Common use of Increase of Commitments Clause in Contracts

Increase of Commitments. With the prior consent of the Agent, the Borrower shall have the right at any time and from time to time to request increases in the aggregate amount of the Commitments (provided that after giving effect to any increases in the Commitments pursuant to this Section, the aggregate amount of the Commitments may not exceed $225,000,000) by providing written notice to the Agent, which notice shall be irrevocable once given. Each such increase in the Commitments must be in an aggregate minimum amount of $20,000,000 and integral multiples of $5,000,000 in excess thereof; provided, however, the Borrower may not request more than one such increase during any period of twelve consecutive months. No Lender shall be required to increase its Commitment and any new Lender becoming a party to this Agreement in connection with any such requested increase must be an Eligible Assignee. If a new Lender becomes a party to this Agreement, or if any existing Lender agrees to increase its Commitment, such Lender shall on the date it becomes a Lender hereunder (or increases its Commitment, in the case of an existing Lender) (and as a condition thereto) purchase from the other Lenders its Commitment Percentage (or in the case of an existing Lender, the increase in the amount of its Commitment Percentage, in each case as determined after giving effect to the increase of Commitments) of any outstanding Revolving Loans, by making available to the Agent for the account of such other Lenders at the Principal Office, in same day funds, an amount equal to the sum of (A) the portion of the outstanding principal amount of such Revolving Loans to be purchased by such Lender plus (B) the aggregate amount of payments previously made by the other Lenders under Section 2.3.(j) which have not been repaid plus (C) interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Revolving Loans. The Borrower shall pay to the Lenders amounts payable, if any, to such Lenders under Section 5.4. as a result of the prepayment of any such Revolving Loans. No increase of the Commitments may be effected under this Section if (x) a Default or Event of Default shall be in existence on the effective date of such increase or (y) any representation or warranty made or deemed made by the Borrower or any other Loan Party in any Loan Document to which any such Loan Party is a party is not (or would not be) true or correct on the effective date of such increase (except for representations or warranties which expressly relate solely to an earlier date). In connection with any increase in the aggregate amount of the Commitments pursuant to this subsection, (a) any Lender becoming a party hereto shall execute such documents and agreements as the Agent may reasonably request and (b) the Borrower shall make appropriate arrangements so that each new Lender, and any existing Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in the amount of such Lender’s Commitment within 2 Business Days of the effectiveness of the applicable increase in the aggregate amount of Commitments.

Appears in 1 contract

Samples: Credit Agreement (Government Properties Trust Inc)

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Increase of Commitments. With the prior consent of the Agent, the Borrower shall have the right at any time and The Company may from time to time to request increases in the aggregate amount of the Commitments (provided that after giving effect to any increases in the Commitments pursuant to this Sectiontime, the aggregate amount of the Commitments may not exceed $225,000,000) by providing written notice to the Agent, which notice shall request that the aggregate Commitments be irrevocable once givenincreased by an amount that will not result in the aggregate Commitments under this Agreement plus the "Commitments" under the Other Credit Agreement to exceed $1,000,000,000. Each such notice shall set forth the requested amount of the increase in the Commitments must be and the date on which such increase is to become effective. The Company shall have the right, but not the obligation, to arrange for one or more commercial banks or other financial institutions (any such bank or other financial institution being called an "Augmenting Bank"), which may include any Bank, to extend Commitments or increase their existing Commitments in an aggregate minimum amount of $20,000,000 and integral multiples of $5,000,000 in excess thereof; providedup to, howeverbut not greater than, the Borrower may requested increase, provided that each Augmenting Bank, if not request more already a Bank hereunder (i) shall extend a new Commitment of not less than one $10,000,000, (ii) shall execute all such increase during any period of twelve consecutive months. No Lender documentation as the Agent shall specify to evidence its status as a Bank hereunder and (iii) shall be required consented to by the Agent. If (and only if) Banks (including Augmenting Banks) shall have agreed to increase its Commitment and any their aggregate Commitments or to extend new Lender becoming a party to this Agreement Commitments in connection with any such requested increase must be an Eligible Assignee. If a new Lender becomes a party to this Agreement, or if any existing Lender agrees to increase its Commitmentaggregate amount not less than $10,000,000 in the aggregate, such Lender increases and such new Commitments shall become effective on the date it becomes a Lender hereunder (or increases its Commitmentagreed to by the Company, the Augmenting Banks and the Agent. Notwithstanding the foregoing, no increase in the case of an existing Lender) (and as a condition thereto) purchase from the other Lenders its Commitment Percentage aggregate Commitments (or in the case Commitment of an existing Lenderany Bank) shall become effective under this paragraph unless, on the date of such increase, the conditions set forth in Section 4.2 shall be satisfied (with all references in such paragraphs to a Loan being deemed to be references to such increase) and the Agent shall have received a certificate to that effect dated such date and executed by a Responsible Officer of the Company. Upon the effectiveness of any increase pursuant to this Section 2.14 of the aggregate Commitments and any resulting adjustment in the amount Pro Rata Share, the Banks and the Augmenting Banks will purchase from each other and sell to each other outstanding Loans sufficient to cause the outstanding Loans of each Bank and Augmenting Bank to equal its Commitment Percentage, in each case Pro Rata Share (as determined after giving effect to the increase of Commitmentsso adjusted) of any outstanding Revolving Loans, by making available to the Agent for the account of such other Lenders at the Principal Office, in same day funds, an amount equal to the sum of (A) the portion of the outstanding principal amount of such Revolving Loans to be purchased by such Lender plus (B) the aggregate amount of payments previously made by the other Lenders under Section 2.3.(j) which have not been repaid plus (C) interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Revolving Loans. The Borrower Such purchase and sale shall pay be made pursuant to the Lenders amounts payableSection 10.7 except that no minimum amount shall be required, no processing fee shall be charged and, if any, to such Lenders under Section 5.4. any Bank shall suffer a loss or incur an expense as a result of the prepayment of any such Revolving Loans. No increase of the Commitments may be effected under this Section if (x) a Default or Event of Default shall be in existence on the effective date effectiveness of such increase purchase or (y) any representation or warranty made or deemed made by sale being during an Interest Period, the Borrower or any other Loan Party in any Loan Document to which any Company shall reimburse such Loan Party is a party is not (or would not be) true or correct on the effective date of such increase (except for representations or warranties which expressly relate solely to an earlier date). In connection with any increase in the aggregate amount of the Commitments pursuant to this subsection, (a) any Lender becoming a party hereto shall execute such documents and agreements as the Agent may reasonably request and (b) the Borrower shall make appropriate arrangements so that each new Lender, and any existing Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in Bank the amount of such Lender’s Commitment within 2 Business Days of loss or expense. Each such Bank shall furnish the effectiveness of Company with a certificate setting forth the applicable increase in basis for determining the aggregate amount of Commitmentsto be paid to it hereunder.

