Common use of Temporary Commitment Increase Clause in Contracts

Temporary Commitment Increase. The Borrower may from time to time request a temporary increase of the Revolving Commitment (each a “Commitment Increase”) and each such Commitment Increase shall be subject to satisfaction of the following conditions precedent as determined by the Lender in its sole and absolute discretion: (i) delivery to the Lender of prior written notice of the Borrower’s request for a Commitment Increase as soon as practicable, but in any event no fewer than five (5) Business Days prior to the proposed effective date of the Commitment Increase (which notice period may be reduced or waived by the Lender in writing in its sole and absolute discretion), which notice shall specify the proposed effective date of the Commitment Increase, the proposed duration of the Commitment Increase (which duration shall not be less than fourteen (14) days) and the requested amount of the Commitment Increase; (ii) the prior written consent of, and formal credit approval by, the Lender, each of which the Lender may grant, condition, delay or withhold for any reason or no reason in its sole and absolute discretion; (iii) the delivery of all documents, instruments, certificates, agreements and other writings and information reasonably requested by the Lender in connection therewith, in each case in form and substance reasonably acceptable to the Lender, which documents may include, without limitation, an amendment to this Agreement and an amended and restated Note; (iv) the payment of an upfront commitment fee in an amount equal to [ ] basis points ([ ]%) of the aggregate amount of the Commitment Increase to be exercised, which amount of such upfront commitment fee shall be prorated for the number of days that such Commitment Increase shall be in effect; (v) no Potential Event of Default or Event of Default (1) then existing and continuing or (2) resulting from the exercise of such Commitment Increase; and (vi) such other conditions precedent as the Lender may reasonably require.

Temporary Commitment Increase. The Borrower may from time to time request a temporary increase of the Revolving Commitment (each a “Commitment Increase”) and each such Commitment Increase shall be subject to satisfaction of the following conditions precedent as determined by the Lender in its sole and absolute discretion: (i) delivery to the Lender of prior written notice of the Borrower’s request for a Commitment Increase as soon as practicable, but in any event no fewer than five (5) Business Days prior to the proposed effective date of the Commitment Increase (which notice period may be reduced or waived by the Lender in writing in its sole and absolute discretion), which notice shall specify the proposed effective date of the Commitment Increase, the proposed duration of the Commitment Increase (which duration shall not be less than fourteen (14) days) and the requested amount of the Commitment Increase; (ii) the prior written consent of, and formal credit approval by, the Lender, each of which the Lender may grant, condition, delay or withhold for any reason or no reason in its sole and absolute discretion; (iii) the delivery of all documents, instruments, certificates, agreements and other writings and information reasonably requested by the Lender in connection therewith, in each case in form and substance reasonably acceptable to the Lender, which documents may include, without limitation, an amendment to this Agreement and an amended and restated Note; (iv) the payment of an upfront commitment fee in an amount equal to [ [***] basis points ([ [***]%) of the aggregate amount of the Commitment Increase to be exercised, which amount of such upfront commitment fee shall be prorated for the number of days that such Commitment Increase shall be in effect; (v) no Potential Event of Default or Event of Default (1) then existing and continuing or (2) resulting from the exercise of such Commitment Increase; and (vi) such other conditions precedent as the Lender may reasonably require.

Temporary Commitment Increase. The Borrower may from time to time request a temporary increase of the Revolving Commitment (each a “Commitment Increase”) and each such Commitment Increase shall be subject to satisfaction of the following conditions precedent as determined by the Lender in its sole and absolute discretion: (i) delivery to the Lender of prior written notice of the Borrower’s request for a Commitment Increase as soon as practicable, but in any event no fewer than five (5) Business Days prior to the proposed effective date of the Commitment Increase (which notice period may be reduced or waived by the Lender in writing in its sole and absolute discretion), which notice shall specify the proposed effective date of the Commitment Increase, the proposed duration of the Commitment Increase (which duration shall not be less than fourteen (14) days) and the requested amount of the Commitment Increase; (ii) the prior written consent of, and formal credit approval by, the Lender, each of which the Lender may grant, condition, delay or withhold for any reason or no reason in its sole and absolute discretion; (iii) the delivery of all documents, instruments, certificates, agreements and other writings and information reasonably requested by the Lender in connection therewith, in each case in form and substance reasonably acceptable to the Lender, which documents may include, without limitation, an amendment to this Agreement and an amended and restated Note; (iv) the payment of an upfront commitment fee in an amount equal to [ ] basis points ([ ]%) of the aggregate amount of the Commitment Increase to be exercised, which amount of such upfront commitment fee shall be prorated for the number of days that such Commitment Increase shall be in effect; (v) no Potential Event of Default or Event of Default (1) then existing and continuing or (2) resulting from the exercise of such Commitment Increase; and (vi) such other conditions precedent as the Lender may reasonably require.