Requests for Increase by Borrower. The Borrower may, at any time, propose that the Commitments hereunder be increased (each such proposed increase being a "Commitment Increase") by notice to the Administrative Agent, specifying each existing Lender (each an "Increasing Lender") and/or each additional lender (each an "Assuming Lender") that shall have agreed, in its sole discretion, to an additional Commitment and the date on which such increase is to be effective (the "Commitment Increase Date"), which shall be a Business Day at least three (3) Business Days after delivery of such notice and ninety (90) days prior to the Commitment Termination Date; provided that: (i) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase, shall be $10,000,000 or a larger multiple of $5,000,000 in excess thereof; (ii) immediately after giving effect to such Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed ONE BILLION EIGHT HUNDRED FIFTEEN MILLION DOLLARS ($1,815,000,000); (iii) each Assuming Lender shall be consented to by the Administrative Agent; (iv) the conditions set forth in Section 4.2 shall be satisfied; (v) the Borrower shall pay to WCM, for the benefit of the Lenders, such fees as may be agreed to by the parties; and (vi) the Borrower shall execute such Notes as are necessary to reflect the increase in the Commitments.
Appears in 1 contract
Requests for Increase by Borrower. The Borrower may, at any time, propose that the total Commitments hereunder be increased (each such proposed increase being a "Commitment Increase") by notice to the Administrative Agent, specifying each existing Lender (each an "Increasing Lender") and/or each additional lender (each an "Assuming Lender") that shall have agreed, in its sole discretion, agreed to an additional Commitment and the date on which such increase is to be effective (the "Commitment Increase Date"), which shall be a Business Day at least three (3) Business Days after delivery of such notice and ninety (90) 30 days prior to the Commitment Termination Date; provided that:
(iA) that the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase, Increase shall be $10,000,000 5,000,000 or a larger multiple of $5,000,000 in excess thereof1,000,000;
(iiB) immediately after giving effect to such Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed ONE BILLION EIGHT HUNDRED FIFTEEN MILLION DOLLARS ($1,815,000,000)400,000,000;
(iiiC) each Assuming Lender no Default shall have occurred and be consented to by continuing on such Commitment Increase Date or shall result from the Administrative Agentproposed Commitment Increase;
(ivD) the conditions set forth representations and warranties contained in Section 4.2 this Agreement shall be satisfied;
(v) the Borrower shall pay to WCM, for the benefit true and correct on and as of the LendersCommitment Increase Date as if made on and as of such date (or, if any such fees representation or warranty is expressly stated to have been made as may be agreed to by the partiesof a specific date, as of such specific date); and
(viE) immediately after giving effect to such Commitment Increase, no Lender shall hold more than 20% of the Borrower shall execute such Notes as are necessary to reflect the increase in the total Commitments.
Appears in 1 contract
Sources: Credit Agreement (Brunswick Corp)
Requests for Increase by Borrower. The Borrower may, at any time, propose that the Commitments hereunder of a Class be increased (each such proposed increase being a "“Commitment Increase"”) by notice to the Administrative Agent, specifying each existing Lender (each an "“Increasing Lender"”) and/or each additional lender (each an "“Assuming Lender"”) that shall have agreed, in its sole discretion, agreed to an additional Commitment and the date on which such increase is to be effective (the "“Commitment Increase Date"”), which shall be a Business Day at least three (3) Business Days after delivery of such notice and ninety (90) 30 days prior to the Commitment Termination Date; provided that:
(iA) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase, Increase shall be $10,000,000 25,000,000 or a larger multiple of $5,000,000 in excess thereof;
(iiB) immediately after giving effect to such Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed ONE BILLION EIGHT HUNDRED FIFTEEN MILLION DOLLARS ($1,815,000,000)2,000,000,000;
(iiiC) each Assuming Lender shall be consented to by the Administrative AgentAgent and the Issuing Bank;
(ivD) no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the conditions set forth in Section 4.2 shall be satisfied;
(v) the Borrower shall pay to WCM, for the benefit of the Lenders, such fees as may be agreed to by the partiesproposed Commitment Increase; and
(viE) the Borrower representations and warranties contained in this Agreement shall execute be true and correct on and as of the Commitment Increase Date as if made on and as of such Notes date (or, if any such representation or warranty is expressly stated to have been made as are necessary to reflect the increase in the Commitmentsof a specific date, as of such specific date).
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (Apollo Investment Corp)
Requests for Increase by Borrower. The Borrower may, at any time, propose that the Commitments hereunder of a Class be increased (each such proposed increase being a "Commitment Increase") by notice to the Administrative Agent, Agent specifying each existing Lender (each an "Increasing Lender") and/or each additional lender (each an "Assuming Lender") that shall have agreed, in its sole discretion, agreed to an additional Commitment and the date on which such increase is to be effective (the "Commitment Increase Date"), which shall be a Business Day at least three (3) Business Days after delivery of such notice and ninety (90) 30 days prior to the Commitment Termination Date; provided that:
(iA) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase, commitment Increase shall be $10,000,000 or a larger multiple of $5,000,000 in excess thereof;,
(iiB) immediately after giving effect to such Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed ONE BILLION EIGHT HUNDRED FIFTEEN MILLION DOLLARS ($1,815,000,000)600,000,000;
(iiiC) each Assuming Lender shall be consented to by the Administrative AgentAgent and the Issuing Bank;
(ivD) no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the conditions set forth in Section 4.2 shall be satisfied;
(v) the Borrower shall pay to WCM, for the benefit of the Lenders, such fees as may be agreed to by the partiesproposed Commitment Increase; and
(viE) the Borrower representations and warranties contained in this Agreement shall execute be true and correct on and as of the Commitment Increase Date as if made on and as of such Notes date (or, if any such representation or warranty is expressly stated to have been made as are necessary to reflect the increase in the Commitmentsof a specific date, as of such specific date).
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (Pennantpark Investment Corp)
Requests for Increase by Borrower. The Borrower may, at any timetime prior to the Revolver Termination Date, propose that the Commitments hereunder of a Class be increased (each such proposed increase being a "“Commitment Increase"”) by notice to the Administrative Agent, Agent specifying each existing Lender (each an "“Increasing Lender"”) and/or each additional lender (each an "“Assuming Lender"”) that shall have agreed, in its sole discretion, agreed to an additional Commitment and the date on which such increase is to be effective (the "“Commitment Increase Date"”), which shall be a Business Day at least three (3) Business Days (or such lesser period as the Borrower and the Administrative Agent may reasonably agree) after delivery of such notice and ninety (90) 30 days prior to the Commitment Revolver Termination Date; provided that each Lender may determine in its sole discretion whether or not it chooses to participate in a Commitment Increase; provided, further that:
: (iA) the minimum amount of the Commitment (in the aggregate for all relevant Classes) of any Assuming Lender, and the minimum amount of the increase of the Commitment (in the aggregate for all relevant Classes) of any Increasing Lender, as part of such Commitment Increase, Increase shall be $10,000,000 5,000,000 or a larger whole multiple of $5,000,000 1,000,000 in excess thereof;
thereof (ii) immediately after giving effect to or, in each case, in such Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed ONE BILLION EIGHT HUNDRED FIFTEEN MILLION DOLLARS ($1,815,000,000);
(iii) each Assuming Lender shall be consented to by the Administrative Agent;
(iv) the conditions set forth in Section 4.2 shall be satisfied;
(v) the Borrower shall pay to WCM, for the benefit of the Lenders, such fees as may be agreed to by the parties; and
(vi) the Borrower shall execute such Notes as are necessary to reflect the increase in the Commitments.other
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (MONROE CAPITAL Corp)
Requests for Increase by Borrower. The Borrower may, at any time, propose request that the Commitments hereunder of a Class of Commitments be increased (each such proposed increase being a "“Commitment Increase"”) by (provided that in no event shall a Class of Non-Extended Loans be increased hereunder), upon notice to the Administrative AgentAgent (who shall promptly notify the Lenders), specifying which notice shall specify each existing Lender (each an "“Increasing Lender"”) and/or each additional lender (each an "“Assuming Lender"”) that shall have agreed, in its sole discretion, agreed to an additional Commitment and the date on which such increase is to be effective (the "“Commitment Increase Date"”), which shall be a Business Day at least three (3) Business Days (or such lesser period as the Administrative Agent may reasonably agree) after delivery of such notice and ninety (90) 30 days prior to the Extended Commitment Termination Date; provided that:
(iA) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase, Increase shall be $10,000,000 or a larger multiple of $5,000,000 in excess thereof;
thereof (ii) immediately after giving effect to or such Commitment Increase, lesser amount as the total Commitments of all of the Lenders hereunder shall not exceed ONE BILLION EIGHT HUNDRED FIFTEEN MILLION DOLLARS ($1,815,000,000Administrative Agent may reasonably agree);
(iii) each Assuming Lender shall be consented to by the Administrative Agent;
(iv) the conditions set forth in Section 4.2 shall be satisfied;
(v) the Borrower shall pay to WCM, for the benefit of the Lenders, such fees as may be agreed to by the parties; and
(vi) the Borrower shall execute such Notes as are necessary to reflect the increase in the Commitments.
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (TPG Specialty Lending, Inc.)
Requests for Increase by Borrower. The Borrower may, at any time, propose that the Commitments hereunder be increased (each such proposed increase being a "Commitment Increase") by notice to the Administrative Agent, specifying each existing Lender (each an "Increasing Lender") and/or each additional lender (each an "Assuming Lender") that shall have agreed, in its sole discretion, to an additional Commitment and the date on which such increase is to be effective (the "Commitment Increase Date"), which shall be a Business Day at least three (3) Business Days after delivery of such notice and ninety (90) 90 days prior to the Commitment Termination Date; provided that:
(i) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase, Increase shall be $10,000,000 or a larger multiple of $5,000,000 in excess thereof;
(ii) immediately after giving effect to such Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed ONE BILLION EIGHT HUNDRED FIFTEEN MILLION DOLLARS ($1,815,000,000)1,150,000,000;
(iii) each Assuming Lender shall be consented to by the Administrative Agent;
(iv) the conditions set forth in Section 4.2 3.2 shall be satisfied;
(v) the Borrower shall pay to WCM, for the benefit of the Lenders, such fees as may be agreed to by the parties; and
(vi) the Borrower shall execute such Notes as are necessary to reflect the increase in the Commitments.
Appears in 1 contract
Requests for Increase by Borrower. The Borrower may, at any time, propose request that the Commitments hereunder of a Class be increased (each such proposed increase being a "“Commitment Increase"”) by upon notice to the Administrative AgentAgent (who shall promptly notify the Lenders), specifying which notice shall specify each existing Lender (each an "“Increasing Lender"”) and/or each additional lender (each an "“Assuming Lender"”) that shall have agreed, in its sole discretion, agreed to an additional Commitment and the date on which such increase is to be effective (the "“Commitment Increase Date"”), which shall be a Business Day at least three (3) Business Days (or such lesser period as the Administrative Agent may reasonably agree) after delivery of such notice and ninety (90) 30 days prior to the Commitment Termination Date; provided that:
(iA) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase, Increase shall be $10,000,000 or a larger multiple of $5,000,000 in excess thereof;
thereof (iior such lesser amount as the Administrative Agent may reasonably agree); provided that this clause (A) immediately after giving effect to such Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed ONE BILLION EIGHT HUNDRED FIFTEEN MILLION DOLLARS ($1,815,000,000)be a condition to a Commitment Increase following any Lender’s delivery of a GBSA Notice;
(iii) each Assuming Lender shall be consented to by the Administrative Agent;
(iv) the conditions set forth in Section 4.2 shall be satisfied;
(v) the Borrower shall pay to WCM, for the benefit of the Lenders, such fees as may be agreed to by the parties; and
(vi) the Borrower shall execute such Notes as are necessary to reflect the increase in the Commitments.
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (Owl Rock Core Income Corp.)
Requests for Increase by Borrower. The Borrower may, at any time, propose that the Commitments hereunder of a Class be increased (each such proposed increase being a "“Commitment Increase"”) by notice to the Administrative Agent, specifying each existing Lender (each an "“Increasing Lender"”) and/or each additional lender (each an "“Assuming Lender"”) that shall have agreed, in its sole discretion, agreed to an additional Commitment and the date on which such increase is to be effective (the "“Commitment Increase Date"”), which shall be a Business Day at least three (3) Business Days after delivery of such notice and ninety (90) at least 30 days prior to the Commitment Termination Date; provided that:
(iA) the minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase, Increase shall be $10,000,000 25,000,000 or a larger multiple of $5,000,000 in excess thereofthereof (or any other minimum amount as may be agreed to by the Administrative Agent);
(iiB) immediately after giving effect to such Commitment Increase, the total Commitments of all of the Lenders hereunder shall not exceed ONE BILLION EIGHT HUNDRED FIFTEEN MILLION DOLLARS ($1,815,000,000)600,000,000;
(iiiC) each Assuming Lender shall be consented to by the Administrative AgentAgent and the Issuing Bank (each such consent not to be unreasonably withheld or delayed);
(ivD) no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the conditions set forth in Section 4.2 shall be satisfied;
(v) the Borrower shall pay to WCM, for the benefit of the Lenders, such fees as may be agreed to by the partiesproposed Commitment Increase; and
(viE) the Borrower representations and warranties contained in this Agreement shall execute be true and correct in all material respects on and as of the Commitment Increase Date as if made on and as of such Notes date (or, if any such representation or warranty is expressly stated to have been made as are necessary to reflect the increase in the Commitmentsof a specific date, as of such specific date).
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (Solar Capital Ltd.)
Requests for Increase by Borrower. The Borrower may, may at any time, time propose that the Commitments of a Class hereunder be increased (each such proposed increase being a "“Commitment Increase"”) by notice to the Administrative Agent, specifying each existing Lender (each an "“Increasing Lender"”) and/or each additional lender (each an "“Assuming Lender"”) that shall have agreed, in its sole discretion, agreed to an additional Commitment and the date on which such increase is to be effective (the "“Commitment Increase Date"”), which shall be a Business Day at least three (3) Business Days after delivery of such notice and ninety (90) 30 days prior to the Commitment Termination Date; provided that:
(iA) the each increase shall be in a minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase, shall be at least $10,000,000 25,000,000 or a larger multiple of $5,000,000 in excess thereof;
thereof (ii) immediately after giving effect to or such Commitment Increase, lesser amount as shall be determined in the total Commitments of all discretion of the Lenders hereunder shall not exceed ONE BILLION EIGHT HUNDRED FIFTEEN MILLION DOLLARS ($1,815,000,000Administrative Agent);
(iiiB) the aggregate amount of all Commitment Increases after the Restatement Effective Date shall not exceed $360,000,000; provided that, prior to the Step-Up Date, the aggregate amount of any Commitment Increases shall not exceed $282,500,000.
(C) each Assuming Lender shall be consented to by the Administrative AgentAgent and the Issuing Bank;
(ivD) no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the conditions set forth in Section 4.2 shall be satisfied;
(v) the Borrower shall pay to WCM, for the benefit of the Lenders, such fees as may be agreed to by the partiesproposed Commitment Increase; and
(viE) the Borrower representations and warranties contained in this Agreement shall execute such Notes as are necessary to reflect the increase be true and correct in all material respects (or, in the Commitmentscase of the representations and warranties in Sections 3.01 (first sentence with respect to the Obligors), 3.02, 3.04, 3.11 and 3.15 of this Agreement, and in Sections 2.01, 2.02 and 2.04 through 2.09 of the Guarantee and Security Agreement, true and correct in all respects) on and as of the Commitment Increase Date as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date).
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (Ares Capital Corp)
Requests for Increase by Borrower. The Borrower may, may at any time, time propose that the Commitments hereunder be increased (each such proposed increase being a "“Commitment Increase"”) by notice to the Administrative Agent, specifying each existing Lender (each an "“Increasing Lender"”) and/or each additional lender (each an "“Assuming Lender"”) that shall have agreed, in its sole discretion, agreed to an additional Commitment and the date on which such increase is to be effective (the "“Commitment Increase Date"”), which shall be a Business Day at least three (3) Business Days after delivery of such notice and ninety (90) 30 days prior to the Commitment Termination Date; provided that:
(iA) the each increase shall be in a minimum amount of the Commitment of any Assuming Lender, and the minimum amount of the increase of the Commitment of any Increasing Lender, as part of such Commitment Increase, shall be at least $10,000,000 25,000,000 or a larger multiple of $5,000,000 in excess thereof;
thereof (ii) immediately after giving effect to or such Commitment Increase, lesser amount as shall be determined in the total Commitments of all discretion of the Lenders hereunder shall not exceed ONE BILLION EIGHT HUNDRED FIFTEEN MILLION DOLLARS ($1,815,000,000Administrative Agent);
(iiiB) the aggregate amount of all Commitment Increases shall not exceed $360,000,000; provided that, prior to the Step-Up Date, the aggregate amount of any Commitment Increases shall not exceed $282,500,000.
(C) each Assuming Lender shall be consented to by the Administrative AgentAgent and the Issuing Bank;
(ivD) no Default shall have occurred and be continuing on such Commitment Increase Date or shall result from the conditions set forth in Section 4.2 shall be satisfied;
(v) the Borrower shall pay to WCM, for the benefit of the Lenders, such fees as may be agreed to by the partiesproposed Commitment Increase; and
(viE) the Borrower representations and warranties contained in this Agreement shall execute such Notes as are necessary to reflect the increase be true and correct in all material respects (or, in the Commitmentscase of the representations and warranties in Sections 3.01 (first sentence with respect to the Obligors), 3.02, 3.04, 3.11 and 3.15 of this Agreement, and in Sections 2.01, 2.02 and 2.04 through 2.09 of the Guarantee and Security Agreement, true and correct in all respects) on and as of the Commitment Increase Date as if made on and as of such date (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date).
Appears in 1 contract
Sources: Senior Secured Revolving Credit Agreement (Ares Capital Corp)