Appears in 1 contract

Samples: Credit Agreement (Unumprovident Corp)

Increase of Commitments. With Subject to the prior consent approval of the AgentAgent (which shall not be unreasonably withheld or delayed), the Borrower shall have the right at any time and from time to time to request increases an increase in the aggregate amount of the Commitments (provided that after giving effect to any there shall be no more than two such increases in the Commitments and the aggregate amount of such increases in the Commitments pursuant to this Section, the aggregate amount of the Commitments may Section shall not exceed $225,000,000200,000,000) by providing written notice to the Agent, which notice shall be irrevocable once given. Each such increase in the Commitments must be in an aggregate minimum amount of $20,000,000 and integral multiples of $5,000,000 1,000,000 in excess thereof; provided. The Agent shall promptly notify each Lender of such request. Each existing Lender shall have the right to increase its Commitment by an amount so that such Lender's Commitment Percentage shall not be decreased as a result of such requested increase in the Commitments. All other allocations of such requested increase shall be subject to the approval of the Agent. Each Lender shall notify the Agent within ten (10) Business Days after receipt of the Agent's notice whether such Lender wishes to increase the amount of its Commitment. If a Lender fails to deliver any such notice to the Agent within such time period, however, the Borrower may not request more than one then such Lender shall be deemed to have declined to increase during any period of twelve consecutive monthsits Commitment. No Lender shall be required to increase its Commitment and any new Lender Lender(s) becoming a party to this Agreement in connection with any such requested increase must be an Eligible Assignee. If In the event a new Lender becomes or Lenders become a party to this Agreement, or if any existing Lender agrees to increase its Commitment, such Lender shall on the date it becomes a Lender hereunder (or increases its Commitment, in the case of an existing Lender) (and as a condition thereto) purchase from the other Lenders its Commitment Percentage (or in the case of an existing Lender, the increase in the amount of its Commitment Percentage, in each case as determined after giving effect to the increase of Commitments) of any outstanding Revolving Loans, by making available to the Agent for the account of such other Lenders at the Principal Office, in same day funds, an amount equal to the sum of (Aa) the portion of the outstanding principal amount of such Revolving Loans to be purchased by such Lender plus (Bb) the aggregate amount of payments previously made by the other Lenders under Section 2.3.(jSections 2.2(e) or 2.4(j) which have not been repaid plus (C) repaid, and the Borrower shall pay to such other Lenders interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Revolving Loans. The Borrower shall also pay to the Lenders amounts payable, if any, to such Lenders under Section 5.4. 4.4 as a result of the prepayment of any such Revolving Loans. No increase of the Commitments may be effected under this Section if either (x) a Default or Event of Default shall be in existence on the effective date of such increase or (y) any representation or warranty made or deemed made by the Borrower or any other Loan Party in any Loan Document to which any such Loan Party is a party is not (or would not be) true or correct in all material respects on the effective date of such increase (except for representations or warranties which expressly relate solely to an earlier datedate and except for changes in factual circumstances or transactions, in either event not prohibited hereunder). In connection with any increase in the aggregate amount of the Commitments pursuant to this subsection, (aA) any Lender becoming a party hereto shall execute such documents and agreements as the Agent may reasonably request and (bB) the Borrower shall make appropriate arrangements so that each new Lender, and any existing Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in the amount of such Lender’s 's Commitment and a Competitive Advance Note within 2 two (2) Business Days of the effectiveness of the applicable increase in the aggregate amount of Commitments. The Borrower shall also execute and deliver to the other Lenders replacement Competitive Advance Notes increasing the principal face amount thereof to 50% of the new Total Commitment.

