Common use of Increased Commitments; Additional Banks Clause in Contracts

Increased Commitments; Additional Banks. (a) Subsequent to the Effective Date (but not more than twice in any calendar year), the Company may, upon at least 30 days' notice to the Agent (which shall promptly provide a copy of such notice to the Banks), propose to increase the aggregate amount of the Commitments by an amount which (i) is a multiple of $50,000,000 and (ii) when combined with the aggregate amount by which the Commitments have theretofore been increased pursuant to this Section 2.19, does not exceed $275,000,000 (the amount of any such increase, the "Increased Commitments"); provided that no Default shall have occurred and be continuing. Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 days following receipt of such notice, to elect by notice to the Company and the Agent to increase its Commitment by a principal amount which bears the same ratio to the Increased Commitments as its then Commitment bears to the aggregate Commitments then existing.

Appears in 1 contract

Samples: Credit Agreement (Gillette Co)

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Increased Commitments; Additional Banks. (a) Subsequent to the Effective Date (but not more than twice in any calendar year)Date, the Company Borrower may, upon at least 30 days' notice to the Agent (which shall promptly provide a copy of such notice to the Banks), propose to increase the aggregate amount of the Commitments by to an amount which (i) is a multiple of $50,000,000 and (ii) when combined with the aggregate amount by which the Commitments have theretofore been increased pursuant not to this Section 2.19, does not exceed $275,000,000 500,000,000 (the amount of any such increase, the "Increased CommitmentsINCREASED COMMITMENTS"); provided that no Default shall have occurred and be continuing. Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 days following receipt of such notice, to elect by notice to the Company Borrower and the Agent to increase its Commitment by a principal amount which bears the same ratio to the Increased Commitments as its then Commitment bears to the aggregate Commitments then existing, provided that no increase in the aggregate amount of the Commitments shall be effective unless Banks having more than 50% of in the aggregate amount of the Commitments in effect at the time any such increase is requested shall have elected so to increase their Commitments.

Appears in 1 contract

Samples: Credit Agreement (Galileo International Inc)

Increased Commitments; Additional Banks. (a) Subsequent to the Effective Date (but not more than twice in any calendar year)Date, the Company Borrower may, upon at least 30 days' notice to the Agent (which shall promptly provide a copy of such notice to the Banks), propose to increase the aggregate amount of the Commitments by to an amount which (i) is a multiple of $50,000,000 and (ii) when combined with the aggregate amount by which the Commitments have theretofore been increased pursuant not to this Section 2.19, does not exceed $275,000,000 300,000,000 (the amount of any such increase, the "Increased CommitmentsINCREASED COMMITMENTS"); provided that no Default shall have occurred and be continuing. Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 days following receipt of such notice, to elect by notice to the Company Borrower and the Agent to increase its Commitment by a principal amount which bears the same ratio to the Increased Commitments as its then Commitment bears to the aggregate Commitments then existing, provided that no increase in the aggregate amount of the Commitments shall be effective unless Banks having more than 50% of in the aggregate amount of the Commitments in effect at the time any such increase is requested shall have elected so to increase their Commitments.

Appears in 1 contract

Samples: Credit Agreement (Galileo International Inc)

Increased Commitments; Additional Banks. (a) Subsequent to the Effective Date (but not more than twice in any calendar year), the Company may, upon at least 30 days' notice to the Agent (which shall promptly provide a copy of such notice to the Banks), propose to increase the aggregate amount of the Commitments by an amount which (i) is a multiple of $50,000,000 and (ii) when combined with the aggregate amount by which the Commitments have theretofore been increased pursuant to this Section 2.19, does not exceed $275,000,000 550,000,000 (the amount of any such increase, the "Increased CommitmentsINCREASED COMMITMENTS"); provided that no Default shall have occurred and be continuing. Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 days following receipt of such notice, to elect by notice to the Company and the Agent to increase its Commitment by a principal amount which bears the same ratio to the Increased Commitments as its then Commitment bears to the aggregate Commitments then existing.

Appears in 1 contract

Samples: Credit Agreement (Gillette Co)

Increased Commitments; Additional Banks. (a) Subsequent to the Effective Date (but not more than twice in any calendar year)Date, the Company Borrower may, upon at least 30 days' notice to the Agent (which shall promptly provide a copy of such notice to the Banks), propose to increase the aggregate amount of the Commitments by to an amount which (i) is a multiple of $50,000,000 and (ii) when combined with the aggregate amount by which the Commitments have theretofore been increased pursuant not to this Section 2.19, does not exceed $275,000,000 500,000,000 (the amount of any such increase, the "Increased CommitmentsINCREASED COMMITMENTS"); provided that no Default shall have occurred and be continuing. Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 days following receipt of such notice, to elect by notice to the Company Borrower and the Agent to increase its Commitment by a principal amount which bears the same ratio to the Increased Commitments as its then Commitment bears to the aggregate Commitments then existing., provided that no increase in the aggregate amount of the Commitments shall be effective unless Banks having more than 50% of in the aggregate amount of the

Appears in 1 contract

Samples: Credit Agreement (Galileo International Inc)

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Increased Commitments; Additional Banks. (a) Subsequent On a single occasion during each year subsequent to the Effective Date (but not more than twice in any calendar year)Closing Date, the Company may, upon at least 30 thirty (30) days' notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Banks), propose to increase the aggregate amount of the Commitments by in an aggregate minimum amount which (i) is a multiple of $50,000,000 10,000,000 and (ii) when combined with the an aggregate maximum amount by which the Commitments have theretofore been increased pursuant not to this Section 2.19, does not exceed $275,000,000 500,000,000 (the amount of any such increase, the "Increased Commitments"); ”) provided that no Default shall have occurred (i) at the time of and be continuingimmediately after giving effect to such Increased Commitments, the Company maintains at least a Level 4 and (ii) the conditions set forth in Section 2.8(c) are satisfied. Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 fifteen (15) days following receipt of such notice, to elect by notice to the Company and the Administrative Agent to increase its Commitment by a principal amount which bears the same ratio to the Increased Commitments as its then Commitment bears to the aggregate Commitments then existing.

Appears in 1 contract

Samples: Credit Agreement (Amgen Inc)

Increased Commitments; Additional Banks. (a) Subsequent to the Effective Date (but not more than twice in any calendar year), . the Company Borrower may, upon at least 30 days' notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Banks), propose to increase the aggregate amount of the Commitments by an amount which (i) is a multiple of $50,000,000 10,000,000 and (ii) when combined with the aggregate amount by which the Commitments have theretofore been increased pursuant to this Section 2.192.02, does not exceed $275,000,000 600,000,000 (the amount of any such increase, the "Increased Commitments"); provided that no Default shall have occurred and be continuing. Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 days following receipt of such notice, to elect by notice to the Company Borrower and the Administrative Agent to increase its Its Commitment by a principal amount which bears the same ratio to the Increased Commitments as its then Commitment bears to the aggregate Commitments then existing.

Appears in 1 contract

Samples: Credit Agreement (Guidant Corp)

Increased Commitments; Additional Banks. (a) Subsequent On a single occasion during each year subsequent to the Effective Date (but not more than twice in any calendar year)Closing Date, the Company may, upon at least 30 thirty (30) days' notice to the Administrative Agent (which shall promptly provide a copy of such notice to the Banks), propose to increase the aggregate amount of the Commitments by in an aggregate minimum amount which (i) is a multiple of $50,000,000 10,000,000 and (ii) when combined with the an aggregate maximum amount by which the Commitments have theretofore been increased pursuant not to this Section 2.19, does not exceed $275,000,000 500,000,000 (the amount of any such increase, the "Increased Commitments"); provided that no Default shall have occurred and be continuingthe conditions set forth in Section 2.8(c) are satisfied. Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 fifteen (15) days following receipt of such notice, to elect by notice to the Company and the Administrative Agent to increase its Commitment by a principal amount which bears the same ratio to the Increased Commitments as its then Commitment bears to the aggregate Commitments then existing.

Appears in 1 contract

Samples: Credit Agreement (Amgen Inc)

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