Common use of Increased Commitments; Additional Banks Clause in Contracts

Increased Commitments; Additional Banks. (a) Subsequent to the Effective Date, the Borrower may, on no more than three occasions, 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 not to exceed in the aggregate for all such increases $60,000,000 (the amount of any such increase, the "Increased Commitments"). 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 Borrower 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 (Duke Energy Corp)

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Increased Commitments; Additional Banks. (a) Subsequent From time to the Effective Datetime, the Borrower may, on no more than three occasions, upon at least 30 15 days' notice (which may be written notice or telephonic notice promptly followed by written 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 not to exceed in the aggregate for all such increases less than $60,000,000 10,000,000 (the amount of any such increase, the "Increased Commitments"). Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 10 days following receipt of such notice, to elect by notice to the Borrower 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. Any Bank not responding within 10 days of receipt of such notice shall be deemed to have declined to increase its Commitment.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Blyth Inc)

Increased Commitments; Additional Banks. (a) Subsequent From time to the Effective Date, the Borrower may, on time (but no more than three occasionstwo times), the Company may, upon at least 30 days15 Domestic Business 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 not to exceed in the aggregate for all such increases less than $60,000,000 25,000,000 (the amount of any such increase, the "Increased Commitments"). 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 Borrower 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. Any Bank not responding within 15 days of receipt of such notice shall be deemed to have declined to increase its Commitment.

Appears in 1 contract

Samples: Credit Agreement (Universal Health Services Inc)

Increased Commitments; Additional Banks. (a) Subsequent From time to the Effective Datetime, the Borrower may, on no more than three occasions, upon at least 30 15 days' notice (which may be written notice or telephonic notice promptly followed by written notice) to the Administrative Documentation 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 not to exceed in the aggregate for all such increases less than $60,000,000 10,000,000 (the amount of any such increase, the "Increased CommitmentsINCREASED COMMITMENTS"). Each Bank party to this Agreement at such time shall have the right (but no obligation), for a period of 15 10 days following receipt of such notice, to elect by notice to the Borrower and the Administrative Documentation 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. Any Bank not responding within 10 days of receipt of such notice shall be deemed to have declined to increase its Commitment.

Appears in 1 contract

Samples: Credit Agreement (Blyth Industries Inc)

Increased Commitments; Additional Banks. (a) Subsequent to the Effective Date, the Borrower may, on no more than three occasions, upon at least 30 days' notice to the Administrative Servicing 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 not to exceed in the aggregate for all such increases $60,000,000 500,000,000 (the amount of any such increase, the "Increased Commitments"). 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 Borrower and the Administrative Servicing 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. If a Bank party does not respond within such 15 day period following receipt of such notice it shall be deemed to have elected not to increase its Commitment.

Appears in 1 contract

Samples: Credit Agreement (Clorox Co /De/)

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Increased Commitments; Additional Banks. (a) Subsequent From time to the Effective Datetime (but no more than two times), the Borrower may, on no more than three occasions, upon at least 30 days15 Domestic Business 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 not to exceed in the aggregate for all such increases less than $60,000,000 25,000,000 (the amount of any such increase, the "Increased CommitmentsINCREASED COMMITMENTS"). 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 Borrower 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. Any Bank not responding within 15 days of receipt of such notice shall be deemed to have declined to increase its Commitment.

Appears in 1 contract

Samples: Credit Agreement (Universal Health Services Inc)

Increased Commitments; Additional Banks. (a) Subsequent to the Effective Datea On a single occasion, the Borrower may, on no more than three occasions, upon at least 30 days' notice (which notice shall be given not later than June 12, 1998) 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 not to exceed in the aggregate for all such increases greater than $60,000,000 100,000,000 (the amount of any such increase, the "Increased Commitments"). 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, notice to elect by notice to the Borrower 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. Any Bank not responding within 15 days of receipt of such notice shall be deemed to have declined to increase its Commitment.

Appears in 1 contract

Samples: Credit Agreement (Quaker State Corp)

Increased Commitments; Additional Banks. (a) Subsequent to the Effective Date, the Borrower may, on no more than three occasions, 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 not to exceed in the aggregate for all such increases $60,000,000 250,000,000 (the amount of any such increase, the "Increased CommitmentsINCREASED COMMITMENTS"). 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 Borrower 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 (Duke Energy Corp)

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