Increase of the Commitments Clause Samples
Increase of the Commitments. (a) The Borrower may, from time to time, provided that no Default or Event of Default has occurred and is continuing, request by notice to the Administrative Agent, to increase the Commitments in minimum increments of $10,000,000, up to a maximum increase aggregate amount (for all such increases) of $500,000,000, by designating one or more Eligible Assignees (each a “Designated Lender”) that agree to accept all or a portion of such additional Commitments (the “Proposed Increased Commitment”), provided, that (i) if a Designated Lender is not a Lender, such Designated Lender shall be reasonably acceptable to the Administrative Agent, the Swingline Bank and each LC Issuing Bank, and such Designated Lender’s Proposed Increased Commitment shall be at least $5,000,000; and (ii) if Designated Lender is a Lender, such Designated Lender shall be reasonably acceptable to the Swingline Bank and each LC Issuing Bank, and allocations of the Proposed Increased Commitment among Designated Lenders that are Lenders shall be based on the ratio of each existing Lender’s Proposed Increased Commitment, if any, to the aggregate of all Proposed Increased Commitments. The Borrower may elect to remove or replace any such designated Eligible Assignee at any time prior to the effective date of such increase, provided that any newly designated Eligible Assignee is reasonably acceptable to the Administrative Agent, the Swingline Bank and each LC Issuing Bank.
(b) The Administrative Agent shall promptly notify the Designated Lenders of the Proposed Increased Commitment. Each Designated Lender shall notify the Administrative Agent by the date specified by the Administrative Agent (which date shall be a Business Day) that either (A) such Designated Lender declines to accept its additional Commitments or (B) such Designated Lender consents to accept its additional Commitments. Any Designated Lender not responding on or prior to the date specified by the Administrative Agent shall be deemed not to have consented to accept its additional Commitments. The Administrative Agent shall, after receiving the notifications from all of the Designated Lenders or following the date specified in the notice to such Designated Lenders, whichever is earlier, notify the Borrower and the Lenders of the results thereof and the effective date of any additional Commitments. The Borrower shall deliver (i) a certificate signed by a duly authorized officer of the Borrower to the Administrative Agent, dated as of ...
Increase of the Commitments. (i) From time to time prior to the Termination Date, the Company may increase the aggregate Commitments by an aggregate amount of $250,000,000 (any such increase, a “Commitment Increase”), such that the aggregate Commitments are increased to no more than $1,000,000,000 by designating either one or more of the existing Lenders (each of which, in its sole discretion, may determine whether and to what degree to offer to participate in such Commitment Increase) or one or more other banks or other financial institutions reasonably acceptable to the Administrative Agent that at the time agree, in the case of any such bank or financial institution that is an existing Lender to increase its Commitment (an “Increasing Lender”) and, in the case of any other such bank or financial institution (an “Additional Lender”), to become a party to this Agreement. The sum of the increases in the Commitments of the Increasing Lenders pursuant to this subsection (b) plus the Commitments of the Additional Lenders upon giving effect to the Commitment Increase shall not in the aggregate exceed the amount of the Commitment Increase. The Company shall provide prompt notice of any proposed Commitment Increase pursuant to this subsection (b) to the Administrative Agent, which shall promptly provide a copy of such notice to the Lenders.
Increase of the Commitments. A new Section 2.9 shall be inserted at the end of Section 2 of the Existing Credit Agreement to read as follows:
Increase of the Commitments. Section 2.04(e) of the Existing LC Agreement shall be amended by deleting the amount “$800,000,000” in the third line thereof and replacing it with the amount “$1,000,000,000”.
Increase of the Commitments. Section 2.21(a) of the Credit Agreement shall be amended by replacing each reference therein to “Letters of Credit” with a reference to “Facility LCs”.
Increase of the Commitments. At any time and from time to time during the Availability Period (in aggregate minimum amounts not less than $25,000,000 (or, if the unused portion of the Commitment Increase is less than $25,000,000, an amount equal to such unused portion, and incremental amounts of $5,000,000 in excess thereof), upon 30 days' prior written request to the Agent, and upon the written consent of the Majority Banks, the Borrower may seek one or more financial institutions to take a Commitment or Commitments in the aggregate amount of up to $50,000,000 (the "Commitment Increase"). For purposes of the foregoing, the Agent may from time to time (a) admit additional Banks under this Agreement (each an "Additional Bank") or (b) at the request of any Bank, increase the Commitment of such Bank (each an "Increasing Bank"), provided that (i) any Additional Bank shall be eligible to be a Bank under this Agreement and admission of such Additional Bank as a party to this Agreement shall have been consented to by Agent and the Borrower, (ii) the admission of such Bank as a party to the Canadian Term Loan Facility shall have been consented to by the "Majority Banks", as such term is defined in the Canadian Term Loan Facility; (iii) after giving effect to the Commitment Increase the total Commitments shall not exceed $150,000,000; (iv) the Pro Rata Percentages of the Banks hereunder and under the Canadian Term Loan Facility shall be adjusted accordingly; (v) none of the Banks shall have any obligation to increase its Commitment; and (vi) neither the Agent, the Borrower, any Bank nor any of their respective Affiliates shall have any obligation to find or arrange for any Additional Bank.
Increase of the Commitments