Increasing Lenders and New Lenders Clause Samples
The "Increasing Lenders and New Lenders" clause defines the process by which existing lenders can increase their commitments and new lenders can join a loan agreement. Typically, this clause outlines the conditions under which additional funding can be provided, the approvals required from existing parties, and the procedures for onboarding new lenders. For example, it may specify notice periods, documentation requirements, and any limitations on the amount by which commitments can be increased. The core function of this clause is to provide flexibility for borrowers to access additional financing under the same agreement while ensuring that all parties are aware of and agree to changes in the lender group.
Increasing Lenders and New Lenders. The Borrower may, prior to the Expiration Date, request that (1) the current Lenders (each, a “Current Lender”) increase their Revolving Credit Commitments (any Current Lender which elects to increase its Revolving Credit Commitment shall be referred to as an “Increasing Lender”) and/or (2) one or more new lenders (each, a “New Lender”) join this Agreement and provide a Revolving Credit Commitment hereunder, subject to the following terms and conditions:
Increasing Lenders and New Lenders. The Borrower may, at any time prior to the fourth anniversary of the Closing Date, make up to four (4) separate requests that (1) the current Lenders increase their Revolving Credit Commitments (any current Lender which elects to increase its Revolving Credit Commitment shall be referred to as an “Increasing Lender”) or (2) one or more new lenders (each a “New Lender”) join this Agreement and provide a Revolving Credit Commitment hereunder, subject to the following terms and conditions:
Increasing Lenders and New Lenders. The Borrowing Agent may, at any time and from time to time, by written notice to the Administrative Agent, request that (1) any current Lender increase its Revolving Credit Commitment (any current Lender which elects to increase its Revolving Credit Commitment shall be referred to as an “Increasing Lender”) or (2) one or more new lenders (each, a “New Lender”) join this Agreement and provide a Revolving Credit Commitment hereunder, subject to the following terms and conditions:
Increasing Lenders and New Lenders. The Borrowers may, at any time following the Closing Date, request that (1) the current Lenders increase their Revolving Credit Commitments, (2) one or more new lenders (each a “New Lender”) join this Agreement and provide a Revolving Credit Commitment hereunder, or (3) the current Lenders and/or one or more New Lenders join this Agreement and provide one or more tranches of term loans (the “Added Term Loans”), subject to the following terms and conditions (any current Lender which elects to increase its Revolving Credit Commitment or provide an Added Term Loan, as applicable, shall be referred to as an “Increasing Lender”):
Increasing Lenders and New Lenders. The Borrower may, at any time after the Closing Date, request that (x) with respect to the 5-Year Revolver (1) the current 5-Year Revolver Lenders increase their 5-Year Revolving Credit Commitments (any such current Lender which elects to increase its 5-Year Revolving Credit Commitment shall be referred to as an “Increasing 5-Year Revolver Lender”) or (2) one or more new lenders (each a “New 5-Year Revolver Lender”) join this Agreement and provide a 5-Year Revolving Credit Commitment hereunder and (y) with respect to the 364-Day Revolver (1) the current 364-Day Revolver Lenders increase their 364-Day Revolving Credit Commitments (any such current Lender which elects to increase its 364-Day Revolving Credit Commitment shall be referred to as an “Increasing 364-Day Revolver Lender”; together with Increasing 5-Year Revolver Lenders, the “Increasing Lenders”) or (2) one or more new lenders (each a “New 364-Day Revolver Lender”; together with New 5-Year Revolver Lenders, the “New Lenders”) join this Agreement and provide a 364-Day Revolving Credit Commitment hereunder, in each case, subject to the following terms and conditions:
Increasing Lenders and New Lenders. The Borrower may request that (i) the current Lenders increase their Revolving Credit Commitments or provide one or more additional term loans (each, an “Incremental Term Loan”) (any current Lender which elects to increase its Revolving Credit Commitment or provide an Incremental Term Loan shall be referred to as an “Increasing Lender”) or (ii) one or more new lenders (each a “New Lender”) join this Agreement and provide a Revolving Credit Commitment or an Incremental Term Loan hereunder, subject to the following terms and conditions:
Increasing Lenders and New Lenders. The Borrowers may at any time, but not more than two (2) times prior to the Expiration Date, as applicable, request:
(a) one or more increases in the Revolving Credit Commitments (any such increase, an "Incremental Revolving Credit Commitment" or the "Incremental Commitments") to make revolving credit loans under the Revolving Credit Facility (any such increase, an "Incremental Revolving Credit Increase" or the "Incremental Loans"); and, in the case of clause (a) above, from the existing Lenders (each an "Increasing Lender") and/or one or more new lenders who will join this Agreement and become Lenders in connection therewith (each a "New Lender" and together with each Increasing Lender, the "Incremental Lenders"), subject to the following:
Increasing Lenders and New Lenders. The Borrower may, at any time prior to the earlier of (i) a request for a Reduction of Commitment pursuant to Section 4.4.4 or (ii) the Expiration Date, make a maximum of three separate requests that (a) the current Lenders (each an “Existing Lender” and collectively, the “Existing Lenders”) increase their Commitments (any Existing Lender which elects to increase its Commitment shall be referred to as an “Increasing Lender”) or (b) one or more new banks (each a “New Lender”) join this Agreement and provide a Commitment hereunder, subject to the following terms and conditions:
Increasing Lenders and New Lenders. The Borrower may, at any time prior to the second (2nd) anniversary of the Closing Date, request that (A) the current Lenders increase their Revolving Credit Commitments (any current Lender which elects to increase its Revolving Credit Commitment shall be referred to as an “Increasing Lender”) by giving written request thereof to the Administrative Agent for distribution to the Lenders not less than fifteen (15) Business Days prior to the proposed effective date of such increase, or if there are insufficient Increasing Lenders to provide such requested increase, (B) one or more new lenders (each a “New Lender”) join this Agreement and provide a Revolving Credit Commitment hereunder, subject to the following terms and conditions:
Increasing Lenders and New Lenders. The Domestic Borrowers may at any time request that (1) the current Domestic Lenders increase their Revolving Credit Commitments (any current Domestic Lender which elects to increase its Revolving Credit Commitment shall be referred to as an “Increasing Lender”) or (2) one or more new lenders (each a “New Lender”) join this Agreement and provide a Revolving Credit Commitment hereunder, subject to the following terms and conditions: