Additional Loan Commitments Sample Clauses

Additional Loan Commitments. (a) Borrower may, from time to time, up to a maximum of three (3) requests, request the Lenders to increase their Revolving Commitments, so as to increase the Revolving Commitment Amount to an amount no greater than the sum of (1) the Accordion Amount plus (2) $150,000,000. The increase in the Revolving Commitment Amount pursuant to any such particular request shall be at least an amount (the “Minimum Request”) equal to the lesser of (x) $10,000,000 or (y) the Accordion Amount less all previous increases in the Revolving Commitment Amount pursuant to this Section. Borrower shall make each such request by giving notice to Agent no later than forty-five (45) days prior to the Accordion Expiration Date, which notice shall set forth the amount (which shall be no less than the Minimum Request) of the requested increase in the Revolving Commitment Amount (the “Requested Increase”) and such other details with respect to such increase as Agent shall reasonably request. Agent will use commercially reasonable efforts, with the assistance of Borrower, to arrange a syndicate of Lenders with Revolving Commitments (including the then-existing Revolving Commitments) aggregating the then existing Revolving Commitment Amount plus the Requested Increase. Upon receipt of notice as aforesaid from Borrower, Agent shall promptly send a copy of such notice to each Lender and shall request that each Lender increase its Revolving Commitment by an amount equal to its Commitment Percentage of the Requested Increase (the “First Solicitation”). Each Lender shall have the right, but not the obligation, to increase its Revolving Commitment by an amount equal to its Commitment Percentage of the Requested Increase, and shall have a period of fifteen (15) days from the First Solicitation to notify Agent whether or not such Lender elects so to increase its Revolving Commitment. Any Lender that fails to respond to the First Solicitation in writing within such fifteen (15)-day period will be deemed to have elected not to increase its Revolving Commitment. If all Lenders elect to increase their respective Revolving Commitments by amounts equal to their respective Commitment Percentages of the Requested Increase, Agent shall so notify Borrower, Agent and each of the Lenders, and Borrower shall proceed in accordance with Section 3.6(b) below. If any Lender (any such Lender, a “Declining Bank”) shall not elect or shall be deemed to have elected not to increase its Revolving Commitment as aforesai...
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Additional Loan Commitments. (a) At any time on or after the Effective Date, so long as no Default or Event of Default has occurred and is continuing, the Borrower may, upon five (5) Business Days' prior written notice to the Administrative Agent, request on one or more occasions that the Total Revolving Loan Commitment be increased by, in each such case, not less than $5,000,000 up to an aggregate amount of $25,000,000; provided that the Total Revolving Loan Commitment, after giving effect to all such increases, shall not exceed $100,000,000; and provided that none of the Revolving Loan Banks as of the date of such request shall be under any obligation to increase its Revolving Loan Commitment. Such notice shall specify (i) the amount by which the Total Revolving Loan Commitment is requested to increase, (ii) the effective date of such requested increase, which date shall not be less than five (5) Business Days nor more than 60 days following the date of such written notice, (iii) the name and contact information of the New Bank or New Banks (which may include one or more existing Banks) the Borrower is requesting provide such increase to the Total Revolving Loan Commitment, and (iv) contain a certification from an Authorized Officer of the Borrower stating that the conditions precedent to all Credit Events in Section 6.01 have been met as of the date of such notice. (b) If the Borrower has requested that one or more financial institutions that at such time are not Banks hereunder but that shall qualify as Eligible Transferees (each a "New Bank") provide a requested increase in the Total Revolving Loan Commitment, then such New Bank or New Banks shall be permitted by the Administrative Agent to, and thereafter shall, provide such Revolving Loan Commitment; provided that any increase in Total Revolving Loan Commitment provided by a New Bank shall be in a minimum amount of $5,000,000. Following satisfaction of the notice requirement in clause (a) above and the conditions in clauses (b) and (c) of this Section, upon the effective date set forth in such notice, each New Bank shall thereafter be a Revolving Loan Bank party to this Agreement and shall be entitled to all rights, benefits and privileges afforded a Revolving Loan Bank hereunder and subject to the obligations of a Revolving Loan Bank hereunder to the extent of its Revolving Loan Commitment. Annex I to this Agreement shall be deemed amended to reflect the increase in the Total Revolving Loan Commitment caused by the inclusion o...
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Additional Loan Commitments. (a) Borrower may, from time to time, up to a maximum of three (3) requests, request the Banks to increase their Loan Commitments, so as to increase the Total Loan Commitment to an amount no greater than the sum of (1) the Accordion Amount plus (2) $650,000,000 less (3) the amount of any reduction of the Total Loan Commitment pursuant to Section 2.10. The increase in the Total Loan Commitment pursuant to any such particular request shall be at least an amount (the “Minimum Request”) equal to the lesser of (x) $50,000,000 or (y) the Accordion Amount less all previous increases in the Total Loan Commitment pursuant to this Section. Borrower shall make each such request by giving notice to Syndication Agent no later than forty-five (45) days prior to the date (the “Syndication Expiration Date”) that is thirty-nine (39) months after the Closing Date, which notice shall set forth the amount (which shall be no less than the Minimum Request) of the requested increase in the Total Loan Commitment (the “Requested Increase”) and such other details with respect to such increase as Syndication Agent shall reasonably
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Related to Additional Loan Commitments

  • Loan Commitments Subject to the terms and conditions hereof, (i) each Lender severally agrees to make, on the Closing Date, a Tranche X Term Loan to Borrower in Dollars in an amount equal to such Lender’s Tranche X Term Loan Commitment; (ii) each Lender severally agrees to make, on the Closing Date, a Tranche A Term Loan to Borrower in Dollars in an amount equal to such Lender’s Tranche A Term Loan Commitment; (iii) each Lender severally agrees to make, on the Closing Date, a Tranche B-1 Term Loan to Borrower in Dollars in an amount equal to such Lender’s Tranche B-1 Term Loan Commitment; and (iv) each Lender severally agrees to make, on the Closing Date, a Tranche B-2 Term Loan to Borrower in Dollars in an amount equal to such Lender’s Tranche B-2 Term Loan Commitment. Borrower may make only one borrowing under each of the Tranche A Term Loan Commitments, Tranche B-1 Term Loan Commitments, Tranche B-2 Term Loan Commitments and Tranche X Term Loan Commitments which shall be on the Closing Date. Any amount borrowed under this Section 2.1(a) and subsequently repaid or prepaid may not be reborrowed. Subject to Sections 2.13(a) and 2.14, all amounts owed hereunder with respect to the Tranche A Term Loans, the Tranche B-1 Term Loans, the Tranche B-2 Term Loans and the Tranche X Term Loans shall be paid in full no later than the Tranche A Term Loan Maturity Date, the Tranche B Term Loan Maturity Date and the Tranche X Term Loan Maturity Date, respectively. Each Lender’s Tranche A Term Loan Commitment, Tranche B-1 Term Loan Commitment, Tranche B-2 Term Loan Commitment and Tranche X Term Loan Commitment shall terminate immediately and without further action on the Closing Date after giving effect to the funding of such Lender’s Tranche A Term Loan Commitment, Tranche B-1 Term Loan Commitment, Tranche B-2 Term Loan Commitment and Tranche X Term Loan Commitment on such date.