Increase in Commitment Clause Samples
Increase in Commitment. (a) The Company may, at its option any time after the consummation of a Qualified IPO and before the Termination Date, seek to increase the Commitments (any such increase, a “Commitment Increase”) upon written notice to the Administrative Agent; provided that, the aggregate principal amount of all Commitment Increases shall not exceed $200,000,000.
(b) Any such notice delivered to the Administrative Agent in connection with a Commitment Increase shall be delivered at a time when no Unmatured Event of Default or Event of Default has occurred and is continuing and shall specify (i) the amount of such Commitment Increase (which shall not be less than $10,000,000 (unless otherwise agreed by the Administrative Agent) or, if less, the maximum amount of Commitment Increase remaining to be established hereunder) sought by the Company, (ii) the date (each, an “Increased Amount Date”) on which the Company proposes that such Commitment Increase shall be effective, which shall be a date not less than ten Business Days after the date on which such notice is delivered to the Administrative Agent (unless otherwise agreed by the Administrative Agent in its reasonable discretion) and (iii) the identity of each Incremental Lender to whom the Company proposes any portion of such Commitment Increase be allocated and the amounts of such allocations. The Administrative Agent, subject to the consent of the Company, which shall not be unreasonably withheld, may allocate the Commitment Increase (which may be declined by any Lender (including in its reasonable discretion)) on either a ratable basis to the Lenders or on a non pro-rata basis to one or more Lenders and/or other Persons (other than Ineligible Institutions) reasonably acceptable to each of the Administrative Agent, each Issuing Bank and the Company which have expressed a desire to accept the Commitment Increase. The Administrative Agent will then notify each existing Lender and Incremental Lender of such revised allocations of the Commitments, including the desired increase. No Commitment Increase shall become effective until each of the Incremental Lenders extending such Commitment Increase and the Company shall have delivered to the Administrative Agent a document in form reasonably satisfactory to the Administrative Agent pursuant to which any such Incremental Lender states the amount of its Commitment Increase and agrees to assume and accept the obligations and rights of a Lender hereunder, and the Company accepts s...
Increase in Commitment. (a) If any Underwriter shall default in its obligation to purchase the Shares which it has agreed to purchase hereunder at a Time of Delivery, you may in your discretion arrange for you or another party or other parties to purchase such Shares on the terms contained herein. If within thirty-six hours after such default by any Underwriter you do not arrange for the purchase of such Shares, then the Company shall be entitled to a further period of thirty-six hours within which to procure another party or other parties satisfactory to you to purchase such Shares on such terms. In the event that, within the respective prescribed periods, you notify the Company that you have so arranged for the purchase of such Shares, or the Company notifies you that it has so arranged for the purchase of such Shares, you or the Company shall have the right to postpone such Time of Delivery for a period of not more than seven days, in order to effect whatever changes may thereby be made necessary in the Registration Statement or the Prospectus, or in any other documents or arrangements, and the Company agrees to file promptly any amendments to the Registration Statement or the Prospectus which in your opinion may thereby be made necessary. The term “Underwriter” as used in this Agreement shall include any person substituted under this Section with like effect as if such person had originally been a party to this Agreement with respect to such Shares.
(b) If, after giving effect to any arrangements for the purchase of the Shares of a defaulting Underwriter by you and the Company as provided in subsection (a) above, the aggregate number of such Shares which remains unpurchased does not exceed one-eleventh of the aggregate number of all the Shares to be purchased at such Time of Delivery, then the Company shall have the right to require each non-defaulting Underwriter to purchase the number of shares which such Underwriter agreed to purchase hereunder at such Time of Delivery and, in addition, to require each non-defaulting Underwriter to purchase its pro rata share (based on the number of Shares which such Underwriter agreed to purchase hereunder) of the Shares of such defaulting Underwriter for which such arrangements have not been made; but nothing herein shall relieve a defaulting Underwriter from liability for its default.
(c) If, after giving effect to any arrangements for the purchase of the Shares of a defaulting Underwriter by you and the Company as provided in subsectio...
