Common use of Increase of Commitments; Additional Lenders Clause in Contracts

Increase of Commitments; Additional Lenders. (a) So long as no Default or Event of Default has occurred and is continuing, from time to time after the Restatement Effective Date, the Borrowers may, upon at least ten days’ written notice (or such shorter period of time as the Administrative Agent may agree to in its sole discretion) to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate Revolving Commitments (an “Incremental Revolving Commitment” or an “Incremental Facility”); provided that the aggregate amount of all Incremental Revolving Commitments shall not exceed $50,000,000 in the aggregate over the term of this Agreement. No Lender shall have any obligation to extend any Incremental Facility.

Appears in 3 contracts

Samples: Credit Agreement (Fortegra Group, LLC), Credit Agreement (Fortegra Group, LLC), Credit Agreement (Tiptree Inc.)

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Increase of Commitments; Additional Lenders. (a) So long as no Default or Event of Default has occurred and is continuing, from time to time after the Restatement Effective Closing Date, the Borrowers either Borrower may, upon at least ten days’ written notice (or such shorter period of time as the Administrative Agent may agree to in its sole discretion) to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate SBAC Revolving Commitments or the Aggregate SBF Revolving Commitments (each, an “Incremental Revolving Commitment” or an “Incremental Facility”); provided that the aggregate amount of all Incremental Revolving Commitments shall not exceed $50,000,000 in the aggregate over the term of this Agreement. No Lender shall have any obligation to extend any Incremental Facility.

Appears in 2 contracts

Samples: Credit Agreement (Tiptree Inc.), Credit Agreement (Fortegra Group, Inc)

Increase of Commitments; Additional Lenders. (a) So long as no Default or Event of Default has occurred and is continuing, from time to time after the Restatement Effective Closing Date, the Borrowers either Borrower may, upon at least ten days’ written notice (or such shorter period of time as the Administrative Agent may agree to in its sole discretion) to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate SBAC Revolving Commitments or the Aggregate SBF Revolving Commitments (each, an “Incremental Revolving Commitment” or an “Incremental Facility”); provided that the aggregate amount of all Incremental Revolving Commitments shall not exceed $50,000,000 25,000,000 in the aggregate over the term of this Agreement. No Lender shall have any obligation to extend any Incremental Facility.

Appears in 2 contracts

Samples: Credit Agreement (Tiptree Inc.), Credit Agreement (Tiptree Inc.)

Increase of Commitments; Additional Lenders. (ac) So long as no Default or Event of Default has occurred and is continuing, from time to time after the Restatement Effective Date, the Borrowers may, upon at least ten (10) days’ written notice (or such shorter period of time as the Administrative Agent may agree to in its sole discretion) to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate U.S. Revolving Commitments and/or the Aggregate Global Revolving Commitments (an “Incremental Revolving Commitment” or an “Incremental Facility”); provided that the aggregate amount of all Incremental Revolving Commitments shall not exceed $50,000,000 100,000,000 in the aggregate over the term of this Agreement. No Lender shall have any obligation to extend any Incremental Facility.

Appears in 1 contract

Samples: Credit Agreement (Tiptree Inc.)

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Increase of Commitments; Additional Lenders. (a) So long as no Default or Event of Default has occurred and is continuing, from time to time after the Restatement Effective Date, the Borrowers may, upon at least ten (10) days’ written notice (or such shorter period of time as the Administrative Agent may agree to in its sole discretion) to the Administrative Agent (who shall promptly provide a copy of such notice to each Lender), propose to increase the Aggregate U.S. Revolving Commitments and/or the Aggregate Global Revolving Commitments (an “Incremental Revolving Commitment” or an “Incremental Facility”); provided that the aggregate amount of all Incremental Revolving Commitments shall not exceed $50,000,000 100,000,000 in the aggregate over the term of this Agreement. No Lender shall have any obligation to extend any Incremental Facility.

Appears in 1 contract

Samples: Credit Agreement (Fortegra Group, Inc)

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