendment No. 2 to Credit Agreement (Diamond Offshore Drilling Inc)

Increase of Aggregate Commitment. Pursuant to Section 2.02 of the Credit Agreement Agreement, as amended by this Amendment, and upon the effectiveness of this Amendment pursuant to Section 3 5 below, the Aggregate Commitment is hereby increased from $750,000,000.00 1,000,000,000.00 to $1,000,000,000.001,500,000,000.00. The Commitment of each Lender (including the Lenders who have severally agreed to increase their respective Commitments (each, an “Increasing Lender” and collectively, the “Increasing Lenders”)) and each New Lender) is set forth on Schedule 2.01 to the Credit Agreement attached hereto, in each case after giving effect to this Amendment and the increase of the Aggregate Commitment pursuant to this Amendment. The Maturity Date of the respective Commitments of each Lender shall be the “Maturity Date”, as defined in the Credit Agreement after giving effect to this Amendment. For the avoidance of doubt, the amendment of the definition of “Maturity Date” pursuant to this Amendment does not constitute an extension pursuant to Section 2.22 of the Credit Agreement. The requirements of Section 2.02(b) of the Credit Agreement with respect to notices and timing are hereby waived by all parties hereto with respect to the increase described in this Section 2.

Appears in 1 contract

Sources: Commitment Increase and Extension Agreement and Amendment No. 3 to Credit Agreement (Diamond Offshore Drilling Inc)