Increase in Commitment. At the request of the Borrowers, the Lender shall increase the Commitment if each of the following conditions is satisfied:
(a) SWK Holdings shall have consummated an offering or series of offerings of its Equity Interests consisting of common stock of SWK Holdings after the Closing Date in form and substance reasonably satisfactory to the Lender resulting in Net Proceeds of at least $10,000,000 in cash received by SWK Holdings on or before the last day of the Draw Period;
(b) such requested increase in the Commitment shall be in a minimum amount of $3,000,000, with any increases over such minimum amount in integral multiples of $1,000,000;
(c) such requested increase in the Commitment shall not cause the aggregate amount of the Commitment to exceed $30,000,000;
(d) the Borrowers shall have delivered to the Lender a certificate of each Credit Party signed by an authorized officer of such Credit Party (i) certifying and attaching the resolutions adopted by each Credit Party approving or consenting to such increase and (ii) certifying that before and after giving effect to such increase, (A) the representations and warranties contained in Article V and the other Loan Documents are true in all material respects (provided that such materiality qualifier shall not apply to the extent a specific representation or warranty contains a materiality qualifier) as of such date (except in the case of representations and warranties that are made solely as of a specific date, which representations and warranties shall be true and correct in all material respects as of such date), and (B) no Default exists;
(e) the Borrowers shall have delivered to Lender a favorable opinion of counsel, reasonably acceptable to the Lender, as to such matters concerning the Credit Parties, the enforceability of the Loan Documents, and the validity of liens and security interests under the Security Documents, in each case after giving effect to the to the increase in the Commitment; and
(f) the Borrower shall have delivered to Lender a Note made by Borrowers payable to the Lender in the aggregate principal amount of such requested increase.
Increase in Commitment. The Borrower may from time to time deliver a written notice to the Agent (who shall forward a copy to each Lender) requesting an increase of the Commitment; provided that, (i) such increase shall be in an amount equal to at least at least $25,000,000 and in integral multiples of $5,000,000 (or such lesser amount as the Agent may reasonably agree) in excess thereof, (ii) the Commitment may be increased up to the amount of $450,000,000 with the consent of solely the Agent and the Lender increasing its Commitment, (iii) at the time of such increase, the representations and warranties of the Borrower contained in Section 4 or any other Transaction Document or any document furnished at any time under or in connection herewith or therewith shall be true and correct in all material respects (except for any representation or warranty that is qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) on and as of the date of such increase, except to the extent such representations and warranties expressly related to an earlier date (in which case such representations and warranties shall be true and correct in all material respects (except for any representation or warranty that is qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects)) as of such earlier date and no Default or Event of Default shall have occurred and be continuing and (iv) the Borrower shall have provided any form reasonably requested by the Lender necessary to comply with Regulation U or Regulation X, or any other provisions of the regulations of the Board of Governors of the Federal Reserve System of the United States. Notwithstanding anything herein to the contrary, no Lender shall have any obligation to increase its Commitment and no Lender's Commitment shall be increased without its consent thereto, and each Lender may at its option, unconditionally and without cause, decline to increase its Commitment; provided that the Lender shall respond to such increase request in writing not later than five (5) Business Days following its receipt of such increase request.
Increase in Commitment. Increasing Lender and the Borrower agree that, subject to the satisfaction of each condition precedent set forth in Section 5 hereof, from and after the Increase Effective Date inserted by the Administrative Agent as contemplated below, (a) Increasing Lender’s Commitment shall be increased from $______________ to $____________, (b) the Commitment Schedule shall be deemed to be amended to reflect such increased Commitment, and (c) to the extent permitted under applicable law, Increasing Lender shall be entitled to the benefits of, and shall be deemed to have assumed, to the extent of its Applicable Percentage (as increased pursuant to the increase in its Commitment), all claims, suits, causes of action and any other right of a Lender against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing.
Increase in Commitment. Increasing Lender and the Borrowers agree that, subject to the satisfaction of each condition precedent set forth in Section 5 hereof, from and after the Effective Date inserted by the Administrative Agent as contemplated below, (a) Increasing Lender’s [ (1) US Revolving Commitment shall be increased from $ to $ ,] [and (2) Canadian Revolving Commitment shall be increased from $ to $ ], [and (3) UK Revolving Commitment shall be increased from $ to $ ] (b) the Commitment Schedule shall be deemed to be amended to reflect such Revolving Commitment, and (c) to the extent permitted under applicable law, Increasing Lender shall be entitled to the benefits of, and shall be deemed to have assumed, to the extent of its Applicable Percentage (as increased pursuant to such increase in its [US Revolving Commitment/Canadian Revolving Commitment/UK Revolving Commitment], all claims, suits, causes of action and any other right of a [US Revolving Lender and/or Canadian Revolving Lender and/or UK Revolving Lender] against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby.
Increase in Commitment. 1.1. Upon the satisfaction of the conditions set forth herein, the Commitment of (i) the PNC Purchaser Group shall be increased to $218,750,000 and accordingly, the reference to “$156,250,000” set forth below PNC’s signature to the Agreement shall be deemed to be a reference to the new Commitment of the PNC Purchaser Group of “$218,750,000”, and (ii) the ▇▇▇▇▇ Fargo Purchaser Group shall be increased to $131,250,000 and accordingly, the reference to “$93,750,000” set forth below ▇▇▇▇▇’ signature to the Agreement shall be deemed to be a reference to the new Commitment of the ▇▇▇▇▇ Fargo Purchaser Group of “$131,250,000.”
1.2. As provided in Section 1.2(e) of the Agreement, the Purchase Limit shall automatically increase by the amount of the increase in the Commitment consummated hereunder and shall equal $350,000,000 after giving effect to this Commitment Increase Request.
Increase in Commitment. Provided that no Default or Event of Default has occurred and is continuing, upon notice to the Lender, Denver Water may from time to time request an increase in the amount of the Commitment, subject to the Lender’s credit approval, by an aggregate amount (for all such requests) not exceeding $20,000,000. Any such request for an increase shall be in a minimum amount of $10,000,000, and Denver Water may make a maximum of two such requests. At the time of sending such notice, Denver Water (in consultation with the Lender) shall specify the time period within which the Lender is requested to respond, which shall in no event be less than ten (10) Business Days from the date of delivery of such notice to the Lender. The Lender shall promptly notify Denver Water of the Lender’s response to each request made hereunder. If the amount of the Commitment is increased in accordance with this Section 2.11(b), the Lender and Denver Water shall determine the effective date thereof (the “Increase Effective Date.”) As a condition precedent to such increase, Denver Water shall deliver to the Lender a certificate of Denver Water dated as of the Increase Effective Date and signed by a Responsible Officer of Denver Water certifying that, as of the Increase Effective Date, the representations and certifications and agreements contained in Article IV hereof remain true and correct with suitable variations in the language of certificate as agreed to between the Lender and Denver Water.
Increase in Commitment. Borrower shall have no right under this Agreement to increase the Commitment.
Increase in Commitment. At any time on or before ninety (90) days prior to the Initial Maturity Date, Borrower shall have the right to increase, and to request the Administrative Agent to arrange the increase of, the aggregate amount of the Commitments by providing written notice to the Administrative Agent, which notice shall be irrevocable once given; provided, however, that after giving effect to any such increases the aggregate amount of the Commitments shall not exceed $100,000,000.00. Upon such request, and provided no Potential Default or Default shall have occurred and be continuing or would occur after giving effect to such increase, the Administrative Agent shall use its best efforts, in consideration of a mutually agreed upon fee, to arrange the requested increase in the Commitments through the syndication of such increase to existing Lenders or to new Lenders, as more particularly described herein, so as to become effective within ninety (90) days of the date of such request. The Administrative Agent shall promptly notify each Lender of any such request. No Lender shall be obligated in any way whatsoever to increase its Commitment. No increase of the Commitments may be effected under this Section if either (x) a Potential Default or a Default shall be in existence on the effective date of such increase or would occur after giving effect to such increase or (y) any representation or warranty made or deemed made by the Borrower or any other Loan Party in any Loan Document to which such Loan Party is a party is not (or would not be) true or correct on the effective date of such increase (the “Commitment Increase Date”). In connection with any increase in the aggregate amount of the Commitments pursuant to this Section 2.4 any Lender becoming a party hereto shall execute such documents and agreements as the Administrative Agent may reasonably request and (b) the Borrower shall make appropriate arrangements so that each new Lender, and any existing Lender increasing its Commitment, receives a new or replacement Note, as appropriate, in the amount of such Lender’s Commitment at the time of the effectiveness of the applicable increase in the aggregate amount of the Commitment.