Optional Increase in Aggregate Commitment Clause Samples
Optional Increase in Aggregate Commitment. (i) Subject to the conditions set forth in Section 2.06(c)(ii), the Borrower may increase the Aggregate Commitment then in effect by increasing the Commitment of a Lender or by causing a Person acceptable to the Administrative Agent that at such time is not a Lender to become a Lender (an “Additional Lender”).
(ii) Any increase in the Aggregate Commitment shall be subject to the following additional conditions:
(A) such increase shall not be less than $10,000,000 unless the Administrative Agent otherwise consents;
(B) no Default shall have occurred and be continuing at the effective date of such increase;
(C) if any Eurodollar Borrowings are outstanding on the effective date of such increase, the Borrower shall make any payments required pursuant to Section 5.02 in connection with such increase;
(D) each Lender shall have had the option to increase its Commitment by its Applicable Percentage of the amount of such increase; provided that, no Lender’s Commitment may be increased without the consent of such Lender;
(E) if the Borrower elects to increase the Aggregate Commitment by increasing the Commitment of a Lender, the Borrower and such Lender shall execute and deliver to the Administrative Agent a certificate substantially in the form of Exhibit E (a “Commitment Increase Certificate”), and further, in the event a new Note is required to reflect the increased Commitment of such Lender, then in that case, the Borrower shall deliver a new Note (after presentation of same to Borrower by the Administrative Agent) payable to such Lender in a principal amount equal to its Commitment after giving effect to such increase, and otherwise duly completed, together with a processing and recordation fee of $3,500 payable by the Borrower to the Administrative Agent and the reimbursement by the Borrower of the reasonable legal fees of counsel to the Administrative Agent; and
(F) If the Borrower elects to increase the Aggregate Commitment by causing an Additional Lender to become a party to this Agreement, then the Borrower and such Additional Lender shall execute and deliver to the Administrative Agent a certificate substantially in the form of Exhibit F (an “Additional Lender Certificate”), together with an Administrative Questionnaire and a processing and recordation fee of $3,500 payable by such Additional Lender and the reimbursement by the Borrower of the reasonable legal fees of counsel to the Administrative Agent, and the Borrower shall deliver a Note (after prese...
Optional Increase in Aggregate Commitment. The Company may, from ----------------------------------------- time to time prior to December 31, 1998, by means of a letter to the U.S. Agent substantially in the form of Exhibit N, request that the Aggregate Commitment be --------- increased by (a) increasing the Commitment of one or more U.S. Banks which have agreed to such increase and/or (b) adding one or more commercial banks or other Persons as a party hereto with a Commitment in an amount agreed to by any such commercial bank or other Person; provided that (i) no commercial bank or other Person shall be added as a party hereto without the written consent of the U.S. Agent Aggregate Commitment exceed $850,000,000 without the written consent of all Banks. Any increase in the Aggregate Commitment pursuant to this Section 6.1.2 shall be effective three ------------- Business Days after the date on which the U.S. Agent has received and accepted the applicable increase letter in the form of Annex 1 to Exhibit N (in the case --------- of an increase in the Commitment of an existing U.S. Bank) or assumption letter in the form of Annex 2 to Exhibit N (in the case of the addition of a commercial --------- bank or other Person as a new U.S. Bank). The U.S. Agent shall promptly notify the Company and the U.S. Banks of any increase in the amount of the Aggregate Commitment pursuant to this Section 6.1.2 and of the Commitment and Percentage ------------- of each U.S. Bank after giving effect thereto. The Company acknowledges that, in order to maintain U.S. Loans in accordance with each Bank's Percentage, a reallocation of the Commitments as a result of a non-pro-rata increase in the Aggregate Commitment may require prepayment of all or portions of certain U.S. Loans on the date of such increase (and any such prepayment shall be subject to the provisions of Section 8.4). The U.S. Agent shall promptly notify all U.S. ----------- Banks of any increase in the Aggregate Commitment pursuant to this Section ------- 6.1.2. -----
Optional Increase in Aggregate Commitment. (i) Subject to the conditions set forth in Section 2.06(c)(ii), the Borrower may increase the Aggregate Commitment then in effect by increasing the Commitment of a Lender or by causing a Person acceptable to the Administrative Agent that at such time is not a Lender to become a Lender (an "Additional Lender"). -----------------
(ii) Any increase in the Aggregate Commitment shall be subject to the following additional conditions:
A. such increase shall not be less than $10,000,000 unless the Administrative Agent otherwise consents;
B. no Default shall have occurred and be continuing at the effective date of such increase;
C. on the effective date of such increase, no Eurodollar Borrowings shall be outstanding (or if any Eurodollar Borrowings are outstanding, then the effective date of such increase shall be the last day of the Interest Period in respect of such Eurodollar Borrowings);
D. each Lender shall have had the option to increase its Commitment by its Applicable Percentage of the amount of such increase; provided -------- that, no Lender's Commitment may be increased without the consent of such ----