Appears in 1 contract

Samples: Credit Agreement (Gables Realty Limited Partnership)

Increase of Commitments. With the prior consent of the Agent, the The Borrower shall have the right at any time and from time to time from the Closing Date through and including the Termination Date to request increases in the aggregate amount of the Commitments (provided that after giving effect to any increases in the Commitments pursuant to this Section, the aggregate amount of increases to the Commitments may not exceed $225,000,00050,000,000) by providing written notice to the Agent, which notice shall be irrevocable once given. The Agent shall deliver a copy of such notice to each Lender promptly upon receipt thereof. Each such increase in the Commitments must be in an aggregate minimum amount of $20,000,000 25,000,000 and $5,000,000 integral multiples of $5,000,000 in excess thereof; provided, however. Notwithstanding anything herein to the contrary, the Borrower may not request more than one such limits set forth in Sections 2.04(a) with respect to Swingline Loans and 2.05(a) with respect to Letters of Credit shall remain applicable following any increase during any period of twelve consecutive monthsthe Commitments in accordance with this Section 2.25. No Lender shall be required to increase its Commitment and each Lender may decline to increase its Commitment in its sole discretion. If any Lender shall fail to respond, such Lender will have deemed to have declined. The Agent shall allocate any increase in the Commitments to existing Lenders willing to increase their respective Commitments prior to the allocation of such requested increase to any new Lender becoming Lenders to become a party to this Agreement Agreement. All such allocations shall be in connection with any the Agent’s sole discretion but not in an amount in excess of each such requested increase must be an Eligible AssigneeLender’s increased Commitment. If a new Lender becomes a party to this AgreementAgreement as provided herein, or if any existing Lender agrees to increase its Commitment, such Lender shall on the date it becomes a Lender hereunder (or increases its Commitment, in the case of an existing Lender) (and as a condition thereto) purchase from the other Lenders its Commitment Percentage pro rata share (or in the case of an existing Lender, the increase in the amount of its Commitment Percentagepro rata share, in each case as determined after giving effect to the increase of the Commitments) of any outstanding Revolving Loans, by making available to the Agent for the account of such other Lenders at the Principal OfficeLenders, in same day funds, an amount equal to the sum of (A) the portion of the outstanding principal amount of such Revolving Loans to be purchased by such Lender plus (B) the aggregate amount of payments previously made by the other Lenders under Section 2.3.(j) which have not been repaid plus (C) interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Revolving Loans. The Borrower shall pay to the Lenders amounts payable, if any, to such Lenders under Section 5.4. 2.14 as a result of the prepayment of any such Revolving Loans. No increase of the Commitments may be effected under this Section if the following conditions are not met immediately prior to such increase and immediately after giving effect thereto, (xi) a no Default or Event of Default shall be in existence on exist and (ii) the effective date of such increase or (y) any representation or warranty representations and warranties made or deemed made by the Borrower or any other in the Loan Party Documents, shall be true and correct in any Loan Document to which any such Loan Party is a party is not (or would not be) true or correct all material respects on and as of the effective date of such increase (extension with the same force and effect as if made on and as of such date except for to the extent that such representations or and warranties which expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date)) and except for changes in factual circumstances not prohibited under the Loan Documents. In connection with any increase in the aggregate amount of the Commitments pursuant to this subsectionSection, (a) any Lender becoming a party hereto shall execute such documents and agreements as the Agent may reasonably request and (b) the Borrower shall make appropriate arrangements so that each new Lender, and any existing Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in the amount of such Lender’s Commitment within 2 five Business Days of the effectiveness of the applicable increase in the aggregate amount of Commitmentssuch Lender’s request therefor.

Appears in 1 contract

Samples: Credit Agreement (South Carolina Electric & Gas Co)

Increase of Commitments. With the prior consent of the Agent, the The Borrower shall have the right at any time and from time to time during the term of this Agreement to request increases in the aggregate amount of the Commitments (provided that the aggregate amount of the Commitments after giving effect to any increases in the Commitments pursuant to this Section, the aggregate amount of the Commitments may Section shall not exceed $225,000,000750,000,000) by providing written notice to the Agent, which notice shall be irrevocable once given. Each such increase in the Commitments must be in an aggregate minimum amount of $20,000,000 25,000,000 and integral multiples of $5,000,000 in excess thereof; provided, however, the Borrower may not request more than one such increase during any period of twelve consecutive months. No Lender shall be required to increase its Commitment and any new Lender becoming a party to this Agreement in connection with any such requested increase must be an Eligible Assignee. If a new Lender becomes a party to this Agreement, or if any existing Lender agrees to increase its Commitment, such Lender shall on the date it becomes a Lender hereunder (or increases its Commitment, in the case of an existing Lender) (and as a condition thereto) purchase from the other Lenders its Commitment Percentage (or in the case of an existing Lender, the increase in the amount of its Commitment Percentage, in each case as determined after giving effect to the increase of Commitments) of any outstanding Revolving Loans, by making available to the Agent for the account of such other Lenders at the Principal Office, in same day funds, an amount equal to the sum of (A) the portion of the outstanding principal amount of such Revolving Loans to be purchased by such Lender plus (B) the aggregate amount of payments previously made by the other Lenders under Section 2.3.(j2.4.(j) which have not been repaid plus (C) interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Revolving Loans. The Borrower shall pay to the Lenders amounts payable, if any, to such Lenders under Section 5.44.4. as a result of the prepayment of any such Revolving Loans. No increase of the Commitments may be effected under this Section if (x) a Default or Event of Default shall be in existence on the effective date of such increase or (y) any representation or warranty made or deemed made by the Borrower or any other Loan Party in any Loan Document to which any such Loan Party is a party is not (or would not be) true or correct on the effective date of such increase (except for representations or warranties which expressly relate solely to an earlier date). In connection with any increase in the aggregate amount of the Commitments pursuant to this subsection, (a) any Lender becoming a party hereto shall execute such documents and agreements as the Agent may reasonably request and (b) the Borrower shall make appropriate arrangements so that each new Lender, and any existing Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in the amount of such Lender’s Commitment within 2 Business Days of the effectiveness of the applicable increase in the aggregate amount of Commitments.

