Request for Increase in Maximum Aggregate Commitment Clause Samples
The "Request for Increase in Maximum Aggregate Commitment" clause allows a borrower to formally ask lenders to raise the total amount of credit available under a loan agreement. Typically, this process involves the borrower submitting a written request to the administrative agent or lenders, specifying the desired increase and sometimes meeting certain conditions, such as obtaining lender consent or providing updated financial information. This clause provides a structured mechanism for expanding borrowing capacity, enabling the borrower to access additional funds as business needs grow, while ensuring that all parties agree to the revised commitment.
Request for Increase in Maximum Aggregate Commitment. The Seller may from time to time, by giving advanced written notice of at least two Business Days to the Administrative Agent in the form of Exhibit G hereto, request an increase in the Maximum Aggregate Commitment in increments of $25,000,000, with a minimum increase of $25,000,000 to a specified amount up to $1,500,000,000 for a period for such increase being designated by the Seller (but not less than 30 days, or if less, the period remaining until the Termination Date); provided that no Default has occurred that has not been cured before it has become an Event of Default, and no Event of Default has occurred that the Administrative Agent has not declared in writing to have been waived or cured. Upon receipt of such request, the Administrative Agent may request one or more existing Buyers or new Buyers (which new Buyers are acceptable to the Seller) to provide increased Commitments to finance all or a portion of the requested increase. The Administrative Agent shall notify the Seller of such new and existing Buyers’ responses to requests for increased or new Commitments. Following such notice, to achieve the full amount of a requested increase, with the prior consent of the Administrative Agent, the Seller may invite additional new Buyers to provide such increase. Any increase under this Section 2.3 shall be in the sole discretion of the Administrative Agent and the Buyers, and no Buyer will have any obligation to increase its Committed Sum. The consent of the Administrative Agent and the Buyers to an increase under this Section 2.3 shall be evidenced by the Administrative Agent providing to the parties to this Agreement an updated Schedule BC. If an increase in the Maximum Aggregate Commitment is achieved, then the Pro Rata ownership interest in the Purchased Loans of each Buyer shall, following funding by the Buyers increasing their Commitment Sums or by the new Buyers, automatically be adjusted proportionately. Upon the expiration of any such increase, the Seller shall, to the extent required, reduce the Aggregate Outstanding Purchase Price to the amount of the Maximum Aggregate Commitment as then in effect, and the ownership interests in the Purchased Loans of each Buyer shall automatically be adjusted accordingly.
Request for Increase in Maximum Aggregate Commitment. The Seller may from time to time request to the Administrative Agent for an increase in the Maximum Aggregate Commitment to a specified amount up to $400,000,000; provided that no Default has occurred that has not been cured before it has become an Event of Default, and no Event of Default has occurred that the Administrative Agent has not declared in writing to have been waived or cured. Upon receipt of such request, the Administrative Agent may request that one or more existing Buyers or new Buyers (which new Buyers are acceptable to the Seller) to provide increased Commitments to finance all or a portion of the requested increase. The Administrative Agent shall notify the Seller of such new and existing Buyers’ responses to requests for increased or new Commitments. Following such notice, to achieve the full amount of a requested increase, with the prior consent of the Administrative Agent, the Seller may invite additional new Buyers to provide such increase. No Buyer will have any obligation to increase its Committed Sum. If an increase in the Maximum Aggregate Commitment is achieved, then (a) the Pro Rata ownership interest in the Purchased Loans of each Buyer shall, following funding by the Buyers increasing their Commitment Sums or by the new Buyers, automatically be adjusted proportionately and (b) Schedule BC shall be updated and the update executed and delivered by the Administrative Agent to the Seller and each of the Buyers and, effective as of the date specified on such update, shall each automatically supersede and replace the then-existing corresponding schedule for all purposes.
Request for Increase in Maximum Aggregate Commitment. Section 2.3 of the Repurchase Agreement is amended and restated to read in its entirety as follows:
Request for Increase in Maximum Aggregate Commitment. Section 2.3 of the Repurchase Agreement is amended by deleting the reference to “$1,500,000,000” therein and inserting in its place “$1,800,000,000”.
Request for Increase in Maximum Aggregate Commitment. If the Companies shall request in writing to the Agent an increase in the Maximum Aggregate Commitment to a specified amount up to Seven Hundred Fifty Million Dollars ($750,000,000), the Agent shall use its best efforts to obtain increased Commitments from existing Lenders, new Commitments from prospective new Lenders or such combination thereof as the Agent shall elect, to achieve such requested increase; provided that (i) the Agent shall first offer the opportunity to the then-existing Lenders to proportionately increase their Commitments before offering prospective new Lenders the opportunity to join the syndicate of Lenders, and will next offer the opportunity to the then-existing Lenders who have agreed to increase their Commitments to further proportionately increase them to include any Commitment increase offered to but not accepted by any of the other then-existing Lenders, (ii) such written request by the Companies is delivered to the Agent at least forty-five (45) days before the requested effective date of the increase and (iii) no Default has occurred that has not been cured before it has become an Event of Default, and no Event of Default has occurred that the Agent has not declared in writing to have been