Incremental Increase Clause Samples
An Incremental Increase clause establishes a mechanism for periodically raising certain amounts, such as payments, fees, or obligations, over the duration of an agreement. Typically, this clause specifies the timing and rate of each increase, which may be tied to a fixed schedule, a percentage, or an external index like inflation. Its core practical function is to ensure that the value of payments or obligations keeps pace with changing economic conditions or anticipated cost increases, thereby protecting one or both parties from the effects of inflation or rising expenses.
POPULAR SAMPLE Copied 2 times
Incremental Increase. The Borrower Representative may, with the written consent of Agent (such consent not to be unreasonably withheld or delayed), elect to request an increase in the Aggregate Revolving Loan Commitment (each, an “Incremental Increase”) by an aggregate amount during the term hereof not in excess of $215,000,000. Each such notice shall specify the date (each, an “Increased Amount Date”) on which the Borrower Representative proposes that such Incremental Increase shall be effective, which shall be a date not less than ten (10) Business Days after the date on which such request is delivered to Agent. Upon receipt of such request, solely to the extent Agent consents thereto, Agent (or its Affiliates) shall use their commercially reasonable efforts to arrange a group of lenders to provide such Incremental Increase, which group may consist of existing Lenders or any other Persons reasonably acceptable to each of Agent and the Borrower Representative to the extent any existing Lender chooses not to participate in such Incremental Increase and participating Lenders elect not to increase their respective pro rata shares as set forth below, if applicable. Any Lender may elect or decline, in its sole discretion, to provide any portion of an Incremental Increase pro rata in accordance with its Commitment Percentage; provided, that any declining Lender will be provided the first opportunity to participate in such Incremental Increase to the extent of its pro rata share at any time and each time the economic terms associated therewith (including terms relating to interest rates, closing fees and similar issues) are changed. In the event that any Lender declines to participate in such Incremental Increase in the full amount of its pro rata share, the other Lenders that have agreed to participate in such Incremental Increase shall have the option to increase their participation (ratably as to the participating Lenders) in the remaining amount of such Incremental Increase. Each such Incremental Increase shall become effective, as of such Increased Amount Date; provided, that (i) the terms and provisions of this Agreement and the other Loan Documents applicable to each Incremental Increase shall (when effective) be identical to the Revolving Loans set forth herein other than economic terms as set forth in this Section 1.15, (ii) each Incremental Increase shall be in a minimum amount of $50,000,000, (iii) no Default or Event of Default shall exist on such Increased Amount Date be...
Incremental Increase. Each Incremental Increase shall be part of, and shall have all of the same terms and conditions (including pricing and maturity) applicable to, the facility provided hereunder.
Incremental Increase. Shall receive a three hundred twenty-one dollars ($321) salary increase, to be added to her/his base salary for the appointment year 2007-2008, prior to any promotional increase or increase provided by Subdivision 8.04.
Incremental Increase. The Borrowers may, by written notice to the Lender during the Availability Period, request that the Revolving Credit Commitment be increased, no more than two times during the term hereof, by an amount not to exceed $5,000,000 (the “Incremental Facility Amount”). Such notice shall set forth the amount of the requested increase (which shall be a minimum amount of $1,000,000 or any whole multiple of $500,000 in excess thereof). The Lender shall, by written notice to the Borrowers, either agree to increase the Revolving Credit Commitment in its sole discretion based upon its ability to obtain necessary approvals or decline to increase the Revolving Credit Commitment. In the event the Incremental Facility Amount is approved by the Lender, it will be subject to the execution and delivery of such definitive agreements as deemed necessary by the Lender to effectuate such increase. The Incremental Facility Amount is uncommitted as of the Closing Date.
Incremental Increase. The parties also agree that qualified employees shall be granted, in the next pay period, the appropriate incremental increase in CIP upon receipt of the Intermediate or Advanced P.O.S.T. certificates.
Incremental Increase. Each qualified faculty member shall also receive an increase in his/her base salary for the appointment year 2009- 2010 equal to .165 times the percentage amount stated above in Section 8.0 times the average appointment year salary of all qualified faculty members employed on April 30, 2009.
Incremental Increase. The Borrowers may, upon notice to the Lender, request that the Revolving Commitment be increased, on a one time basis, by an amount not to exceed $10,000,000 (the “Incremental Facility Amount”). Such notice shall set forth the amount of the requested increase (which shall be a minimum amount of $5,000,000 and minimum increments of $1,000,000). The Lender shall, by notice to the Borrowers, either agree to increase the Revolving Commitment or decline to increase the Revolving Commitment, in either case, in its sole discretion. In the event the Incremental Facility Amount is approved by the Lender, it will be subject to the execution and delivery of such definitive agreements and other documentation as deemed reasonably necessary by the Lender to effectuate such increase. The Incremental Facility Amount is uncommitted as of the Closing Date.
Incremental Increase. Paragraph 8.121 – July 1 through December 31, 2006
Incremental Increase. Upon notice to Lender, Borrower may request a one- time increase in the Revolving Loan Commitment by an amount not exceeding $25,000,000.00; provided that any such request for such increase shall be in a minimum amount of
Incremental Increase. (a) Subject to the terms and conditions set forth in this Agreement and the Credit Agreement, each Lender severally agrees that (i) each Lender’s existing Commitment shall be increased by the amount for such Lender set forth on Annex A under the heading “Incremental Increase”, and (ii) immediately after giving effect to this Agreement, such Lender’s total Commitment shall be the amount for such Lender set forth on Annex A under the heading “Total Commitment”.
(b) The terms and conditions applicable to the Incremental Increase shall be the same as the terms and conditions applicable to all Commitments and all Loans made in respect of the Incremental Increase shall be subject to the same terms and conditions as all other Loans made under the Commitments.
(c) By its execution hereof, each party hereto consents to the Incremental Increase and the other transactions contemplated hereby notwithstanding any prior notice requirements required by Section 2.09 of the Credit Agreement.