Optional Increase Clause Samples
Optional Increase. (a) The Company may, at any time or times during the term of this Agreement, by written notice in the form of Exhibit J to the Administrative Agent, make one or more requests that the aggregate amount of the Revolving Commitments be increased, or that Commitments to make Additional Term Loans be committed to, in an aggregate amount (for all such increases) not to exceed $100,000,000 (each, a "Commitment Increase"), with any such Commitment Increase to be effective as of a date (the "Increase Date") specified in the related notice to the Administrative Agent that is at least 30 Business Days after the date of such notice; provided, however, that (i) no Event of Default or Unmatured Event of Default shall have occurred and be continuing and (ii) the Company shall be in compliance with all financial covenants set forth in Sections 8.11, 8.12, 8.13 and 8.14 on a pro forma basis for the period of four consecutive fiscal quarters ending on the last day of the last completed fiscal quarter immediately preceding the date the Commitment Increase is proposed to become effective (on the assumption that the full amount of Indebtedness represented by the Commitment Increase was outstanding for the entire such period).
(b) The Administrative Agent shall promptly notify the Lenders (as well as any other financial institution specified by the Company and reasonably acceptable to the Administrative Agent (each such financial institution that is not a Lender, a "Proposed New Lender")) of the request by the Company for the Commitment Increase, which notice shall include (A) the proposed amount of the requested Commitment Increase, (B) the proposed Increase Date and (C) the date by which Lenders and Proposed New Lenders wishing to participate in the Commitment Increase must commit to participate in such Commitment Increase (the "Commitment Date"), which date shall be no later than five Business Days prior to the Increase Date.
(c) Each Lender and Proposed New Lender that is willing to participate in such Commitment Increase (each, an "Increasing Lender") shall give written notice to the Administrative Agent no later than 10:00 a.m. (San Francisco time) on the Commitment Date of the amount by which it is willing to participate in such Commitment Increase, which amount shall not exceed the amount of the requested Commitment Increase. It shall be in each Lender's sole discretion whether to offer to participate in such Commitment Increase. If the Lenders and Proposed New Lenders ...
Optional Increase. (a) On the terms and subject to the conditions set forth below, the U.S. Borrower may, at any time before the Maturity Date, increase the Aggregate Commitments; provided that:
(i) after giving effect to the requested increase, the aggregate amount of the increases in the Aggregate Commitments shall not exceed $75,000,000;
(ii) the Administrative Agent shall have consented to the requested increase and all required third party consents and approvals shall have been obtained;
(iii) prior to the date of any proposed increase, the Aggregate Commitments shall not have been decreased pursuant to Section 2.09;
(iv) each such increase in the Aggregate Commitments shall be equal to $10,000,000 or an integral multiple of $5,000,000 in excess thereof;
(v) no Default shall have occurred and be continuing or shall occur as a result of such increase; and
(vi) the Borrowers shall have executed and delivered such documents and instruments and taken such other actions as may be reasonably requested by the Administrative Agent in connection with such increases in the Aggregate Commitments (including new or amended notes, any related fee letters, documents evidencing the increased Commitment held by any applicable Lender, any joinder agreements related to a New Lender, resolutions regarding the increase in the Aggregate Commitments and related actions taken by the Borrowers, certified as true and correct by a Financial Officer and legal opinions, all in form and substance reasonably satisfactory to the Administrative Agent). Any request under this Section 2.23 shall be submitted by the U.S. Borrower to the Administrative Agent (which shall promptly forward copies to the Lenders), specify the proposed effective date and amount of such increase and be accompanied by a certificate of a Financial Officer stating that no Default exists or will occur as a result of such increase. If any fees are to be paid or offered in connection with such increase, the Administrative Agent (with the consent of the U.S. Borrower) may also specify any fees offered to those Lenders (the “Increasing Lenders”) which agree to increase the amount of their respective Commitment, which fees may be variable based upon the amount by which any such Lender is willing to increase the amount of its Commitment; no Lender which is not an Increasing Lender shall be entitled to receive any such fees. No Lender shall have any obligation, express or implied, to offer to increase the amount of its Commitment. Only th...
Optional Increase. Section 2.01(b)(i)(A) of the Existing Credit Agreement is hereby amended by adding the phrase “from and after the First Amendment Effective Date” after “increases in the Total Revolving Loan Commitment” therein.
Optional Increase. (a) Provided that no Default then exists, the Borrowers may on any Business Day prior to the Commitment Termination Date, request from time to time in writing that the then effective Commitment Amount be increased or one or more term loan commitments (a “Term Loan Commitment”) be created in an aggregate principal amount not to exceed $250,000,000. Any request under this Section to increase the Commitment Amount or create a Term Loan Commitment shall be submitted by the Borrowers to the Administrative Agent, specify the proposed effective date (which date shall be not less than 5 days after the date of such request) and specify the amount of such increase (which shall be in integral multiples of $1,000,000). No Lender shall have any obligation, express or implied, to offer to increase its Commitment or offer a Term Loan Commitment. Only the consent of the Administrative Agent (which consent shall not be unreasonably withheld or delayed) and those Lenders agreeing to increase their Commitments (the “Increasing Lenders”) shall be required for an increase in the Commitment Amount pursuant to this Section.
Optional Increase. Borrower shall have the right, without the consent of the Banks but with the prior approval of the Administrative Agent, not to be unreasonably withheld, to cause from time to time an increase in the aggregate Commitments by adding to this Agreement one or more additional Banks or by allowing one or more Banks to increase their respective Commitments; provided however (i) no Default shall have occurred hereunder which is continuing, (ii) no such increase shall result in the aggregate Commitments to exceed $350,000,000, and (iii) no Bank’s Commitment shall be increased without such Bank’s consent. Upon any increase in the aggregate Commitments pursuant to the immediately preceding sentence, the Banks hereby authorize the Administrative Agent and the Borrower to make non-ratable borrowings and prepayments of the Loans, and if any such prepayment requires the payment of Euro-Dollar Loans, Borrower shall pay any required amounts pursuant to Section 2.11 other than on the last day of the applicable Interest Period, in order to ensure that the Loans of the Banks shall be outstanding on a ratable basis in accordance with their respective Commitments after taking into account such increase, and no such borrowing or prepayment shall violate any provisions of this Agreement.
Optional Increase. (a) The Company may, on not more than two occasions during the term of this Agreement, by written notice to the Administrative Agent, request that the Revolving Commitment Amount be increased in an aggregate amount (for all such increases) not to exceed $25,000,000 (each, a "Commitment Increase"), with any such Commitment Increase to be effective as of a date (each, an "Increase Date") specified in the related notice to the Administrative Agent that is at least 30 Business Days after the date of such notice; provided, however, that (i) no Event of Default or Unmatured Event of Default shall have occurred and be continuing and (ii) no Commitment Increase may occur after June 30, 2003.
Optional Increase