Increasing Lenders. The Borrower may, at any time after the Closing Date, request that the current Lenders increase their Revolving Credit Commitments by providing written notice to the Administrative Agent (the “Requested Increase”). Each Lender shall have the right at any time within the fifteen (15) day period following receipt by the Agent of such written request to increase its Revolving Credit Commitment by its Ratable Share of the Requested Increase (any current Lender which elects to increase its Revolving Credit Commitment shall be referred to as an “Increasing Lender”). If Lenders elect to increase their Revolving Credit Commitment within the 15-day period specified in the preceding sentence but such increases, in the aggregate, do not equal the Requested Increase, then the Administrative Agent shall, immediately after the expiration of such period, send written notice to the Increasing Lenders. Each Increasing Lender shall have the right to increase its Revolving Credit Commitment by all or any part of the balance of the Requested Increase. In the event there are two or more such Increasing Lenders that choose to so increase their Revolving Credit Commitment, the balance of the Requested Increase shall be allocated to such Increasing Lenders pro rata based on their Ratable Share. Each Lender acknowledges and agrees that up to $20,000,000 may be loaned by an additional Lender within sixty (60) Days of the Closing Date (the “Post-Closing Loan”). The terms and conditions set forth in this Section 2.4, including, without limitation, Section 2.4(iii), shall not apply to the Post-Closing Loan, except that the Borrower shall execute and deliver to such Lender a revolving credit Note reflecting the amount of such Lender’s Revolving Credit Commitment and such Lender shall execute a lender joinder in substantially the form of Exhibit 2.4 pursuant to which such Lender shall join and become a party as a “Lender” to this Agreement and the other Loan Documents with a Revolving Credit Commitment in the amount set forth in such lender joinder.
Appears in 3 contracts
Samples: Intercompany Subordination Agreement (Under Armour, Inc.), Intercompany Subordination Agreement (Under Armour, Inc.), Intercompany Subordination Agreement (Under Armour, Inc.)