Appears in 1 contract

Samples: Credit Agreement (United Dominion Realty Trust Inc)

Increase of Commitments. With the prior consent of the Agent, the The Borrower shall have the right at any time and from time to time during the term of this Agreement to request increases in the aggregate amount of the Commitments (provided that after giving effect to any increases in the Commitments pursuant to this Section, the aggregate amount of the Commitments may not exceed $225,000,000300,000,000) by providing written notice to the Agent, which notice shall be irrevocable once given. Each such increase in the Commitments must be in an aggregate minimum amount of $20,000,000 10,000,000 and integral multiples of $5,000,000 in excess thereof; provided, however, the Borrower may not request more than one such increase during any period of twelve consecutive months. No Lender shall be required to increase its Commitment and any new Lender becoming a party to this Agreement in connection with any such requested increase must be an Eligible Assignee. If a new Lender becomes a party to this AgreementAgreement in order to provide such additional Commitment, or if any existing Lender agrees to increase its Commitment, such Lender shall on the date it becomes a Lender hereunder (or increases its Commitment, in the case of an existing Lender) make Term Loans (and as a condition theretoany such Term Loan, an “Incremental Term Loan”) purchase from to the other Lenders its Borrower in an aggregate principal amount equal to such new Lender’s Commitment Percentage (or the amount of the increase in its Commitment, in the case of an existing Lender, the increase in the amount of its Commitment Percentage, in each case as determined after giving effect to the increase of Commitments) of any outstanding Revolving Loans), by making available to the Agent for the account of such other Lenders its applicable Lending Office to the Agent at the Principal Office, in same day immediately available funds, in an aggregate principal amount equal to such new Lender’s Commitment (or the sum of (A) the portion amount of the outstanding principal amount increase in its Commitment, in the case of an existing Lender). Subject to the satisfaction of the conditions set forth in this Section 2.16. and Section 6.2., the Agent will make the proceeds of such Revolving Loans to be purchased by such Lender plus (B) the aggregate amount of payments previously made by the other Lenders under Section 2.3.(j) which have not been repaid plus (C) interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Revolving Loans. The Borrower shall pay borrowing available to the Lenders amounts payable, if any, Borrower at the account specified by Borrower. No Lender shall be required to such Lenders under Section 5.4. as increase its Commitment and any new Lender becoming a result of the prepayment of party to this Agreement in connection with any such Revolving Loansrequested increase must be an Eligible Assignee. No increase of the Commitments may be effected under this Section if (x) a Default or Event of Default shall be in existence on the effective date of such increase (and no Default or Event of Default would arise after giving pro forma effect to such increase) or (y) any representation or warranty made or deemed made by the Borrower or any other Loan Party in any Loan Document to which any such Loan Party is a party is not (or would not be) true or correct in all material respects on the effective date of such increase (except for representations or warranties which expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents). In addition, in connection with and as a condition to any increase of the Term Loans, the Borrower shall obtain an additional Interest Rate Hedge with respect to such increased Commitment as is necessary to comply with Section 8.16. In connection with any increase in the aggregate amount of the Commitments pursuant to this subsection, (a) any Lender becoming a party hereto shall execute such documents and agreements as the Agent may reasonably request and (b) the Borrower shall shall, if requested by the affected Lender, make appropriate arrangements so that each new Lender, and any existing Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in the amount of such Lender’s Commitment within 2 Business Days of simultaneous with the effectiveness of the applicable increase in the aggregate amount of Commitments. Each of the parties hereto hereby agrees that, upon the effectiveness of any increase of Commitments under this Section 2.16., the Agent may (without the consent of any Lender) amend this Agreement to the extent (but only to the extent) necessary to reflect the increase of Commitments.

Appears in 1 contract

Samples: Term Loan Agreement (Kite Realty Group, L.P.)

Increase of Commitments. With the prior consent of the Agent, the Borrower shall have the right at any time and from time to time during the term of this Agreement to request increases in the aggregate amount of the Commitments (provided that after giving effect to any increases in the Commitments pursuant to this Section, the aggregate amount of the Commitments may not exceed $225,000,000400,000,000) by providing written notice to the Agent, which notice shall be irrevocable once given. Each such increase in the Commitments must be in an aggregate minimum amount of $20,000,000 10,000,000 and integral multiples of $5,000,000 in excess thereof; provided, however, the Borrower may not request more than one such increase during any period of twelve consecutive months. No Lender shall be required to increase its Commitment and any new Lender becoming a party to this Agreement in connection with any such requested increase must be an Eligible Assignee. If a new Lender becomes a party to this Agreement, or if any existing Lender agrees to increase its Commitment, such Lender shall on the date it becomes a Lender hereunder (or increases its Commitment, in the case of an existing Lender) (and as a condition thereto) purchase from the other Lenders its Commitment Percentage (or in the case of an existing Lender, the increase in the amount of its Commitment Percentage, in each case as determined after giving effect to the increase of Commitments) of any outstanding Revolving Loans, by making available to the Agent for the account of such other Lenders at the Principal Office, in same day funds, an amount equal to the sum of (A) the portion of the outstanding principal amount of such Revolving Loans to be purchased by such Lender plus (B) the aggregate amount of payments previously made by the other Lenders under Section 2.2.(e) and Section 2.3.(j) which have not been repaid plus (C) interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Revolving Loans. The Borrower shall pay to the Lenders amounts payable, if any, to such Lenders under Section 5.4. as a result of the prepayment of any such Revolving Loans. No increase of the Commitments may be effected under this Section if (x) a Default or Event of Default shall be in existence on the effective date of such increase or (y) any representation or warranty made or deemed made by the Borrower or any other Loan Party in any Loan Document to which any such Loan Party is a party is not (or would not be) true or correct on the effective date of such increase (except for representations or warranties which expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents). In connection with any increase in the aggregate amount of the Commitments pursuant to this subsection, (a) any Lender becoming a party hereto shall execute such documents and agreements as the Agent may reasonably request and (b) the Borrower shall shall, if requested by the affected Lender, make appropriate arrangements so that each new Lender, and any existing Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in the amount of such Lender’s Commitment within 2 Business Days of the effectiveness of the applicable increase in the aggregate amount of Commitments. Each of the parties hereto hereby agrees that, upon the effectiveness of any increase of Commitments under this Section 2.15., the Agent may (without the consent of any Lender) amend this Agreement to the extent (but only to the extent) necessary to reflect the increase of Commitments.

Appears in 1 contract

Samples: Credit Agreement (Kite Realty Group Trust)

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Increase of Commitments. With the prior consent of the Agent, the The Borrower shall have the right at any time and may from time to time elect to request increases increase the Commitments, in each case in minimum increments of $5,000,000 and not less than $20,000,000, so long as, after giving effect thereto, the aggregate amount of the Commitments (provided that such increases does not exceed $200,000,000, after giving effect to any increases in the Commitments pursuant to this Sectionsuch increase, the aggregate amount of the Commitments may Aggregate Commitment does not exceed $225,000,000650,000,000 and the total number of increases implemented under this Section 2.20 does not exceed four (4). The Borrower may arrange for any such increase to be provided by one or more Lenders (each Lender so agreeing to an increase in its Commitment, an “Increasing Lender”), or by one or more new banks, financial institutions or other entities (each such new bank, financial institution or other entity, an “Augmenting Lender”; provided that no Ineligible Institution may be an Augmenting Lender), which agree to increase their existing Commitments or provide new Commitments, as the case may be; provided that (i) by providing written notice each Augmenting Lender, shall be subject to the Agent, which notice shall be irrevocable once given. Each such increase in approval of the Commitments must be in an aggregate minimum amount of $20,000,000 and integral multiples of $5,000,000 in excess thereof; provided, howeverBorrower, the Borrower may not request more than one such increase during any period Administrative Agent and the Issuing Banks and the Swingline Lender to the extent the consent of twelve consecutive months. No the Issuing Banks or the Swingline Lender shall would be required to increase its Commitment effect an assignment under Section 9.04(b), and any new Lender becoming a party to this Agreement in connection with any such requested increase must be an Eligible Assignee. If a new Lender becomes a party to this Agreement, or if any existing Lender agrees to increase its Commitment, such Lender shall on the date it becomes a Lender hereunder (or increases its Commitment, ii) (x) in the case of an existing Increasing Lender, the Borrower and such Increasing Lender execute an agreement substantially in the form of Exhibit C hereto, and (y) (and as a condition thereto) purchase from the other Lenders its Commitment Percentage (or in the case of an existing Augmenting Lender, the Borrower and such Augmenting Lender execute an agreement substantially in the form of Exhibit D hereto. No consent of any Lender (other than the Lenders participating in the increase) shall be required for any increase in Commitments pursuant to this Section 2.20. Increases and new Commitments pursuant to this Section 2.20 shall become effective on the date agreed by the Borrower, the Administrative Agent and the relevant Increasing Lenders or Augmenting Lenders, and the Administrative Agent shall notify each Lender thereof. Notwithstanding the foregoing, no increase in the amount Commitments (or in the Commitment of its Commitment Percentageany Lender) shall become effective under this paragraph unless, (i) on the proposed date of the effectiveness of such increase, (A) the conditions set forth in each case paragraphs (a) and (b) of Section 4.02 shall be satisfied or waived by the Required Lenders and the Administrative Agent shall have received a certificate to that effect dated such date and executed by a Financial Officer of the Borrower and (B) as determined of the effective date of any such increase, no Default shall exist and (ii) the Administrative Agent shall have received evidence reasonably acceptable to the Administrative Agent as to the organizational power and authority of the Borrower to borrow hereunder after giving effect to such increase. On the increase of Commitments) effective date of any increase in the Commitments, (i) each relevant Increasing Lender and Augmenting Lender shall make available to the Administrative Agent such amounts in immediately available funds as the Administrative Agent shall determine, for the benefit of the other Lenders, as being required in order to cause, after giving effect to such increase and the use of such amounts to make payments to such other Lenders, each Lender’s portion of the outstanding Revolving Loans of all the Lenders to equal its Applicable Percentage of such outstanding Revolving Loans, and (ii) the Borrower shall be deemed to have repaid and reborrowed all outstanding Revolving Loans as of the date of any increase in the Commitments (with such reborrowing to consist of the Types of Revolving Loans, with related Interest Periods if applicable, specified in a notice delivered by making available to the Agent for the account of such other Lenders at the Principal OfficeBorrower, in same day funds, an amount equal accordance with the requirements of Section 2.03). The deemed payments made pursuant to the sum of clause (Aii) the portion of the outstanding principal amount of such Revolving Loans to be purchased by such Lender plus (B) the aggregate amount of payments previously made by the other Lenders under Section 2.3.(j) which have not been repaid plus (C) interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Revolving Loans. The Borrower shall pay to the Lenders amounts payable, if any, to such Lenders under Section 5.4. as a result of the prepayment of any such Revolving Loans. No increase of the Commitments may be effected under this Section if (x) a Default or Event of Default immediately preceding sentence shall be in existence accompanied by payment of all accrued interest on the effective date amount prepaid and, in respect of such increase or (y) any representation or warranty made or deemed made each Eurocurrency Loan, shall be subject to indemnification by the Borrower or any pursuant to the provisions of Section 2.16 if the deemed payment occurs other Loan Party than on the last day of the related Interest Periods. Notwithstanding anything herein to the contrary, the Administrative Agent, the Borrower and the applicable Augmenting Lenders and/or Increasing Lenders may agree upon procedures for phasing in any Loan Document increase to which any such Loan Party is minimize breakage costs or for reasons of convenience. Nothing contained in this Section 2.20 shall constitute, or otherwise be deemed to be, a party is not (or would not be) true or correct commitment on the effective date part of such any Lender to increase (except for representations or warranties which expressly relate solely to an earlier date)its Commitment hereunder at any time. In connection with any increase in the aggregate amount of the Commitments pursuant to this subsectionSection 2.20, (a) any Augmenting Lender becoming a party hereto shall (1) execute such documents and agreements as the Administrative Agent may reasonably request and (b2) the Borrower shall make appropriate arrangements so that each new Lender, and any existing Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in the amount case of such Lender’s Commitment within 2 Business Days any Augmenting Lender that is organized under the laws of a jurisdiction outside of the effectiveness United States of America, provide to the applicable increase in Administrative Agent, its name, address, tax identification number and/or such other information as shall be necessary for the aggregate amount of CommitmentsAdministrative Agent to comply with “know your customer” and anti-money laundering rules and regulations, including without limitation, the Patriot Act.

