Common use of Optional Increase in Commitments Clause in Contracts

Optional Increase in Commitments. At any time, if no Default shall have occurred and be continuing, the Borrower, may, if it so elects, increase the aggregate amount of the Commitments, either by designating a financial institution not theretofore a Lender to become a Lender (such designation to be effective only with the prior written consent of the Administrative Agent, which consent will not be unreasonably withheld or delayed), or by agreeing with an existing Lender that such Lender’s Commitment shall be increased. Upon execution and delivery by the Borrower and such Lender or other financial institution of an instrument in form reasonably satisfactory to the Administrative Agent, such existing Lender shall have a Commitment as therein set forth or such other financial institution shall become a Lender with a Commitment as therein set forth and all the rights and obligations of a Lender with such a Commitment hereunder; provided:

Appears in 2 contracts

Samples: Credit Agreement (Marathon Oil Corp), Credit Agreement (Marathon Oil Corp)

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Optional Increase in Commitments. At any time, if no Default shall have occurred and be continuing, time the Borrower, may, if it so elects, increase the aggregate amount of the Commitments, either by designating a one or more financial institution institutions not theretofore a Lender (each, a "New Lender") to become a Lender (such designation to be effective only with the prior written consent of the Administrative Agent, which consent will not be unreasonably withheld or delayed), or and/or by agreeing with one or more existing Lenders (each, an existing Lender "Increasing Lender") that each such Lender’s 's Commitment shall be increased. Upon execution and delivery by the Borrower and such Lender or other financial institution of an instrument in form reasonably satisfactory to the Administrative Agent, each such existing New Lender and Increasing Lender shall have a Commitment as therein set forth or in such other financial institution shall become a Lender instrument with a Commitment as therein set forth and all the rights and obligations of a Lender with such a Commitment hereunder; providedprovided that:

Appears in 1 contract

Samples: Credit Agreement (Cloud Peak Energy Inc.)

Optional Increase in Commitments. At any time, if no Default shall have occurred and be continuing, the Borrower, may, if it so elects, increase the aggregate amount of the Commitments, either by designating a financial institution not theretofore a Lender to become a Lender (such designation to be effective only with the prior written consent of the Administrative Agent, which consent will not be unreasonably withheld or delayed), or by agreeing with an existing Lender that such Lender’s 's Commitment shall be increased. Upon execution and delivery by the Borrower and such Lender or other financial institution of an instrument in form reasonably satisfactory to the Administrative Agent, such existing Lender shall have a Commitment as therein set forth or such other financial institution shall become a Lender with a Commitment as therein set forth and all the rights and obligations of a Lender with such a Commitment hereunder; provided:

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Usx Corp)

Optional Increase in Commitments. At any time, if no Default shall have occurred and be continuing, time the BorrowerBorrowers, may, if it they so electselect, increase the aggregate amount of the Commitments, either by designating a financial institution not theretofore a Lender (a New Lender) to become a Lender (such designation to be effective only with the prior written consent of the Administrative Agent, which consent will not be unreasonably withheld or delayed), or by agreeing with an existing Lender that such Lender’s Lenders Commitment shall be increased. Upon execution and delivery by the Borrower Borrowers and such Lender or other financial institution of an instrument in form reasonably satisfactory to the Administrative Agent, such existing Lender shall have a Commitment as therein set forth or such other financial institution shall become a Lender with a Commitment as therein set forth and all the rights and obligations of a Lender with such a Commitment hereunder; provided:

Appears in 1 contract

Samples: Credit Agreement (Lyondell Chemical Co)

Optional Increase in Commitments. At any time, if provided no Event of Default shall have occurred and be continuing, the Borrower, Borrower may, if it so elects, increase the aggregate amount of the Commitments, either by designating a financial institution Qualified Institution 97 103 not theretofore a Lender Bank to become a Lender Bank (such designation to be effective only with the prior written consent of the Administrative Agent, which consent will not be unreasonably withheld or delayed), or withheld) and/or by agreeing with an existing Lender Bank or Banks that such Lender’s Bank's Commitment shall be increased. Upon execution and delivery by the Borrower and such Lender Bank or other financial institution of an instrument in form reasonably satisfactory to the Administrative Agent, such existing Lender Bank shall have a Commitment as therein set forth or such other financial institution shall become a Lender Bank with a Commitment as therein set forth and all the rights and obligations of a Lender Bank with such a Commitment hereunder; providedprovided that:

Appears in 1 contract

Samples: Revolving Credit Agreement (Amb Property Lp)

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Optional Increase in Commitments. At any time, if no Default shall have occurred and be continuing, time the Borrower, may, if it so elects, increase the aggregate amount of the Commitments, either by designating a one or more financial institution institutions not theretofore a Lender (each, a “New Lender”) to become a Lender (such designation to be effective only with the prior written consent of the Administrative Agent, which consent will not be unreasonably withheld or delayed), or and/or by agreeing with one or more existing Lenders (each, an existing Lender “Increasing Lender”) that each such Lender’s Commitment shall be increased. Upon execution and delivery by the Borrower and such Lender or other financial institution of an instrument in form reasonably satisfactory to the Administrative Agent, each such existing New Lender and Increasing Lender shall have a Commitment as therein set forth or in such other financial institution shall become a Lender instrument with a Commitment as therein set forth and all the rights and obligations of a Lender with such a Commitment hereunder; providedprovided that:

Appears in 1 contract

Samples: Credit Agreement (Cloud Peak Energy Inc.)

Optional Increase in Commitments. At any time, if no Default shall have occurred and be continuing, time the BorrowerBorrowers, may, if it they so electselect in their sole discretion, increase the aggregate amount of the Commitments, either by designating a financial institution not theretofore a Lender (a “New Lender”) to become a Lender (such designation to be effective only with the prior written consent of the Administrative Agent, which consent will not be unreasonably withheld or delayed), or by agreeing with an existing Lender (acting in its sole discretion) that such Lender’s Commitment shall be increased. Upon execution and delivery by the Borrower Borrowers and such Lender or other financial institution of an instrument in form reasonably satisfactory to the Administrative Agent, such existing Lender shall have a Commitment as therein set forth or such other financial institution shall become a Lender with a Commitment as therein set forth and all the rights and obligations of a Lender with such a Commitment hereunder; provided:

Appears in 1 contract

Samples: Possession Credit Agreement (Equistar Chemicals Lp)

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