Appears in 1 contract

Samples: Credit Agreement (Trinity Industries Inc)

Increase of Commitments. With the prior consent of the Agent, the Borrower shall have the right at any time and The Company may from time to time to request increases in the aggregate amount of the Commitments (provided that after giving effect to any increases in the Commitments pursuant to this Sectiontime, the aggregate amount of the Commitments may not exceed $225,000,000) by providing written notice to the Agent, which notice shall request that the aggregate Commitments be irrevocable once givenincreased by an amount that will not result in the aggregate Commitments under this Agreement plus the "Commitments" under the Other Credit Agreement exceeding $1,000,000,000. Each such notice shall set forth the requested amount of the increase in the Commitments must be and the date on which such increase is to become effective. The Company shall have the right, but not the obligation, to arrange for one or more commercial banks or other financial institutions (any such bank or other financial institution being called an "Augmenting Bank"), which may include any Bank, to extend Commitments or increase their existing Commitments in an aggregate minimum amount of $20,000,000 and integral multiples of $5,000,000 in excess thereof; providedup to, howeverbut not greater than, the Borrower may requested increase, provided that each Augmenting Bank, if not request more already a Bank hereunder (i) shall extend a new Commitment of not less than one $10,000,000, (ii) shall execute all such increase during any period of twelve consecutive months. No Lender documentation as the Agent shall specify to evidence its status as a Bank hereunder and (iii) shall be required consented to by the Agent. If (and only if) Banks (including Augmenting Banks) shall have agreed to increase its Commitment and any their aggregate Commitments or to extend new Lender becoming a party to this Agreement Commitments in connection with any such requested increase must be an Eligible Assignee. If a new Lender becomes a party to this Agreement, or if any existing Lender agrees to increase its Commitmentaggregate amount not less than $10,000,000 in the aggregate, such Lender increases and such new Commitments shall become effective on the date it becomes a Lender hereunder (or increases its Commitmentagreed to by the Company, the Augmenting Banks and the Agent. Notwithstanding the foregoing, no increase in the case of an existing Lender) (and as a condition thereto) purchase from the other Lenders its Commitment Percentage aggregate Commitments (or in the case Commitment of an existing Lenderany Bank) shall become effective under this paragraph unless, on the date of such increase, the conditions set forth in Section 4.2 shall be satisfied (with all references in such paragraphs to a Loan being deemed to be references to such increase) and the Agent shall have received a certificate to that effect dated such date and executed by a Responsible Officer of the Company. Upon the effectiveness of any increase pursuant to this Section 2.14 of the aggregate Commitments and any resulting adjustment in the amount Pro Rata Share, the Banks and the Augmenting Banks will purchase from each other and sell to each other outstanding Loans sufficient to cause the outstanding Loans of each Bank and Augmenting Bank to equal its Commitment Percentage, in each case Pro Rata Share (as determined after giving effect to the increase of Commitmentsso adjusted) of any outstanding Revolving Loans, by making available to the Agent for the account of such other Lenders at the Principal Office, in same day funds, an amount equal to the sum of (A) the portion of the outstanding principal amount of such Revolving Loans to be purchased by such Lender plus (B) the aggregate amount of payments previously made by the other Lenders under Section 2.3.(j) which have not been repaid plus (C) interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Revolving Loans. The Borrower Such purchase and sale shall pay be made pursuant to the Lenders amounts payableSection 10.7 except that no minimum amount shall be required, no processing fee shall be charged and, if any, to such Lenders under Section 5.4. any Bank shall suffer a loss or incur an expense as a result of the prepayment of any such Revolving Loans. No increase of the Commitments may be effected under this Section if (x) a Default or Event of Default shall be in existence on the effective date effectiveness of such increase purchase or (y) any representation or warranty made or deemed made by sale being during an Interest Period, the Borrower or any other Loan Party in any Loan Document to which any Company shall reimburse such Loan Party is a party is not (or would not be) true or correct on the effective date of such increase (except for representations or warranties which expressly relate solely to an earlier date). In connection with any increase in the aggregate amount of the Commitments pursuant to this subsection, (a) any Lender becoming a party hereto shall execute such documents and agreements as the Agent may reasonably request and (b) the Borrower shall make appropriate arrangements so that each new Lender, and any existing Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in Bank the amount of such Lender’s Commitment within 2 Business Days of loss or expense. Each such Bank shall furnish the effectiveness of Company with a certificate setting forth the applicable increase in basis for determining the aggregate amount of Commitmentsto be paid to it hereunder.

Appears in 1 contract

Samples: Day Credit Agreement (Unumprovident Corp)

Increase of Commitments. With the prior consent of the Agent, the The Borrower shall have the right at any time and from time to time during the term of this Agreement to request increases in the aggregate amount of the Commitments (provided that after giving effect to any increases in the Commitments pursuant to this Section, the aggregate amount of the Commitments may not exceed $225,000,000250,000,000) by providing written notice to the Agent, which notice shall be irrevocable once given. Each such increase in the Commitments must be in an aggregate minimum amount of $20,000,000 10,000,000 and integral multiples of $5,000,000 in excess thereof; provided. If a new Lender becomes a party to this Agreement in order to provide such additional Commitment, howeveror if any existing Lender agrees to increase its Commitment, such Lender shall on the date it becomes a Lender hereunder (or increases its Commitments, in the case of an existing Lender) make Term Loans (any such Term Loan, an “Incremental Term Loan”) to the Borrower in an aggregate principal amount equal to such new Lender’s Commitment (or the amount of the increase in its Commitments, in the case of an existing Lender), by making available for the account of its applicable Lending Office to the Agent at the Principal Office, in immediately available funds, in an aggregate principal amount equal to such new Lender’s Commitment (or the amount of the increase in its Commitments, in the case of an existing Lender). Subject to the satisfaction of the conditions set forth in this Section 2.16. and Section 6.2., the Agent will make the proceeds of such borrowing available to the Borrower may at the account specified by Borrower (it being acknowledged and agreed that any such borrowing shall not request more than one such increase during any period of twelve consecutive monthscount against or be subject to the Maximum Borrowings limitation set forth in Section 2.1.(a). and, except as provided in Section 2.1.(a), need not be within the Term Loan Commitment Period). No Lender shall be required to increase its Commitment and any new Lender becoming a party to this Agreement in connection with any such requested increase must be an Eligible Assignee. If a new Lender becomes a party to this Agreement, or if any existing Lender agrees to increase its Commitment, such Lender shall on the date it becomes a Lender hereunder (or increases its Commitment, in the case of an existing Lender) (and as a condition thereto) purchase from the other Lenders its Commitment Percentage (or in the case of an existing Lender, the increase in the amount of its Commitment Percentage, in each case as determined after giving effect to the increase of Commitments) of any outstanding Revolving Loans, by making available to the Agent for the account of such other Lenders at the Principal Office, in same day funds, an amount equal to the sum of (A) the portion of the outstanding principal amount of such Revolving Loans to be purchased by such Lender plus (B) the aggregate amount of payments previously made by the other Lenders under Section 2.3.(j) which have not been repaid plus (C) interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Revolving Loans. The Borrower shall pay to the Lenders amounts payable, if any, to such Lenders under Section 5.4. as a result of the prepayment of any such Revolving Loans. No increase of the Commitments may be effected under this Section if (x) a Default or Event of Default shall be in existence on the effective date of such increase (and no Default or Event of Default would arise after giving pro forma effect to such increase) or (y) any representation or warranty made or deemed made by the Borrower or any other Loan Party in any Loan Document to which any such Loan Party is a party is not (or would not be) true or correct in all material respects on the effective date of such increase (except for representations or warranties which expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date) and except for changes in factual circumstances not prohibited under the Loan Documents). In connection with any increase in the aggregate amount of the Commitments pursuant to this subsection, (a) any Lender becoming a party hereto shall execute such documents and agreements as the Agent may reasonably request and (b) the Borrower shall shall, if requested by the affected Lender, make appropriate arrangements so that each new Lender, and any existing Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in the amount of such Lender’s Commitment within 2 Business Days of the effectiveness of the applicable increase in the aggregate amount of Commitments. Each of the parties hereto hereby agrees that, upon the effectiveness of any increase of Commitments under this Section 2.16., the Agent may (without the consent of any Lender) amend this Agreement to the extent (but only to the extent) necessary to reflect the increase of Commitments.

Appears in 1 contract

Samples: Term Loan Agreement (Kite Realty Group, L.P.)

Increase of Commitments. With The Borrower may from time to time, by notice to the prior consent Administrative Agent, request that the aggregate Commitments be increased by an amount that will not result in the aggregate Commitments under this Agreement to exceed $75,000,000. Each such notice shall set forth the requested amount of the Agent, increase in the Commitments and the date on which such increase is to become effective. The Borrower shall have the right at right, but not the obligation, to arrange for one or more commercial banks or other financial institutions (any time and from time to time to request increases in the aggregate amount of the Commitments (provided that after giving effect to any increases in the Commitments pursuant to this Section, the aggregate amount of the Commitments may not exceed $225,000,000) by providing written notice to the Agentsuch bank or other financial institution being called an “Augmenting Lender”), which notice shall be irrevocable once given. Each such may include any Lender with its consent, to extend Commitments or increase in the their existing Commitments must be in an aggregate minimum amount of $20,000,000 and integral multiples of $5,000,000 in excess thereof; providedup to, howeverbut not greater than, the Borrower may requested increase, provided that each Augmenting Lender, if not request more than one such increase during any period of twelve consecutive months. No Lender shall be required to increase its Commitment and any new Lender becoming a party to this Agreement in connection with any such requested increase must be an Eligible Assignee. If a new Lender becomes a party to this Agreement, or if any existing Lender agrees to increase its Commitment, such Lender shall on the date it becomes already a Lender hereunder (i) shall extend a new Commitment of not less than $5,000,000, (ii) shall execute all such documentation as the Administrative Agent shall specify to evidence its status as a Lender hereunder and (iii) shall be consented to by the Administrative Agent. If (and only if) Lenders (including Augmenting Lenders) shall have agreed to increase their aggregate Commitments or increases its Commitment, to extend new Commitments in an aggregate amount of not less than $5,000,000 in the case of an existing Lender) (aggregate, such increases and as a condition thereto) purchase from such new Commitments shall become effective on the other date agreed to by the Borrower, the Augmenting Lenders its Commitment Percentage and the Administrative Agent. Notwithstanding the foregoing, no increase in the aggregate Commitments (or in the case Commitment of an existing any Lender) shall become effective under this paragraph unless, on the date of such increase, the conditions set forth in Section 4.2(b) and (c) shall be satisfied (with all references in such paragraphs to a Loan being deemed to be references to such increase) and the Administrative Agent shall have received a certificate to that effect dated such date and executed by a Responsible Officer of the Borrower. Upon the effectiveness of any increase pursuant to this Section 2.17 of the aggregate Commitments and any resulting adjustment in the amount Pro Rata Share, the Lenders and the Augmenting Lenders will purchase from each other and sell to each other outstanding Loans sufficient to cause the outstanding Loans of each Lender and Augmenting Lender to equal its Commitment Percentage, in each case Pro Rata Share (as determined after giving effect to the increase of Commitmentsso adjusted) of any outstanding Revolving Loans, by making available to the Agent for the account of such other Lenders at the Principal Office, in same day funds, an amount equal to the sum of (A) the portion of the outstanding principal amount of such Revolving Loans to be purchased by such Lender plus (B) the aggregate amount of payments previously made by the other Lenders under Section 2.3.(j) which have not been repaid plus (C) interest accrued and unpaid to and as of such date on such portion of the outstanding principal amount of such Revolving Loans. The Borrower Such purchase and sale shall pay be made pursuant to the Lenders amounts payableSection 10.8 except that no minimum amount shall be required, no processing fee shall be charged and, if any, to such Lenders under Section 5.4. any Lender shall suffer a loss or incur an expense as a result of the prepayment of any such Revolving Loans. No increase of the Commitments may be effected under this Section if (x) a Default or Event of Default shall be in existence on the effective date effectiveness of such increase purchase or (y) any representation or warranty made or deemed made by the Borrower or any other Loan Party in any Loan Document to which any such Loan Party is a party is not (or would not be) true or correct on the effective date of such increase (except for representations or warranties which expressly relate solely to sale being during an earlier date). In connection with any increase in the aggregate amount of the Commitments pursuant to this subsectionInterest Period, (a) any Lender becoming a party hereto shall execute such documents and agreements as the Agent may reasonably request and (b) the Borrower shall make appropriate arrangements so that each new Lender, and any existing reimburse such Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in the amount of such Lender’s Commitment within 2 Business Days of loss or expense. Each such Lender shall furnish the effectiveness of Borrower with a certificate setting forth the applicable increase in basis for determining the aggregate amount of Commitmentsto be paid to it hereunder.

Appears in 1 contract

Samples: Credit Agreement (Pma Capital Corp)

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